Back in the 80s I took a minor in economics just for fun. Some people see economics as smoke and mirrors or star gazing at best. But I found it fascinating, it is a different logic, but it is a logic and it is a diverse as a field of practice, I think that’s what fascinated me.
Back in 2013 there was what economists call a taper tantrum. In the US as in some other economies, when there is a slowing of the economy and the risk is a crash (as per the graphic above) the Federal Reserve pumps money into the market to kick it along a bit (known in the trade as Quantitative Easing). In time spending cannot be sustained so the money must be slowed, and this is called Tapering, in short the money injection into the economy is tapered off rather than abruptly cut. The result in 2013 was what was referred to as an investor tantrum, an angry reaction to the tapering, hence, taper tantrum.
A tantrum about economics is akin to a tantrum about any other issue. When a child or adult has a tantrum it is because they have been slowed or thwarted in some way. One of my children once threw a tantrum in a supermarket because he couldn’t have something that was suddenly imperative. But the supply of money, and parental interest was tapered, and there was a predictable reaction.
The lessons we learned over the next couple of years are lessons we learned for life. Whether child or adult, a temper tantrum requires a particular response (other than ignoring it): empathy (acknowledging the emotions), listening, and resisting blaming. Not always, but often, you’ll get to the bottom of the tanrum, and in the least, you’ll maintain an open communication. Overall, you’re building a strong foundation of trust for the relationship. The principle of valuing the other, listening and holding the space for them to feel that they can trust you to hear their plight helps to diffuse the situation and bonds the relationship. One might taper the negative input, but love and compassion should be qualitatively and quantitatively increased.
I like what Thich Nhat Hanh said: “When you look deeply into your anger, you will see that the person you call your enemy is also suffering. As soon as you see that, the capacity for accepting and having compassion for them is there.”
He was speaking into a different context, but the principle is the same once you trade the word enemy for loved one, friend, colleague … love thy intemperate neighbour.
the pressure I feel my heart is drowning fast ah, look, a warm smile ©Paul Cannon