How is it that successful business men, bankers, and other financial leaders caused the financial crises. Is it a personality disorder? Or is it hubris? A new term not familiar to me. Look at this short talk by Lord Owen about personality, personality disorder and hubris. This interview stems from a meeting to mark the publication of a report. The report “Did Anyone Learn Anything From Equitable Life?”, was presented at King’s College on 7 September 2012. Lord David Owen said that it is essential more research is carried out into hubris in Chief Executives and this is now being assessed by the Daedalus Trust.
Hubris may be developed after a person encounters a period of success. Corporate executives and traders overcome by hubris may become a liability for their firms. A manager might start making business decisions without fully thinking through the consequences, or a trader may begin taking on excessive risk. In many cases, people overcome by hubris will bring about their own downfall.
Thanks The Psychiatrist blog, author: Dr Michelle Tempest, psychiatrist and editor of The Future of the NHS.