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Covid deaths, though always concentrated in older people, have in 2022 skewed toward older people more than they did at any point since vaccines became widely available.

That swing in the pandemic has intensified pressure on the Biden administration to protect older Americans, with health officials in recent weeks encouraging everyone 50 and older to get a second booster and introducing new models of distributing antiviral pills.

But the mortality gap between older and younger people has grown: Middle-aged Americans, who suffered a large share of pandemic deaths last summer and fall, are now benefiting from new stores of immune protection in the population as Covid deaths once again cluster around older people.

among people 65 and older, 13 percent are unvaccinated, 3 percent have a single Moderna or Pfizer shot and another 14 percent are vaccinated but not boosted.

“The government wasn’t sure about the booster shot,” he said. “If they weren’t sure about it, and they’re the ones who put it out, why would I take it?” Mr. Thomas said Covid recently killed a former boss of his and hospitalized an older family friend.

But scientists warned that many older Americans remained susceptible. To protect them, geriatricians called on nursing homes to organize in-home vaccinations or mandate additional shots.

That changed last summer and fall, during the Delta surge. Older people were getting vaccinated more quickly than other groups: By November, the vaccination rate in Americans 65 and older was roughly 20 percentage points higher than that of those in their 40s. And critically, those older Americans had received vaccines relatively recently, leaving them with strong levels of residual protection.

As a result, older people suffered from Covid at lower rates than they had been before vaccines became available. Among people 85 and older, the death rate last fall was roughly 75 percent lower than it had been in the winter of 2020, Dr. Stokes’s recent study found.

The rebalancing of Covid deaths was so pronounced that, among Americans 80 and older, overall deaths returned to prepandemic levels in 2021, according to a study posted online in February.

“In 2021, you see the mortality impact of the pandemic shift younger,” said Ridhi Kashyap, a lead author of that study and a demographer at the University of Oxford.

For some people, even three vaccine doses appear to become less protective over time against Omicron-related hospital admissions.

During the Omicron wave, Covid death rates were once again dramatically higher for older Americans than younger ones, Dr. Stokes said. Older people also made up an overwhelming share of the excess deaths — the difference between the number of people who actually died and the number who would have been expected to die if the pandemic had never happened.

Long-ago Covid cases do not prevent future infections, but reinfected people are less likely to become seriously ill.

Eventually, her family had to arrange a trip to a pharmacy on their own for a second booster.“It just seems that now the onus is put completely on the individual,” she said. “It’s not like it’s made easy for you.”

For every COVID death, many more older people develop serious illness. Risk increases with age, and people older than 70 “have a substantially higher rate of hospitalizations” than those ages 60 to 69,

Persistent coughs, aches, and joint pain can linger long after serious illness, together with indirect impacts such as loss of muscle strength and flexibility, which can affect older people’s ability to be independent, Rivers said. Older COVID survivors may also have a higher risk of cognitive decline. In some cases, these ailments could be part of long COVID, which may be more prevalent in older people.

The antiviral Paxlovid was supposed to help blunt the wave of old people falling sick and ending up in the hospital—and it can reduce severe disease by 50 to 90 percent. But unfortunately, it is not widely used; as of July, just a third of Americans 80 or older took Paxlovid.

The reality is that as long as the virus continues to be prevalent, older Americans will face these potential outcomes every time they leave their home. That doesn’t mean they will barricade themselves indoors, or that they even should. Still, “every decision that we make now is weighing that balance between risk and socialization,”

Where America has landed is hardly a new way of life but rather one that is simply more onerous. “One way to think about it is that this is a new risk that’s out there” alongside other natural causes of death, such as diabetes and heart failure,

Before the pandemic, the association between loneliness and higher mortality rates, increased cardiovascular risks, and dementia among older adults was already well established. Increased isolation during COVID amplified this association.

