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In 2014, according to the F.B.I., anti-Muslim hate crimes represented 16.3 percent of the total of 1,092 reported offenses. Anti-Semitism still led the way as a motive for hate crimes, at 58.2 percent.

Hate crimes may seem chaotic and unpredictable, a consequence of random neurons that happen to fire in the brains of a few angry young men. But we can explain some of the rise and fall of anti-Muslim hate crimes just based on what people are Googling about Muslims.

If our model is right, Islamophobia and thus anti-Muslim hate crimes are currently higher than at any time since the immediate aftermath of the Sept. 11 attacks.

How can these Google searches track Islamophobia so well? Who searches for “I hate Muslims” anyway?We often think of Google as a source from which we seek information directly, on topics like the weather, who won last night’s game or how to make apple pie. But sometimes we type our uncensored thoughts into Google, without much hope that Google will be able to help us. The search window can serve as a kind of confessional.

It is not just that hatred against Muslims is extremely high today. It’s that it’s exceptional compared with prejudice against every other group in the United States.

“If someone is willing to say ‘I hate them’ or ‘they disgust me,’ we know that those emotions are as good a predictor of behavior as actual intent,” said Susan Fiske, a social psychologist at Princeton

Google searches seem to suffer from selection bias: Instead of asking a random sample of Americans how they feel, you just get information from those who are motivated to search. But this restriction may actually help search data predict hate crimes.

“Google searches answer a different question: What do people excited enough by an issue to comment on it think and believe about it? The answer to this question, just because it is unrepresentative of the public as a whole, may be a better bet to predict hate crimes.”

While the vast majority of Muslim Americans won’t be victims of hate crimes, few escape the “constant sense of fear and paranoia” that they or their loved ones might be next, said Rana Ibrahem

What about the other side of the coin — compassion and understanding? Do they stand a chance against hate?Searches for information about Islam and Muslims did rise after the attacks in Paris and San Bernardino. Yet they rose far less than searches for hate did. “Who is Muhammad?” “what do Muslims believe?” and “what does the Quran say?” for instance, were no match for intolerance.

Google searches expressing moods, rather than looking for information, represent a tiny sample of everyone who is actually thinking those thoughts.

The search data also tells us that changes in Americans’ policy concerns have been dramatic. They happened, quite literally, within minutes of the terror attacks.Before the Paris attacks, 60 percent of Americans’ searches that took an obvious view of Syrian refugees saw them positively, asking how they could “help,” “volunteer” or “aid.” The other 40 percent were negative and mostly expressed skepticism about security. After Paris, however, the share of people opposed to refugees rose to 80 percent.

One idea might be to increase cultural integration. This is based on the “contact hypothesis”: If more Americans have Muslim neighbors, they will learn not to harbor irrational hate. We did not find support for this in the data — in fact, we found evidence for the opposite.

That’s evidence for the dominance of the “racial threat” hypothesis, which predicts that proximity breeds tension, not trust.

Another solution might be for leaders to talk about the importance of tolerance and the irrationality of hatred, as President Obama did in his Oval Office speech last Sunday night. He asked Americans to reject discrimination and religious tests for immigration. The reactions to his speech offer an excellent opportunity to see what works and what doesn’t work.

There was one line, however, that did trigger the type of response Mr. Obama might have wanted. He said, “Muslim Americans are our friends and our neighbors, our co-workers, our sports heroes and yes, they are our men and women in uniform, who are willing to die in defense of our country.”After this line, for the first time in more than a year, the top Googled noun after “Muslim” was not “terrorists,” “extremists” or “refugees.” It was “athletes,” followed by “soldiers.” And, in fact, “athletes” kept the top spot for a full day afterward.

On the whole, though, the response to the president’s speech shows that appealing to the better angels of an angry mob will most likely just backfire.

Sarah Everard in London. Soon Chung Park, Hyun Jung Grant, Suncha Kim, Yong Ae Yue, Delaina Ashley Yaun, Xiaojie Tan and Daoyou Feng in Atlanta.

Eight women, two continents apart, killed in the space of two weeks. The suspects in both cases are men.

London, Ms. Everard disappeared while walking home from a friend’s house, and was found dead a week later. A police officer was charged with kidnapping and murdering her.

In Atlanta, a gunman stormed three massage parlors and shot and killed eight people — seven of them women, six of them Asian — raising speculation that the attack was racially motivated

In the days after Ms. Everard’s body was found and protests calling for deeper social change grew across the United Kingdom

the British government announced an experimental pilot program (though there is no fixed start date yet) that would categorize cases of gender-based violence and harassment motivated by misogyny as hate crimes.

“Across the country, women everywhere are looking to us not just to express sympathy with their concerns, but to act,”

“Stop telling them to stay at home and be careful, and start finding those responsible for the violence.”

In Atlanta, the arrested suspect told the police he had a “sexual addiction,” according to the Cherokee County Sheriff’s Office, prompting some activists to call for him to be charged with a hate crime there, too.

“What can’t be forgotten is the hate crime statute says ‘because of gender’ as well,”

“The angle of misogyny has to be looked at.”

Do ‘sweat the small stuff’

As women around the world watched the two events unfold, they started sharing their own stories on social media of having been in similar situations that had the potential to escalate and turn similarly violent.

Women spoke of all of the things that they — like Ms. Everard — did “right,” including walking on well-lit streets, and talking on the phone or clutching their keys in their pockets while doing so — and described how they still ended up in dangerous situations.

Asian women spoke of all of the ways in which sexism and racism coalesce to expose them to a unique form of harassment that can lead to violence and abuse.

Their stories confirm that violence against women isn’t an aberration, but a “global public health” crisis of “epidemic proportions,”

In the United States, one online survey in 2018 found that 81 percent of women had experienced some kind of sexual harassment during their lifetimes. In the United Kingdom, 97 percent of women aged 18 to 24 said they had been sexually harassed, according to UN Women UK.

These numbers are all from before the coronavirus pandemic; with the onset of the health crisis, domestic abuse surged and public spaces became eerily empty, leaving women feeling increasingly worried about their safety.

Violence against women is consistently underreported because women are scared of retaliation for speaking out or they fear the stigma associated with sexual violence,

UN Women’s initiative to end gender-based violence.

“We’re not joining the dots, nobody is making connections,

“There is a big picture here that we are just repeatedly missing. There are connections between the normalized daily behaviors that we brush off and the more serious abuses.”

a woman recalls that when she was in school, at age 13 or 14, a few girls complained to a teacher that the boys in their class had been groping them and the teacher said that they were “being oversensitive.

In another example, a woman recalls waiting at a bus stop when a man walked up to her and grabbed her bottom but everyone around her who had witnessed the incident remained silent.

a woman recalls how a man sat directly opposite her on the train and touched himself and then got off the train on the next stop, as if nothing had happened.

