large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb_39
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
English
11381
It is suggestive also that the leaders of the new school in Germany and England have reached no different results by their new method, and in the main agree with the laws evolved by the old English school. IT IS SUGGESTIVE ALSO THAT THE LEADERS OF THE NEW SCHOOL IN GERMANY AND ENGLAND HAVE REACHED NO DIFFERENT RESULTS BY THEIR NEW METHOD AND IN THE MAIN AGREE WITH THE LAWS EVOLVED BY OLD ENGLISH SCHOOL
can only be truly discovered by induction, or a study of phenomena first, as the means of reaching a generalization. To them Bagehot(80) answers that scientific bookkeeping, or collections of facts, in themselves give no results ending in scientific laws; for instance, since the facts of banking change and vary every day, no one can by induction alone reach any laws of banking; or, for example, the study of a panic from the concrete phenomena would be like trying to explain the bursting of a boiler without a theory of steam. More lately,(81) since it seems that the new school claim that induction does not preclude deduction, and as the old school never intended to disconnect themselves from “comparing conclusions with external facts,” there is not such a cause of difference as has previously appeared. Doubtless the insistence upon the merits of induction will be fruitful of good to “orthodox” writers, in the more general resort to the collection of statistics and means of verification. THEY THEREFORE ASSERT THAT ECONOMIC LAWS CAN ONLY BE TRULY DISCOVERED BY INDUCTION OR A STUDY OF PHENOMENA FIRST AS THE MEANS OF REACHING GENERALIZATION TO THEM BAGGAGE ANSWERS THAT SCIENTIFIC BOOK KEEPING OR COLLECTIONS OF FACTS IN THEMSELVES GIVE NO RESULTS ENDING IN SCIENTIFIC LAWS FOR INSTANCE SINCE THE FACTS OF BANKING CHANGE AND VARY EVERY DAY NO ONE CAN BY INDUCTION ALONE REACH ANY LAWS OF BANKING OR FOR EXAMPLE THE STUDY OF PANIC FROM THE CONCRETE PHENOMENA WOULD BE LIKE TRYING TO EXPLAIN THE BURSTING OF A BOILER WITHOUT A THEORY OF STEAM MORE LATELY SINCE IT SEEMS THAT THE NEW SCHOOL CLAIM THAT INDUCTION DOES NOT PRECLUDE DEDUCTION AND AS THE OLD SCHOOL NEVER INTENDED TO DISCONNECT THEMSELVES FROM COMPARING CONCLUSIONS WITH EXTERNAL FACTS THERE IS NOT SUCH A DIFFERENCE AS HAS PREVIOUSLY APPEARED DOUBTLESS THE INSISTENCE UPON THE MERITS OF INDUCTION WILL BE FRUITFUL OF GOOD TO ORTHODOX WRITERS AND THE MORE GENERAL RESORT TO THE COLLECTION OF STATISTICS AND MEANS OF VERIFICATION
large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb
file
download/librilight/large/11381/principles_political_economy_1812_librivox_64kb_mp3/principlesofpoliticaleconomy_03_mill_64kb.flac