Money Has Been Making People Crazy Since King Midas
What do the sacred scriptures of various religions say about money? How has it evolved as a means of social control since the days of Ancient Mesopotamia? Bestselling author Kabir Sehgal talks big chunks of history and even bigger chunks of change.
Kabir Sehgal was a vice president in emerging market equities at J. P. Morgan in New York. He serves as an officer in the United States Navy Reserve, served as a speechwriter on a presidential campaign, and is a term member of the Council on Foreign Relations. He is the New York Times bestselling author of books including Coined, Walk in My Shoes (with Andrew Young), A Bucket of Blessings, and Jazzocracy. A Grammy-winning producer who has performed with Grammy-winning musicians as a jazz bassist, he co-founded an arts organization which merged with the Afro Latin Jazz Alliance. Sehgal is a graduate of Dartmouth College and the London School of Economics.
Kabir Sehgal: Historically, money has been used as a way to control other people. For example, in ancient times, ancient Mesopotamian times, it was illegal to sell your family, your wife, your son into slavery unless you were settling a debt. So what does that show us? It shows us that money can make us act very irrationally, but also very dangerously. What is slavery? Slavery is but a type of debt of controlling other people. And so what's happened over the years, over the generations, over the civilizations — the people who issue the money, they like to control the money because they realize if they can water down the value of it or they can increase the value of it, they can change people's behaviors. So as a business person it's important to realize that money is not the only thing coming to relationships, meaning that you shouldn't just value all your business leads or business contacts in terms of money because money makes us do irrational things and often selfish things in the business context.
So, in part of researching this book, I wanted to look at the idea of religions; what do different spiritual masters same about money? I mean 80 percent of what Jesus says in terms of his parables in the book of Matthew are about money. There are over 80 verses in the Koran having to do with money or wealth in some way. In Hinduism, there's four aims of life, but two of them really matter to this topic of money and one of them is called artha. Artha; what does artha mean? It means that you have to go out and make material wealth. It's okay to make wealth. It's your duty to make wealth because you have to take care of your family; you have to make a living. But the pursuit of artha, the pursuit of money will leave you yearning for more. It will leave you empty. And that will mean you'll need to go for the fourth aim of life, which is moksha, liberation from it, detachment from it. So it's the pursuit of artha that leads you to the liberation of it, which is a very nuanced and sophisticated way of looking at money. This corresponds to periods of your life. For example, when you're young and early in your life you should be trying to make money; you should be trying to take care of yourself. If you're working on Wall Street, if you're a stockbroker, it's okay to make the money. But as you leave this world, you should start to renounce from it and detach it because you certainly don't take it with you.
This could also correspond to periods of your day. In the morning you go to work; you make a living; you make some money. But when you come home, you should unplug from it. You should detach from moneymaking pursuit and try to balance your life in that way. So there's a reason across all the faiths that talk about less is more. So many of us are driven by more is better, but it's important to realize that sometimes less is more.
Is money mostly a mechanism for the powerful to control the weak? How do major world religions treat money -- in particular, the pursuit of it -- in their sacred texts?
New York Times best-selling author, investment banker, and Grammy-award winning jazz producer Kabir Sehgal returns to Big Think to chat about lessons in his book COINED: The Rich Life of Money and How Its History Has Shaped Us.
In researching his book, Sehgal traveled to 25 countries, researching the historical roots of money; our behaviors around money (just saying the word "money" stimulates different regions of our brain); and many other surprising facts about the art of money, gifts as a currency, the psychology of money, the future of money, and the rituals/customs around the world money.
The two main topics of this video are money as a tool for social control and money in religion. He explains how, ever since the days of ancient Mesopotamia, the rich and powerful were able to use money to protect their social standing. Sehgal then draws from Hindu examples to detail a common doctrine of money ethics: It's okay to pursue it, but you must liberate yourself from it.
Join Radiolab's Latif Nasser at 1pm ET on Monday as he chats with Malcolm Gladwell live on Big Think.
The Labour Economics study suggests two potential reasons for the increase: corruption and increased capacity.
Cool hand rebuke<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQyMTIyNy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NjY1NTYyOH0.0MCPKN3If94mYCNf3mMNrnTvJXjXN_bKLhgk9203EXk/img.jpg?width=917&coordinates=0%2C0%2C0%2C0&height=453" id="1627b" class="rm-shortcode" data-rm-shortcode-id="6d76421ba1ea0de4b09956b97e80c384" data-rm-shortcode-name="rebelmouse-image" />
A chart showing prison population rates (per 100,000 people) in 2018. The United States has the highest rate of incarceration in the world.
