The Money Delusion

Abstract

One of the signature tunes in the famous musical Cabaret is “Money,” which “makes the world go around.” In their burlesque and mocking duet, the singers create the illusion that with money, everything is possible. And they are not alone in this magical thinking. All of us have irrational, magical ideas about what money can do for us, and for others. How many times have you had that “If I won the lottery…” conversation? Clearly, with money, we increase our options. With money, we have a greater freedom of choice. Doors that would previously have been closed might suddenly open up.

Wealth consists not in having great possessions, but in having few wants.

—Epictetus

A wise person should have money in their head, but not in their heart.

—Jonathan Swift