PART III. THE PRESUPPOSITIONS OF ECONOMIC THEORY CHAPTER VIII THE PHILOSOPHICAL AND PSYCHOLOGICAL PRESUPPOSITIONS Connection between social philosophy and metaphysics and epistemology always close--Three stages in history of philosophy: dogmatic, skeptical, critical--Ancient and modern philosophy have each gone through these three stages--Each philosophic stage characterized by distinctive social philosophy: individualism and sociological monadism go with skeptical philosophy, while organic conception of society goes with critical stage--Economics to-day based on skeptical philosophy of Hume--Doctrine of sociological monadism: Marshall, Pareto, Jevons, Veblen, Davenport--Critique of sociological monadism, from standpoint of epistemology and psychology 59 CHAPTER IX THE SOCIOLOGICAL PRESUPPOSITIONS Conceptions of the social unity: mechanical, biological, psychological--DeGreef's criticism of mechanical and biological analogies--Hierarchy of sciences: Comte and Baldwin--Baldwin's psychical abstractionism--Cooley's psychological conception of the nature of society seems most useful for purposes of this study--Cooley's view--Relation between Cooley and Giddings: the Social Mind--Summary of sociological doctrine--Critique of Davenport 72 PART IV. A POSITIVE THEORY OF SOCIAL VALUE CHAPTER X VALUE AS GENERIC--THE PSYCHOLOGY OF VALUE