'Sympathy' in the Economic Studies

Book: Principles of Economics

Author: Alfred Marshall

What I wanna talk about today is the most crucial aspect in the economic studies: the class sympathy towards our fellow human beings. The factors influencing this specific aspect are worth contemplating. There is no doubt that these factors not only relate to economics but also apply to our daily lives.

1)'This class sympathy is, for instance, strongly developed by inquiries, which are becoming every day more urgent, of the reciprocal influences which character and earnings, methods of employment and habits of expenditure exert on one another':

The relationship between 'personal character, wealth, and lifestyle,' which can be attributed to one's upbringing and education level. This often makes me ponder the common phenomenon of 'the rich get richer.' Children from wealthier families have more resources to discover their strengths and more opportunities to experiment, thus increasing their chances of success. In contrast, poverty indeed limits personal development. I strongly agree with a popular saying online: 'Poverty limits imagination.' From another perspective, when in poverty, people often need to focus on basic survival issues and therefore do not consider 'fantasizing' about unrealistic things. When poverty is not an issue, people can devote their energy to 'imagination' and create different possibilities.

2)'of the ways in which the efficiency of a nation is strengthened by and strengthens the confidences and affections which hold together the members of each economic group':

Obviously, the overall efficiency of a country strengthens the cohesion among various social organizations which I find this similar to how a company's corporate culture impacts its employees. For example, if a company has a positive atmosphere, it will influence employees' work attitudes and attract like-minded individuals. On a larger scale, if a country or its leaders habitually shift responsibility onto others, the populace might develop similar tendencies over time, thinking, 'If the leaders do it, it's normal for me too.' Consequently, more people might adopt this mindset because, in reality, most people tend to follow the crowd.

3) 'of the good and evil that are mingled in the individual unselfishness and the class selfishness of professional etiquette and of trade union customs':

The relationship between individual self-interest and the self-interest of an entire class always counts. I thought of a comparable example: A university student loudly expressing dissatisfaction with the school at the entrance for several days. Her self-interested perspective might be, 'I have the freedom to do what I want, and I'm just voicing my concerns out loudly.' However, from a broader perspective, she might overlook the need for focus among students in class or the need for quiet for those catching up on sleep after a late night. If she considered the freedom of the entire community, she might balance her way of expressing discontent and seek other possibilities. Of course, this is just an example, and many underlying conditions are not discussed here.

As the book mentions, the fourth influencing factor is 'of movements by which our

growing wealth and opportunities may best be turned to account for the wellbeing of

the present and coming generations', I personally see this as the ultimate goal of economic studies. When individuals possess a certain level of wealth and when a country and society function efficiently, prioritizing collective benefits over individual gains, only then do we begin to consider the future of humanity as a whole. Therefore, economists' in-depth study of various issues can deepen mutual empathy which is their common innate character.

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Thank you for reading. As a newcomer to this field, I eagerly welcome feedback from the experts.