Even older adults who have weathered the direct and indirect effects of the pandemic still face other challenges that COVID has exacerbated. Many have long relied on personal caregivers or the staff at nursing facilities. These workers, already scarce before the pandemic, are even more so now because many quit or were affected by COVID themselves

“Long-term care has been in a crisis situation for a long time, but it’s even worse now,” Muramatsu said, noting that many home care workers are older adults themselves

Older people won’t have one single approach to contending with this sad reality. “Everybody is trying to figure out what is the best way to function, to try to have some level of everyday life and activity, but also keep your risk of getting sick as low as possible,”

Again, many of these people did not have it great before the pandemic, even if the rest of the country wasn’t paying attention. “We often don’t provide the basic social support that older people need,” Kenneth Covinsky, a clinician-researcher at the UCSF Division of Geriatrics, said. Rather, ageism, the willful ignorance or indifference to the needs of older people, is baked into American life.

It is perhaps the main reason older adults were so badly affected by the pandemic in the first place, as illustrated by the delayed introduction of safety precautions in nursing homes and the blithe acceptance of COVID deaths among older adults. If Americans couldn’t bring themselves to care at any point over the past three years, will they ever?

Those Democratic grandparents, especially, tend to be more moderate, more swayed by traditional government experience and more keenly focused on the tactics they believe are needed to defeat President Trump, strategists and pollsters said.

“Older voters, after African-American voters, have been the single most important constituency for Joe Biden,” said Celinda Lake, a veteran Democratic pollster and political strategist who works with the Biden team but spoke in her personal capacity.

But politically, the primary results this election season have highlighted the extraordinary, sustained power of older Americans: Exit polls, surveys and interviews with political strategists and demographers show that the concerns and preferences of these voters have played a critical role in defining the trajectory of the Democratic race so far, and are poised to do so in the general election as well.

Certainly, Mr. Sanders, the overwhelming favorite with younger voters, is continuing to campaign. And while the Vermont senator has acknowledged that younger voters did not appear to turn out at the rate he had hoped for, polls and exit surveys show that Mr. Biden faces major challenges with that constituency, a liberal slice of the electorate that, his advisers acknowledge, he will need to energize if he is the nominee.

Even in the midterm elections in 2018, hailed as a high-water mark for youth voting because the share of 18- to 24-year-olds nearly doubled from the previous midterm election, the gap with older voters remained about the same. About 66 percent of eligible older people turned out, compared with about 36 percent of 18- to 24-year-olds, said William Frey, a demographer at the Brookings Institution.

Mr. Biden, who once faced significant competition for older Americans, emerged in recent weeks as the dominant front-runner among those highly committed Democratic voters who have now helped bring him to the cusp of his party’s presidential nomination.Older voters have punched above their political weight for years, with turnout among those 65 and older often double, or more, that of the youngest voters. As Americans age and become more rooted in their communities, political participation tends to rise with their stake in society.

“The irony is that the pattern is about to reverse in the general,” Ms. Lake said, pointing to Mr. Trump’s overall strength with older voters, even as she added that “Donald Trump is despised by younger voters.”

The virus has thrown politics completely, and unpredictably, up in the air. What will happen in Florida’s retirement communities — some of the most vulnerable in the nation to the virus — if Mr. Trump’s push to reopen the country fast comes to pass? It’s a question with potentially partisan implications.

Older people have long leaned Republican. A majority have chosen Republicans in four of the last seven presidential elections, according to Mr. Frey. In recent years they have also become more demographically distinct from the rest of the country: About 78 percent of eligible senior voters are white, compared with just 67 percent of eligible voters in the country as a whole.

This presents a challenge for Mr. Biden, should he win the nomination: how to get younger voters — who did not prefer him to begin with — to turn out for him, while persuading their older counterparts, who tend to choose Republicans, to vote for him over Mr. Trump.

In recent weeks, Mr. Biden has increased his efforts to appeal to younger and more progressive voters, ramping up outreach and embracing portions of proposals from Mr. Sanders and Senator Elizabeth Warren that take aim at the student debt burden.

Older Americans will soon be even more important. Mr. Frey noted that the large “Baby Boom” generation has only just begun entering the older American voting bloc. He has calculated that the number of senior eligible voters will rise to 68 million in 2028 from 47 million in 2016.

