tag:theconversation.com,2011:/institutions/university-of-suffolk-3830/articlesThe University of Suffolk2023-09-18T14:54:11Ztag:theconversation.com,2011:article/2137962023-09-18T14:54:11Z2023-09-18T14:54:11ZA Haunting in Venice – the Poirot film franchise finds its footing in this spooky murder mystery<p>Hercule Poirot, the world’s greatest and most particular detective, returns in Kenneth Branagh’s third outing as director and star. <em>A Haunting in Venice</em> is set in 1947, ten years after Poirot solved the case in <em>Death on the Nile</em> (2022). </p>
<p>It is, apparently, inspired by Agatha Christie’s 1969 novel <a href="https://www.agathachristie.com/en/stories/halloween-party">Hallowe’en Party</a>. Here, however, the English countryside is replaced with the labyrinthine waterways of Venice and the story, while maintaining some similarities, is wildly different. </p>
<p>Poirot (Branagh) has retired for a quiet life, where the only guests he will see are delivering pastries. Of course, he won’t stay retired for long. His old friend the mystery writer Ariadne Oliver (Tina Fey) asks Poirot to debunk a psychic medium, Joyce Reynolds (Michelle Yeoh), whose powers seem too good to be true.</p>
<p>Reynolds leads Poirot to a Halloween party in a decaying and haunted palazzo, which provides the perfect backdrop for a spooky, jump-filled series of incidents. The party is just the starter, and the real event is a seance that is attended by a cast of intriguing characters. </p>
<p>The faded palazzo belongs to the glamorous opera singer Rowena Drake who recently lost her daughter, Alicia, whom she is hoping to contact. It is believed that after mental illness, possibly due to a curse connected to the palazzo’s history, Alicia took her own life, throwing herself from her window into the canal below. This theory is quickly dashed during the seance.</p>
<p>In true Agatha Christie fashion, what begins as a case of unmasking a phoney quickly turns into a hunt for a murderer as the exits are locked and all in attendance come under suspicion.</p>
<p>Let me put my cards on the table: I’m a massive Agatha Christie fan, and so are many of my friends. Knowing that this was more “inspired by” than “based on” the book, we made our own predictions about what a tragedy this film would be.</p>
<p>I left the cinema, however, pleasantly surprised.</p>
<p>It is not a straightforward book-to-screen adaptation as the past two have been. As a film, though, and an instalment in Branagh’s Poirotverse, <em>A Haunting in Venice</em> is strong. It’s beautiful, easy to follow and has a killer cast (pun intended).</p>
<h2>A justified murder?</h2>
<p>After three films, it seems Branagh is getting used to his character, bringing a level of depth and intrigue that previous adaptations have lacked. His Poirot does unexpected things – from bobbing for apples to breaking down a door – but remains the fussy, conceited character we have come to love. </p>
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<p>Yeoh is also formidable, squeezing every possible nuance from her too-small role.</p>
<p>They are joined by a stellar cast, including Kelly Reilly as Rowena Drake and Jamie Dornan and the young Jude Hill as a retired doctor struggling with PTSD and his precocious son. </p>
<p>None of these are the characters as Christie wrote them. Fans of the books may particularly regret how Ariadne Oliver is presented. In the books, she is essentially Christie’s self-portrait. Here, she is American, and less nice. But Fey who is, frankly, playing Tina Fey – a fast-talking, popular and very canny writer – plays this version of Oliver superbly. </p>
<p>Screenwriter Michael Green, who also adapted <em>Murder on the Orient Express</em> and <em>Death on the Nile</em>, has described his own work here as “<a href="https://harpercollins.co.uk/products/a-haunting-in-venice-halloween-party-poirot-agatha-christie">a murder</a>” of Agatha Christie’s <em>Hallowe’en Party</em>. But, he insists, it was “a justifiable homicide”.</p>
<h2>The same soul</h2>
<p>The puzzle and the names of characters have stayed the same, but everything else is a pick-and-mix of ideas and references from elsewhere in, and beyond, the Christie canon. There are nods to other Christie works, including her supernatural short story <a href="https://www.agathachristie.com/en/stories/the-last-s%C3%A9ance-collection">The Last Séance</a> (1926) and a late Miss Marple novel, <a href="https://www.agathachristie.com/en/stories/nemesis">Nemesis</a> (1971), which has almost certainly influenced the solution. </p>
<p>You could say that the film does stay true to the soul of Christie’s novel, although it is a completely different story. </p>
<p>Christie’s murder mystery, set in the English countryside over several days, focuses on the haunting power of obsession and deals with some of the worst crimes imaginable – the murder and psychological abuse of children. Branagh’s film is pitched as a ghost story and takes place over a single night in a very atmospheric palazzo with a chequered past. In Venice, the haunting is more literal, but the story is the same – it warns of the destructive nature of obsession and touches on the abuse of children.</p>
<p>While A Haunting in Venice is not an Agatha Christie story, it is one that could not exist without her vast and varied body of work. </p>
<p>As well as being the supreme mystery writer, Christie had a keen interest in the unexplained, writing several ghost stories throughout her life. But she never blurred the lines between science and the supernatural in the context of detective fiction. She kept those two interests separate. This film does not. As a result, it struggles sometimes to strike a balance. Is this a ghost story or a detective story? Even at the end, we are never quite sure.</p>
<p>Does this affect our enjoyment? It depends on what you want out of it. If you are looking for an out-and-out scary movie, this one may not be for you. If you are looking for a straightforward whodunit, perhaps look elsewhere. But if you want something in between, it’s right on the money.</p>
<p>But, with the freedom to take on a lesser-known case, Branagh’s Poirot seems finally to have found his footing. While this is also far from a perfect outing, it is a beautifully shot tale of terror that will keep you engaged to the last minute.</p>
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<p class="fine-print"><em><span>Jamie Bernthal-Hooker does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.</span></em></p>The most recent instalment in Kenneth Branagh’s Poirot franchise is not faithful to Agatha Christie’s work, but it is entertaining all the same.Jamie Bernthal-Hooker, Visiting Senior Fellow in English and Creative Writing, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/2107252023-08-23T09:55:24Z2023-08-23T09:55:24ZIs Hercule Poirot autistic? Here are seven clues that he might be<p>Hercule Poirot, the Belgian detective with the flamboyant moustache and keen eye for detail, is one of the most beloved characters in crime fiction. He was created by British writer Agatha Christie and first arrived on our bookshelves in 1920. He has since appeared in 33 novels, 51 short stories and two plays.</p>
<p>He has also been depicted in film and television by an array of actors, with Kenneth Branagh’s latest iteration, <a href="https://www.imdb.com/title/tt22687790/?ref_=nm_flmg_unrel_1_act">A Haunting in Venice</a>, opening on the big screen in September 2023. </p>
<p>Poirot’s characteristics have led us to speculate that he may be autistic, even though Christie never explicitly said so.</p>
<h2>Headcanon and autistic representation</h2>
<p>When audiences “<a href="https://www.merriam-webster.com/wordplay/words-were-watching-headcanon-fanon#:%7E:text=Headcanon%20is%20a%20word%20used,on%20screen%2Fon%20the%20page.">headcanon</a>” a character, this means they have interpreted them in a way which is not openly stated in the film, TV or other media in which they feature. As media portrayals of autistic people are rare and often unrealistic, the autistic and wider neurodivergent communities sometimes <a href="https://eprints.kingston.ac.uk/id/eprint/51580/">headcanon</a> characters who <a href="https://vocal.media/geeks/autism-is-having-a-moment-on-tv-but-not-everyone-in-the-autistic-community-is-celebrating">aren’t explicitly confirmed</a> as neurodivergent (ND).</p>
<p>However, creating a headcanon can cause controversy. They are subjective and some people believe the process of identifying a character as ND-coded is an over-simplification of the complexities of autism and other neurotypes. But celebrating difference can be positive for those who feel underrepresented in the media.</p>
<h2>The detective</h2>
<p>Detectives are often ND-coded in <a href="https://orca.cardiff.ac.uk/id/eprint/3716/">crime fiction stories</a>. Their actions and diverse thought patterns are typically not understood by those around them. So, their personalities are labelled as “different”, or their mannerisms are classed as odd or <a href="https://doi.org/10.16995/olh.461">eccentric</a>.</p>
<p>Some are explicitly ND, such as Adrian Monk in the US series <a href="https://mandfilms.com/projects/monk/">Monk</a> and Saga Norén in the nordic noir series <a href="https://www.imdb.com/title/tt1733785/">The Bridge</a>. Others have been headcanoned as ND – most frequently, Sherlock Holmes in his <a href="https://doi.org/10.1027/1015-5759/a000506">various iterations</a>.</p>
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<figcaption><span class="caption">Many argue that David Suchet is the quintessential screen Poirot.</span></figcaption>
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<p>Here are seven reasons why Hercule Poirot is also ND-coded:</p>
<h2>1. Social exclusion</h2>
<p>Poirot is regularly seen as “different” by those around him. Often, this is attributed to him being Belgian, with other characters drawing attention to his <a href="https://www.theguardian.com/childrens-books-site/2016/feb/16/hercule-poirot-an-odd-sort-of-hero">“odd” behaviours</a>. He is also described as “positively exotic” in <a href="https://www.agathachristie.com/en/stories/dumb-witness">1937’s Dumb Witness</a>, and is regularly referred to as being French, something which angers Poirot.</p>
<h2>2. Scripting</h2>
<p>Poirot <a href="https://www.agathachristie.com/en/stories/the-abc-murders">scripts conversations</a> prior to having them, planning out what he will say and how he will act towards people, much like <a href="https://www.stephaniebethany.com/blog/autistic-scripting-and-why-its-valuable">autistic people</a> often do. </p>
<h2>3. Masking</h2>
<p>He also masks, which is a phenomenon frequently reported by <a href="https://www.liebertpub.com/doi/abs/10.1089/aut.2020.0083">autistic people</a>, in which they hide or reduce elements of themselves to fit in. Poirot does this by putting on his “<a href="https://www.agathachristie.com/en/stories/halloween-party">foreign shield of exaggerated mannerisms</a>” – sometimes taking advantage of his uniqueness, knowing how others will see him and behaving accordingly.</p>
<h2>4. Psychology</h2>
<p>Poirot is interested in psychology, a common special interest for autistic <a href="https://meridian.allenpress.com/idd/article-abstract/50/5/391/7879/Understanding-Differences-in-Neurotypical-and?redirectedFrom=fulltext">people</a>, who often wish to have an in-depth understanding of people. </p>
<p>He states that his brain and mind work differently to those around him, and arguably values his enduring companion Hastings for his “neurotypical” <a href="https://www.agathachristie.com/en/stories/lord-edgware-dies">insights</a>, telling him: “In you, Hastings, I find the normal mind almost perfectly illustrated.”</p>
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<img alt="A book with the words 'Agatha Christie - The Murder of Roger Ackroyd' sits on a wooden surface." src="https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=900&fit=crop&dpr=1 600w, https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=900&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=900&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=1131&fit=crop&dpr=1 754w, https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=1131&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/543256/original/file-20230817-17-ydwmn2.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=1131&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
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<span class="caption">The Murder of Roger Ackroyd (1926) was the third novel to feature Poirot as the lead detective.</span>
<span class="attribution"><a class="source" href="https://www.shutterstock.com/image-photo/madrid-spain-march-5-2018-murder-1047299224">Plateresca/Shutterstock</a></span>
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<h2>5. Interaction</h2>
<p>Poirot also displays a unique interaction style which other characters often do not understand, or label peculiar. This mirrors the differences in communication preferences, and misunderstandings this can lead to, between neurotypical and ND <a href="https://doi.org/10.1080/09687599.2012.710008">people</a>.</p>
<p>Poirot is less governed by <a href="https://link.springer.com/article/10.1007/s10803-018-3809-1">social norms</a> and customs, considering each character as an individual, regardless of their age, sex, gender or socioeconomic status. Christie often played on the readers’ prejudice, with the detective obliged to see <a href="https://link.springer.com/book/10.1007/978-3-319-33533-9">beyond this</a>.</p>
