In this study the relation between virtualization and shamelessness is examined by investigating the banking crisis of 2008. Shame, it is held, is crucial to our self-development and our relation...Show moreIn this study the relation between virtualization and shamelessness is examined by investigating the banking crisis of 2008. Shame, it is held, is crucial to our self-development and our relation with others because, besides the negative self-evaluation it is commonly known for, shame also encompasses a strong personal involvement. After investigating the financial crisis of 2008 it is found that the financial sector is characterized by the convergence of a high reliance on virtual systems as well as an inability to feel shame. To further study the effect of virtualization on shame, three necessary conditions for shame are proposed based on the work of Kierkegaard, Merleau-Ponty, and Sartre: integrity, embodiment, and responsibility. By examining the effect of virtualization on these three necessary conditions I arrive at a general conclusion about the effect of virtualization on our ability to feel shame. The final section expands the scope of these findings to see whether the found effect of virtualization on shame can be noticed in other social spheres that are gradually becoming more virtual.Show less
