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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
Common
Latter
Less
Luxury
Necessaries
Character
Satisfied
Luxuries
Firsts
Including
Comforts
First
Comfort
Consist
Must
Meet
Distinguish
Things
Wants
Urgent
Class
Required
More quotes by Alfred Marshall
All labour is directed towards producing some effect.
Alfred Marshall
The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
Alfred Marshall
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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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Capital is that part of wealth which is devoted to obtaining further wealth.
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The most valuable of all capital is that invested in human beings
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Every short statement about economics is misleading (with the possible exception of my present one).
Alfred Marshall
Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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
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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The love for money is only one among many.
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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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Knowledge is our most powerful engine of production.
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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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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.
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
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
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
