Meaning and validity of economic theory: a historical approach

Since a preface usually contains an author's personal statement indicating the design and drift of his book, it may be useful to set down here some of Dr. Rogin's descriptions of his project. After doing a study on the history of farm machinery (undertaken before his primary interest had shifted to economic theory), he began to gather material and elaborate the point of view for what he then called "A Comprehensive Study in the History of Economic Thought; an Historical Approach to the Meaning and Significance of Economic Theory." In 1945 he wrote: "It has become second nature for me to look at ideas in their relation to policy. I have been working for several years on the development of economic theory in relation to policy. My attention has been confined to European developments." (Originally, developments on the American scene were to have been next on his writing agenda. However, he be came increasingly interested in Mr. Keynes, and after writing the study he called "The Evolution of a Heresy," he laid it aside to use in a book on Mr. Keynes alone, and began his chapter for this book again, this time with a discussion of "The General Theory.")