Marshal's definItion of economics and criticism on his definItion?

Answer 1

Lionel Robbins led on frontal attack on the Marshallian view in the study of economics. The main points of criticism are:

1. Welfare is not measurable. It varies from individual to individual, person to person and age to age. A thing may give pleasure to a person but it may be harmful for the others. There is not any instrument for its measurement. Robbins criticizes the idea of welfare. It is difficult to decide what welfare is and what not welfare is. There are many activities which do not promote the human welfare but they are regarded economic activities e.g. the manufacturing and sale of alcohol etc.

2. Marshall's definition has limited the scope of economics. As according to Marshall economics is concerned only with material welfare. According to him all those activities which do not promote the material welfare are totally ignored. As they are immaterial. Robbins does not think it right for the economists to confine their attention to the study of material welfare, because in the actual study of economic principles, both the material and immaterial are taken into account. Robbins rejected Marshall's definition as being classificatory because it makes a distinction between material welfare and non-material welfare and says that economics is concerned only with material welfare.

3. As Marshal said Economics is a study of mankind in the ordinary business of life. It is difficult to know, what is the difference between ordinary course of business and extra ordinary course of business?

Answer 2

marshal defined economics as 'study of mankind in the ordinary business of life '

his definition is called as welfare definition.

he classified all activities into different categories like economic,social, religious etc...he included material matters as factors of economic development . he give priority to men & eco - social science

his definition was criticised because of 2 reason

1)he took only material factors as factor of economic development ie; the services were not taken into consideration

2)he classified activities into different categories

Answer 3

lionel robbin was the only critic of dr.alfred marshall's defination lionel robbin was the only critic of dr.alfred marshall's defination