Tendencies in American Economic Thought
Tendencies in American Economic Thought
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22 Tendencies in American Economic Thought. [588 Whatever Carey's faults in method or errors in thought, he is worthy of commendation for his strong and eminently ac- curate grasp upon the principles of American economic progress. He belongs in reality to the historical school. In spite of some vagaries, which have brought him more than adequate censure, he deserves greater praise than many of the purely negative adherents of that school, because he made a strenuous attempt to construct a posit...ive philosophy of economic and social progress. Carey's influence upon the science is marked, in spite of his deriders. The law of diminishing returns is no longer treated as an absolute law. The proviso is made in stating it that under given conditions as to the arts of cultivation, skill in organization, intelli- gence in conduct of agriculture, etc. , proportionate returns decrease with increase of capital and labor applied. What Carey urged was that more intelligent methods, etc. , led to increasing returns.
What to read after Tendencies in American Economic Thought?
You can find similar books in the "Read Also" column, or choose other free books by Sidney Sherwood to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
22 Tendencies in American Economic Thought. [588 Whatever Carey's faults in method or errors in thought, he is worthy of commendation for his strong and eminently ac- curate grasp upon the principles of American economic progress. He belongs in reality to the historical school. In spite of some vagaries, which have brought him more than adequate censure, he deserves greater praise than many of the purely negative adherents of that school, because he made a strenuous attempt to construct a posit...ive philosophy of economic and social progress. Carey's influence upon the science is marked, in spite of his deriders. The law of diminishing returns is no longer treated as an absolute law. The proviso is made in stating it that under given conditions as to the arts of cultivation, skill in organization, intelli- gence in conduct of agriculture, etc. , proportionate returns decrease with increase of capital and labor applied. What Carey urged was that more intelligent methods, etc. , led to increasing returns.
What to read after Tendencies in American Economic Thought?
You can find similar books in the "Read Also" column, or choose other free books by Sidney Sherwood to read onlineMoreLess
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