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The Driving Force of Free Markets Is Empathy, Not Greed

Both capitalists and anti-capitalists frequently accuse capitalism of being a system driven by selfishness and greed. Capitalism’s defenders sometimes say: “By nature, man is selfish, which is why socialism will never work. Capitalism better reflects the fundamental characteristics of human nature.” Anti-capitalists claim that capitalism promotes the worst characteristics in man, especially greed.

But are greed and unbridled selfishness really the driving forces of capitalism? Human self-interest is one—not the only—driving force of all human action. But this has nothing to do with a particular economic system. Rather, it is an anthropological constant. In capitalism, however, this self-interest is curbed by the fact that only the entrepreneur who prioritizes other people’s needs can be successful.

There is overwhelming evidence to suggest that empathy, rather than greed, is the true driving force of capitalism. Empathy is the ability to recognize and understand another person’s feelings and motives, and this is the most important characteristic of successful entrepreneurs.

Take Steve Jobs as an example. He came up with the iPhone and other products because he understood modern consumers’ needs and desires better than anyone else. Under capitalism, consumers can (and do) punish companies that behave selfishly and lose sight of the needs of their customers.

The same applies to Mark Zuckerberg, today one of the world’s richest people. He created Facebook because he knew better than other entrepreneurs what people wanted. Like all successful entrepreneurs, it was consumers who made Steve Jobs and Mark Zuckerberg so rich.For many years, the Albrecht brothers were the richest people in Germany. They earned their fortunes from the food discounter Aldi, which was founded on the principle of offering good quality products at very reasonable prices. This was the same recipe for success followed by Sam Walton, the founder of Walmart, who was consistently one of the richest people in the United States.

Consumers’ purchasing decisions confirm that Jobs, Zuckerberg, the Albrecht brothers, and Sam Walton had correctly understood their customers’ desires, needs, and emotions.

Of course, under the capitalist system, there are also examples of companies that have acted selfishly and lost sight of the wants and needs of consumers.

One example is Deutsche Bank, which has faced thousands of lawsuits. Such companies are punished under capitalism, not only by the law but far more so by the market. Deutsche Bank lost its position as one of the world’s leading banks because it put the interests of its investment bankers above those of its customers and shareholders.

Even companies that appear omnipotent today, such as Google or Facebook, will not retain their power forever.

A company’s most important asset is its image, and companies that behave like Deutsche Bank end up incurring massive damage to their images and reputations; their customers lose confidence and flock to their competitors.

In socialist systems, on the other hand, consumers are powerless and at the mercy of state-owned companies. If a state enterprise acts with no regard for the needs of consumers, they have no alternative under socialism because there is no competition.

Under capitalism, consumers can (and do) punish companies that behave selfishly and lose sight of the needs of their customers. Every day, customers vote on the company with their wallets—by buying its products or not.

Monopolies under capitalism are a temporary phenomenon. Even companies that appear omnipotent will eventually be ousted by new competitors as soon as they overreach their power and lose sight of their customers’ needs.

Ever since capitalism has existed, anti-capitalists have criticized the system’s inherent tendency to create monopolies. Lenin wrote over 100 years ago that imperialism and monopoly capitalism are the last stages of capitalism. But the monopolies he criticized at the time no longer exist. Even companies that appear omnipotent today, such as Google or Facebook, will not retain their power forever. Other companies and ambitious young entrepreneurs will seize the opportunity as soon as Google or Facebook starts to act too selfishly.

What is strange is that socialists who criticize capitalism for its tendency to form monopolies are in favor of state-owned companies. After all, the state is the most powerful monopolist of all, with the ability to brutally trample on the needs and wishes of its citizens through its means of coercion and because there are no alternatives for the customer.

The fact that people and companies pursue their own interests is the same in every society. This is not a specific feature of capitalism.

Under capitalism, though, only those entrepreneurs and companies who prioritize their customers’ interests rather than their own self-interest will achieve success in the long-term. Companies that fail to understand and respect what consumers want will lose market share and may even disappear entirely as they are driven out by other companies that better meet their customers’ needs.

Empathy, the ability to recognize the desires and needs of others, is the true basis of capitalism—not unbridled greed and selfishness.

