The answer to this question depends not only upon the society, but also on the subculture within that society. For example, in an academic society, especially in the natural sciences, there is a high premium on intelligence. When Albert Einstein was presenting his Theories of Relativity, people showed up en masse to see what a genius looks like. They may not have understood his mathematics and its implications, but they were mesmerized by his aura. More recently, people flocked to see Andrew Wiles speak about his proof of Fermat’s Last Theorem. But those who came to see Wiles were mostly well-educated people with an interest in academic issues. The academic subculture in most societies places a high premium on education and intelligence.
However, most people value intelligence when it manifests as high monetary gain. Even though Steve Jobs and Jeff Bezos were gifted students, they were not admired so much for their intellectual acumen as for the gigantic wealth that it generated. The status of “richest” person in the world brings more admiration from most people, than the “smartest mathematician on the planet” –except for those in the subculture described above.
In the business world, success is measured in dollars. Whether it’s the stock market, books sales or the value of an athlete, monetary value is the common denominator for assessing worth. Among members of the middle class, success is usually measured in monetary terms expressed by the neighbourhood in which you live, the kind of car you drive and the kind of clothes you wear. While education is often valued as a means of generating a large income, academic occupations are often disparaged because they don’t promise the monetary rewards available in other professions.
Research reported in Intelligence: Where we Were, Where we Are & Where we’re Going, suggests that we humans compare and judge ourselves relative to others–a psychological perception that American sociologist Samuel Stouffer called relative deprivation. This is the tendency of a person to assess their status relative to others in their group, rather than in absolute terms. Our self-esteem is enhanced when we outperform others in income, or wealth and it is diminished when others surpass us. As Gore Vidal observed, “It’s not enough to succeed. Others must fail.”
Why is money so important in the most affluent societies? The answer is simple: money is power–the power to get the amenities you want, the services you desire and the top medical and legal professionals to serve you. Most importantly, it provides you with free time in which to pursue your goals in life without serving the needs of an employer. As the iconic postcard stated, “If you’re so smart, why ain’t you rich?”
