Money and the Meaning of Life

Why do brilliant people allow their hunger for money to cause their ruin?

by: Paul Swain

Everywhere you look, there's compelling evidence that the single-minded pursuit of wealth often leads smart people to do incredibly stupid things—things that destroy what money can't buy.

Last week, the big story was the conviction of Raj Rajaratnam on 14 counts of insider trading, a greed-driven scheme that will lead to obliterated reputations, long prison terms, or both, for senior leaders at IBM, McKinsey, and other blue-chip institutions.

A few weeks before that, the big story was the resignation and humiliation of Berkshire Hathaway's David Sokol, the likely successor to CEO Warren Buffet, undone by his eagerness to cash suspiciously timed investments in the stock of a company Berkshire later bought.

And next week on HBO we get to see the made-for-TV adaptation of the bestseller Too Big to Fail, a blow-by-blow chronicle of the subprime-mortgage fiasco — an exercise in collective greed that came pretty close to destroying the world as we know it.

Every time I read or see these sorry dispatches, I ask myself the same questions. How is it that brilliant people with more money than they'll ever need allow their hunger for even more money to cause them to lose everything? How much is enough, and why are people willing to risk so much to get more? If money is so alluring, how is it that so many people of great wealth also seem so unhappy?

Since the time I have studied business courses in my university I came across tons of readings, but one man named Jacob needleman stands out with his relevant insights of what's happening today. 

Money may be the root of all evil, but only if you're not honest about what it means to you. "Money is about love and relationships," Needleman explained. "It has a wonderful power to bring people together as well as tear them apart. You can't escape money. If you run from it, it will chase you and catch you. If we don't understand our relationship to money in this culture, then I think we're doomed. If you don't know how you are toward money and really understand that relationship, you simply don't know yourself. Period.

Money truly can't buy happiness, especially if you're unhappy to begin with. "If you are worrying about vegetables now, you'll be worrying about yachts then," Needleman joked. "You're a worrier. It's in you, not the money. Life, except for the obvious physical needs, is not so much defined by the external situation as by the inner one. Having money won't change your internal makeup. If you're an anxious sonofabitch without money, you're going to be an anxious sonofabitch with a lot of money."

Being rich does not make you smart—especially about things other than money. "I heard of a guy who worked his way up from zero to a half-billion dollars," this philosopher noted. "I asked him, 'What was the most surprising thing you discovered when you got rich?' He said, 'Everybody asks my opinion about things because they think I know something. All I really know is how to make a lot of money.' See, this guy wasn't fooled by his money. That's the key!

Being rich does not automatically lead to a rich life. "There is a difference between money and success. To be totally engaged with all my functions, all my faculties, all my capacities in life—to me that would be success. I grew up around the Spanish language, and in Spanish there are about 1,000 words that mean "fool." There's only one word that means an authentic human being: El Autentico Ser hermano.To be successful means to have developed character. You should be looking for the joy, the struggle, and the challenge of work. What you bring forth from your own guts and heart. The happiness of hard work. No amount of money can buy that.! Those are things of the spirit."

It's easy to pass judgment from afar on the misdeeds and missteps of wealthy people in the news. But look in the mirror. What's your relationship with the pursuit of wealth? How do you think about money and the meaning of life?