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An Introduction to Economics

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An Introduction to Economics

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    Available in PDF Format | An Introduction to Economics.pdf | Unknown
    Graham Allan Laing
Excerpt from book: CHAPTER II THE THEORY OF ECONOMIC DEVELOPMENT Economic History ? A good deal was said in the last chapter regarding the importance of history in the study of economics. It is impossible, even if it were desirable, to give a complete account of economic development in the present study. Nevertheless it is possible to indicate the general theory of economic development so that the reader may have the necessary basis for the future study. History is not a mere haphazard study of unrelated facts. Facts in themselves are not important: it is in their significance that their importance lies. The whole value of the study of the facts and events of history lies in the possibility of determining the nature of historical progress. The antiquary is interested in the life of the past apart from all consideration of the influence of the past upon the present, but the antiquary and his studies are of no importance to the economist. What we want to find out is whether there are any laws of development: that is, whether economic growth is the result of accident or of a definite method of development. Nothing happens in nature without a cause. The effects of certain causes become themselves the cause of future events and if we could discover it, we should find that there is a definite chain of causes and effectsgoing right back to primitive history. The tracing of that chain of events belongs to the study of history, but the results of the historian's work must be used by the economist. We can realize that there is a definite line of progress leading from a simple organization to a more complex until we arrive at the extreme complexity of the modern economic structure. What that line is we must now proceed to indicate. The Four Stages of Development ? In the main we may distinguish fo...  
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  • PDF | 270 pages
  • Graham Allan Laing
  • General Books LLC
  • Unknown
  • 9
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