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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.

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
Value
Commodities
Men
Purpose
Inventions
Values
Increased
Money
Measured
Nature
Commodity
Power
Purposes
Better
Labour
Real
Invention

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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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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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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 love for money is only one among many.
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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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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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Political Economy or Economics is a study of mankind in the ordinary business of life.
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Civilized countries generally adopt gold or silver or both as money.
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Capital is that part of wealth which is devoted to obtaining further wealth.
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The most valuable of all capital is that invested in human beings
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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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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.
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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 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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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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