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Sunday, 22 August 2010

The rich have more money but the poor are rich in heart: study

 

The world could one day be an economically equal place, if the lower-income population have anything to do with it. In an interesting yet disheartening series of socioeconomic experiments, led by a team of UC Berkeley researchers, the findings are that those on the lower-income levels are more likely to give and be charitable than their higher paid counterparts. In one experiment in particular, led by doctoral student, Paul Piff and his researchers, participants completed a questionnaire reporting their socioeconomic status and a few days later were provided with $10 to share anonymously. The findings concluded the more generous of the income brackets were on the lower-income scale. A recent national survey reiterates the results, revealing lower-income people give more of their hard-earned money to charity than the wealthy. At a time when the richest one percent of Americans own more than the bottom 90 percent combined, Piff and his colleagues' findings are more than a little timely. "Our data suggests that an ironic and self-perpetuating dynamic may in part explain this trend," the study researchers write, to be published in the Journal of Personality and Social Psychology. "Whereas lower-class individuals may give more of their resources away, upper-class individuals may tend to preserve and hold onto their wealth. This differential pattern of giving versus saving among upper--and lower-- class people could serve to exacerbate economic inequality in society."

http://www.sott.net/articles/show/213997-The-rich-have-more-money-but-the-poor-are-rich-in-heart-study

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