|
These days it seems like economists are everywhere — the newspaper, the television, the school system, the bookstore — speaking in their own special brand of jargon, a language I call “economese”. Understanding what they mean is often difficult without formal training, so I’ve put together this helpful guide on the subject.
| Economese |
Standard English |
What Americans need most is a good economic education. All too often in politics and on the news you hear people making absurd suggestions, like setting price caps or enforcing a minimum wage. If Americans knew even basic principles of economics, they would quickly reject such absurd notions. |
What Americans need most is a strong religious upbringing. All too often in politics and on the news you hear people making absurd suggestions, like letting gay people marry or legalizing abortion. If Americans knew even basic teachings of religion, they would quickly reject such absurd notions. |
What Americans fail to understand is that the necessities of life — the food they eat, the cars they drive, the clothes they wear — are provided not by government but by the market. The free functioning of the market ensures that everyone receives what they deserve and all the necessities of life are provided for. Markets are maximally efficient, so having government interfere with them can only hurt us, not help. |
What Americans fail to understand is that the necessities of life — the food they eat, the cars they drive, the clothes they wear — are provided not by people but by God. Following God’s teachings ensures that everyone receives what they deserve and all the necessities of life are provided for. God is omnipotent and omniscient, so having government disobey His teachings can only hurt us, not help. |
Indeed, markets are such wondrous things that we must bring them into all spheres of life. Our great government institutions must be privatized and made subject to market discipline. Market forces shall ensure that the result will be even more efficient. |
Indeed, God is such a wondrous thing that we must bring Him into all spheres of life. Our great government institutions must be faith-based and made subject to His discipline. God’s will shall ensure that the result will be even more effective. |
Many people refuse to believe in the market and try to shelter themselves from market forces. College professors receive guaranteed employment for life, public television stations receive government subsidies. Not surprisingly, these groups are hotbeds of anti-market sentiment. |
Many people refuse to believe in God and try to shelter themselves from His will. College professors work with materialist scientists, and public television stations work with atheist organizations. Not surprisingly, these groups are hotbeds of anti-religious sentiment. |
The average person cannot afford such a luxury. They know they are born poor and must work hard and follow the instructions of their boss so that one day they may become rich. It is a long and difficult struggle and not all succeed, but those who do bask in the lifelong glory of wealth. |
The average person cannot afford such a luxury. They know they are born into sin and must work hard and follow the instructions of their priest so that one day they may become righteous. It is a long and difficult struggle and not all succeed, but those who do bask in the eternal glory of Heaven. |
It is only by obeying the principles of economics — free markets, free trade, free capital flows — that we will ever cure poverty. But the American people will only consent to such a plan when we teach them of its truth. Only through mandatory economic instruction in our public schools can we hope to rescue our country from its ignorance. |
It is only by obeying the teachings of the Bible — honor God, honor parents, honor religious leaders — that we will ever stop sinning. But the American people will only consent to such a plan when we teach them of its truth. Only through mandatory religious instruction in our public schools can we hope to rescue our country from its Godlessness. |
Inspiration: Let There Be Markets: The evangelical roots of economics, A Person Paper on Purity in Language
posted 2005-11-25T08:18:56 #
[...] You might enjoy The Market as God by Harvey Cox who is a professor of Divinity at Harvard. [...]
posted by econgeek on 2005-12-07T18:29:40 #
The problem with comparing markets to God is that markets are not a single omnipotent entity – they are a spontaneous order created by the interactions of thousands, millions, or billions of people. A more accurate analogy to God would be government itself – people put their trust in government to be able to fix markets. In order for a government to “fix” a market, however, it has to be omniscient and omnipotent – it has to understand the “correct” price for the good whose prices it controls in order to not cause a shortage and encourage future investment in a needed area.
In reality, this is not how government tends to work. When government caps, say, gas prices – voila, shortages result, just as economists predict. Government is not God, it is simply a creation (and design) of man. Markets, likewise, are not God – but at least they are not created by human design. They simply arise out of the mass of voluntary human interaction.
Here are some related articles by economist Don Boudreaux:
http://cafehayek.typepad.com/hayek/2004/12/creationism_liv.html http://cafehayek.typepad.com/hayek/2004/12/more_on_bluesta.html http://cafehayek.typepad.com/hayek/2005/08/social_creation.html
comment posted by ‘Daniel’
—-
|
Loading ...