- Dartmouth-Hitchcock Medical
- Remarks made by Amy Domini at Villanova
- FRA Family Offices Conference
- 4th National Product Stewardship Forum
- Northfield Mt.Hermon Commencement
- Acceptance of Honorary Degree at Yale Divinity School
- Keynote Speech at Socially Responsible Investing Conference
- Keynote presented at Eco 6 conference in Zurich, Switerland
- Speech on Ethics in Business at the Dalai Lama's New York Town Hall
- Introduction from the ICCR Speech
- A Case for Hope : Interfaith Center on Corporate Responsibility
- Socially responsible Investment: How To Make It Possible
- Book Reviews
How You View Yourself
Amy Domini, Sharon Rich, and Dennis Pearne
From Money Talks. So Can We.
"Money is a privilege to act as you will and also a prohibition against doing as you please."
At 21, Cindy became a millionaire. She had more money than most of her peers at college and she began to feel that college life reinforced her feelings that she was different. Student discounts and student rates for magazines, ski trips and theater tickets threw Cindy into a dilemma. Students were supposed to be poor and she wasn't. Was it fair to use these discounts? She was able to pay full price, and for events like concerts and art shows she wanted to. She felt alone in a world whose rules she didn't understand.
Knowing you're wealthy colors your perception of yourself. Having a lot of money can make you feel different from other people, and like most people, you probably don't enjoy that feeling. Wealth also presents you with a great range of choices about your career, spending, saving, giving, education, recreation, and indeed, every facet of life. The sense of being different and the magnitude of your choices may make you feel like Cindy: conflicted, confused and isolated.
You are not alone; others have faced the same challenges of wealth. We will talk about what they have felt and how they have behaved to help you place your own actions and reactions in perspective. We will also explore the factors that make you feel different: where your money came from, how much of it there is, and where your roots are.
YOUR UNIQUE BACKGROUND
"To become different from what we are, we must have some awareness of what we are."
Many factors can shape which reactions to wealth you will have and how intense those reactions will be. Four of these are: 1) where your money came from, 2) how much of it there is, 3) where you came from, and 4) when the money arrives.
Many Roads to Riches
"A fool and his money are soon parted. What I want to know is how they got together in the first place."
How many ways can a person come into money? We don't know, though at one point we tried to list them all. Some of the ways we thought of were:
- earning it
- inheriting it
- "marrying" into it
- winning it
- being awarded it (e.g., lawsuits)
- finding it (e.g., treasure hunting)
- creating it (using your talent)
- investing it
- receiving it in an insurance settlement
You can probably add several other ways to come into a fortune but they may not be legal or common. For example, Mel Brooks and Carl Reiner's 2,000 Year Old Man could be rich today, for as Andrew Tobias pointed out, "A penny continuously invested at just 2% from the day Jesus was born would today be worth $198 trillion -- a thousand times over."2
However you got your money will affect your reaction to it.
"I come from a mixed-class and mixed-race background. My mother is from a well-to-do WASP family and my father is from a black working-class family. We never talked about money though. When I was younger, I didn't even realize that my grandparents had substantial wealth. I started to become aware of it as I got older, but it wasn't until it was confirmed in other ways that I really knew it. Once, in my grandparents' home town, someone realized that I was their granddaughter and said 'So, you come from a family with money.' I think the racial difference may be a part of why my grandparents' class position was unclear to me. I'm not sure.
"Recently, I found out that there is a trust fund through my mother's parents. I'm really curious, but there have been few discussions about it. I almost asked about it, but I chickened out. I'm sure I'll find out more in the future and that it will change some things, but I'll take that as it comes."
"My grandfather was a Holocaust survivor and the money he made was his way of making up for not saving his family members. With his daughter, my mother, it was a way of expressing emotions. But this was unspoken, of course. I don't really discuss money with my grandmother. I do talk about it with my mother, though. She and I are dealing with a lot of the same stuff around it, and she's pretty much the only one I talk to."
"In general, I try to stay out of my mother's philanthropy because of the relationship we've had around money. When she was supporting me, it was very difficult to get on the phone and ask for money. Eventually, I decided I would never ask for money for myself again and from then on I supported myself. Yet, she has been very supportive of things that I care about. And at times, I've enlisted her support for particular projects I think she will care about. For example, once, I asked her to give a piece of art to an art auction for ACT-UP as a birthday gift to me. Asking for that kind of support has been entirely different and the change has been a part of our growing up together."
