Principles of Economic Policy

Principles of Economic Policy

Principles of Economic Policy

Principles of Economic Policy

Excerpt

Principles is a well-worn word; nevertheless, I could not have written this book if I had not believed that there are statable principles of economic policy, the understanding of which enables both the policy maker and the public to form wiser judgments in these matters. A study of economic policy is an introduction to economic principles. Policy is not one thing and principles another; the principles of economic policy are the principles of economics.

These principles do not provide quick answers for every occasion. They are a rather small-scale map of the great world of economic policy, and they do not give guidance in detail. A map is not a substitute for the land itself and should not be mistaken for reality. Without a map, however, it is easy to get lost in territory as wild and unfamiliar as this is. The development of better maps of economic policy has been one of the major achievements of the twentieth century. Reading this volume is not enough to make the reader an economist, but it will give him some notion of the "lay of the land," which he might not otherwise have.

Both the general reader and the student will find this an introduction to the principles of economics rather than to its techniques. Techniques have their place and are essential to . . .

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