The Atlantic, March 2, 2020: Why So Many Americans Don’t Talk About Money
Americans love to talk about how Americans hate to talk about money. Indeed, recent surveys from financial and market-research firms have found that in 34% of cohabiting couples (married or not), one or both partners couldn’t correctly identify how much money the other makes; that only 17% of parents with an income above $100,000 a year had told (or planned to tell) their children how much they earn or their net worth; and that people are “more comfortable” talking with friends about marital discord, mental health, addiction, race, sex and politics than money.
Even if America’s money taboos are not exceptional, their strength derives from conditions particular to the U.S. “I think it has something to do with the incompatibility of the idea that we have a democracy in which all citizens are equal and the fact that we have a class system that produces a lot of inequality,” said Rachel Sherman, the sociologist. Other countries might have high levels of inequality too, she noted, but perhaps weaker democratic ideals and less faith in meritocracy.
