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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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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
Objects
Shall
Pleasure
Ward
Pain
Commodity
Understand
Afford
Action
Substance
Object
Service
More quotes by William Stanley Jevons
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
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
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
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
A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.
William Stanley Jevons
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
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
Property is only another name for monopoly.
William Stanley Jevons
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
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
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
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
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
All classes of society are trade unionists at heart, and differ chiefly in the boldness, ability, and secrecy with which they pursue their respective interests.
William Stanley Jevons
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
There are many portions of economical doctrine which appear to me as scientific in form as they are consonant with facts.
William Stanley Jevons
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
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.
William Stanley Jevons
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
Capital simply allows us to expend labour in advance.
William Stanley Jevons
