Economics Course.

Conscientious students will by this time have learnt from the best text-books that Economics is a science. It is essential that, to grasp this idea clearly, as its assists in the cramping of one's ideas on the subject into the circumscribed limits. The economist is very like the man seated beneath the banyan tree studying a book on longevity while a hungry tiger considers him with a pleased look in his eye. Economics consists of erudite commonplaces on a system rapidly becoming effete. It is not within its scope to contemplate any of the philosophical or political developments which every moment threaten to engulf it.

The scientific method of the economist is peculiar to himself. It should be called the "Economic Method." Rather than gather the facts from which to ascertain the truth, he asserts the truth (obtained from some other course) and sets about collecting such facts as will support it. If, as is sometimes the case, he changes his mind, this is due to Progress, which is also responsible when he changes his mind back again.

That a course in economics provides a valuable training in versatility is demonstrated clearly in the diversity of opinion it breeds on any question of importance. As a certain wise man has said, "If all the economists in the world were placed end-to-end they would never reach a conclusion.

I offer a Parliamentary apology if I have suggested that a course in Economics is of very little value.

R.S.O.