Transcendence: Conservative Wealth and Intergenerational Succession
This Article investigates a hitherto unexplored connection between money and politics. It posits a psychological explanation for why certain extremely wealthy and powerful tycoons back ultraconservative causes and oppose social spending, even on education, though these measures would benefit the economy as a whole. Employing the concept of transcendence, it shows how wealthy parents are often disappointed in their offspring’s free-spending ways and weak work ethic. Unconsciously seeking to assure continuity after they are gone, the elderly rich shift focus to assure that their class, at least, will continue to rule after their own demise.