Vinod's Blog
Random musings from a libertarian, tech geek...
Friday, July 04, 2008 - 10:00 AM Permanent link for How the Rich Spend Their Time
How the Rich Spend Their Time

The alternate, more provocative tagline for this blurb could be "The Rich Deserve their $$ because they work harder" -

According to research by Daniel Kahneman, the Nobel Prize-winning behavioral economist, quoted in an article in the Washington Post, "being wealthy is often a powerful predictor that people spend less time doing pleasurable things and more time doing compulsory things and feeling stressed."

People who make less than $20,000 a year, for instance, spent more than a third of their time in passive leisure, like kicking back and watching TV. By contrast, those making more than $100,000 a year (I would call them affluent, not wealthy), spent less than a fifth of their time in passive leisure. "The richest people spent nearly twice as much time as the poorest people in leisure activities that were structured and often stressful -- shopping, child care and exercise."


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