The trolls we despise are our own creation

To kill off the poisonous notions of celebrity, we have to stop giving it our attention and act civilly to each other.

It’s easy to mock Paris Hilton.

She is the scarecrow that embodies everything we use to keep our morals flapping above the fields of indignity. With celebrity culture, the glitz of Hollywood has lit up long dormant beasts in each of us: because they’re on the big screen, they’re deserving of our vitriol, of our scorn. But we no longer direct rotten fruit at them, but rotten terms: Too fat, too skinny, cheater, liar, weirdo, skank, whore, drug addict, stupid, bimbo, loser, airhead, meaningless. Terms most of us left in the schoolyard, replacing them with conduct catered to civility and, indeed, common decency, are somehow allowed rebirth and fruition to be used at these idols of our indulgences, these effigies to narcissism.

Yet, those of us who casually and so easily mock the failings of young women we do not know, or largely harmless men with admittedly weird religions, are also quick to shake our fists and heads at rude online comments and bizarre blog threads; we are outraged at the targeting of people for making the mistake of, for example, reviewing technology or being a woman and having an open comment thread on the internet.

When we turn off the screen, a black monitor greets us with a darkened face and we have an answer. Do we even realise the casualness with which we dismiss celebrities as idiots, bimbos, wash-ups, has-beens, irrelevant? This ignorance on our part of targeting people who are, in fact, complete strangers – just more famous ones than online writers – is itself part of the problem. We’ve casually allowed for this environment of trolling, of harassment, because so many of us do it. We’ve built a culture of mockery, a religion of ridicule, where we drink the spirits of vitriol down parched throats, raw from directed anger. And we wonder where these ‘new’ beasts come from.

We created them. We’ve produced an environment where people like Charlotte Dawson attempt suicide because strangers on Twitter had direct access to someone they’d otherwise never be able to reach. Technology may be bringing us together, but no one ought to assume this is always a good thing. Celebrities and people on television have always been the target of casual hatred, of comments that dismiss them as persons with actual emotions, instead of entities flickering on a screen, or smiling from a glossy magazine; all that’s changed is Twitter and blogs and forums have allowed us to air talk that would’ve quickly evaporated at dinners and barbeques into a permanent format: often in ways allowing us to aim our hate directly at the celebrity in question, as with Dawson.

We like to think we’re better than celebrities: these entities with no emotions, these scarecrows of our own design, with the expensive smiles and poor judgements. They’re not real like our friends, our lovers, our families, we think, they exist in some other world beyond our mere mortal grasp. While this is true to some extent, it’s no reason to treat them with casual hatred and quick dismissals: if we really are better than them, surely that means we should demonstrate it, in not allowing even casual hatred to be a property we have. It’s easy to create scarecrows from the threads the screen provides, from the weird behaviour picked apart by gossip columnists, by the tiny increase in bulges etched into eternity by paparazzi; it’s much harder to fight against this machine that manufactures celebrities out of ordinary people, fed by screaming passion of voyeuristic indulgence.

In a global society increasingly growing weary of gods, we’ve become lax to a religion that creates them all the time, demanding the sacrifice of our decency.

There are multiple ways to make places like the internet and society in general a space in which adult discussion can occur. There are ways to combat the influence pundits, who sprout fallacies and untruths, have on political discourse in the most powerful countries in the world. One way is to grow a stable foundation of our own discourse. It’s to reclaim civility in a consistent way. It’s to say we’re better than this, we’re better than the hype machine, we’re better than the trolls.

There will always be strange people doing harmless things, always be celebrities who say nonsense like Paris Hilton and her homophobic ideas; but our passion and our anger are better served elsewhere than on strangers – no matter how big-named they are.

Celebrity does not imply talent. Celebrity is only made by attention. We should start killing the notion of "celebrity", replacing it with actual talent, actual ability. But to do that requires us to stop giving attention, to stop hurting our own humanity as moral beings: we’ve got to act civil – ie read and engage charitably, begin with some measure of respect, until such time as interlocutors do not reciprocate or demonstrate deserving of it, and so on. 

