Aristotle and the Cult of the Immediate

Front Porch Republic ^ | 29 June 2009 | Michael Federici

[Lorianne]

In what way can Aristotle bring understanding to current political and economic affairs? To the extent that American consumers failed to refrain from indulging their passion to consume more than was consistent with their happiness, they lived outside the Aristotelian mean. Moderation is for Aristotle a virtue that helps to keep individuals from excess and self-indulgence, vices that result in misery. Individuals who act moderately Aristotle calls “magnificent” or “magnanimous.” Those who are incapable of acting in accordance with moderation Aristotle calls “vulgar.” If the existing ethos creates a cultural climate that is conducive to vulgarity, then individuals will be more apt to engage in pleasures that are destructive to happiness. The celebration of vulgarity in popular culture indicates that vulgar men and women are setting the tone rather than magnanimous men and women. In this way, economic and political problems are largely ones of conduct, practical wisdom, and leadership not intellect or public policy.

Aristotle offers two important insights that are worth keeping in mind as the economic and political crisis is discussed. Moderation is a virtue and self-indulgence is a vice. Encouraging consumers and businesses to be more self-indulgent by feeding their habits of reckless spending and consumption is not wisdom or leadership but folly.

In the early 1980s when conservatives were searching for their identity and purpose in American politics, George Will wrote a book that offered an Aristotelian thesis that was captured in its title, Statecraft as Soulcraft: What Government Does. Our current circumstances are in need of the reminder that politics and economics cannot function outside of the spiritual domain of human life and society. Plato and Aristotle made the point in the ancient world and it bears repeating. Public policy cannot take the place of virtue. This is not to say that all politics is virtue but that matters of the soul are an essential part of guiding political and economic life to justice and happiness.

[... excerpted for length]

[handy old one]

I have to have it now and extra large!!

[Woebama]

More on point imho — the Bible says that debt is slavery.

[parsifal]

IMHO, paying on your credit card is only enabling someone to be a usurer.

parsy, who’s credit score is like 12 or 13.

[Jack Hammer]

Public policy cannot take the place of virtue.

It’s due to the verity expressed in this one insight alone that the United States has become essentially ungovernable and will continue to slide irreversibly down the chute.