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Capital is that part of wealth which is devoted to obtaining further wealth.

Alfred Marshall

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Alfred Marshall
Age: 82 †
Born: 1842
Born: January 1
Died: 1924
Died: January 1
Economist
Philosopher
University Teacher
Bermondsey
Surrey
Capital
Economics
Wealth
Philosophy
Political
Part
Obtaining
Finance
Devoted

More quotes by Alfred Marshall

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Knowledge is our most powerful engine of production.
Alfred Marshall
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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.
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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.
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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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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.
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Political Economy or Economics is a study of mankind in the ordinary business of life.
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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
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Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall
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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
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Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
Alfred Marshall
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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
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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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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.
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The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
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The most valuable of all capital is that invested in human beings
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All labour is directed towards producing some effect.
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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
Alfred Marshall
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Civilized countries generally adopt gold or silver or both as money.
Alfred Marshall
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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
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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
Alfred Marshall