Industry income and investment: the common sense of economics
- London George G. Harrap 1962
- 376 p.
The object of this book is to try to fit between the covers of one volume most of what a boy or girl requires to know in order to pass the G.C.E. at O and at A Level in Economics. If the pupil wishes to pass with distinction, or to reach scholar ship level, it will be necessary for him or her to read further. Consequently, each chapter contains at the end a bibliographical note. There are three ways to approach Economics. First, descriptive; second, analytical; third, applied or practical. The student must be able to describe accurately what happens in the economic world, otherwise he will never be able to follow the sequence of events, and so discern the starting-point from which the causes and effects of these events can be analysed. The analysis in this book is elementary, and the mathematical approach has deliberately been avoided. The problems of supply and demand and the real rôle of money have been examined at considerable length, and the arguments have perhaps been repeated too often, but I do not think so, be cause the teacher has to deal not only with the brilliant pupil but with the less talented learner, who tends not to grasp the significance of the fundamental ideas until these have been hammered home hard and often. Finally, to my mind, Economics has no value unless the pupil is able to apply his knowledge to understanding and solving the everyday problems of life. As Marshall said, "The Economist, like every one else, must concern himself with the ultimate aims of man."