Member-only story

Objectives and Means: Lionel Robbins Lectures

Eugene Scott

·12.8k Followers· Follow

Published in Economics After The Crisis: Objectives And Means (Lionel Robbins Lectures)

6 min read · 1 week before

560 View Claps

46 Respond

Save

Listen

Economics After the Crisis: Objectives and Means (Lionel Robbins Lectures)

by Adair Turner

4 out of 5

Language	:	English
File size	:	2106 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	123 pages

Objectives And Means: Lionel Robbins Lectures Book Cover Economics After The Crisis: Objectives And Means (Lionel Robbins Lectures)

A Guide to Economic Theory

In the realm of economics, understanding the relationship between objectives and means is paramount. 'Objectives and Means: Lionel Robbins Lectures' delves into this fundamental concept, offering a profound exploration of the principles that guide economic decision-making.

Authored by the renowned economist Lionel Robbins, this book presents a comprehensive analysis of the choices individuals and societies make in the face of scarcity. Through lucid explanations and thought-provoking examples, Robbins unravels the complexities of economic theory, providing a solid foundation for further study and practical application.

Key Features

* Explores the central themes of scarcity, opportunity cost, and marginalism * Examines the relationship between ends and means in economic decision-making * Provides a historical perspective on the evolution of economic thought * Offers practical insights into how economic principles can be applied to real-world situations * Suitable for students, scholars, and practitioners of economics

Unlocking Economic Insights

'Objectives and Means: Lionel Robbins Lectures' is a veritable treasure trove of economic knowledge, guiding readers through the intricate web of concepts that shape economic behavior. Robbins' clear and engaging writing style makes complex theories accessible, allowing readers to grasp the fundamentals of economics with ease.

Scarcity and Opportunity Cost

At the heart of economics lies the concept of scarcity, the fundamental truth that resources are limited in relation to human wants. 'Objectives and Means' explores the implications of scarcity, highlighting the trade-offs and opportunity costs that arise when we make economic choices.

Marginalism and the Law of Diminishing Returns

Robbins delves into the concept of marginalism, explaining how the additional benefit or cost of an action influences economic decisions. The law of diminishing returns is also examined, demonstrating the diminishing returns that result from adding more of one input to a production process.

Utility and Economic Decision-Making

'Objectives and Means' sheds light on the role of utility in economic decision-making. Utility measures the satisfaction or benefit individuals derive from consuming goods and services. Robbins explores how individuals maximize their utility within the constraints of scarcity and budget limitations.

Historical Context and Applications

Beyond theoretical foundations, 'Objectives and Means' provides a historical perspective on the development of economic thought. Robbins traces the evolution of economic ideas from classical economists to modern theorists, offering a deeper understanding of the intellectual roots of economics.

The book also explores the practical applications of economic principles. Robbins discusses how economic models can be used to analyze real-world issues such as inflation, unemployment, and government policy.

Essential Reading for Economists

'Objectives and Means: Lionel Robbins Lectures' is an indispensable resource for anyone seeking to delve into the depths of economic theory. Whether you are a student embarking on your economic journey, a scholar seeking to broaden your understanding, or a practitioner seeking to enhance your decision-making skills, this book will provide invaluable insights and guidance.

Reviews

"Robbins' lectures are a masterpiece of economic theory. They provide a lucid and comprehensive exposition of the fundamental principles of economics." - Professor John Hicks, Nobel Laureate in Economics

"This book is a must-read for anyone who wants to understand the foundations of economics. Robbins' insights are timeless and his analysis remains highly relevant to contemporary economic issues." - Professor Paul Krugman, Nobel Laureate in Economics

Free Download Your Copy Today

Embark on a journey of economic discovery with 'Objectives and Means: Lionel Robbins Lectures.' Free Download your copy today and unlock a wealth of knowledge that will empower you to navigate the complexities of economic decision-making with confidence and clarity.

Economics After the Crisis: Objectives and Means (Lionel Robbins Lectures)

by Adair Turner

4 out of 5