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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
Consumption
Production
Productions
Negative
May
Regarded

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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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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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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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Civilized countries generally adopt gold or silver or both as money.
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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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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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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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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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The most valuable of all capital is that invested in human beings
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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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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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Capital is that part of wealth which is devoted to obtaining further wealth.
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All labour is directed towards producing some effect.
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Knowledge is our most powerful engine of production.
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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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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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 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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