Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
Here we must go slowly, if we would go surely. We must first find out
exactly what a Science is in general, and then ascertain in particular
whether Political Economy bears all the marks and stands all the tests
of the other genuine Sciences. What is a Science?
_A Science is the body of exact definitions and sound principles
educed from and applied to a single class of facts or phenomena._
The very first condition, accordingly, of any science is, that there
be a single class of facts, objective or subjective, that can be
separated from all other classes of facts, in the mind by a
generalization and in words by a definition, and that such
generalization and definition be clearly made and held; the second
condition is, that the class of facts so circumscribed and defined be
open to some or all of the logical processes of construction, of which
the most important are Induction and Deduction; the third condition
is, that the subordinate definitions and working principles within the
inchoate Science be all educed from and applied to these circumscribed
facts in strict accordance with these well-known logical processes;
and the last condition is, that these definitions and principles have
gradually become "_a body_," in which there is an organic arrangement
of parts, all being placed in a just order and mutual interdependence.
There is no old Science, and there can be no new Science, in which
these four conditions do not meet and become blended; and the beauty
of it is, that this Definition applies to any Science in all stages of
its growth. No one of all the Sciences is as yet completed; but just
so soon as any correct definitions and principles are drawn from and
applied to any _class_ of things clearly circumscribed as such, and
these definitions and principles are orderly arranged in a _body_,
there is an incipient Science; and its progress towards perfection
will proceed in precisely the same manner in which its foundations
have been laid; new facts and principles and definitions will
gradually be discovered, and these when reapplied to the class of
things out of which they have sprung, will lead to corrections and
adjustments and enlargements of the Science; and no matter how far
these logical processes may be carried, the general Definition with
which we start will also be found ample at the end of the journey.
All of the Sciences without exception have been developed into their
present position in just this manner; and they fall easily into three
great classes, namely, the Exact, the Physical, and the Moral
Sciences. The ground of this triple classification is partly the
distinct subject-matter in the three classes of Sciences, and partly
the distinctive prominence of one or more of the logical processes of
construction in each.
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