Aspects of the Economy

Some accept four 'main' aspects:

• Economic - economic aspect
• Political and legal - juridical aspect
• Social - social aspect
• Technical - formative aspect

But, knowing Dooyeweerd distinguished fifteen aspects, I ask myself: Which aspects are missing and in what way might each be important? For example:

• Physical aspect - climate change
• Biotic aspect - important for biodiversity, ecology, animals, etc.
• Psychical aspect - mental health
• Analytical aspect - science, logic; also confusion in society
• Lingual aspect - the discourse, the language that is going on
• Aesthetic aspect - harmony, holism, enjoyment, rest, play, fun
• Ethical aspect - Attitude (selfish or self-giving, self-protecting or generous); Then Good: the economy is not just 'the economy' but is there to do Overall Good in all aspects (shalom, salaam, eudaemonia, flourishing)
• Pistic aspect - our deepest beliefs, commitments, aspirations, expecations, assumptions, presuppositions

Astute readers will have noticed that that list mixes factors that result from economic activity with factors that affect it. So, the next stage is to separate them out.

For example, climate change and biodiversity loss are major harmful results of our economic activity, while attitude affects the economy. Notice also how the definition of "rational economic agent" as driven solely by self-interest is actually bringing in the Ethical aspect in a very negative way and pushing out the positive attitude of generosity and giving.

Then the next step ask which ones are important and why, and which ones are not.

For example, I think the Ethical aspect of attitude, and the Pistic aspect of underlying - what we might call - mindset, might be vitally important. Because they are the hidden aspects that affect all else. But also the way economics is elevated in society affects those two aspects too.

Also, the Ethical aspect of aiming for Overall Good (rather than just economic growth or fairness) is important in the self-identification of Economics as a field, discipline and professional practice.

To be continued ...

See Also

• Towards a Rethink of Economics, with the help of Philosophical and Christian Perspectives.

This page, "http://dooy.info/using/economy.html", is part of a collection that discusses application of Herman Dooyeweerd's ideas, within The Dooyeweerd Pages, which explain, explore and discuss Dooyeweerd's interesting philosophy. Email questions or comments are welcome.

Written on the Amiga and Protext in the style of classic HTML.

You may use this material subject to conditions. Compiled by Andrew Basden.

Created: 28 December 2021 Last updated: