The Kinetic Theory of Economic Crises 9 



Everywhere the conception of motion will be introduced, so that 

 the self-conscious center will be called upon to visualize, at the 

 same moment, successive positions in time and simultaneous posi- 

 tions of all the elements. 



It is well to note in passing that the new method seems to 

 favor the doctrine of individualism. Socialism (the older type, at 

 least) is an attitude of mind essentially static. While it does look 

 upon society primarily as a whole, it goes too far in treating it as 

 independent of individual action and not as in action itself, but as 

 capable of being moulded, like a sort of fund, into any conceiv- 

 able, definitive shape. While individualism may well investigate 

 society from the social point of view, it does so on the supposi- 

 tion that the general social situation is rather a mode of thought 

 than an objective fact and is at any rate the result of individual 

 efforts. Socialists have no need of kinetic thought since its adop- 

 tion would be a confession that society is objective, complex, and 

 not amenable to simple administrative regulations. 



The common sense deliverances of normal men, especially about 

 their own industries or businesses, are more kinetic than those 

 of the student or teacher. They are in fact a part of the very 

 process that is to be investigated. Common sense opinions as to 

 social prosperity, or even as to national or local policy, are often 

 more trustworthy than those of students and professors, for they 

 are but a part of the general life. The distinction between them 

 and the opinion of scholars is that they are less self-conscious. 

 The task of the student is to reduce this instinctive thought to 

 self-consciousness. He selects such sequences as may be clearly 

 separated. The result is an obvious gain in clearness, but a 

 relatively low reality. The situation thus devitalized is said to 

 be "logical." Logical conclusions are obtained at the expense 

 of comprehensiveness but to the advantage of clearness. They are 

 partial and dangerous except in the hands of experts. How 

 many a worthy teacher of political economy has allowed himself 

 to be side-tracked into dogmatism about free trade or hard money 

 because he had forgotten for the moment the artificial simplicity 

 of the premises and thus allowed his static logic to obtain the 

 mastery over his inexperienced motor nerves ! On his tombstone 



