For the Love of Money

The social magic of wealth ... and Trump's travel down the wealth / status escalator.

I have been reading the archly sarcastic "The Theory of the Leisure Class", by Thorstein Veblen. It introduced the concept of "conspicuous consumption" by way of arguing that social class is marked by work, specifically by the total lack of work that occupies the upper, or leisure class, and more and more mundane forms of work as one sinks down the social scale. This is a natural consequence of what he calls our predatory lifestyle, which, at least in times of yore, reserved to men, especially those of the upper class, the heroic roles of hunter and warrior, contrasted with the roles of women, who were assigned all non-heroic forms of work, i.e. drudgery. This developed over time into a pervasive horror of menial work and a scramble to evince whatever evidence one can of being above it, such as wearing clean, uncomfortable and fashionable clothes, doing useless things like charity drives, golf, and bridge. And having one's wife do the same, to show how financially successful one is.

Veblen changed our culture even as he satarized and skewered it, launching a million disgruntled teenage rebellions, cynical movies, songs, and other analyses. But his rules can not be broken. Hollywood still showcases the rich, and silicon valley, for all its putative nerdiness, is just another venue for social signaling by way of useless toys, displays of leisure (at work, no less, with the omnipresent foosball and other games), and ever more subtle fashion statements.

Conversely, the poor are disparaged, if not hated. We step over homeless people, holding our noses. The Dalit of India are perhaps the clearest expression of this instinct. But our whole economic system is structured in this way, paying the hardest and most menial jobs the worst, while paying some of the most social destructive professions, like corporate law, the best, and placing them by attire, titles, and other means, high on the social hierarchy.

As Reagan said, nothing succeeds like success. We are fascinated, indeed mesmerized, by wealth. It seems perfectly reasonable to give wealthy areas of town better public services. It seems perfectly reasonable to have wealthy people own all our sports teams, run all our companies, and run for most political offices. We are after all Darwinian through and through. But what if a person's wealth comes from their parents? Does the status still rub off? Should it? Or what if it came from criminal activities? Russia is run by a cabal of oligarchs, more or less- is their status high or low?

All this used to make more sense, in small groups where reputations were built over a lifetime of toil in support of the family, group, and tribe. Worth was assessed by personal interaction, not by the proxy of money. And this status was difficult to bequeath to others. The fairy tale generally has the prince proving himself through arduous tasks, to validate the genetic and social inheritance that the rest of the world may or may not be aware of. 

But with the advent of money, and even more so with the advent of inherited nobility and kingship, status became transferable, inheritable, and generally untethered from the values it supposedly exemplifies. Indeed, in our society it is well-known that wealth correlates with a decline in ethical and social values. Who exemplifies this most clearly? Obviously our former president, whose entire public persona is based on wealth. It was evidently inherited, and he parlayed it into publicity, notariety, scandal, and then the presidency. He was adulated, first by tabloids and TV, which loved brashness (and wealth), then by Republican voters, who appear to love cruelty, mean-ness, low taste and intellect, ... and wealth. 

But now the tide is slowly turning, as Trump's many perfidies and illegal practices catch up with him. It is leaking out, despite every effort of half the media, that he may not be as wealthy as he fraudulently portrayed. And with that, the artificial status conferred by being "a successful businessman" is deflating, and his national profile is withering. One might say that he is taking an downward ride on the escalator of social status that is in our society conferred largely by wealth.

All that is shiny ... mines coal.

Being aware of this social instinct is naturally the first step to addressing it. A century ago and more, the communists and socialists provided a thoroughgoing critique of the plutocratic class as being not worthy of social adulation, as the Carnegies and Horatio Algers of the world would have it. But once in power, the ensuing communist governments covered themselves in the ignominy of personality cults that facilitated (and still do in some cases) even worse political tyrannies and economic disasters. 

The succeeding model of "managed capitalism" is not quite as catastrophic and has rehabilitated the rich in their societies, but one wouldn't want to live there either. So we have to make do with the liberal state and its frustratingly modest regulatory powers, aiming to make the wealthy do virtuous things instead of destructive things. Bitcoin is but one example of a waste of societal (and ecological) resources, which engenders social adulation of the riches to be mined, but should instead be regulated out of existence. Taking back the media is a critical step. We need to reel back the legal equation of money with speech and political power that has spread corruption, and tirelessly tooted its own ideology of status and celebrity through wealth.

• California police could use some supervision too.
• Marin- a cruel gerontocracy?