As Michael Baughman's grandson Billy is approaching college, he is concerned with instilling in the young man a sound perspective on money and wealth. Baughman records his reflections and conversations with Billy in Money Sucks: A Memoir on Why Too Much or Too Little Can Ruin You. It's a quick, entertaining read, with some thoughtful passages and wisdom from a caring grandfather.
More than anything, I loved reading about Baughman's relationship with his grandson. They lived next door to each other, and after Billy's parents' divorce, Billy spent a lot of time at his grandparents' house. They played games and watched movies together, and had a regular date to shoot baskets and go out for tacos. I would imagine it's rare for an older teen to have as close a relationship with his grandfather as Billy does. That is commendable and worthy of emulation.
Baughman also gets major props for his trail running background. He notes that he hikes and runs trails regularly in the Ashland, Oregon area where he lives, and has run marathons and ultra-marathons. He is acquainted with Hal Koerner, a leading ultrarunner who also lives in Ashland. Based on my experience as a back-of-the-pack ultrarunner, I would concur with Baughman that "ultra-runners are unassuming types who rarely draw attention to themselves, . . . who work hard and never boast about their rare achievements." (By the way, he doesn't mention this in the book, but he was writing about persistence hunting long before Christopher McDougall did in Born to Run! Check out this Sports Illustrated article he wrote in 1978: http://sportsillustrated.cnn.com/vault/article/magazine/MAG1093484/index.htm)
Alas, the ultrarunning content of Money Sucks is very small. It just interested me. . . .
Back to money. Baughman's major theme as he conveys his wisdom to Billy is to help him "see through and well beyond the allure of making as much money as possible." He writes that money is not a means to happiness--quite the contrary, in fact. As a rule, middle class and wealthy people can live on much less than they think, and would be better off pursuing things other than greater wealth. Much of what we buy--homes, luxury cars, fancy watches, etc.--is meant to impress others. Less expensive watches and cars, for example, get the job done for less money.
Baughman quotes from Thoreau and other writers to bolster his message: live more simply, live for experiences not things, don't pursue material things because you have been conditioned to but because you actually need them. In sum, "wanting too much money . . . sucks." Reflecting on the hustle and bustle of modern life, he articulated something I have often thought while stuck in traffic: "I wished that somehow it could be made possible to momentarily stop all the planes and motor vehicles, just long enough to learn where everyone was coming from and where they were going and why, and then to calculate how much of it made any actual sense."
Now to what I didn't like about Money Sucks. Baughman has a narrow, bigoted view of those he views as "rich." "I regard many rich people with a blend composed of equal parts scorn and pity." Rich people often make their money "swindling people, selling people crappy, useless products or lousy ideas, lying, bribing, cheating." And if they inherited money, "there's the question as to whether or not they really deserve it." He discusses an article which demonstrates that wealthier people act more unethically (It's actually sort of interesting and entertaining, for an academic study: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3306667/) The article confirms his opinion "about many rich people being a--holes, certainly some of the time, often much of the time, possibly most of the time in extreme cases." As for making money, money is "a necessary evil." He wonders "how much of the evil does a person actually need, and how low should a person stoop to get it if he really needs it?"
I have little doubt that Baughman is a person of integrity and unimpeachable ethics. But his view of money seems incomplete and disingenuous. He notes that he has, in his adult life, always been right about the middle of incomes. But he has spent his career as an academic and writer. I think many people around the world would love to exchange their lives of manual labor, office cubicle clock-punching, or subsistence farming for his office on a college campus. In fact, at one point he notes that for several years he took off from teaching in the fall semester so he and his wife could spend a few months camping and fishing in Baja California. Sure, he wasn't staying at resort hotels and eating at gourmet restaurants everyday, but many people would label someone who can live like that "rich." I know I can't afford to leave my cubicle for months at a time. . . .
More importantly, though, Braughman spends very little, if any time, on people who are rich because of the contributions they have made to the economy, technology, or culture. Should we have a problem with someone making millions by inventing crucial technology, writing or performing music that inspires us, organizing and distributing goods and services to the benefit of consumers? While it's true that some rich people are a--holes, and some rich people act unethically, and some rich people spend their money in unreasonable ways, and some rich people have no concern for using their wealth and position to advocate for social causes, the same things can be said of people of all classes! Braughman's arguments come across reeking of envy and moral superiority.
I liked this book, and I like Braughman's goal. His personality is a bit caustic when talking about those with whom he disagrees (and I'm afraid I would be one with whom he would frequently disagree!), but I enjoyed reading about his love for Billy, his love of life, and his love of pursuing happiness in a relatively simple lifestyle. I have no doubt that Billy is going to carry on his grandfather's legacy.
Thanks to Edelweiss and the publisher for the complimentary electronic review copy!
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