__________________________________________________________________ Cecil E . Bohanon Prudence , Passion and Persuasion in Moby Dick McCloskey ( 1998 ) has argued that prudence is a central and necessary virtue in a capitalist economy . However she points out that prudence does not and cannot explain all economic behavior . Prudence is in contrast with another virtue : solidarity with fellow humans . Solidarity is negotiated by rhetoric and discourse , and is central to the operation of all human societies including and perhaps especially ones that are capitalistic . Prudence is at odds with solidarity , while simultaneously requiring solidarity for its own operation . The prisoners ’ dilemma , for example , is not overcome by simple prudential self-regarding calculation ( indeed , that is why it is a problem !) but by solidarity with embedded social practices and customs . But it is this solidarity that allows for greater degrees of prudential activity . In the same vein , solidarity hardly stands alone . Although “ dull ” prudence can scarcely be seen as a universal motivation for human action , prudence is a useful and necessary means for attaining noble and heroic ends . Yet prudence is often in conflict with reckless courage , unrequited generosity , unwavering commitment and a variety of other more passionate virtues . Cecil E . Bohanon is Professor of Economics , Ball State University ( Muncie , Indiana ). A preliminary version of this paper was presented at the annual meeting of the Association of Private Enterprise Education ( APEE ) in Cancún , Mexico , April 8 – 10 , 2007 . ( The author would like to thank Lee Craig for helpful comments . Any errors remain the author ’ s .) This paper argues that Herman Melville ’ s 1851 classic Moby Dick can be seen as a referendum between prudence and passion : between mercantile gains and heroic questing , and the tragic triumph of the latter over the former . The irony is that passion defeats prudence on prudence ’ s own terms . Captain Ahab takes the role of passion , first-mate Starbuck is the spokesperson for prudence . The ship ’ s crew is the body that judges the two competing claims , revealing their preferences through their actions . The key question of the story is why do the members of the crew go along with Ahab ’ s self-destructive quest ? Whaling was a profit-seeking business . 1 Ship owners structured incentives to ensure that their interests coincided with those of the crew . The crew had a share in the ship ’ s cargo ( whale oil ) and , as most of the ship ’ s costs were fixed costs , additional whales were pure profit for all those involved . Yet the whole story of Moby Dick is one of intentionally abandoning profit-seeking to indulge Captain Ahab ’ s grudge against the great white whale . It is important to note that this is accomplished because Ahab is able to persuade the crew to follow his quest , his passionate cause of ridding the ocean of 1 See Ellickson ( 1989 ), Craig and Knobner ( 1992 ), and Craig and Fearn ( 1993 ) for detailed outlining of the rules , customs , practices and arrangements that are consistent with profit maximization in the whaling industry in Melville ’ s time . __________________________________________________________________ Laissez-Faire 23

__________________________________________________________________ the monster Moby Dick to the exclusion of profit and ultimately at the cost of the crew ’ s lives . The plan of this paper is a bit unconventional . I will follow the basic outline of Melville ’ s story illustrating my thesis using direct quotes from Melville ’ s text . I will also offer a number of other insights . All the quoted material is referenced by chapter . Longer passages are in italics . The Whaling Ship : Ishmael and Queequeg sign on for the Pequod The protagonist in Melville ’ s Moby Dick is a late twenty-something adventurerwriter named Ishmael , who makes an accidental acquaintance and ultimately a close friendship with the South Sea Islander Queequeg in New Bedford , Massachusetts . The two agree to sign onto a whaling ship . In Chapter 16 , Ishmael describes signing on to the whaling ship Pequod . The chapter reveals a number of details about the financing of whaling operations . A whaling voyage typically lasted for up to three years . The supplies necessary to support the crew were provided by the ship ’ s owners , who in this story are two retired Quaker whalers named Captain Bildad and Captain Peleg . These two are the “ largest owners of the vessel ,” although other shares were held by “ a crowd of old annuitants , widows , fatherless children , and charity wards .” Ishmael reveals the structure of incentives for the crew : “ I was already aware that in the whaling business they paid no wages , but all hands , including the captain received certain shares of the profits called lays .” Ishmael goes on to explain that the lays reflected an ex-ante estimate of the sailors marginal product : “ … these lays were proportionate to the degree of importance pertaining to the respective duties of the ship ’ s company .” Expecting a 1 / 275 th lay , and hoping for a 1 / 200 th , Ishmael is offered a 1 / 777 th lay by the more penurious owner , Bildad . Peleg objects (“ thou dost not want to swindle this young Man ”), and eventually the three , Bildad , Peleg and Ishmael , agree on a 1 / 300 th lay . 2 Ishmael ’ s companion Queequeg was an experienced whale harpooner . His lay negotiation , described in Chapter 20 , is a classic illustration of how the desire for prudential gain trumps passion-based provincial prejudices . When Queequeg , a South Sea Islanders , attempts to sign on for the Pequod Captain Peleg asserts : “ no cannibals on board ( unless ) ... ( thou ) art at present in communion with a Christian church .” Ishmael insists that Queequeg is a member of the “ First Congregation of the whole Worshiping World ....” This flippant reply assuages Peleg , who goes on to question Queequeg : “ Did you ever strike a fish ?” The text then describes : Without saying a word , Queequeg , in his wild sort of way , jumped upon the bulwarks , from thence into the bows of one of the whale boats hanging on the side ; and then bracing his left knee , and posing his harpoon , cried out in some such way as this ‘ Cap ’ ain , you see him small drop tar on water dere ? You see him ? Well , spose him one whale eye , well , den !’ and taking sharp aim at it , he darted the iron right over old Bildad ’ s broad-brim , clean across the ship ’ s deck and struck the glistening tar-spot out of sight . ‘ Now ’ said 2 Perhaps Bildad and Peleg were engaging in a “ good cop , bad cop ” strategy . Bildad gave an absurdly low lay , allowing Peleg ’ s lay to seem generous , although less than what Ishmael anticipated . __________________________________________________________________ Laissez-Faire 24

__________________________________________________________________ Queequeg , quietly hauling in the line , ‘ spos-ee him whale-e eye , why , dad whale dead .’ ‘ Quick , Bildad ’ said Peleg ‘ … get the ship ’ s papers . We must have Hedgehog there … we ’ ll give ye the ninetieth lay , and that ’ s more than ever was given a harpooner yet out of Nantucket . During Ishmael ’ s negotiations in Chapter 16 he inquired as to the ship ’ s captain . The owner Peleg reveals that Ahab is “ a queer man ,” but that I know Ahab well ; I ’ ve sailed with him as mate years ago ; and know what he is — a good man — … I know too that ever since he lost his leg last voyage by that accursed whale , he ’ s been a kind of moody … it is better to sail with a moody good captain than a laughing bad one . Although aware of Ahab ’ s misfortune , the ship owners have no indication that Ahab will behave in an inappropriate way . Chapter 26 introduces the first-mate Starbuck , whose motives are made clear : Starbuck was no crusader after perils ; in him courage was not a sentiment ; but a thing simply useful to him … courage was one of the great staple outfits of the ship , like her beef and her bread , and not foolishly to be wasted . Starbuck evinced that “ I will have no man in my boat who is not afraid of whales ,” and reveals : “ I am here in this critical ocean to kill whales for my living , and not to be killed by them for theirs … ” Starbuck is the voice of prudence . He is in the voyage for gain , not for romance , adventure or pleasure . Ahab Reveals his Mission Ishmael and Queequeg set sail with the rest of the crew . For several days Captain Ahab remains reclusive . In Chapter 36 Ahab reveals to the crew his quest for Moby Dick . He begins by addressing the crew , asking a number of “ seemingly purposeless questions ” to the crew about whaling : “ What do you do when ye see a whale , men ” Ahab asks ; to whit the crew replies “ sing out for him !” ... And once on the rowboat in pursuit of the whale “... what tune is it that ye pull to men ?” – “ A dead whale or a stove boat !” ( Note that stove in this context means broken , or a boat that is crushed inward .) The crew “ marveled ” at “ how excited ” they became at this line of questioning by Ahab . Ahab then holds up a Spanish ounce of gold , a $ 16 gold piece , and nails it on the mainmast , saying “ Whosoever of ye raises me a white head whale ... shall have this gold ounce .” The crew cheers . The three “ pagan ” harpooners ( Tashtego , Daggoo and Queequeg ) ask if it is the white whale known as Moby Dick . The first mate Starbuck asks if this is the whale that removed Ahab ’ s leg . Ahab enthusiastically replies in the affirmative to both queries and then announces : “ Aye , aye and I ’ ll chase him around Good Hope , and round the Horn , and round the Norway Maelstrom , and round perdition ’ s flames before I give him up .” He then goes on to say : “ And this is what ye have shipped for , Men ! [ emphasis added ] To chase that white whale on both sides of land , and over all sides of earth , till he spouts black blood and rolls fin out . What say ye , men , will ye splice hands on it now ? I think ye do look brave .” 3 3 “ Splice hands ” means agree to it . __________________________________________________________________ Laissez-Faire 25

__________________________________________________________________ Note that Ahab putatively leaves it open to the men to agree or not to the unconventional mission statement for the journey . The crew replies : “ Aye ! aye !” shouted the harpooners and seamen , running closer to the excited old man : “ A sharp eye for the white whale , a sharp lance for Moby Dick !” To which Ahab replies in a “ half sob and half shout ”: “ God bless ye , God bless ye men ,” and proceeds to order up grog for the whole crew . Ahab immediately notes that Starbuck seems unenthusiastic : “ But why the long face about , Mr . Starbuck ? Wilt thou not chase the white whale ? Art thou not game for Moby Dick ?” Starbuck replies in front of the entire crew : “ I am game for his crooked jaws and the jaws of Death too , Captain Ahab , if it fairly comes in the way of the business we follow , but I came here to hunt whales , not my commander ’ s vengeance . How many barrels will thy vengeance yield thee even if thou gettest it , Captain Ahab ? It will not fetch thee much in our Nantucket market .” The debate has now begun : Ahab and Starbuck engage in a continual dialogue about the propriety of the mission . Some of these debates are in front of the crew and some are private . Ahab continues at this juncture to reply , in front of the crew , giving the quest a larger and more metaphysical purpose , although couched in commercial language , by ascribing to Moby Dick “ an inscrutable malice ”: “ That inscrutable thing is chiefly what I hate ; and be the white whale agent , or be the white whale principal , I will wreak that hate upon him .” He asserts to Starbuck that the crew is in harmony with his purpose : “ Look ! See yonder Turkish cheeks of spotted tawn … the pagan leopards … that live ; and seek , and give no reasons for the torrid life they feel ! The crew , man , the crew ! Are they not one and all with Ahab , in this matter of the whale ?” Under his breath Ahab ends up concluding that “ Starbuck now is mine ; cannot oppose me now , without rebellion .” Ahab continues to ritually drink grog and cross lances and swords with the men of the crew to seal the pact : “ Drink ye harpooners ! Drink and swear , ye men that man the deathful whaleboat ’ s bow — Death to Moby Dick ! God hunt us all , if we do not hunt Moby Dick to his death !” Later that evening ( in Chapter 38 ) Starbuck reflects : “ My soul is more than matched ; she ’ s overmanned ; and by a madman … he drilled deep down , and blasted all my reason out of me ! I think I see his impious end ; but feel I must help him to it .” Not only has Ahab been able to persuade the crew to his purpose , Prudence itself ( in the person of Starbuck ) is swayed by his passion . Yet Chapter 46 reveals that Passion uses the tools of Prudence to attain its ends . Ahab ’ s Prudential Strategy Chapter 46 of Moby Dick is titled Surmises , and reveal Ahab ’ s thinking after his initial interaction with the crew and Starbuck . “ Starbuck ’ s coerced will were Ahab ’ s , so long as Ahab kept his magnet at Starbuck ’ s brain ; still he knew for all this the chief mate , in his soul , abhorred his captain ’ s quest , and could he , would joyfully disintegrate himself from it , or even frustrate it .” He goes on to note that : “ Starbuck would ever be apt to fall into __________________________________________________________________ Laissez-Faire 26