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The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.

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
Professes
Theorists
Treacherous
Reckless
Figures
Speak
Facts

More quotes by Alfred Marshall

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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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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.
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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.
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Knowledge is our most powerful engine of production.
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Civilized countries generally adopt gold or silver or both as money.
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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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Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
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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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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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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 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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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Consumption may be regarded as negative production.
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Capital is that part of wealth which is devoted to obtaining further wealth.
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Political Economy or Economics is a study of mankind in the ordinary business of life.
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The love for money is only one among many.
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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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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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All labour is directed towards producing some effect.
Alfred Marshall