ABSTRACT

The question of the essence of the authors' exact system can now be answered very briefly and clearly due to that, which they have already said about it. The purely static economy is nothing else than an abstract picture of certain economical facts, a schema that is supposed to serve for the description of the same. There is nevertheless an inclination in which one can say that the theory is absolutely valid, yes, unfailing and even independent of factual observations. This is sustainable by its "logical accuracy". What the historian actually means when he accuses the theory of its "deductive approach" and demands a factual study is not that the theory takes no account of facts–misunderstandings on his part and encroachments of the theorists aside–but rather something else. Deterred from the many attacks of exposed, mechanical analogies, one resorted to the biological ones.