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<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; line-height: 105%;">Dr.J.M Keynes was not far wrong when he said that "Political
Economy is said to have strangled itself with meaning." There are, economists like
Richard jones and Comte who would do away with the definition altogether. Economist
like Pareto, Myrdal and Hutchinson think that any search for a precise
definition of Economics is a barren enterprise. Pareto thinks it "a waste of
time to investigate what it (i.e , economic phenomenon)may be."<span style="mso-spacerun: yes;">    </span></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; line-height: 105%;"><span style="mso-spacerun: yes;">  </span>According to
mydral, "Economics is the only term regarding the precise definition of which
which the economist need not be concerned"</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; line-height: 105%;"><span style="mso-spacerun: yes;"> </span>According to Adam
Smith, Economics was concerned with "An enquiry into the nature and Cluses of
wealth of Nation" The early economists called Economics, the science of wealth.
J.E. cairns in his book, "The Character and Logical Method of Political Economy
‘clearly said that Economics, "deals with the phenomenon of wealth"</span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; line-height: 105%;">According to the French economist J.B. Says, "Economics is the Science which treats of wealth." The American economist F.A.
Walker says that Economics is that body of knowledge which relates to
wealth<span style="mso-spacerun: yes;"></span>. <span style="mso-spacerun: yes;"> </span></span></div>
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<span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; line-height: 105%; mso-ansi-language: EN-US; mso-bidi-language: EN-US; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Thus in these
definitions ,a key position was assigned to wealth in the study of Economics.</span></div>

Economics Definitions

Dr.J.M Keynes was not far wrong when he said that "Political Economy is said to have strangled itself with meaning." There are...