The Size of Your Fortune
"Wealth, after all, is a relative thing, since he that has little and wants less is richer than he that has much and wants more."
The size of your fortune can affect your emotional reactions to it. Coming into smaller amounts of money, the evidence shows, does not create the same issues as coming into larger amounts. So, what is enough money to cause some disorientation or upheaval in somebody's life? It is impossible to set a fixed amount. For one person it may be $5,000, for another it may take $50,000, and for yet another it may take $500,000. One author has suggested that if you come into more than 5% of your annual income, your pleasure from the money decreases. "Money produces the most pleasure when it is small enough not to affect how we define ourselves financially; when we can 'blow it' on a treat of some kind."3
Our benchmark is three months salary or income. Sums in excess of that often raise basic life issues causing the recipient to seek new strategies in dealing with money. With this amount of money, you can choose to take time off from work and re-evaluation your priorities.
Where you come from directly affects your responses to new wealth. Your origins include your:
- social class at birth
- ethnic group
- region (e.g., European, Sun Belt, Rust Belt)
- birth order (e.g., oldest, middle, youngest)
- sexual orientation
All these factors may affect your attitude toward your fortune. Three of them -- social class, generation, and the time when the wealth comes -- touch every aspect of the responses to wealth.
Class: The Hidden Distinction
In the United States, class is often a hidden distinction. In accordance with one of our most cherished national myths, people call themselves middle class unless they are at the farthest extremes of poverty or wealth. While our class structure is not nearly so rigid as [others], it exists.
This conscious lumping of everyone into the same class satisfies the egalitarian ethos that runs through our culture. But, it does not help you in understanding how wealth affects you because it gives you no bearings for locating yourself in society.
Even within the traditional outline of the class structure there are significant shadings and gradations. A Kentucky coal miner's child will have a significantly different life from a Detroit auto worker's, though they may be first cousins. A lawyer's children have quite different places in society in a Midwest farm town or in an ethnic neighborhood in Chicago. A Tulsa "Oily's" child has a very different status from the child of older Los Angeles' oil money.
Because of the mobility within our society, people move from one class to another. This movement presents its own problems. Suppose your parents work in factories and you are a professor. Are you working class? Suppose your parents are millionaires who are black. Are you upper class?
Whatever your class background, it may affect your money attitudes. For example, people from working class backgrounds may feel that, if wealth comes too easily, it can disappear just as easily.4 But having been poor, they may have learned to save even small amounts of money.
Each generation takes from its experiences a different sense of economic and physical security. For instance, growing up with money before the Depression and then experiencing its sudden loss, followed by World War II's shortages and rationing, led to the depression mentality that many of us have seen in our parents or grandparents. Some still maintain several small savings accounts (to hedge against bank failures), refuse to invest in stocks, and watch every penny.
By contrast, many that grew up in the 1960's came to regard having money as bad. The credos of this generation were never trust anyone over 30 and never trust anyone in the Establishment. Now in there thirties and forties, this group feels conflict over wanting to be successful -- even if that means making money. Jerry Rubin, the sixties radical who moved to Wall Street, is not the only member of his generation to go from nascent beatnik to hippie to capitalist reformer. In contrast, his friend and former ally, Abbie Hoffman, remain[ed] committed to the vision and approach they shared in the sixties.
When the Money Comes
The age at which you come into your fortune can play a key role in your response to wealth. Based on her interviews with 100 adult children of wealthy parents, Joanne Bronfman concluded that those who received money about the time they legally came of age -- between 18 and 21 -- frequently had not yet developed strongly delineated identities.
A large percentage of those Bronfman interviewed handled their wealth by ignoring or denying it for a period. Many felt ashamed that they were unable to deal with the money. But, denial occasionally can be adaptive. Bronfman notes that by not immediately dealing with the money, these young people had a chance to resolve their identity issues without having to integrate the money at the same time.
People who come into wealth later in their lives often try to make up to themselves for the things they never had. One man who grew up in a middle-class home decided to create the home for himself and his children that he always wanted. One way he has done this is to put a television in almost every room. He even has one in his medicine cabinet so he can watch the news as he shaves.
IDENTITY AND SELF ESTEEM
"In touching money we touch the keystone of character."
Identity -- or self-concept or self-image -- is the sum of all the beliefs and images that you hold to be true about yourself. On the other hand, self-esteem -- or self-respect or self-worth -- refers to the degree to which you like and approve of your identity. Put another way, "Self-esteem is the reputation your have with yourself."5 Having money and not having money affect both identity and self-esteem.
