Wealth Addiction

Now if you are wondering what the heck this term means,just read the quote below:

The term was coined by Philip Slater and is the title of his book dating from the 1980s. Should you wish to read it,you can get a copy here:Link.I can’t say I endorse all his arguments but the book will give your brains a workout and get you to see things from interesting angles.

In my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. I was 30 years old, had no children to raise, no debts to pay, no philanthropic goal in mind. I wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted.

After graduation, I got a job at Bank of America, by the grace of a managing director willing to take a chance on a kid who had called him every day for three weeks.

The end of my first year I was thrilled to receive a $40,000 bonus. For the first time in my life, I didn’t have to check my balance before I withdrew money. But a week later, a trader who was only four years my senior got hired away by CSFB for $900,000. After my initial envious shock –his haul was 22 times the size of my bonus — I grew excited at how much money was available. Read more of this post