There is plenty of evidence to suggest that misogyny and gender-based violence are also correlated with broader threats

a spike in gender-based violence — particularly domestic violence — correlates with “rising levels of insecurity in society more broadly.”

A sudden disappearance of girls from schools, for example, could point to a rise of fundamentalist views

“If only we were to listen to women and pay attention to the misogyny and aggression and violence that they deal with on a daily basis.”

As pervasive as sexism, misogyny and gender-based violence are, none are inevitable and they can be countered

“The term ‘violence against women’ is a passive construction — there’s no active agent, it’s a bad thing that happens to women,” he explained, but it’s as if “nobody’s doing it to them.”

“shifts the accountability off of men and the culture that produces them and puts it onto women.”

The second step is recognizing that male aggression against women is a manifestation of a broader systemic problem. “There’s this impulse to pathologize the individual perpetrators — that somehow the individual perpetrator is some monster who just kind of crawled out of the swamp,

“But if you accept the concept that it’s systemic, then there are policy implications and political implications and introspection that can be uncomfortable.

“And how that message plays in the community, how you talk about it, how you have police understand it.”

“Making misogyny a crime is like making racism a crime — it’s unfortunate, it’s ugly and we wish people wouldn’t do it, but you can’t punish somebody for saying something,” he said.

In other words, they’d have to show that the man assaulted her because she’s a woman, which is a tough standard to meet.

In the United States, a crime motivated by gender bias is considered a hate crime at the federal level and in 35 states.

Reporting hate crimes also requires a police force that is trained to appropriately respond to those complaints.

But that would only broaden the powers of law enforcement, which several women’s rights groups argue wouldn’t do much to prompt deeper cultural change.

. Many still felt, according to the survey, that incidents like name calling or groping seemed too normal for the police to take seriously.

“So what’s the point of me going to the police station and sitting there for two hours with a policeman who probably just thinks, ‘Why are you wasting my time?’”

After about a half-hour, he got up, walked over to the cash register, began cursing about Iraq, and threw a chair at a waiter’s head, sending him dazed to the floor.

Portland has been on edge over a sharp increase in hate crimes this year.

As the case unfolded over the summer, it raised questions about what constitutes a hate crime and how effectively the legal system treats combat veterans who suffer from PTSD.

There is no evidence that combat veterans are more prone to committing hate crimes, but studies suggest combat veterans with PTSD commit violent acts at a much higher rate than civilians.

Recent studies have nonetheless pointed to an increase in crimes against some groups following Trump’s White House run and election victory. After years of falling, hate crimes have risen in the last three years. One analysis from the Washington Post found that counties that hosted a Trump rally in 2016 saw a 226% increase in hate crimes. Student surveys from Virginia found higher rates of bullying and teasing in areas that voted for Trump.

Benesch coined the term “dangerous speech” – meaning rhetoric that is used to turn one group of people violently against another – after years of studying speech used to instigate atrocities like the Holocaust.

“He absolutely uses the language of threat,” Benesch said. “He describes non-citizens as ‘invaders’ and as an ‘invasion’ – that is highly characteristic language of dangerous speech.

“It will be only when people have enough courage and love of country to call out dangerous rhetoric on their own side that we will see norms shifting in the right direction,” Benesch said. “It’s a very difficult thing to do.”

my spouse and I, who are both Asian-American, never thought to give her a name like Seohyun or Haeun. Though Korean was the language I spoke growing up in New York with my immigrant parents, I’ve forgotten many of the words I used to know. Yet hearing it spoken still conjures the sense of home.

I had no ambition to teach my daughter Korean, but when she turned 5, she insisted she wanted to learn so she could talk to her halmoni — her grandmother. So I conceded.

On Seollal, the Korean New Year, she and the other girls in her class sported traditional silk outfits. The floor-length skirts flapped to show their patterned leggings underneath, in a church basement that smelled of steamed rice and sesame oil.

Still, I kept asking my daughter when she would try soccer, which seemed to me the “American thing” to do on a Saturday morning. It was held at the same time as Korean School. I kept thinking about the parents on the sidelines and wondered what we were missing

A classmate had written that coronavirus was a problem and that keeping Chinese people out of the country was the solution.

In the summer of 2020, the Stop A.A.P.I. Hate Youth Campaign interviewed 990 Asian-American young adults across the United States about their experiences during the pandemic, and found that one in four had reported experiencing racism in some way

Kids said that they had been bullied, physically harassed and had racial slurs shouted at them

a child who hears a racist remark hears this: “You don’t belong. You’re other. You’re different.”

We are one of only a handful of Asian-American families in our school, which prides itself on teaching about inclusion. Earlier in the year, our daughter came home talking about Malala Yousafzai and Ruby Bridges, asking where we would have been sitting on the bus in times of segregation.

But when a girl in our neighborhood pointed to my daughter and said they could not play together because of the “China virus,” I wept.

During lockdown, we devoured books with Asian-American heroines by authors like Grace Lin and Min Jin Lee

I struggled to find the words to explain to my daughter why Chinese-Americans were forced to live in these barracks; why they were separated from their families.

She doesn’t yet know about the 84-year old man who died two days after being shoved to the sidewalk in Chinatown in San Francisco last month, or about the six Asian-American women killed by a shooter in Atlanta this week.

While attacks on Asian people aren’t always charged as hate crimes, many Asians feel an increasing sense of vulnerability.

Kids begin to develop a sense of racial identity by age 3 or 4, Dr. Yip said.

Once they enter grade school, they hear about race and racism from peers and the media they consume.

“By not talking about race” and what they’re hearing, Dr. Yip said, “you run the risk of intensifying stereotypes” which can then lead to racism.

“We think we’re protecting our kids, by not talking about racist incidents” Dr. Chen added. “But actually not talking about it is not helping.” Building their racial identity is what helps them feel safe.

When a racist incident happens to your child, Dr. Chen said, don’t jump into solving the problem. First ask how they feel and listen. Tell them you don’t know all the answers, but you can find solutions together.

Make sure that the children who were targeted know it wasn’t their fault, Dr. Chen added. Role play what you will do if it happens again and tell them, Mom or Dad or your caregivers will keep you safe.

“I’m not sure Asian-American families can avoid ‘the talk’ any longer.” It’s a talk that must include listening to, and coming to understand, all groups who face racial bias.

In hindsight, I now see that Korean School has done more for my family than soccer ever could. It’s a place where my daughter sees she isn’t alone. There are families who look like ours and wrestle with the same questions, about what we will forget, and what we will keep from our immigrant families’ pasts.

My daughter has gone from sewing masks for her bears, to carrying Black Lives Matter posters and voting with me in a presidential election.

Some of the aggressive measures China took to control the epidemic – confining people to their homes, for example — have been described as "draconian" and a violation of civil rights, even if they ultimately proved effective.

According to Abraar Karan, a doctor at the Brigham and Women's Hospital and Harvard Medical School, the notion persists in global health that "the West is the best."

