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Social and Behavioral Sciences Commons

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Economics

Central Washington University

Financial crisis

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Shin-Gate: Misunderstanding The Power Of Shame In South Korea, Koushik Ghosh Jan 2010

Shin-Gate: Misunderstanding The Power Of Shame In South Korea, Koushik Ghosh

All Faculty Scholarship for the College of Business

Shame is not perceived the same way in different cultures, nor is it used the same way. How does that difference across cultures influence our interactions in public space? How does it affect our business interactions? It has been argued, especially in the wake of Asia’s financial crisis in 1997, that there was a lack of shame in Asian cultures aft er the economic crash. The same kind of argument has been presented in the United States following the financial crisis which began in 2008. President Obama has tried to shame the Wall Street crowd. Economic commentators have spoken of …