Book: "The Nature and significance of Economic Science"
Author: Lionel Robbins
Explanation:
- The book "The Nature and significance of Economic Science" is written by Lionel Robbins.
- Lionel Robbins was a renowned British economist and professor at the London School of Economics.
- In this book, Robbins discusses the fundamental principles and nature of economics as a science.
- The book explores the role of economics in understanding human behavior, resource allocation, and the functioning of markets.
- Robbins emphasizes the importance of economic analysis in making rational decisions and understanding the complexities of economic systems.
- The book is considered a classic work in the field of economics and has been influential in shaping economic thought.
- It provides a comprehensive overview of economic science and its significance in the modern world.
Conclusion:
The book "The Nature and significance of Economic Science" is written by Lionel Robbins, a prominent economist known for his contributions to the field of economics.

Nature and Significance of Economic Science (1932) as an economics is a social science and must advance its propositions by means of deductive reasoning and not through the methods used in the natural sciences.

The Nature and Significance of Economic Science
This book, written by Lionel Robbins in 1932, is a foundational text in the field of economics. It elaborates on the nature of economic science and its significance in understanding human behavior concerning scarce resources.
Key Contributions of Lionel Robbins:
- Definition of Economics: Robbins defines economics as the science that studies human behavior as a relationship between ends and scarce means that have alternative uses. This definition emphasizes the fundamental problem of scarcity and choice, which is central to economic theory.
- Methodological Approach: The book discusses the methodological aspects of economics, arguing for a more scientific approach to economic study. Robbins seeks to demarcate economics from other social sciences by emphasizing its distinct focus on decision-making under scarcity.
- Value-Free Economics: Robbins advocates for a value-free approach to economics, suggesting that economists should analyze behaviors without making moral judgments. This perspective has influenced the development of economic theory, promoting objectivity in economic analysis.
Impact on Economic Thought:
- Influence on Future Economists: The ideas presented in Robbins's book have shaped the way economic science is perceived and taught. His definition of economics has been widely accepted and remains relevant today.
- Foundation for Welfare Economics: Robbins’s work laid the groundwork for later developments in welfare economics, emphasizing the importance of resource allocation and efficiency in economic systems.
In summary, "The Nature and Significance of Economic Science" is a significant work that contributes to the fundamental understanding of economics as a discipline, making Lionel Robbins the correct author of the book.