Elias Bautista

Elias Bautista 

Professor Csilla B. Korbl

Writing 2150

26 March 2024

“The Wolf of Wall Street” is a widely discussed film that showcases the glamorous yet controversial world of investment banking on Wall Street. Directed by Martin Scorsese and starring Leonardo DiCaprio, it provides viewers with a captivating look into the high-stakes environment of finance, marked by lavish lifestyles, and unethical means. However, this portrayal of the industry is a biased view of Wall Street and its professionals. The film’s focus on luxury lifestyles and unethical behavior may lead viewers to believe that such behavior is not only common but also acceptable within the financial industry. This misrepresentation not only impacts public perceptions of Wall Street but also has consequences for those working within it. Investment bankers, in particular, may find themselves struggling with the psychological harm of unrealistic expectations and the pressure to imitate the characters depicted in the film. Additionally, the film’s glorification of illegal activities may weaken trust in financial institutions and damage the industry. As a result, “The Wolf of Wall Street” carries out harmful stereotypes and damages relationships within the finance industry. Therefore, the film’s portrayal of Wall Street affects investment bankers psychologically and students studying finance, economically, and in their relationships.

The misrepresentation of “The Wolf of Wall Street” can have psychological effects on both investment bankers and college students majoring in finance. For investment bankers, the film’s portrayal of excessive wealth, luxury lifestyles, and unethical behavior may create unrealistic expectations and pressure to imitate the idealized image of success. This pressure can lead to feelings of inadequacy, and stress, as professionals struggle to obtain  the glorified lifestyle presented in the film with the realities of their own careers. As Jordan Belfort confidently said in the film, “I’ve been a poor man, and I’ve been a rich man. And I choose rich every f*cking time.” This quote demonstrates the attraction  of wealth portrayed in the film, worsening the psychological pressures faced by investment bankers to achieve similar levels of success. Moreover, the glorification of unethical practices promotes moral conflicts, further worsening psychological distress. For college students majoring in finance, the film’s depiction of Wall Street may distort their perceptions of the industry and shape their career aspirations. Inspired by the characters portrayed in the film, students may be drawn to the attraction of high-paying jobs and luxurious lifestyles without fully understanding the ethical responsibilities and professional challenges in the financial industry. Consequently, the misrepresentation of “The Wolf of Wall Street” can carry on unrealistic expectations, worsen psychological pressures, and disregard the well-being of both current and aspiring finance professionals.

The misrepresentation of “The Wolf of Wall Street” can have significant economic implications for both investment bankers and college students majoring in finance. For investment bankers, the film’s portrayal of Wall Street as an industry of  unethical behavior may contribute to negative perceptions of the financial industry among the public and authorities. As Jordan Belfort says in his book, “The name of the game, moving the money from the client’s pocket to your pocket.” This quote highlights the film’s depiction of Wall Street as a place where personal gain is often more important than ethical considerations. Moreover, the glorification of illegal activities may destroy trust in financial institutions, and discourage investors. For college students majoring in finance, the misrepresentation of Wall Street in the film may influence their career choices and investment decisions. Inspired by the characters portrayed in the movie, students may be drawn to careers that promise quick wealth and high status without considering the long-term economic consequences. This can result in a mismatch between students’ career aspirations and the realities of the financial industry, potentially leading to dissatisfaction, and underperformance. Overall, the misrepresentation of “The Wolf of Wall Street” can affect the financial industry’s economically harming investor confidence, and the career path of aspiring finance students.

The misrepresentation of “The Wolf of Wall Street” can impact the relationships of both investment bankers and college students majoring in finance. For investment bankers, the film’s portrayal of Wall Street culture as one characterized by manipulation, and disregard for ethical behavior may strain personal relationships within the industry. As Jordan Belfort mentors his protege, he states, “Act as if! Act as if you’re a wealthy man, rich already, and then you’ll surely become rich. Act as if you have unmatched confidence and then people will surely have confidence in you.” This demonstrates the pressure felt by investment bankers to prioritize personal success at any cost, potentially leading to a breakdown of trust. Moreover, the glamorization of materialism may further worsen, encouraging a competitive and cutthroat environment that weakens the development of genuine relationships. For college students majoring in finance, the misrepresentation of Wall Street in the film may influence their personal relationships and social interactions. Inspired by the characters portrayed in the movie, students may adopt attitudes and behaviors that prioritize wealth and status, potentially ignoring friends and family members who do not share the same values. Additionally, the glorification of unethical behavior, as depicted by Belfort’s manipulation of his colleagues, may create moral conflicts and strain relationships with peers and mentors who have ethical standards. Overall, the misrepresentation of “The Wolf of Wall Street” can have effects on the relationships of investment bankers and college students majoring in finance, encouraging trust,, and mutual respect within both professional and personal spheres.