Source: The Driving Force of Free Markets Is Empathy, Not Greed

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Workplace diversity creates a business better suited to meet its goals. Through Eudaimonia and acceptance of differences, empathy is a path to business success. Matthew Gonnering is the CEO of Widen, a marketing technology company founded in 1948. Blessed to work with highly intelligent, playful, self-starting Wideneers, Matthew has reshaped his role into “Chief Eudaimonia Officer.” His mission is to create happiness, health and prosperity for his colleagues, customers and community. Matthew joined Widen in 2000 and became CEO in 2009. His team solves marketing and creative problems with digital asset management (DAM) software. Under Matthew’s leadership, Widen has become a WorldBlu Freedom-Centered Workplace™ and a Madison Magazine Best Place to Work. His ongoing commitment to faith, family, education, and nonprofit work shape his desire to ground organizational culture in humanity. Matthew and his beautiful wife Sarah have five energetic children and reside in the Madison area. He lives a eudaimonious life and encourages others to do the same. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx

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Personalize The eLearning Experience Through A Culture Of Empathy

personalize-elearning-experience-culture-empathy

How Empathy Can Enable A Personalized eLearning Experience: Having empathy and understanding what empathy is, means that you have the ability to see the world through the eyes of another and understand and share their feelings. Lots of people have the capacity to empathize. You could say it’s in our nature, allowing us to build prosperous relationships amongst various societies. To paraphrase Daniel H. Pink, successful people in this age of information overload will be those who can understand their peers and care for them. Empathy is the ability to step into another person’s shoes and experience their feelings. Empathy is not a standalone concept.

  1. The design should be from a user’s perspective to anticipate their problems and come up with a product/service that helps.
  2. Stories are the path to understanding.

Empathy In Learning

For learning to be empathetic, it has to understand the learners’ mindset, working environment, challenges and factor them in to offer a solution. It should build a personal connection with them.

This is how it can be done in eLearning:

  • Personalize the learning experience
  • Offer simple and open navigation
  • Reinforce knowledge with diagnostic feedback

Personalize The Learning Experience

This isn’t rocket science. Ask for the learner’s name at the start of the course and use it to address them periodically for the assessments, while sharing tips or summarizing the key points. This will build a connection between the learner and the course. Offering additional resources in multiple formats will give learners the flexibility of accessing the one in their preferred format. For example, do you need to offer a glossary of terms? Offer learners links to a PDF, a podcast, and an infographic. Use ice breakers that list learners’ common challenges or the questions they might have. Seeing their issues in the course will build an immediate rapport and give the assurance that their concerns are being addressed allaying fear.

Offer Simple And Open Navigation

Adults are self-directed and dislike being restricted in their learning. An effective eLearning course gives them the option to access the sections of the course they are interested in, instead of forcing them to go through the entire course. Put yourselves in the learners’ shoes and empathize. You surely wouldn’t want to look for a needle in a haystack!

Some tips to ensure a memorable learning experience:

  1. Structure the course into well-defined sections, each covering one learning point completely so that learners don’t have to scramble around different sections for one topic.
  2. Ensure navigation is easy to use, with a simple, well-labeled menu (learners shouldn’t need to access the Help screen to figure out how to use the menu).
  3. Ensure screen titles in the menu are of the same length and parallel in structure.
  4. For interactivities, let learners proceed to the next slide if they wish to without forcing them to visit all sections.
  5. Provide links to additional resources in the Resources section, rather than in individual slides, so that they are available throughout the course.

Reinforce Knowledge With Diagnostic Feedback

Feedback can be an extremely useful mechanism to close the learning cycle and show them the big picture, yet again. Instead of feedback that just says, “You are right” or “Sorry, you are wrong,” invest a little in offering feedback that’s true to its name. Feedback should tell learners why they are either right or wrong, along with the reasons. Informative assessments, give learners a detailed explanation about why a particular choice is correct or incorrect. In summative assessments, once done, give them the option of revisiting the slide where the learning point was discussed.

  • Authoring tools now give the flexibility of including audio, video clips, and hyperlinks along with the text.
  • Leverage these elements to offer learners a detailed explanation on the topic, along with related resources.

Being empathetic and having empathy matters. Learn about how to utilize the ability to step into another person’s shoes and experience their feelings by downloading this free eBook: “eLearning Design And The ‘Right’ Brain.” It will further help you become a ‘Right’ brain expert; and, moreover, learn how its role in learning can be of use to you.

Photo of Sushmitha Kolagani

 

By: Sushmitha Kolagani

 

Source: https://elearningindustry.com/

In a fractured world, can we hack our own sense of empathy and get others to become more empathic? Professor, Department of Psychology, Stanford University Jamil Zaki is an assistant professor of psychology at Stanford University. His research examines social cognition and behavior, especially how people understand and respond to each other’s emotions. This work spans a number of domains, social influence, prosocial behavior, and especially empathy (see ssnl.stanford.edu for details). In addition to studying the mechanics of empathy, Dr. Zaki’s work focuses on helping people empathize better. For instance, new research from his lab examines how to encourage empathy for people from distant political and ethnic groups, and also how caregivers and healthcare professionals can effectively empathize with their patients while maintaining their own well being. http://ssnl.stanford.edu ~~~ This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

The Power of Empathy in the Workplace

We’ve all had those moments of pure attention, when it seems everyone in the room is attracted to your energy. Yet for many of us, that place is difficult to tap into. Your mind races with nervousness about something previously said and you worry about what to say next, each distraction lessening the power of your interaction.

