Why No One Feels Rich

Hidden Brain

Hidden Brain Media

Arts, Science, Performing Arts, Social Sciences

4.6 • 40.4K Ratings

🗓️ 22 April 2019

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you've ever flown in economy class on a plane, you probably had to walk through the first class cabin to get to your seat. Maybe you noticed the extra leg room. The freshly-poured champagne. Maybe you were annoyed, or envious. Social psychologist Keith Payne says we tend to compare ourselves with those who have more than us, but rarely with those who have less. This week, we explore the psychology of income inequality, and how perceptions of our own wealth shape our lives.

Transcript

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0:00.0	This is Hidden Brain, I'm Shankar Vedanta.
0:03.6	Let's say you make $500,000 a year.
0:09.7	That puts you in the top 1% of all Americans,
0:13.1	and far ahead of almost everyone else in the world.
0:17.1	That's out the right center field again at the scene.
0:19.6	The $500,000 salary comes from being a professional baseball
0:24.6	player.
0:25.6	You're not a bad player.
0:26.6	Maybe I'm as an English for the first time this season.
0:29.0	For the Los Angeles Angels.
0:30.6	Think up the victory tonight, the final three to one.
0:37.7	When you look over your shoulder in the locker room,
0:40.5	you see this other guy, Mike.
0:43.0	To potential news now of the biggest contract
0:46.3	in baseball history.
0:47.9	Today, we learned that LA Angels star, Mike,
0:50.6	trout is finalizing a deal to stay with that team
0:54.4	for another 12 years and to earn $430 million over that time.
1:00.3	$430 million over 12 years, or $36 million a year, which
1:10.5	makes your $500,000 look measly.
1:14.8	As we walk through the world, we are constantly
1:23.2	comparing and contrasting our lives with those of others.
	...

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