Question

In the study of Economics, British Economist Alfred Marshall stated, that this Social Science or discipline deals with the study of mankind in the ordinary business of life.

How is the concept of Phenomenology by Morrow, Rodriguez and King interplayed or integrated in the understanding of Alfred Marshall’s definition?

Answer 1

British Economist Alfred Marshal was considered as one among the eminent economist who mainly focused his research mainly on welfare of the society which supported the definition of economics by its own way. In his doctrine work, The tastes and preferences of every human beings occupies the center theme of Marshal's idea. According to Marshall, every part of individual choice should be attained with the available materialistic resources which should should be economically influenced by day to day activities of human and such economic influence urges to satisfy all the wants of human beings. Human beings are bonded by social, moral, ethical and religious values, Such values can be judged only by allocating the suitable resources for the welfare of the society as all human beings are regarded as the part of the society.

According to the concept of Phenomenology by Marrow, Rodrigquez and King are closely associated with the clear understanding of ideas framed by Alfred Marshall in his ideology of economics. According to theory of Alfred Marshall, it was greatly emphasized to study on the analyzing the worth of each units of available sources to fulfill the basic requirements to requirements according to the biological and social needs at every stages of the human life which are closely associated with the welfare of the society. Phenomenology methods are referred as step by step procedures to find the final solution. The step by step procedures includes preliminary study, collecting of data, matching the feasibility of the objective studies with the collected data, research studies, implementation of the ideas, allocating the sources and finally arriving the solution. Such procedures are linked with marshal thoughts in the way of searching the limited sources and making certain provisions to reach them to all the people in order to fulfill their needs. Searching the limited sources are nothing collecting the data or resources and making the research on resources how far it can be feasible to satisfy the needs of all the sections of the people in the society.