Some public health practitioners say the global health system is partially responsible for perpetuating these ideas.

According to a separate report by the Center for the Study of Hate and Extremism, anti-Asian hate crimes in 16 U.S. cities increased 149 percent in 2020, from 49 to 122.

"What you're seeing in the U.S. is this pre-existing, deep-seated bias [against Asians and Asian Americans] – or rather, racism – that is now surfacing," says D'Silva. "COVID-19 is just an excuse."

there's a sense among Western health workers that epidemics occur in impoverished contexts because the people there engage in primitive behaviors and just don't care as much about health.

"[Western health workers] come in with a bias that in San Francisco or Boston, we would never let [these crises] happen,"

doctors initially only considered a possible COVID-19 diagnosis among people who had recently flown back from China. That narrow focus caused the U.S. to misdiagnose patients who presented with what we now call classic COVID symptoms simply because they hadn't traveled from China.

In the case of COVID-19 and other outbreaks, Western countries often think of them as a national security issue, closing borders and blaming the countries where the disease was first reported. This approach encourages stigmatization, he says.

reframing the discussion to focus on global solidarity, which promotes the idea that we are all in this together.

the global health community – and Western society as a whole – has to discard its deep-rooted mindset of coloniality and tendency to scapegoat others

Instead of blaming Asians for the virus, blame the systems that weren't adequately prepared to respond to a pandemic.

Hate crime reports increased 17 percent in the United States in 2017 according to the FBI, increasing for the third consecutive year.

It is not just LGBTQ+ hate crime that is on the rise. 2018 saw a 99 percent increase in anti-Semitic incidents versus 2015, according to the Anti-Defamation League. When it strictly came to race/ethnicity/ancestry motivated crimes, the increase was 18.4 percent between 2016 and 2017. It is a dangerous time if you are not a cisgender, white, Christian in America, but that is not new.

A hundred years ago, in 1920, the National Socialist German Workers’ (Nazi) Party was founded in Germany. It started a generation of Germans that came of age around World War II, meaning they were young adults in 1939.

The Nazis held a rally in New York City, where they were protected from protesters by the NYPD. This occurred a full six years after the concentration camps started in Germany. American history sometimes casually likes to omit those events in its recounting of World War II. Americans were undoubtedly the good guys of World War II, saving many countries and millions of people worldwide from fascism, but it has also done a poor job at ensuring these fascists ideas stay out of the country in recent years.

The Anti-Defamation League says it like it is: Anti-Semitism in the U.S. is as bad as it was in the 1930s

This is not really surprising. History repeats itself. And people forget about history.

How can we protect history and avoid making the same mistakes we made in the past when we forget what happened?

In the same survey, 93 percent of respondents said that students should learn about the Holocaust in school. Americans understand the importance of passing down the knowledge of this dark past, but we have a government that still refuses to condemn groups promoting the same ideas that tore the world apart 80 years ago.

Those events took so many lives, led to a collective awakening to the plight of the Jewish people and now, 80 years later, we are falling back into old patterns.

Instead she stayed and would then escalate what Christian Cooper said had been a polite request into a conflict. That's an odd reaction for someone scared for her life.

Yet she walked toward him quickly, filling the video screen as she reaches toward his phone camera, with dog leash and her own phone in hand. He asked her to back away: "please don't come close to me," he said twice in a calm, firm voice.

"I'm going to tell them there's an African American man threatening my life." Christian Cooper responded, telling her to "please tell them whatever you like." And so she does: "There's a man, African American, he has a bicycle helmet," she said into her phone, her tone breathless and urgent. "He is recording me and threatening me and my dog."

"I'm being threatened by a man in the Ramble!" she cried into the phone. "Please send the cops immediately!"

Amy Cooper's decision to summon the police against a man who did nothing more than ask her to follow the rules reads as nothing short of a potential threat to his life.

She, a white woman (and she didn't have to even say that explicitly; she knew it would be grasped by whoever had answered the phone) would be seen as vulnerable and in need of protection, and her story would be believed on its face; he, a black man, would be seen as menacing and potentially dangerous, and his version of events would be doubted or disregarded.

Ahmaud Arbery, a black man in Georgia, was just out for a run last February when, authorities say, Gregory and Travis McMichael, two white men (one of them a former police officer, as it happened), grabbed their guns, chased him down, and shot him to death. They faced no criminal penalties and were simply let off the hook until a video emerged of their attack, and public outcry forced law enforcement to act. (The two have not been asked by a judge for a plea, and attorneys for the men have told reporters they committed no crimes, according to CNN reporting.) Without the video, the wheels of justice would likely never have even begun to turn.

We see again and again that African Americans who are victims of serious crimes need unimpeachable video evidence to be believed. Overwhelmingly, though, crimes are not caught on video. And even when they are, we have seen repeatedly that law enforcement often doesn't act until they are compelled by a huge public outcry. Without reliably fair law enforcement, there are simply few avenues for justice.

To be sure, it's easy to find legitimate criticism of Twitter "justice." But this only raises the more important question of why our formal mechanisms for justice are so often so inept at providing justice across racial lines -- why the very people and institutions we should be able to trust are instead often threats to the lives and safety of African Americans. When calling the cops is understood as a threat to a black person -- and sometimes even a threat to that person's life-- that's not just an indictment of the cop-caller, that's an indictment of the police, of prosecutors, of juries and of too many in a white American public willing to accept this reality.

Amy Cooper has issued an apology (she told CNN she wanted to "publicly apologize to everyone"), but in explaining her egregious actions, said "I'm not a racist. I did not mean to harm that man in any way." How do you not mean to harm someone when you call the police and falsely claim he is threatening you? "I think I was just scared," Amy Cooper said. "When you're alone in the Ramble, you don't know what's happening. It's not excusable, it's not defensible."

Her woe-is-me complaints are a bit hard to swallow given her own actions, which could have damaged or destroyed the life of an innocent man.

let's keep our eyes on the prize: a justice system that works, rather than one which so often accepts the word of white people at the expense of black lives and freedom.

He tries to break free of narrow specialization and cross the boundaries between scientific disciplines. Expeditions beyond economics’ borders and its connection to history, philosophy, psychology, and ancient myths are not only refreshing, but necessary for understanding the world of the twenty-first century.

Reality is spun from stories, not from material. Zdeněk Neubauer

Before it was emancipated as a field, economics lived happily within subsets of philosophy—ethics, for example—miles away from today’s concept of economics as a mathematical-allocative science that views “soft sciences” with a scorn born from positivistic arrogance. But our thousand-year “education” is built on a deeper, broader, and oftentimes more solid base. It is worth knowing about.

The study of the history of a certain field is not, as is commonly held, a useless display of its blind alleys or a collection of the field’s trials and errors (until we got it right), but history is the fullest possible scope of study of a menu that the given field can offer.

