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[This book] is intended as a text from which the student can learn and the [[teacher] can teach the methods and results of economic analysis. It also seeks to be a contribution to the development and systematization of the body of economic analysis itself. These purposes are not separate. The task of presenting a systematic, orderly, and accurate account of economic analysis is identical with the task of preparing the material for teaching. It must be emphasized, however, that the purpose of this work is not primarily to entertain the student, or to enable him to regurgitate appropriate material into examination books, or to learn a few pat phrases, or to indoctrinate him with an abstract discipline which he will never use. Economics is like photography in this respect, that under-exposure is less desirable than no exposure at all.
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p. xv

 

Kenneth Boulding

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We have defined the main task of economic analysis as the explanation of the magnitudes of economic quantities. The student will find also that the main part of this, as of most other works on the subject, is concerned with the theory of the determination of prices, wages, interest rates, incomes, and the like. He may well inquire, therefore, in the midst of so much mathematics, whether the first task of economics is not the investigation of wealth, or welfare. Some economists have endeavored to restrict the boundaries of the science to the investigation of those quantities which are numerically measurable. Well-being, under such a restriction, would not be part of economics at all.

 

Kenneth Boulding

 

It is obvious that teaching is a very special art, sharing with only two other arts, agriculture and medicine, an exceptionally important characteristic A doctor may do many things for his patient, but in the final analysis, it is the patient himself who must get well, grow in health. The farmer does many things for his plants or animals, but in the final analysis, it is they that must grow in size and excellence. Similarly, although the teacher may help his student in many ways, it is the student himself who must do the learning. Knowledge must grow in his mind if learning is to take place.

 

Mortimer Adler

 

By stating that the analysis of the laws of motion governing the capitalist mode of production necessarily includes at least some essential elements of an analysis of economic phenomena valid for the whole historical epoch encompassing economic organizations in which commodity production exists, one extends the validity of parts of Marx’s Capital not only into the past but also into the future.

 

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Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much. However, careful economic analysis does have one important benefit, which is that it can help kill ideas that are completely logically inconsistent or wildly at variance with the data. This insight covers at least 90 percent of proposed economic policies.

 

Ben Bernanke

 

I have described at some length the application of Positive Rays to chemical analysis; one of the main reasons for writing this book was the hope that it might induce others, and especially chemists, to try this method of analysis. I feel sure that there are many problems in chemistry, which could be solved with far greater ease by this than any other method. The method is surprisingly sensitive — more so than even that of spectrum analysis, requires an infinitesimal amount of material, and does not require this to be specially purified; the technique is not difficult if appliances for producing high vacua are available.

 

J. J. Thomson