20:53 | Author: sang pencari ilmu

Economic condition  are constanly changing,and each generation looks at its own  problems in its own way. In England, as on the continent and in America, Economics studies are being more vogorously pursued now than ever before; but all this activity has only shown the more clearly that economic science is, and must be, one of slown and continous growth. Some of the best work of the present generation has indeed appread at first sight to be antagonistic to that of earlier writers; but when it has had time to settle down into its proper place, and its rought edges have been worn a way, it has been found to innolve no real breach  continuity in development of the science. The new doctrines have supplemented the older, but very seldom have subverted them.
Application of the principle of continuity is the use of terms. There has always been a temptation to classify economic goods in clearly defined groups about which a number of short and sharp propositions could made, to gratify at once the student's desire for logical precision, and the popular liking for dogmas that great mischief seems to have been done b yielding to this  temptation, and drawing broad artificial linesof division where nature has made none. The more simple and absolute an economocs doctrine is the greather will be the confusion  which it brings into attempts to apply economic doctrines to practice, if the divilding lines to which it refers cannot be found in real life. There is not in real life a clear line of division between things are and are not capital, or that are not necessaries, or againt between labour that is and not productive.          
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