What’s the Jane Austen News this week?
Economics Needs Austen
Gary Saul Morson, the Lawrence B. Dumas Professor of the Arts and Humanities at Northwestern University, and Morton Schapiro, a professor of economics and the president of Northwestern University have put forward an interesting question: could reading Tolstoy and Austen improve economic forecasting?
In their book, Cents and Sensibility: What Economics Can Learn from the Humanities, they argue that, while taking literature seriously will not completely transform the field of economics it will provide a real boost to accuracy and general understanding of why seemingly unlikely events are more likely than first assumed (recessions being a prime example). They believe that learning from literature, philosophy and the other humanities, along with history, sociology, anthropology, psychology, political science, religion and the like, may lead economists to develop more realistic models of human behavior, increase the accuracy of their predictions, and come up with policies that are more effective and more just.
They particularly recommend reading some of the classic literary greats:
There is no better source of ethical insight than the novels of Leo Tolstoy, Fyodor Dostoevsky, George Eliot, Jane Austen, Henry James, and the other great realists. Their stories distill the complexity of ethical questions that are too important to be entrusted to an overarching theory – questions that call for good judgment.
We wonder what Jane would make of this!
An essay going into more depth on the importance of literature and the humanities in economics can be read here.
Continue reading Jane Austen News – Issue 93
..And the rockets’ red glare, the bombs bursting in air, gave proof, through the night, that our flag was still there… The Defence of Fort McHenry Francis Scott Key Although it would be difficult to discern, simply from reading her novels, the world Jane Austen lived in was one constantly at war. During her lifetime (1775-1817) she saw the American war for independence (known as the Revolutionary War) the French Revolution, Britain’s war with France (fighting Napoleon from 1803-1815) and the War of 1812, which is largely forgotten in light of the other, “major” wars which overshadow it, in both British and American history. With the 200th anniversary of the War of 1812 (and no, the 1812 overture was not written for this war– it was written in Russia, in 1880, by Pyotr Ilyich Tchaikovsky, commemorating Russia’s battle and eventual triumph over Napoleon’s forces) and the introduction of the newest American Girl Doll, Caroline Abbott, interest has been renewed in this war which saw not only at British invasion of Washington D.C., with troops burning the White House, but also the battle which inspired the poem, The Defence of Fort McHenry, which would later be titled The Star Spangled Banner, and adopted as the United States’ national anthem. The battle which inspired the poem, The Defence of Fort McHenry, by Francis Scott Key. War of 1812 The War of 1812 was a military conflict fought between the forces of the United States and those of the British Empire. The (more…)