They differ, however, in the relative importance that
they attach to different aspects of their work ; and
in their formal statements about method these differ-
ences become exaggerated.
The question of the right method of economic
enquiry was not as such discussed by Adam Smith ;
and his views on the subject have, therefore, to be
gathered from his way of dealing with actual economic
problems. As a matter of fact, the support of his
authority has been claimed on behalf of both the schools
above referred to. It has been said of him that he first
raised political economy to the dignity of a deductive
science. But he has also been regarded as the founder
of the historical method in political economy.
