But what, pray, has pure economics in common with psychology? The purists start from the hedonistic postulate, i.e. from the economic nature itself of man, and deduce from it the concepts of utility (economic utility which Pareto has proposed to call by a special name, ofelimita, from the Greek ώφἑλιμοϛ) of value, and directly, all the other special laws in accordance with which man behaves in so far as he is an abstract homo oeconomicus. They do exactly what the science of ethics does with the moral nature; and the science of logic with the logical nature; and so on. At this rate then would ethics be a psychology of ethics and logic a psychology of logic? And, since all that we know passes through the human mind, ontology would be a psychology of existence, mathematics a psychology of mathematics, and we should thus have confused the most diverse things, ending in a disorder the aim of which would be no longer comprehensible. Hence we conclude, that with care and the exercise of a little thought, it will necessarily be agreed that pure economics is not a psychology, but is the true and essential general science of economic facts.
Professor Labriola, too, shows a certain ill-humour which does not seem to me entirely justified, towards the pure economists, 'who', he says, 'translate into psychological conceptualism the influence of risk and other analogous considerations of ordinary commercial practice! And they do well—I answer—because the mind desires to give an account even of the influences of risk and of commercial practice, and to explain their mechanism and character. And then, psychological conceptualism; is not this an unfortunate connection between what your intellect shows you that pure economics really is (science which takes as its starting point an irreducible concept), and that hazardous definition of psychology which has been criticised above? Are not the noun and adjective in opposition to one another? And further, Labriola speaks contemptuously of the 'abstract atomism' of the hedonists, in which, 'one no longer knows what history is, and progress is reduced to mere appearance.'[37] Here too, it does not seem to me that his contempt is justified; for Labriola is well aware that in all abstract sciences, concrete and individual things disappear and that their elements alone remain as objects to be considered: hence this cannot be made a ground for special complaint against economic science. But history and progress, even if they are alien to the study of abstract economics, do not therefore cease to exist and to form the subject of other studies of the human mind; and this is what matters.
For my part I hold firmly to the economic notion of the hedonistic guide, to utility-ophelimity, to final utility, and even to the explanation (economic) of interest on capital as arising from the different degrees of utility possessed by present and future goods. But this does not satisfy the desire for a sociological, so to speak, elucidation of interest on capital; and this elucidation, with others of the same kind, can only be obtained from the comparative considerations put before us by Marx.[38]
III
CONCERNING THE LIMITATION OF THE MATERIALISTIC THEORY OF HISTORY
Historical materialism a canon of historical interpretation: Canon does not imply anticipation of results: Question as to how Marx and Engels understood it: Difficulty of ascertaining correctly and method of doing so: How Marxians understand it: Their metaphysical tendency: Instances of confusion of concepts in their writings: Historical materialism has not a special philosophy immanent within it.
Historical materialism if it is to express something critically acceptable, can, as I have had occasion to state elsewhere,[39] be neither a new a priori notion of the philosophy of history, nor a new method of historical thought; it must be simply a canon of historical interpretation. This canon recommends that attention be directed to the so-called economic basis of society, in order that the forms and mutations of the latter may be better understood.
The concept canon ought not to raise difficulty, especially when it is remembered that it implies no anticipation of results, but only an aid in seeking for them; and is entirely of empirical origin. When the critic of the text of Dante's Comedia uses Witte's well-known canon, which runs: 'the difficult reading is to be preferred to the easy one,' he is quite aware that he possesses a mere instrument, which may be useful to him in many cases, useless in others, and whose correct and advantageous employment depends entirely on his caution. In like manner and with like meaning it must be said that historical materialism is a mere canon; although it be in truth a canon most rich in suggestion.
But was it in this way that Marx and Engels understood it? and is it in this way that Marx's followers usually understand it?