We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
ISOLATIONISM IN ECONOMIC METHOD: A COMMENT.
- Authors
Noyes, C. Reinold
- Abstract
This article presents the author's comments on George J. Schuller's article on isolationism in economic method. The author finds Schuller's analysis of the components and sources of isolationism, its advantages, its disadvantages and the extent to which it is a "curable disease" highly illuminating. Adam Smith's analytical description of the workings of the British economy in his time is surely a masterpiece. He was also idealistic in the sense that he advocated more "natural liberty" to reach his ideal state. But he was not much of an abstractionist. The German historical school has often been ascribed to a revulsion from the English classical school by reason of the fact that Adam Smith's picture of the late eighteenth century bourgeois economy of Great Britain did not represent the mid-nineteenth century feudal economy of Germany. In a sense this school was an attempt at a new realism. It is opined that the crying need of economics today is a partnership between the realist and the abstractionist--the experimentalist and the theorist--both eliminating idealism so far as they can. Each needs the other. For neither can arrive at any well-established conclusion without the aid of the other.
- Subjects
UNITED Kingdom; GERMANY; SCHULLER, George J.; SMITH, Adam, 1723-1790; ECONOMISTS; ISOLATIONISM
- Publication
Quarterly Journal of Economics, 1950, Vol 64, Issue 3, p483
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884562