Upon reading an edifying paper titled "The psychological consequences of money" by Kathleen Vohs, it has been revealed by her work that money does change people psychologically. The paper reveals that money produces in people a sort of psychological isolation where there is a tendency for people to choose to develop a self sufficiency orientation. This self sufficiency orientation makes sense because it is the lack of feeling dependent that people seem to gain from being independently wealthy. The interesting thing though is people who develop the money oriented mindset typically do not want others to depend on them either. To be specific, the reminder of money relative to non-money reminder has an effect as well where people are less likely to seek help from others and less likely to be helpful to others.
Money changes social distance preferences?
The interesting insight from the paper is that money creates a sort of isolation where a participant primed with money is more likely to work alone, play alone, and distance themselves more physically from others. Is this a positive or negative impact? The paper calls it "social distance preferences". This is something I may investigate deeper as there are a lot of new and interesting concepts.
References
Vohs, K. D., Mead, N. L., & Goode, M. R. (2006). The Psychological Consequences of Money. science, 1132491(1154), 314.