Argumentum ad crumenam

An "argumentum ad crumenam" argument, also known as an argument to the purse, is a logical fallacy of concluding that a statement is correct because the speaker is rich (or that a statement is incorrect because the speaker is poor).

This fallacy is notably prevalent in art, movie, video game, or music criticism in the form "you can try to criticize product "x", but it makes millions, so it must have some merit."

This fallacy is also applied in the business world, especially in securities trading.

The opposite is the "argumentum ad lazarum".

Usage

:"If you’re so smart, why aren’t you rich?"

:"I think Mary is a good role model. She’s pretty rich, so she must be doing something right."

:"This new law is a good idea. Most of the people against it are riff-raff who make less than $20,000 a year."

:"Bill Gates is the richest man in the world. Therefore, he must be the smartest man in the world."

:"They're just rednecks. What do they know?"

References

* [http://education.gsu.edu/spehar/FOCUS/EdPsy/misc/Fallacies.htm Georgia State University]
* [http://www.philosophicalsociety.com/Logical%20Fallacies.htm Philosophical Society - logical fallacies]