Money as tool, money as drug: The biological psychology of a strong incentive

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Money as tool, money as drug: The biological psychology of a strong incentive

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Title: Money as tool, money as drug: The biological psychology of a strong incentive
Author: Lea, Stephen E G
Webley, Paul
Citation: Behavioral and Brain Sciences, 29 (2), 161-209, April 2006
Publisher: Cambridge University Press
Journal: Behavioral and Brain Sciences
Date Issued: 2006-04
DOI: 10.1017/S0140525X06009046
Abstract: Why are people interested in money? Specifically, what could be the biological basis for the extraordinary incentive and reinforcing power of money, which seems to be unique to the human species? We identify two ways in which a commodity which is of no biological significance in itself can become a strong motivator. The first is if it is used as a tool, and by a metaphorical extension this is often applied to money: it is used instrumentally, in order to obtain biologically relevant incentives. Second, substances can be strong motivators because they imitate the action of natural incentives but do not produce the fitness gains for which those incentives are instinctively sought. The classic examples of this process are psychoactive drugs, but we argue that the drug concept can also be extended metaphorically to provide in account of money motivation. From a review of theoretical and empirical literature about money, we conclude that (i) there are a number of phenomena that cannot be accounted for by a pure Tool Theory of money motivation; (ii) supplementing Tool Theory, with a Drug Theory enables the anomalous phenomena to be explained; and (iii) the human instincts that, according to a Drug Theory, money parasitizes include trading (derived from reciprocal altruism) and object play.
Type: Article
Description: © Cambridge University Press 2006. Published version reproduced with the permission of the publisher.
Keywords: economic behaviourevolutionary psychologymoneymotivationincentivereciprocal altruismgivingplay
ISSN: 0140-525X

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