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ERIC Number: ED306494
Record Type: Non-Journal
Publication Date: 1988-Apr
Pages: 42
Abstractor: N/A
Reference Count: N/A
The Meaning of Money Revisited: The Development of the Money Ethic Scale.
Tang, Thomas Li-Ping
Despite the fact that money is important in everyday life, there is a dearth of empirical material and research concerning the meaning of money and people's attitudes towards money in the psychological literature. This study examined the underlying concepts or beliefs people hold about money and the extent to which different needs can be fulfilled by money. Subjects (N=689) were adults in a variety of occupations who responded to a 25-page questionnaire measuring attitudes towards money as well as other variables, including the Money Ethic Scale. The results of a principal components factor analysis identified six clearly interpretable factors: achievement and obsession, good, power, expression, evil, and management of money. Results showed that males tended to have stronger positive attitudes toward money than did females. The overall value of money was associated with theoretical, economic, and political values and was negatively associated with aesthetic, social, and religious values. People's perception of money as a symbol of achievement and obsession was associated with many aspects of dissatisfaction with the job and life. Compared with previous studies, results supported the validity of the Money Ethic Scale. However, it appears that people's attitudes toward money may be influenced by sex, economic status, experiences, associates, employment situation, and many personality variables. (ABL)
Publication Type: Reports - Research; Speeches/Meeting Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A