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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
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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
Calculates
Shows
Effects
Contracted
May
Industry
Best
Economy
Scientifically
Men
Sort
Applied
Causes
Vague
Fact
Perceive
Science
Speaking
Facts
Mathematics
More quotes by 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
In any case I hold that there must arise a science of the development of economic forms and relations.
William Stanley Jevons
Science arises from the discovery of Identity amid Diversity.
William Stanley Jevons
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
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
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
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
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
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.
William Stanley Jevons
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
Capital simply allows us to expend labour in advance.
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
A spade may be made of any size, and if the same number of strokes be made in the hour, the requisite exertion will vary nearly as the cube of the length of the blade.
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
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
The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
William Stanley Jevons
The child which overbalances itself in learning to walk is experimenting on the law of gravity.
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
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
By a commodity we shall understand any object, substance, action or service, which can afford pleasure or ward off pain.
William Stanley Jevons
