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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
Regarded
Consumption
Production
Productions
Negative
May

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The most valuable of all capital is that invested in human beings
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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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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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Political Economy or Economics is a study of mankind in the ordinary business of life.
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Capital is that part of wealth which is devoted to obtaining further wealth.
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Every short statement about economics is misleading (with the possible exception of my present one).
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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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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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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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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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The love for money is only one among many.
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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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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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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 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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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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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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All labour is directed towards producing some effect.
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