Learning right and wrong


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It turns out she knows right from wrong after all. I was going to give Astrid a few years to get to know the rules. I was prepared to cut her some slack during infancy and early childhood, but the results of a new study by researchers at Yale University point to the tantalising notion that babies are, in fact, moral beings. I'd always figured these cute and burbling creatures were blank canvases as far as good and evil were concerned. I bowed to the opinions of psychologists, including renowned names such as Sigmund Freud and Jean Piaget, on this matter. Babies are born without morals, I believed, but as they grow up, they learn principles of right or wrong behaviour from all sorts of places. Parents play the most important role in this process, but relatives and peers also have an influence. That's the consensus, until now at least. The new study seems to counter prevailing thought by suggesting that babies could have an innate, perhaps even instinctive, sense of right and wrong.

When you think about it, the lack of language seems an almost insurmountable problem in experiments with babies. I find Astrid veers between being as inscrutable as a card shark to being as open as 24-hour grocery shop. One moment I think I get an inkling of what she is thinking, while the next I cannot even hope to speculate. Without the aid of language, how did the researchers reach their remarkable conclusions?

Since the 1980s, scientists have been using "looking time" experiments to gain insights into the workings of the infant brain. According to this methodology, you can discern what a baby is thinking by watching how his or her eyes move in response to particular stimuli. Show a baby something that they expect to see and his or her gaze will wander. Show a baby something that surprises them and he or she will peer more intently. This basic test has been adapted in various ways to tease out what babies know about the world from physics and psychology. Now it has been adapted to questions of morality.

In a series of experiments involving role-play scenes with different coloured shapes playing good and bad characters, babies between six months and 10 months old consistently favoured the good characters and shunned the bad characters. Similar experiments involving good and bad characters played by puppets confirmed these conclusions. They point to some kind of primitive morality being present in babies from birth. It may only be a kernel of the complex system that develops through cultural influence over a lifetime. Perhaps kernel is the wrong word. After all, there's no reason to assume that this primitive morality always conforms to the codes of a particular society or culture. Nevertheless, babies have some concept of good and bad.

The nuanced and complex moral codes that have come to define us as human beings seem impossible without language. We only become creatures capable of remarkable generosity and inflicting profound suffering when we can define those actions and realise that we are actually doing something that is right or wrong. The lack of language does not alter the actual event - of course the outcomes and consequences of a good or bad act remain unchanged - but it does change our judgement of those actions.

As John Berger writes: "Evil begins ... with the human capacity to talk oneself into [inhuman acts]." Discovering some kind of naive morality in babies is a surprising - deserving if you will of some extra "looking time" - but it does not necessarily contradict establish views of how morality develops.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fireball

Moscow claimed it hit the largest military fuel storage facility in Ukraine, triggering a huge fireball at the site.

A plume of black smoke rose from a fuel storage facility in the village of Kalynivka outside Kyiv on Friday after Russia said it had destroyed the military site with Kalibr cruise missiles.

"On the evening of March 24, Kalibr high-precision sea-based cruise missiles attacked a fuel base in the village of Kalynivka near Kyiv," the Russian defence ministry said in a statement.

Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.

If you go

The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.