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Excerpt from The Wisdom of the Wise: Three Lectures on Free Trade Imperialism
Modern Logicians and Economic Methods, which Mr Haldane delivered to the Scottish Society Of Economists, he complains that during the two years which have just gone past, a good many people have written, and still more have spoken as if they imagined that the characteristic categories of the old economists belong properly to the lumber Though he exempts me from this accu sation, he still seems to think that the language which I used about the Classical Economists, in my address as President Of the Economic Section Of the British Association at Capetown, was unduly disparaging. But the suggestion that we discard scientific treatment is a charge which we repudiate altogether; the matter is far too difficult to be dealt with properly by crude common sense, or in a dilettante fashion. We fully realise the import ance not only of clear thinking, but of hard study as well. It is worth while to spend a little time in considering the lines on which such thorough investi gation must proceed; and to try to see how far we should be content to follow the great writers Of the past, and in what ways modern science may claim to have advanced beyond their standpoint.
I. In the paper from which I have already quoted, Mr Haldane has given us an admirable statement as to the great excellence Of the Classical Economists.
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