Virtue Signalling: A Waste of Time?

In 2003, I first arrived in New Zealand to study at the University of Otago.

It was my first time living alone in a culture I knew very little about.

Also, I carried the burden of being the first in my family to attend uni.

My dad only graduated high school. He didn’t have academic smarts. But he had a lot of street smarts. And he gave two me pieces of valuable advice:

• ‘New Zealand is a white man’s country.’

• ‘When in Rome, do as the Romans do.’

I took his words to heart. So I identified myself by a Western name — John. And, in doing so, I anglicised myself.

This is not so strange. For example, throughout history, people of Jewish origin have often anglicised their names in order to fit into Western society. You will notice those with the original surname ‘Levi’ changing it into ‘Levy’ or ‘Levin’ or ‘Levinsky’.

It’s simply practical to do so.

As immigrants and outsiders, we must bow our heads. We must avert our eyes. We must work hard to fit in.

Yes, we are aware that glass ceilings exist. So does discrimination. So does bullying.

But we don’t complain. We don’t make a fuss. Because, for all its faults and frailties, we know that Western democracy is still the best system that our world has ever known. And it’s our best chance for prosperity and freedom and happiness.

This is why we want so badly to fit into it.

Frankly, we don’t expect our adopted country to love us outright. We don’t expect the red-carpet treatment.

Instead, we want to earn our keep. Earn our place.

For most us, the equation is dead simple: fit into Western society.

Assimilate. Learn. Improve.

What we do not do is engage in virtue signalling. Pontificating. Preaching.

Why bother?

We scarcely have the time for it.

The problem with virtue signalling today

Of course, a lot has changed in the past 20 years.

Instead of fitting in, I’ve noticed that there’s now a vocal segment of our society who want to challenge. Who want to defy. Who want to agitate.

This isn’t new, by any means.

It’s all part of the cycle of history:

• In the 1960s and 1970s, we experienced our first counter-culture uprising. It happened in the wake of the civil-rights movement, the Vietnam War, and the Watergate scandal.

• Fortunately, the 1980s, 1990s, and early 2000s saw us return to mainstream conformity and conventional aspirations.

• But then, in the 2020s, the pendulum has swung back again. Now, with social media and echo chambers, there seems to be a second wave of counter-culture happening.

• Has this led to tribal conflict? Have our divisions deepened? Are we obsessing over the wrong issues?

Well, the good old Oxford Dictionary defines virtue signalling like this:

We certainly saw a lot of virtue signalling in Albert Park on Saturday, March 25.

It was a confrontation between reactionary politics and progressive politics.

There were rebels. There were martyrs.

There was rage. There was fury.

There was harsh language. There was physical violence.

There was tomato juice.

To me, what is remarkable is how shallow the arguments from both sides appear to be.

Now, regardless of what you might think about New Zealand’s shrinking space for free speech, our country is still freer than others:

• For example, in Singapore, colonial-era security laws are still being enforced. Anyone who causes a public disturbance can be arrested and jailed. Often without trial. The common joke in Singapore is this: ‘There is freedom of speech. Just no freedom after speech.’

• Meanwhile, Germany has the tightest hate-speech laws in the Western world. The government is determined to stamp out what it calls volksverhetzung — incitement to hatred. The police are given enormous powers to monitor and prosecute anyone who doesn’t toe the line. This effectively shuts down public debates about race, religion, or gender.

Is all this anti-democratic?

Perhaps.

Frankly, it will be a sad day if New Zealand ever decides to adopt the Singaporean or German model. It will be a tragedy if our space for free speech shrinks even further. I hope that it doesn’t happen.

But, for now, let’s look past the noise.

Let’s look at the big picture.

Rationally speaking, what does the controversy in Albert Park have to do with the urgent problems that New Zealanders are facing at the moment?

Just think about it:

• Stubborn inflation.

• A widening trade deficit.

• A widening wealth gap.

• Crumbling infrastructure.

• A failing education system.

Well, as it turns out, reactionary and progressive politics do nothing to fix these problems. They offer absolutely nothing of value.

I would very much prefer it if we could just focus our collective energy on the bread-and-butter issues that really matter.

For example, if we have better roads, everyone — transgender or cisgender — will reap the benefits in the long run.

So, too, if we have better schools. Better jobs. Better economic opportunities.

Why not strive for that?

Our opportunity for you

I suspect you might already be harbouring some thoughts of your own:

• Perhaps you feel uneasy about certain trends emerging in the world today?

• Perhaps you feel uncomfortable about certain attitudes gaining pace in your community?

• Perhaps you’re wondering what the long-term impact might be on your family’s well-being and happiness?

Of course, it’s only human to worry. After all, we all feel it when societal winds shift and change. And depending on which way the prevailing breeze blows, some political beliefs grow stronger, while other political beliefs get weaker.

The Germans call this zeitgeist — the spirit of the times.

So, are you concerned about what you’re seeing at the moment? Do you feel like you need to be doing something in response to the zeitgeist?

Well, rest assured, I have good news for you. If you’re an investor worried about current trends, there’s actually one place where ideology holds very little sway — the stock market.

Here’s why:

• The market is neither liberal nor conservative. It’s politically neutral.

• The market does not care about your ethnicity or your religion or your gender. It is colour-blind and non-denominational.

• The market is neither moral nor immoral. It is amoral. You will notice that money doesn’t sleep. It simply wants to multiply itself through the magic of compounding. It also wants to earn a decent yield along the way.

So if you desire freedom — the freedom to live your life on your terms — this might just be the ticket.

Source: City Index

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Regards,

John Ling

Analyst, Wealth Morning

(This article is general in nature and should not be construed as any financial or investment advice. Vistafolio services are for Wholesale or Eligible investors as defined in the Financial Markets Conduct Act 2013. Please request a free consultation if you would like to discuss your eligibility.)