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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
Economics
Fully
Difficulty
Conditions
Conceiving
Utility
Mainly
Difficulties
Clearly

More quotes by William Stanley Jevons

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Science arises from the discovery of Identity amid Diversity.
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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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
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The whole value of science consists in the power which it confers upon us of applying to one object the knowledge acquired from like objects and it is only so far, therefore, as we can discover and register resemblances that we can turn our observations to account.
William Stanley Jevons
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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
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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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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
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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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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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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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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
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Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.
William Stanley Jevons
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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
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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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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
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A little experience is worth much argument a few facts are better than any theory.
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 ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.
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 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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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