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Knowledge is our most powerful engine of 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
Engine
Engines
Production
Productions
Powerful
Knowledge

More quotes by Alfred Marshall

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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.
Alfred Marshall
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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
Alfred Marshall
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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.
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.
Alfred Marshall
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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.
Alfred Marshall
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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.
Alfred Marshall
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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.
Alfred Marshall
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Capital is that part of wealth which is devoted to obtaining further wealth.
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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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
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Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall
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All labour is directed towards producing some effect.
Alfred Marshall
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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.
Alfred Marshall
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The love for money is only one among many.
Alfred Marshall
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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.
Alfred Marshall
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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.
Alfred Marshall
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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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Civilized countries generally adopt gold or silver or both as money.
Alfred Marshall
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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.
Alfred Marshall
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Consumption may be regarded as negative production.
Alfred Marshall