It need hardly be pointed out that in the economic life we find situations exactly corresponding to those of "conscience and temptation" and mechanical "pull and haul" which were discriminated in the ethical sphere and marked off from judgment properly so called. Indeed it seems reasonable to think, on general grounds of introspection, that these methods of decision (if they deserve the name) are, relatively speaking, more frequently relied upon in the economic than in the moral life. The economic method of true judgment is roundabout and more complex and more difficult than ethical, and involves a more express recourse to those abstract conceptions which for the most part are only implicitly involved in valuation of the other type. The economic type of valuation, in fact, differs from the ethical, not in an absolute or essential way, but rather in the explicitness with which it brings to light and lays bare the vital elements in valuation as such. In general, then, the economic process would seem necessarily to embrace three stages, which will first of all be enumerated and then very briefly explained and discussed. These are: (1) a preliminary consideration of the means necessary to attain the end--which must be vague and tentative, of course, for the reason that the end as imagined is so, as compared with the fulness of detail which must belong to it before it can be finally accepted; (2) a consideration of the means, as thus provisionally taken, in the light of their present devotion to other purposes, this present devotion of them being the outcome, in some degree at least, of past valuation; (3) final definition of the means with reference to the proposed use through an adjustment effected between this and the factors involved in the past valuation.