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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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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
Fully
Difficulty
Conceiving
Conditions
Utility
Mainly
Difficulties
Clearly
Economics
More quotes by William Stanley Jevons
PLEASURE and pain are undoubtedly the ultimate objects of the calculus of economics. To satisfy our wants to the utmost with the least effort - to procure the greatest amount of what is desirable at the expense of the least that is undesirable - in other words, to maximize pleasure, is the problem of economics.
William Stanley Jevons
Some of the gold possessed by the Romans is doubtless mixed with what we now possess and some small part of it will be handed down as long as the human race exists.
William Stanley Jevons
Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.
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
In any case I hold that there must arise a science of the development of economic forms and relations.
William Stanley Jevons
Ina regular and constant employment the greatest result will always be gained by such a rate as allows a workman each day,or each week at the most, to recover all fatigue and recommence with an undiminished store of energy.
William Stanley Jevons
Capital simply allows us to expend labour in advance.
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
The child which overbalances itself in learning to walk is experimenting on the law of gravity.
William Stanley Jevons
but, in reality, there is no such thing as an exact science.
William Stanley Jevons
By a commodity we shall understand any object, substance, action or service, which can afford pleasure or ward off pain.
William Stanley Jevons
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
Property is only another name for monopoly.
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
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
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
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
we often observe that there is abundance of capital to be had at low rates of interest, while there are also large numbers of artisans starving for want of employment.
William Stanley Jevons
A little experience is worth much argument a few facts are better than any theory.
William Stanley Jevons
We shall never have a science of economics unless we learn to discern the operation of law even among the most perplexing complications and apparent interruptions.
William Stanley Jevons
