By Theo Suranyi-Unger, R. A. Seligman
This publication discusses the historical past of monetary theories, drawing principally from periodical literature, that is usually demanding to procure. The ebook is split into sections alongside linguistic strains (German, Romance and English talking countries).
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Additional info for Economics in the Twentieth Century: The History of its International Development
These ideas of Miinsterberg succeeded in directing attention in America to the general problem of values. In this way this atti- PHILOSOPHICAL SOURCES 17 tude, which had already been stressed by Clark and Seligman among others, penetrated even further into American economic theory. The same result was attained by the theories of the more recent American sociology, which is both biologically evolutionary and psychologically voluntaristic (Lester F . Ward, F . H . Giddings, C. H . Cooley), and which directly influenced certain young economists who are attempting to bring about an extension of the concept of economic values, and to put it in its proper place in the hierarchy of the other, more general, values.
In mentioning these leading traits of German culture, we do not wish to imply that there did not exist at the same time—notably under foreign influences—other intellectual currents. Especially in the seventies and eighties, a realistic movement came to the fore, of which the chief examples are the sober, nationalistic policy of Bismarck, the partly naturalistic doctrines of Nietzsche's later philosophy and last, but not least, the materialistic teachings of Marx. It is significant, however, that Bismarck, Nietzsche and Marx in their youth all came under the influence of Idealism.
But since, as he taught, everything which is conducive to pleasure is also conducive to life and since life itself is the goal of the whole evolutionary process, one can make of life itself the direct ethical aim. According to this, all actions which subserve life are good, whereas all those which tend to PHILOSOPHICAL SOURCES 17 diminish life, or to deny it, are to be considered bad. Morality should, however, as far as possible, further not only self-preservation but also the life of one's own and of future generations.
Economics in the Twentieth Century: The History of its International Development by Theo Suranyi-Unger, R. A. Seligman