Trebizond should teach social responsibility

After the independent student group Trebizond Investment’s now-infamous “Become the 1%” recruiting slogan appeared in Red Square last week, GUOccupy posted their reply: “And this is why we #occupy.” The exchange encapsulates a national discussion about the responsibilities inherent in investment.

In a recent interview with the Voice, Trebizond president Caspian Tavallali (SFS ‘14) stressed the group’s instructive goals “That’s why people are losing money,” he said. “That’s why we’re in a recession, because the average investor was giving their money away and didn’t really understand the investments they were investing in.” His primary concern is making sure future investors are well-versed in sound investment policy to avoid suffering losses at the hands of the market. However, if Trebizond is “educating Wall Street,” it is essential that they begin to train people in socially responsible investment.

Trebizond promotes itself through slogans like “Don’t occupy, profit.” Their aim is not to correct social ills by targeted investment. Rather, the central goal is, as their satirical banner phrased it, “Become the 1%.” In Tavallali’s view, the group is not involved in political society at all. “We don’t talk politics…we’re not a political group,” he said. “That’s for the Republicans and Democrats to debate about.” However, Trebizond should recognize that its investments exert far-reaching political influence.

Investors wield an incredible amount of influence. Their capital empowers companies to carry out their business and labor practices across the world—be they ethical or not.

Trebizond should recognize that its investments have wider implications than monetary returns. For example, casual, uninformed investment in Apple supports the questionable labor standards of FoxConn, a subcontractor that has factories in China.

Trebizond’s activities are far from apolitical. The reality of a globalised, capitalist society implicates first-world stockholders in the fates of developing countries. Investment, if conducted responsibly, can empower communities.

If aimed solely at “Becoming the 1%,” investment can easily exacerbate global and domestic inequality. Tavallali is correct in that educating the future Wall Street executives should begin on college campuses. In the spirit of cura personalis, Trebizond should rethink the primary purposes of its group, and make education in social responsibility its priority.

Correction: This article has been amended to include the correct school and year for Caspian Tavallali.