How the Dismal Science Got Its Name

TL;DR

Economics was dubbed 'Dismal Science' due to anti-slavery stance.

Transcript

today we look at the fascinating and surprising history of how the Dismal science got its name many people know that it was the writer historian and essayist Thomas carile who coined the term the Dismal science and applied it to economics in 1849 many people also believe however that this had something to do with malus now it's true that malus said... Read More

Key Insights

• Thomas Carlyle coined the term 'Dismal Science' in 1849, referring to economics, but not due to Malthusian theories as commonly believed.
• Carlyle's disdain for economics stemmed from its association with anti-slavery movements and free trade advocates, opposing his pro-hierarchy beliefs.
• Exeter Hall, synonymous with the anti-slavery lobby, hosted meetings of both the Anti-Slavery Society and the Anti-Corn Law League, showcasing the overlap between free trade and abolitionist movements.
• Carlyle supported inequality, hierarchy, and the reinstatement of serfdom, aligning with proto-fascist ideologies, and was influential among later fascists.
• Economists like Adam Smith emphasized environmental factors over innate differences in explaining wealth disparities, challenging Carlyle's views on natural superiority.
• John Stuart Mill criticized Carlyle for supporting slavery, arguing that a civilization requiring slavery was not truly civilized.
• Carlyle's essay gained traction in the American South, influencing pro-slavery sentiments, highlighting the power of influential writers.
• The term 'Dismal Science' ironically originated from economists' support for freedom and equality, contrasting with Carlyle's derogatory intent.

Questions & Answers

Q: Why did Thomas Carlyle coin the term 'Dismal Science'?

Thomas Carlyle coined the term 'Dismal Science' in 1849 to describe economics, not because of Malthusian theories as commonly believed, but due to its association with anti-slavery movements and free trade advocates. Carlyle opposed these movements as they contradicted his pro-hierarchy and inequality beliefs, which favored reinstating serfdom and slavery.

Q: What was the significance of Exeter Hall in Carlyle's critique?

Exeter Hall was significant in Carlyle's critique as it symbolized the overlap between the anti-slavery lobby and free trade advocates. The venue hosted meetings of both the Anti-Slavery Society and the Anti-Corn Law League, showcasing the confluence of these movements. Carlyle opposed this confluence, as it contradicted his support for hierarchy and inequality.

Q: How did Carlyle's political philosophy influence his views on economics?

Carlyle's political philosophy, which favored inequality, hierarchy, and the reinstatement of serfdom, influenced his negative views on economics. He opposed the economic emphasis on freedom, equality, and environmental factors over innate differences, as promoted by economists like Adam Smith. Carlyle's beliefs aligned with proto-fascist ideologies, influencing future fascists.

Q: What role did Adam Smith's ideas play in the debate on economic disparities?

Adam Smith's ideas played a crucial role in the debate on economic disparities by emphasizing environmental factors, such as laws and incentives, over innate differences in explaining wealth disparities. This challenged Carlyle's beliefs in natural superiority and hierarchy, as Smith argued that differences in wealth arose more from habit, custom, and education than from nature.

Q: How did John Stuart Mill respond to Carlyle's views on slavery?

John Stuart Mill responded to Carlyle's views on slavery by criticizing his support for a civilization that required slavery to sustain itself. Mill argued that such a civilization could not be considered truly civilized. He also highlighted the influence of Carlyle's essay in promoting pro-slavery sentiments, particularly in the American South, and condemned Carlyle for contributing to such mischief.

Q: What impact did Carlyle's essay have in the American South?

Carlyle's essay had a significant impact in the American South by influencing pro-slavery sentiments. The essay, which criticized the anti-slavery movement and supported hierarchy and inequality, was widely circulated among Southern audiences. It provided intellectual support to slave owners, reinforcing their beliefs in the superiority of maintaining slavery as a social and economic institution.

Q: How did the term 'Dismal Science' ironically reflect economists' values?

Ironically, the term 'Dismal Science' reflected economists' values of supporting freedom and equality, contrasting with Carlyle's derogatory intent. Economists stood with members of the anti-slavery Society, emphasizing environmental factors over innate differences in wealth disparities. This alignment with abolitionist principles made the term 'Dismal Science' a badge of honor for promoting social justice.

Q: What resources are recommended for further reading on this topic?

For further reading on this topic, it is recommended to explore David Levy's book 'How the Dismal Science Got Its Name,' which provides an in-depth analysis of the history behind the term. Additionally, a summary by Levy and Sandra Peart titled 'The Secret History of the Dismal Science' is available online. The debate between Thomas Carlyle and John Stuart Mill is also collected in a book, with both pieces accessible online.

Summary & Key Takeaways

• Thomas Carlyle coined 'Dismal Science' to describe economics, not due to Malthusian theories but because of its association with anti-slavery movements. Carlyle's political philosophy favored hierarchy and inequality, opposing the equality and freedom supported by economists and abolitionists.

• Exeter Hall, a venue for anti-slavery and free trade advocates, symbolized the overlap between these movements. Carlyle's disdain for this confluence stemmed from his support for reinstating serfdom and slavery, aligning with proto-fascist ideologies and influencing future fascists.

• Economists like Adam Smith challenged Carlyle's beliefs by emphasizing environmental factors over innate differences in wealth disparities. John Stuart Mill criticized Carlyle's pro-slavery stance, arguing that a civilization dependent on slavery was not civilized. Carlyle's essay influenced pro-slavery sentiments in the American South.