Monday, October 14, 2013

Economics compassionate? Yes!

With a hat tip to Don Boudreaux, here's a link to an impassioned defense of economics as the compassionate science by top-drawer economist Steve Landsburg.  Why is Landsburg so adamant that economics is compassionate?
I’ve said this before and will say it again: Part of the reason I love economics is that economics is the compassionate science. It’s the discipline that requires us to think hard and to care about how policies affect everyone, not just the people who happen to be standing in front of us.
The response to the government shutdown has been as good an example of this as any. Nothing but a garguntuan failure of empathy can explain the chorus of voices insisting that the shutdown is a bad thing because government employees might lose their paychecks. It takes a mighty powerful set of moral blinders to care so much about the recipients of those checks and so little about the taxpayers who fund them.
There is more to his argument, and it's worth the time to read the short post. Recommended.