Economics Uses Magical Language

A common feature in systems of magic is animism — attributing to inanimate objects the functions of life, assuming things to possess will, purpose, and power.

It is significant (though quite in keeping) that "Economists" and "Financiers" have this characteristic at- titude of mind towards, and employ animistic forms of expression in writing and talking about "Money" and "Capital."

Whether this is due to unconscious belief in magic or is mere metaphor, the result, in either case, is befogging confusion of thought.

When the President of a great banking corporation, in a serious public discussion on "War Taxation," for example, says:

"Capital has a long memory . . . ";

"Capital is proverbially timid . . .";

". . . treason for capital and capitalists . . . ";

"... capital and men of enterprise . . . ";

"... capital and capitalists of today . . . ";

he seems to be expressing nonsensical animism and belief in magic — magic no less crude and thinking no less naive and childlike than that of the average man-on-the-street in his oft-stated conviction that "Money makes money," that "Dimes breed dollars," and suchlike popular aphorisms.

Hazy verbal expression usually implies foggy thinking, and this is as true of the "highbrow" as of the rest of us. When language fails to clarify thought it is probable that the thoughts of its user need clarifying.

Admiral William Henry Smyth, Technocracy, First, Second and Third Series Social Universals (2010-08)

• animism
• magic
• pseudoscience
• science