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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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Alfred Marshall
Age: 82 †
Born: 1842
Born: January 1
Died: 1924
Died: January 1
Economist
Philosopher
University Teacher
Bermondsey
Surrey
Long
Complex
Series
Simple
Elementary
Running
Propositions
Action
Gained
Nature
Pretending
Nothing
Describe
Trying
Complexes
More quotes by Alfred Marshall
All labour is directed towards producing some effect.
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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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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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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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Consumption may be regarded as negative production.
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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 most valuable of all capital is that invested in human beings
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The love for money is only one among many.
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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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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 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 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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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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In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
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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 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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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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Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
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Political Economy or Economics is a study of mankind in the ordinary business of life.
Alfred Marshall
