Mania's many new names are far from crazy: they'll help



Describe someone as a maniac or even as manic and the image of an erratic, wide-eyed, perhaps dangerous, individual comes to mind. Mania, however, has long been misunderstood. Mania is best considered on a continuum where many common mood fluctuations swing out of balance. The word mania comes to us from ancient Greek but its etymology is almost as muddled as its physiological origin. The Roman physician Caelius Aurelianus suggested that the word may have been derived from ania, meaning to produce great mental anguish. But he conceded that it could also have been taken from manos, meaning loose, suggesting that the illness was first defined by an apparent excess of relaxation in the mind or soul.

Arataeus of Cappadocia, a medical philosopher who spent most of his life in first century Alexandria, was the first to note the link between mania and depression, describing the condition as a form of sadness (melancholia) that transforms into excessive happiness. It wasn't until nearly two millennia later, with the birth of biomedical psychiatry and the categorisation of mental illnesses, that scientists began to advance an understanding of mania's different sides. The German psychiatrist Emil Kraepelin first described manisch-depressives irresein (manic-depressive insanity), which has survived in medical nomenclature as manic depression.

The American Psychiatric Association's latest diagnostic manual suggests several symptoms as characteristic of mania: inflated self-esteem, decreased need for sleep, more talkative than usual, increase in goal-directed activity, and my favourite, "excessive involvement in pleasurable activities that have a high potential for painful consequences". These symptoms must occur in the context of an abnormally elevated or irritable mood, and should be associated with significant impairments to social and/or occupational functioning.

Some people reading that list of symptoms may suspect they have had a manic episode, or at least a mild hypomanic one. That is the problem with categorical systems and with psychology in particular: reality is far from black and white. Manic symptoms, just like depressive symptoms, exist on a spectrum. Where different people and different cultures draw the line between disordered behaviours and normal behaviours varies considerably.

The identification of what is now called bipolar type II disorder illustrates this point. This is a form of bipolar disorder without full blown manic episodes. Instead, the sufferer experiences major depressive episodes and will also have experienced at least one hypomanic episode, characterised by an elevated mood, grandiose thinking, and rapid speech, among other symptoms. But Hagop Akiskal, a professor of psychiatry and director of the International Mood Centre based in San Diego argues that two categories of bipolar disorders aren't enough: there is a wider spectrum. This isn't just a matter for doctors to debate about at conventions - it affects how patients are be treated.

Dr Akiscal documented his clinical observation that occasionally when depression is treated with antidepressant medication it gives rise to an episode of hypomania. These individuals are also more likely to develop spontaneous episodes of mania or hypomania. He calls this Bipolar III. But he doesn't stop there. A person that is pretty much always hyper but who experiences a depressive episode is included in Bipolar IV. There is also depression with concurrent migraine, depression in the context of a familial history of mania, depression that responds to anti-manic medication, and something initially daubed "irritable hostile depression", which is pretty much it sounds like.

A categorisation of mania from "a little giddy due to lack-of-sleep" to "florid manic episode" may sound absurd, but it does help us to appreciate the everyday psychological mechanisms involved in mania. The authors Kay Jamison and Frederick Goodwin described it best: depression and mania are "magnifications of common human experience". A greater understanding of this will break down the stigma of confronting psychological problems and will also facilitate progress towards more effective therapies and interventions.

Justin Thomas is a psychologist in the department of health sciences at Zayed University in Abu Dhabi

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
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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.”

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