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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
Capital
Labour
Allows
Simply
Expend
Advance

More quotes by 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.
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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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It is clear that economics, if it is to be a science at all, must be a mathematical 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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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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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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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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The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.
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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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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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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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 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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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
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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
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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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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.
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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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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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