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A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.
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
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More quotes by William Stanley Jevons
I feel quite unable to adopt the opinion that the moment goods pass into the possession of the consumer they cease altogether to have the attributes of capital.
William Stanley Jevons
It isrequisite from time to time to remind one generation of the experience which led a former generation to important legislative actions.
William Stanley Jevons
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
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
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
Logic is not only an exact science, but is the most simple and elementary of all sciences it ought therefore undoubtedly to find some place in every course of education.
William Stanley Jevons
Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.
William Stanley Jevons
One of the most important axioms is, that as the quantity of any commodity, for instance, plain food, which a man has to consume, increases, so the utility or benefit derived from the last portion used decreases in degree. The decrease in enjoyment between the beginning and the end of a meal may be taken as an example.
William Stanley Jevons
I protest against deference to any man, whether John Stuart Mill, or Adam Smith, or Aristotle, being allowed to check inquiry. Our science has become far too much a stagnant one, in which opinions rather than experience and reason are appealed to.
William Stanley Jevons
Capital simply allows us to expend labour in advance.
William Stanley Jevons
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
Value is the most invincible and impalpable of ghosts, and comes and goes unthought of, while the visible and dense matter remains as it was.
William Stanley Jevons
A little experience is worth much argument a few facts are better than any theory.
William Stanley Jevons
The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
William Stanley Jevons
The child which overbalances itself in learning to walk is experimenting on the law of gravity.
William Stanley Jevons
There is no such thing as absolute cost of labour it is all a matter of comparison. Every one gets the most which he can for his exertions some can get little or nothing, because they have not sufficient strength, knowledge or ingenuity others get much, because they have, comparatively speaking, a monopoly of certain powers.
William Stanley Jevons
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
What capital I give for the spade merely replaces what the manufacturer had already invested in the expectation that the spade would be needed.
William Stanley Jevons
In any case I hold that there must arise a science of the development of economic forms and relations.
William Stanley Jevons
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