Who profits with for-profit prisons?<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="97ac37e6c7f6f22ec130ea2d56871701"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/dB78NV2WpWc?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>The Labour Economics study suggests that privately-run prisons do convicts a few favors at the moment of sentencing. However, proponents of private prisons often point to other benefits when making their case. Specifically, they argue that private prisons reduce operating costs, stimulate innovation in the correctional system, and reduce recidivism—the rate at which released prisoners are rearrested and return to prison.</p><p>In regard to recidivism, the research is mixed. <a href="https://journals.sagepub.com/doi/abs/10.1177/0011128799045001002" target="_blank">One study</a> compared roughly 400 former prisoners from Florida, 200 released from private prisons and 200 from state-run facilities. It found the private-prison cohort maintained lower rates of recidivism. However, <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1745-9133.2005.00006.x" target="_blank" rel="noopener noreferrer">another Florida study</a> found no significant rate differences. And two other studies—one from <a href="https://journals.sagepub.com/doi/abs/10.1177/0011128799045001002" target="_blank" rel="noopener noreferrer">Oklahoma</a> and another out of <a href="https://journals.sagepub.com/doi/abs/10.1177/0734016813478823" target="_blank" rel="noopener noreferrer">Minnesota</a>, both comparing much larger cohorts than the first Florida study— found that prisoners leaving private prisons had a greater risk of recidivism.</p><p>The research is also inconclusive regarding cost savings. <a href="https://www.hamiltonproject.org/assets/files/economics_of_private_prisons.pdf" target="_blank" rel="noopener noreferrer">A Hamilton Project analysis</a> noted that such comparisons are difficult because private prisons, like all private companies, are not required to release operational details. In comparing what studies were available, the authors estimate the costs to be comparable and that "in practice the primary mechanism for cost saving in private prisons is lower salaries for correctional officers"—about $7,000 less than their public peers. They add that competition-driven innovation is lacking as the three largest firms control nearly the entire market.</p><p>"We aren't saying private prisons are bad," Galinato said. "But states need to be careful with them. If your state has previous and regular issues with corruption, I wouldn't be surprised to see laws being more skewed to give longer sentences, for example. If the goal is to reduce the number of incarcerated individuals, increasing the number of private prisons may not be the way to go."</p>
What exactly does "questions are the new answers" mean?
- Traditionally, intelligence has been viewed as having all the answers. When it comes to being innovative and forward-thinking, it turns out that being able to ask the right questions is an equally valuable skill.
- The difference between the right and wrong questions is not simply in the level of difficulty. In this video, geobiologist Hope Jahren, journalist Warren Berger, experimental philosopher Jonathon Keats, and investor Tim Ferriss discuss the power of creativity and the merit in asking naive and even "dumb" questions.
- "Very often the dumb question that is sitting right there that no one seems to be asking is the smartest question you can ask," Ferriss says, adding that "not only is it the smartest, most incisive, but if you want to ask it and you're reasonably smart, I guarantee you there are other people who want to ask it but are just embarrassed to do so."
A vertical map might better represent a world dominated by China and determined by shipping routes across the iceless Arctic.
- Europe has dominated cartography for so long that its central place on the world map seems normal.
- However, as the economic centre of gravity shifts east and the climate warms up, tomorrow's map may be very different.
- Focusing on both China and Arctic shipping lanes, this vertical representation could be the world map of the future.
The world, but not as we know it<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMDU1Nzg1NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzNTkwMjIyNn0.qmQfwUdjQka8JX6q4KGANagleiuucpWay5ytMenZxUU/img.jpg?width=980" id="b95e4" class="rm-shortcode" data-rm-shortcode-id="ac088ec55c0585a93a9a310faab9a4c7" data-rm-shortcode-name="rebelmouse-image" />
A Chinese 'vertical world map,' showing the world in a different perspective from the one we're used to.
