For a theoretical inquiry into the course of civilized life as it runs in the immediate present, therefore, aud as it is running into the proximate future, no single factor in the cultural situation has an importance equal to that of the business man and his work. This of course applies with peculiar force to an inquiry into the economic life of a modem community. In so far as the theorist aims to explain the specifically modern economic phenomena, his line of approach must be from the businessman's standpoint, since it is from that standpoint.