In conclusion, the impact of “The Wolf of Wall Street” reaches further than its portrayal in the movie, affecting both investment bankers and finance students significantly. Through its glamorization of unethical behavior, the film carries out harmful stereotypes and encourages unrealistic expectations within the financial industry. This misrepresentation not only impacts individuals psychologically, leading to feelings of inadequacy, but also carries significant economic consequences, destroying trust in financial institutions and threatening market stability. Moreover, the portrayal of relationships in the film reinforces a culture of exploitation and manipulation, harming personal connections within both professional and personal spheres. Therefore, the film’s portrayal of Wall Street affects investment bankers psychologically and students studying finance, economically, and in their relationships.

Citation :

Scorsese , Martin. “The Wolf of Wall Street | ‘Not Leaving’ Clip | Paramount Movies.” YouTube, YouTube, 11 Nov. 2021, www.youtube.com/watch?v=g07Xxr20L9s. 

Scorsese, Martin, et al. The Wolf of Wall Street. Universal Studios, 2014. Belfort, Jordan. The Wolf of Wall Street. Random House Publishing Group, 2007.

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Elias Bautista 

Professor Csilla B. Korbl

Writing 2150

6 March 2024

Fast fashion refers to the rapid production of inexpensive clothing which are inspired by the latest trends seen in media. Fast fashion involves quick times from designing clothes to selling at retail stores, which allow companies to produce large quantities of clothing at a low cost. The key to fast fashion’s affordability lies in the speed and efficiency of the manufacturing process. By quickly hopping on the latest trends, these companies can produce clothing items that are in high demand, ensuring a quick turnover of inventory and a positive stream of revenue. While the fast fashion industry may seem like a quick fix to the problem of keeping up with changing fashion trends on a budget, the long-term perceived benefits of this industry are far from ideal. These include environmental damage due to the excessive use of resources in production, labor exploitation in the garment factories, and the devaluation of the fashion industry as a whole due to the emphasis on speed and quantity over quality and sustainability. Therefore, fast fashion affects garment workers and consumers environmentally, economically, and psychologically.

Firstly, fast fashion raises concern about the environment surrounding the workers and consumers. The industry promotes the idea of throwing away significant amounts of waste because it relies on rapid production cycles to meet consumer demand for trendy clothing. This cycle of demand leads to overproduction as brands often manufacture more garments than can be sold. The fast fashion industry encourages a “throw-away” consumer mindset, leading people to view clothing as disposable. This highlights a trend where Americans have doubled the volume of clothing discarded, adding it to the poor durability of fast fashion clothes (Wicker). The Council for Textile Recycling demonstrates the issue of surplus clothing donations, showing that only a fraction is sold by charities, leading to excess waste. Brand practices like Zara, who restock new designs twice a week, emphasizes the frequent restocking model as representative of the industry’s environmental impact. Excess production results in large quantities of unsold inventory, which often ends up being discarded or burned, contributing to environmental pollution. The short lifespan of fast fashion clothing, largely caused by the use of inexpensive materials like polyester, worsens the environmental impact of the fashion industry. Polyester is a man made fiber from non-renewable resources, and is commonly used in fast fashion production due to its low cost, however, polyester garments tend to deteriorate slowly, taking hundreds of years to decompose in landfills. When these garments are thrown out, either due to wear and tear or changing fashion trends, they end up in landfills where they contribute to the growing problem of textile waste. The equivalent of one garbage truck of textiles is landfilled or burned every second, and the decomposition of textiles in landfills releases greenhouse gasses like carbon dioxide, which contributes to climate change (Ellen). Therefore, fast fashion highlights the environmental crisis through its promotion of a disposable clothing mindset of overproduction, waste accumulation, and poor durability.

Also, the rise of fast fashion has sparked concerns regarding its economic implications. The low prices of fast fashion often hide the true costs of production, including exploitation of labor which consumers may unknowingly support through their purchasing decisions. Fast fashion companies are notorious for their cost-cutting measures to maintain their low retail prices. These cost-cutting strategies often involve sacrificing fair wages for garment workers, leading to a significant disparity between the prices consumers pay and the actual cost of production. Many workers in factories supplying fast fashion brands are paid below living wage standards, trapping them in cycles of poverty. The fast fashion industry employs approximately 75 million workers worldwide, however less than 2% of these workers receive a living wage (Ross). Many laborers undergo  harsh hours, up to 16-hour shifts, often without reasonable compensation or job security. Child labor is another alarming issue in the fast fashion industry. The industry’s demand for low-skilled labor often leads to the exploitation of children, who are forced to work in harsh conditions for minimal pay.These harsh realities underline the ongoing debate surrounding the economic impact of fast fashion, particularly in relation to its treatment of workers. They serve as a stark reminder of the human cost associated with the production of fast fashion, and highlight the urgent need for ethical practices and fair labor standards within the industry. Overall, fast fashion’s economic model prioritizes short-term profits over the well-being of garment workers and while consumers may benefit from initially lower prices, the hidden costs and long-term consequences of fast fashion’s economic impact are significant to society.

