By Iraj Toutounchian
The classical economists did not treat society as a co-operative…
The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.
Economics is haunted by more fallacies than any other study known to man.
Society is a real compound like the natural compounds. But the synthesis here is of minds and thoughts and of wills and wishes. [The] new compound comes into existence and the elements continue their existence with a new identity, individuals also, who enter social life with their gifts acquired from nature and their inborn abilities, spiritually merge into one another to attain a new spiritual identity, which is termed the ‘social spirit’…in the synthesis of society and individuals, though an actual synthesis takes place—because, the constituents, the individuals, as a…
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