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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

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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
Unless
Discern
Shall
Interruptions
Law
Complication
Learn
Apparent
Science
Operation
Even
Operations
Never
Economics
Perplexing
Among
Complications

More quotes by 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.
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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.
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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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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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It is clear that economics, if it is to be a science at all, must be a mathematical science.
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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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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 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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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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By a commodity we shall understand any object, substance, action or service, which can afford pleasure or ward off pain.
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There are a multitude of allied branches of knowledge connected with mans condition the relation of these to political economy is analogous to the connexion of mechanics, astronomy, optics, sound, heat, and every other branch more or less of physical science, with pure mathematics.
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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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Property is only another name for monopoly.
William Stanley Jevons
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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
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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
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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
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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 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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What capital I give for the spade merely replaces what the manufacturer had already invested in the expectation that the spade would be needed.
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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