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Perception of Wealth Influences Political Stance

Perception of Wealth Influences Political Stance

Emerging research suggests alignment with political policies may have more to do with how wealthy a person feels they are, rather than how much money they have in the bank.

In a new study, investigators found people’s views on income inequality and wealth distribution is often based on how wealthy they feel in comparison to their friends and neighbors.

“Our research shows that subjective feelings of wealth or poverty motivate people’s attitudes toward redistribution, quite independently of objective self-interest,” says psychological scientist and study co-author Keith Payne of the University of North Carolina.

The study has been published in the journal Psychological Science.

“These findings are important because they suggest a mechanism by which inequality may lead to increases in political polarization and conflict,” Payne explains.

“Peoples’ support for tax and welfare policies depends on how well off each person feels at that moment.”

While it seems logical that people would support whichever wealth distribution policy enhances their own bottom line, research consistently shows that the association between actual household income and attitudes toward redistribution is weak.

Lead author Jazmin Brown-Iannuzzi of the University of North Carolina, Payne, and colleagues speculated that perceived socioeconomic status, how people judge their status relative to those around them, might be the more influential factor.

Indeed, an online survey of adults revealed that the more well-off people felt relative to most people in the U.S., the less supportive they were of policies that involved redistribution of income from the wealthy to the poor.

Importantly, support for redistribution wasn’t related to participants’ actual household income or level of education.

And the results from a second online study provided further experimental support for the link.

In this study, when participants were given feedback suggesting they had more discretionary income than “similar” peers, they showed less support for redistribution and reported being more politically conservative (less liberal) than those who were told they were worse off than their peers.

In two additional experiments, participants were induced to feel wealthy or poor according to their performance in an investing game. Some performed “better than 89 percent of all players,” watching their assets rise and then dip by 20 percent due to income redistribution. Others performed “worse than 89 percent of all players,” seeing their assets dip before receiving a bonus through redistribution.

When asked how they might improve the rules for future participants, the “poor” players seemed to be satisfied with the existing rules, while the “wealthy” players preferred significantly less redistribution.

The perception of wealth also affected the way study participants viewed broader political theologies.

“Wealthy” players viewed inequality in the game, and the American economic system as a whole, as more fair than did “poor” players. And they viewed those who recommended increasing redistribution as more biased.

“When people were made to feel wealthier, they not only opposed redistribution but they also began endorsing more conservative principles and ideologies in general,” says Payne.

“They began to see the world as a fair and just meritocracy. And this was all the result of a simple five minute manipulation of relative comparisons to others.”

These findings suggest that feelings of subjective wealth drive people’s attitudes toward redistributive policies, and that they shift to ideological positions that justify these attitudes.

Therefore, the way in which we compare ourselves to others on a daily basis may end up having consequences for our political preferences.

Source: Association for Psychological Science

 

Voting and money photo by shutterstock.

Perception of Wealth Influences Political Stance

Rick Nauert PhD

Rick Nauert, PhDDr. Rick Nauert has over 25 years experience in clinical, administrative and academic healthcare. He is currently an associate professor for Rocky Mountain University of Health Professionals doctoral program in health promotion and wellness. Dr. Nauert began his career as a clinical physical therapist and served as a regional manager for a publicly traded multidisciplinary rehabilitation agency for 12 years. He has masters degrees in health-fitness management and healthcare administration and a doctoral degree from The University of Texas at Austin focused on health care informatics, health administration, health education and health policy. His research efforts included the area of telehealth with a specialty in disease management.

APA Reference
Nauert PhD, R. (2015). Perception of Wealth Influences Political Stance. Psych Central. Retrieved on September 20, 2018, from https://psychcentral.com/news/2014/11/26/perception-of-wealth-influences-political-stance/77824.html

 

Scientifically Reviewed
Last updated: 6 Oct 2015
Last reviewed: By John M. Grohol, Psy.D. on 6 Oct 2015
Published on PsychCentral.com. All rights reserved.