But first, there is still a primary contest, and the age gap between Mr. Biden and Mr. Sanders has been on vivid display all year. The senator favored large rallies that attracted devoted young people, while Mr. Biden’s events, even in his strongest states, tended to be smaller, with crowds that tilted older.

Latinos have maintained this type of edge despite generally having lower incomes, less access to health care and a greater prevalence of some chronic health issues, such as diabetes and obesity. Some researchers believe the life expectancy advantage is tied to the fact that many Latino immigrants to the U.S. are younger and healthier than many older Latinos, and have lower rates of smoking.

The researchers used projections of COVID-19 mortality to reach their conclusions, and a follow-up study arrived at similar findings. A CDC analysis showing provisional life expectancy estimates also pointed to a three-year drop in life expectancy for Latinos, and a shrinking gap between Latinos and whites.

Latino subgroups have an array of political and cultural differences. But one cultural norm that cuts across all groups is the primacy of family. Whatever country they’re descended from, it’s not uncommon for Latinos in the U.S. to live in multigenerational households that often include young children, their adult parents and a grandparent or grandparents.When young children and adults – many of whom are essential workers – live with elderly grandparents, “that increases the risk for the older people in the household,” says Dr. Luis Ostrosky, chief of the Division of Infectious Diseases at the McGovern Medical School at UTHealth Houston. “If the younger people in the household contract COVID-19, they may be OK, because younger people have stronger immune systems and tend to be healthier. Older people – who tend to be not as healthy and have chronic diseases – may become severely ill, with increased risk of hospitalization and mortality.”

“Once you put all those together, what you find is you have the disappearing of the Latino paradox,” Saenz says.While older Latinos have continued to have a higher rate of COVID-19 mortality than their white counterparts during each year of the pandemic, the difference in death rates has diminished over time. During the first year of the crisis, Latinos age 65 and older died of COVID-19 at 2.1 times the rate of older whites, Saenz and Garcia’s research shows. In 2021, older Latinos died at 1.6 times the rate of older whites, and into late April of this year, older Hispanics had died at 1.2 times the rate of older whites. Saenz attributes the narrowing difference to COVID-19 death rates among older whites in red states where vaccination rates are lower.

Transportation, language and employment. A study in 2020 from the UCLA Latino Policy & Politics Initiative found Latinos (and Blacks) in Los Angeles County and New York City were roughly twice as likely to die of COVID-19 as non-Hispanic whites as of July 20 of that year, and noted that carpooling or taking public transportation to work may raise the risk of coronavirus exposure. The study also found that 34% and 37% of the populations in Los Angeles County and New York City were foreign-born, respectively, with Latinos making up the largest share of that population in each area. Approximately 13% of the foreign-born do not speak English, according to the report, which poses a challenge to their obtaining important health information.

“A three-year reduction in life expectancy is huge in historical terms. We usually have not seen reductions this large except during times of war or major pandemics,” says Theresa Andrasfay, a postdoctoral scholar at the Leonard Davis School of Gerontology at USC and one of the PNAS study’s researchers. “Of course, it’s really sad to think about the individuals who died of COVID, but it also has broader implications for the family members of those who died.”COVID-19 has not only claimed the lives of many older Latinos, but many younger, working-age Latinos as well, leaving behind children, siblings, parents and grandparents who depended on them, Andrasfay says. She says she and other researchers are working on an update, tracking the effect of COVID-19 on life expectancy in 2021: “We’re finding a similar pattern (to 2020), with Latinos having the largest reduction in life expectancy.”

Though he wasn’t in the best of health, Salvador Macias, 83, enjoyed going to a neighborhood community center for senior activities in Long Beach, a beachside city about 25 miles south of downtown Los Angeles. He lived in a modest, tidy house with his wife, Manuela, and their adult daughter, Julie.Salvador suffered from three chronic health conditions: diabetes, high cholesterol and high blood pressure, says his son, Joe Macias.In August 2020 – four months before health care workers received the first COVID-19 vaccine – the elder Macias became ill with the disease, suffering from fatigue and severe shortness of breath. After several days, Salvador died at home. Manuela, who doesn’t have the chronic health conditions her husband had, also contracted COVID-19. She was hospitalized for a week, but survived.

