Why is it customary in some societies to give wealth away, while in other societies wealth is hoarded?
Anglų esė. Why is it customary in some societies to give wealth away, while in other societies wealth is hoarded?
Clifford T. Morgan (1947) had dedicated his studies to understand the phenomenon of hoarding, which the scientists considered to cross the limits of sensible finance managing as it did not make much sense to collect valuables and money throughout one’s life without a clear goal or established intent of using them (p.335). He had conducted multiple experiments with rats, aiming at tracing the behavior to our instinctive nature, which would then explain the irrational behind the act of hoarding. Indeed, Morgan had found that rats tend to instinctively start hoarding food if they sense that their living environment is unstable and the food might not always be at hand (Ibid, p.336-337). On the other hand, based on experimental observations, Morgan concluded that hoarding is not a purely instinctive behavior – it manifests as a survival mechanism in unstable environment and it is not an instantaneous and automatic response to food instability, instead, the hoarding practice develops over time after multiple experiences of food shortage (p.335-340). Humans are not rats. However, similarly to rats, humans also tend to make decisions that would enable them to survive in an unstable living environment. Sutti Ortiz (2005) points out that when it comes to decision making, a human, as a rational actor, carefully weighs all the available options of action and chooses the one, which would maximize his own utility within certain environment (p.63). Thus, it is not only about pure survival, when it comes to analyzing the economic decisions of humans in unstable environment, it is also about choosing the most profitable economic discourse and the most effective mechanism to cope with economic uncertainty (Ibid, p.65).