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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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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
Utility
Labour
Aim
Ordinary
Cost
Wants
Supplying
Least
Calculus
Men
Aims

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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.
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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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Science arises from the discovery of Identity amid Diversity.
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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.
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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 first and most difficult steps in a science is to conceive clearly the nature of the magnitudes about which we are arguing.
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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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Capital simply allows us to expend labour in advance.
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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.
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The child which overbalances itself in learning to walk is experimenting on the law of gravity.
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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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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.
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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.
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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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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.
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Ina regular and constant employment the greatest result will always be gained by such a rate as allows a workman each day,or each week at the most, to recover all fatigue and recommence with an undiminished store of energy.
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Property is only another name for monopoly.
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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.
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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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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