It’s all in Marshall: ‘Political Economy or Economics is a study of
mankind in the ordinary business of life; it examines that part of individual
and social action which is most closely connected with the
attainment and with the use of the material requisites of wellbeing’
(Marshall, 1890 : 1). Well-being is better than ill-being. Production,
consumption, distribution and exchange make us feel better
off in our own estimation. The clergyman saves souls. The doctor
saves bodies. The banker saves savings. The economist saves wellbeing.
We all do what we can.