Economics is science of wealth

In the seventeen and eighteen centuries when religion ethics had a strong hold on minds of men anything which was connected with wealth and riches was looked upon as sordid and mean.since economics was defined have ignored the higher values of life and are hankering after formulation of laws which seek "to enrich both the people and the sovereign." Economics,it was said has elev ed wealth into an 'object' of scientific study however,this is improper,unwarranted and rep rents a based attitude towards economics.classical economists like Adam smith,Ricardo and Malthus did not teach people to worship mammon or wealth, understood in the sense of goods or commodities,which is needed to provide physical subsistence to men and to raise their standards of living.How a nation wrests wealth from the niggardly nature,how this wealth is distributed and exchanged With in nation.studying the laws of production,exchange and contribution to the promotion of social welfare.Therefore,it is unjust to dub economics as dismal and mean science.
                                                                                        However,wealth definition of economics is not classical economics was concerned with material wealth because it was easier to measure it accurately.Adam smith drew distinction between productive labor  and un-productive labor.The labor was called "productive"and that which produced immaterial services such as the services of teachers,actors dancers,musicians,etc.were regarded by him as 'unproductive'.
                                                                                     
                                                                                             It is this view point,that is,the neglect of immaterial services as the subject of study in economics that has been rightly criticized by l.Robbins and others.Further keeping such immaterial things as health,education,good administration outside the definition of wealth and therefore beyond the bounds of economics science shows that the classical economists did not realize and recognize the importance of these things for economic growth of a nation,or to put in their own words,for the expansion of material wealth,several modern economists have emphasized the role of education,health and good administration and have shown that key greatly raise the productivity of man and promote economic growth of a nation.in view of their vital importance in raising production and productive,good wealth,eduction and skills have in  fact been called human capital promoting education,health,etc.has been called by modern economists as investment in human capital or investment in man.

Conclusion

By considering the problem of production,distribution and exchange of wealth,classical economists focused attention on the important issues with which economic is concerned.However,by restricting the definition of wealth and the neglect of immaterial services in their economics studies they narrowed down the scope of economics.Further,they also showed a biased attitude by regarding rights to private property or wealth as natural and moral and rights.