“Que pourrions-nous gagner,” once wrote a celebrated economist, “à recueillir des opinions absurdes, des doctrines décriées, et qui méritent de l’être? Il serait à la fois inutile et fastidieux de les exhumer.”[I-1] One who studies the development of social theory can hardly hope to avoid the criticism which is brought against those who disturb the dust in forgotten lumber-rooms. If he seeks an excuse beyond his own curiosity, he may find it, perhaps, in the reflection that the past reveals to the present what the present is capable of seeing, and that the face which to one age is a blank may to another be pregnant with meaning. Writing when economic science was in the first flush of its dog…
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