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Lord Lionel Robbins was born in 1898, and was one of the many great economists of our time. Robbins was known for his contributions to economic policy, methodology, and the history of ideas, but made his name as a theorist. Robbins was made famous for his definition of economics, "Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses." (The Concise Encyclopedia of Economics 2007) Robbins was able to change the Anglo-Saxon thought economics off its Marshallian process and onto the Continental train of thought.
In the twenties, he fought the idea of Alfred Marshall's concept of the "representative firm." He argued that the concept did not help one understand the equilibrium of the firm or of an industry. He also did some of the earliest work on labor supply, showing that an increase in the wage rate had an ambiguous effect on the amount of labor supplied. (The Concise Encyclopedia of Economics 2007) He was a......

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