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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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Alfred Marshall
Age: 82 †
Born: 1842
Born: January 1
Died: 1924
Died: January 1
Economist
Philosopher
University Teacher
Bermondsey
Surrey
Differences
Distinctions
Economic
Marked
Term
Chief
Kind
Chiefs
Distinction
Degree
Degrees
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Every short statement about economics is misleading (with the possible exception of my present one).
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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 love for money is only one among many.
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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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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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Consumption may be regarded as negative production.
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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 commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
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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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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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Knowledge is our most powerful engine of production.
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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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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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Civilized countries generally adopt gold or silver or both as money.
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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 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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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 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