<p>For example, in <a href="https://www.agathachristie.com/en/stories/peril-at-end-house">Peril at End House (1932)</a>, Hastings believes that an affable sea commander must be above suspicion, but Poirot responds: “Doubtless he has been to what you consider the right school. Happily, being a foreigner, I am free from these prejudices, and can make investigations unhampered by them.”</p>
<h2>6. Routine</h2>
<p>Poirot is very particular in the way he solves crimes, through order and method. He enjoys keeping a routine, typically revolving around his <a href="https://www.agathachristie.com/en/stories/mrs-mcgintys-dead">meals</a>, which he is also very particular about: “For my breakfast, I have only toast which is cut into neat <a href="https://www.agathachristie.com/en/hercule-poirots-autobiography#:%7E:text=Anything%20in%20the%20least%20crooked,it%20straight%20for%20you%20">little squares</a>.” </p>
<p>Autistic people often find comfort in <a href="https://neurodivergentrebel.com/2023/04/10/autistic-insistence-on-sameness-or-comfort-in-familiarity/">familiarity</a> and in eating <a href="http://www.autscape.org/2023/programme/handouts/autscape-2023-same-food-as-self-care.pdf">the same or safe foods</a>.</p>
<h2>7. Sensory regulation</h2>
<p>Poirot wears tight, patent leather shoes, as described in <a href="https://www.agathachristie.com/en/stories/halloween-party">Hallowe’en Party (1969)</a>: “He was unsuitably attired as to the feet in patent leather shoes which were, so Mr Fullerton guessed shrewdly, too tight for him.”</p>
<p>This habit is arguably for <a href="https://www.theguardian.com/childrens-books-site/2016/feb/16/hercule-poirot-an-odd-sort-of-hero">sensory reasons</a>, which is <a href="https://doi.org/10.1177/13623613221081188">very important</a> for autistic people and their wellbeing.</p>
<p>Poirot requires a particular sensory environment to think properly, and values his alone time to process what he has learnt. He also likes to keep his immediate surroundings, including his friend Hastings, <a href="https://www.agathachristie.com/en/stories/murder-on-the-links">neat and orderly</a>.</p>
<p>Although Poirot’s neurotype is never explicitly detailed in Christie’s works, fellow ND readers who understand and recognise these codes may headcanon Poirot as part of their community.</p><img src="https://counter.theconversation.com/content/210725/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.</span></em></p>Agatha Christie never explicitly said so, but many of her Belgian detective’s character traits could be interpreted as being autistic.Rebecca Ellis, Assistant researcher in Public Health, Swansea UniversityJamie Bernthal-Hooker, Visiting Senior Fellow in English and Creative Writing, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/2091852023-08-02T12:40:04Z2023-08-02T12:40:04ZShared horse and human burials show how deeply the vikings cared for their animal companions<p>Is your pet part of the family? That’s nothing new. Archeological evidence exists to suggest that the vikings held their own animals in high – even intimate – regard, taking them with them on voyages. Earlier this year, <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0280589">scientific evidence found</a> for the first time that – as early as the ninth century – vikings brought horses, dogs and other animals <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0280589">with them</a> across the North Sea.</p>
<p>The prevailing assumption had been that enterprising viking armies had simply acquired horses (along with other items of plunder) in their <a href="https://theconversation.com/hideouts-harbours-and-homes-how-vikings-may-have-owed-their-success-to-their-encampments-148550">raids on the British Isles</a>. But these findings suggest that the depth of the relationships viking-age people had with animals have been dramatically underrepresented.</p>
<p>But why? After all, the vast majority of people – Scandinavian or otherwise – living through the viking age relied on farming to survive. Why has it taken so long for researchers to realise that these humans and animals sustained deep, complex, emotional and mutually enriching relationships? </p>
<p>Past societies cared about humans, animals and things <a href="https://www.cambridge.org/core/journals/cambridge-archaeological-journal/article/reflections-on-posthuman-ethics-grievability-and-the-morethanhuman-worlds-of-iron-and-viking-age-scandinavia/1B266324E6F36C562787BB2BA4D68F89">differently</a>. Some humans could be owned, even viewed as objects and valued far less than some animals. In <a href="https://www.brepols.net/products/978-2-503-60090-1">our research</a>, we use both archaeology and texts <a href="https://www.oxbowbooks.com/oxbow/the-norse-sorceress.html">to show that</a> some horses in communities such as those of viking-age Scandinavia and Iceland could be seen as “people” themselves, capable of agency and worthy of careful and deliberate treatment.</p>
<h2>Horses in human graves</h2>
<p>Horses in the viking age were seen as <a href="https://www.jstor.org/stable/pdf/20650833.pdf">liminal creatures</a>, meaning they were capable of crossing physical and conceptual boundaries, travelling over different terrains, and even between worlds. They also held cosmological significance.</p>
<p>Norse poetry depicts <a href="https://www.britannica.com/topic/Odin-Norse-deity">the god Odin</a> riding to the land of the dead on his eight-legged horse <a href="https://www.britannica.com/topic/Sleipnir">Sleipnir</a>. A newly-discovered bracteate – or pendant – bearing a runic inscription from Denmark might also suggest an association between Odin (or at least someone who identifies himself as “Odin’s man”) and a horse companion as far back as the early fifth century AD.</p>
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Read more:
<a href="https://theconversation.com/is-norse-god-odin-older-than-previously-thought-an-expert-analyses-new-evidence-202075">Is Norse god Odin older than previously thought? An expert analyses new evidence</a>
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<p>Historically, horse bodies in viking-age burials have been interpreted as <a href="https://www.duo.uio.no/bitstream/handle/10852/26678/7064.pdf?sequence=1#:%7E:text=One%20of%20the%20most%20popular,home%20of%20the%20god%20Odin.">symbolic of the journey to the afterlife</a>, part of the possessions of the deceased in the afterlife, or as status symbols. But these interpretations miss something vital – the bond between horse and rider.</p>
<p>Horses have special relationships with their riders, as both have to learn to <a href="https://press.nordicopenaccess.no/index.php/noasp/catalog/view/51/234/2166">work with each other</a>. In Norse poetry (some of which links to the viking age) horses were a vital part of warrior identities. Legendary poems about the heroes <a href="https://pantheon.org/articles/h/hundingsbane.html">Helgi</a> and <a href="https://www.britannica.com/topic/Siegfried#:%7E:text=Siegfried%2C%20Old%20Norse%20Sigurd%2C%20figure,tradition%20do%20not%20always%20agree.">Sigurd</a> depict heroes who are almost <a href="https://harrietjean.files.wordpress.com/2017/02/my-ma.pdf">inseparable from their horse companions</a>. <a href="https://pantheon.org/articles/g/grani.html">Grani</a>, the horse of Sigurd the dragon-slayer for example, is <a href="https://brill.com/display/book/edcoll/9789004514935/BP000008.xml?language=en">depicted mourning Sigurd</a> after his death.</p>
<p>Evidence of partnerships between humans and horses has been found in burials from across northern Europe, from the grand ship burials of <a href="https://www.historyhit.com/locations/the-viking-museum-at-ladby/">Ladby</a> and <a href="https://www.researchgate.net/profile/Jan-Bill/publication/281118137_Revisiting_Gokstad_Interdisciplinary_investigations_of_a_find_complex_excavated_in_the_19th_century/links/55d733a908ae9d65948d841a/Revisiting-Gokstad-Interdisciplinary-investigations-of-a-find-complex-excavated-in-the-19th-century.pdf">Gokstad</a>, to the <a href="https://books.google.com/books?hl=en&lr=&id=WRypEAAAQBAJ&oi=fnd&pg=PT12&dq=equestrian+burial&ots=1uBN5CSY2S&sig=c2IB5ahkQLW2Map_6MMgTR2p0Ac">equestrian burials</a> of tenth-century Denmark, to the more modest <a href="https://opinvisindi.is/handle/20.500.11815/1004">human-horse burials in viking-age Iceland</a>. But horses weren’t just buried with men.</p>
<p>At <a href="https://www.jna.uni-kiel.de/index.php/offa/article/download/729/785/2813">Trekroner-Grydehøj</a> in Sjælland, Denmark, a woman was buried with a horse next to her, one leg partially overlapping with the human body (above). Something about this human and this horse meant such an intimate arrangement was appropriate. </p>
<p>The woman is thought to have been a ritual specialist, possibly a sorceress, buried with an iron-tipped copper rod and a range of other objects including some knives, a bucket and a small wooden box. A large flat stone, a dog which had been cut in half and some sheep bones, as well as some iron pins (possibly for fastening baggage to a saddle) and a dog chain completed the burial.</p>
<p>At <a href="https://journals.uio.no/viking/article/view/9047/7787">Løve in Vestfold, Norway</a>, a tenth-century burial also has a <a href="https://journals.uio.no/viking/article/view/9047/7787">horse laid next to a woman</a>. Like the woman at Trekroner-Grydehøj, they are thought to have been a ritual specialist. But the woman wasn’t the only one buried with the tools of her trade. An iron rangle (a metal ring with smaller rings attached to it) was laid on the chest of the horse buried alongside her. When attached to wagon harnesses or bridles, the metal rings would jingle. It is thought that it may have played a role in <a href="https://sagy.vikingove.cz/en/the-viking-rangle/">viking-age rituals</a>.</p>
<p>Were these women buried with these horses because they had special relationships? Or because they were sorceresses? Or did being a sorceress entail close relationships with these animals? We believe that, among other rituals, horses appear to have been vital participants in the processes and practices of funerals.</p>
<h2>Good to die with, good to live with</h2>
<p>Research shows that relationships with horses have a host of benefits, <a href="https://theconversation.com/pet-therapy-how-dogs-cats-and-horses-help-improve-human-wellbeing-180378">especially for young people</a>. It’s interesting then, that there is a <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">repeated insistence</a> <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">in Norse poetry</a> and <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">medieval sagas</a> that young men should <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">practise horse grooming and training</a>. Horses are considered <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">partners in farming</a> and <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">often</a> even <a href="https://www.cambridge.org/core/books/abs/animalhuman-relationships-in-medieval-iceland/fostering-relations-the-animalhuman-home-in-the-islendingasogur/EE042530D875403AFBD821DD56112EB9">members of families</a> in these texts.</p>
<p>The 13th-century saga <a href="https://shorturl.at/kp046">Bjarnar Saga Hítdœlakappa</a> even depicts a woman who appears to benefit from a medieval form of <a href="https://www.taylorfrancis.com/chapters/oa-edit/10.4324/9781003180180-7/health-healing-social-body-medieval-iceland-christopher-crocker-yoav-tirosh">equine-assisted therapy</a>, finding relief from her ailment by sitting on her horse as it is led around a field:</p>
<blockquote>
<p>The most relief was offered to her by sitting on horseback, as Þórðr led her horse back and forth, and he did so, even though it was a great pain to him, as he wanted to try to comfort her.</p>
</blockquote>
<figure>
<iframe width="440" height="260" src="https://www.youtube.com/embed/8cAoDVQejrM?wmode=transparent&start=0" frameborder="0" allowfullscreen=""></iframe>
<figcaption><span class="caption">Our YouTube interview on the topic with professor Howard Williams of the Archaeodeath channel.</span></figcaption>
</figure>
<p>In a time of ecological upheaval, looking to the past to understand the relationships humans have had with animals can inspire different approaches to the present and the future. Given a <a href="https://www.independent.co.uk/news/ap-new-zealand-bangladesh-albert-forestry-b2145074.html">recent victory by Māori activists</a> granting legal personhood and rights to a river, looking for historical analogies, such as the vikings and their horses, can encourage us all to continue to push for more responsible relationships with the non-human world.</p>
<hr>
<figure class="align-left ">
<img alt="" src="https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=600&fit=crop&dpr=1 600w, https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=600&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=600&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=754&fit=crop&dpr=1 754w, https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=754&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/536131/original/file-20230706-17-460x2d.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=754&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
<figcaption>
<span class="caption"></span>
</figcaption>
</figure>
