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Among minor alterations, I may mention the substitution for the name political economy of the single convenient term economics. I cannot help thinking that it would be well to discard, as quickly as possible, the old troublesome double-worded name of our science.

William Stanley Jevons

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William Stanley Jevons
Age: 46 †
Born: 1835
Born: September 1
Died: 1882
Died: August 13
Economist
Philosopher
Photographer
Statistician
City of Liverpool
Jevons
William Stanley
Helping
Single
Minor
Political
Name
Minors
Cannot
Economy
Convenient
May
Names
Mention
Worded
Wells
Possible
Double
Discard
Well
Term
Economics
Alterations
Would
Help
Quickly
Substitution
Thinking
Science
Among
Troublesome

More quotes by William Stanley Jevons

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Fertility of imagination and abundance of guesses at truth are among the first requisites of discovery but the erroneous guesses must almost of necessity be many times as numerous as those which prove well founded.
William Stanley Jevons
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There are many portions of economical doctrine which appear to me as scientific in form as they are consonant with facts.
William Stanley Jevons
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As a general rule, it is foolish to do just what other people are doing, because there are almost sure to be too many people doing the same thing.
William Stanley Jevons
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One pound invested for five years gives the same result as five pounds invested for one year, the product being five pound years.
William Stanley Jevons
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An isolated man like Alexander Selkirk might feel the benefit of a stock of provisions, tools and other means of facilitating industry, although cut off from traffic, with other men.
William Stanley Jevons
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The theory which follows is entirely based on a calculus of pleasure and pain and the object of economics is to maximize happiness by purchasing pleasure, as it were, at the lowest cost of pain.
William Stanley Jevons
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Many persons entertain a prejudice against mathematical language, arising out of a confusion between the ideas of a mathematical science and an exact science. ...in reality, there is no such thing as an exact science.
William Stanley Jevons
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In any case I hold that there must arise a science of the development of economic forms and relations.
William Stanley Jevons
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As there are so many who talk prose without knowing it, or, again, who syllogize without having the least idea what a syllogism is, so economists have long been mathematicians without being aware of the fact.
William Stanley Jevons
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Science arises from the discovery of Identity amid Diversity.
William Stanley Jevons
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It is clear that economics, if it is to be a science at all, must be a mathematical science.
William Stanley Jevons
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My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.
William Stanley Jevons
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The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
William Stanley Jevons
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but, in reality, there is no such thing as an exact science.
William Stanley Jevons
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Over-production is not possible in all branches of industry at once, but it is possible in some as compared to others.
William Stanley Jevons
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In matters of philosophy and science authority has ever been the great opponent of truth. A despotic calm is usually the triumph of error. In the republic of the sciences sedition and even anarchy are beneficial in the long run to the greatest happiness of the greatest number.
William Stanley Jevons
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All classes of society are trade unionists at heart, and differ chiefly in the boldness, ability, and secrecy with which they pursue their respective interests.
William Stanley Jevons
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The point of equilibrium will be known by the criterion that an infinitely small amount of commodity exchanged in addition, at the same rate, will bring neither gain nor loss of utility.
William Stanley Jevons
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The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
William Stanley Jevons
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Property is only another name for monopoly.
William Stanley Jevons