TY  - JOUR
AB  - The conventional wisdom in economics is that resources are limited,
wants are unlimited, and the business of the economist is to understand
how limited resources are allocated to satisfy unlimited wants.
Typically, poverty or unmet physical need is addressed apart from
consumer behaviour. It was not always so. Adam Smith, Alfred Marshall,
and Paul Samuelson as recently as 35 years ago, for example, were
explicit about the direct linkage between needs and wants. The changes
that have taken place over the years are attributable to a shift away
from an Aristotelian perspective on the nature of economic studies
towards the Enlightenment view. Challenges the conventional wisdom that
wants are virtually unlimited, resources are limited, and poverty is
best addressed apart from wants. Presents need fulfilment alongside want
satisfaction in the context of the principle of subsidiarity which helps
define the role of the state in provisioning unmet need.
VL  - 20
IS  - 12
SN  - 0306-8293
DO  - 10.1108/03068299310145595
UR  - https://doi.org/10.1108/03068299310145595
AU  - O'Boyle Edward J.
PY  - 1993
Y1  - 1993/01/01
TI  - On Need, Wants, Resources and Limits
T2  - International Journal of Social Economics
PB  - MCB UP Ltd
SP  - 13
EP  - 26
Y2  - 2024/09/19
ER  -