Wealth in American Society Wealth

¶ … Wealth in American Society

Wealth is a concept that is subject to different definitions largely base on cultural values and societal beliefs. In certain human societies, wealth is hardly even considered simply because the everyday reality of existence is so difficult that all of the efforts and concerns of individuals are dedicated, of necessity, to acquiring the most basic needs in the realm of personal safety and minimal nutritional and other health issues. In other human societies, particularly since the Industrial Revolution, the acquisition of basic necessities is no longer an issue, leaving the individual to focus on other things, including concepts of personal wealth and success.

The Psychological Basis of Motivation for Wealth:

To a large extent, perceptions of wealth are strictly relational, having value only in the relative availability or exclusivity of various lifestyles or acquisitions. In that regard, they are substantially illusory, having the greatest value only while they are elusive; the moment measures of wealth or success become available to the masses, they are no longer regarded as signifying wealth or social privilege by the wealthiest segments of society who enjoyed them initially.

In fact, much of the social preoccupation with wealth is a measure of personal insecurity and the need for attention and admiration of others, even strangers. In many respects, that preoccupation was responsible for the societal themes and values that eventually manifested themselves in the collapse of the American economic system in 2008.

The Illusory Nature of Comparative Wealth in the United States:

In principle, almost all middle class and even lower middle class Americans are exceptionally wealthy by any objective standards in comparison to the level of wealth available to the vast majority of human beings throughout the world. The mere availability of clean running water, indoor plumbing, electricity, heat, air conditioning, refrigeration, automobiles, quality food, and cable television would be considered extreme "wealth" in most of the rest of the world.

Unfortunately, because the prevailing concept of personal wealth is relational rather than absolute or defined by the objective benefits and conveniences of modern life in the developed world, most Americans take for granted the lifestyles, benefits, conveniences, and opportunities available to them in modern American society. In the early 20th century, for just one typical example, the wealthiest Americans enjoyed the thrill of automobile excursions because the first cars were so expensive that they denoted wealth and privilege. However, as soon as the first mass transportation systems and more affordable automobiles made traveling more available to the masses, weekend drives to remote areas previously available much more exclusively to the wealthy lost their attraction to the wealthy.