Four Big Ideas at 4: The Drake Treasure, The Theory of Moral Sentiments, Contexts for Cooperation, Wellsprings of Counsel

The Drake Treasure

In the early 1900s, Oscar Hartzell made a lot of money by running a scam involving Sir Francis Drake’s supposed fortune. He called up people in Iowa with the last name “Drake” and told them he was a distant relative. He claimed that Sir Francis Drake’s estate, worth $100 billion, had never been paid to his heirs, and he promised to give everyone who invested $500 for every dollar they put in. At the height of the scam, even people outside of Iowa and without the last name Drake fell for Hartzell’s scheme. Around 1917, Hartzell went to London to meet with the supposed heir of the Drake estate, but he ended up staying there and living a luxurious lifestyle. He kept telling his investors that he was negotiating with the British government for the money and needed more donations for expenses. His agents in the Midwest collected the money, even though some of them believed in the scam. Hartzell was eventually found out and deported back to America where he stood trial in 1933. By that time, he had collected $800,000 (almost $20M in 2023 dollars) from the scam, and during the trial, his followers sent him a further $68,000 for legal fees. This is a story that demonstrates how people, with different histories, interests, passions and backgrounds can be united by a common belief, even if that belief is based on a falsehood.

The Theory of Moral Sentiments

Adam Smith is today known for his concept of “the invisible hand” where people, in pursuit of their selfish interests, could create products and services that other people wanted. When this happens, there is increased economic growth and prosperity for everybody. However, in his lesser-known book, The Theory of Moral Sentiments, Smith argues that people’s behavior are also influenced by another kind of “invisible hand” – the approval or disapproval of others. Although people are inherently selfish and self-centered, the approval or disapproval of others serves as feedback for the kinds of behavior that should be repeated in the future. Hence, majority of the time, most people will behave in a prosocial manner because doing so is likely to be rewarded with social approval while not doing so will be met with social disapproval.

Contexts for Cooperation

In their 2013 study titled, “Religious context and prosociality: An experimental study from Valparaíso, Chile“, researchers Ali Ahmed and Osvaldo Salas wanted to find out whether being in a religious environment could make people act more cooperative. To find out, they conducted an experiment called a one-shot public goods game. In this game, people in a group are given some money or tokens and have to decide whether to keep it for themselves or put it in a shared pool. Whatever money or tokens put in the shared pool is then multiplied by some factor and divided equally among everyone in the group. Because the tokens are multiplied, everyone benefits if they put everything they have into the pool. However, if one person holds back while others contribute, he can get extra money or tokens while others lose out. In Ahmed and Salas’ study, some groups of people played the public goods game in a church building while others played in a regular lecture hall. They found that people who played in the chapel had a higher expectation of cooperation from other players compared to those who played in the classrooms. Interestingly, how religious someone said they were didn’t affect the results of this study.

Wellsprings of Counsel

Proverbs 20:5 says, ‘Counsel in the heart of a man is like deep water; but a man of understanding will draw it out’

As you are seated there, quietly poring over the letters of this mail, you have counsel bubbling up within you.

But there is no way you would be able to draw out counsel out of your heart if you do not take a pause from the noise that you would encounter in your life.

The term ‘noise’ isn’t limited to external disturbances to the sound waves in our immediate environment. Noise also includes all forms of mental clutter that fill our minds throughout the day.

When you find yourself constantly and continuously anxious about what you would eat or what you’d wear or what people say or think about you, you are unwittingly filling your mind with mental clutter.

When you are filled with doubt, uncertainty, negative self-talk, personal prejudices influenced by your cultural background, upbringing, and so on, you are unwittingly giving in to these mental noises.

Read this carefully: If you are in a quiet, noiseless environment, far away from the rumbles of the city, but your mind is in a state of clutter, you’d still be unable to tap from the wellsprings of counsel available within you!

You’re only going to be able to discern and draw out what you’ve got within you if you are able to still your mind from the noises from everyday living and negative self-talk.

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Promise

Promise Tewogbola is a Christian writer, behavioral economic researcher and author of several books. He's currently pursuing his Ph.D. in Applied Psychology.