Ethics and Economics

The ethical as such is the universal, and as the universal it applies to everyone, which from another angle means that it applies at all times. It rests immanent in itself, has nothing outside itself that is its τέλος but is itself the τέλος for everything outside itself, and when the ethical has absorbed this into itself, it goes not further. The single individual, sensately and psychically qualified in immediacy, is the individual who has his τέλος in the universal, and it is his ethical task continually to express himself in this, to annul his singularity in order to become the universal. As soon as the single individual asserts himself in his singularity before the universal, he sins, and only by acknowledging this can he be reconciled again with the universal. ... Faith [in contrast to the ethical] is namely this paradox that the single individual is higher than the universal ... so that after having been in the universal he as the single individual isolates himself as higher than the universal.

Economics is a subject that really relates to core aspects of human well-being, and there’s a methodology for thinking about these things. This was a very appealing combination to me. Market systems are capable of massive breakdowns that can result in long, devastating periods of high unemployment. And I felt that economists had really learned something about how to address that.

Give not Saint Peter so much, to leave Saint Paul nothing.