Philosophic Studies of the University of Chicago Volume 8. University Of Chicago Philosophy
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Author: University Of Chicago Philosophy
Number of Pages: 24 pages
Published Date: 01 Mar 2012
Publisher: Rarebooksclub.com
Publication Country: Miami Fl, United States
Language: English
ISBN: 9781130178463
Download Link: Philosophic Studies of the University of Chicago Volume 8
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1918 Excerpt: ...vault of an undeclared assumption. And while all this is going on in the field of theory, sinister forces which have but recently been expelled from one sinecure are readjusting themselves to their new institutional environment. Probably no one supposes today that it is humanly possible to construct a social order in which there will be no flaw. The social reform which deals effectively with one institutional defect can hardly avoid leaving others. A Standard Oil magnate who died recently is reputed to have defied the country to devise antimonopolistic legislation faster than the great trusts can find other ways of exercising the same monopolistic powers. It is inevitable, therefore, that under the new order of things which ensues after a period of social reform great financial forces will grow up which owe their then form and size to the reorganized social system, and will hence be ready to fight for its perpetuation. Thus in the natural course of events economic theory becomes aligned with "those who live by profit." 'Cf. Hamilton's "The Price-System and Social Policy," Journal of Political Economy, XXVI, 31. At the same time, however, economic doctrine is by no means wholly divorced from the actual problems of the industrial world. During the entire period of acquiescence which succeeds the formulation--for purposes of fundamental reform--of a polemical doctrine there still remains the task of extending the reform movement to every cranny of the vast social edifice. Thus, while the development of economic doctrines is almost wholly confined to the super-refining of a body of principles which is for the most part already given, the reforms which called forth the main outlines of the economic theory are carried on by the economists with...
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