The Embarrassment of Riches | The American Scholar - Summer 2006

The Embarrassment of Riches - Pamela Haag

Now this was interesting.  Pamela Haag has written an essay about how the wealthy are different from regular folks, the middle class, the poor.  It just so happens, she has joined the wealthy class, via her husband's commodity trading work.

After the obligatory explanation of how her wealth is earned, she moves on to discuss her upbringing by Depression-era parents who were frugal yet philanthropic.  They didn't trust, didn't like, wealth and, by logical extension, the wealthy were suspect, too.  Yet, Mrs. Haag had a materialistic tendency as a child.

Now, with money, she finds herself changed.  The wealthy don't worry about material possessions.  They concern themselves with leaving a legacy, you know, building a library, adding a hospital wing, things like that.

I know I sound bitter or even hostile, but I'm not.  The essay has important things to say about how the wealthy see things.  She touches on how she must feign concern over such trifles as tuition or healthcare bills, mortgages and property tax rates.  There I go again, feeling on the verge of hostility.

Mrs. Haag does spend a good portion of the essay describing the typical American stupidity when it comes to even the most basic economic principles.  We simply don't understand how the economy works (this is why we believe Keynesian nonsense about government spending leading to prosperity, or better yet, we simply don't care as long as there's cash around.)

I spent the better part of this essay wondering how sincere this person was when they say they are trying to act middle class.  I don't even know what that means.  Does she not want to be in the pond with the other rich folks?  Is it so painful to fit in?  Really?

Her tone regarding run of the mill restaurants and business news was somewhat insulting.  Most middle class Americans don't fret over every movement of the stock market.  Sure, we look at it occasionally, but most of us are more concerned over sports scores and the guest lists for Ellen and Oprah.  And, for goodness sake, American Idol starts next week!

Pamela Haag has troubles.  I wish I could empathize, but I've got to go hit the drive-thru for some fried chicken.  I have a coupon.