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<p class="fine-print"><em><span>Keith Ruiter receives funding from the Social Sciences and Humanities Research Council of Canada (grant 756- 2021-0499) and Berit Wallenbergs Stiftelse (grant BWS 2022.0040). </span></em></p><p class="fine-print"><em><span>Harriet Evans Tang receives funding from the Leverhulme Trust (grant RPG-2019-258) as part of the Cohabiting with Vikings Project. </span></em></p>The findings suggest that the depth of the relationships Viking-age people had with animals have been dramatically underrepresented.Keith Ruiter, Senior Lecturer in History, University of SuffolkHarriet Evans Tang, Post Doctoral Research Associate, Durham UniversityLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/1521462021-03-16T10:41:13Z2021-03-16T10:41:13ZStormy seas ahead: confidence in the cruise industry has plummeted due to COVID-19<p>The cruise industry has weathered many storms, including fairly regular brushes with disease. Outbreaks of <a href="https://www.cdc.gov/nceh/vsp/pub/norovirus/norovirus.htm">norovirus</a>, <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3294517/">H1N1</a> and <a href="https://www.nytimes.com/2019/05/02/world/americas/measles-scientology-cruise-ship.html">measles</a> have all happened in the not too distant past. Despite this, a cruise has traditionally been regarded as a safe holiday – the kind where you don’t have to worry about a thing.</p>
<p>COVID-19 has changed this. Cruise ships were a hotbed of transmission during the early stages of the pandemic, particularly the Diamond Princess, which was quarantined for six weeks in Japan in spring 2020. It had over <a href="https://www.bmj.com/content/369/bmj.m1632">700 confirmed cases</a>, and for a period was the world’s <a href="https://www.theguardian.com/world/live/2020/feb/20/coronavirus-live-updates-diamond-princess-cruise-ship-japan-deaths-latest-news-china-infections?page=with:block-5e4ea39f8f0811db2fafb3ec#block-5e4ea39f8f0811db2fafb3ec">leading COVID-19 hotspot</a> after China. Coverage of this and other ships’ outbreaks has taken its toll. </p>
<p><a href="https://www.sciencedirect.com/science/article/pii/S259019822100035X">Research</a> that I conducted with colleagues in Australia shows that the pandemic has changed how people think of cruise holidays. We surveyed over 600 people in the UK and Australia, both cruisers and non-cruisers, to ask them about their willingness to cruise and future travel intentions, to explore how COVID-19 has affected perceptions of travel and cruise risks. </p>
<p>Nearly 45% of interviewees had less belief than before the pandemic that cruise lines are transparent and honest about safety or health issues. Respondents were also fearful of going on a cruise, with 47% saying they don’t trust cruise lines to look after them if something goes wrong. This is staggering for an industry that depends on repeat customers.</p>
<p>We further found that 67% of people are less willing to cruise as a result of the pandemic, while 69% said they feel less positive about cruising now. What’s most surprising is that even repeat cruisers said they feel nervous about cruising as a result of the pandemic, with this emotion coming up repeatedly in the survey’s open-ended questions. This is a gamechanger. Until now, loyal cruisers have always come back, with previous disease outbreaks having <a href="https://www.sciencedirect.com/science/article/abs/pii/S0261517716300309">little</a> <a href="http://ijbssnet.com/journals/Vol_4_No_7_July_2013/2.pdf">impact</a>. </p>
<h2>What went wrong?</h2>
<p>When the pandemic began, cruise ships immediately suffered high infection rates among passengers and crew. During the first wave, thousands were <a href="https://www.theguardian.com/world/2020/mar/27/stranded-at-sea-cruise-ships-around-the-world-are-adrift-as-ports-turn-them-away">stranded onboard</a> ships as they were held in quarantine or <a href="https://www.sciencedirect.com/science/article/abs/pii/S0160738320302103?via%3Dihub">refused entry to ports</a> as borders closed. By the end of April 2020, <a href="https://www.miamiherald.com/news/business/tourism-cruises/article241640166.html">over 50 cruise ships</a> had confirmed cases of COVID-19 and at least 65 deaths had occurred among passengers and crew. </p>
<p>The story of one ship – the Ruby Princess – gained particular attention. Its passengers were allowed to disembark in Sydney in mid-March, with a number carrying the virus. The ship would go on to be linked to more than <a href="https://www.bbc.co.uk/news/world-australia-53802816">900 COVID-19 cases and 28 deaths</a>. The state of New South Wales later launched a <a href="https://www.dpc.nsw.gov.au/assets/dpc-nsw-gov-au/publications/The-Special-Commission-of-Inquiry-into-the-Ruby-Princess-Listing-1628/Report-of-the-Special-Commission-of-Inquiry-into-the-Ruby-Princess.pdf">public inquiry</a> into the ship’s outbreak and found that the state’s ministry of health made a number of serious errors in allowing passengers to get off.</p>
<p>It didn’t take long for cruises to be depicted as <a href="https://www.bloomberg.com/news/articles/2020-03-24/virus-explosion-in-australia-exposes-cruise-ships-hidden-menace">places of danger and infection</a>, particularly in Australia. Lots of information about COVID-19 on cruise ships was published, especially about the <a href="https://cruiseradio.net/the-cruise-ship-story-mainstream-media-got-wrong/">Ruby Princess</a>, grabbing the <a href="https://trends.google.com/trends/explore?date=today%205-y&q=Ruby%20Princess">public’s attention</a>. Undoubtedly, this amplified people’s perceptions of risk around cruise holidays. Our study found that the many stories on COVID-19 also reminded the public of previous illnesses and outbreaks onboard cruise ships.</p>
<p>Given the high intensity of media interest in Australia, we weren’t surprised to find that perceived risks were higher there compared with the UK, with willingness to cruise lower. This suggests that there could be regional differences in how difficult it is for the industry to recover after the pandemic.</p>
<h2>What happens next?</h2>
<p>Most respondents in the study said they would wait until it was safe to cruise again – and there’s probably a long way to go on changing the current perception of cruise ships as giant incubators of disease. It’s doubtful pent-up demand from loyal cruisers will be enough to fill cruise ships to capacity – which is critical for <a href="https://link.springer.com/article/10.1057%2Fs41278-020-00158-3">long-term economic viability</a> – and so <a href="https://theconversation.com/can-the-cruise-industry-really-recover-from-coronavirus-144704">financial uncertainty</a> grows.</p>
<p>The pandemic has been <a href="https://cruising.org/-/media/Facts-and-Resources/Cruise-Industry-COVID-19-FAQs_August-13-2020">catastrophic</a> for the industry so far, with financial losses of US$50 billion (£36 billion), 1.17 million job losses, 18 cruise ships sold or scrapped and at least <a href="https://www.maritime-executive.com/article/cmv-becomes-the-third-cruise-line-to-go-out-of-business-in-a-month">three cruise lines stopping trading</a>. Before the pandemic, a new cruise ship was built <a href="https://www.seatrade-cruise.com/news-headlines/golden-age-med-ports-need-prepare-new-generation-large-ships">every 47 days</a>, and off the back of the industry’s robust growth over the past two decades another <a href="https://cruising.org/en-gb/news-and-research/research/2020/december/state-of-the-cruise-industry-outlook-2021">19 ships</a> are due to enter operation in 2021, despite demand very likely to have fallen.</p>
<p>To recover, the industry will need to address people’s perceptions of risk, which our research shows have heightened. Risk perception has a <a href="https://journals.sagepub.com/doi/10.1177/004728759803700209">significant influence</a> on holiday decision-making, and it will be even more critical post-COVID.</p>
<p>In the wake of the pandemic, would-be cruisers will need to think about health protocols, outbreak prevention plans, onboard sanitation procedures, social distancing measures and health screenings. Also, they’ll need to consider the implications of potential outbreaks during the cruise. These could result in being quarantined in their cabin, needing to access healthcare, or even the cruise being terminated. </p>
<p>All of this creates uncertainty, which adds to perceptions of risk. The industry will need to provide reassuring answers on all of these points to entice holidaymakers back onboard. Cruise companies will also need to convince customers that they are trustworthy and accountable, given the concerns about honesty and transparency raised by our research.</p>
<p>Overall, the sector has been devastated by the pandemic. Possibly no other area of tourism has been as widely affected. A return to the robust growth enjoyed previously is unlikely for many years, if ever. But for there to be any chance of this happening, the industry must understand how the pandemic has affected people’s perceptions of cruises and address their concerns.</p><img src="https://counter.theconversation.com/content/152146/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Jennifer Holland does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The main piece of research discussed in this piece, 'Cruising through a pandemic: the impact of COVID-19 on intentions to cruise', was funded by the University of Western Australia.</span></em></p>With even seasoned cruisers now perceiving the holidays to be risky, the industry faces a huge challenge to win back trust.Jennifer Holland, Lecturer in Tourism, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/1090302019-01-07T14:47:07Z2019-01-07T14:47:07ZHospital gowns leave patients feeling open and vulnerable – their time is up<figure><img src="https://images.theconversation.com/files/252376/original/file-20190103-32154-txn2eb.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">Power games.</span> <span class="attribution"><a class="source" href="https://www.shutterstock.com/image-photo/closeup-midsection-stethoscope-doctor-patient-background-145176592?src=98YDp7dNO2KQZQbVpHYLAA-1-21">sirtravelalot/Shutterstock</a></span></figcaption></figure><p>Most of us feel vulnerable when hospitalised, and being told to strip off and put on a pre-worn, revealing, backless gown does nothing to improve matters. Being escorted in this attire, often through public areas of a hospital, pretty much completes the humiliation. </p>
<p>What you wear affects how you feel about yourself. <a href="https://doi.org/10.1108/JFMM-09-2016-0077">Studies</a> suggest that clothing affects self-esteem, and getting dressed is a process of self-expression. What you wear informs others of your social standing, your ambitions, emotions, motivations and even your employment status. </p>
<p>So what role does clothing play when you find yourself in a vulnerable situation, such as in a hospital, awaiting medical treatment? If you are what you wear, what impact does wearing a backless hospital gown have on how you perceive yourself and how others perceive you?</p>
<h2>Do we really need to bare all?</h2>
<p>Arguably, there are advantages to hospital gowns. They are functional, allow doctors to gain easy access to the patient to conduct a physical examination. They are also cheap and easy to clean. But researchers in Finland have <a href="https://www.sciencedirect.com/science/article/abs/pii/S0277953610001826">argued</a> that wearing a hospital gown is often unnecessary and can even be traumatic for some patients. A recent <a href="https://jamanetwork.com/journals/jamainternalmedicine/fullarticle/1907001">study</a> found that patients are often asked to wear hospital gowns even when there is no medical reason for them to do so.</p>
<p>Although research on this topic is scant, the limited <a href="https://www.sciencedirect.com/science/article/pii/S0020748908002137">findings</a> so far suggest that the hospital gown is undignified and adds to a sense of disempowerment and vulnerability. And this is made worse by the professional, authoritarian, <a href="https://mh.bmj.com/content/40/2/90">white coat</a> worn by doctors, which can further increase the power imbalance.</p>
<p>The <a href="https://doi.org/10.1080/10401334.2017.1415148">healthcare</a> hierarchy often plays out in the power dynamic between the patient and medical staff. Despite efforts to empower patients with so-called patient-centered care, the institutionalised acceptance of the hospital gown persists. </p>
<figure class="align-left ">
<img alt="" src="https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=597&fit=crop&dpr=1 600w, https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=597&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=597&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=751&fit=crop&dpr=1 754w, https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=751&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/252474/original/file-20190104-32121-1spj6ii.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=751&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
<figcaption>
<span class="caption">What you wear affects your self-esteem.</span>
<span class="attribution"><span class="source">Liza Morton</span>, <span class="license">Author provided</span></span>
</figcaption>
</figure>
<p>It is important to challenge these sorts of cultural norms as dehumanising aspects of care can increase a patient’s risk of <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3688067/">further episodes of hospitalisation</a>. Loss of control, loss of the power to make decisions and loss of autonomy may increase a patient’s vulnerability to psychological distress which could have a <a href="https://www.researchgate.net/publication/303382620_Born_with_a_heart_condition_The_Clinical_Implications_of_the_Polyvagal_Theory">negative effect on well-being and recovery</a>. As such, patients need to be given a say in hospital clothing, with more humanising and dignified options explored, for example, limiting the use of hospital gowns to when they are needed for medical reasons, allowing patients to wear their own clothes when possible (especially when they are in public areas) and by redesigning gowns so they are less revealing and more dignified. </p>
