Sunday, September 8, 2013

SLAVERY IN THE CITY?

DEATH OF YOUNG INTERN AT MERRILL LYNCH
SPARKS FURORE OVER LONG HOURS AT BANKS
www.independent.co.uk - Serious concerns have been raised tonight about the punishing hours endured by interns at City investment banks following the death of a young Bank of America Merrill Lynch employee. Moritz Erhardt, 21, was nearing the end of a seven-week internship in London when he collapsed at home after working until 6am for three days in a row. His body was discovered by his flatmates. Some reports suggested that Mr Erhardt, from Freiburg, south-west Germany, was epileptic.
Around 300 interns working at various banks stay at the Claredale House student accommodation complex in Bethnal Green in east London for between seven and 10 weeks over the summer. One intern, told The Independent those in Mr Erhardt’s investing banking division group faced the longest hours.

He said: “We all work long hours, but the guys working regularly until 3am or 4am are those in investment banking. People working in markets will have to be in at 6am but not stay as late, so what time you can leave the office depends on your division. Mr Erhardt, who had been earning £2,700 a month or £45,000 pro rata, collapsed from exhaustion. “He apparently pulled eight all-nighters in two weeks. Maybe it was just too much for him in the end,” one intern said. 
The London-based cardiologist Dr Aseem Malhotra spoke of the health risks to which young banking interns are exposed. He said: “Although we don’t know for sure what caused such a tragic death, we know that working excessive hours, especially night shifts, is an extra risk to health.”

The death of Moritz Erhardt, a young German student working for Merrill Lynch, triggers call for inquiry into excessive working hours in City. “For reasons related to an individual's ambition or the current employment market, people are pretty desperate to get jobs ... some employers are exploiting that fact, pushing people past the point where it makes sense for their health,” said Chris Roebuck, professor of leadership at Cass business school. Another fellow intern explained “There’s a general acceptance of this working system. I see many people wandering around, blurry-eyed and drinking caffeine to get through but people don’t complain because the potential rewards are so great. We’re competing for some very well-paid jobs.” This competitive culture of extreme working hours is an example of the lack of understanding of the true meaning of life. Universities are teaching many things, but do not explain the importance of this human form of life which is made ​​to understand our relationship with the Supreme Lord. Study hard and compete with others for the highest average in the class and thus get a good job should not be an end in itself. Pursue economic development is very well to the extent that it helps us to live without greater economic difficulties and allows us to keep the body in a sound, healthy condition and occupy our minds on higher ideals. This life is not to work like an ass to just get the satisfaction of the material senses, but for self-realization. (Editor's note).

WHAT DO THE VEDIC TEACHINGS TELL US? 
Most often, those who work very hard day and night to clear the burden of self-created duties say that they have no time to hear of the immortality of the living being. To such mūdhas, material gains, which are destructible, are life’s all in all - despite the fact that the mūḍhas enjoy only a very small fraction of the fruit of labor. Sometimes they spend sleepless days and nights for fruitive gain, and although they may have ulcers or indigestion, they are satisfied with practically no food; they are simply absorbed in working hard day and night for the benefit of illusory masters. ... the foolish worker will untiringly continue to hear of the sense-enjoyable tidings of the flickering mundane world, but will have very little time to hear about the eternal living force that moves the material world.


Śrīla A. C. Bhaktivedanta Swami Prabhupāda :
Bhagavad-gītā As It Is 
Chapter Seven: “Knowledge of the Absolute”
Verse 15 -  Bhaktivedanta VedaBase
http://vedabase.com/en/bg/7/15

Published by dasavatara das - "Vedic Views on World News"
http://www.vedicviews-worldnews.blogspot.com.ar/

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