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According to Robbins, economics is a positive science but in reality it is not positive science deals with material things, the results of which are certain but economics deals with human behavior which is uncertain. Only A Valuable Theory: Robbins has reduced economicsmerely to the valuation theory. According to 'Frazer' economics is more than a valuation theory. Robbins has widened the scope of economics extra ordinary. He has included number of matters in economics which are in fact not discussed in economics. According toRobbins, it covers the whole human life. For example, if you are to choose between the worship of God and that of Mammon (riches), it will be an economic problem while it is spiritual issue.
According to Robbins, economics has no normative aspect while it is incorrect.Normative science is that which deals with the matter of material well beings. It is also pointed out that Robbins definition ignores the macro aspect like determination of national income and employment. But in reality this is very important work of economists. It is also pointed out that Robbins definition has made economics colorless, abstract and difficult. It is in fact a definition of economics only for economists. A common man cannot get any utility fromit. Human Love Missing: Human love is entirely missing in Robbins definition of economics. He has not mentioned any thing about man's welfare.
According to Robbins, an economist is a neutral person. He has no concern whether the ends are good or bad. But in reality an economist cannot be neutral person. He must give views on the solution of actual economic problems. Some writers point out that it fails to explain the problem of unemployment which is a main economic problem present time.
According to Robbins, means are always scarce. But in some countries, one of the economic means, i.e., labour is not scarce. It meansRobbins definition is based on wrong assumption.
The theory of economic growth or economic development has become the important branch of economics. This definition ignores it. It means it should be discussed in economics that how does economy grow and which factors bring about increase in nation income and productive capacity of the economy....
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Why is Lionel robbins definition of economics generally accepted?
lionel robbins definition has generally been accepted because he included that it is a social science that studies "human behavior".
Lionel robbins definition of economics?
Economics is a social science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Explain Lionel robbins definition of economics?
explain the robins of econimic is the one kind of eco science
What are some salient features of economics according to Lionel Robbins?
There is an interesting article on Lionel Robbins in the Related Link below.
What is the definition of economics by Robbins?
Robbins define Economics as the science which study human behaviour in relation to ends and scares means which have alternative uses.
Why is Liond Robbins definition of Economics widely accepted?
why is professor[lord] Lionel C. Robbins definition of economics the most widely accepted
Why is Lionel robbins definition of economics generally accepted?
lionel robbins definition has generally been accepted because he included that it is a social science that studies "human behavior".
Lionel robbins definition of economics?
Economics is a social science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Explain Lionel robbins definition of economics?
explain the robins of econimic is the one kind of eco science
What are some salient features of economics according to Lionel Robbins?
There is an interesting article on Lionel Robbins in the Related Link below.
What is the definition of economics by Robbins?
Robbins define Economics as the science which study human behaviour in relation to ends and scares means which have alternative uses.
What is the object of the study of economics?
The object of economics, according to J.S. Mill, is that sphere of man's action that is involved in the pursuit of wealth. However, Lionel Robbins supplanted this definition of economic sciences by arguing that, "Economics is the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses"
How did Lionel c. Robbins defined the concept of economics?
Economics is a science which studies human behaviour as a relationship between ends(wants) and scarce means(resources) which have alternative uses.
What has the author Lionel Robbins Robbins written?
Lionel Robbins Robbins has written: 'The evolution of modern economic theory and other papers on the history of economic thought'
What are the best definition of economics?
The best definition is that by Lionel Robins, "Economics is the social sciences which studies human behavior as a relationship between ends and scare means which has alternative uses"
Why is economics sometimes called the science of choice?
its because of lionel robbins definition of economics its called a science of choice. understanding the fact-resources are scarce and demand for goods is unlimited. for resource allocation we need to choose, for the method of production we need to choose, for distribution of finished goods we need to choose, thus right from the start economics is a science that helps us to make the more practical choice.
Marshal's definItion of economics and criticism on his definItion?
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?
