Dixon, " The Interstate Commerce Act as Amended," Quarterly Journal of Economics, xxi.
We now have categories for Dutch writers, Dutch historians, Journalism (linked to Industry and business), Animal Husbandry and Horticulture (linked to agriculture and agriculture was linked to economics and biology).
We understand by economics the science which investigates the manner in which nations or other larger or smaller communities, and their individual members, obtain food, clothing, shelter and whatever else is considered desirable or necessary for the maintenance and improvement of the conditions of life.
The historical relations between philosophy and economics are of great importance in tracing the development of the latter, and have done much to determine its present form.
Mathematics has influenced the form and the terminology of the science, and has sometimes been useful in analysis; but mathematical methods of reasoning, in their application to economics, while possessing a certain fascination, are of very doubtful utility.
There would probably have been no controversy at all on this subject but for the fact that economics was elaborated into systematic form, and made the basis of practical measures of the greatest importance, long before the remarkable development in the 19th century of historical research, experimental science and biology.
The application of the a priori method in economics was an accident, due to its association with other subjects and the general backwardness of other sciences rather than any exceptional and peculiar character in the subject-matter of the science itself.
When it began to affect economics, many people were afraid that the whole fabric of science would be destroyed and the practical gains it had achieved, jeopardized.
In all branches of economics, even in what is called the pure theory, there is an implied reference to certain historical or existing conditions of a more or less definite character; to the established order of an organized state or other community, at a stage of development which in its main features can be recognized.
In common with other sciences, economics makes use of " abstractions"; but if for some problems we employ symbolic processes of reasoning, we must keep clearly in view the limits of their significance, and neither endow the symbols with attributes they can never possess, nor lose sight of the realities behind them.
To many minds the interest and usefulness of economics depend entirely on the application of these methods, for it is the actual working of economic institutions about which the statesman, the publicist, the business man and the artisan wish to know.
If we take the mere popular view of what is meant by the " old Political Economy," that is, that a generation or so ago economics was comprised in a neatly rounded set of general propositions, universally accepted, which could be set forth in a question we have really to determine is how we can make the best use of the accumulated knowledge of past generations, and to do that we must look more closely into the economic science of the 10th century..
In stating the position of economics during this time we cannot ignore all writers, except those who belonged to one group, however eminent that group may have been, simply because they did not represent the dominant ideas of the period, and exercised no immediate and direct influence on the movement of economic thought.
We must include the pioneers of the historical school, the economic historians, the socialists, the statisticians, and others whose contributions to economics are now appreciated, and without whose labours the science as we know it now would have been impossible.
No one is concerned to prove that the Ricardian economics applies to the manorial system, and it is generally supposed at any rate that the world has been approximating more and more nearly during the last century to the conditions assumed in most of the reasoning of that school.
In the case of many subjects this would matter very little, but in that of economics, which touches the ordinary life of the community at so many points, it is of great importance, especially at a time like the present, when economic questions determine the policy of great nations.
As my professors told me the first day I started studying economics in college (and never tired of repeating), scarcity is the central underlying assumption of all economic theory.
As my economics professors insisted, cost is determined by scarcity and demand.
But in spite of the relative economic displacement they all cause, free trade, outsourcing, and technological displacement all have a positive net effect on the economics of the planet.
But the big question is whether these same economics would apply in a world one hundred times richer than we are right now.
This year is the happiest because I am studying subjects that especially interest me, economics, Elizabethan literature, Shakespeare under Professor George L. Kittredge, and the History of Philosophy under Professor Josiah Royce.