A 56 percent majority of the younger group of Democrats believes that “Wall Street helps the American economy more than it hurts,” with just 36 percent believing that Wall Street hurts the economy. Older Democrats have almost exactly the opposite view. 56 percent believe that Wall Street hurts the economy; 36 percent believe it helps.

Asked by Pew to choose between two statements — “Racial discrimination is the main reason why many blacks can’t get ahead” and “Blacks who can’t get ahead are mostly responsible for their own condition” – the older Democratic cohort blamed discrimination, by an 80 to 10 margin. In contrast, only 19 percent of the younger group of Democrats blamed discrimination, with 68 percent saying that blacks “are mostly responsible for their own condition.”

Some 91 percent of the older group said the “U.S. needs to continue making changes to give blacks equal rights,” and just 6 percent said the “U.S. has made the changes needed to give blacks equal rights.” 67 percent of the younger group said the United States has done enough for blacks, and 28 percent said that the country needs to do more to give blacks equal rights.

When asked by Reason if they would consider voting for Clinton, 53 percent of those surveyed said yes, and 27 percent said no. Both Joe Biden, the vice president, and Elizabeth Warren, a Democratic senator from Massachusetts, received more yeses than noes.

every one of the prospective Republican presidential candidates pollsters mentioned — Christie, Rand Paul, Paul Ryan, Marco Rubio, Mike Huckabee, Jeb Bush and Bobby Jindal — received more noes than yeses from millennials, by margins ranging from two noes for every yes to four noes for every yes

By a margin of 70-35, millennials in the Reason survey chose “competition is primarily good; it stimulates people to work hard and develop new ideas” over “competition is primarily harmful; it brings out the worst in people.” By 64-25, millennials picked “profit is generally good because it encourages businesses to provide valued products to attract customers” as opposed to “profit is generally bad because it encourages businesses to take advantage of their customers and employees.”

In some other respects, the millennial voters studied by Reason appear to hold orthodox liberal views: they support more spending to help the poor, even if it means higher taxes; government action to guarantee a living wage, enough for everyone to eat and have a place to sleep; and a government guarantee of health insurance. Conversely, majorities of the same voters believe that wealth should be distributed according to achievement as opposed to need, and that “people should be allowed to keep what they produce, even if there are others with greater needs.”

“You may have issue differences within the Democratic Party, but they become irrelevant when confronted by a Republican Party determined to turn elections into cultural conflicts,” Greenberg said in a phone interview. “These differences don’t matter in the context of a Republican party that brings out the commonality of the Democratic Party.”

Money, in Leege’s view, will be likely to trump the demographic trends favoring Democrats. Continue reading the main story 378 Comments Leege raises a fundamental question. The Democratic Party could well gain strength politically as it edges away from economic liberalism to a coalition determined to protect personal liberties from conservative moral constraint.

Corporate America faces a divided Democratic Party, vulnerable to the kind of lobbying pressures that the business elite specializes in. Under this scenario, Wall Street and the Chamber of Commerce will enjoy increased leverage in the policy-making arenas of Congress and the executive branch despite – or even because – of Democratic political success.

Overall, the 2019 European elections were a disappointment for the leaders of the populist right

the far right collectively recorded a net gain of only 13 members in the 751-seat European Parliament.

Young Europeans may worry about the environment, but for four out of five under-25s, it is not their No. 1 or even their No. 2 priority.

a rising proportion of Millennials and Gen Zers identify themselves as left-leaning or centrist.

Millennials and Gen Zers value public services; they worry about racial and other forms of discrimination, as well as about climate change. They are more pro-European than previous generations and more willing to hand over new governing powers to Brussels.

A third of Millennial and Gen Z voters in Europe consider themselves centrists, compared with about a fifth who are on the center left and fewer than a 10th who are far left

Recent national elections point to the same leftward trend among younger voters.

As in urban areas of the United States, rising costs for housing further squeeze the young’s spending power

In Europe, by contrast, the under-30s are more disposed than their parents to view poverty as a result of an individual’s choice. Even as they still support the social contract typical for Europe, whereby the welfare state limits inequality and provides generous public services, they are also less in favor than older generations of fiscal redistribution to reduce inequality

All of this has contributed to a growing generational economic divide

Before the crisis, the under-25s were not much more at risk of poverty than the over-64s. Now they are more than a third as likely to be poor.