Identity's Two Aspects
Your identity has two aspects: your sense of trust and connection, and your sense of autonomy.
Trust and Connection
Your sense of trust and connection is an aspect of your relationships with others. Wealth can have significant effects on relationships.
The other aspect of identity is your sense of yourself as an autonomous or separate person in the world. In this context, autonomy refers to the active self-governance of our own lives. Your life work, the labors of your life including your career and all your other creative efforts, is an important part of your autonomy. Having money may reduce or eliminate the economic need to work. Because people tend to define themselves and others by the work they do, the reduction or elimination of the need to work may strip away a significant portion of self-image. How do you answer, "Now, who am I?" A better question to ask yourself is, "Now that I have the power to choose, what is it that I really want to do?" The challenge of autonomy is a major theme for wealthy people.
Wealth and Sense of Self
"It is possible to own too much. A man with one watch always knows what time it is; a man with two watches is never quite sure."
To a large degree, the changes you experience when you receive wealth depends on your current income and values. If you have tried to earn a minimum income in order to avoid taxes, a $100,000 inheritance may force a major readjustment in your lifestyle. In contrast, if you earn $100,000, a $100,000 bonus may lead to changes in your life, but they are not likely to be so drastic. However, your familiarity with money is only one factor in determining how you respond to wealth. Arnold Gilberg, a psychoanalyst, has pointed out that the "people who deal best with the problems money brings are the same people who would have dealt best with their lives even if money had never come in abundance."6 Unfortunately, many of us don't fall into this category.
Coming into wealth -- regardless of its source -- can blast wide open your sense of self because the money may make you feel compelled to reevaluate your priorities and values in order to decide what to do with it. 7 This truth runs directly counter to the popular wisdom that wealth solves problems, rather than creates them. Even rich people, whose experience in life disproves this wisdom, tend to subscribe to it. If you are rich and you harbor this belief, the discovery that your problems are persisting and that new ones are arising can cause severe stress.
How you deal with your problems depends on many factors. One of the most important of these is how you have reacted to receiving your wealth. The following list identifies some of the circumstances that may affect your reaction. In the next section, we will explore the feelings that arise from these circumstances.
Reactions to Receiving Money
How you react to receiving money depends on the interaction of many factors. Some of these are:
- Your age, gender, and ethnic and racial identities.
- Your emotional development in terms of life work and relationships.
- Your self-esteem.
- Your money style.
- The technical knowledge of, and emotional attitudes toward, money you have learned from your family-of-origin, your community, and the media.
- Your class/socioeconomic background and the economic conditions during your upbringing.
- The amount of money you received relative to your income at the time.
- The source of the money.
- If the money was inherited, how the benefactor came into the money.
- The benefactor's attitudes and wishes about the money.
- If the money was inherited or came from a life insurance settlement, whether the death was expected or unexpected.
- The amount of time that has passed and the quality of support you have received between the precipitating event (e.g., accident or divorce) and your receiving the money.
- Your insight into your values and the strength of your beliefs.
- Your current financial condition.
- Your current lifestyle, including community, friends and work.
- The nature of your relationship with a romantic/life partner.
- Current national economic conditions.
FEELINGS WEALTH BRINGS
"Behind every great fortune there is a great crime."
"The gods visit the sins of the fathers on the children."
Phrases like Balzac's and Euripides' can echo in the mind like a curse. They have the sound of absolute truth. Yet, Balzac's statement can be proven false. And the children of many scoundrels do not pay for their father's sins. What is demonstrably true is that many of the rich feel conflict about the sources of their wealth and the fact that they are wealthy.
To deal with your emotions, acknowledge them to yourself. Don't try to block them or disguise them. This section examines many of the emotions wealth brings with it.
Guilt and Confusion
"After a Christmas comes a Lent."
At 26, Tod Frye made almost a million dollars by converting the Pac Man video game into a home video for Atari. A high school dropout, Tod had panhandled before he went to work for Atari. In reaction to his instant fortune, he experienced self-destructiveness and sheer confusion, coupled with feelings of being overwhelmed. "I went out and bought a suit and shirt and I got the $200 dollar cuff links, and there are still people being repressed in El Salvador. And I drive my Alfa Romeo and I say, "It's not this easy. I've been real hungry."8
Tod has been generous with his money. He provided a sizable endowment to the Center for Women and Religion and supports other causes in which he believes. 9 Yet, he was ambivalent about how his money fit into his life. Why should he be rich and comfortable while injustice and hunger exist?
