The Study of Political Economy Hints to Students And Teachers
The Study of Political Economy Hints to Students And Teachers
J Laurence James Laurence Laughlin
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POLITICAL economy holds a very close con- nection with THE LAW on different grounds. In the first place, the disciplinary power of the study is very much that which is gained in the study and pursuit of the law. As has been already explained, the student of econo- mies is chiefly concerned in getting a firmly- rooted understanding of principles, which he is then constantly engaged in applying to the phenomena around him. Or, struck by some new or interesting fact, he sets himself to find the ca...uses of the effects he has observed. In thus applying general principles to explain special facts, the student of political economy is doing almost exactly that which the student of law does, when he applies legal principles to particular cases, or when he is considering THE STUDY OF POLITICAL ECONOMY. 9I whether the interpretation of the law in a de- cision of the courts applies also to the special case he has in hand. The modern theory of legal teaching no longer recognizes the wisdom of simply filling the mind with statements of what the law now is, but aims to force the student, under oversight, to discover the prin- ciple running through multitudes of cases al- ready decided, or constantly to apply principles to given facts.
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