The tradition of presidential addresses before this Association is a varied and extremely democratic one, offering no set pattern for the guidance of a president-elect. My immediate predecessor in the presidency, who has honoured me by agreeing to take the chair tonight, last year offered us his reflections on one of the fundamental concepts in his field of sociology, the myth. His predecessor applied the tools of his trade as a political theorist to a dissection of the political assumptions of contemporary economics—not entirely, it must be confessed, to the comfort and satisfaction of the economists present in the audience. Previous presidents have frequently employed the occasion to collect in one intellectual basket the fruits of a lifetime of serious scholarship in their own particular vineyard. For my own address tonight, I have chosen to speak on the contemporary position, prospects, and problems of the social sciences. This choice reflects in part a feeling that an address on the kind of professional subject to which I have been devoting my attention in recent years—a topic in the pure theory of international trade—would be of such limited general interest as to strain even the tolerance of this audience. My main reason, however, for choosing to talk about our profession, rather than to exemplify its work in one specific area of economics, is that I think that I can contribute most usefully to fulfilling the purposes of this Association by attempting to place the manifold problems with which its members are currently confronted in a broader historical perspective.