Evening star., 1924-12-08
Emotional Economics.

1t would be interesting to know how
| many of that large number of Ameri
cans who like to think they are think
ing about great social and economic
problems took the time and trouble
| to read painstakingly the two most
idge-his annual message to Congress
and his address at the international
| live stock exposition. Il would be
gratifying, though difficult, to believe
served to be, because of both the sub
jects treated and the treatment Of the
subjects. The two presidential utter.
ances are notable for many things
but chiefly for absence of what might
aptly be described as emotional eco
| nomics.'
We like TO think of ourselves as a
practical, common-sense people, but as
matter Of fact we are highly emo
tional, and once our emotions are
aroused they are likely to lead us irto
strange, and sometimes foolish, paths.
When the armistice ended the World
War, great wave of emotion swept
| over the country. 1t was, in fact, a
| wave of spiritual exaltation. We were
highly resolved that we were going to
make America a better homeland for
our sons who had borne the burden
of battle and for the sons who came
after them. A nobler emotion than
this it would be difficult to imagine.
But the trouble was that we wanted
to take up the job of making over
America, and finish it overnight, or in
a week or so at the longest. And when
the patient did not respond so readily
to treatment as we desired our en-
thusiasm began to wane, and it kept
on waning until there was precious
little of it left. From the peaks of ex-
altation we slid into the slough of
despond, until a good many of us
were about ready to believe America
was all but done for and hardly worth
making over, after all. But gradually
we came to a better frame Of mind
and to a realization that while mira
cles might be denied us, there still
was substantial reason to believe this
country could in time be made a
fairly comfortable place Of abode.
What SO many Of us thought we
could do right after the armistice a
lot Of economic thinkers" still want
to do to cure the ills of agriculture
and other ills which inevitably beset
community Of more than a hundred
millions in our present imperfect state
of civilization. They want to issue
decree for universal prosperity and
happiness, go to bed for a good nights
sleep, and wake up in the morning
and find poverty and injustice and
The trouble with these people is that
instead of being economic thinkers
they are economic feelers, or emo
tional economists. Their minds have
not progressed beyond childish belief
in the potency Of a wishing lamp
They rub the lamp and expect prompt
fulfllment Of all desires. They are
disappointed. Of course, and then they
are down hearted and despairing of
the future.
But things are not as black as they
seem to these folk of generous i'm
pulse, but faulty reasoning, even if
the sun does stubbornly refuse at
their bidding to shine day and night
II they will only read the Presidents
message and his Chicago speech, read
them painstakingly and thoughtfully,
they will find therein a lot of reason
to be hopeful for a people who are
willing to get ahead by practice of
such old-fashioned virtues as indus
try economy and self-help