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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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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
Years
Product
Result
Products
Gives
Results
Year
Pound
Five
Invested
Giving
Pounds

More quotes by William Stanley Jevons

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Labour once spent has no influence on the future value of any article it isgone and lost for ever. In commerce bygones are forever bygones and we are alwaysstarting clearat each moment, judging the values of things with a view to future utility.
William Stanley Jevons
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I protest against deference to any man, whether John Stuart Mill, or Adam Smith, or Aristotle, being allowed to check inquiry. Our science has become far too much a stagnant one, in which opinions rather than experience and reason are appealed to.
William Stanley Jevons
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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
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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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By a commodity we shall understand any object, substance, action or service, which can afford pleasure or ward off pain.
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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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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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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In short, I do not write for mathematicians, nor as a mathematician, but as an economist wishing to convince other economists that their science can only be satisfactorily treated on an explicitly mathematical basis.
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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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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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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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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Capital simply allows us to expend labour in advance.
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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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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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.
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 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
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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