<p>To better understand these issues we are engaged in a collaborative research project that aims to explore people’s experience of wearing hospital gowns. By drawing on their experiences, we hope to better understand how hospital gowns affect their identity, well-being and recovery, with the aim of influencing change to policy and practice in hospitals. </p>
<p>Clothes serve more than function. Rather than having to bare all, let a little dignity, choice and humility be at the forefront of our thinking about hospital clothing.</p><img src="https://counter.theconversation.com/content/109030/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Liza Morton is affiliated with The Somerville Foundation, as voluntary Scottish Campaign Manager, a UK charity who work to support and improve care for adults and young people living with a heart condition from birth. </span></em></p><p class="fine-print"><em><span>Emmanouil Georgiadis and Nicola Cogan do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.</span></em></p>Do we really need to wear an embarrassing, backless gown in hospital?Liza Morton, Counselling Psychologist, University of Strathclyde Emmanouil Georgiadis, Senior Lecturer in Sport and Exercise Psychology, University of SuffolkNicola Cogan, Lecturer in Psychology, University of Strathclyde Licensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/508812015-11-20T13:09:16Z2015-11-20T13:09:16ZHBOS report does little to tackle systemic problems<figure><img src="https://images.theconversation.com/files/102618/original/image-20151120-10438-12x3rpn.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">In the spotlight.</span> <span class="attribution"><a class="source" href="https://www.flickr.com/photos/umdrums/2828957108/in/photolist-4VNcZp-78i1Hf-78e7Vx-78i1SN-5pPTPh-78e7Qv-78e7HR-5iUe4H-aHGeEi-5cjP9h-aJLSPx-cgBeiQ-5iYyxu-5iUgNr-5iUQ88-4MEg7D-4MJrFq-9876Vd-7oHqCn-4Ed8uG-5iZ9oy-bowQEc-4MJqZj-8Pb9SW-8P84eg-5LqVQa-pdPrQk-4E4h6N-7GZVkV-at6ehm-p2s6Xt-78i1NQ-rSSYvW-rdDzQx-sas3fc-9kXPV6-91YX3E-8pWtvF-99aKKk-6hHNUA-a4tenP-5NazPG-7PUMfG-6vaAVu-5SUsUQ-8Sm4Hs-a6xpSb-4d6G48-dbEWiR-p6ahH8">Secret Pilgrim/flickr</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/">CC BY-SA</a></span></figcaption></figure><p>Remember the 2007-08 banking crash? In the build up to it, UK bankers made vast profits and their executives collected big bonuses. After the crash, they were bailed out by taxpayers, which led to increased government borrowing. We have all been suffering a never ending programme of austerity ever since.</p>
<p>One of the biggest banks to fall was HBOS, which traded under the brands Halifax and Bank of Scotland. No ordinary bank, it had a market capitalisation of over £40 billion at its peak in 2007 and was the UK’s largest lender. But the financial crisis exposed the bank. It had to be bailed out <a href="http://www.heraldscotland.com/news/13098851.Report_into_HBOS_collapse_puts_bailout_cost_at___30bn/">to the tune of £30 billion</a> and almost <a href="http://www.dailymail.co.uk/news/article-3316375/HBOS-report-Document-explain-bank-collapsed.html">50,000 employees</a> have lost their jobs.</p>
<p>The official investigation into what happened has taken seven years. Two reports, at a cost of £7m, have now been published by the Bank of England. The first is a <a href="http://www.bankofengland.co.uk/pra/Documents/publications/reports/hbos.pdf">407-page report</a> on the demise of HBOS. The second is a <a href="http://www.bankofengland.co.uk/pra/Documents/publications/reports/agreenreport.pdf">144-page assessment</a> by Andrew Green QC on whether the decisions taken on enforcement by the former regulator, the Financial Services Authority (FSA), were reasonable.</p>
<p>The first report paints a picture of reckless risk-taking by the HBOS board, which despite warnings continued with its growth strategy. The report said that the HBOS board had a “flawed and unbalanced strategy and a business model with inherent vulnerabilities arising from an excessive focus on market share, asset growth and short-term profitability”. And the FSA’s supervisory approach is described as “highly unsatisfactory”. </p>
<p>The UK’s approach to punishing the bad behaviour in its banking industry that led to the financial crisis has been lacklustre at best. While Iceland has sent 26 financiers to prison <a href="http://www.independent.co.uk/voices/iceland-has-jailed-26-bankers-why-wont-we-a6735411.html">for their misdemeanours</a>, not one senior banker in the UK has gone on trial over the failure of a bank.</p>
<figure class="align-center ">
<img alt="" src="https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" srcset="https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=278&fit=crop&dpr=1 600w, https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=278&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=278&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=349&fit=crop&dpr=1 754w, https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=349&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/102619/original/image-20151120-13460-16ujxgg.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=349&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
<figcaption>
<span class="caption">The Bank of England’s reports into HBOS took seven years to complete and cost £7m.</span>
<span class="attribution"><span class="source">shutterstock.com</span></span>
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</figure>
<p>The reports call for investigations into as many as ten senior executives and possibly the barring of them from working for a financial company, though it may be too late to impose any fines. Any attempt to impose retribution after such a long delay is bound to be contested by HBOS executives. So expect long legal battles. </p>
<p>Overall, the reports are disappointing. They are more noticeable for their silence and lack of attention to systemic problems. </p>
<h2>A system-wide problem</h2>
<p>A major regulatory problem in the UK is the <a href="https://www.academia.edu/17958528/THE_CHEMISTRY_OF_AUDIT_FAILURE_-_A_Case_Study_of_HBOS_audit_by_KPMG">revolving door</a> through which industry grandees become regulators and vice-versa. Are they defenders and promoters of industries or umpires and prosecutors? For example, James Crosby, HBOS’ chief executive until 2006 became a non-executive director of the FSA in 2005, and from 2007-2009 was also its deputy chairman. The report is silent on such relationships.</p>
<p>The HBOS report cites regulatory failures but fails to note that the UK has a fragmented and ineffective regulatory structure. The report does not address how HBOS was audited, despite the bank’s auditors being the most important group of independent professionals to regularly examine <a href="http://www.academia.edu/17958528/THE_CHEMISTRY_OF_AUDIT_FAILURE_-_A_Case_Study_of_HBOS_audit_by_KPMG">the performance and accounts of HBOS</a>. </p>
<p>Instead it defers to the accounting regulator, the Financial Reporting Council (FRC) which has <a href="https://www.frc.org.uk/News-and-Events/FRC-Press/Press/2015/November/FRC-statement-following-PRA-FCA-review-of-HBOS.aspx">indicated</a> it will look into the report. But those of us hoping for a swift conclusion will likely be disappointed. As a recent example, car manufacturer <a href="http://www.theguardian.com/business/2015/apr/13/deloitte-appeal-over-mg-rover-collapse-sees-14m-fine-cut-to-3m">MG Rover’s collapse</a> in 2005 amid allegations of accounting misdemeanours, was not concluded until 2015.</p>
<p>The report notes that HBOS had a remuneration committee consisting of non-executive directors, mostly directors of other companies. Executive pay was linked to profit targets. This encouraged excessive risk-taking. It draws attention to sharp accounting practices which boosted balance sheets and profits. At the same time, <a href="https://www.academia.edu/17957086/The_Political_Economy_of_Regulatory_Risk_Management_-_A_Case_Study_of_HBOS">risks were poorly monitored</a> by an audit committee consisting of non-executives. Despite the huge corporate governance failures, the report makes no recommendations about board structures or reward systems.</p>
<p>So despite the HBOS debacle and the banking crash little has changed. Banks remain devoted to maximising shareholder wealth even if that means taking excessive risks. Shareholders have only a short-term interest in banks as they constantly buy or sell shares to make short-term profits, and can’t invigilate mega corporations. HBOS employees and other stakeholders suffered, but there is no place for them on company boards. </p>
<p>Nothing has been done to protect and empower <a href="http://www.thisismoney.co.uk/money/news/article-3255385/My-ten-year-fight-against-HBOS-bosses-former-exec-turned-whistleblower-worked-men-steered-bank-brink.html">whistleblowers such as Paul Moore</a>, HBOS’s chief regulatory risk officer, who was fired in 2004 after he warned the board of the bank’s risky sales strategy. Auditor files are still secret and they still don’t owe a “duty of care” to any individual stakeholder, or even the regulator.</p>
<p>The publication of the HBOS report may enable politicians and regulators to draw a line under the affair, but the banking industry still needs major reform.</p><img src="https://counter.theconversation.com/content/50881/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Prem Sikka is director of the Association for Accountancy and Business Affairs (AABA), a not-for-profit organisation.</span></em></p><p class="fine-print"><em><span>Atul K. Shah does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.</span></em></p>A much-delayed report into the collapse of HBOS paints a picture of risk-taking by the bank’s board.Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkPrem Sikka, Professor of Accounting, Essex Business School, University of EssexLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/336112014-10-30T11:40:28Z2014-10-30T11:40:28ZTesco investigation comes amid calls for greater trust in the City<figure><img src="https://images.theconversation.com/files/63216/original/kdwpk7n8-1414604457.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">Under investigation.</span> <span class="attribution"><span class="source">46137</span>, <a class="license" href="http://creativecommons.org/licenses/by-nc-sa/4.0/">CC BY-NC-SA</a></span></figcaption></figure><p>The Serious Fraud Office is conducting a <a href="http://www.theguardian.com/business/2014/oct/29/serious-fraud-office-investigate-tesco">formal criminal investigation</a> into accounting practices at <a href="https://theconversation.com/uk/topics/tesco">Tesco</a>. In contrast, the Financial Reporting Council, whose primary remit is to regulate accounting, is still in the process of considering an investigation into the supermarket giant. Tesco has said that it is co-operating with the inquiry. </p>
<p>The SFO investigation comes amid discovery of a £263m black hole, <a href="http://economia.icaew.com/opinion/october-2014/tesco-an-opportunity-for-audit">reported by Deloitte</a>, in Tesco’s profits. Essentially it over-reported by this amount, primarily because of sales that were taken in advance, before they were actually made or the related costs had been booked. </p>
<p>This is a very simple accounting device that any <a href="https://theconversation.com/trolley-load-of-trouble-in-store-for-tesco-and-its-bean-counters-32008">good auditor</a> should be able to spot. These agreements are <a href="http://www.bbc.co.uk/news/business-29716885">common in the supermarket trade</a>, involving large sums of money. But prudence would dictate that profits are taken when earned and not in advance. And it comes at a time when wider accounting practices have been put under the public spotlight.</p>
<h2>Climate change</h2>
<p>At a major speech given at the LSE recently, the deputy governor of the Bank of England, Minouche Shafik, spoke about the need to rebuild trust in financial markets and put an end to <a href="http://www.lse.ac.uk/publicEvents/pdf/2014-MT/20141027-Minouche-Shafik-Transcript.pdf">market manipulation</a>. This comes in the wake of numerous scandals that affected the City of London, including <a href="https://theconversation.com/us/topics/libor">LIBOR</a> and <a href="http://www.independent.co.uk/news/business/news/serious-fraud-office-launches-criminal-probe-into-forex-manipulation-9619661.html">foreign exchange manipulation</a> without anyone batting an eyelid. </p>
<p>It seems what is most significant now is that the political mood to challenge this has changed. There is a new determination to <a href="http://www.bbc.co.uk/news/business-29788270">get rid of the “bad apples”</a>, and to show that the City is tough on fraud and manipulation. No longer is it economically viable for Britain to sweep these problems under the carpet, and ensuring accounts are trustworthy is fundamental to this. The public are rightly angry at the ways in which they have been exploited by so-called experts, including bankers, for so many years, and the need to bail out financial institutions with public funds.</p>
<p>In the past, the City was supported and even favoured by governments. Now, there is a feeling that its reputation has been severely tarnished – and prompt, decisive action is necessary to ensure the strength of London as a global financial centre.</p>
