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Saturday, May 10, 2003

What We Should Not Do


What makes economists different:


In every stage of civilization, in which the power of money has been prominent, poets in verse and prose have delighted to depict a past truly "Golden Age", before the pressures of mere material gold had been felt. Their idyllic pictures have been beautiful and have stimulated noble imaginations and resolves; but they have had very little historical truth. Small communities with simple wants for which the bounty of nature has made abundant provisions, have indeed sometimes been nearly free from care about their material needs, and have not been tempted to sordid ambitions. But whenever we can penetrate to the inner life of a crowded population under primitive conditions in our own time, we find more want, more narrowness, and more hardness than was manifest at a distance: and we never find a more widely diffused comfort alloyed by less suffering than exists in the western world today. We ought not therefore to brand the forces which have made modern civilization by a name which suggests evil.
Alfred Marshall Principles of Economics

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