Robbins's definition of economics
Robbins's Definition.... After criticizing Marshall's definition in his book "An Essay on the Nature and significance of Economic Science" published in 1932 AD. Professor Robbins gave his own views about economics. According to him, "Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses. " This definition is called modern definition, scientific and logical definition. It's regarded as superior than other definitions. This definition was supported by various modern economists like Barbara Wotton, Paul Samuelson, J. M Keynes, Mahabub Ul Haq etc. Following are the major features of this definition:- 1. Unlimited ends: The word 'ends' of this definition refers human wants which are unlimited. We can't satisfy all the wants at a time. When we satisfy single want, other wants immediately crop up. In this way, human wants go on increasing endlessly. Not only human wants ...