Purpose & Wealth
In exploring the human experience of purpose, the NPP project has identified several core themes that are particularly significant, and which provide a useful framework for organizing our activities. This page displays the content from this website tagged for one of those themes: Purpose & Wealth.
Work on Purpose & Wealth is grounded in the question of how one’s pursuit and achievement of purpose is affected by wealth. How does one decide how much wealth to devote to different kinds of significant activities, and how might the investment of money or other resources in the self vs. others relate to the experience and fulfillment of purpose as well as to well-being and happiness? How does wealth relate to the pursuit of personal and prosocial goals? How are personal and prosocial goals affected when one has great wealth, compared to little wealth? See below for content related to our emerging insights.
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How to Create New Paths to Purpose?
New Paths to Purpose is a project aimed at using behavioral science to transform how we think about and experience purpose - to scientifically explore how purpose may, much more than we recognize, reflect and propel everyday patterns of human thought and behavior. [Time: 1:40]
New Paths to Purpose: Project Descriptions
New Paths to Purpose is a project aimed at using behavioral science to transform how we think about and experience purpose - to scientifically explore how purpose may, much more than we recognize, reflect and propel everyday patterns of human thought and behavior. [Time 2:24]
New Paths to Purpose Project Infographic
Is the Do-It-Yourself Retirement Model Failing Us?
401(k) auto-enrollment and auto-escalation programs have made a big difference, but too many retirement savers are still being left behind, says behavioral science and economics professor Richard Thaler. [Time: 12:02]
What’s the Best Way to Make People Give More Money?
The U.S. Fund for Unicef CEO Caryl Stern and Duke University Behavioral Economist Dan Ariely discuss philanthropy in a difficult economy on Bloomberg Television's “Market Makers.” [Time: 7:36]
How to Get More Happiness From the Money You Spend
"Happy Money" is a new book that presents five scientifically tested ways that people can increase their happiness by changing the ways they spend their money. Join authors Elizabeth Dunn and Michael Gordon to find out the surprising ways that money can indeed buy happiness. [Time: 11:36]
The Billfold is a site about money, interested in people’s lives and how funds make those lives awesome and not-so-awesome. It aims to do away with the misbelief that talking about difficult money issues is uncomfortable, and create a space to have an honest conversation about how we save, spend and repay our debts. The Billfold is co-edited by Mike Dang and Logan Sachon, with contributions from talented people from around the globe.
Mere Exposure to Money Increases Endorsement of Free-Market Systems and Social Inequality
The present research tested whether incidental exposure to money affects people's endorsement of social systems that legitimize social inequality. We found that subtle reminders of the concept of money, relative to nonmoney concepts, led participants to endorse more strongly the existing social system in the United States in general (Experiment 1) and free-market capitalism in particular (Experiment 4), to assert more strongly that victims deserve their fate (Experiment 2), and to believe more strongly that socially advantaged groups should dominate socially disadvantaged groups (Experiment 3). We further found that reminders of money increased preference for a free-market system of organ transplants that benefited the wealthy at the expense of the poor even though this was not the prevailing system (Experiment 5) and that this effect was moderated by participants' nationality. These results demonstrate how merely thinking about money can influence beliefs about the social order and the extent to which people deserve their station in life.
Caruso, E. M., Vohs, K. D., Baxter, B., & Waytz, A. (in press). Mere exposure to money increases endorsement of free-market systems and social inequality. Journal of Experimental Psychology: General. doi:10.1037/a0029288