<h2>Better signals</h2>
<p>The public has had problems with greed, ethics and white-collar crime in the City for too long – and the modern corporation has been found to be <a href="https://theconversation.com/bankers-should-look-eastwards-for-ethical-guidance-27747">morally deficient</a>. The issue is rarely addressed by business schools directly and many academics around the globe have long been <a href="https://theconversation.com/its-time-to-put-social-impact-of-finance-on-the-curriculum-21930">complicit</a> in the fraud and manipulation of society. </p>
<p>This is unsustainable. Earnings management is wrong and should be prohibited. Auditors should be genuinely independent and play a critical role in policing giant corporations. Performance and rewards dependent on accounting numbers that incentivise bad behaviour and pay out bonuses for doing so must go. In short, corporate shortcomings should no longer be tolerated by society. </p>
<p>It is this climate that Tesco now finds itself in. Although there is no evidence that Tesco has acted in any way improperly, the announcement of the SFO investigation sends a good signal for business practice. If any wrongdoing has happened, I hope that this investigation will uncover it and punish the wrongdoers.</p><img src="https://counter.theconversation.com/content/33611/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Atul Shah receives has previously received funding from the Institute of Chartered Accountants in England and Wales of which he is a member.</span></em></p>The Serious Fraud Office is conducting a formal criminal investigation into accounting practices at Tesco. In contrast, the Financial Reporting Council, whose primary remit is to regulate accounting, is…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/319882014-09-22T14:14:17Z2014-09-22T14:14:17ZAlibaba feeding frenzy shows how little we have learnt<p>Greed is still good. Wall Street has just witnessed its largest ever stock market launch as Chinese internet giant <a href="https://theconversation.com/alibaba-investors-gamble-on-rise-of-ecosystem-internet-in-record-breaking-ipo-31807">Alibaba raised some $25 billion</a> and watched its share price rise by 35% on its first day’s trading. It says a lot about how little we have changed after the 2008 crash. We are still willing to be seduced by the perennial golden goose; still fearful of missing out; and still addicted to power, wealth and growth at any cost. </p>
<p>So if the shares saw such a spike, why did the bankers get the pricing so wrong? Effectively, the company lost over $8 billion at the launch because it <a href="http://www.ft.com/cms/s/3/cecb939e-4166-11e4-a7b3-00144feabdc0.html?siteedition=uk#axzz3E2O2MVdN">did not pitch at the right price to investors</a> from the outset. It is a similar story to the <a href="https://theconversation.com/royal-mail-row-shows-we-still-dont-understand-markets-26027">sale of Royal Mail shares</a> in the UK, though without the political fallout. The sad reality is that finance theory knows little about the fundamental value of a company as it all depends on future expectations which are uncertain and unpredictable. Even the best financial institutions could not price the shares “correctly”. The Financial Times believes the share issue was wildly over-priced and says that <a href="http://www.ft.com/cms/s/0/29d31b02-3fe8-11e4-936b-00144feabdc0.html#axzz3E1aUIug6">only with hindsight</a> will we know whether the market is pricing US equities correctly. </p>
<p>The FT has also expressed concern that a lot of investment is happening through hedge funds and funded with borrowed money. The bets are being placed with money from the banks which means the repercussions can be systemic if prices fall. </p>
<h2>Beauty parade</h2>
<p>Prior to the sale of the shares, millions were spent on a <a href="http://www.ft.com/cms/s/0/19399804-417b-11e4-a7b3-00144feabdc0.html#slide0">big public relations exercise</a> to boost the profile of Alibaba. Its founder Jack Ma had to go around the world to persuade potential investors about the future prospects of the company, and reassure them about the fact that the new shares do not give voting rights or direct ownership of the company. He argued that the legal structure is robust and reliable, but the legal structure is frankly complex, and the rights it gives shareholders not precisely clear. Room for doubt then you might say, and yet billions poured into the company. </p>
<p>The finance textbooks have little to say about the value of public relations and marketing when share prices are set. In fact, theory predicts that in an efficient and perfect world, it is a waste of money as investors and markets are smart enough to figure out the truth for themselves. Alibaba and its bankers clearly thought that theory was worth ignoring: millions were spent, the launch was seen as a huge success, and credit given to Jack Ma. It was a clever stage show.</p>
<figure class="align-left zoomable">
<a href="https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img alt="" src="https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=420&fit=crop&dpr=1 600w, https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=420&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=420&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=528&fit=crop&dpr=1 754w, https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=528&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/59712/original/f2b86bnf-1411389690.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=528&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px"></a>
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<span class="caption">Alibaba: There’s the rub.</span>
<span class="attribution"><a class="source" href="https://www.flickr.com/photos/micke_nordin/6971947491/in/photolist-bC646e-6v7Bx-9n5jqB-63JCm6-EExYs-fs8K1H-dfgr5i-7Fy3z-dDB4qS-gFRVf-9fWnug-8RqGgd-7fMnT8-7fRjmu-9fZtWA-6qnFQa-9fWnax-9fWnke-9fWnZi-9fZuf1-9fZtLY-9fWoi8">Micke Nordin</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a></span>
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<p>The fact that all this is happening right in front of our eyes – and allowed to happen – shows how out of control modern finance has become. Prices are based on expectations, and expectations of expectations. It also shows how willing many people are to cast their values aside for a share of the rollercoaster fortune, no matter how it is made, by whom or with what wider and longer-term repercussions for society. Just as Aladdin unleashed a genie from his lamp, it seems with Alibaba we have unleashed a genie out of global control, but with huge global power and influence. The market has said <em>Open Sesame</em>, without fully caring for the consequences. All most of us can do is to sit and watch, and be ready to bail out this gambling machine if it all turns sour. We are all participants in the feeding frenzy, whether or not we eat. Society is once again taking <a href="https://theconversation.com/financial-literacy-is-shockingly-low-and-the-academy-must-do-more-31321">involuntary risks</a> through financial markets, and we have already experienced the human consequences of this madness many times.</p>
<h2>All gain no pain</h2>
<p>We should also question the fundamental ethics and values of those investors and institutions so keen to make a quick return for no effort at all. When people put effort into their jobs or business, and it grows, they can experience the joy of achieving something, learning and enhancing their skills in the process, and sharing the rewards with their colleagues or stakeholders. </p>
<p>I fail to see human sacrifice in earning a quick buck on Alibaba shares, nor any interest in the fundamental ethics of the company or its practices. It is classed as a combination of Amazon and eBay in the world’s fastest-growing economy. It is a middle-man – not a manufacturer or farmer, but a supplier with huge selling power and reach. Jack Ma thanked the investors for their “trust” in Alibaba after the successful launch. <a href="http://www.theguardian.com/business/2014/sep/18/alibaba-and-the-40-facts-ipo">The Guardian </a> reports that Ma’s letter to staff the day after the IPO signalled the firm would “adhere to the principle of ‘customers first, employees second, shareholders third’.” </p>
<p>The report also notes criticism that Alibaba sites are a magnet for sellers of fake goods, even though the company says it spend millions rooting them out. <a href="https://theconversation.com/bankers-should-look-eastwards-for-ethical-guidance-27747">Ethics</a> seem very far from the way modern powerful businesses act and behave. Contradiction is rampant.</p>
<p>When investors are on a rollercoaster, the only thing they pray for is that they can profit from the ride, and get off just in time. No trust is involved here. Initially <a href="http://www.ft.com/cms/s/3/cecb939e-4166-11e4-a7b3-00144feabdc0.html?siteedition=uk#axzz3E2O2MVdN">there is a fear of missing out, and later there is a fear of staying involved</a> according to the Financial Times. The common by-word is <em>fear</em>. We are afraid to not make money, and afraid of losing it once we have made it. That fear imprints on our psyche, and lasts longer than the profit we have made from the bubble. </p>
<p>The investors who piled into Alibaba are not so different from the rest of us. Financial fear ruins the lives of so many ordinary people and I wonder how much modern finance contributes to depression and mental illness? The <a href="https://theconversation.com/its-time-to-put-social-impact-of-finance-on-the-curriculum-21930">Tax Justice Network </a> have shown that is indeed a curse on society. Instead of being its servant, it has become our master. They are not far from the truth. Perhaps if financial markets would scale back the bets based on smoke and mirrors, fear and greed, then we might be able to learn to trust one another for real.</p><img src="https://counter.theconversation.com/content/31988/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Atul Shah does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations.</span></em></p>Greed is still good. Wall Street has just witnessed its largest ever stock market launch as Chinese internet giant Alibaba raised some $25 billion and watched its share price rise by 35% on its first day’s…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/313212014-09-09T10:22:11Z2014-09-09T10:22:11ZFinancial literacy is shockingly low and the academy must do more<figure><img src="https://images.theconversation.com/files/58483/original/yq8z8gwm-1410192862.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">Confused?</span> <span class="attribution"><span class="source">Kemal Taner via Shutterstock</span></span></figcaption></figure><p>The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The <a href="https://www.moneyadviceservice.org.uk/en">Money Advice Service</a> surveyed 3,000 adults and found that 32% did not understand the meaning of interest and a further 32% did not understand the meaning of budget. </p>
<p>The survey also found that half the people who took out a <a href="https://theconversation.com/uk/topics/payday-lending">Payday Loan</a> do not understand the meaning of loan, with one in five believing that they are not obliged to pay it back. Plus, a majority of people do not read the terms and conditions of a financial contract. All this confusion cost the UK £21 billion last year. And this doesn’t take into account the <a href="http://financesonline.com/payday-loans-debt-and-death/">consequential costs</a> of family break-up, depression and mental health breakdown which follow.</p>
<p>These are all basic concepts for university finance teaching and courses – the courses that many of those creating these financial instruments take. But finance taught in business schools rarely attempts to address the huge inequality that exists in the knowledge and understanding of finance across the general public – nor the consequences this can have. It also tends to focus primarily on corporate finance, a subject which concentrates on the financial issues facing companies and on complex financial products and markets. </p>
<p>If Britain is one of the highly developed nations of the world, then this level of illiteracy should be a matter of significant concern for the finance academy. We must act now to ensure that finance education doesn’t lose touch with real people, as it runs the risk of being centred around corporate interests. Finance should be about service to the economy and society for sustainable development and growth. Instead too much of talent is focused on profit and wealth maximisation at any cost.</p>
<h2>Complexity and jargon</h2>
<p>The <a href="http://www.bloomberg.com/news/2012-07-05/made-in-london-scandals-risk-city-s-reputation-as-finance-center.html">large number of scandals</a> that have emerged recently, relating to the mis-selling of mortgages, payment protection insurance, pensions and savings products, shows that banks actively exploit the financial illiteracy of the general public. Complexity and jargon have been used to deceive rather than to be fair and transparent. </p>
<p>This raises a number of questions for the teaching of finance in universities. Take banks, for example: are they using complex mechanisms to disguise the truth about finance and make it appear scholarly and objective? Is modern finance teaching and research a party to the exploitation of financial illiteracy and unconcerned about its own ethics and social responsibility? Does the finance academy operate in its own bubble?</p>
