What does guilt look like? While trolling Twitter this morning, we spotted it on this puppy. Image via The Dodo
The weekly "guilt hour."
[credit provider=”flickr/poptech” url=”http://www.flickr.com/photos/poptech/6266901996/sizes/l/in/photostream/”] At the end of the day, business is all about incentives and thinking about the way people act.Understanding what motivates people is the basis for a huge field of research — behavioural economics — which can be applied to situations that extend well beyond the business world.
Reminding people of their transgressions causes them to improve their behaviour:
I felt bad about how I mentioned the other day about Yitz Grossman going to jail. Someone wrote me afterwards and said I got the facts all wrong and that Yitz was one of the most generous, charitable people he knew. Yitz helped me sell my first company back in […]
[credit provider=”HFODD” url=”http://hedgefundoperationalduediligence.com/galleon-rap/”] A hedge fund trader that’s been accused of insider trading in connection to the Galleon ring, rejected a plea deal that would have seen him spend 0 hours in jail.Michael Kimelman is so “sure of innocence” that he turned down the government’s offer of probation, in return […]
[credit provider=”The Smoking Gun” url=”http://rss.thesmokinggun.com/buster/fbi/meet-donald-longueuil-speed-skater-turned-accused-inside-tradermidnight-rambler”] Donald Longueuil, the former SAC Capital PM accused of insider trading and obstruction of justice, will enter a guilty plea on those charges today, according to Bloomberg.Originally Longueuil had pleaded not guilty to the charges, but in a hearing yesterday Assistant U.S. Attorney David Leibowitz […]
Clearly there are still people with money. But as one rich person—with lots of money in the bank, and gold bars in the basement—told me yesterday austerity is the new spendy. She has the money but just feels guilty spending it, when others are poor.