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The most valuable of all capital is that invested in human beings

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
Investment
Valuable
Beings
Money
Human
Invested
Humans
Capital
People
Investing
Economics

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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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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 reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
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Consumption may be regarded as negative production.
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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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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 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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The love for money is only one among many.
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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.
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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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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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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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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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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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Capital is that part of wealth which is devoted to obtaining further wealth.
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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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Knowledge is our most powerful engine of production.
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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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