<p>The 2008 banking crisis and follow-up parliamentary enquiries raised serious concerns about the [culture and ethics of the banking industry](](https://theconversation.com/bankers-should-look-eastwards-for-ethical-guidance-27747). The public cost of the crisis was to the tune of hundreds of billions for Britain alone. And the same ordinary people who were exploited by banks had to bail them out even though they were not at fault. </p>
<p>Regulators are now requiring banks to transform their ethics and culture from the inside out. I think the same should apply to teaching and research in finance. And, in turn, by having a more informed public of the way that finance works, bankers and businesses can be better held to account.</p>
<p><a href="http://www.pbs.org/now/enterprisingideas/Muhammad-Yunus.html">Nobel Prize winner Mohammed Yunus</a> achieved huge success in alleviating poverty in Bangladesh through “micro-finance” – providing small loans to householders to provide basic goods and at the same time, giving them basic training and education about finance and accounting, including budgeting. He argues that credit is a human right, and through the Grameen Bank, he has lifted millions of people out of poverty and into self-sufficiency and self-esteem.</p>
<h2>Encouraging a literacy revolution</h2>
<p>We need a similar grassroots financial literacy drive if we want families to be truly independent and financially stable. Websites like <a href="http://www.moneysavingexpert.com/">Money Saving Expert</a> started by Martin Lewis are huge assets to financial literacy, but not sufficient. I believe it is a public duty of the finance academy to encourage a more widespread literacy revolution. </p>
<p>If complexity is used to confuse and exploit, then the role of these experts becomes questionable. Bankers and their customer finance advisers are experts of a kind, though often biased by the desire to make profits for their employers. Instead, their expertise should be used to promote a fair, ethical and sustainable society where there is equality of opportunity. Bankers should never forget that they are servants to business and enterprise, not masters of them.</p>
<p>In the pursuit of high finance we have forgotten the fundamental role and purpose of our profession and its wider impact on the economy and society. Rather than questioning corporate behaviour, we have become party to its tax avoidance, labour and environmental abuse, and other deliberate exploitation schemes that increase inequality in society. For me, these are matters of huge concern and require urgent action. The start can be made by changing the finance syllabus, and critically reforming the academy’s ethical values.</p><img src="https://counter.theconversation.com/content/31321/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Atul K. Shah does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.</span></em></p>The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The Money Advice Service surveyed 3,000 adults and found that 32% did…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/277472014-07-30T05:25:45Z2014-07-30T05:25:45ZBankers should look eastwards for ethical guidance<figure><img src="https://images.theconversation.com/files/50862/original/ypn5cwts-1402505009.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">Diwali celebrations in the City of London</span> <span class="attribution"><a class="source" href="https://www.flickr.com/photos/23601695@N00">everheardofaspacebar</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/">CC BY-SA</a></span></figcaption></figure><p>The crash of 2008 revealed an ethical crisis in banking, one of our most powerful and critical industries. To encourage bankers to clean up their act, proposals including caps on bankers bonuses, better risk management and tighter regulation were all put forward. However, all attempts to change behaviour have frustrated the regulators as finance workers are stubbornly refusing to change their values. </p>
<p>The latest suggestion for a new <a href="http://www.bbc.co.uk/news/business-28535001">oath for bankers</a> comes from the think-tank ResPublica. Under the plan, bankers would pledge to always place their customers’ interests ahead of their own, and to “confront profligacy and impropriety”. Invoking the language of faith, ResPublica head Philip Blond said such an oath would “finally place bankers on the road to absolution”. </p>
<p>Maybe a little more faith is indeed what is required to clean up the industry. At least the powers that be are finally waking up to the importance of banking’s ethical crisis. At a recent conference on “inclusive capitalism”, IMF head Christine Lagarde and Mark Carney, governor of the Bank of England, both <a href="http://www.ft.com/cms/s/0/821b7930-e57f-11e3-a7f5-00144feabdc0.html#axzz3489Mdiqp">sounded very strong warnings</a> about financial ethics. And yet even these major figures complained about a severe industry pushback against reform, in spite of huge losses and scandals. </p>
<p>There is little respect for rules and regulation, in spite of the fact the industry has been so toxic. Carney <a href="http://www.ft.com/cms/s/0/821b7930-e57f-11e3-a7f5-00144feabdc0.html#axzz3489Mdiqp">aptly said</a>: “Ultimately … integrity can neither be bought nor regulated.” </p>
<p>It seems more regulations or initiatives may not be the real answer to the ethical crisis in banking. Reform has to happen from the inside out, and true change can be enriched and empowered by taking on board the lessons of some of the planet’s oldest spiritual traditions. So why not look east? In the dharma traditions of Hinduism, Buddhism, Sikhism and Jainism there are several profound messages about humanity’s relationship with money and possessions that could influence the content of a bankers’ oath.</p>
<p>Seeing how the City or Wall Street relates to the big issues of the day – inequality, global warming, sustainable growth and development – is again impossible if ethical considerations are ignored. These are very big questions, ones which we must face head on, as the price of ignoring them has already been too high. For far too long, finance has been preoccupied with its own neo-liberal theories of market efficiency and perceptions of superior intelligence, which have repeatedly failed humanity. Humility is much-needed, but rarely practised. </p>
<h2>Look to the wise</h2>
<p>However, many bankers working in the City of London come from cultural and faith traditions which have explored these issues very deeply, and developed wisdom which has stood the test of time.</p>
<figure class="align-right ">
<img alt="" src="https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=833&fit=crop&dpr=1 600w, https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=833&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=833&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=1047&fit=crop&dpr=1 754w, https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=1047&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/50855/original/mxbh2fch-1402499659.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=1047&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
<figcaption>
<span class="caption">A whimsical goddess.</span>
<span class="attribution"><a class="source" href="https://www.flickr.com/photos/celeste33/227007846">Celeste Goulding</a>, <a class="license" href="http://creativecommons.org/licenses/by-nc/4.0/">CC BY-NC</a></span>
</figcaption>
</figure>
<p>For example, Hindus believe in Lakshmi, the goddess of wealth, and regularly pray to her for strength and prosperity. Lakshmi is seen as a temperamental and whimsical goddess – characteristics she shares with money itself – and she needs to be pacified and respected. Also when Hindus pray for prosperity, it is not just for their own family, but for the empowerment to help the wider community through charity and generosity. In fact, the word for Hinduism – <em>Sanatana Dharma</em> – means the science of universal sustainability. For Hindus, capitalism is inclusive of the whole planet and not exclusive to themselves.</p>
<p>I am a Jain, as is the present chief executive of Deutsche Bank, Anshu Jain. For thousands of years, Jains have held the view that money can never bring lasting happiness, and that we have to actively practice detachment from wealth and possessions – a concept known as <em>aparigraha</em>. Money should never be allowed to become a master of life and purpose. In fact, this philosophy has played a big role in helping generations of Jains to become <a href="http://visar.csustan.edu/aaba/Shah2007.pdf">very successful entrepreneurs and financiers</a>. </p>
<p>The Jain dharma originated from India, and one of its central tenets is <em>ahimsa</em> – respect for all living beings. The word “dharma” itself means the science of sustainable living, and the Hindu, Sikh, Buddha and Jain traditions have a strong underlying scientific and ecological philosophy.</p>
<p>Rituals are also an important reminder of values and purpose. <a href="https://www.youtube.com/watch?v=_NGjn2BJDOY"><em>Chopda Pujan</em></a> is a timeless Hindu-Jain ritual which brings entrepreneurs together every year on Diwali to pray to Lakshmi and thank her for the success she has endowed, and ask her for greater empowerment to help others through their businesses in the coming year. It is still widely practised throughout the UK and the world by these communities. </p>
<p>The collective act of worship reminds people that they are interdependent, and their own success and happiness is not disconnected from the wider community and society. Some very good City organisations led by young professionals such as the <a href="http://www.cityhindusnetwork.org.uk/">City Hindus Network</a> and the <a href="http://www.citysikhs.org.uk/">City Sikhs Network</a> already educate people about these traditions. In the heart of the City, these young leaders are trying to transform its values, through their own resourcefulness and social concern.</p>
<p>Banks urgently need to enter into a multi-faith dialogue with such groups. Some attempts have been made: the City of London hosts a multi-faith tent called <a href="https://www.stethelburgas.org/">St Ethelburga’s Centre for Peace and Reconciliation</a>, for instance. Faith traditions have been an important resource for regulating finance in the past, and can also do so in the future.</p>
<p>Bankers need to recognise the huge damage their industry is doing <a href="https://theconversation.com/its-time-to-put-social-impact-of-finance-on-the-curriculum-21930">to the future of our society</a>. Taking an oath and thinking seriously about faith, ethics and sustainability could be the start of a new future for banking. The answers are already there in human history, wisdom and experience. Money once again needs to become a servant and not a master.</p><img src="https://counter.theconversation.com/content/27747/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>I am presently Co-Chair of the National Council of Faiths & Beliefs in Further Education, a non-profit charity. I have conducted seminars in the past on Faith and Finance at St. Ethelburgas.</span></em></p>The crash of 2008 revealed an ethical crisis in banking, one of our most powerful and critical industries. To encourage bankers to clean up their act, proposals including caps on bankers bonuses, better…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/219302014-01-20T06:12:01Z2014-01-20T06:12:01ZIt’s time to put social impact of finance on the curriculum<figure><img src="https://images.theconversation.com/files/39237/original/jzhyyrsp-1389897392.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">The evil empire?</span> <span class="attribution"><span class="source">Stefan Rousseau/PA</span></span></figcaption></figure><p>The global crash of 2008 kicked off a furious debate in the UK about whether or not the City of London is a real asset to the economy. There was huge anger about the multi-billion bail-out of failed banks and the size of bankers’ bonuses. The men in dark suits working in posh buildings were engulfed in suspicion and resentment, with animosity toward them unleashed like never before.</p>
<p>The finance curriculum, which I teach, has nothing to say on these matters. There is no required discussion on industry ethics, nor on the social impact of finance. Some like <a href="http://www.economonitor.com/blog/author/sdas3/">Satyajit Das</a>, author of Extreme Money, argue that the finance academy operates in a parallel universe where theories are remote from practice – and often technical complexity and confusion are used to obscure and abuse. </p>
<p>There are urgent practical matters to discuss, like widespread basic financial illiteracy, the problems of personal debt, corporate greed and excess, tax avoidance and regulatory arbitrage, the questionable tax subsidy of borrowing by governments. Yet these things are not even in the syllabuses of finance courses, which are still obsessed with “maximising firm value”. Individuals are assumed to be informed and rational in the economic theories, when in practice, they are far from it.</p>
<p>Unless we act now, we are running the risk of breeding a generation of highly qualified thieves. We urgently need to make people accountable for their crimes and spare no effort to catch professionals undermining and abusing the system. Five years on from the financial crisis, not much has changed. The anger has subsided, but the men in suits still prevail and the posh buildings are still as exotic – and more are coming up in the City and Docklands. </p>
