Indian Journal of Economics April 1940

An act considered as the act of applying the scientific principles of Economics to the attainment of a given end is the art of Economics. [...] Footnotes in the course of this paper will give generally only the author's name and the name of and the page in the journal or book and not the name of the article or hook for which this list may be consulted. [...] This interpretation of the economist's purpose in society and of the scope of economics may lead to the criticism that satisfaction or economic welfare is measurable in the case of an individual but not in the case of society. [...] In short he attempted to bridge the gulf between the unreality and abstraction of Rocardian economics and the purely decriptive ideas of the Historical School or the ideological and ethical views of the Socialists and of the Reformers like Carlyle and Ruskin. [...] " The task of the social scientist is therefore the same in all essential princples as that of the natural scientist—to apply logical proceses to the data of observation and to attempt the verification of hypothesis upon the assumption of the continuity and determination by general laws of all events." L. M..