The Importance of the Theorems of Economics

Main motive for development of polylogism, historicism and irrationalism was to provide a justification for disregarding the teachings of economics in determination of economic policies. No scientist is entitled to assume beforehand that a disapprobation of his theories must be unfounded because his critics are imbued by passion and party bias. It is incumbent upon no branch of learning other than economics to examine all the objections raised from various points of view against the statements of economic theory.