Bibliographic record
Abstract
Abstract This paper is based on the conviction that a socioanalytical perspective on capitalist greed—in general and in the context of the recent financial crisis in particular—requires a systemic perspective and must take into account the unconscious dynamics beneath the surface of contemporary capitalism. An excursus into the history and philosophy of greed demonstrates that it is a ubiquitous phenomenon, whose meaning refers both to the individual and 'the social'. Using the psychoanalytic understanding of greed offered by the British psychoanalyst Melanie Klein as a starting point, I see greed as a psychotic dynamic that inhibits thinking, and limits reality to what is bearable and desired. Greed is neither a phenomenon that appeared with the onset of capitalism nor the decisive cause of the recent financial crisis, but it is inherent in the former and became most apparent in the latter. Subsequently, I will elaborate how competition is often fueled by excessive greed that intends to damage or even annihilate competitors, and is the source of corruption and/or fraud. The mere pursuit of maximizing profit, fostered and legitimized by economics for almost half a century, has had a major impact on the prevalence of greed in contemporary economy and the financial service industry in particular. In conclusion, I will refer to what the psychoanalyst Wilfred R. Bion calls 'negative capability' and offer some thoughts about how the psychotic dynamic inherent in greed could be individually and socially more balanced with non-psychotic thinking, which is capable of taking the broader 'reality' into account. Keywords: SocioanalysisCapitalist GreedCompetitionCorruptionUnconscious DynamicsPsychotic Organization Acknowledgement I am grateful to Rose Mersky for her help in editing this paper. Notes 1Winnicott, D. W., Winnicott, C., Shepherd, R. and Davis, M., Deprivation and Delinquency (London: Tavistock). 2Wang, L. and Murnighan, J. K. 'Economics and greed', Paper presented at the 22nd Annual International Association of Conflict Management Conference, Kyoto, Japan, June 15–18 2009, http://ssrn.com/abstract=1488627 (6 September 2010). 3Hoggett, P., 'Perverse Social Structures', Journal of Psycho-Social Studies, 4:1, pp. 1–8, http://www.uwe.ac.uk/hlss/research/cpss/Journal_Psycho-Social_Studies/v4-1/HoggettP.pdf (18 October 2010). 4H. Ganssmann, 'Die Krise, das Geld und wir', Le Monde Diplomatique, October 2008, http://www.eurozine.com/articles/2008-10-21-ganssmann-de.html (accessed 11 February 2010). 5A.F. Robertson, Greed: Gut Feelings, Growth, and History (Cambridge: Polity, 2001), p. 111. 6P.A. Tickle, Greed. The Seven Deadly Sins (Oxford: Oxford University Press, 2006). 7P.A. Tickle, Greed. The Seven Deadly Sins (Oxford: Oxford University Press, 2006), p. 50. 8G. Simmel, The Philosophy of Money, 3rd enlarged edn, ed. D. Frisby, trans. T. Bottomore and D. Frisby from a first draft by Kaethe Mengelberg (London: Routledge, 1900/2004), p. 237, http://copperismoney.com/Files/philosophy_of_money.pdf (accessed 9 August 2010). 11R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 2. 9R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001). 10R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 1 12R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 100. 13R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 131. 14R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 132. 15R.K. Balot, Greed and Injustice in Classical Athens (Princeton, NJ: Princeton University Press, 2001), p. 19. 16Tickle, op. cit., p. 56. 17R.G. Newhauser, The Early History of Greed: the Sin of Avarice in Early Medieval Thought and Literature (Cambridge: Cambridge University Press, 2001). 18R.G. Newhauser (ed.), The Seven Deadly Sins: from Communities to Individuals (Boston, MA: Brill CF, 2007). R.G. Newhauser, 'The Seven Deadly Sins as Cultural Constructions in the Middle Ages', 2004. NEH Summer Seminar 2004 outline, http://www.trinity.edu/rnewhaus/outline.html (accessed 3 October 2010). 19Newhauser 2000, p. XIV. 20Newhauser, 'The Seven Deadly Sins', 2004, op. cit. 21Robertson, op. cit. 22Robertson, op. cit., p. 19. 23Robertson, op. cit., p. 35. 