Criticism of Marshall's statement:There is no doubt that Marshall’s statement is a great enhancement over the statement of Adam Smith. For its emphasis is on social troubles. And economics is a social science. Furthermore, it tells us about the link among wealth and welfare. However the main idea of Marshall that economics is a science which deals with material welfare has been strongly criticized. Lionel Robbins is an enormous critic of this statement. He says that Marshall’s statement mis-represents the science of economics.At first, when we go by the definition of Marshall, in economics we must consider only those activities that promote material welfare. However many activities do not promote welfare although are rightly considered as economic activity. For illustration, we know that alcoholic drinks and cigarettes are bad for our health. But such commodities are generated and sold. There is a market for them. And there are sellers and buyers. Hence the production and distribution of such goods is economic activity. Let us take another illustration. War does not encourage material welfare. However we have “economics of war”. And it is a significant branch of economics. There are many economic troubles with regard to war. At times, the economic causes of war are more significant than the political and social causes. Therefore it is not right to say that economics studies material well-being.Secondly, some activities promote well-being however not material welfare. For illustration, the activities of lawyers, doctors, actors, musicians promote our welfare. However their labor does not consequence in the production of material goods. When we follow the material welfare statement of economics, we can’t consider the activities of the above categories of labor as economic activity as they do not promote material welfare. However we make utilization of their services. We pay a price, at times very high price, for their services. Their services contain economic value. It is misleading to elucidate economics as the study of the causes of material welfare. In the words of Lionel Robbins, “whatever economics is regarded with, it is not concerned with the cause of material welfare as such”.Third, Marshall’s definition is classificatory and is not analytical. It considers the production of material goods (example, tables, chairs, cycles and cars,) alone as economic activity. Since the services of a teacher or a judge do not generate material goods, they are not considered as economic activity. This is a mistaken view. As Lionel Robbins says, “we do not say the manufacture of potatoes is economic activity and the production of philosophy is not”.Lastly, by introducing ethical concepts such as welfare, economics will become an inexact science. For it is instead difficult to measure welfare. And some economic policies that promote the welfare of some people might affect the welfare of others.Despite of the above criticism against Marshall’s definition, we must not forget that Marshall has broadened the scope of economics by establishing a link among wealth and man and his welfare.Modern definitions of economics depend on the theory of scarcity and choice.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Nature and Scope of Economics help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Nature and Scope of Economics, project ideas and tutorials. We provide email based Nature and Scope of Economics help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Nature and Scope of Economics. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of the Economics assignments, which may help you to solve your complex issues of Nature and Scope of Economics. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com diseases caused by mycoplasmas assignment help-homework help by online mycoplasma tutors
tutorsglobe.com gonads assignment help-homework help by online co-ordination systems tutors
tutorsglobe.com american politics assignment help-homework help by online history tutors
The Mammalian kidney tutorial all along with the key concepts of Structure of the Mammalian kidney, Functions of the Kidney and Diseases of the Kidney
the cells that are created by apical meristem are distinguished into dissimilar types of permanent tissues.
Theory and lecture notes of Hypothesis test all along with the key concepts of Hypothesis test, homework help, assignment help and hypothesis testing tutors. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Hypothesis test.
concept of base number conversion- assignment help and homework help along with the key concepts of big mod, big integer, carmichael number, catalan formula, counting combinations, exponentiation, factorial, fibonacci, greatest common divisor and lowest common multiple.
tutorsglobe.com types of ionic crystals assignment help-homework help by online types of crystals tutors
Theory and lecture notes of Probability all along with the key concepts of Probability, Sample Spaces, Classical Probability, Empirical Probability, Probability Rules, Probability Experiment and Mutually Exclusive Events. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Probability.
nomenclature of organic compounds tutorial all along with the key concepts of covalent bond, bond dissociation energy, structural formulas
tutorsglobe.com poverty and environmental issues assignment help-homework help by online poverty and environment tutors
Theory and lecture notes of Parallel Resonant Circuits all along with the key concepts of Ideal Inductor, Capacitor in Parallel, Resistor, Application of Parallel Resonant Circuits. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Parallel Resonant Circuits.
Physical systems executing SHM tutorial all along with the key concepts of Simple Pendulum, Compound Pendulum, Torsional Systems, L-C Circuit, Diatomic Molecule-Two-Body Oscillations
Theory and lecture notes of IS-LM Framework all along with the key concepts of the is-lm framework, IS-LM diagram, money stock, intersection of the IS and LM curves. Tutorsglobe offers homework help, assignment help and tutor’s assistance on IS-LM Framework.
www.tutorsglobe.com offers online environmental engineering assignment help, environmental engineering homework help, course help, online tutoring and projects assistance by environmental engineering tutors.
1931747
Questions Asked
3689
Tutors
1448872
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!