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loyo An American Dilemma
our parallel from modern economic theory: when the economists during the last two
decades abandoned the classical static equilibrium approach and went ahead to construct
a dynamic theory of causal interrelations in a process of change, what they actually did
was to apply the pragmatic notions of bankers, businessmen, and labor leaders and try
to systematize them. This revolutionized economic theory and had great importance for
the scientific planning of economic policy. A rational strategy in the Negro problem also
assumes a theory of dynamic causation.®
* Some remarks on this problem are made in Chapter 3, Section 7.
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