[ExI] the formerly rich and their larvae...

[BillK]

On Feb 13, 2008 6:33 AM, Lee Corbin wrote:
<snip>
> Status may be a zero-sum game, but economics *certainly*
> is not---except in those cases where some genius like Lenin
> supposes that he has a better way to organize everything.
>


But in human society, status trumps economics. That's inbuilt to human nature.

<http://www.latimes.com/news/opinion/la-op-schermer13jan13,0,1195880.story>

'Why people believe weird things about money'
Evolution accounts for a lot of our strange ideas about finances.
By Michael Shermer         January 13, 2008

Would you rather earn $50,000 a year while other people make $25,000,
or would you rather earn $100,000 a year while other people get
$250,000? Assume for the moment that prices of goods and services will
stay the same.

Surprisingly -- stunningly, in fact -- research shows that the
majority of people select the first option; they would rather make
twice as much as others even if that meant earning half as much as
they could otherwise have. How irrational is that?
etc.............


----------------------------

'Perception of fairness' and 'status' are far more important drivers
for the majority of humanity than mere money and wealth.


BillK