The short-run trend is therefore that the old will dominate in European politics. In 2017, for the first time, more than half of the voters in the elections for the German Bundestag were over 50

most of them believe that the private sector is better at creating jobs than the state is, that work contracts should become more flexible, and that competition is good. Indeed, under-25s have a more positive view of globalization than do older cohorts.

in Europe, Millennials and Gen Zers are not fundamentally different from the population as a whole when it comes to immigration. Survey data show that they have a more positive view of immigration (from inside and outside the EU) than do older generations. Almost as much as their parents, however, they want national governments and the EU to take additional measures to fight illegal immigration.

it is worth taking a closer look at the Danish parliamentary elections held in June. The anti-immigration Danish People’s Party plummeted to 8.7 percent from 21.1 percent in 2015. But that was not because voters were frightened by anti-immigration policies. It was because the big center-left and center-right parties co-opted the far right’s agenda

In the 1990s, it was Denmark’s Social Democrats who adopted “Third Way” social and economic policies, sometime before Britain’s Tony Blair and Germany’s Gerhard Schröder. The Danes may once again be taking the lead. Sweden’s governing center-left party has already followed the Danish example by toughening its migration stance.

Postelection surveys show that the CDU is now losing nearly four times as many voters to the Greens as to the AfD. Significantly, the Greens take pride in being the only party to have consistently defended Angela Merkel’s 2015 refugee policy without ifs or buts.

generalizations about European politics are hard to mak

In the U.S., the GDP per capita of the highest-income state (Massachusetts) is roughly twice that of the poorest (Mississippi). In the EU, by contrast, citizens of Luxembourg are more than nine times as rich as Romanians.

There is also much less common history. Growing up in the Soviet Union has left older Estonians, for example, with very different views from older Spaniards, who grew up under Francisco Franco

For many Central and eastern Europeans, the collapse of the Soviet Union was as much about restoring national independence as it was about restoring liberty and democracy. They have little appetite for ceding sovereignty to Brussels

the younger groups on both sides of the former Iron Curtain seem to be converging on some issues, such as their support for democracy and EU integration. Yet this convergence is not visible on all issues.

For younger voters in the EU’s original member states, ethnic and religious variables are much less important in defining citizenship than for their parents. For Central and eastern Europeans, however, where your forebears came from still matters. Indeed, young Hungarians and Croatians tend to associate ancestry with nationality even more than older generations do.

A reverse dynamic is visible in Austria. In 2017, 30 percent of those ages 29 and under voted for the nationalist-right Freedom Party in the parliamentary elections. In May, having been hit by a scandal, the party came in third with the same age group (17 percent), far behind the Greens (28 percent) and the Social Democrats (22 percent).

So why aren’t European young people as receptive to tax-and-redistribute ideas as their American counterparts? Perhaps because they know, from experience, that those policies can’t immediately fix what ails their countries.

he politics of the future in Europe seems unlikely to resemble the politics of generational division in America. The continent is divided in many respects, but it does not face a “generation war.” The gap between the generations seems narrower, the political opportunity to mobilize younger voters less enticing.

The German Greens started out in the 1980s as part of the antinuclear and pacifist movements. They were clearly to the left of the SPD. But in recent years they have moved decidedly to the center ground. Last year Winfried Kretschmann, the Green prime minister of Baden-Württemberg, and conceivably a future German chancellor, published a book with the surprising subtitle For a New Definition of Conservatism. Kretschmann cites Edmund Burke as an inspiration, arguing that the father of conservative thought favored gradual change over revolution.

In the Northeast, where case counts are on the rise, adults will be able to register for appointments starting April 1 in Connecticut and April 2 in New Hampshire. On the opposite coast, California announced Thursday that adults ages 50 and older will be eligible for appointments starting April 1, with individuals 16 and older to follow on April 15.Other states are moving to make more groups eligible ahead of schedule, based on age or underlying conditions.

