Skip to comments.The Meaning of Wealth Translated Around the World
Posted on 05/25/2010 7:30:03 AM PDT by chickadee
We like to think the reasons for seeking wealth are universal. Humans, by nature, like to be comfortable, like to have power and like to have the choices and freedoms offered by lots of stuff and money.
Yet it turns out there are some regional variations in the meaning of wealth around the world.
The new Barclays Wealth Insights study, released this morning from Barclays Wealth and Ledbury Research, finds that the emerging-market rich view wealth very differently from the older-money Europeans and the slightly less nouveaux Americans.
(Excerpt) Read more at finance.yahoo.com ...
We can read several things into the differences. Most obviously, the U.S. has a more formalized and tax-favorable system of philanthropy than the rest of the world. (It is too sweeping to say Americans are the most generous.)
The fact that American tax law promotes philanthropy is proof in and of itself of the more generous nature of Americans.
And the fact that lots of American "charities" are shams that allow scumbags to hide profits and hold tax-exempt parties for celebrities shows that our rich guys are just as immoral as theirs.