<p>In a recent piece of outstanding research, Nicholas Shaxson and John Christensen analyse this “<a href="http://www.taxjustice.net/cms/upload/pdf/Finance_Curse_Final.pdf">Finance Curse</a>” (as they call it) in all its subtleties and complexities – and their findings are truly shocking.</p>
<p>Shaxson and Christensen argue that an over-sized financial sector is a huge disadvantage – socially, morally, politically, and most of all, economically. To them, the City of London is not the boon it is widely hailed to be by politicians and economists, but instead a huge curse. In fact, they actually demonstrate how finance results in “country capture”, a noose over the entire society, polity and economy of the country.</p>
<p>The “finance curse” as they describe it is analogous to the well-known “<a href="http://www.investopedia.com/terms/r/resource-curse.asp">resource curse</a>”, the tyranny that oil and other natural resources exert over <a href="http://knowledge.wharton.upenn.edu/article/the-resource-curse-why-africas-oil-riches-dont-trickle-down-to-africans/">many economies</a>. An abundance of resources has led to unemployment, inequality, corruption, authoritarianism and crowding out of other local sectors such as manufacturing or agriculture. </p>
<p>The “Finance Curse” uses evidence from tax haven islands like Jersey or Cyprus as test cases, showing the consequences of these countries’ overwhelming dependence on finance. In places like these, the “capture” of the government and the legal system is complete; there is extreme inequality and a lack of economic diversity, in turn leading to risk and instability.</p>
<p>This will be all too familiar to those of us who live in Britain. After all, we have been through a long period of industrial decline, inequality is increasing, unemployment remains high and welfare structures designed to aid the poorest and weakest remain under concerted attack. Meanwhile, the City is protected, subsidised and even encouraged. The ancient City of London Corporation (which some call the world’s largest <a href="http://www.newstatesman.com/economy/2011/02/london-corporation-city">tax haven</a>) remains a staggeringly influential <a href="http://www.newstatesman.com/economy/2011/02/london-corporation-city">lobbying force</a>, and industry donors contribute a crucial chunk of the <a href="http://www.thebureauinvestigates.com/2011/09/30/hedge-funds-financiers-and-private-equity-tycoons-make-up-27-of-tory-funding/">Conservative Party’s funding</a>.</p>
<p>Finance has also crowded many other sectors out of the recruitment and investment game. It has regularly sucked in top talent from universities; investment in research and development and manufacturing has been in decline in Britain for decades; lending to small and medium sized businesses has been very poor. </p>
<p>Meanwhile, on the pretext of supporting the country, the City has concentrated its efforts on tax and regulatory arbitrage, and has preserved itself and its profits through financial engineering, hiding real risks and sucking income and revenue from their products, combined with brazen fraud and mis-selling. We the public are subsidising our economic and moral collapse.</p>
<p>If a country is to sustain a large financial sector, it needs a healthy infrastructure of regulation, ethics, political stability and strong governance. The Finance Curse argues that our financial services industry undermines all these things routinely, but political capture means leaders routinely allow these institutions to break the law and avoid paying their fair share of taxes. </p>
<p>It is unbelievable that taxpayers were called on to bail out this industry, even as it tried to help other companies dodge their tax obligations. There is plenty of evidence to show the <a href="http://www.theguardian.com/business/2009/dec/31/fraud-recession-kpmg-report">increase in white-collar crime</a> in Britain, especially in the finance sector, but the prosecution or even criminalisation of this is virtually absent –- an example of how the state allows this deliberate hypocrisy to prevail through spin and regulatory failure.</p>
<p>An over-sized finance sector is essentially an over-sized debt and risk economy, because at its root, finance is about debt and borrowing. Common sense, on the other hand, dictates that making or creating something is ultimately more important than measuring or financing it. From a young age, I have been taught this – and that debt is bad while saving is good – so my own moral and ethical standpoint makes the thesis of the finance curse easy to accept. </p>
<p>Our time is short. The property bubble, fuelled by the finance industry, means that young people need well-paid jobs to get onto the property ladder, tempting them to cast their values aside in search of salaries that only finance can offer. This is my major worry for the future - talented brains will be used to undermine the system rather than reform it. </p>
<p>We are becoming morally captured by this nightmarish industry; in the process, we are losing the capacity to exercise our democratic powers and break this evil finance curse. We must act, now.</p><img src="https://counter.theconversation.com/content/21930/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Atul Shah has previously received research grants from the Institute of Chartered Accountants in England & Wales and the Economics and Social Research Council for his work on Creative Accounting and Regulatory Arbitrage through Financial Innovation.</span></em></p>The global crash of 2008 kicked off a furious debate in the UK about whether or not the City of London is a real asset to the economy. There was huge anger about the multi-billion bail-out of failed banks…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/217132014-01-06T06:11:55Z2014-01-06T06:11:55ZDrugs and the city: an open secret, so why no testing?<figure><img src="https://images.theconversation.com/files/38460/original/hryzghtw-1388680389.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">This is your brain on capitalism.</span> <span class="attribution"><span class="source">Willard</span></span></figcaption></figure><p>When the <a href="http://www.theguardian.com/business/2013/nov/23/coop-scandal-paul-flowers-mutual-societies">chairman of the ethical Co-operative Bank</a> was recently caught on camera purchasing drugs, it became a major news story. But the links between drug-taking and Wall Street or the City of London have been a truism for years. In 2005, Dr <a href="http://www.ft.com/cms/s/0/18f8ce4a-5f87-11d9-8cca-00000e2511c8.html">Alden Cass</a>, a Wall Street therapist, was quoted by the Financial Times saying there is a thriving white-collar black market for the prescription drug Ritalin, which is not very different from cocaine. As regards London, Dr <a href="http://www.ft.com/cms/s/0/59f94172-c332-11de-8eca-00144feab49a.html">Neil Brenner</a>, medical director of the Priory Group, was quoted saying that the main City drugs are cocaine, alcohol, amphetamines and marijuana. </p>
<p>There have been many other stories in the media of drug arrests among finance workers over the years. I also know from personal experience that in the City of London, for many years, pubs have been heaving every weekday evening; alcohol is a routine part of City life. In spite of this evidence of addiction, the banking professions both in the UK and the US have done nothing to deal with it. The huge pressures for change and reform are met with a conspiracy of silence. </p>
<p>So the story of drugs in finance is not new. But what is new is the focus on the ethics and culture of people who work in large and influential financial institutions, and this scrutiny has increased radically since the 2008 Global Financial Crash. </p>
<figure class="align-left ">
<img alt="" src="https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" srcset="https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=902&fit=crop&dpr=1 600w, https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=902&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=902&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=1133&fit=crop&dpr=1 754w, https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=1133&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/38454/original/769mjxxf-1388678569.jpg?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=1133&fit=crop&dpr=3 2262w" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px">
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<span class="caption">Work hard, play excessively?</span>
<span class="attribution"><span class="source">Anthony Devlin/PA</span></span>
</figcaption>
</figure>
<p>I recently attended a conference on this theme at the London School of Economics, which was packed by senior people from the City and regulators. An <a href="http://www.lse.ac.uk/researchAndExpertise/units/CARR/pdf/Final-Risk-Culture-Report.pdf">excellent study</a> on risk management and culture in the City of London by Michael Power, Simon Ashby and Tommaso Palermo was launched at this event. The findings of this research raised a number of critical questions about the engagement of leaders and executives in the process of culture change and the active monitoring of risk appetite, behaviour and performance.</p>
<p>At the conference, I asked a very simple question as I was suspicious about the genuine commitment to culture change: when will drug testing be introduced to the City? I got only one response from a panellist who said that there was no real drug problem and so no need for testing. I found this very surprising indeed, and the cynic in me decided that this was evidence of a lack of genuine commitment to culture change in the City. The highly critical Salz review of the <a href="http://www.bbc.co.uk/news/business-22012261">culture and governance of Barclays</a> also did not say anything about monitoring addiction.</p>
<p>We know from the various investigations into the crash that there were serious problems with risk management and control inside various financial institutions. The risk takers often had much more power and influence than the controllers or compliance officers. In my own research, I have been examining this “political conflict” in detail. Could it be that the risk takers were addicted to their work, and took risks simply for the “high”? Is it also possible that the long hours and stress of working in the City drive people to various addictive substances in search of a coping strategy?</p>
<h2>Addictive risk</h2>
<p>We know from research and experience that <a href="http://www.nhs.uk/Livewell/addiction/Pages/gamblingaddiction.aspx">gambling is an addiction</a>. High finance is a form of gambling; the eminent political economist Susan Strange called it “<a href="http://books.google.co.uk/books/about/Casino_Capitalism.html?id=YxgNAQAAIAAJ&redir_esc=y">Casino Capitalism</a>” way back in the mid-1980s. Financial institutions provide a legitimate and legal platform for high-stakes gambling, funded by huge amounts of debt provided through the banking sector. This was a principal cause of the huge disaster we experienced in the global crash of 2008. <a href="https://theconversation.com/profiles/prem-sikka-4302/profile_bio">Professor Prem Sikka</a> has written very important articles here on the implications of the Crash, and the profound weaknesses of the reforms that are being undertaken.</p>
<p>In sport, drug testing is a <a href="http://www.ukad.org.uk/what-we-do/about-doping/">routine technique</a>) for routing out cheating; similarly, alcohol testing in driving is very common and those who are caught are severely punished. Addiction testing is reliable and well-tested. Even <a href="http://www.wickland-westcott.co.uk/thought-leadership/">psychometric testing</a> is routinely used during recruitment to weed out certain character traits; there is no obvious reason why it should not be applied to monitor staff behaviour, especially when staff hold positions of power and influence.</p>
<p>Given the huge wave of new reforms and regulations in the City, a large majority of which are structural, why can we not apply this simple tried-and-tested technology to root out the problem of addiction? Many people, <a href="http://news.bbc.co.uk/1/hi/2817995.stm">Warren Buffett</a> among them, have called derivatives “weapons of mass destruction” –- in the wrong hands, they have caused widespread damage to society. I therefore find it surprising that we are not using simple tried-and-tested safety technologies to ensure that we do not repeat the mistakes of 2008 and subsidise the bad behaviour of bankers.</p>
<p><a href="http://www.rollingstone.com/politics/blogs/taibblog/lurid-subprime-scams-unveiled-in-long-running-fraud-trial-20131212">Some voices</a> have protested that the political power and influence of big financial institutions is such that they are “too big to jail”, campaigning for justice against these institutions that seem to be above criminal accountability. It is true that very few people have been prosecuted despite the huge crises and scandals that unfolded after 2008. Some have even argued that the UK is suffering under a <a href="http://www.taxjustice.net/cms/upload/pdf/Finance_Curse_Final.pdf">Finance Curse</a>, with the Finance industry destroying our economy, our society and our morality. Could it also be that these influential people are themselves taking drugs or suffering from addictions, and therefore highly resistant to such testing? Alternatively, is it possible that Bank management want to protect their ‘high-yielding risk taking’ assets and are happy to turn a blind eye to addiction? Without addiction-testing in the finance industry, it is impossible to know.</p>
