- Demerits
- (a) Critics of scarcity definition also hold the view that since it is possible to use knowledge of economics in an attempt to curing the ills of the economy, there is no justification in adopting an attitude of indifference towards the problems of unemployment, poverty, inflation, regional disparities, and low rate of economic growth. A better course would be to use our knowledge of economics in devising policies for achieving maximum possible economic welfare with minimum possible resource cost and human labour.
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Economics L. Robbins (Demerits-1)
In this article we will discuss Economics L. Robbins (Demerits-1)