History of thought helps us to get rid of the intellectual brainwashing of the age, to see through the intellectual fashion of the day, and to take a couple of steps back.

“The separation between the history of a science, its philosophy, and the science itself dissolves into thin air, and so does the separation between science and non-science; differences between the scientific and unscientific are vanishing.”

we seek to chart the development of the economic ethos. We ask questions that come before any economic thinking can begin—both philosophically and, to a degree, historically. The area here lies at the very borders of economics—and often beyond. We may refer to this as protoeconomics (to borrow a term from protosociology) or, perhaps more fittingly, metaeconomics (to borrow a term from metaphysics).

stories; Adam Smith believed. As he puts it in The Theory of Moral Sentiments, “the desire of being believed, or the desire of persuading, of leading and directing other people, seems to be one of the strongest of all our natural desires.”

“The human mind is built to think in terms of narratives … in turn, much of human motivation comes from living through a story of our lives, a story that we tell to ourselves and that creates a framework of our motivation. Life could be just ‘one damn thing after another’ if it weren’t for such stories. The same is true for confidence in a nation, a company, or an institution. Great leaders are foremost creators of stories.”

contrary to what our textbooks say, economics is predominantly a normative field. Economics not only describes the world but is frequently about how the world should be (it should be effective, we have an ideal of perfect competition, an ideal of high-GDP growth in low inflation, the effort to achieve high competitiveness …). To this end, we create models, modern parables,

I will try to show that mathematics, models, equations, and statistics are just the tip of the iceberg of economics; that the biggest part of the iceberg of economic knowledge consists of everything else; and that disputes in economics are rather a battle of stories and various metanarratives than anything else.

That is the reason for this book: to look for economic thought in ancient myths and, vice versa, to look for myths in today’s economics.

is a paradox that a field that primarily studies values wants to be value-free. One more paradox is this: A field that believes in the invisible hand of the market wants to be without mysteries.

The History of Animal Spirits: Dreams Never Sleep

The more important elements of a culture or field of inquiry such as economics are found in fundamental assumptions that adherents of all the various systems within the epoch unconsciously presuppose. Such assumptions appear so obvious that people do not know what they are assuming, because no other way of putting things has ever occurred to them, as the philosopher Alfred Whitehead notes in Adventures of Ideas.

I argue that economic questions were with mankind long before Adam Smith. I argue that the search for values in economics did not start with Adam Smith but culminated with him.

We should go beyond economics and study what beliefs are “behind the scenes,” ideas that have often become the dominant yet unspoken assumptions in our theories. Economics is surprisingly full of tautologies that economists are predominantly unaware of. I

argue that economics should seek, discover, and talk about its own values, although we have been taught that economics is a value-free science. I argue that none of this is true and that there is more religion, myth, and archetype in economics than there is mathematics.

In a way, this is a study of the evolution of both homo economicus and, more importantly, the history of the animal spirits within him. This book tries to study the evolution of the rational as well as the emotional and irrational side of human beings.

I argue that his most influential contribution to economics was ethical. His other thoughts had been clearly expressed long before him, whether on specialization, or on the principle of the invisible hand of the market. I try to show that the principle of the invisible hand of the market is much more ancient and developed long before Adam Smith. Traces of it appear even in the Epic of Gilgamesh, Hebrew thought, and in Christianity, and it is expressly stated by Aristophanes and Thomas Aquinas.

This is not a book on the thorough history of economic thought. The author aims instead to supplement certain chapters on the history of economic thought with a broader perspective and analysis of the influences that often escape the notice of economists and the wider public.

Progress (Naturalness and Civilization)

The Economy of Good and Evil

from his beginnings, man has been marked as a naturally unnatural creature, who for unique reasons surrounds himself with external possessions. Insatiability, both material and spiritual, are basic human metacharacteristics, which appear as early as the oldest myths and stories.

the Hebrews, with linear time, and later the Christians gave us the ideal (or amplified the Hebrew ideal) we now embrace. Then the classical economists secularized progress. How did we come to today’s progression of progress, and growth for growth’s sake?

The Need for Greed: The History of Consumption and Labor

Metamathematics From where did economics get the concept of numbers as the very foundation of the world?

mathematics at the core of economics, or is it just the icing of the cake, the tip of the iceberg of our field’s inquiry?

idea that we can manage to utilize our natural egoism, and that this evil is good for something, is an ancient philosophical and mythical concept. We will also look into the development of the ethos of homo economicus, the birth of “economic man.”

All of economics is, in the end, economics of good and evil. It is the telling of stories by people of people to people. Even the most sophisticated mathematical model is, de facto, a story, a parable, our effort to (rationally) grasp the world around us.

Masters of the Truth

Originally, truth was a domain of poems and stories, but today we perceive truth as something much more scientific, mathematical. Where does one go (to shop) for the truth? And who “has the truth” in our epoch?

Our animal spirits (something of a counterpart to rationality) are influenced by the archetype of the hero and our concept of what is good.

The entire history of ethics has been ruled by an effort to create a formula for the ethical rules of behavior. In the final chapter we will show the tautology of Max Utility, and we will discuss the concept of Max Good.

The History of the Invisible Hand of the Market and Homo Economicus

We understand “economics” to mean a broader field than just the production, distribution, and consumption of goods and services. We consider economics to be the study of human relations that are sometimes expressible in numbers, a study that deals with tradables, but one that also deals with nontradables (friendship, freedom, efficiency, growth).

When we mention economics in this book, we mean the mainstream perception of it, perhaps as best represented by Paul Samuelson.

By the term homo economicus, we mean the primary concept of economic anthropology. It comes from the concept of a rational individual, who, led by narrowly egotistical motives, sets out to maximize his benefit.

the Epic of Gilgamesh bears witness to the opposite—despite the fact that the first written clay fragments (such as notes and bookkeeping) of our ancestors may have been about business and war, the first written story is mainly about great friendship and adventure.

is a story of nature and civilization, of heroism, defiance, and the battle against the gods, and evil; an epic about wisdom, immortality, and also futility.

Even today we live in Gilgamesh’s vision that human relations—and therefore humanity itself—are a disturbance to work and efficiency; that people would perform better if they did not “waste” their time and energy on nonproductive things.

But it is in friendship where—often by-the-way, as a side product, an externality—ideas and deeds are frequently performed or created that together can altogether change the face of society.19 Friendship can go against an ingrained system in places where an individual does not have the courage to do so himself or herself.

started with Babylonians—rural nature becomes just a supplier of raw materials, resources (and humans the source of human resources). Nature is not the garden in which humans were created and placed, which they should care for and which they should reside in, but becomes a mere reservoir for natural (re)sources.

To be human seems to be somewhere in between, or both of these two. We

The entire history of culture is dominated by an effort to become as independent as possible from the whims of nature.39 The more developed a civilization is, the more an individual is protected from nature and natural influences and knows how to create around him a constant or controllable environment to his liking.