Many rich people feel guilt about the same contradiction. As a people, we have grown accustomed to the clergy and ethicists preaching about the virtues of poverty while we lionize those who accumulate wealth. As individuals, we struggle to integrate these opposing messages into a sensible approach to money. This struggle for integration touches all aspects of our lives, and finds one expression in guilt.
Abandoning One's Origins
Those who have earned their fortune may experience shame or guilt because they believe they have abandoned an important part of their past. Mike came from a ghetto and through hard work made a great deal of money in his moving van business. His wife, Val, enjoyed spending the money and showing off Mike's success, but Mike never used the money for himself. Gradually, he came to realize that although he liked the security of having the money, he felt guilty about doing better than his parents, other members of his family, and the kids he grew up with.
Whatever the source of guilt or shame, the danger arises if it distracts you from getting on with your life. You want to be in the position to act on the answers to questions like: Since my name is on the account, what good can I do with it? Since I feel guilty and confused, how can I come to feel useful and directed?
"I think there is one smashing rule; never face the facts."
"Facts that are not frankly faced have a habit of stabbing us in the back."
Maryanne came into her money at 21. After 10 years of scrupulously avoiding any involvement with her money, she decided to assert control over her portfolio, the metaphorical envelope that contains a person's assets. She went to a stock broker who asked Maryanne's bank to deliver her account. Of the assets Maryanne believed she had, one-fifth arrived. Only then did Maryanne learn that, according to the terms of her trust, she only controlled one-fifth of the principal and received income from the other four-fifths.
In the context of wealth, denial occurs when an individual erects a psychological barrier to avoid an active awareness of responsibility for his or her money. In our culture, the receipt or the possession of money defines one as an adult. Yet many heirs receive their wealth at 21, an age when few think of themselves as responsible adults. When young recipients, like Maryanne, are not ready to define themselves as adults, contradictions may arise and denial may result.
Some wealthy persons live out their lives denying (even to themselves) that they are any different from anybody else. Denial has its liabilities. You must severely distort reality in order to maintain the denial. A far better course is to accept and integrate the truth: your money gives you the power to make choices in your life that other people cannot.
"We all covet wealth, but not its perils."
-Jean De La Bruyére
Coming into money may lead to feelings of despair and frustration for those who perceive a conflict between their wealth, their values, and their sense of self. Someone who has spent years struggling just to survive may deeply believe that those with money oppress the poor.
[Many] may feel guilt about the inequalities they see in the world and shame at their inability to change the situation. One solution is to give the money away-and a few wealthy people are taking that route. Others have found their solution in working to change the social and political structures they find objectionable. Still others acknowledge their conflicts but decide that their individual or family needs for security make giving away principal or working for a cause impractical. They devise an alternative course that accommodates their concerns.
Too Many Choices
"Money brings some happiness. But, at a certain point, all it brings is more money."
Those with little money see it as the cure for all life's problems. This magical view of money ("If I only had a million bucks . . .") can be as deceptive as other fantasies ("If I could only lose that 30 pounds . . .").
The abundance of choices wealth brings is, of course, a privilege granted few in our society. Wealth can enhance one's self-esteem, inner security, and personal satisfaction.10 After all, you have the financial power to define and work toward your personal goals.
Nonetheless, you can feel that you have too many choices. A multitude of choices -- especially when combined with a strong, wealth-related emotion such as guilt or inadequacy -- may paralyze you. This paralysis can occur when persons who suddenly receive money try to maintain the same work schedule and productivity schedule they did before it arrived.
The effect of receiving money can resemble the mid-life crisis. Faced with choices, you may unexpectedly find that you are asking yourself, "Do I really like what I do? Is this lifestyle right for me?" These may be questions that you didn't have the option to pose before. All too often, dealing with such questions results in confusion and depression. When you can do anything you want, how do you decide what you want?
With some notable exceptions, the amount of money you have generally correlates to your status in society. (Mafiosi and drug dealers are the obvious exception.) Suddenl wealth can destroy that correlation.11 The trauma this causes often leads the newly rich to ask themselves, "Am I entitled to this money?" If their answer is no, they are unlikely to use their fortune in any way that they will ultimately find rewarding.
