Scope and method of political economy

THE nature of the topics discussed in the following pages is sufficiently indicated in the introductory chapter, and a lengthy preface is therefore unnecessary. The abstract discussion of methods may appear to some to have mainly an academic interest, since it does not directly extend our knowledge of economic phenomena. Whilst, however, we ought to be upon our guard against allowing any such discussion to obscure the greater importance of actual economic investigations, the subject is one to which all students of economics. must necessarily give some attention in the course of their reading, and its indirect bearing on the solution of practical economic questions is very far indeed from being without importance. Unfortunately almost. every problem connected with the scope and method of political economy has given rise to conflict of opinion; and the resulting controversies have sometimes been very bitter.