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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
Part
Obtaining
Finance
Devoted
Capital
Economics
Wealth
Philosophy
Political

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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.
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Consumption may be regarded as negative production.
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The price of every thing rises and falls from time to time and place to place and with every such change the purchasing power of money changes so far as that thing goes.
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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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All labour is directed towards producing some effect.
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Political Economy or Economics is a study of mankind in the ordinary business of life.
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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.
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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.
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The love for money is only one among many.
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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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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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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.
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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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Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
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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.
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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
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Civilized countries generally adopt gold or silver or both as money.
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Every short statement about economics is misleading (with the possible exception of my present one).
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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.
Alfred Marshall