Question

Briefly explain the contribution of Prof. L. Robbins to Economics.

Answer 1

Lionel Robbins contributed to economics by his book ‘An essay on the nature and significance of economic science’ written in the year 1932. He gave a famous definition of economics: ‘Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.’ He had also written a lot of essays and articles stating his views about economic science. He was also honored with a lot of awards by various universities.