The key to success in these moments is empathy. This ability to understand and relate to others is a powerful skill that takes work, but in mastering it, you can better both your personal and professional interactions.

Related: Use these five elements of psychology to improve your writing.

The Power of Empathy

Empathy is about establishing trust by outwardly recognizing what someone else is experiencing. It’s difficult for people to fully engage in any interaction if they don’t feel that they are being heard and understood.

Think about how free and open your interactions are with close friends and family. Your conversations are super productive because you have each freed yourself to fully engage.

However, at work or in our other day-to-day interactions, we are naturally cautious. We withhold information, we don’t ask the tough questions, and it’s much harder to make decisions or resolve issues. That generally leads to subpar outcomes.

Four Steps for Practicing Empathy

1. Observe: Pay attention to voice, tone, body language, and the situation.
2. Listen: What feelings and emotions are being conveyed?
3. Interpret: What needs are behind those feelings and emotions?
4. Share: Openly state what you think you understand about the other person and ask for feedback to make sure you’re right.

Straightforward, right? Not exactly.

Why Listening is Scientifically a Struggle

Being a good empathizer is largely connected with being a good listener.

Chris Voss, former FBI negotiator and author of Never Split the Difference: Negotiating As If Your Life Depended On It, explains that it’s a struggle to focus in attentive moments because listening is far from a passive activity. It is the most active thing you can do, and empathetic listening can power some of the most fundamental functions of your workplace.

If you struggle with listening, you are not alone. Renowned author and journalist Michael Pollan examined this difficulty in his recent book, How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression and Transcendence.

Pollan found that a major area of the brain known as the default mode network (DMN), which acts as an overseer keeping brain operations in check, is most likely the very operator that makes active listening so difficult.

How the DMN Works

The DMN is what kicks in when you have nothing to do. And it seems to be responsible for the construction of what we call the self or ego. It’s all that noise that comes pouring in when you’re in idle; the flood of thoughts about the past and future and myriad distractions that we often feel powerless to overcome. It can become who we are. It also leads to rumination and self-referential thinking, which is not conducive to empathy.

The DMN is powerful, but you are not powerless to resist it. Attention, focus, and active listening help quiet the ego, allowing you more effective listening.

Try this: Consistent meditation, even just 10 minutes a day, has been shown to decrease activity in the DMN, which then leads to better empathy.

Practicing Empathy in the Workplace

Empathy in the workplace is something I encourage the team at D Custom to actively practice. Here are some of the things it can power.

Empathy and Negotiating

While Voss’ FBI negotiations might not be the first place your mind goes in wondering where and how empathy might be better understood and applied, it is paramount in their field. As he notes, when preparing for a negotiation, it’s more important to concentrate on demeanor and state of mind rather than what you will say or do. This is empathy in all its glory.

Empathy and Trust

Empathy establishes trust, and establishing trust enables more productive working relationships. By practicing empathy in the workplace, you will expose goals and concerns more readily. And you cannot resolve issues until that comes from both sides.

Implementing empathy to build trust starts with recognizing people’s fears and validating them without passing judgment or offering a solution. If you do that in a consistent way as a team member or leader, you will get all manner of engagement from your team.

Empathy and Creativity

Empathy is about a genuine connection, and active listening is a gateway to thoughtful collaboration. Ideas come to light in a creative environment, and an attentive approach helps increase input so much that possibilities expand in a way they would not have otherwise.

Empathy can be a force for powerful relationships. From persuading groups to negotiating with terrorists to growing a fruitful community of coworkers, empathy emerges as an imminent provider of success. It’s wired into our psychology to the point that we can’t resist it. So be present and empathy will follow. From that, the possibilities are boundless.

By Paul Buckley

Source: The Power of Empathy in the Workplace | D Custom

 

How empathy can help you create a better work culture

Empathy is one of those things that can help in any part of life whether it’s your family, friends, that special person and even also at work. Understanding what empathy is and how it effects people took me long time. I struggle with human interactions and I am not ashamed to admit it, so I wanted to share my experience, as to what I have found from all of it…….

Source: How empathy can help you create a better work culture

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Empathy Technologies Like VR, AR & Social Media Can Transform Education – Jennifer Carolan

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In The Better Angels of Our Nature, Harvard psychologist Steven Pinker makes the case for reading as a “technology for perspective-taking” that has the capacity to not only evoke people’s empathy but also expand it. “The power of literacy,” as he argues “get[s] people in the habit of straying from their parochial vantage points” while “creating a hothouse for new ideas about moral values and the social order……..

Read more: https://techcrunch.com/2018/04/22/empathy-technologies-like-vr-ar-and-social-media-can-transform-education/?_scpsug=crawled,5589,en_-08GtGMBhGHHyg2UGQFp

 

 

 

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