The Character and Logical Method of Political Economy
W. McGee, 1869 - 184 頁
The work on the “Character and Logical Method of Political Economy” may be recommended to students as a safe guide to help them through the mazy labyrinths which the earlier stages of the study present. The purpose of the work is to ascertain the true relation of Political Economy to the Physical Sciences on the one hand, and to the Moral Sciences on the other, both as regards method and compass. The supporters and opponents of Political Economy have each done it injustice by misapprehending its aims and limits. The study, as Professor Cairnes points out and explains with inimitable clearness, does not consist in an investigation into the causes of physical facts or the evolution of psychological processes. Political Economy begins at the point at which physical science and psychological science each end.
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In the same way , if we desire to ascertain the tendency of any given cause - -
such , e . g . as the new gold discoveries — we ' resort to some hypothesis , or
assumed case , under which we suppose the principle in question to come into ...
Again , Mr . Senior ' s essay “ on the cost of obtaining gold ” is an example of the
same kind . But perhaps the best example of the use of statistics in the
advancement of economic science is afforded by · Mr . Tooke in his well known
History of ...
... system , and established the doctrines of free trade . “ No commodities , ” he
tells us , “ regulate themselves more easily or more exactly according to the
effectual demand than gold and silver ; because , on account 70 ULTIMATE
demand than gold and silver ; because , on account of the small bulk and great
value of those metals , no commodities can be more easily transported from one
place to another , from the places where they are cheap to those where they are ...
... place , a general rise of wages in the United Kingdom — the consequence
partly of our general commercial prosperity , partly of the gold discoveries –
leading to an increased money demand here for the productions of eastern