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Question
Who was the pioneer of welfare thought?
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Solution
The correct option is A Marshall
He argued that economics, on one side, is a
study of wealth and, on the other, is a study of man.This question is
based on Alfred Marshall’s definition of
economics as below: Marshall defines economics as “a study of men as they live and move and think in
the ordinary business of life.” He argued that economics, on one side, is a
study of wealth and, on the other, is a study of man. Welfare definition of
economics. The welfare definition of economics is an attempt by Alfred
Marshall, a pioneer neoclassical economist, to redefine his field of study.
Hence we can say that pioneer of welfare is Alfred Marshall.
He argued that economics, on one side, is a study of wealth and, on the other, is a study of man.This question is based on Alfred Marshall’s definition of economics as below: Marshall defines economics as “a study of men as they live and move and think in the ordinary business of life.” He argued that economics, on one side, is a study of wealth and, on the other, is a study of man. Welfare definition of economics. The welfare definition of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. Hence we can say that pioneer of welfare is Alfred Marshall.
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