Twitteretter

There are two types of money. Money made by working, performing tasks demanded by your occupation, and money made by other means, such as investing or gambling (these two activities can be very different or almost identical depending on each individual’s approach to the former). We seem to derive more pleasure from money made the second way. I have observed that, presented with a speculation opportunity which promises the possibility of large, easy financial returns, most of us, even those typically uninterested in wealth, excitedly jump at it. This is interesting, as one would think that money earnt by effort and toil and by performing duties well should provide more satisfaction. But it does not. I think the reason is that anyone, or almost anyone, can earn money by working, but earning money by investing or gambling makes us feel clever, different to others, special. It feels like a prize to our ingenuity, boldness and courage, earnt by our talent, rather than a salary for our toil ...

The Connollys, a Northern Irish couple who won £115 million on the National Lottery, have been revealed to have donated more than half their winnings to charities and people in need, whilst spending little on themselves. This may be surprising to many, but it is not. A win such as this equips you with the financial security most of us miss nowadays and allows you to live your normal life without pressure, after maybe indulging a couple of expensive whims. Having done that, one soon realises that keeping the balance in the bank, voyeuristically staring at it, or even investing it to try to grow it, is an empty endeavour, and that money is best used where it makes the most difference and, in doing so, where it gives the most satisfaction to those giving it. The Connolly’s behaviour is normal, logical and intelligent. What is not normal is the behaviour and drive of incessantly accumulating millionaires and billionaires, who take a much needed resource from the system for no known purpose...

This is an interesting observation, even if also a somewhat disappointing one. I have over the years known many cases of people who have evolved, as their wealth and age increased, from a somewhat antisystem, progressive political outlook, to a conservative mindset. This is, at first sight, a change in politics, from left to right. But appearances can be deceiving, and I think it really is something else. This is the politics of ‘whatever suits my personal circumstance, and not society, best at any given point’. And it remains consistent. When poorer and younger, more sharing of the wealth of the haves and help for the have nots. Once you are enlisted in the ranks of the haves, the opposite, lower taxation, individualism and a conviction that those who have not choose that situation and do not deserve help. I guess how steady your politics are as your circumstances change depends on how you answer the fundamental question ‘Does society exist to serve me, or does it exist to serve all?’...