<p>Even in the area of banking ethics and values, despite huge criticism from the public, Bankers have not invited an open dialogue and conference with their investors and customers to debate their conduct and behaviour. They have simply avoided this, and used spin to try and show that they are now different from what they used to be. Most of the punishments in areas like LIBOR manipulation, PPI mis-selling, Sub-prime Mortgage frauds – have been made in the form of fines payable by the institutions. Barclays is the only institution that has been open to root and branch reform and culture change.</p>
<p>There is an urgency to engage in people-change initiatives, and addiction-testing in Banking is critical to rooting out irrational risk taking. It is high time that we apply simple, practical and scientific solutions to stop widespread drug use and addiction in the City. If the Banks do not agree to this, the <a href="http://www.fca.org.uk/">Financial Conduct Authority</a> must impose it and enforce it. We have suffered far too much in subsidising this industry, and to protect ourselves from its excesses, we need to police its behaviour to the fullest extent possible. If in a year’s time this action is not taken, it will show us the real colours of the Financial Conduct Authority and its commitment to culture change.</p><img src="https://counter.theconversation.com/content/21713/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Atul Shah has received funding in the past from the Institute of Chartered Accountants in England & Wales and the Economic & Social Research Council for his research on financial regulation and derivatives.</span></em></p>When the chairman of the ethical Co-operative Bank was recently caught on camera purchasing drugs, it became a major news story. But the links between drug-taking and Wall Street or the City of London…Atul K. Shah, Senior Lecturer - Accounting & Finance, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.tag:theconversation.com,2011:article/153142013-07-17T05:39:27Z2013-07-17T05:39:27ZAn indignant generation is raging around the world<figure><img src="https://images.theconversation.com/files/26341/original/kthdjfqf-1372344163.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=496&fit=clip" /><figcaption><span class="caption">A new generation is raising a fist in anger.</span> <span class="attribution"><span class="source">Gert Bruininkx</span></span></figcaption></figure><p><strong>Foundation essay:</strong> <em>This article on the indignant generation by Simon Hallsworth, head of the School of Applied Social Sciences at University Campus Suffolk, is part of a series marking the launch of The Conversation in the UK. Our foundation essays are longer than our usual comment and analysis articles and take a wider look at key issues affecting society.</em></p>
<p>People are filling the streets all around the globe. From Turkey to Brazil, Libya to Egypt, the circumstances change but the scenes are eerily alike. Shouting, marching, clashing with police; masses of angry people gather together to share their indignation. And they are becoming impossible to ignore. </p>
<p>In August 2011 England’s metropolitan cities erupted in the worst outbreak of urban disorder the country had witnessed in three decades. At the end of four days involving 14,000 people, scores of buildings were destroyed; shops were looted and lives were lost. </p>
<p>It did not take the government long to identify what had gone so badly wrong. The riots were explained away in the first instance as manifestations of “mindless criminality” perpetrated by urban gangs. Shortly after, the discourse shifted to implicate half a million “troubled families”, products of a feckless underclass that had apparently given birth to the gangsters that then went on to riot.</p>
<p>In a subsequent <a href="http://webarchive.nationalarchives.gov.uk/20121003195935/http:/riotspanel.independent.gov.uk/wp-content/uploads/2012/03/Riots-Panel-Final-Report1.pdf">report produced by the Riots Families and Communities Panel</a> (reluctantly established by the government to investigate the disorder) a range of solutions was touted. The police were praised for taking a hard line with rioters who were being relentlessly hunted down before receiving exemplary punitive sentences. </p>
<p>Schools were instructed to instil “character” in young people and proposals were made suggesting they be fined if they failed. Money was made available to turn around the “troubled families” of the “underclass”, and more was given out to “end gang violence” - even though evidence began to emerge that <a href="http://www.guardian.co.uk/commentisfree/2011/aug/09/london-riots-gangs">gangs were not responsible for the riots blamed on them</a>. </p>
<p>Devastated riot-hit cities did not constitute an image remotely consistent with the brand the government wanted to promote of a happy entrepreneurial society populated by contended, freedom-loving individuals. The wedding of Prince William to Kate Middleton surrounded by happy crowds of cheering subjects was the image of Britain that needed to be celebrated along with the individuals who, through voluntarism or private enterprise, would build a new “<a href="http://www.thebigsociety.co.uk/">Big Society</a>”. </p>
<p>The Olympics duly arrived in 2012 and seemed to give life to the brand as athletes struck gold. The opening ceremony with its eclectic mish-mash of all things British provided a visual representation of a society that appeared to be coming together in common accord.</p>
<p>Meanwhile, back on the estates of the inner cities, things looked altogether different. As <a href="http://www.guardian.co.uk/uk/series/reading-the-riots">research conducted by the LSE and the Guardian</a> uncovered, the rioters came disproportionally from marginalised communities dwelling in Britain’s poorest and most deprived areas. </p>
<p>What the research also brought to light was the indignation they experienced at the way things were. Indignation they dramatised in riot through the inversion and ritual demolition of the very principles around which rule-based societies are constituted: namely that within them people normally obey rules.</p>
<p>Are they the only indignant ones? Arguably not because indignation best describes the dominant emotion that shapes the lives of an entire generation of young people today.</p>
<p>Let’s return to the violent street world from which many of the rioters derived. A world populated by young people who also experience and carry within them a legacy of <a href="crj.sagepub.com/content/9/3/359.abstract">deeply internalised anger</a>. Indignation graphically expressed in violence. The depressing litany of young men killed by other young men just like them represents in this sense the symptoms of anger inwardly directed. </p>
<p>But they are not the only ones capable of self-mutilation. Take The English Defense League (EDL) – predictably <a href="http://www.independent.co.uk/news/uk/rightwing-american-speakers-planning-to-join-the-edls-woolwich-march-should-be-banned-from-entering-the-country-8668686.html">out in force</a> in the wake of the Woolwich murder. Here we find another group of deluded men defined by the indignation they feel. Sad products of a working class in free-fall, whose demise they blame on migrants undertaking work they would never touch.</p>
<p>The violence of the street is mostly implosive: gangsters kill each other, the EDL takes out its anger on another part of the working class. But indignation can also become explosive and outwardly directed and this is how we might retrospectively best make sense of the English riots. </p>
<p>The externalisation of indignation also explains the motivation behind Occupy. A movement populated not by the urban poor, but by a middle class constituency whose life chances are immeasurably diminished compared with those enjoyed by the baby boomers of the post war epoch.</p>
<p>Is this wave of indignation connected? More so than it first appears. We can begin with the material conditions these diverse constituencies face in the context of a society in which they lead increasingly precarious lives. Indeed, all the groups identified above belong to what the economist Guy Standing terms the <a href="http://www.bloomsburyacademic.com/...Precariat/book-ba-9781849664554.xml">new precariat</a>. This is, he argues, a new class in the making. It has no history and no class consciousness.</p>
<p>A fragmenting working class is being decanted into it - including many members of the EDL. The denizens of the UK’s violent street world also live precarious lives in what has become for most a low wage, low status “mac economy” where temporary work, unemployment and endemic insecurity constitute the conditions of its existence. </p>
<p>The migrant communities that the EDL blame also live precarious lives, and precariousness is a term that captures well the lives of the rioters as the <a href="http://www.guardian.co.uk/uk/series/reading-the-riots">Guardian LSE research</a> uncovered. The educated young people who were involved in Occupy also form part of the new precariat; many burdened down with student debts they will never pay off.</p>
<p>Ruling regimes do not require the full ideological incorporation of their subjects. And while persuading people to believe in the virtues of the ruling regime might be desirable it is not a necessary condition. What ruling regimes must avoid however is being considered wholly illegitimate. If they can’t keep all the people happy all of the time they have to avoid making too many people too unhappy. More than that, they have to avoid seeing the pragmatic acquiescence that normally defines most people’s relationship towards power (and the powerful) mutate into indignation and rage.</p>
<p>The Arab Spring (another movement driven forward by indignation) epitomises what happens when this occurs. Though it would be pushing matters too far to suggest the UK faces a crisis of legitimacy, the neo-liberal regime does and this is expressed variously in the indignation carried and expressed by its growing precariat, the new indignant generation.</p>
<p>While it is possible to identify in the endemic insecurity of lives lived precariously, a motive for indignation, it has been accentuated by the extent to which the ruling regime has all too effectively delegitimised itself; hollowing out, in so doing, any claim to integrity or moral authority. </p>
<p>We might begin with the feral over-class of financiers and the tame politicians that aided and abetted them in orchestrating the global financial meltdown; a crisis that’s costs are not borne by the class that induced it by but those whose lives have become more precarious as a consequence.</p>
<p>Add to this list the venality of the political elite in the UK who were caught with their hands in the nation’s till as the political crisis that followed the exposure of the expenses scandal revealed. Add to this toxic mix Blair’s disastrous foreign policy adventures and all of a sudden it is quite clear to see why our western ways are not resonating with an increasingly disillusioned and angry generation of young people that had every right to expect better.</p>
<p>A nomadic capitalist elite (the one percent) has not only accumulated the world’s wealth, it is clear that it has every intention of hanging on to it as “fat cat” culture of excessive pay testifies. The ruling regime reproduces itself certainly but does so in ever more self-destructive ways. But consider this; in the past five years the UK has experienced an economic crisis from which it has not recovered, then a political crisis. In the wave of indignation we are witnessing today we find a crisis being played out in the social system as well.</p>
<p>In <a href="http://indignez-vous-indignacion.blogspot.co.uk/p/english.html">Indignez-vous (Time for Outrage)</a> Stéphane Hessel argued that people today need to become outraged at the way things are. In Britain’s ever more divided and inequitable society a new generation is outraged. Some express it by clinging to an imagined nation, while others find fundamentalism. Some turn on each other or, as in riot, the wider society. In Occupy and movements like it, we find a more progressive agenda where the very legitimacy of the neo liberal order has been brought into question.</p>
<p>Nor are they alone. There is of course the Arab Spring. But to the rioters in England let us add the rioters in the <a href="http://www.economist.com/news/europe/21572248-young-diverse-and-unemployed-forgotten-banlieues">French banlieues</a> and the young people currently rioting in Greece and Sweden. Canada too has faced unprecedented student unrest in recent years. Add to this mix the indignatos of Spain and Italy, Occupy in the USA and we are looking at indignation on a global level.</p>
<p><em>Simon Hallsworth’s book <a href="http://www.palgrave.com/products/title.aspx?pid=696075">The Gang and Beyond: Interpreting violent street worlds</a> is published this year by Palgrave Macmillan.</em></p><img src="https://counter.theconversation.com/content/15314/count.gif" alt="The Conversation" width="1" height="1" />
<p class="fine-print"><em><span>Simon Hallsworth does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.</span></em></p>Foundation essay: This article on the indignant generation by Simon Hallsworth, head of the School of Applied Social Sciences at University Campus Suffolk, is part of a series marking the launch of The…Simon Hallsworth, Professor of Sociology, University of SuffolkLicensed as Creative Commons – attribution, no derivatives.