The Scope and Method of Economic Science: An Address Delivered to the Economic Science and Statistics Section of the British Association at Aberdeen, 10 September, 1885 (Classic Reprint) - Softcover

Henry Sidgwick

 
9781330492765: The Scope and Method of Economic Science: An Address Delivered to the Economic Science and Statistics Section of the British Association at Aberdeen, 10 September, 1885 (Classic Reprint)

Synopsis

This book examines the history and methodology of the concept of economics, particularly in relation to questions of political economy and intervention. It begins by surveying the origins of the field, with a particular focus on the work of Adam Smith and the Physiocrats, and their foundational ideas of free markets. The author assesses these early thinkers' influence on the history of economic thought and traces their continuing effects on modern economic thought. The author also delves into the depths of debates on income distribution, property, welfare, and the industrial revolution, all of which are impactful topics in modern economics. The author argues that economics is not simply a collection of "hard and fast rules," but rather a dynamic and evolving field of inquiry that must constantly adapt to changing circumstances. In doing so, the author delivers a detailed analysis of the differences between classical economics, later Marxist economics, and modern economics. The author concludes by discussing the role of economics in modern society, highlighting its ability to inform policy decisions and its relevance to a wide range of social issues.

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