Tag Archives: environment

An economist’s encounter with contemporary theologians

I went to a Lumen Christi conference last week (may 19-20), a meeting mainly of economists and theologians. The general topic was Catholic social thought and the specific topic was the the environment. At breakfast, I was sitting at a table with three theologians. Somehow it went all wrong and I don’t understand it even after thinking it over.

I mentioned that I had been at the Federal Reserve Bank of Atlanta and had left partly because of dissatisfaction with the increases in regulation after the Financial Crisis of 2007-2008. It seemed that they immediately assumed that I thought there should be no regulation of banks or financial markets.

One of the theologians gave a talk later that day at which he said that people should live in smaller, more densely situated homes, ride bikes instead of drive cars, and in general have a standard of living similar to what they had in the 1950s. He mentioned in particular that he thinks it is a waste to have so many resources devoted to improving phones, for example from the iPhone 5 to iPhone 6. He thinks a house of 1500 square feet should be more than adequate for people and decried McMansions of 3000 square feet. (In Atlanta, it takes more like 5 or 6 thousand square feet to get that barb.)

Apparently he didn’t really mean it about the 1950s lifestyle.

At his session, I brought up the comment about a 1950s lifestyle. I used the enormous advances in medical care for heart disease and the general increase in life expectancy of older people as an example of dramatic improvement since the 1950s. I asked him who should decide whether such research is important. He merely replied that it is obvious that medical research is important while some other research (on phones I am sure) is unimportant.

He did not understand that I was asking how his preferences about research would be implemented. That problem is harder if, as I thought, some research would be fine and other research not.

To me as an economist, “who decides” means whose preferences get implemented and how. Some people might agree that some research is more important than other research in some sense. I was not merely asking if some people could agree.

He most likely does not know that those advances are related. Digital imaging is incredibly important in modern medicine including treatment of heart attacks and preventive medicine. My mother-in-law’s pacemaker has digital storage of its activity that is uploaded to the doctor once a month.

I found all of this unsettling in an odd way. One of the theologians commented later about me that “It takes all kinds.” The complete inability to find any way to discuss things despite, at least at the start, some good will is a shame.