Those who inherit wealth may ask, is this really my money? When the money is from a trust fund, it's more difficult to answer that question "yes." Legal and institutional forces keep you from dealing with the trust assets. As one trust fund beneficiary put it, "I did not feel that it was mine . . . I sort of felt like I had to call up when I needed money for something. I would feel as if I was borrowing from them."12
Marie was an extremely successful computer programmer. In exchange for various programs, she had received stock in several small companies that had made her wealthy. Still, she saw herself as a computer nerd. One evening at an outdoor bluegrass concert she found herself in the middle of a group of people talking obsessively about Capitalist pigs. She felt ashamed, nervous, and conflicted. These were the type of people with whom she felt most comfortable. What would they think of her if they ever discovered how wealthy she was? She didn't like the direction of corporate America any more than these folks did, but would they believe it? And anyway, what had she done to deserve money? It just came from doing what she liked. She didn't think she deserved it any more than anyone else did.
When successful people feel that their real value is less than the money they have, they sometimes regard themselves as imposters.13 Their self-esteem is low. And, as Dr. Judith Silverstein, a clinical psychologist, has noted: "If self-esteem is low, people will often just leave the money and not do anything with it; when they feel better about self-esteem, they'll begin to own the money as theirs." People become stuck, she says, "when there is an incongruence between material wealth and internal wealth."14
According to Elliot Jacques, when individuals depart -- upward or downward -- from their self-evaluation of their worth, the result may be dissonance (an incongruence between information arriving at the moment and information already stored in one's brain). An inflow of money that far exceeds the work put into producing it causes the trauma of wealth. People who come into a lot of money in a short period are "peculiarly prone to this trauma: in their hearts, they feel themselves to be cheats and frauds who are going to be found out, who are going to be brought down in the end, and punished for their hubris."15
The new rich sometimes feel that they must spend considerable sums on the trappings they associate with the upper class -- furs, jewelry, fancy cars and the like. They believe that their money has purchased the right to belong to that class.
"Pessimist: One who, when he has the choice of two evils, chooses both."
The more extreme the change in class and wealth, the more difficult the transition. W. H. Auden has summed up this phenomenon in a sentence that bears close reading: "To have the desires of the poor and be transferred in the twinkling of an eye to a world which can only be real for those who have the desires of the rich is to be plunged into the severest anxiety."16
Uncomfortable around old friends, unsure of yourself socially, unclear as to what is expected of you, and afraid you are not up to the challenges of your wealth, it is little wonder that you may experience depression following the receipt of your wealth.
Anger motivates may individuals who want to let the world know that they have made it, despite everything. "I'll show them!" is what they've said to themselves for years.
Anger may also arise from a belief that you have been betrayed by old friends. The cause of this feeling may be your perception of their envy, hostility, or just lack of empathy. Ironically, their reactions may come from a sense that you have betrayed them by acquiring wealth. This mutual alienation (withdrawal from a formal attachment or sense of belonging) can lead to anger which may be expressed in a "this is me; take me or leave me" attitude.
"When you are at the end of your rope, tie a knot and hang on."
-Frankin Delano Roosevelt
People who have not had the experience find it hard to appreciate the pure panic that receiving money can produce. Panic is common reaction regardless of how the money came or whether it was a surprise. As the coordinator of donor development of the Women's Foundation in San Francisco, Tracy Gary has spoken with hundreds of women who have called her for help having heard of the foundation's workshops and inherited wealth support groups. A sense of isolation about having inherited money is the issue that most often is initially described by inheritors. Many discuss frustration with family members, friends, and financial professionals. Often the stories which are told are filled with emotion and a sense of hopelessness, or the feeling (ironically) of powerlessness.
"There are two things to aim at in life: first, to get what you want; and after that, to enjoy it. Only the wisest of mankind achieve the second."
Logan Pearsall Smith
Negative responses are definitely not the only ones people have when they receive money. Exuberance and euphoria are also common. Thrilled with the vistas opening up before them, many who have recently acquired wealth feel like a wonderful dream has just come true. One woman said that, as she unpacked the crate of goods she just inherited, she felt certain that she was dreaming and would soon awaken to find none of it real.
Sometimes exuberance causes people to make rash promises or commitments that they should not rush into. Or, the euphoria may dissolve into fear of all the new responsibilities and challenges you face. But exuberance can also settle into a quiet acceptance of your new status.
Many wealth holders learn to integrate the new money into their lives in ways that do not upset their lifestyles, values, sense of self, and relationships with others. They succeed in bringing the parts of their personalities together in a whole and, therefore, in unifying their money attitudes and their self-image. Those who succeed in adjusting to money do not feel compelled to change their lives immediately. They take their time and suspend judgement about themselves and their lives.
