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

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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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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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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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Consumption may be regarded as negative production.
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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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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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Civilized countries generally adopt gold or silver or both as money.
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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 commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
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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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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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Knowledge is our most powerful engine of production.
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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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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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The love for money is only one among many.
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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.
Alfred Marshall