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Money by Dennis H. Robertson, M.A. ; With introduction by John Maynard Keynes, M.A., C.B. (New Edition Revised)

Money by Dennis H. Robertson, M.A. ; With introduction by John Maynard Keynes, M.A., C.B. (New Edition Revised)


New York : Harcourt, Brace and Company, 1929. New Edition Revised. Hardcover. 202 pages ; 19 cm. Missing dust jacket. Owner name on flyleaf. Fading to boards. One spot stain on the front cover and two spot stain on the rear cover. Corners edge bumped. Pages are age toned and unmarked. Binding is firm.


The Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions. It is not difficult in the sense in which mathematical and scientific techniques are difficult, but the fact that its modes of expression are much less precise than these renders decidedly difficult the task of conveying it correctly to the minds of learners.

Before Adam Smith, this apparatus of thought scarcely existed. Between his time and this, it has been steadily enlarged and improved. Nor is there any branch of knowledge in the formation of which English¬men can claim a more predominant part. This series, however, is not directed towards making original con¬tributions to economic science. Its object is to expound its elements in a lucid, accurate, and illuminating way, so that the number of those who can begin to think for themselves may be increased. It is intended to convey to the ordinary reader and to the uninitiated student some conception of the general principles of thought which economists now apply to economic problems. The writers have been more anxious to avoid obscure forms of expression than difficult ideas. Most of the omissions of matter often treated in textbooks are intentional; for as a subject develops, it is important, especially in books meant to be introductory, to dis¬card the marks of the chrysalid stage before thought had wings.

Even on matters of principle there is not yet a com¬plete unanimity of opinion amongst professional stu¬dents of the subject. Immediately after the war daily economic events were of such a startling character as to divert attention from theoretical complexities. But today, economic science has recovered its wind. Tra¬ditional treatments and traditional solutions are being questioned, improved, and revised. In the end this activity of research should clear up controversy. But for the moment controversy and doubt are increased. The writers of this series must apologize to the general reader and to the beginner if many parts of their sub¬ject have not yet reached to a degree of certainty and lucidity which would make them easy and straight¬forward reading.



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