More states will join that list in the coming days. Starting March 29, for example, eligibility will expand to all adults in places like North Dakota, Louisiana, Ohio and Texas. Minnesota and Indiana will similarly expand access before the end of the month.

Alaska became the first state to make vaccinations available to all adults over the age of 16 earlier this month, followed by Mississippi. Several others have since followed suit, including Arizona, Utah, Indiana, Georgia and West Virginia.

New Jersey's governor said on Friday that people ages 55 and older, individuals over the age of 16 with intellectual and developmental disabilities, higher education employees and other essential workers will qualify starting April 5. Floridians ages 40 and older will be eligible beginning March 29, officials announced Thursday.

According to a map released by the White House COVID-19 Response Team on Friday, four states have yet to confirm plans to expand eligibility ahead of the May 1 deadline: New York, Wyoming, Arkansas and South Carolina, where officials have said they are not on track to hit that threshold until May 3.

Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, said at the briefing that the country has seen an uptick in case counts and hospital admissions, with the most recent 7-day averages showing about 57,000 cases and 4,700 hospitalizations per day, and hospitalizations hovering around 1,000.

Noting the trajectory with concern, she implored listeners to "take this moment very seriously" and continue following public health guidance.

Friday's announcement comes a day after Biden declared a new goal of getting 200 million shots in arms by his 100th day in office, or the end of April. Federal officials said the country hit his initial target of 100 million doses last Friday, which was his 58th day in office.

The U.S. is administering 2.5 million shots a day at its current pace, Zients said, adding that vaccine makers are "setting and hitting targets." Some 27 million doses went to states, tribes and territories this week.

Johnson & Johnson has accelerated production of its single-shot vaccine and is on track to deliver 11 million doses next week. Zients expressed confidence that it will, and, in doing so, meet its goal of 20 million doses for the month of March.

"We need to hang in there for just a little while longer because we can see a time in the next couple of months where we will have a lot more people vaccinated and we will really be able to blunt infection rates," she added.

Covid-19 cases in the country have seen a slight increase, according to Walensky, while a highly contagious -- and potentially more deadly -- variant is circulating.

"If we choose to invest in prevention right now, we will ultimately come out of this pandemic faster and with fewer lives lost," the CDC director said.

"These findings should be a jolt of hope for all of us and to serve as a catalyst for everyone to roll up their sleeves when the vaccine is available," Walensky said.

"You've got to continue to do what we're doing: more vaccinations and continue to do public health measures until we actually do turn the corner."

More than a quarter of Americans have gotten at least one dose of a Covid-19 vaccine, according to CDC data. About 14% of the US population is fully vaccinated.

more than 70% of people 65 and older have received at least one shot.

That 65 and older population has also seen a larger decline in Covid-19 case rates, death rates and hospitalizations than any other age group and now account for a smaller share of total hospitalizations than they did a few months ago, according to an analysis of CDC data.

So while the US is getting closer to turning the corner, it's not there yet.

vaccines have likely already saved at least 40,000 American lives so far

As more states try to get more shots into arms faster, officials have unveiled timelines for expanded eligibility -- and in many cases have set a date for when the vaccines will be open to anyone 16 and older.

Pfizer's vaccine is the only one available for use by people who are 16 and older while the Moderna and Johnson & Johnson vaccines are both authorized for people 18 and older.

"We will get to the point pretty quickly where we're saying, 'OK, now we're into the really hard phase of this where we're down to the population that is not so willing to get the vaccine,'" Freeman said.

"The hesitancy is worrisome not just here, but all across the country, and I expect as a country we'll get to 50% vaccination rate of the population. But we're going to have a harder time getting from 50% to 70%," Arkansas Gov. Asa Hutchinson told CNN earlier this week.

It is an announcement that heeds President Biden’s call for states to speed up their timelines for all adults to be eligible, as most other states already have.

But even as the rollout of vaccinations continues to pick up pace, federal health officials and public health experts have been warning that the country could face a possible fourth surge in coronavirus cases.

Last week, Dr. Rochelle Walensky, the director of the Centers for Disease Control and Prevention, pleaded with Americans to “hold on a little while longer.”