Image: Prior Probability<p>Europe is tucked away in a corner, an appendage of Asia dwarfed by neighboring Africa. North America is stood on its head, facing the rest of the world from the top of the map — cut off from South America, which cuts a solitary figure at the bottom. Africa is justifiably huge, but equally eccentric. </p><p>The eye scouts elsewhere for a place to land: not the Indian Ocean, which dominates the middle of the map, but some terra firma. Antarctica and Australia are too small, mere stepping stones for the land mass of Asia. Ultimately our gaze is drawn toward China, the lynchpin of this unfamiliar world. </p><p>Managing to leave both poles intact, this "vertical" world map is about as far away as you can get from the classic Mercator projection – which slices up both, giving center stage to a puffed-up Europe. Perhaps this new map will become more familiar soon: It may do more justice to the world of the near future, dominated by China and determined by shipping routes across the iceless Arctic. <br></p>
China's 'ten-dash line'<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMDU1Nzg1Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NTI4MzQyNn0.sBe0oFTif4Jef1vWh1kAnUylU_QMPXT5xQjm-5aA3sA/img.jpg?width=980" id="a3b81" class="rm-shortcode" data-rm-shortcode-id="80fc6e4f5c9c1c978f698be2c8de5484" data-rm-shortcode-name="rebelmouse-image" />
'China without any part left out': includes Taiwan and the islands and atolls in the South China Sea, surrounded by a ten-dash line
Image: Global Times<p>While there's no indication that this map represents the Chinese government's "official" worldview, it is no secret that China has a thing with maps – and more specifically, the country's representation on them. </p><p>In China, the country's current economic success is seen as a redress of the unequal treatment meted out by western superpowers in the 19th century. China's world dominance is a return to a more natural state of world affairs, many feel. Cartographic rectifications are a symbolically significant corollary of that sentiment.</p><p><a href="https://www.citylab.com/equity/2015/12/china-cracks-down-on-politcally-incorrect-maps/421032/" target="_blank">Fines are regularly imposed</a> on companies – domestic and foreign – that fail to represent China to the fullest extent of its external borders, disputed though they may be by others (e.g. India, Taiwan and any of the countries with claims overlapping China's in the South China Sea). But the People's Republic's cartographic obsession doesn't end at China's territory itself. It also includes the country's position on the world map. <br></p>
The Kingdom at the Middle of the World<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMDU1Nzg2MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyOTkwODEzMX0.SGrAZBH6iJVggFYSaIahzv9GvfEh17y1SwUNINbVicQ/img.jpg?width=980" id="1774c" class="rm-shortcode" data-rm-shortcode-id="99790d80a909d17a948f7c5d463d7d98" data-rm-shortcode-name="rebelmouse-image" />
Early Japanese color copy of Ricci's world map
Image: public domain<p>China's name for itself is <em>Zhōngguó</em>, which means 'Central State' or 'Middle Kingdom', reflecting its ancient self-image as the civilized center (<em>Huá</em>) of the world, with wild tribes (<em>Yí</em>) at the edge. That view is not unique to China. Vietnam, for example, at certain times also styled itself as the "central state" (<em>Trung Quóc</em>) – considering the Chinese in turn as the uncouth outsiders.</p><p>It may be surprising to recall, but Europeans themselves once considered their own continent a relative backwater, viewing Jerusalem as the true center of the world. That changed with the Age of Discovery, which placed Europe at the center of an ever-expanding world. Maps reflected that worldview, and largely continue to do so. That's why today's standard world map still has Europe at its center – with China off toward the periphery on the map's right-hand side. </p><p>The most notable feature of the very first major modern world map produced in China, the <em>Kunyu Wanguo Quantu</em> (1602), is that it places China firmly at the center of the world. Produced for the Chinese emperor by Jesuit missionary Matteo Ricci, it was the first map ever to combine that perspective with modern western knowledge: it was the first Chinese map to show the Americas, for instance. </p><p>That representation may not have taken off elsewhere, but it will be instantly recognizable to Chinese students, as it's the standard format for world maps in China's schools today.<br></p>
America on its head<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMDU1Nzg2My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwMzQ5NTc0MH0.EqadI2Yp-2dPwi3VccFZelIDK4V9t0ZOfTfHjdB6wVw/img.jpg?width=980" id="97104" class="rm-shortcode" data-rm-shortcode-id="2b66e8de389b3d736bc28e019e445cd0" data-rm-shortcode-name="rebelmouse-image" />
Upside down you turn me: North America on its head, in Chinese characters
Image: Prior Probability<p>For those used to "classic" Eurocentric world maps, Europe's marginalization may come across as a bit of an upset. America's new position on the horizontal Chinese world map is less jarring: It merely moves from the left- to the right-hand side of the picture. But then there's this vertical world map, which deals a similar blow to the American land mass: divided in two and pushed to the upper and lower edges of the map.</p><p>Unfamiliar? Sure. Shocking? Perhaps. Wrong? Not really. First off, no world map is totally right, since it's mathematically impossible to transfer the surface of a three-dimensional object onto a flat surface without some distortion. And since the world is a globe, where you center that map is a matter of purely subjective choice.<br></p><p>Those choices have historical reasons. Mercator's map was not specifically designed to put an inflated Europe at the center of the world. That was just a side effect; its main purpose was to aid shipping: Straight lines on the map correspond to straight lines sailed on the seas.</p>
By 2050, a completely melted Arctic could enable the Transpolar Passage, shortening trade routes between Asia and Europe and boosting business for Alaskan ports like Nome and Dutch Harbor.
