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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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Alfred Marshall
Age: 82 †
Born: 1842
Born: January 1
Died: 1924
Died: January 1
Economist
Philosopher
University Teacher
Bermondsey
Surrey
Wants
Urgent
Things
Class
Required
Common
Latter
Less
Luxury
Necessaries
Character
Satisfied
Luxuries
Including
Comforts
Firsts
Comfort
Consist
First
Meet
Distinguish
Must
More quotes by Alfred Marshall
Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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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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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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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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.
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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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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
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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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All labour is directed towards producing some effect.
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Consumption may be regarded as negative production.
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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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Capital is that part of wealth which is devoted to obtaining further wealth.
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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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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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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.
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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.
Alfred Marshall
The love for money is only one among many.
Alfred Marshall