Finally, the psychological impacts of fast fashion on garment workers are multifaceted and can negatively impact their mental health and well-being. The demanding nature of fast fashions, tight deadlines and high quotas, can lead to significant stress and anxiety among garment workers. The pressure to meet production targets while working long hours in often unsafe conditions can take a toll on workers’ mental health. Working in environments where labor rights are often disregarded and exploitation is uncontrolled can lead to feelings of depression and hopelessness among garment workers. Workers may also experience psychological trauma as a result of workplace incidents such as factory fires, building collapses, or other accidents (Morgan). These traumatic events can have long-lasting effects on workers’ mental health, including symptoms of post-traumatic stress disorder. The Rana Plaza tragedy, where over 1,100 workers lost their lives due to poor working conditions in a factory producing clothing for fast fashion brands, serves as an example of one of many incidents that could go wrong. The collapse of the eight-story building in Bangladesh on April 24, 2013, shocked the world and drew attention to the terrible consequences of the fast fashion industry’s pursuit of profit at the expense of worker safety. Many of the workers trapped inside were garment workers who had been forced to continue working in the building despite visible cracks and safety concerns (John). The devastating loss of life and the horrific scenes of the rescue efforts deeply affected not only the victims’ families but also survivors and witnesses. The psychological trauma inflicted by this tragedy left lasting scars, emphasizing the urgent need for systemic change within the fast fashion industry. The Rana Plaza tragedy underscores the urgent need for systemic change within the fast fashion industry to prioritize worker safety and well-being over corporate profits, as well as the importance of addressing the psychological impacts on garment workers who continue to face exploitation and unsafe working conditions. Therefore, fast fashion affects garment workers psychologically by putting them through intense pressure and the constant threat of life-threatening incidents like the Rana Plaza tragedy. These factors contribute to significant stress, anxiety, and trauma among workers, highlighting the urgent need for systemic change within the industry to prioritize worker safety and well-being over profit.

In conclusion, the study of fast fashion’s impacts on garment workers and consumers reveals issues that result in environmental, economic, and psychological consequences. From the excessive waste generated by overproduction to the exploitation of labor and the toll on mental health, the fast fashion industry’s pursuit of profit comes at significant costs. The Rana Plaza tragedy serves as a reminder of the human toll by this constant drive for cheap clothing. It emphasizes the urgent need for systemic change within the industry to prioritize worker safety and well-being over corporate profits. Furthermore, the cycle of rapid turnover in fashion trends demonstrated by the fast fashion industry promotes consumer pressure to constantly update their wardrobes, contributing to a culture of materialism. Moreover, the psychological impacts on garment workers, ranging from stress and anxiety to trauma and despair, demand attention and action to ensure fair and ethical treatment for those who support the industry’s exploitative practices. Addressing these issues requires efforts from governments, corporations, and consumers to promote sustainable and ethical practices throughout the fashion industry. Therefore, fast fashion affects garment workers and consumers environmentally, economically, and psychologically.

Ellen MacArthur Foundation. “Fashion and the Circular Economy.” Www.ellen macarthur foundation.org, 2023, www.ellenmacarthurfoundation.org/topics/fashion/overview.

John Hobson, To die for? The health and safety of fast fashion, Occupational Medicine, Volume 63, Issue 5, July 2013, Pages 317–319, https://doi.org/10.1093/occmed/kqt079

Morgan, Andrew. ““The True Cost” – Official Trailer.” Www.youtube.com, 23 Apr. 2015, www.youtube.com/watch?v=OaGp5_Sfbss&t=7s. Accessed 7 Mar. 2024.

Ross, Emma. “Fast Fashion Getting Faster: A Look at the Unethical Labor Practices Sustaining a Growing Industry.” International Law and Policy Brief, The George Washington University Law School, 28 Oct. 2021, studentbriefs.law.gwu.edu/ilpb/2021/10/28/fast-fashion-getting-faster-a-look-at-the-unethical-labor-practices-sustaining-a-growing-industry/.

Wicker, Alden.  “Fast Fashion Is Creating an Environmental Crisis.” Newsweek, 16 Mar. 2017,         www.newsweek.com/2016/09/09/old-clothes-fashion-waste-crisis-494824.html.