The Great American Money Myth

There is a myth in America, and it goes something like this

People attain the degree of wealth that they deserve.

If you’re poor, it’s because you’re lazy or stupid.  If you’re rich, it’s because you work hard and you’re smart.  Restated in another manner, the myth is:

 The amount of money and material wealth you have is an accurate reflection of your worth as a person.

Now, I’m quite certain if you ask someone if they believe the above statement they would probably deny it.  Unfortunately it’s not a question of whether you acknowledge it.  The belief is so embedded in our culture that it is reflected in our thoughts and beliefs whether we acknowledge it or not.

• It’s reflected in who we believe should have health care
• It’s reflected in who we believe should be bailed out of bad mortgages
• It’s reflected in our opinions about “sharing the wealth”
• It’s reflected in the thoughts that cross our minds when we look at a Wal-Mart employee or a bus boy, or a gardener, or a homeless man begging for our change.

Economic Theory

Some of it is grounded in economic theory because “theoretically” the more that you offer to the world in terms of services the more you should receive back in terms of profits.  As the theory goes – A bus boy does not benefit the world much, and is easily replaceable, and therefore does not deserve much of the wealth of the world.  A corporate CEO however, benefits the world greatly as the captain of a corporation which provides some of the many goods and services which we all enjoy – therefore the wealthy man deserves his wealth.  This situation is an incentive for the bus boy to better himself.

But ask yourself this: 

• What percentage of wealthy people grew up with abusive parents?
• What percentage of wealthy people were educated in inner cities?
• What percentage of wealthy people grew up in a meth house?
• What percentage of wealthy people don’t know how to read?
• … I could go on and on

Now, I know that many wealthy people have faced adversity, taken risks, and started their empires with next to nothing.  Hewlett and Packard started their company HP out of a garage.  Bill Gates dropped out of college and started Microsoft with next to nothing.  But, although Bill Gates didn’t grow up exceedingly rich he did grow up with a loving and supporting family and more importantly he grew up with access to computers at a time when very few people had such access.  Similarly the founders of most of the other technology companies were in a similar position where they had access to knowledge that the vast majority of the population had no access to.

The great American Assumption

The myth, it turns out, is born out of an invalid assumption. 

And that assumption is that the world and its resources are infinite. 

That everyone can live in a mansion if we all work hard enough.  That everyone can own their own Microsoft if we were all just smart enough.  It began in the very early stages of our growth as a nation, when the American Continent and the frontiers did indeed seem endless.  It’s what caused us to kill hundreds of millions of buffalo.  It’s what caused us to use up all of our oil by 1980 (American’s are now living off oil shipped in from other countries).  It’s what caused us to chop down 95% of our old growth forests.  It’s what causes us to mock 3^rd world countries and take their natural resources…  and it’s what will ultimately cause our downfall if we’re not careful.

So what is the point of all this?

Look at your own life.  Would you say you’re doing the best you can given your knowledge level and the current and past circumstances in your life?  Almost everyone can say this, and amost everyone can be right about it.

The truth is that most people who have attained wealth in this life did so because they were lucky enough to be born into circumstances which allowed them to succeed. 

At the same time:

Most people who live in poverty are in actuality doing the best they can with the circumstances they’ve been given.

Our challenge as a society is to better the circumstances of everyone but especially those less fortunate than us.  This might mean paying more taxes so that we can improve inner city schools.  That might mean you use less resources, so that there can be more available to others.  But most importantly, it means when you think of your fellow man (or woman) who might not be doing as well as you are, you think of them with compassion, understanding, and without judgement. 

And your compassion will be rewarded because if people are given the opportunity to contribute to the global society that we live in, they will be happy to do so, and this means a better world for all of us.

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