ABSTRACT
The change has come about through the Great War which was a severe drain on our resources both of man-power and of material wealth. It was probably unequalled in extent and in ferocity by former wars, either ancient or modern. Economics differs from the exact sciences in that we have the extraordinary phenomenon of human nature to deal with, and there is the added complication that in every economic problem you have the human element to take into account. The science of chemistry was evolved from alchemy, and astronomy emerged from astrology, thus if economics be not yet a science, it may be that as a result of further research and developments it will sooner or later obtain full recognition as a science. The purpose of economics is to make men realise what the function of capital is and to impress on men the importance of using it aright, not only for the benefit of themselves but of others.
