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Adam Smith defined it as the “nature and causes of wealth of nations,” whereby it “proposes to enrich both the people and the sovereign.” Among his followers, J. Say in France defined economics as “the study of the laws which govern wealth;” to Nassau Senior at Oxford, “the subject treated by political economists…is not happiness, but wealth;” whereas to F. Walker in America, “Economics is that body of knowledge which relates to wealth.” According to J. Mill, “Writers on Political Economy profess to teach the nature of wealth and the laws which govern its production, distribution and exchange.” To J. Cairnes, “Political Economy is a science…it deals with the phenomena of wealth.” While B.

Price declared in 1878 that “all are agreed that it is concerned with wealth.”The classical view was misleading and had serious defects.

crystalise, crystalize, crystallise, shed light on, sort out, crystallize, elucidate, illuminate, enlighten, straighten out, clear up, clear - make free from confusion or ambiguity; make clear; "Could you clarify these remarks?

"; "Clear up the question of who is at fault"elaborate, expatiate, expound, lucubrate, dilate, flesh out, exposit, enlarge, expand - add details, as to an account or idea; clarify the meaning of and discourse in a learned way, usually in writing; "She elaborated on the main ideas in her dissertation"At the back of the estrade, and attached to a moveable partition dividing this schoolroom from another beyond, was a large tableau of wood painted black and varnished; a thick crayon of white chalk lay on my desk for the convenience of any grammatical or verbal obscurity which might occur in my lessons by writing it upon the tableau; a wet sponge appeared beside the chalk, to enable me to efface the marks when they had served the purpose intended.

The classical economists beginning with Adam Smith defined economics as the science of wealth.

Click on the thesaurus category heading under the button in an entry to see the synonyms and related words for that Blog A must for anyone with an interest in the changing face of language.

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co.

This led economics to be branded as the science of Mammonism, of bread and butter, a dismal science, the science of getting rich.

Bailey called it “a mean, degrading, sordid inquiry.” To Carlyle it was a “pig-science.” Ruskin lamented in the Preface to his Unto the Last that economists were in ”an entirely damned state of soul.” Even economists like Jevons and Edge-worth were despaired of this wealth-oriented conception of economics.




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