24Simmel, The Philosophy of Money, op. cit. 25Simmel, The Philosophy of Money, op. cit., p. 52, cf. G. 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Ökonomisches Selbstinteresse zwischen Maßlosigkeit und Bescheidenheit' in U. Mummert and F.L. Sell (eds), Emotionen, Markt und Moral (Münster: LIT-Verlag, 2010), pp. 289–313; again in Freiburger Diskussionspapiere zur Ordnungsökonomik, 5 October 2010 http://www.econstor.eu/bitstream/10419/4357/1/05_10bw.pdf (3 October 2010), p. 10. 42K. Marx, Das Kapital, Buch 1 (Berlin: Dietz, 1867/1947), p. 160; trans. by the author. 43Goldschmidt, op. cit. 44M. Weber, The Protestant Ethic and the Spirit of Capitalism, trans. T. Parsons in 1930 from the 1920 German edition (New York: Scribner's, 1904–1905/1958), p. 355; quoted in D. McCloskey, Bourgeois Deeds: How Capitalism Made Modernity 1700–1848 [The Bourgeois Era, Vol. 2], draft of 4 March 2011 http://pixdoc.com/preview/aHR0cDovL3d3dy5kZWlyZHJlbWNjbG9za2V5LmNvbS9kb2NzL2RlZWRzLmRvYw (accessed 6 December 2011), p. 26. 45Simmel, The Philosophy of Money, op. cit., p. 237. 46R. 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Friedman, 'The Social Responsibility of Business is to Increase its Profits', The New York Times Magazine, 13 September 1970. 55Wight, 'Adam Smith and Greed', op. cit., p. 1. 51M. Lerner, Introduction to The Wealth of Nations, ed. Edwin Canaan (New York: Modern Library Edition, 1937), p. IX. 52A. Smith, An Inquiry Into the Nature and Causes of the Wealth of Nations, two volumes, ed. R.H. Campbell and A.S. Skinner (Indianapolis, IN: Liberty Press, 1776/1981). 53See for instance the following: V. Brown, 'Mere Inventions of the Imagination: A Survey of Recent Literature on Adam Smith', Economics and Philosophy, 13:2 (October 1997), pp. 281–312. J. Evensky, 'Adam Smith's Lost Legacy', Southern Economic Journal, 67:3 (2001), pp. 497–517. S. Fleischacker, On Adam Smith's Wealth of Nations: a Philosophical Companion (Princeton, NJ: Princeton University Press, 2004). Goldschmidt, op. cit., p. 294. D.C. Korten, The Betrayal of Adam Smith. 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Sen, op. cit.; Robertson, op. cit.; Rowland, op. cit. 57Wang and Murnighan, op. cit., p. 8. 58O. Fenichel, 'The Drive to Amass Wealth', The Psychoanalytic Quarterly, 7 (1938), pp. 69–95, at p. 78. 59O. Fenichel, 'The Drive to Amass Wealth', The Psychoanalytic Quarterly, 7 (1938), pp. 69–95, at p. 78. 60B. Sievers, 'Towards a Socioanalysis of the Current Financial Crisis' in S. Long and B. Sievers (eds), Towards a Socioanalysis of Money, Finance and Capitalism. Beneath the Surface of the Financial Industry (London: Routledge, 2012), pp. 91–104. 61L. Lütkehaus, Nichts. Abschied vom Sein. Ende der Angst (Zürich: Gerd Haffmanns bei Zweitausendeins, 2004), pp. 23, 27. 62R.J. Shiller, Irrational Exuberance (Princeton, NJ: Princeton University Press, 2000), p. 24. 63See for example K. Fiore, 'APsaA: Financial Meltdown More than a Case of Greed', MedPage Today, 18 January 2010, http://www.medpagetoday.com/MeetingCoverage/APsaA/18006 (accessed 11 February 2010). L. 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Bion, 'A Theory of Thinking', International Journal of Psycho-Analysis, 43 pp. republished in Bion, on Psycho-Analysis (London: pp. at p. quoted in Bion, and (London: p. cf. Lawrence, 'Narcissism v. Social-ism', op. cit. Klein, 'The of in The of Melanie Klein The of trans. (London: Press and the of Psycho-Analysis, pp. Hinshelwood, n.d., (accessed 18 October 2010); Hinshelwood, A Dictionary of Kleinian Thought, op. cit., pp. and P. A Contribution to the of in B. Sievers (ed.), Psychoanalytic of Contributions from the International for the Psychoanalytic of (London: Karnac, 2009), pp. at p. and P. A Contribution to the of in B. Sievers (ed.), Psychoanalytic of Contributions from the International for the Psychoanalytic of (London: Karnac, 2009), pp. at p. and Some Social and Cultural Elements of in Paper presented at the 2011 June Bion, from to (London: 'The of the or the University to the in T. (ed.), and the a Critical (Cambridge: Cambridge University Press, 2001), pp.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.001 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".