Excerpt from Dictionary of Political Economy, Vol. 2: F-M
The works of the writers noticed throughout the volume are widely unlike in character. Some are the labours of practised scholars with a perfect command of the vocabulary they employ, enforcing the broad views which wider experi ence enables them to express. Others have been the jottings down of hard working but comparatively uneducated men, full of practical common sense and of shrewd observation, but sometimes exhibiting a deficiency in dialectic skill which prevents them from setting forth the truths they desire to inculcate to fullest advantage. Again, the history of science has often to record periods of abatement in energy, but after a time of quiescence the vigour of a living study invariably revives.
Besides the historical articles and those describing the works of economic writers, the side of pure theory has also received due attention. Thus, to select merely the subject of Method, the volume contains articles on Graphical Method, Historical Method, and Inductive Method, Logic and Political Economy, and Method of Political Economy, Mathematical Method, and many other articles on similar subjects, and the Laws of Political Economy, giving a full explanation of this diﬂ'icult and often debated expression. Under the heading of Labour Exchange will be found illustrations of the, Labour Notes issued by associations under the inﬂuence of Owen and Place. This phase of an earlier movement, designed to bring all labour to a parity of value, is now almost forgotten. But in its time it bore an important part among the passing inﬂuences on current thought.
I desire again to express my best thanks for many valuable suggestions, much kind help and useful information most liberally supplied. This has been to me a source of constant pleasure and a great advantage to the work; especially I desire to record that this volume has greatly benefited both as to its form and its substance through the special help of Dr. Bonar, Mr. Henry higgs, -mr. E. Schuster, and Mr. H. R. Tedder. Only the Editor can know the value of this assistance.
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