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Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.

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
Free
Economists
Never
Distinguish
Economist
Difficulties
Application
Difficulty
Unless
Theory

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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.
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The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
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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.
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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.
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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.
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Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.
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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.
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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.
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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.
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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.
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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.
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The child which overbalances itself in learning to walk is experimenting on the law of gravity.
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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Science arises from the discovery of Identity amid Diversity.
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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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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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Property is only another name for monopoly.
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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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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.
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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