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Consumption may be regarded as negative production.

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
May
Regarded
Consumption
Production
Productions
Negative

More quotes by Alfred Marshall

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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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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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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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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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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
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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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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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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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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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Capital is that part of wealth which is devoted to obtaining further wealth.
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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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Every short statement about economics is misleading (with the possible exception of my present one).
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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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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 valuable of all capital is that invested in human beings
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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.
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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Knowledge is our most powerful engine of production.
Alfred Marshall
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Political Economy or Economics is a study of mankind in the ordinary business of life.
Alfred Marshall
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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.
Alfred Marshall