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Saturday, July 31, 2010

07/31/10 Did You Ever Wonder How Greenwich Billionaires Could Sit Back And Turn A Blind Eye To Blind Eye To The Poor School Children At Ham Ave School

New Study Finds The Rich Horribly Stingy When It Comes To Charity

Studies come and go, but a new psychological study from the University of California Berkeley has found that 'class' (wealth, one's perception of social standing) and charity are inversely related.

You'd think that the 'higher class' would be less interested in collecting a small bit of money from a university experiment, but researchers found otherwise:

The Economist Reports:

To start with, these volunteers were asked to engage in a series of bogus activities, in order to create a misleading impression of the purpose of the research. Eventually, each was told he had been paired with an anonymous partner seated in a different room. Participants were given ten credits and advised that their task was to decide how many of these credits they wanted to keep for themselves and how many (if any) they wished to transfer to their partner. They were also told that the credits they had at the end of the game would be worth real money and that their partners would have no ability to interfere with the outcome.

A week before the game was run, participants were asked their ethnic backgrounds, sex, age, frequency of attendance at religious services and socioeconomic status. During this part of the study, they were presented with a drawing of a ladder with ten rungs on it. Each rung represented people of different levels of education, income and occupational status. They were asked to place an “X” on the rung they felt corresponded to where they stood relative to others in their own community.

The average number of credits people gave away was 4.1. However, an analysis of the results showed that generosity increased as participants’ assessment of their own social status fell. Those who rated themselves at the bottom of the ladder gave away 44% more of their credits than those who put their crosses at the top, even when the effects of age, sex, ethnicity and religiousness had been accounted for.

Read more here >


Just How many checks have you seen
Paul Tudor Jones, Eddie Lampert or Steve Cohen to Greenwich social service organizations lately.

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