After 2003, Italy became one of the first countries in Europe to put in place a national plan to mitigate the impact of extreme heat, based on the guidelines from the World Health Organization.

“Older people with pre-existing illnesses are more vulnerable,” Andrea Ungar, the president of Italy’s Society of Gerontology and Geriatrics, said in a phone interview. “But poverty and isolation also play a crucial role.”

Europe’s hottest summer on record, in 2003, left more than 70,000 people dead, by some estimates, and since then Italy has only grown older. It has struggled to adapt.

Almost 30 percent of the 61,000 people estimated to have died last summer from extreme heat in Europe were Italians, with age playing a significant factor. The number of Italians over 80 is now about 4.5 million, almost double the number of 20 years ago.

The measures include an alert system to warn people to modify their behavior to safeguard their health

Days like Wednesday, when the heat wave peaked, are marked in red on the daily bulletin that Italy’s Health Ministry issues to warn residents. Television channels periodically broadcast the ministry’s guidelines, advising people to stay indoors during the hottest hours; to wear light clothes and sunscreen; to drink lots of water, eat fresh fruits and avoid coffee and alcoholic beverages; and to be particularly careful when going outside.

The hottest summer on record killed 15,000 in France, the majority of them older people, living alone in city apartments or retirement homes with no air conditioning

Last summer, when successive heat waves hit the country, more than 2,800 French people died, some 80 percent over the age of 75

Even those who don’t need medical aid, assistance remains crucial and, for many vulnerable people, associations like Caritas are still the most reliable weekly help. Ms. Antonelli, the social worker, carried two cases of slightly fizzy water up two flights of stairs for Francesca Azzarita, a 91-year-old who lives alone with nothing to cool herself but a piece of cardboard to use as a fan

The biggest example is higher education. Over the past decade, states have cut college funding by an average of 16 percent per student.

Rather than starting new projects, companies are sitting on big piles of cash or distributing it to their shareholders.

Because the layoff rate has declined since 2000, most older workers have been able to hold on to their jobs. For those who are retired, their income — through a combination of Social Security and 401(k)’s — still outpaces inflation on average.

But many younger workers are struggling to launch themselves into good-paying careers. They then lack the money to buy a first home or begin investing in the stock marke

Given these trends, you’d think the government would be trying to help the young. But it’s not. If anything, federal and state policy is going in the other direction. Medicare and Social Security have been spared from cuts. Programs that benefit younger workers and families have not.

Why is this happening? The main reason is a lack of economic dynamism. Not as many new companies have been forming since 2000 — for reasons that experts don’t totally understand — and existing companies have been expanding at a slower rate.

First, the national debt, while manageable now, is on pace to soar. The primary cause is the cost of health care: Most Americans receive far more in Medicare benefits than they paid in Medicare taxes. The Trump tax cut also plays a role. It is increasing the debt — and it mostly benefits older, affluent households.

Second, the warming planet is likely to cause terrible damage and bring huge costs.

Young Americans favor aggressive action, now, to slow climate change. But the Republican Party — which wins elections with strong support from older voters — has vetoed any such action.

Today’s young Americans will be left to suffer the consequences and bear the costs.

Last week, one of those young Americans — somebody who qualifies as an older millennial — announced that he was running for president: the 37-year-old mayor of South Bend, Ind., Pete Buttigieg. A Navy veteran and Rhodes scholar who’s been praised by Barack Obama, Buttigieg (“BOOT-edge-edge”) is a rising star in Democratic politics

I think his candidacy is important, because it has the potential to influence the entire campaign. Buttigieg kicked off his run by talking about “intergenerational justice” and made clear that he would focus sharply on the future.

the country’s biggest economic problems aren’t about hordes of greedy old people profiting off the young. They’re about an economy that showers much of its bounty on the already affluent, at the expense of most Americans — and of our future. The young pay the biggest price for these inequities.

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

“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.”

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.

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.

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.

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.

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.

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?

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).

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?

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.

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.”

The History of Animal Spirits: Dreams Never Sleep

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.

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.

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.

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.