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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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
Word
Common
Interpreted
Use
Shades
Many
Context
Needs
Shade
Every
Therefore
Meaning
Almost
More quotes by Alfred Marshall
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
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
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
Capital is that part of wealth which is devoted to obtaining further wealth.
Alfred Marshall
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
Political Economy or Economics is a study of mankind in the ordinary business of life.
Alfred Marshall
Civilized countries generally adopt gold or silver or both as money.
Alfred Marshall
Consumption may be regarded as negative production.
Alfred Marshall
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
Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
Alfred Marshall
The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
Alfred Marshall
All labour is directed towards producing some effect.
Alfred Marshall
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
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
Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall
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.
Alfred Marshall
The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
Alfred Marshall
The love for money is only one among many.
Alfred Marshall
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
Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
Alfred Marshall
