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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.

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
Leading
Producers
Species
Name
Genus
Land
Surplus
Names
Rent
Convenient
Producer

More quotes by 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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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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Knowledge is our most powerful engine of production.
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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 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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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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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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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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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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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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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All labour is directed towards producing some effect.
Alfred Marshall
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The love for money is only one among many.
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Consumption may be regarded as negative production.
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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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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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
Alfred Marshall
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Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall