Study: Rich People More Unethical Than Poor People; Result of Upper-Class People's Tolerance of Greed

The Global Post website reports today (February 28, 2012) that -- based on the findings of a new study -- rich people are more unethical and likely to cheat, break the law, and behave badly towards other people.

Researchers from the universities of California and Toronto found that wealthier people are more apt to behave unethically than those who had less money.

The study contradicted the notion that poor people are more likely to act unethically out of financial necessity.

The authors of the study said that the differences in ethical behavior could be explained -- at least in part -- by the upper-class participants' more favorable attitude toward greed. A well-known example of the desire for greed is the modus operandi used by ponzi scheme operator Bernie Madoff -- now in prison with no possible parole -- who cheated scores of people out of more than a billion dollars.