Nature, Scope and Method of Economics

Ramesh Chandra

Chapter 3 in Allyn Abbott Young, 2020, pp 69-94 from Palgrave Macmillan

Abstract: Abstract This chapter focuses on the nature, scope and method of economics. Young regarded economics as the study of wealth-generating and wealth-using activities of man but only in relation to solving communal problems. For him economics was useful if studied in relation to other social sciences and was at least as much an art as a science. He discounted the notion of rational economic man and stated that English political economists always took their data from real life. They appeared abstract on the surface but largely dealt with practical national concerns. Young welcomed the use of mathematics and statistics in economics but cautioned that each new finding had to be woven into the existing system of knowledge.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-3-030-31981-6_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030319816

DOI: 10.1007/978-3-030-31981-6_3

Access Statistics for this chapter

More chapters in Great Thinkers in Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().