Economic shocks: is there a duty to accept sacrifice?

Economic shocks: is there a duty to accept sacrifice?

From Moral Maze by BBC Radio 4

March 19, 2026 · 58 min

About this episode

The episode discusses the implications of economic shocks and the concept of sacrifice in modern society.

Rising oil prices triggered by war have renewed fears of an economic shock. Governments are already under pressure to step in: to cap prices, cushion bills and shield households from the consequences. Yet crises were once understood differently. During earlier shocks, citizens were often told to tighten their belts, to accept rationing, higher prices and shared sacrifice. But memories of past hardship can also be misleading. There is sometimes a tendency to romanticise earlier generations’ stoicism. Today the assumption seems different: if living standards fall, the government must intervene. The idea of sacrifice raises difficult questions. Who exactly is the “we” being asked to shoulder the burden? A rise in energy costs may be uncomfortable for some but devastating for those already living precariously. Hardship is rarely shared equally. If sacrifice is demanded, how should it be distributed? There is also a deeper question about what we mean by sacrifice at all. The word is often used simply to mean going without. Yet traditionally it carried a stronger philosophical meaning: the willingness to give something up for a higher purpose or the common good. Some argue that modern…

Topics covered

  • economic shocks
  • sacrifice
  • government intervention
  • energy costs
  • shared hardship
  • philosophical meaning of sacrifice

Keywords

  • economic shocks
  • sacrifice
  • government intervention
  • energy prices
  • shared hardship
  • modern democracies
  • climate change

Mentioned in this episode

Organizations: BBC Radio 4

Places: war, modern democracies, societies

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