Money and Me, Me, Me

By Greg Miller
ScienceNOW Daily News
16 November 2006

It's often said that money changes people. Now a team of experimental psychologists has found that just thinking of money changes people. With money on their minds, experimental subjects became more focused on themselves--in both good ways and bad.

Psychologist Kathleen Vohs says she started thinking about the psychology of money when she moved from a postdoctoral position to her first faculty job. The big salary increase meant she could hire a mover instead of relying on help from friends. It certainly made the move easier, Vohs says, but she missed the camaraderie of sharing pizza and beer after a big group effort. The experience led her to hypothesize that while money makes people more independent, it can also act as an isolating social barrier.

Money and Me, Me, Me -- Miller 2006 (1116): 3 -- ScienceNOW