#6 Everyone with a business interest is a student of social science, said Spencer

One more science have we to note as bearing directly on industrial success—the Science of Society. Men who daily look at the state of the money-market; glance over prices current; discuss the probable crops of corn, cotton, sugar, wool, silk; weigh the chances of war; and from these data decide on their mercantile operations; are students of social science: empirical and blundering students it may be; but still, students who gain the prizes or are plucked of their profits, according as they do or do not reach the right conclusion. Not only the manufacturer and the merchant must guide their transactions by calculations of supply and demand, based on numerous facts, and tacitly recognizing sundry general principles of social action; but even the retailer must do the like: his prosperity very greatly depending upon the correctness of his judgments respecting the future wholesale prices and the future rates of consumption. Manifestly, whoever takes part in the entangled commercial activities of a community, is vitally interested in understanding the laws according to which those activities vary.

Thus, to all such as are occupied in the production, exchange, or distribution of commodities, acquaintance with Science in some of its departments, is of fundamental importance. Each man who is immediately or remotely implicated in any form of industry (and few are not) has in some way to deal with the mathematical, physical, and chemical properties of things; perhaps, also, has a direct interest in biology; and certainly has in sociology. Whether he does or does not succeed well in that indirect self-preservation which we call getting a good livelihood, depends in a great degree on his knowledge of one or more of these sciences: not, it may be, a rational knowledge; but still a knowledge, though empirical. For what we call learning a business, really implies learning the science involved in it; though not perhaps under the name of science. And hence a grounding in science is of great importance, both because it prepares for all this, and because rational knowledge has an immense superiority over empirical knowledge. Moreover, not only is scientific culture requisite for each, that he may understand the how and the why of the things and processes with which he is concerned as maker or distributor; but it is often of much moment that he should understand the how and the why of various other things and processes. In this age of joint-stock undertakings, nearly every man above the labourer is interested as capitalist in some other occupation than his own; and, as thus interested, his profit or loss often depends on his knowledge of the sciences bearing on this other occupation.

Herbert Spencer, Essays on Education and Kindred Subjects, Dent 1861.