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Lament for Economics

Nature volume 141, page 996 (04 June 1938) | Download Citation



THE indictment is that “ the economic theory of to-day is useless because it is unintelligible ; because, after all their arduous studies, the economists cannot be relied upon not to give diametrically opposite diagnoses and prognoses of the same situation... ; because the economists feed on their own tails by busying themselves with the analysis of imaginary worlds which they themselves have invented ; and because they are passing off as the result of purely scientific inquiry what is in reality no more than a partisan advocacy of particular social policies”.

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