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All labour is directed towards producing some effect.

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
Effect
Towards
Effects
Directed
Producing
Labour

More quotes by 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.
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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 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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Consumption may be regarded as negative production.
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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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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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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
Alfred Marshall
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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
Alfred Marshall
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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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Every short statement about economics is misleading (with the possible exception of my present one).
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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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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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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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Civilized countries generally adopt gold or silver or both as money.
Alfred Marshall
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Knowledge is our most powerful engine of production.
Alfred Marshall
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The most valuable of all capital is that invested in human beings
Alfred Marshall
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The love for money is only one among many.
Alfred Marshall
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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.
Alfred Marshall