Martin Schürz

Head of Monetary Unit, Economic Analysis Division, Oesterreichische Nationalbank, Vienna

Albert Hirschman Visiting Fellow
(September – November 2017)


Vices and Virtues of the Rich—Emotional Legitimations of Wealth Concentration

My time at the IWM will be dedicated to work on a book manuscript that discusses  the manifold roles that emotions play in legitimizing the massive inequality of wealth that characterizes contemporary democracies. Emotions–either hidden or displayed openly–influence political and social discourses on wealth concentration. Charity and greed, envy and compassion, anger and shame all influence social perceptions of injustice. And some of these emotions stabilize existing levels of extreme wealth concentration.