March 10, 2022
Here are a few phrases I keep hearing that we should stop saying—if we want to adhere to the economic point of view, that is.
1.
‘X’ or ‘y’ defies ‘basic economics.’
No, ‘x’ or ‘y’ doesn’t.
Economic theory developed to provide explanations for social phenomena which exist.
If something exists, it manifestly does not deny “basic economics.” Usually, what someone means by this phrase is that something isn’t “sustainable” (what is in perpetuity…?), that they disapprove of a pattern of resource allocation, or most likely that something “defies easy explanation.”
Well, the list of things that defy easy explanation is long.
But let’s not discard economics. It’s the best framework we have for those very social phenomena that defy first blush explanations.
2.
“After weighing the economic considerations…”
If there are considerations, they are economic. This phrase is redundant.
“Economic” signifies that someone has a purpose and they’re selecting what they see as the best means to achieve their goal. People using this phrase are (incorrectly) deploying the word “economic” as a synonym for “money,” “monetary,” or “pecuniary.” Of course, pecuniary considerations play a role in almost every decision, but “economic” does not refer solely to material aims.