Central Problem of Economics: Economics Redifined

Economics has traditionally been concerned with the “Wealth of Nations”. Till the emergence in the nineteen thirties of Lionel Robins of the Economic Scene. Following Robins, Economics has been accepted as a study of matching scarce resources amongst alternative uses. Several modifications have been attempted but the character of scarcity dominating economic through continues unabated. This book inpunges the scarcity element of economics as the dominant theme and puts forth the cast of economics being a study of the problem of managing surplus. The central problem of Economics is seen as the problem of co-ordinationg men. Material and technology into the tool process.