The Psychology Behind Corporate Greed: Lessons from Bernie Madoff’s Ponzi Scheme
In today’s episode, we continue with last week’s conversation and study one of the most infamous cases of corporate greed—Bernie Madoff’s Ponzi scheme. Madoff defrauded investors of billions of dollars, leaving thousands in financial ruin.
We’ll explore the psychological and evolutionary factors that allow leaders like Madoff to manipulate entire systems for personal gain. Through the lens of evolutionary psychology, you’ll learn about how cognitive biases affect leadership selection.
You’ll also discover how adaptations for dominance lead to unethical leadership and why unchecked power fosters corporate greed. Listen to the full episode for a thorough examination of how greed and power can corrupt even the most reputable leaders.
In this episode:
- The infamous Bernie Madoff scheme
- Psychological mechanisms behind Madoff’s manipulation
- Evolved cognitive biases in leadership
- Short-term vs long-term gain bias
- Psychological adaptations for dominance
- Machiavellian leadership and manipulation
- Power and corruption in leadership
- Final thoughts on corporate greed and reflections on leadership
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Resources Mentioned in the Episode:
- The Evolutionary Psychology Of Leadership: Theory, Review, And Roadmap: https://journals.sagepub.com/doi/abs/10.1177/2041386613493635
- Begin with Trust, Harvard Business Review, 2018: https://hbr.org/2020/05/begin-with-trust
