Remarks on the Relationship Between Economics and Psychology

  • Lionel Robbins


1. The relationship between Economics and Psychology is not a matter which has ever given rise to much dispute among economists. Indeed, it is not a matter to which economists in general have devoted very much attention. The literature of the subject, such as it is, is largely the work of men who have been ignorant of Economics but anxious, for various reasons, to discredit its conclusions. If one wishes to discover what the great economists have thought on this matter, one must look to their practice and their occasional obiter dicta, rather than to any systematic work on the subject.


Income Librium Clarification Omic Plague 


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  1. 1.
    Victor Edelberg, “The Ricardian theory of profits,” Economica, vol. 13 (February 1933), pp. 51–74.CrossRefGoogle Scholar
  2. 2.
    Frank H. Knight, “A suggestion for simplifying the statement of the general theory of price,” Journal of Political Economy, vol. 36 (June 1928), pp. 353–70.CrossRefGoogle Scholar
  3. 1.
    For the most systematic exposition from this point of view, see the important paper by J.R. Hicks and R.G.D. Allen, “A reconsideration of the theory of value,” Economica, n.s., vol. 1 (February and May 1934), pp. 52–76 and 196–219.CrossRefGoogle Scholar
  4. 1.
    For an exact exposition of this procedure see J.R. Hicks, “Gleichgewicht und Konjunktur,” Zeitschrift für Nationalökonomie, vol. 4 (1933), pp. 441–56.CrossRefGoogle Scholar

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© Palgrave Macmillan, a division of Macmillan Publishers Limited 1997

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  • Lionel Robbins

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