Purpose and Plan of this Book

John C. Carrington and George T. Edwards

Chapter 1 in Reversing Economic Decline, 1981, pp 1-12 from Palgrave Macmillan

Abstract: Abstract A great deal of modern economics is theoretical. Theories are all very well, but if theory is to be useful as a guide to practice, then a comparison needs to be made, from time to time, between the predictions of the theories and the touchstone of the objective reality. This is the more important because, as Keynes pointed out, ‘Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist.’1

Keywords: Cash Flow; Inflation Rate; Pension Fund; Disposable Income; Economic Sector (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16497-4_1

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DOI: 10.1007/978-1-349-16497-4_1

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