All of which paints a picture of the wealthy as selfish, greedy, entitled and out of tune with others. The various researchers floated theories about their conclusions -- among which was the idea that the rich don't need to rely as much on the social contract. That's the connection that says, "I'll look out for you, because I may need you to look out for me."
What concerns me about this research is not that the rich are getting a bad rap. What concerns me, as a personal-finance columnist, is that some people already use their bad opinions of the rich as an excuse not to take care of themselves financially.
If you believe being wealthy makes you greedy or evil, how likely are you to invest in your future and build your net worth? If you feel that getting rich is a matter of luck rather than effort, aren't you far more likely to waste your money on lottery tickets and get-rich-quick schemes than you are to contribute to your 401k?
If money really does make people go bad, and I'm not convinced that it does, then the solution isn't avoiding wealth -- it's avoiding the bad behavior. That means:
- As your wealth and income grow, so should your charitable giving. Giving back is a great way to acknowledge your blessings and battle self-centeredness.
- Remember that no one is self-made. You can enjoy your accomplishments without forgetting that other people had a role in getting you where you are today: the parents who diapered you, the teachers who taught you, the mentors who guided you, the people who cheered you on.
- Ethics matter. Character is who we are when no one is looking, and it's revealed in how we treat the people around us. If you're religiously inclined, you might reflect on the admonition in Luke 12:48, "For unto whomsoever much is given, of him shall be much required: and to whom men have committed much, of him they will ask the more." If you're not religiously inclined, keep in mind that what goes around, comes around.
- The law matters too, by the way. You can make an argument that our justice system works differently for the rich than for the poor, but the vehicle code doesn't care who has the fanciest car. Give pedestrians, and the vehicle on the right, the right of way.
Liz Weston is the Web's most-read personal-finance writer. She is the author of several books, most recently "The 10 Commandments of Money: Survive and Thrive in the New Economy" (find it on Bing). Weston's award-winning columns appear every Monday and Thursday, exclusively on MSN Money. Join the conversation and send in your financial questions on Liz Weston's Facebook fan page.
