We Admire, Envy, Yield. The Psychology of Wealth

The Psychology of Wealth: The Strongest Aphrodisiac

People often say “money doesn’t buy happiness,” yet it acts like a magnet. Individuals with deep pockets usually find themselves surrounded by numerous “satellites” at every opportunity and gathering. Regardless of the event’s scale, they can count on a host of interested parties to appear: acquaintances, business partners, friends, and even those eager to forge new connections. The fundamental question arises: what, as humans, draws us to those who possess great wealth? What behaviors does knowing them incite in us? The simplest answer might be that power and money are the strongest aphrodisiacs, and those who possess one typically also possess the other. However, human psychology of wealth is far more complex. Therefore, let’s explore this phenomenon more closely.

British Prime Minister Margaret Thatcher once stated, “Money doesn’t fall from heaven; it must be earned on Earth.” This might reveal the first motive behind our favorable inclination toward wealthy individuals. When we encounter a person of means, our subconscious activates a belief (whether accurate is another matter) in that person’s resourcefulness, exceptional talents, and special abilities. Since this person managed to earn that much money (the subconscious thought lingers: “and I haven’t”), they must possess some extraordinary powers. In that case, it is worthwhile to associate with them.

Courage and Exceptional Abilities: How Successful People Inspire Us

Warren Buffett’s advice can lead us to another clue. “Never depend on single income. Invest in yourself to create a second source, then a third, then a fourth,” he cautioned. We feel that a wealthy person not only might possess the aforementioned exceptional abilities, talents, and powers to acquire money, but moreover, they know how to utilize these to earn more. After all, one can have various predispositions, but whether someone can truly leverage them is a different matter. Can they properly direct them to yield the intended profit? Millionaires often project an aura of knowing how to invest to multiply their capital. Some may hope that by associating with successful people, they themselves will learn this difficult art.

And a third characteristic of wealthy people can act like a magnet on their surroundings. Mark Zuckerberg perfectly articulated this: “The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” We sense that wealthy individuals do not fear challenges. They must take risks, because without doing so, money won’t simply accumulate. Every major deal or profit inherently involves risk, an element of uncertainty, and anticipation. You never fully know whether a plan will succeed. Thus, we live with the conviction that affluent people are courageous!

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The Psychology of Wealth: Boundaries Cease to Matter

At least these three aspects, discernible in the demeanor of affluent individuals, attract a wide range of people to them. These individuals are, on one hand, charmed and full of admiration, but on the other – because they also desire success – full of envy. Unfortunately, we cannot hide it: where large sums of money appear, significant envy also arises. After all, we are not such a noble species that we limit ourselves to applause and commendation. We begin to think about our own needs, and instinct whispers: “Since they are doing so well, perhaps by staying close, I can gain something from it.” By accompanying wealthy individuals, it becomes easier to earn money oneself. It is not particularly groundbreaking to observe that the wealthiest members of a given society stand at the top of rich companies and powerful corporations. Employees there earn significantly better wages than, for example, in state institutions.

However, it is worth asking about the relationships between employees and bosses in such organizations. When we look closer, it becomes clear that very often, the supervisor-subordinate relationship rests on pure dependence, and sometimes even addiction. Every person wishes to earn well (which, of course, has its subjective meaning: as many people as definitions of “well”). In every job, when signing a contract, we agree to clearly defined employment terms, including requirements, duties, responsibilities, working hours, and so on. Yet, we know perfectly well that in practice, these arrangements very often undergo modifications. The employer, expecting increasing efficiency from the employee, demands greater commitment from their side. The employee, not wanting to disappoint the boss, and certainly not wanting to lose a well-paying job, often agrees to push previously established boundaries. How far can we compromise, and what do we agree to in the name of good – or even increasingly better – earnings?

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We Gain Something, We Lose Something

When observing an affluent person surrounded by others, it is easy to notice specific behaviors among the participants of such a gathering. There is nothing wrong with an atmosphere of friendly camaraderie, expressions of sympathy in the form of compliments, or warm words directed at the main protagonist. However, one might become suspicious when the assembled individuals consistently agree with every statement their boss makes. After all, it is obvious that we do not always agree with people we interact with daily, nor do we agree on everything.

Differences in opinion are normal and natural. Our communication skills serve to build discussion and to confront these views. The problem arises when, for some reason, we are unwilling or afraid to voice our own opinion. This happens when we withdraw from our stance without clear reason and apologize for our dissent. Or when we remain silent, even though we actually disagree with the expressed opinion, decisions, or proposed changes. This can indicate excessive submissiveness, dependence, and fear of losing approval from our superior. It is worth realizing then that this is often the price we pay – for a good position or perhaps the promotion or raise we are striving for.

The Psychology of Wealth: Honesty Is Valued

Ralph W. Emerson, the American essayist and poet, once said that “Money often costs too much.” Perhaps he meant precisely these concessions we often make in the name of protecting our financial stability. Worse yet, from an ethical standpoint, such an attitude of withdrawal, passivity, or silence serves no one.

The German philosopher Friedrich Nietzsche clearly showed that truly important ideas arise precisely through confrontation, struggle, and competition (even on a verbal level – thus in discussion, in the exchange of views). Success can emerge exactly where pluralism exists and where different viewpoints are voiced. Constructive criticism is necessary and developmental. For instance, our wealthy acquaintance might live in a bubble and not perceive something that others from the outside see. Making them aware of this can, in the long run, lead to positive change. It can also foster the development of a venture that brings profits both to them and to those dependent on them. Therefore, it is not always wise to remain silent and passively agree if we disagree with something. Ultimately, everyone might lose out.

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Self-Respect, Respect for Others

In this context, another ethical question arises: how do we understand respect – both for oneself and for others? Uncritically agreeing with someone, regardless of what they say or do, can be harmful not only to them and ourselves, but it also demonstrates a lack of self-respect and disrespect for the other person. If we respect someone, we want the best for them. Respect also means having the courage to tell someone something that might be poorly received (perhaps because they do not understand our good intentions hidden in a critical remark), but we hold an inner conviction that we are expressing our doubts or objections for our own good, the good of the other person, or the future of a joint venture. If fear of the other party’s reaction – fear of being demoted (financially or in terms of position) – wins out, it does not reflect well on our hierarchy of values. After all, self-respect and respect for others are priceless.

Power, money, and human psychology of wealth create an explosive mixture. Perhaps it is worth recalling the words of the great Enlightenment humanist Voltaire, who warned: “Do not think money will do everything for you, for you will end by doing everything for money.” It is obvious that money is important, but sometimes it is worth considering what we sacrifice from our lives and ourselves to multiply it, because perhaps not every price is worth paying.