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Challenge to classical theory came not from ‘outside’, but from ‘within’â€”not from the Historical School nor from the Socialists, but from the Marginalists. The socialists, including Karl Marx, built on classical theor..
While our economists were developing a ‘method of analysis’ by reference back to the choice of individuals to exhibit the properties Tendencies in Economic Theory of Economy and Waste, the ‘subject matter’ of Economicsâ..
Indian economists, particularly of the older generation, have been somewhat allergic to theory. It is about half a century that Economics has been functioning as a separate subject in our universities the Economics Department of the University..
Economics is not one of those branches of study which can have any complaint these days on the ground of public apathy. Rather the contrary. Here as elsewhere the public are perhaps placing more weight upon our science than it ever was designe..
The atmosphere, if the picture drawn of it is true, is inimical to the growth of scientific attitude among economists. And yet it would be ungenerous to believe that there are not those among us who would be anxious to preserve the sanctity of..