The epic captures one of the greatest leaps in the development of the division of labor. Uruk itself is one of the oldest cities of all, and in the epic it reflects a historic step forward in specialization—in the direction of a new social city arrangement. Because of the city wall, people in the city can devote themselves to things other than worrying about their own safety, and they can continue to specialize more deeply.

“The chief thing which the common-sense individual wants is not satisfactions for the wants he had, but more, and better wants.”47

If a consumer buys something, theoretically it should rid him of one of his needs—and the aggregate of things they need should be decreased by one item. In reality, though, the aggregate of “I want to have” expands together with the growing aggregate of “I have.”

the Old Testament, this relationship is perceived completely differently. Man (humanity) is created in nature, in a garden. Man was supposed to care for the Garden of Eden and live in harmony with nature and the animals. Soon after creation, man walks naked and is not ashamed, de facto the same as the animals. What is characteristic is that man dresses (the natural state of creation itself is not enough for him), and he (literally and figuratively) covers52 himself—in shame after the fall.53

Nature is where one goes to hunt, collect crops, or gather the harvest. It is perceived as the saturator of our needs and nothing more. One goes back to the city to sleep and be “human.” On the contrary, evil resides in nature. Humbaba lives in the cedar forest, which also happens to be the reason to completely eradicate it.

Symbolically, then, we can view the entire issue from the standpoint of the epic in the following way: Our nature is insufficient, bad, evil, and good (humane) occurs only after emancipation from nature (from naturalness), through culturing and education. Humanity is considered as being in civilization.

The city was frequently (at least in older Jewish writings) a symbol of sin, degeneration, and decadence—nonhumanity. The Hebrews were originally a nomadic nation, one that avoided cities. It is no accident that the first important city57 mentioned in the Bible is proud Babylon,58 which God later turns to dust.

is enough, for example, to read the Book of Revelation to see how the vision of paradise developed from the deep Old Testament period, when paradise was a garden. John describes his vision of heaven as a city—paradise is in New Jerusalem, a city where the dimensions of the walls(!) are described in detail, as are the golden streets and gates of pearl.

Hebrews later also chose a king (despite the unanimous opposition of God’s prophets) and settled in cities, where they eventually founded the Lord’s Tabernacle and built a temple for Him. The city of Jerusalem later gained an illustrious position in all of religion.

this time Christianity (as well as the influence of the Greeks) does not consider human naturalness to be an unambiguous good, and it does not have such an idyllic relationship to nature as the Old Testament prophets.

If a tendency toward good is not naturally endowed in people, it must be imputed from above through violence or at least the threat of violence.

If we were to look at human naturalness as a good, then collective social actions need a much weaker ruling hand. If people themselves have a natural tendency (propensity) toward good, this role does not have to be supplied by the state, ruler, or, if you wish, Leviathan.

How does this affect economics?

us return for the last time to the humanization of the wild Enkidu, which is a process we can perceive with a bit of imagination as the first seed of the principle of the market’s invisible hand, and therefore the parallels with one of the central schematics of economic thinking.

Sometimes it is better to “harness the devil to the plow” than to fight with him. Instead of summoning up enormous energy in the fight against evil, it is better to use its own energy to reach a goal we desire; setting up a mill on the turbulent river instead of futile efforts to remove the current. This is also how Saint Prokop approached it in one of the oldest Czech legends.

Enkidu caused damage and it was impossible to fight against him. But with the help of a trap, trick, this evil was transformed into something that greatly benefited civilization.

By culturing and “domesticating” Enkidu, humanity tamed the uncontrollable wild and chaotic evil

Enkidu devastated the doings (the external, outside-the-walls) of the city. But he was later harnessed and fights at the side of civilization against nature, naturalness, the natural state of things.

A similar story (reforming something animally wild and uncultivated in civilizational achievement) is used by Thomas Aquinas in his teachings. Several centuries later, this idea is fully emancipated in the hands of Bernard Mandeville and his Fable of the Bees: or, Private Vices, Publick Benefits. The economic and political aspects of this idea are—often incorrectly—ascribed to Adam Smith.

Here the individual does not try anymore to maximize his goods or profits, but what is important is writing his name in human memory in the form of heroic acts or deeds.

immortality, one connected with letters and the cult of the word: A name and especially a written name survives the body.”77

After this disappointment, he comes to the edge of the sea, where the innkeeper Siduri lives. As tonic for his sorrow, she offers him the garden of bliss, a sort of hedonistic fortress of carpe diem, where a person comes to terms with his mortality and at least in the course of the end of his life maximizes earthly pleasures, or earthly utility.

In the second stage, after finding his friend Enkidu, Gilgamesh abandons the wall and sets out beyond the city to maximalize heroism. “In his (…) search of immortal life, Gilgamesh

The hero refuses hedonism in the sense of maximizing terrestrial pleasure and throws himself into things that will exceed his life. In the blink of an eye, the epic turns on its head the entire utility maximization role that mainstream economics has tirelessly tried to sew on people as a part of their nature.81

today remember Gilgamesh for his story of heroic friendship with Enkidu, not for his wall, which no longer reaches monumental heights.

the eleventh and final tablet, Gilgamesh again loses what he sought. Like Sisyphus, he misses his goal just before the climax

The very existence of questions similar to today’s economic ones can be considered as the first observation. The first written considerations of the people of that time were not so different from those today. In other words: The epic is understandable for us, and we can identify with it.

We have also been witnesses to the very beginnings of man’s culturing—a great drama based on a liberation and then a distancing from the natural state.

Let us take this as a memento in the direction of our restlessness, our inherited dissatisfaction and the volatility connected to it. Considering that they have lasted five thousand years and to this day we find ourselves in harmony with a certain feeling of futility, perhaps these characteristics are inherent in man.

with the phenomenon of the creation of the city, we have seen how specialization and the accumulation of wealth was born, how holy nature was transformed into a secular supplier of resources, and also how humans’ individualistic ego was emancipated.

For small acts (hunting together, work in a factory), small love is enough: Camaraderie. For great acts, however, great love is necessary, real love: Friendship. Friendship that eludes the economic understanding of quid pro quo. Friendship gives. One friend gives (fully) for the other. That is friendship for life and death,

less a civilized, city person is dependent on nature, the more he or she is dependent on the rest of society. Like Enkidu, we have exchanged nature for society; harmony with (incalculable) nature for harmony with (incalculable) man.

human nature good or evil? To this day these questions are key for economic policy: If we believe that man is evil in his nature, therefore that a person himself is dog eat dog (animal), then the hard hand of a ruler is called for. If we believe that people in and of themselves, in their nature, gravitate toward good, then it is possible to loosen up the reins and live in a society that is more laissez-faire.

For a concept of historical progress, for the undeification of heroes, rulers, and nature, mankind had to wait for the Hebrews.

