Census records show that the founder of Johns Hopkins University — who was long thought to be an abolitionist — owned slaves. University leaders called the finding “a difficult revelation” and decried slavery as “a crime against humanity.” Meanwhile, Virginia Military Institute has removed a statue of Confederate General Stonewall Jackson from its campus. Consulting firm McKinsey & Company says it’s sorry for helping boost sales of OxyContin and other addictive opioids. The family of children’s writer Roald Dahl has apologized for his anti-Semitism. And St. Mary’s College of Maryland has unveiled a commemorative that remembers the slaves who once lived on the campus.
Socionomists have found that major social mood peaks prompt high-level apologies for ignoble conduct of the past. In the August 1995 issue of The Elliott Wave Theorist, Peter Kendall noted that remorse is a bull market trait born of the larger trend toward inclusion.
To learn more read “Still Sorry, for Now: Historic Apologies Are Driven by Social Mood“.
If you look closely, you can see patterns in social mood that help you predict social trends. Learn more with the Socionomics Premier Membership.