ABSTRACT
Dissatisfaction with certain aspects of economic theory is as old as the discipline itself. Almost as soon as the classical founders completed their edifice, the antagonists began to undermine the newly erected structure. The sad state of economics has frequently been admitted by Professor Knight, one of the outstanding exponents of orthodox economics as well as one of its most penetrating critics. This book explains the function and meaning of some economic ideas with the help of the psychocultural method. The trend of modern thought has, since Kant, been away from realism, toward a hypothetical approach. The book approaches economic thought from the holistic point of view. It views man as enmeshed in the totality of the universe, of his society, culture, and environment, and within the entity of his own self, as a cosmion, a person. The psychocultural approach, by uncovering the harmonizing function of economic thought, can throw some light on the underlying cultural conflicts.