Because nature is not undeified, it is beyond consideration to explore it, let alone intervene in it (unless a person was a two-thirds god like Gilgamesh). It

As early as the “dark” ages, the Jews commonly used economic tools that were in many ways ahead of their time and that later became key elements of the modern economy:

Gilgamesh’s story ends where it began. There is a consistency in this with Greek myths and fables: At the end of the story, no progress occurs, no essential historic change; the story is set in indefinite time, something of a temporal limbo.

For a nation originally based on nomadism, where did this Jewish business ethos come from? And can the Hebrews truly be considered as the architects of the values that set the direction of our civilization’s economic thought?

PROGRESS: A SECULARIZED RELIGION One of the things the writers of the Old Testament gave to mankind is the idea and notion of progress. The Old Testament stories have their development; they change the history of the Jewish nation and tie in to each other. The Jewish understanding of time is linear—it has a beginning and an end.

The observance of God’s Commandments in Judaism leads not to some ethereal other world, but to an abundance of material goods (Genesis 49:25–26, Leviticus 26:3–13, Deuteronomy 28:1–13) (…) There are no accusing fingers pointed at

There are no echoes of asceticism nor for the cleansing and spiritual effect of poverty. It is fitting therefore, that the founders of Judaism, the Patriarchs Abraham, Isaac and Jacob, were all wealthy men.12

about due to a linear understanding of history. If history has a beginning as well as an end, and they are not the same point, then exploration suddenly makes sense in areas where the fruits are borne only in the next generation.

however, the idea of progress itself underwent major changes, and today we perceive it very differently. As opposed to the original spiritual conceptions, today we perceive progress almost exclusively in an economic or scientific-technological sense.

Because care for the soul has today been replaced by care for external things,

This is why we must constantly grow, because we (deep down and often implicitly) believe that we are headed toward an (economic) paradise on Earth.

Only since the period of scientific-technological revolution (and at a time when economics was born as an independent field) is material progress automatically assumed.

Jewish thought is the most grounded, most realistic school of thought of all those that have influenced our culture.17 An abstract world of ideas was unknown to the Jews. To this day it is still forbidden to even depict God, people, and animals in symbols, paintings, statues, and drawings.

economists have become key figures of great importance in our time (Kacířské eseje o filosofii dějin [Heretical Essays in the Philosophy of History]). They are expected to perform interpretations of reality, give prophetic services (macroeconomic forecasts), reshape reality (mitigate the impacts of the crisis, speed up growth), and, in the long run, provide leadership on the way to the Promised Land—paradise on Earth.

REALISM AND ANTIASCETICISM Aside from ideas of progress, the Hebrews brought another very fundamental contribution to our culture: The desacralization of heroes, nature, and rulers.

Voltaire writes: “It certain fact is, that in his public laws he [Moses] never so much as once made mention of a life to come, limiting all punishments and all rewards to the present life.”21

As opposed to Christianity, the concept of an extraterrestrial paradise or heaven was not developed much in Hebrew thought.19 The paradise of the Israelites—Eden—was originally placed on Earth at a given place in Mesopotamia20 and at a given time,

The Hebrews consider the world to be real—not just a shadow reflection of a better world somewhere in the cloud of ideas, something the usual interpretation of history ascribes to Plato. The soul does not struggle against the body and is not its prisoner, as Augustine would write later.

The land, the world, the body, and material reality are for Jews the paramount setting for divine history, the pinnacle of creation. This idea is the conditio sine qua non of the development of economics, something of an utterly earthly making,

The mythology of the hero-king was strongly developed in that period, which Claire Lalouette summarizes into these basic characteristics: Beauty (a perfect face, on which it is “pleasant to look upon,” but also “beauty,” expressed in the Egyptian word nefer, not only means aesthetics, but contains moral qualities as well),

THE HERO AND HIS UNDEIFICATION: THE DREAM NEVER SLEEPS The concept of the hero is more important than it might appear. It may be the remote origin of Keynes’s animal spirits, or the desire to follow a kind of internal archetype that a given individual accepts as his own and that society values.

This internal animator of ours, our internal mover, this dream, never sleeps and it influences our behavior—including economic behavior—more than we want to realize.

Anthropology knows several archetypes of heroes. The Polish-born American anthropologist Paul Radin examined the myths of North American Indians and, for example, in his most influential book, The Trickster, he describes their four basic archetypes of heroes.

The Torah’s heroes (if that term can be used at all) frequently make mistakes and their mistakes are carefully recorded in the Bible—maybe precisely so that none of them could be deified.32

the Hebrew heroes correspond most to the Tricksters, the Culture Bearers, and the Twins. The divine muscleman, that dominant symbol we think of when we say hero, is absent here.

Undeification, however, does not mean a call to pillage or desecration; man was put here to take care of nature (see the story of the Garden of Eden or the symbolism of the naming of the animals). This protection and care of nature is also related to the idea of progress

For the heroes who moved our civilization to where it is today, the heroic archetypes of the cunning trickster, culture bearer, and sufferer are rather more appropriate.

the Old Testament strongly emphasizes the undeification of nature.37 Nature is God’s creation, which speaks of divinity but is not the domain of moody gods

in an Old Testament context, the pharaoh was a mere man (whom one could disagree with, and who could be resisted!).

RULERS ARE MERE MEN In a similar historical context, the Old Testament teachings carried out a similar desacralization of rulers, the so-called bearers of economic policy.

Ultimately the entire idea of a political ruler stood against the Lord’s will, which is explicitly presented in the Torah. The Lord unequivocally preferred the judge as the highest form of rule—an

The needs of future generations will have to be considered; after all humankind are the guardians of God’s world. Waste of natural resources, whether privately owned or nationally owned is forbidden.”39

Politics lost its character of divine infallibility, and political issues were subject to questioning. Economic policy could become a subject of examination.

44 God first creates with the word and then on individual days He divides light from darkness, water from dry land, day from night, and so forth—and He gives order to things.45 The world is created orderly— it is wisely, reasonably put together. The way of the world is put together at least partially46 decipherably by any other wise and reasonable being who honors rational rules.

THE PRAISE OF ORDER AND WISDOM: MAN AS A PERFECTER OF CREATION The created world has an order of sorts, an order recognizable by us as people,

From the very beginning, when God distances Himself from the entire idea, there is an anticipation that there is nothing holy, let alone divine, in politics. Rulers make mistakes, and it is possible to subject them to tough criticism—which frequently occurs indiscriminately through the prophets in the Old Testament.

Hebrew culture laid the foundations for the scientific examination of the world.

Examining the world is therefore an absolutely legitimate activity, and one that is even requested by God—it is a kind of participation in the Creator’s work.51 Man is called on to understand himself and his surroundings and to use his knowledge for good.

