The economy is often viewed as a construct shaped by tangible factors, the composition of its industries, the strength of its institutions, and as I recall from my junior secondary school business studies classes, the classic factors of production; land, labor, and capital. Yet, we often overlook a very critical element of economic formation: the profound influence of prevalent emotions in shaping economic realities. I believe that emotion is as fundamental as any other factor in shaping economic industries and opportunities.
General emotions influence consumer behavior and Industrial demography in ways that we rarely take notice of. It’s a fact that emotions are integral to consumer decisions and industrial dynamics, shaping the very fabric of economic realities.
Emotions significantly influence both individual purchasing decisions and broader economic trends. On a larger scale, the collective emotions of a society, such as widespread optimism or fear, can shape which industries flourish. For example, during periods of economic optimism, consumers may feel more confident in their financial stability, leading to increased spending on luxury items and non-essential services. Conversely, during times of fear or uncertainty, such as economic downturns, consumers often prioritize essential goods and services, reducing expenditures on luxury items. This shift in spending patterns can cause certain industries to expand or contract based on the prevailing collective emotions. The interplay between emotions and economic structures extends beyond individual behaviors to broader societal sentiments that significantly influence economic outcomes.
However, there exists a darker current, a shadowed underbelly of the economic landscape, where a more insidious emotion is weaponized. Hate, and the divisions it sows, can be meticulously cultivated and exploited, shaping not just market trends, but the very fabric of societal consumption and political action. It is in this ‘shadow economy of hate’ that we see the true extent of emotion’s power to manipulate economic outcomes.While the influence of emotions like greed, desire, and pride on economic activity is relatively straightforward to recognize, the role of hate as an economic driver is often more subtle and less apparent. While emotions like greed, lust, and pride are often acknowledged, they are frequently disregarded as mere background noise in economic analysis, however, the role of hate warrants closer examination due to its profound socioeconomic implications.
Throughout history, certain individuals have sought to expand their dominion, not always by the sword, but by mastering the art of division. Conquerors, from emperors to modern political elites, have understood that power is often secured not through outright war but by fragmenting societies, setting people against one another, and positioning themselves as the indispensable arbiters of order. The most effective rulers do not need to fight every battle themselves; they simply need to convince others that they have an enemy. In doing so, they do not just consolidate authority, they create a market for fear, resentment, and control. Today, this practice has evolved into a highly profitable industry: the business of hate and polarization. This weaponization of hate often involves the strategic manipulation of media narratives and political rhetoric, designed to amplify existing social divisions and create a sense of perpetual threat, effectively diverting public attention from systemic injustices and economic exploitation.
While the ‘economy of hate’ can manifest in capitalist settings, it is particularly prominent within social and political groups. Within the African context, this is especially pronounced. Due to the significant role politics plays in shaping economic opportunities, and the prevalence of opportunism, alignment with the right political groups is often essential for economic advancement. This dynamic amplifies the impact of the ‘economy of hate,’ as political actors frequently exploit existing divisions to consolidate power and control resources.
In many African nations, the legacy of colonial ‘divide and conquer’ tactics persists, fueling ethnic tensions that are exploited by political actors. The deliberate cultivation of societal divisions yields tangible economic benefits for those orchestrating them. Polarizing issues drive individuals to contribute financially to causes or candidates that align with their heightened emotions, filling the coffers of political campaigns and advocacy groups. Heightened engagement on social media platforms attracts advertisers seeking to capitalize on increased user activity, resulting in substantial profits for these platforms. The creation of false enemies, the scapegoating of marginalized groups, and the amplification of manufactured conflicts all serve as potent distractions, preventing people from addressing the root causes of their economic and social woes.
Amidst the calculated chaos of the ‘shadow economy of hate,’ it’s easy to feel powerless, to believe that division and manipulation are inevitable. Yet, within each of us lies the capacity for discernment, the ability to reclaim our emotional agency. The power to dismantle this insidious system begins with a single, conscious act: questioning the very emotions that seek to control us. Ultimately, the ‘shadow economy of hate’ weakens our communities, breaks down trust, and steals resources from what truly matters. To fight back, we need to learn to think critically and understand how we’re being manipulated. We also need to fix the deep inequalities that make us vulnerable to this kind of exploitation. It’s crucial to understand that while a select few may profit from the manufacture of hate, no society ultimately profits from its consumption. Hate erodes the very foundations of social cohesion, leading to instability, conflict, and the destruction of shared prosperity. It creates a self-destructive cycle that harms everyone, even those who believe they are benefiting.
Therefore, the next time you feel incited to anger or hatred by the media or any social group or individual, stop and ask: who wins if I feel this way? Who profits from my hatred? Who benefits from this division? By collectively questioning these feelings, we can finally begin to tear down the ‘shadow economy of hate’ and build a society based on understanding and unity, working towards our collective good.
Eyesan Toritseju is a graduate of Civil Engineering from Covenant University turned serial entrepreneur and corporate strategist. Passionate about society and the cultural ideologies that shape us, he explores how these forces propel or inhibit progress through his writing. In his column, Cosmopolitan Nigeria, Eyesan examines how young Nigerians navigate the complexities of culture, religion, and identity in a rapidly evolving world.
