by Art Ticknor
In his Return of Depression Economics and the Crisis of
2008, Nobel award winning economist Paul Krugman related a story published
in 1978 by a couple who were members of a baby-sitting co-op in Washington,
D.C.[1]
The association issued coupons entitling the bearer to one hour of
baby-sitting, and baby-sitters would receive the appropriate number of coupons
from the baby-sittees. The system ensured that over time each couple would
provide as many hours of baby-sitting as it received.
The situation developed, however, where couples who felt
their reserves of coupons were insufficient were anxious to baby-sit but
reluctant to go out. Opportunities to baby-sit therefore became scarce, making
couples even more reluctant to use their coupons. The co-op went into a
recession. Krugman said that's basically what caused Japan's economy to stall
for over a decade a lack of demand for the available productive capacity.
People in the baby-sitting co-op
would have been willing to go out, but nobody would lend them coupons. There
were the same number of coupons as previously but there just weren't many in
circulation, which is what economists call a liquidity trap.
The baby-sitting recession developed largely because people
wanted to save the credits they earned from winter baby-sitting to use in the
summer, when they wanted to go out more. But in the aggregate that doesn't work
and produces a winter slump. What was needed was to "get the price
right": points earned in the winter would have to be devalued if held
until summer an expected inflation or anticipated loss of value. If the slump
becomes deep enough and lasts long enough, it moves from recession to
depression status.
Okay, but how does all that apply to self-inquiry? Let's say
the desire to know the self is like one of the co-op couples. It makes some
headway (saves up some coupons) then runs into obstacles: other players
(competing fears and desires in the internal co-op) are trying to do the same,
and stasis develops.
There may be a seasonality slump in self-inquiry that a new
season will take care of by bringing a resurgence of going-out (or in this
case, going-within) desire. But what if we don't want to lose the time, chance
an auto-recovery, or the recession morphs into a season-defying depression?
What would it take to get the price right so that the going-within desire
produces action?
Remember we're talking about a co-operative operation. The
aggregate of fears and desires will have to come into alignment with the
going-within desire or not impede its action. Some of those other players may
support the going-within desire by lending it coupons
not out of altruistic
motives but because they see it won't hurt their getting what they want and may
even help. The going-within desire will have to carve out time to pursue its
goal and not be overly distracted during that time by the other players.
To bring this analogy down to a practical level, what can
you do to end a recession or depression affecting the going-within desire?
Demand for productive capacity (i.e., action) depends on desire, and desire
depends on a feeling of want that something important is missing or lacking.
The first game-changer is to feel that want, not run away from it. Feeling a
feeling is a rather instantaneous activity. It doesn't require effort. Effort
goes into trying to repress feelings so they stay below an apparent level.
Feeling a feeling is more of a slowing down, relaxing. (Are you too busy to
take a few seconds to feel what you're feeling?)
Feeling a want and its attendant desire automatically leads
to action unless the co-op isn't cooperating. The other fears and desires may
interfere directly, at a feeling level. A fear may occupy center stage like
Chicken Little and convince the co-op that the sky will fall ("I'll go
crazy" or "my life will be ruined," for example) if the
going-within desire gets its way. Or a more subtle coalition of members may
convince the co-op that going-within is okay but not just now ("I'm busy
right now," "I'm too tired," "I can do it better
later," and so on). How is this inevitable adversity sidestepped? The
co-op may have to form a committee of determination that recognizes the
interference patterns and decides not to be overly influenced by them when they
occur.
If you find yourself feeling overwhelmed by a conviction of
helplessness, consider the possibility that your intuition is picking up an
important life-lesson. As happened with a WV man who couldn't stop eating and
got to a weight of 600 pounds despite trying everything in his power to reverse
the trend, when you get backed into the corner of honestly admitting your
helplessness to solve a problem on your own or with all the resources you've
enlisted, your only option is to hope that there is some unseen/unknown higher
power that can help
and to implore that possibility for help. The WV man said
he found himself praying. Within 11 months he had lost 300 pounds and was still
losing weight when interviewed by a local TV station. When I honestly admitted
to myself that I was backed into a corner and prayed to a higher power or inner
self for help, I found that help was always available and capable of blasting
away any adversity. Praying for help opens the heart-mind.
Lastly, get out of the way. That happened for Jill Bolte
Taylor, the brain researcher, when a hemorrhage shut down most of her
left-hemisphere's operation. When it started coming back, slowly, after
surgical intervention, she saw that the "self-story" concocted by the
left hemisphere who she was, what her credentials for self-importance were,
her judgments and resentments of other people when they didn't enhance her
self-image, and so on had previously determined her actions
and that its
automatic reaction mode in response to feelings didn't have to be followed
blindly. If life doesn't provide you the lesson in such a dramatic way, you can
try to test the water by doing something for someone else without any
expectation of reward (anonymously if possible and without telling anyone).
The Liquidity Trap of Self-Ignorance
[1] "Monetary Theory and the Great Capitol Baby-sitting Co-op Crisis," by Joan and Richard Sweeney.
See Monetary Theory and the Great Capitol Baby-sitting Co-op Crisis by Joan and Richard Sweeney. it was little known until popularized by Paul Krugman in his book Peddling Prosperity and subsequent writings. Krugman has described the allegory as "a favorite parable" and "life-changing."
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