The Book of Proverbs emphasizes specifically several times that it was wisdom that was present at the creation of the world. Wisdom personified calls out:

The last act, final stroke of the brush of creation, naming of the animals—this act is given to a human, it is not done by God, as one would expect. Man was given the task of completing the act of creation that the Lord began:

MAN AS A FINISHER OF CREATION The creation of the world, as it is explained in Jewish teachings, is described in the Book of Genesis. Here God (i) creates, (ii) separates, and (iii) names [my emphasis]:

Naming is a symbolic expression. In Jewish culture (and also in our culture to this day), the right to name meant sovereign rights and belonged, for example, to explorers (new places), inventors (new principles), or parents (children)—that is, to those who were there at the genesis, at the origin. This right was handed over by God to mankind.

The Naming itself (the capital N is appropriate) traditionally belongs to the crowning act of the Creator and represents a kind of grand finale of creation, the last move of the brush to complete the picture—a signature of the master.

Without naming, reality does not exist; it is created together with language. Wittgenstein tightly names this in his tractatus—the limits of our language are the limits of our world.53

Reality is not a given; it is not passive. Perceiving reality and “facts” requires man’s active participation. It is man who must take the last step, an act (and we

A real-ization act on our part represents the creation of a construct, the imputation of sense and order (which is beautifully expressed by the biblical act of naming, or categorization, sorting, ordering).

God connects man with the task of guarding and protecting the Garden of Eden, and thus man actually cocreates the cultural landscape. The Czech philosopher Zdeněk Neubauer also describes this: “Such is reality, and it is so deep that it willingly crystallizes into worlds. Therefore I profess that reality is a creation and not a place of occurrence for objectively given phenomena.”61

The Jews believed the exact opposite. The world is created by a good God, and evil appears in it as a result of immoral human acts. Evil, therefore, is induced by man.66 History unwinds according to the morality of human acts.

GOOD AND EVIL IN US: A MORAL EXPLANATION OF WELL-BEING We have seen that in the Epic of Gilgamesh, good and evil are not yet addressed systematically on a moral level.

the epic, good and evil are not envisaged morally—they are not the result of an (a)moral act. Evil was not associated with free moral action or individual will.

Hebrew thought, on the other hand, deals intensively with moral good and evil. A moral dimension touches the core of its stories.65

discrepancy between savings and investment, and others are convinced of the monetary essence

The entire history of the Jewish nation is interpreted and perceived in terms of morality. Morality has become, so to speak, a mover and shaker of Hebrew history.

sunspots. The Hebrews came up with the idea that morals were behind good and bad years, behind the economic cycle. But we would be getting ahead of ourselves. Pharaoh’s Dream: Joseph and the First Business Cycle To

It is the Pharaoh’s well-known dream of seven fat and seven lean cows, which he told to Joseph, the son of Jacob. Joseph interpreted the dream as a macroeconomic prediction of sorts: Seven years of abundance were to be followed by seven years of poverty, famine, and misery.

Self-Contradicting Prophecy Here, let’s make several observations on this: Through taxation74 on the level of one-fifth of a crop75 in good years to save the crop and then open granaries in bad years, the prophecy was de facto prevented (prosperous years were limited and hunger averted—through a predecessor of fiscal stabilization).

The Old Testament prophesies therefore were not any deterministic look into the future, but warnings and strategic variations of the possible, which demanded some kind of reaction. If the reaction was adequate, what was prophesied would frequently not occur at all.

If the threat is anticipated, it is possible to totally or at least partially avoid it. Neither Joseph nor the pharaoh had the power to avoid bounty or crop failure (in this the dream interpretation was true and the appearance of the future mystical), but they avoided the impacts and implications of the prophecy (in this the interpretation of the dream was “false”)—famine did not ultimately occur in Egypt, and this was due to the application of reasonable and very intuitive economic policy.

Let us further note that the first “macroeconomic forecast” appears in a dream.

back to Torah: Later in this story we will notice that there is no reason offered as to why the cycle occurs (that will come later). Fat years will simply come, and then lean years after them.

Moral Explanation of a Business Cycle That is fundamentally different from later Hebrew interpretations, when the Jewish nation tries to offer reasons why the nation fared well or poorly. And those reasons are moral.

Only in recent times have some currents of economics again become aware of the importance of morals and trust in the form of measuring the quality of institutions, the level of justice, business ethics, corruption, and so forth, and examining their influence on the economy,

it is not within the scope of this book to answer that question; justice has been done to the question if it manages to sketch out the main contours of possible searches for answers.

THE ECONOMICS OF GOOD AND EVIL: DOES GOOD PAY OFF? This is probably the most difficult moral problem we could ask.

Inquiring about the economics of good and evil, however, is not that easy. Where would Kant’s “moral dimension of ethics” go if ethics paid? If we do good for profit, the question of ethics becomes a mere question of rationality.

He remains righteous, even if his only reward is death. What economic advantage could he have from that?

morals cannot be considered in the economic dimension of productivity and calculus. The role of the Hebrews was to do good, whether it paid off or not. If good (outgoing) is rewarded by incoming goodness, it is a bonus,99 not a reason to do outgoing good. Good and reward do not correlate to each other.

This reasoning takes on a dimension of its own in the Old Testament. Good (incoming) has already happened to us. We must do good (outgoing) out of gratitude for the good (incoming) shown to us in the past.

So why do good? After all, suffering is the fate of many biblical figures. The answer can only be: For good itself. Good has the power to be its own reward. In this sense, goodness gets its reward, which may or may not take on a material dimension.

the Hebrews offered an interesting compromise between the teachings of the Stoics and Epicureans. We will go into it in detail later, so only briefly

constraint. It calls for bounded optimalization (with limits). A kind of symbiosis existed between the legitimate search for one’s own utility (or enjoyment of life) and maintaining rules, which are not negotiable and which are not subject to optimalization.

In other words, clear (exogenously given) rules exist that must be observed and cannot be contravened. But within these borders it is absolutely possible, and even recommended, to increase utility.

To Love the Law The Jews not only had to observe the law (perhaps the word covenant would be more appropriate), but they were to love it because it was good.

the principle of doing good (outgoing) on the basis of a priori demonstrated good (incoming) was also taken over by the New Testament. Atonement itself is based on an a priori principle; all our acts are preceded by good.

THE SHACKLES OF THE CITY Owing to the Hebrew’s liberation from Egyptian slavery, freedom and responsibility become the key values of Jewish thought.

Laws given by God are binding for Jews, and God is the absolute source of all values,

The Hebrew ideal is represented by the paradise of the Garden of Eden, not a city.116 The despised city civilization or the tendency to see in it a sinful and shackling way of life appears in glimpses and allusions in many places in the Old Testament.

The nomadic Jewish ethos is frequently derived from Abraham, who left the Chaldean city of Ur on the basis of a command:

This way of life had understandably immense economic impacts. First, such a society lived in much more connected relationships, where there was no doubt that everyone mutually depended on each other. Second, their frequent wanderings meant the inability to own more than they could carry; the gathering up of material assets did not have great weight—precisely because the physical weight (mass) of things was tied to one place.

