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this is the old term for a general approach to the social sciences. It includes what we now describe as economic, history, social psychology, education, political science, as it applies to the social construction of everyday life.
3.2 ‘Marginal Utility’ and neo-classical Economics
Published: Merlin Press;
DESPITE Adam Smith’s reassuring words on the benevolent control of the capitalist order by the ‘hidden hand’, the latter failed to live up to expectations. Instead, crises of growing severity became an undeniable feature of Smith’s ‘natural system of perfect liberty and justice’, compelling its defenders to offer some sort of explanation implying also a remedy.