Home › CMA Foundation › businesseconomics › Wealth Definition › Critics of the wealth definition of economics in…
Critics of the wealth definition of economics include:
ACarlyle, Ruskin, Walras, Dickens
BMarshall, Robbins, Samuelson, Keynes
CPigou, Edgeworth, Walras, Marshall
DFriedman, Hayek, Mises, Schumpeter
Answer & Solution
Correct answer: A. Carlyle, Ruskin, Walras, Dickens
1. Per OCR: "This definition was criticized by so many philosophers. They are Carlyle, Ruskin, Walras, and Dickens and others."
2. They called economics "decimal/dismal science, Gospel of Mammon".
3. Argued wealth is useless unless it satisfies human wants.
_Source: ICMAI BoS CMA Foundation Paper 4 (FBEM) — Paper4_07042026.pdf, Module 1 §1.1.1 (page 13)_