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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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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.
William Stanley Jevons
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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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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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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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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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Science arises from the discovery of Identity amid Diversity.
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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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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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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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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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.
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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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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The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
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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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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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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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
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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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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