Answer the following question: Given the following passage  "In the late 19th and early 20th century several forms of pragmatic philosophy arose. The ideas of pragmatism, in its various forms, developed mainly from discussions between Charles Sanders Peirce and William James when both men were at Harvard in the 1870s. James popularized the term "pragmatism", giving Peirce full credit for its patrimony, but Peirce later demurred from the tangents that the movement was taking, and redubbed what he regarded as the original idea with the name of "pragmaticism". Along with its pragmatic theory of truth, this perspective integrates the basic insights of empirical (experience-based) and rational (concept-based) thinking.",  answer the following question. Note that the answer is present within the text.  Question: What way of thought combines real life and the abstract?
Answer:
pragmatism