Thursday, November 23, 2006

Stingy by Nature

According to a journal article in Science, when it comes to money, sharing isn't our natural impulse. Benedict Carey reports on this claim in "Just Thinking About Money Can Turn the Mind Stingy," in The Wall Street Journal. In an experiment involving 52 undergraduates, individuals who were primed to think about money worked on a difficult problem longer and were less likely ask for help or offer help. These "money thinking" students also placed themselves physically father from other people in a room (16 inches farther apart). The researchers in this experiment suggest that the effect of money on people's interactions can be seen in everyday life, as those with financial resources often hire people instead of asking acquaintances for help. George Lowenstein, a professor of economics and psychology at Carnegie Mellon University in Pittsburgh, says "'this study shows its pernicious side, how the pursuit of money can be isolating.'"

Build a stronger business by emphasizing aspects of business other than money.

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