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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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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
Large
Rates
Numbers
Starving
Interest
Observe
Often
Employment
Also
Abundance
Capital
Lows
Rate
Artisans

More quotes by 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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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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What capital I give for the spade merely replaces what the manufacturer had already invested in the expectation that the spade would be needed.
William Stanley Jevons
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I consider that interest is determined by the increment of produce which it enables a labourer to obtain, and is altogether independent of the total return which he receives for this labour.
William Stanley Jevons
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In any case I hold that there must arise a science of the development of economic forms and relations.
William Stanley Jevons
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but, in reality, there is no such thing as an exact science.
William Stanley Jevons
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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
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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
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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 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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The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
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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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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Capital simply allows us to expend labour in advance.
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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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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The child which overbalances itself in learning to walk is experimenting on the law of gravity.
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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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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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