<P> Jean - Baptiste Say ( 1803 ) , distinguishing the subject from its public - policy uses , defines it as the science of production , distribution , and consumption of wealth . On the satirical side , Thomas Carlyle ( 1849 ) coined `` the dismal science '' as an epithet for classical economics , in this context , commonly linked to the pessimistic analysis of Malthus ( 1798 ) . John Stuart Mill ( 1844 ) defines the subject in a social context as : </P>
<P> Jean - Baptiste Say ( 1803 ) , distinguishing the subject from its public - policy uses , defines it as the science of production , distribution , and consumption of wealth . On the satirical side , Thomas Carlyle ( 1849 ) coined `` the dismal science '' as an epithet for classical economics , in this context , commonly linked to the pessimistic analysis of Malthus ( 1798 ) . John Stuart Mill ( 1844 ) defines the subject in a social context as : </P>
who suggested that economics is a social science
who suggested that economics is a social science
John Stuart Mill
John Stuart Mill