does money make you mean?

In this recent TED-Talk, UC Berkeley social psychologist, Paul Piff, provides research drawing from board game behavior that having wealth, even within a contrived situation, decreases concerned and caring behavior with regard to others. This research mirrors earlier findings of Piff reported in this blog regarding the relationship between wealth and socially irresponsible behavior (see http://sounequal.blogspot.com/2012/02/rich-are-indeed-different-they-are.html ).  

why take government largesse? because I can!

Question: What do Amanda Clayton, a Michigan lottery winner, and Texas Governor Rick Perry have in common? Answer: They both receive financial support from the state, although they would not seem to be eligible for it. Michigan law does not stop Amanda from receiving foods stamps, just as Texas law does not prevent the governor from receiving state pension checks in the amount of $90,000 per year as he continues to draw his governor's salary of $150,000, plus assorted taxpayer-provided perqs. One might dismiss Amanda as just another welfare cheat, while some might argue Perry's windfall is justified on the basis of previous service. However, what is clear is that neither Clayton nor Perry admit to anything problematical about their behavior. Indeed, as Perry was recently quoted, "I would suggest to you that it's rather inappropriate if you've earned something if you don't take it and take care of your family." Recall also that before public disclosure about his double-dipping, Perry had been campaigning for the Republican presidential nomination as one who would set back the retirement age for Social Security.         

"the rich are indeed different..." they are greedier.

A new study conducted by social psychologists at the University of California, Berkeley suggests that the wealthy are more likely to engage in selfish behavior. The research design combined direct observation with various experiments, and consistently found the rich more inclined than the non-affluent to take unethical advantage of the situation or actually cheat others. While readers access to the Piff, et al. article is limited by a pay-wall, descriptions of this research are available through various online pieces published over the past day (e.g., see ScienceNow, CNN, and Bloomberg).

wheels of fortune: a vicious cycle in the used-car business

A Growing Empire: Buy Here Pay Here Dealers

In October, 2011, The Los Angeles Times ran a three-part series on the predatory used-car industry that recycles, over-priced, often shoddy vehicles within the poor community through a process characterized by high interest rates and repossession. While such operations have long been found in low-income areas, the industry now is being marketed nationally through such chains as J.D. Byrider, and is being financed by Wall Street investors. Be sure to see related interactive, Cash Car, that outlines this recycling process. Also, includes series of videos, detailing relevant topics such as Wall Street involvement.

A shout-out goes to Karen Sternheimer for bringing this site to my attention. See her incisive comments about this piece and problems with urban transportation in general at her Cars and Class.

America's pawn empire

Frugal Dad has created a detailed infographic on the pawnshop industry, the alternative bank for the cash-strapped and poor.