Francis Ysidro Edgeworth

“ In that way indeed he did hope they would exercise a wholesome influence on the character of economic discussion. In the past, time had been wasted in controversies which ought never to have come into existence—controversies based upon a perversion of the words of some writer, the critic interpreting them in the most foolish sense possible, and then writing long articles to prove that they were absurd when thus misinterpreted. ”

“ He had been warned by Professor Marshall against saying that there was anything orthodox in any school of economics. But economists were entitled to say that there were—he would not call them schools, because they could not claim that title at all—but certain groups of men who seemed to disbelieve in the possibility of any economic science whatever. There never was a time in the history of our country when it was more necessary that the truths of this science should be studied with boldness and single-mindedness ”

“ There was scarcely a department of the science where it was not necessary to look to the very foundations of their doctrines, because these very foundations were attacked in so many quarters. It was impossible for any economist to look for the acceptance of certain axioms, for in these days those very axioms were disputed by those who derided economists. In fact, it seemed to be a daring undertaking to profess themselves economists, because there was a general idea that economists had finished their proper work in the education of the nation. ”

“ The establishment of a journal of this kind would be a means not only of concentrating in one available form the views of many economists, but would also form such an interesting literary work as to command the attention of those who were not economists, but to whom the demonstration of certain doctrines of the science would be of considerable advantage. He saw in certain quarters men who called themselves political economists, but who had not the slightest idea what economics were. ”

“ Professor Marshall said the question as to the desirability of holding meetings for discussion had been long and frequently debated in private. As he had just said, the question whether they should ultimately hold discussions had been left undecided. But they had almost unanimously come to the conclusion that it would be better not to hold them at present. For such discussions, unless conducted by a very strong Association, might do harm: they might be attended chiefly by people whose time was not very valuable. ”

“ For although England in 1870 had a stronger array of economists than any other country--not more learned, but more full of creative power within a few years the greater number of them were dead. Cairnes, Jevons, Bagehot, Cliffe Leslie, Toynbee, and Fawcett, whose power and originality placed them in the first rank, and who would have been the right men to take the lead in such a movement, died prematurely in the prime of life. ”

“ Besides that, he had received a great number of suggestions from persons who were not economists, some of which expressed the hope that the proposed Association would 'exert a wholesome influence.' That was the one thing which he hoped they would not set themselves to do. Their desire was not to 'exert a wholesome influence' in the sense of setting up a standard of orthodoxy, to which all contributors had to conform; economics was a science, and an 'orthodox science' was a contradiction in terms. Science could be true or false, but could not be orthodox ”

“ Since isolated pamphlets, however able, seldom obtain any considerable circulation, Englishmen who have something to say that is too technical for the ordinary magazines, and too short for a book, are sometimes compelled to give their views to the world in the columns of a foreign periodical, or as a publication of the American Economic Association ”

“ He was a man who combined the highest business knowledge with the highest economic training. Working in this spirit, he hoped they would be able to promote economic knowledge by fair and frank discussions, while avoiding that waste of effort in bitter and ungenerous controversy which had long impeded progress.
Mr. Giffen, in seconding the resolution, had little to add to what had been so well said by Professor Marshall as to the formation of an economic association, primarily with the purpose of establishing a journal. ”

“ All sciences in their early youth had been pestered by this sort of controversy, though economics had suffered more than others. The one influence which he hoped they would exercise would be that they would start from an absolutely catholic basis, and include every school of economists which was doing genuine work. ”

“ THE BRITISH ECONOMIC ASSOCIATION
The British Economic Association is open to all schools and parties; no person is excluded because of his opinions. The Economic Journal, issued under the uthority of the Ass6cition, will be conducted in a similar spirit of toleration. It will be open to writers of different schools. The most opposite doctrines may meet here as on a fair field. Thus the difficulties of Socialism will be considered in the first number; the difficulties of Individualism in the second. Opposing theories of currency will be represented with equal impartiality. ”

“ Goschen, to discuss proposals for the foundation of an economic society or association, and in conjunction therewith of an economic journal. In the circular convening the meeting, and signed by Professor Alfred Marshall, of Cambridge, it is stated that 'the need of an economic journal has long been felt in England. Every other country in which economic studies are pursued with great activity offers facilities for the publication of thorough scientific work by persons who have not the time, or are unwilling, to write a formal treatise. ”

“ A strong and widespread feeling that English economists, and especially the younger men among them, are thus placed at a great disadvantage through the want of any easy means of communication with one another, has led to the holding of many private meetings and discussions on the subject in Oxford, Cambridge, London, and possibly elsewhere ”

“ But there were two or three words in it which apparently were not quite consistent with the catholicity which Professor Marshall had rightly demanded as the prime characteristic of the association. Persons were required not only to desire to further the aims of the Association, but to be approved by the council before they could be admitted to membership. ”

“ He trusted that those who should control this journal would insist that all who wrote in criticism of others should take the writings of those others in the best possible sense, and in that way all schools might work amicably together, interpreting each other in the fairest and most generous manner ”

“ If it gave examples of really hard thinking, it must lead persons to some conclusions which might or might not be right, but which would impress those who read their contribution with the conviction that there was a right and a wrong way of working at political problems. ”