Looking back at this morning’s post, it may have seemed a bit atypical for me to highlight a study that has nothing to do with politics, religion, racism, or any of the other usual suspects for this blog. In the early days of the Manifesto I realized that it was important to have a focus – in order to build a ‘brand’ one must be associated with an idea (or even a handful). Over the past couple of years this ‘focus’ has been rather malleable – shifting as my own personal interests do. However, insofar as this blog is an attempt to unify my own thoughts and ideas and provide myself (and you) with some insight into how my thought process works when synthesizing new information.
When I first read the fact that there was a study that demonstrates that rich people are jerks, I was prepared to laugh it off as just one of those interesting, quirky psychological discoveries. But as the days passed, I realized that there was quite a bit more depth to it. Many of you (hopefully) remember my series on System Justification Theory where we explored the theoretical underpinnings of why people who are relatively lower status may embrace behaviours and attitudes that work to the advantage of the outgroup rather than selfishly. Since we are talking about power and status, there is an opportunity to explore the extent to which greed increases someone’s system justifying behaviour. Are low-status people who have positive attitudes about greed approve when high-status people subvert the rules? Are they more motivated to excuse unethical behaviour by those in power? If such a correlation exists, could it possibly explain why someone like Newt Gingrich still has political support among evangelicals despite his rampant infidelity?
Does this overlap between greed and SJT explain perhaps the backlash against the #Occupy movement – why Romney’s characterization of the justifiable anger against the excesses of the financial elite as ‘jealousy’ resonates with voters who are getting screwed by the same elites? How does this potential psychological phenomenon affect the way people interpret news like this:
But many researchers have reached a conclusion that turns conventional wisdom on its head: Americans enjoy less economic mobility than their peers in Canada and much of Western Europe. The mobility gap has been widely discussed in academic circles, but a sour season of mass unemployment and street protests has moved the discussion toward center stage.
One reason for the mobility gap may be the depth of American poverty, which leaves poor children starting especially far behind. Another may be the unusually large premiums that American employers pay for college degrees. Since children generally follow their parents’ educational trajectory, that premium increases the importance of family background and stymies people with less schooling.
What implications would understanding a climate of greed and the ethical lassitude that accompanies it have when we add system justifying into the mix? If we can find ways to convince people that greed isn’t good (contra Gordon Gekko), will we see an adjustment in the amount of support for social programs that level the playing field? Will politicians who adopt an ‘investment’ model rather than a ‘free market’ model gain more traction?
Many of you may have read this resignation letter from a (former) Goldman Sachs executive:
Today is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.
How does this reaction to corporate greed connect to Goldman’s unethical practices (as detailed in the letter)? Is it always the case that the extremely wealthy will become avariciously unethical, or is it greed that separates a Lloyd Blankfein from a Warren Buffett? Many praised Greg Smith (the letter’s author) for showing a level of morality that one does not commonly see among the very rich. Is that ‘morality’ borne of an organically superior sense of right and wrong, or simply a less favourable view of greed?
System justification produces unfavourable attitudes that fall along racial and gender lines, and operates implicitly (subconsciously). If greed is mixed in to the system justifying process, does that contribute to the atmosphere that results in fewer women and minorities being promoted to executive positions? Do the double standards that make identical actions look ‘assertive’ in men and ‘bitchy’ in women come from a subconscious approval of a culture of greed? Would encouraging people to think of greed unfavourably create a more demographically balanced environment? Can this help to explain why economically ‘left’ groups tend to be more inclusive of minorities than economically ‘right’ ones?
Finally, how do we moderate approval of greed? Does merely exposing greed make people think unfavourably of it, or do we have to focus our attention on the downsides? How can we separate (unhealthy) greed from (healthy) competitiveness? Are they two sides of the same coin, or is there a way to encourage innovation and discovery without having to accept the phenomenon of people pulling each other down rather than pulling themselves up? Do we as skeptics have a role to play in unpacking the subconscious baggage of greed, or is that a job for educators and public figures? Is greed biological or sociological – do we see parallel behaviours in animal species?
These are big questions, and I certainly don’t have answers for them. However, the more I look around, the more I see that things are connected.
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