Write Your Own Political Economy: Exercises for Colleges, High Schools, and Independent Students (Classic Reprint) - Tapa dura

Sinopsis

Excerpt from Write Your Own Political Economy: Exercises for Colleges, High Schools, and Independent Students

Many evil consequences flow from the lack of recog nition of the difference in the reasoning necessary in public and in private business: for example, nothing is more common than the claim that economists are theorists, and that their conclusions do not corres pond With the facts. This claim may be refuted in various ways. In the first place, it is extremely ab surd to suppose that if a man devotes his Whole life to investigation along economic lines, the necessary consequence is that he knows less than a man who has paid no especial attention to economic thought. In the second place, the objection is founded upon a total misapprehension as to What the consequences inferred by economists are. The person Who makes the objection is not yet ready to understand an economic conclusion, and therefore puts into the mouths of economists what does not belong there. And, in the third place, the claim that economists do not pay attention to the facts can be met by a com plete tu quoque - it is the haphazard thinker that does not pay attention to the facts.

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