"Nobody can think straight who does not work. Idleness warps the mind. Thinking without constructive action becomes a disease."
When people are rich enough to do whatever they like, they may find, instead of freedom, a deep sense of loss. A core sense of self-purpose may disappear, or in some cases, it may never have developed. Said a person who inherited money, "Sometimes I feel as if everything I have done in my life has been a hobby."17 This reaction can be devastating. It becomes a challenge to find a sufficiently meaningful way to fill the time.
However, those who can afford to, often avoid menial or meaningless tasks or ones that require particular training, skills or hard work. At the back of the wealth holder's mind always lies the knowledge that someone can be hired to do it. Thus, wealth demands a very high level of discipline from its possessors. Unfortunately, the children of wealth may not have had the opportunity to develop the skills or knowledge for specialized tasks or to learn self-discipline. Rock stars and professional athletes suffer from this lack of preparedness when they must find new careers outside of the limelight.
CONCLUSION: SUSPEND JUDGEMENT
Mary feels guilty whenever she sees people living on the street. She doesn't know whether to offer money, go for help, or ignore them. Will is quitting work to travel in Europe next summer, but he feels he would be flaunting his wealth if he told his fellow workers of his plans. He has stopped going out to lunch with them for fear that they would ask too many questions. Mary and Will are mired in guilt and shame about having more money than those around them.
How do you handle the guilt, the shame, the euphoria, the lack of control and all the other conflicting feelings money can bring? Obviously there are no easy answers. But we have learned that it is important to suspend value judgements on yourself as you begin to examine how money fits into your life.
"My family income has steadily increased over the years. My parents are both schoolteachers and made a decent living, but they worked additional jobs to do things like pay for private school. One of the ways that my father has made additional income is through gambling. Unlike most people, he is very skillful at it and it has provided my family with substantial income.
"The difficulties I've had in my relationship with my mother since I inherited the money are really illuminating. I have seen women in my family who didn't work, but I always knew I'd have to work, for my own sense of self. My mother has not worked in over ten years now and has not taken responsibility for her financial security. We have had a serious role reversal to the point that I helped her buy a house this past year, after having paid the mortgage on the house she was previously living in. The relationship continues to be a struggle.
"There is one organization I contribute to where I was initially approached by a board member who was a friend of mine. Initially, I contributed because my friend asked me to. But the excellent work of this organization triggered my interest in access to media for poor and working-class people. Now I contribute because I believe the group is committed to helping urban young people gain access to technology and using it to project their voices and their view of the world.
- Cyril Fletcher as quoted in R.W. Kend ed., Money Talks (New York: Facts on File, 1986), 81
- A. Tobias, "10 Ways to Get Rich," Parade, March 16, 1986, 9.
- P. Slater, Wealth Addiction (New York: E.P. Dutton, 1980), 49.
- A. Wilber, "The Pursuit of Money," Science Digest, September 1985, 93.
- L.T. Sanford and M.E. Donovan, Women and Self-Esteem (New York: Penguin Books, 1985), 6.
- As quoted in J. and R. LeBlanc, Suddenly Rich (Englewood Cliffs, NJ: Prentice Hall, 1978) , 180.
- A. Szmyt, conversation with the authors, May 27, 1987.
- R. Gerdner Jr., Young, Gifted and Rich (New York: Simon & Schuster, 1984), 203.
- Dr. Judith Silverstein, conversation with the authors, May 5, 1987.
- Lewis Yablonski, as discussed in LeBlanc and LeBlanc, Suddenly Rich, 181.
- C.H. Russell, Upper Class Women and Men in the United States. Ph.D. dissertation, Columbia University, 1984. (University Microfilms Intl., 1986, 84-27463), 246.
- See generally, P.R. Clance, The Imposter Phenomenon (Atlanta: Peachtree Publishers, 1985) .
- Dr. Judith Silverstein, interview with the authors, May 8, 1987.
- As discussed in T. Wiseman, The Money Motive (New York: Random House, 1974), 59, 62.
- W.H. Auden, Introduction to A. Yezierska, Red Ribbon (New York: Persea Books, 1950), 915
- Vanguard Public Foundation, Robin Hood was Right (San Francisco: Vanguard, 1977), 63.
The Challenges of Wealth
(Homewood, Ill.: Dow Jones Irwin, 1988)