Image: The Maritime Executive<p>The vertical world map, showing the relative proximity of China (and the rest of Asia) to Europe and (even the East Coast of) North America, has a similarly maritime <em>raison d'être</em>, or it will have by mid-century. <a href="https://www.maritime-executive.com/editorials/the-arctic-shipping-route-no-one-s-talking-about" target="_blank" rel="noopener noreferrer">Experts project</a> that by 2050 (if not sooner), the Arctic will be sufficiently ice-free to enable the so-called Transpolar Passage, i.e. shipping straight across the North Pole. </p><p>That would shave more than three weeks off a traditional sea voyage between Europe and Asia, via the Suez Canal – and even be significantly faster than other northern alternatives like the Northwest Passage (via Canada) or the Northern Sea Route (hugging the Siberian coast). Since ships would not need to go through locks or pass over shallow waters, it would also remove current restrictions on tonnage per ship. <br></p><p>The only country seriously preparing for such a future: China. None of the other Arctic powers is giving the Transpolar route any strategic thought. On the other hand, China's Arctic Policy document, released in January 2018, already matter-of-factly refers to the Transpolar route as the 'Central Passage' – one of several 'Polar Silk Roads' that China seems to want to develop. And they already have the world map to go with it.</p>
A large-scale study from King's College London explores the link between genetics and sun-seeking behaviors.
- There are a number of physical and mental health benefits to sun exposure, such as boosted vitamin D and serotonin levels and stronger bones.
- Addictions are multi-step conditions that, by definition, require exposure to the addictive agent and have also been proven to have a genetic factor. Countless people are exposed to addictive things, but not all become addicted. This is because of the genetic component of addiction.
- This large-scale study explores the link between sun-seeking behaviors and the genetic markers for addiction.
The benefits of sunlight<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQyMjI1Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzNzk0NDUxNH0.lbYbZidJkNXPUcWM6m8cucuzAFOANkqPaIVfJdqkJ4Q/img.jpg?width=1245&coordinates=0%2C52%2C0%2C52&height=700" id="d5fcd" class="rm-shortcode" data-rm-shortcode-id="f44fcc9a31393c8102803eb50d01a19a" data-rm-shortcode-name="rebelmouse-image" alt="woman sitting on dock in the sunlight" />
The mental and physical health benefits of sunlight have been heavily researched.
