It always astounds me when people claim they have no interest in economics. How could anyone be so nonchalant about the ways in which economic forces influence their daily lives?
 
But upon further examination, it is apparent that almost everyone cares about economics, they just don’t know it. They care about whether they can get a job, if they can afford to own their own house, and whether they spent more or less at the supermarket than last month.
 
So what is it about economics that makes the average person’s eyes glaze over? Helen Dale attempts to answer just that in her column Stories vs. Numbers. Dale argues that the average person is turned off by “wonkish modern politics”. Most people respond much better to stories and narratives than graphs, statistics, and (sometimes deliberately) obfuscating language.
 
The observation is hardly ground-breaking. However, it does present a challenge to those in the “wonkish” profession whose reputation and credibility rests precariously on getting those numbers right. Her argument, though, is not for economists writing to economists. It is for economists writing for the public.
 
Let’s take economic growth as one example. Most economists will tell you economic growth is important. Politicians fixate on the tiny fluctuations in percentage points of GDP. But does the average person understand why they should care about economic growth?
 
And if the story isn’t compelling, then is it any wonder why they will consistently push for policies that undermine growth, or restrict its prospect?
 
One of the most evocative stories on economic growth I have come across is a TED talk by statistician Hans Rosling, aptly titled The Magic Washing Machine. It is difficult to capture here the sheer passion of Rosling, so it is well worth a watch.
 
In his ode to the automated washing machine, Rosling waxes lyrical about the way this technology transformed the life of his mother, and captivated his grandmother, who no longer had to wash clothes by hand. As well as saving her from physical toil, it also gave his mother time to do other things, like taking her son to the library, a step he believes was the start of his career as a professor.
 
You see, economic growth isn’t just for economists and politicians. It is what made the invention of the washing machine possible, it is what led to the shift from physical labour to greater educational opportunities. And it is what made yesterday’s “miracle” of technology, commonplace in today’s developed economies.
 
There are great stories to be told about economics. Inspiring stories, stories of miracles and disasters, of good guys and villains. I believe these are stories worth telling, and I look forward to passing down the narratives that shape us in Insights to come.