3F) Figure out the words by their definitions:

• to use something again, often for a different purpose

• a piece of clothing

• a lot of money

• ashamed of something and worried about what other people will think of you

• a well into which one drops a coin and makes a wish

• unwilling to spend, give, or use a lot of money

3G). Which people do these words describe? Why?

thrifty skinflint well off hard up privileged underprivileged

3H) Compare these people’s relationship with money. Using the words in bold from the texts describe your relations with money.

Discuss how money (or the lack of it!) affects your life.

Ex 4a) Read the article below. What is its main idea? How is our sense of well-being connected with money? Explain what kind of studies were carried out, what were their results and what do these result mean (what conclusion do they suggest).

Why Wealth Doesn’t Always Buy Happiness

If the purpose of the market economy is to increase national or average income, it does a pretty job – better the most known alternatives. If the purpose is to increase people’s satisfaction with their lives, the market economy does much less well.

Studies in economies show, that foe every 1,000 pound increase in income there is, indeed, an increased sense of well-being – but only for the poorest fifth of the population. Beyond that, there is almost no increase in people’s satisfaction with their lives as income levels increase. The rich are no happier than the middle classes and the upper middle class is no happier than the lower middle class. Beyond poverty or near-poverty levels of income, if money buys happiness, it buys very little and often it buys none at all.

This is strange, because market economists report that the purpose of the market is to maximize the satisfaction of human wants, but they measure that in a circular manner: satisfaction with something is revealed by the very fact that it was bought.

Yet studies show that the things that contribute most to a sense of well-being cannot be bought, such as a good family life, friendship, work satisfaction, and satisfaction with the users of one’s leisure. There is little relation between these things and people’s incomes. For many people security of income actually contributes more to measured well-being than does level of income.

Most people believe that if they had 25 per cent more income they would be much more satisfied with their lives, but those whose incomes are now at that higher level are not more satisfied with their lives. Why are we so easily deceived about something that is central to our happiness? One reason is that changes in income do briefly influence our sense of well-being – and decreases make us more miserable than increases make us happy. But even the happiness that comes with an increase in income does not last long, for very soon the new level of income becomes the standard against which we measure our achievements.

Many studies show that people are not good at explaining why that feel good or bad, for people use conventional explanations of the sources of well-being. And the market ideology says that source is money. According to a recent study at the University of Michigan, when people were asked what activities they enjoyed most, they ranked their actual work activities higher than anything except playing with their children and talking to friends – and much higher than watching TV. Work is a major source of life satisfaction. Of all the sources of well-being, a satisfying family life is the most important and this form of satisfaction does not vary with income except at the bottom; poverty is associated with family misery. To promote “family values”, policy should be directed to the relief of poverty.

Because satisfaction with the work one does is central to a sense of well-being, full employment should be the primary objective of economic policy.

GLOSSARY

average income – средний доход

beyond poverty level – за чертой бедности, ниже прожиточного минимума

bottom – дно, крайне низкий уровень

briefly – недолго

conventional – обычный, традиционный

decrease – снижение, уменьшение, спад

employment – занятость (рабочей силы), работа

increase – увеличение, возрастание, рост

leisure – досуг, свободное время

level – уровень

market economy – рыночная экономика

miserable – несчастный

objective – цель, стремление

purpose – цель, намерение, назначение

relief – снижение, уменьшение

satisfaction – удовлетворение

security – надежность, стабильность

sense – чувство, ощущение

source – источник

to contribute – содействовать, способствовать

to deceive – обманывать, вводить в заблуждение

to increase – возрастать, увеличивать(ся), расти

to influence – оказывать влияние, влиять

to last – продолжаться, длиться

to maximize – максимизировать, увеличивать до предела

to measure – измерять, оценивать, определять

to promote – способствовать, содействовать, поддерживать

to rank – оценивать, давать определённую оценку

to reveal – выявлять

to vary – изменять(ся), менять(ся)

value – ценность

wants –потребности, нужда, необходимость

wealth – богатство, состояние

well-being – (материальное) благосостояние, достаток, благополучие

Ex 5a) Charity. Answer the questions:

• Have you given money to anybody on the street recently?

• If not, do you ever give money?

• Is begging prohibited in your country?

• Do you often see people asking for money on the streets in your town or in other towns in your country?

• . What do you think is the best way to help people who ask for money on the streets?