Write Your Own Political Economy

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Excerpt from Write Your Own Political Economy: Exercises for Colleges, High Schools, and Independent StudentsMany evil consequences ¿ow 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 119 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 quoquc - it is the haphazard thinker that does not pay attention to the facts.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.