Poor Richard’s Principle

The American Dream is in serious danger, according to Robert Wuthnow--not because of economic conditions, but because its moral underpinnings have been forgotten. In the past this vision was not simply a formula for success, but a moral perspective that framed our thinking about work and money in terms of broader commitments to family, community, and humanitarian values. Nowadays, we are working harder than ever, and yet many of us feel that we are not realizing our higher aspirations as individuals or as a people. Here Wuthnow examines the struggles in which American families are now engaged as they try to balance work and family, confront the pressures of consumerism, and find meaning in their careers. He suggests that we can find economic instruction and inspiration in the nation's past--in such figures as Benjamin Franklin, for instance, who was at once the prudent Poor Richard, the engaged public person, and the enthusiastic lover of life. Drawing on first-hand accounts from scores of people in all walks of life and from a national survey, the book shows that work and money cannot be understood in terms of economic theories alone, but are inevitably rooted in our concepts of ourselves and in the symbolic rituals and taboos of everyday life. By examining these implicit cultural understandings of work and money, the book provides a foundation for bringing moral reasoning more fully to bear on economic decisions. It re-examines the moral arguments that were prominent earlier in our history, shows how these arguments were set aside with the development of economistic thinking, and suggests their continuing relevance in the lives of people who have effectively resisted the pressures of greater financial commitments. Demonstrating that most Americans do bring values implicitly to bear on their economic decisions, the book shows how some people are learning to do this more effectively and, in the process, gain greater control over their work and finances. At a time when policymakers are raising questions about the very survival of the American dream, Poor Richard's Principle offers an analysis of how moral restraint can once again play a more prominent role in guiding our thinking.

Acknowledgments
Introduction: The Question of Moral Restraint 3

Ch. 1 Having It All - and Wanting More: The Social Symptoms of Cultural Distress 17

Ch. 2 Making Choices: From Short-Term Adjustments to Principled Lives 37

Ch. 3 Moral Tradition: The Lost Ambivalence in American Culture 59

Ch. 4 Shifting Perspectives: The Decoupling of Work and Money 85

Ch. 5 Accounts: The Changing Meanings of White-Collar Work 105

Ch. 6 (Not) Talking about Money: The Social Sources and Personal Consequences of Subjectivization 138

Ch. 7 Getting and Spending: The Maintenance and Violation of Symbolic Boundaries 169

Ch. 8 The Working Class: Changing Conditions and Converging Perspectives 206

Ch. 9 Family LIfe: The New Challenges of Balancing Multiple Commitments 241

Ch. 10 Rediscovering Community: The Cultural Potential of Caring Behavior and Voluntary Service 265

Ch. 11 The Quest for Spirituality: Ambiguous Voices from America's Religious Communities 292

Ch. 12 Materialism and Moral Restraint: The Role of Ascetic and Expressive Values 331

Ch. 13 The Possibilities of Moral Discourse: Limitations, Pathologies, and Challenges 357

Methodology 375

Notes 377

Index 427