The common sense of economic science (1922) PDF by Edmund Dane

The common sense of economic science PDF book

The common sense of economic science PDF book


A few words may, by way of preface, be said on the aim of this book and on its method. The aim is to set out the leading truths and principles of Economics in a form that makes them easy to grasp;

 
the method is, by way of proof or illustration, to appeal, as far as necessary, alike to science and to history. It has, in not a few treatises on Economics, been the practice to lay down abstract propositions and definitions and then to go on, if not to prove, at least to argue in support of them.

The practice renders the study difficult. Definitions there must be, but terms should first be explained and understood. Unfortunately, again, arguments relied upon have been too often merely quantitative. The element of quality of which takes in the production, exchange, and distribution of Wealth influence the dealings and ideas of men at least as much as quantity has too frequently been overlooked. In some aspects of Economics, it is very important, and merely quantitative arguments are, at best, no more than half-truths. It is for these reasons mainly that Economics has earned the name of the "dismal science."

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