Excerpt from Total Utility and the Economic Judgment: Compared With Their Ethical Counterparts a Dissertation Presented to the Faculty of Bryn Mawr College for the Degree of Doctor of Philosophy
The general object of this study is to set forth the organic connection between certain concepts appearing as integral parts of modern ethical and economic theory, and to indicate several points of similarity in the logical processes which they involve. The position of the person who draws analogies between two sciences, or two fields of human thought, or who asserts parallelisms and identities is one of peculiar difficulty. Not only are there separate fields to cover, and separate philosophical and critical points of view to consider, but the difficulties of terminology are great. The same words are often used in different subjects with a different connotation, or terms used in one science in a specialised sense, are often misleading or meaningless in another connection. This is especially true with respect to ethical and economic terminology, where such words as; "value," "worth," "interest," and many others receive in each science a specialised and technical meaning.
Nevertheless, it is necessary at all periods of speculative thinking to point out likenesses as well as differences; to emphasise grounds in common as well as specialised characteristics; and last of all, to apply methods found to be fruitful in one field of investigation to another, in hopes of attaining new or suggestive results. It is this latter point which I wish to emphasise. Analogies and parallelisms between Ethics and Economics may be multiplied ad libitum. They will always be suggestive for illustration and example, but as such, have an explanatory rather than a scientific or definitive value. But in the course of speculative thinking in the nineteenth century a subjective field of inquiry was opened up to the political economist.
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