Examine your reaction to this:

Any weirdness or “cognitive dissonance” going on here? There probably should be, given the messages about the “financial crisis” broadcast by both “right” and “left” (and being internalised, apparently, by large sections of the population).

Head Test (are you to blame?)

What political stances (“left”, “right”, “moderate”, “radical”, etc) would you say characterise the following confusions:

• Confusing “wealth” with “money”?
• Confusing “wealth” with material stuff?
• Confusing “wealth” with “illth”?*

(* illth = a term coined by John Ruskin, denoting changes which are detrimental to life – in contrast with “wealth”, denoting changes beneficial to humans and/or to other forms of life).

• How many economists can you name (contemporary or historical) who investigate the distinction between “real wealth” and “money-wealth”? (Most people will probably have difficulty naming any).

• Did the invention of the wheel make society wealthier? What about the internet? What proportion of “real wealth” consists not of material stuff or money-capital, but of ideas, inventions, scientific research, knowledge, “know-how”?

What does all this have to do with the “financial crisis”?

Huh? What’s that… you don’t know? Are you stupid or something? Are you sure you’re not part of the problem?

For a large version (printable size, over 3000 pixels wide) of the image we’ve been displaying in various places, click here.