The Double Nature of the Problem— The Great Antinomy

  • Walter Eucken

Abstract

(1) the first main problem of economics which we pose arises simply from looking directly at the facts now around us, at the stove, for example, as it is to-day, or at the wages of the workers this week, or the buying of food to-day. From this we are led to ask about the interrelationships of everyday economic life. If we think back a few years or decades, everyday economic life looked quite different and proceeded in many respects in quite a different way from that in which it does now and did then elsewhere in other parts of our own country and abroad. Henry Ford in the centre of American motor-car production at Detroit had an American village built in the style of the mid-nineteenth century. From all over the country buildings and workshops belonging to that period were brought together. Churches, schools, a town hall, blacksmiths’ forges, windmills, and bakeries were erected, and there was a coach and horses to provide transport. Everyday economic life went on there in quite a different social, political, intellectual, and technical environment from that of contemporary Detroit; the difference being as great as that between the customs and ideas of Tibet and those of Poland, or those of Brazil and those of the eastern parts of the United States.

Keywords

Economic Crisis Europe Income Egypt Tempo 

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Copyright information

© Springer-Verlag Berlin · Heidelberg 1992

Authors and Affiliations

  • Walter Eucken

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