This article discusses the change in the nature of economic studies. Is economics a science which permits reasonably reliable business forecasts, or is it an art which depends upon the skill and intuition of the economist? If it is a science, what kind of science is it? If we agree that economics should be a comprehensive social science with the sum of human behavior involved in economic activities as its scope of study, what scientific methods may fit it most effectively? These are vitally important questions, since economic planning rests to a large extent upon the ability of economists to predict future developments.