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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

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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
Whole
Generally
Progressively
Must
Result
Conceive
Time
Results
Consumed
Lasts
Continued
Moment
Capital
Often
Labour
Moments
Length
Certain
Enjoyed

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Science arises from the discovery of Identity amid Diversity.
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A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.
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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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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.
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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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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.
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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.
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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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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.
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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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but, in reality, there is no such thing as an exact science.
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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.
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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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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.
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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.
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Capital simply allows us to expend labour in advance.
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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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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.
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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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