Leonel Robbins

Robbins Definition Of Economics – Scarce Means Definition

Introduction Of Robbins

Prof Lionel Robbins

Robbins definition of Economics challenged Dr. Marshall’s definition of Economics which was a major improvement over the definition of Adam Smith and other ancient Economists. Before Prof. Lionel Robbins, Prof. Marshall tried to give a complete and faultless definition of economics. At that time people started thinking that the Economic Science has completely developed and matured. But in 1932, after the publication of Prof. Robbins’s book An Essay on the Nature and Significance of Social Science, a controversy roused in the field of Economics. He tried to give economics another shape, apart from material welfare. In the words of Robbins

Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.

Read More »Robbins Definition Of Economics – Scarce Means Definition

Marshall Definition Criticism – Robbins Analysis

Criticism Of Marshall Definition

Dr. Marshall definition of Economics is a major improvement over the definition of Adam Smith and other ancient Economists. This definition was recognized between 1890 to 1932 and it seemed that the controversy relating to the definition of Economics had ended. But, a renowned Professor of ‘London School of Economics’, Prof. Leonel Robbins in his book ‘An Essay of the Nature and Significance of Social Science’ in 1932 criticized Marshall’s definition in loud words, which are as follows –Read More »Marshall Definition Criticism – Robbins Analysis