Lionel Robbins

In 1923, Lion Robbins graduated with a B.Sc. in Economics from the London School of Economics (LSE). In 1925 he took up a position at the LSE and went on to hold the Chair in Political Economy at the LSE from 1929 to 1961. While in this position, Robbins authored one of his most influential articles, An Essay on the Nature and Significance of Economic Science, in which he set fourth his scarcity definition of economics. In 1959 he was appointed a life peer of the House of Lords. In 1961 he assumed the chairmanship of the Financial Times.