The Wisdom of the Wise, 3 Lectures
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The Wisdom of the Wise, 3 Lectures

The Wisdom of the Wise, 3 Lectures


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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. 1906. Excerpt: ... THE RIGHT HON. R. B. HALDANE AND ECONOMIC SCIENCE. The allegation that Tariff Reformers discard Economic Science altogether. I. The strength of the Classical Economists in clearness of thought. II. The defects of the Classical Economists in their treatment of practical problems. III. The possibility of progress in Political Economy as an empirical and historical science. THE EIGHT HON. E. B. HALDANE AND ECONOMIC SCIENCE. The House of Commons is an excellent institution when it attends to its own business, but it does not show to advantage when it assumes the right to give an authoritative explanation of current events. There was a curious instance at the beginning of last century, during the period when cash payments were suspended and the Bank of England was not under an obligation to meet its notes with gold. A Bullion Committee had been appointed to enquire into the state of the currency; they reported that the notes of the Bank of England were depreciated as a matter of fact, while they also pointed out the steps that were necessary for a restoration of the currency. But these proposals, which were unpalatable to the majority of the House, were defeated after a long debate. Not content with this victory, the Commons proceeded solemnly to give an authoritative--though entirely mistaken--explanation of the condition of the currency. Mr Canning pointed out that little weight would attach to this pronouncement1, but the ministers were not to be gainsaid. As a writer on banking relates, --Mr Vansittart, "in the plenitude of his power and party strength and in the mere wantonness of tyranny, determined to drag the House through the lowest depths of ridicule and absurdity8." This incident does not stand quite by itself; perhaps the historian of the future may...


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Product Details
  • ISBN-13: 9781151337542
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 32
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1151337544
  • Publisher Date: 31 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 77 gr


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