Quote

We might as well reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.

Alfred Marshall

Change background

T
T
T

Change font

TAGS & TOPICS

Alfred Marshall
Age: 82 †
Born: 1842
Born: January 1
Died: 1924
Died: January 1
Economist
Philosopher
University Teacher
Bermondsey
Surrey
Values
Pairs
Blade
Whether
Economics
Upper
Wells
Piece
Blades
Might
Demand
Governed
Well
Paper
Disputes
Cutting
Cuts
Scissors
Value
Pair
Dispute
Pieces
Supply
Reasonably

More quotes by Alfred Marshall

Image
Civilized countries generally adopt gold or silver or both as money.
Alfred Marshall
Image
The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
Alfred Marshall
Image
Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
Alfred Marshall
Image
All wealth consists of desirable things that is, things which satisfy human wants directly or indirectly: but not all desirable things are reckoned as wealth.
Alfred Marshall
Image
Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
Alfred Marshall
Image
The hope that poverty and ignorance may gradually be extinguished derives indeed much support from the steady progress of the working classes during the 19th century.
Alfred Marshall
Image
Capital is that part of wealth which is devoted to obtaining further wealth.
Alfred Marshall
Image
Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall
Image
It is common to distinguish necessaries, comforts, and luxuries the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character.
Alfred Marshall
Image
Individual and national rights to wealth rest on the basis of civil and international law, or at least of custom that has the force of law.
Alfred Marshall
Image
In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.
Alfred Marshall
Image
In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
Alfred Marshall
Image
Nature's action is complex: and nothing is gained in the long run by pretending that it is simple, and trying to describe it in a series of elementary propositions.
Alfred Marshall
Image
Material goods consist of useful material things, and of all rights to hold, or use, or derive benefits from material things, or to receive them at a future time.
Alfred Marshall
Image
Though a simple book can be written on selected topics, the central doctrines of economics are not simple and cannot be made so.
Alfred Marshall
Image
The most valuable of all capital is that invested in human beings
Alfred Marshall
Image
But if inventions have increased man's power over nature very much, then the real value of money is better measured for some purposes in labour than in commodities.
Alfred Marshall
Image
Political Economy or Economics is a study of mankind in the ordinary business of life.
Alfred Marshall
Image
In every age poets and social reformers have tried to stimulate the people of their own time to a nobler life by enchanting stories of the virtues of the heroes of old.
Alfred Marshall
Image
And very often the influence exerted on a person's character by the amount of his income is hardly less, if it is less, than that exerted by the way in which it is earned.
Alfred Marshall