Why the narcissism of the wealthy isn't always a bad thing
Being wealthy no doubt allows you to live an easier – and often more enjoyable – life, but it could also change your personality, making you more narcissistic, selfish and self-absorbed, according to new research. (In further news, bears also found in woods looking desperate.)
A study published in the Personality and Social Psychology Bulletin last week found that wealthy individuals were more narcissistic than their lower-classes counterparts, as money tended to increase their sense of entitlement.
The study, which was based on a series of surveys and experiments, found that HNWs – including those who had inherited, and not created, their wealth – tended to agree with assertions such as, ‘I honestly feel I’m just more deserving than others,’ while participants with lower incomes were more likely to choose remarks such as ‘I do not necessarily deserve special treatment.’ When asked to compare themselves to others, wealthy participants also said they ranked higher than the average in terms of net worth and education.
(They're selfish, historically-speaking, too: they assented to the statement that 'if I were on the Titanic, I would deserve to be on the first lifeboat'.)
Just like modern Narcissuses (Narcissi?), rich individuals were also quite vain, the research found, as they were more likely to look at themselves in a mirror, if given the opportunity to do so.
Me me me!
But is narcissism necessarily a bad thing? Of course, when it translates into a lack of empathy and compassion towards others, when it bloats somebody’s ego to the point there’s no space for anything else in the room, narcissism can be quite disruptive.
Pictured above: Caravaggio's Narcissus, now with tiara
However, from politics to science and technology, some of the world’s greatest leaders boasted a certain swagger, and a pinch of self-admiration can surely help you climb the corporate ladder.
Interestingly, a study published two years ago found that a little bit of narcissism in teenagers could not only be healthy but useful too, as it helped youngsters define themselves while they went through adolescence – not always an easy period, if you remember.
Similarly, narcissism probably gave later-to-be successful entrepreneurs the strength to persevere in their ventures. To be successful in most sectors – and certainly so in business – you need to be bold, confident and able to take decisions quickly, qualities narcissistic people don’t lack. Would Steve Jobs have been able to start Apple with an humble personality and low self-esteem?
Sometimes, to prove your idea is successful, you really have to believe it is the smartest idea in the world.
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