Share
×
Inspirational Quotes
Authors
Professions
Topics
Tags
Quote
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
Share
Change background
T
T
T
Change font
Original
TAGS & TOPICS
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
Pleasure
Follows
Happiness
Entirely
Pain
Economics
Object
Based
Maximize
Cost
Purchasing
Objects
Calculus
Theory
Lowest
More quotes by 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
The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
William Stanley Jevons
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
It is clear that economics, if it is to be a science at all, must be a mathematical science.
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
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
Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.
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
The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
William Stanley Jevons
Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.
William Stanley Jevons
A little experience is worth much argument a few facts are better than any theory.
William Stanley Jevons
One of the first and most difficult steps in a science is to conceive clearly the nature of the magnitudes about which we are arguing.
William Stanley Jevons
The whole result of continued labour is not often consumed and enjoyed in a moment the result generally lasts for a certain length of time. We must then conceive the capital as being progressively uninvested.
William Stanley Jevons
A spade may be made of any size, and if the same number of strokes be made in the hour, the requisite exertion will vary nearly as the cube of the length of the blade.
William Stanley Jevons
A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.
William Stanley Jevons
You will perceive that economy, scientifically speaking, is a very contracted science it is in fact a sort of vague mathematics which calculates the causes and effects of man's industry, and shows how it may be best applied.
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
Property is only another name for monopoly.
William Stanley Jevons
Logic should no longer be considered an elegant and learned accomplishment it should take its place as an indispensable study for every well-informed person.
William Stanley Jevons
but, in reality, there is no such thing as an exact science.
William Stanley Jevons
