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The Place of Science in Modern Civilisation, and Other Essays

Note 5 — THE PRECONCEPTIONS OF ECONOMIC SCIENCE[1]

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It may be remarked, by the way, that the use of the differential calculus and similar mathematical expedients in the discussion of marginal utility and the like, proceeds on this psychological ground, and that the theoretical results so arrived at are valid to the full extent only if this hedonistic psychology is accepted.

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