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Capital simply allows us to expend labour in advance.

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
Expend
Advance
Capital
Labour
Allows
Simply

More quotes by 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.
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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.
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Science arises from the discovery of Identity amid Diversity.
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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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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.
William Stanley Jevons
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A little experience is worth much argument a few facts are better than any theory.
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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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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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PLEASURE and pain are undoubtedly the ultimate objects of the calculus of economics. To satisfy our wants to the utmost with the least effort - to procure the greatest amount of what is desirable at the expense of the least that is undesirable - in other words, to maximize pleasure, is the problem of economics.
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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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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
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The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
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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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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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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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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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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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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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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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A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.
William Stanley Jevons