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Economics as a Morality Play: Fighting Fire with Fire

December 1, 2010

One of the more astounding parts of economic discussions is that they all come down to morality, and not logic.

This post by Steve Waldman is another in a long line of fantastic Interfluidity posts, and not the first post on how to talk about economics. Intellectual battles are not won with logic, but with emotion.  He wants to put the emotion back into the technocrats who are largely Keynesians to fight the morality tales told by the Austrians and the neo-classicals.

Hangover theory and morality plays

I will have more about new morality plays and how to talk about economics, but this reading is a good start to the idea.

More on this idea by Karl Smith, who makes a great analogy:  The punishment for spending too much money shouldn’t be to sit on the couch and smoke pot – it should be to go to work and pay off the bills.

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