The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
I think that once the program is fully understood the only opponents will be those who enjoy seeing others unemployed. As I have argued, we cannot rule out cruelty. It is part of the human condition. So I do understand that some people like to witness the suffering of others--those they consider to be "undeserving". Cruelty will always exist. But we should never let the cruelest people in our society dictate public policy. As readers will recall, J.M. Keynes recommended directing cruelty toward management of balance sheets rather than toward tyrannizing fellow humans:There are valuable human activities which require the motive of money-making and the environment of private wealth-ownership for their full fruition. Moreover, dangerous human proclivities can be canalised into comparatively harmless channels by the existence of opportunities for money-making and private wealth, which, if they cannot be satisfied in this way, may find their outlet in cruelty, the reckless pursuit of personal power and authority, and other forms of self-aggrandisement. It is better that a man should tyrannise over his bank balance than over his fellow-citizens; and whilst the former is sometimes denounced as being but a means to the latter, sometimes at least it is an alternative. (GT Ch 24)And as recent research demonstrates, we have created a sector of the economy that specializes in employing such people:Studies conducted by Canadian forensic psychologist Robert Hare indicate that about 1 percent of the general population can be categorized as psychopathic, but the prevalence rate in the financial services industry is 10 percent. And Christopher Bayer believes, based on his experience, that the rate is higher. Bayer is a well-known psychologist who provides therapy to Wall Street traders. The type of psychopath the author is writing about is characterized by compulsive gambling. And the Wall Street psychopath doesn't necessarily show up to his or her first day of work in this condition. These "financial psychopaths" generally lack empathy and interest in what other people feel or think. At the same time, they display an abundance of charm, charisma, intelligence, credentials, an unparalleled capacity for lying, fabrication, and manipulation, and a drive for thrill seeking. A financial psychopath can present as a perfect well-rounded job candidate, CEO, manager, co-worker, and team member because their destructive characteristics are practically invisible. They flourish in fast-paced industries and are experts in taking advantage of company systems and processes as well as exploiting communication weaknesses and promoting interpersonal conflicts. Unfortunately-writes the author-the best candidates for many Wall Street jobs exhibit the traits of a financial psychopath. http://www.businessinsider.com/wall-street-psychopaths-2012-2#ixzz1oFcrIIq0I think Keynes might have under-appreciated the damage such psychopaths on Wall Street can do to our economy. In any case, we should not let the cruelty of these psychopaths prevent us from pursuing sensible programs, such as full employment for anyone who wants to work.
As readers will recall, J.M. Keynes recommended directing cruelty toward management of balance sheets rather than toward tyrannizing fellow humans:
There are valuable human activities which require the motive of money-making and the environment of private wealth-ownership for their full fruition. Moreover, dangerous human proclivities can be canalised into comparatively harmless channels by the existence of opportunities for money-making and private wealth, which, if they cannot be satisfied in this way, may find their outlet in cruelty, the reckless pursuit of personal power and authority, and other forms of self-aggrandisement. It is better that a man should tyrannise over his bank balance than over his fellow-citizens; and whilst the former is sometimes denounced as being but a means to the latter, sometimes at least it is an alternative. (GT Ch 24)
Studies conducted by Canadian forensic psychologist Robert Hare indicate that about 1 percent of the general population can be categorized as psychopathic, but the prevalence rate in the financial services industry is 10 percent. And Christopher Bayer believes, based on his experience, that the rate is higher. Bayer is a well-known psychologist who provides therapy to Wall Street traders. The type of psychopath the author is writing about is characterized by compulsive gambling. And the Wall Street psychopath doesn't necessarily show up to his or her first day of work in this condition. These "financial psychopaths" generally lack empathy and interest in what other people feel or think. At the same time, they display an abundance of charm, charisma, intelligence, credentials, an unparalleled capacity for lying, fabrication, and manipulation, and a drive for thrill seeking. A financial psychopath can present as a perfect well-rounded job candidate, CEO, manager, co-worker, and team member because their destructive characteristics are practically invisible. They flourish in fast-paced industries and are experts in taking advantage of company systems and processes as well as exploiting communication weaknesses and promoting interpersonal conflicts. Unfortunately-writes the author-the best candidates for many Wall Street jobs exhibit the traits of a financial psychopath. http://www.businessinsider.com/wall-street-psychopaths-2012-2#ixzz1oFcrIIq0
by DoDo - May 20 23 comments
by Nomad - May 10 14 comments
by JakeS - May 15 7 comments
by Metatone - May 14 85 comments
by ARGeezer - May 16 15 comments
by gmoke - May 17 2 comments
by DoDo - May 12 11 comments
by Migeru - May 6 100 comments
by DoDo - May 2023 comments
by gmoke - May 172 comments
by ARGeezer - May 1615 comments
by JakeS - May 157 comments
by Metatone - May 1485 comments
by DoDo - May 1211 comments
by Nomad - May 1014 comments
by Migeru - May 78 comments
by marco - May 782 comments
by Migeru - May 6100 comments
by Ted Welch - May 35 comments
by afew - May 340 comments
by ceebs - May 26 comments
by gmoke - Apr 301 comment
by Frank Schnittger - Apr 3067 comments
by joelado - Apr 2954 comments
by Metatone - Apr 2854 comments
by ATinNM - Apr 275 comments
by ceebs - Apr 265 comments
by Frank Schnittger - Apr 2686 comments