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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.

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
Much
Century
Gradually
Philosophy
Classes
Support
Steady
Class
Economics
Working
Indeed
Hope
Ignorance
Political
Poverty
Derives
May
Progress
Extinguished

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The most valuable of all capital is that invested in human beings
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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 commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
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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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The love for money is only one among many.
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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.
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All labour is directed towards producing some effect.
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Every short statement about economics is misleading (with the possible exception of my present one).
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Capital is that part of wealth which is devoted to obtaining further wealth.
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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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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 most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
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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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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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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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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.
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