If we can’t even maintain a modicum of respect for a rather harmless young woman like Paris Hilton, is it any wonder we fail in facilitating proper dialogue on important matters with our opponents?

Paris Hilton: a celebrity we created. Photograph: Getty Images
Ralph Orlowski / Getty
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Labour's investment bank plan could help fix our damaging financial system

The UK should learn from the success of a similar project in Germany.

Labour’s election manifesto has proved controversial, with the Tories and the right-wing media claiming it would take us back to the 1970s. But it contains at least one excellent idea which is certainly not out-dated and which would in fact help to address a key problem in our post-financial-crisis world.

Even setting aside the damage wrought by the 2008 crash, it’s clear the UK’s financial sector is not serving the real economy. The New Economics Foundation recently revealed that fewer than 10% of the total stock of UK bank loans are to non-financial and non-real estate businesses. The majority of their lending goes to other financial sector firms, insurance and pension funds, consumer finance, and commercial real estate.

Labour’s proposed UK Investment Bank would be a welcome antidote to a financial system that is too often damaging or simply useless. There are many successful examples of public development banks in the world’s fastest-growing economies, such as China and Korea. However, the UK can look closer to home for a suitable model: the KfW in Germany (not exactly a country known for ‘disastrous socialist policies’). With assets of over 500bn, the KfW is the world’s largest state-owned development bank when its size is measured as a percentage of GDP, and it is an institution from which the UK can draw much-needed lessons if it wishes to create a financial system more beneficial to the real economy.

Where does the money come from? Although KfW’s initial paid-up capital stems purely from public sources, it currently funds itself mainly through borrowing cheaply on the international capital markets with a federal government guarantee,  AA+ rating, and safe haven status for its public securities. With its own high ratings, the UK could easily follow this model, allowing its bank to borrow very cheaply. These activities would not add to the long-run public debt either: by definition an investment bank would invest in projects that would stimulate growth.

Aside from the obviously countercyclical role KfW played during the financial crisis, ramping up total business volume by over 40 per cent between 2007 and 2011 while UK banks became risk averse and caused a credit crunch, it also plays an important part in financing key sectors of the real economy that would otherwise have trouble accessing funds. This includes investment in research and innovation, and special programs for SMEs. Thanks to KfW, as well as an extensive network of regional and savings banks, fewer German SMEs report access to finance as a major problem than in comparator Euro area countries.

The Conservatives have talked a great deal about the need to rebalance the UK economy towards manufacturing. However, a real industrial policy needs more than just empty rhetoric: it needs finance. The KfW has historically played an important role in promoting German manufacturing, both at home and abroad, and to this day continues to provide finance to encourage the export of high-value-added German products

KfW works by on-lending most of its funds through the private banking system. This means that far from being the equivalent of a nationalisation, a public development bank can coexist without competing with the rest of the financial system. Like the UK, Germany has its share of large investment banks, some of which have caused massive instabilities. It is important to note that the establishment of a public bank would not have a negative effect on existing private banks, because in the short term, the UK will remain heavily dependent on financial services.

The main problem with Labour’s proposal is therefore not that too much of the financial sector will be publicly owned, but too little. Its proposed lending volume of £250bn over 10 years is small compared to the KfW’s total financing commitments of  750 billion over the past 10 years. Although the proposal is better than nothing, in order to be effective a public development bank will need to have sufficient scale.

Finally, although Brexit might make it marginally easier to establish the UK Investment Bank, because the country would no longer be constrained by EU State Aid Rules or the Maastricht criteria, it is worth remembering that KfW’s sizeable range of activities is perfectly legal under current EU rules.

So Europe cannot be blamed for holding back UK financial sector reform to date - the problem is simply a lack of political will in the current government. And with even key architects of 1980s financial liberalisation, such as the IMF and the economist Jeffrey Sachs, rethinking the role of the financial sector, isn’t it time Britain did the same?

Dr Natalya Naqvi is a research fellow at University College and the Blavatnik School of Government, University of Oxford, where she focuses on the role of the state and the financial sector in economic development

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