Compare the definition given by Marshall and Robbins.
Compare the definition given by Marshall and Robbins.
Or
Discuss ‘Scarcity’ definition of Economics. Compare it with ‘Welfare’ definition.
Or
Critically elucidate the definitions of Economics given by Marshall and Robbins.
Ans.
Comparison between the Definition of Marshall (Welfare) and Robbins (Scarcity)
Similarities : Similarities between the definition of Marshall and Robbins are:
(1) Human Behaviour: Both the definitions are concerned with human behaviour.
(ii) Optimisation : Both the definitions concentrate on optimisation, i.e. the best possible situation within given constraints. In Marshall’s definition, the aim is to maximise material welfare and in Robbins definition, the aim is to maximise satisfaction.
(iii) Basic Pillars : Consumption, production and exchange are the basic pillars of both the definitions.
(iv) Same characteristics of wealth and scarce resources: According to Marshall, wealth is the basic source of maximisation of material welfare. Robbins is of the opinion that we maximise our satisfaction by scarce resources. Both the concepts of wealth and scarce resources are synonymous as both have the same characteristics of utility, transferability and scarcity.
(v) Analytical: Both the definitions are analytical in nature.
Dissimilarities: Following differences are observed between the two definitions :
(i) Material/Immaterial : Marshall believes in only material activities which promote material welfare, whereas Robbins believes in both material and immaterial activities to tackle the problem of choice.
(ii) Social Science/Natural Science : For Marshall, Economics is a social science, but Robbins considers it to be a natural science.
(iii) Normative/Positive Science : According to Marshall, Economics is basically a normative science. Robbins considers it to be a positive science.
(iv) Classification : Marshall has classified the goods into material/ non-material and individuals into social or isolated. Robbins does not believe in any such classification.
(v) Practical/theoretical: Marshall’s definition is practical whereas Robbins definition is theoretical.
(vi) Human Touch: Marshall concentrates on human material welfare. He gives due importance to man. Robbins only focuses on scarcity of resources. He gives no importance to man.
(vii) Welfare/Scarcity: Marshall’s definition is based on the concept of welfare and Robbins definition based on the concept of scarcity.
(viii) Vague/Clear : Marshall’s definition is based on the concept of welfare which is vague. Robbins definition is based on the clear concept of scarcity.
Conclusion: On the basis of the above mentioned facts, it can be concluded that Robbins definition is logically better.
