“[In 1932, Lionel Robbins declared economics ‘the science of choice’ (Robbins 1932). In the same year, when students at the University of Chicago opened their social sciences course reader, they read Knight’s response:] Such definitions come too near to saying that economics is the science of things generally, of everything that men are for practical reasons interested in. Such a definition is useless and misleading”

—  Frank Knight

Source: The Economic Organization, 1951, p. 4 as cited in: Ross B. Emmett (ed). The Elgar Companion to The Chicago School of Economics http://books.google.com/books?id=MaCciKWcDIAC&pg=PA54, 2008. p. 53

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Frank Knight13
American economist 1885–1972

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