Credit: eldar nurkovic on Shutterstock<p>The benefits of sunlight have been widely discussed for many years. In fact, there are a number of physical and mental health benefits to sun exposure.</p><p><strong>Sunshine (and the lack of) impacts your hormone levels. </strong></p><p>Sunlight (and alternatively, the lack of sunlight) triggers the release of certain hormones in your brain. Exposure to sunlight is thought to increase serotonin, which is associated with boosting your mood and helping you feel calm and focused. </p><p>Alternatively, dark lighting triggers melatonin, a hormone that is helpful in allowing you to rest and fall asleep. Without enough sunlight, your serotonin levels can dip - and low serotonin levels have been associated with a higher risk of major depression with seasonal pattern (formerly known as seasonal affective disorder).</p><p><strong>Sunlight can build strong bones. </strong></p><p>Exposure to the ultraviolet-B radiation in the sun's rays can interact with your skin, causing it to create vitamin D. <a href="https://www.nhs.uk/conditions/vitamins-and-minerals/vitamin-d/" target="_blank" rel="noopener noreferrer">According to NHS</a>, vitamin D helps regulate the amount of calcium and phosphate in the body. A lack of vitamin D can lead to bone deformities or bone pain. <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2290997/" target="_blank" rel="noopener noreferrer">A 2008 study</a> has shown that even 30 minutes in sunlight (while wearing a bathing suit) can boost vitamin D levels. </p><p><strong>Can sunlight actually prevent cancer? </strong></p><p>Although heavy exposure to sunlight has been proven to contribute to certain skin cancers, a moderate amount of sunlight has actually been shown to have preventative benefits.</p><p><a href="https://cjasn.asnjournals.org/content/3/5/1548.full" target="_blank" rel="noopener noreferrer">According to a 2008 study</a> from the Clinical Journal of the American Society of Nephrology, those who live in areas with fewer daylight hours are more likely to have some specific cancers (including but not limited to colon cancer, ovarian cancer, and prostate cancer) than those who live in areas with increased daylight hours.</p><p><strong>Additionally, sunlight has been shown to help people with skin conditions such as psoriasis. </strong></p><p><a href="http://www.who.int/uv/faq/uvhealtfac/en/index1.html" target="_blank" rel="noopener noreferrer">According to the World Health Organization</a>, sun exposure may also be able to help treat skin conditions such as psoriasis, eczema, jaundice, and acne. <a href="https://www.healthline.com/health/depression/benefits-sunlight#benefits" target="_blank" rel="noopener noreferrer">Some research</a> has also indicated the sun benefits people who struggle with rheumatoid arthritis (RA), systemic lupus erythematosus, and inflammatory bowel disease. </p>
Can you be addicted to the sun?<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQyMjI1Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwMzE5NTMwOX0.pHOWSr3FcIndYkBAVND1UsD8AheTQmxsePKRi3XvYTw/img.jpg?width=1245&coordinates=31%2C0%2C32%2C0&height=700" id="93c87" class="rm-shortcode" data-rm-shortcode-id="384e08fdcd535ed2b792eef419af9e2c" data-rm-shortcode-name="rebelmouse-image" alt="hands holding up the sun" />
The large-scale study examines the link between addiction and sunlight, with some surprising results...
Credit: KieferPix on Shutterstock<p>Addictions are multi-step conditions that, by definition, require exposure to the addictive agent. Due to the increase of serotonin (a chemical in the human body <a href="https://www.healthline.com/health/mental-health/serotonin" target="_blank">that has been proven</a> to help reduce depression, regulate anxiety, and maintain bone health), it's natural that being exposed to prolonged periods of sunlight could become somewhat addictive to the human body and mind. We crave things that make us feel good, and sometimes those cravings become something we depend on. This is the very nature of addiction.</p><p>Countless people are exposed to addictive things (substances, medications, and yes, even the sun), but not all become addicted. This is because of the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3506170/" target="_blank" rel="noopener noreferrer">genetic component of addiction</a>. </p><p>A large-scale study from King's College in London examines more than 260,000 people to better understand how sun-seeking behavior in humans can be linked to genes involving addiction, behavior traits, and brain function. </p><p><strong>The study included two phases:</strong></p><p>Phase one suggested genetics play a role in sun-seeking behaviors and phase 2 helped pinpoint what those genetic markers are.</p><p>Phase 1: The researchers studied the detailed health information of 2,500 twins, including their sun-seeking behavior and their genetics. Identical twins in a pair were more likely to have similar sun-seeking behavior than non-identical twins, indicating that genetics plays a role here. </p><p>Phase 2: The team of researchers then were able to identify five key gene markers involved in this sun-seeking behavior from further analysis of 260,000 participants. Some of the genes indicated have been linked to behaviors traits that are associated with risk-taking and addiction (including smoking and alcohol consumption).</p><p><strong>What does this study really prove? </strong></p><p>Some may think it's natural to become addicted to something that makes you feel good. The physical and mental health benefits of the outdoors have been heavily studied...so what does this study really mean? </p><p>First and foremost, it means more research needs to be done to examine the link between human conditions and exposure to sunlight. Senior author Dr. Mario Falchi explains to the <a href="https://www.kcl.ac.uk/news/addicted-to-the-sun-its-in-your-genes" target="_blank">King's College London News Center</a>: "Our results suggest that tackling excessive sun exposure or use of tanning beds might be more challenging than expected, as it is influenced by genetic factors. It is important for the public to be aware of this predisposition, as it could make people more mindful of their behavior and the potential harms of excessive sun exposure."</p><p>Additionally, it could mean alternative treatments, and further research needs to be conducted in terms of how we treat certain conditions that are caused or heavily influenced by human exposure to sunlight. </p>