One of Moses’s greatest deeds was that he managed to explain to his nation once and for all that it is better to remain hungry and liberated than to be a slave with food “at no cost.”

SOCIAL WELFARE: NOT TO ACT IN THE MANNER OF SODOM

regulations is developed in the Old Testament, one we hardly find in any other nation of the time. In Hebrew teachings, aside from individual utility, indications of the concept of maximalizing utility societywide appear for the first time as embodied in the Talmudic principle of Kofin al midat S´dom, which can be translated as “one is compelled not to act in the manner of Sodom” and to take care of the weaker members of society.

In a jubilee year, debts were to be forgiven,125 and Israelites who fell into slavery due to their indebtedness were to be set free.126

Land at the time could be “sold,” and it was not sale, but rent. The price (rent) of real estate depended on how long there was until a forgiveness year. It was about the awareness that we may work the land, but in the last instance we are merely “aliens and strangers,” who have the land only rented to us for a fixed time. All land and riches came from the Lord.

These provisions express a conviction that freedom and inheritance should not be permanently taken away from any Israelite. Last but not least, this system reminds us that no ownership lasts forever and that the fields we plow are not ours but the Lord’s.

Glean Another social provision was the right to glean, which in Old Testament times ensured at least basic sustenance for the poorest. Anyone who owned a field had the responsibility not to harvest it to the last grain but to leave the remains in the field for the poor.

Tithes and Early Social Net Every Israelite also had the responsibility of levying a tithe from their entire crop. They had to be aware from whom all ownership comes and, by doing so, express their thanks.

“Since the community has an obligation to provide food, shelter, and basic economic goods for the needy, it has a moral right and duty to tax its members for this purpose. In line with this duty, it may have to regulate markets, prices and competition, to protect the interests of its weakest members.”135

In Judaism, charity is not perceived as a sign of goodness; it is more of a responsibility. Such a society then has the right to regulate its economy in such a way that the responsibility of charity is carried out to its satisfaction.

With a number of responsibilities, however, comes the difficulty of getting them into practice. Their fulfillment, then, in cases when it can be done, takes place gradually “in layers.” Charitable activities are classified in the Talmud according to several target groups with various priorities, classified according to, it could be said, rules of subsidiarity.

Do not mistreat an alien or oppress him, for you were aliens in Egypt.140 As one can see, aside from widows and orphans, the Old Testament also includes immigrants in its area of social protection.141 The Israelites had to have the same rules apply for them as for themselves—they could not discriminate on the basis of their origin.

ABSTRACT MONEY, FORBIDDEN INTEREST, AND OUR DEBT AGE If it appears to us that today’s era is based on money and debt, and our time will be written into history as the “Debt age,” then it will certainly be interesting to follow how this development occurred.

Money is a social abstractum. It is a social agreement, an unwritten contract.

The first money came in the form of clay tablets from Mesopotamia, on which debts were written. These debts were transferable, so the debts became currency. In the end, “It is no coincidence that in English the root of ‘credit’ is ‘credo,’ the Latin for ‘I believe.’”

To a certain extent it could be said that credit, or trust, was the first currency. It can materialize, it can be embodied in coins, but what is certain is that “money is not metal,” even the rarest metal, “it is trust inscribed,”

Inseparably, with the original credit (money) goes interest. For the Hebrews, the problem of interest was a social issue: “If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest.”

there were also clearly set rules setting how far one could go in setting guarantees and the nonpayment of debts. No one should become indebted to the extent that they could lose the source of their livelihood:

In the end, the term “bank” comes from the Italian banci, or the benches that Jewish lenders sat on.157

Money is playing not only its classical roles (as a means of exchange, a holder of value, etc.) but also a much greater, stronger role: It can stimulate, drive (or slow down) the whole economy. Money plays a national economic role.

In the course of history, however, the role of loans changed, and the rich borrowed especially for investment purposes,

In such a case a ban on interest did not have great ethical significance. Thomas Aquinas, a medieval scholar (1225-1274), also considers similarly; in his time, the strict ban on lending with usurious interest was loosened, possibly due to him.

As a form of energy, money can travel in three dimensions, vertically (those who have capital lend to those who do not) and horizontally (speed and freedom in horizontal or geographic motion has become the by-product—or driving force?—of globalization). But money (as opposed to people) can also travel through time.

money is something like energy that can travel through time. And it is a very useful energy, but at the same time very dangerous as well. Wherever

Aristotle condemned interest162 not only from a moral standpoint, but also for metaphysical reasons. Thomas Aquinas shared the same fear of interest and he too argued that time does not belong to us, and that is why we must not require interest.

MONEY AS ENERGY: TIME TRAVEL AND GROSS DEBT PRODUCT (GDP)

Due to this characteristic, we can energy-strip the future to the benefit of the present. Debt can transfer energy from the future to the present.163 On the other hand, saving can accumulate energy from the past and send it to the present.

labor was not considered degrading in the Old Testament. On the contrary, the subjugation of nature is even a mission from God that originally belonged to man’s very first blessings.

LABOR AND REST: THE SABBATH ECONOMY

The Jews as well as Aristotle behaved very guardedly toward loans. The issue of interest/usury became one of the first economic debates. Without having an inkling of the future role of economic policy (fiscal and monetary), the ancient Hebrews may have unwittingly felt that they were discovering in interest a very powerful weapon, one that can be a good servant, but (literally) an enslaving master as well.

It’s something like a dam. When we build one, we are preventing periods of drought and flooding in the valley; we are limiting nature’s whims and, to a large extent, avoiding its incalculable cycles. Using dams, we can regulate the flow of water to nearly a constant. With it we tame the river (and we can also gain

But if we do not regulate the water wisely, it may happen that we would overfill the dam and it would break. For the cities lying in the valley, their end would be worse than if a dam were never there.

If man lived in harmony with nature before, now, after the fall, he must fight; nature stands against him and he against it and the animals. From the Garden we have moved unto a (battle)field.

Only after man’s fall does labor turn into a curse.168 It could even be said that this is actually the only curse, the curse of the unpleasantness of labor, that the Lord places on Adam.

Both Plato and Aristotle consider labor to be necessary for survival, but that only the lower classes should devote themselves to it so that the elites would not have to be bothered with it and so that they could devote themselves to “purely spiritual matters—art, philosophy, and politics.”

Work is also not only a source of pleasure but a social standing; It is considered an honor. “Do you see a man skilled in his work? He will serve before kings.”170 None of the surrounding cultures appreciate work as much. The idea of the dignity of labor is unique in the Hebrew tradition.

Hebrew thinking is characterized by a strict separation of the sacred from the profane. In life, there are simply areas that are holy, and in which it is not allowed to economize, rationalize, or maximize efficiency.

the message of the commandment on Saturday communicated that people were not primarily created for labor.