Alfred Marshall
Alfred Marshall
Alfred Marshallwas one of the most influential economists of his time. His book, Principles of Economics, was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics...
NationalityEnglish
ProfessionEconomist
Date of Birth26 July 1842
real men purpose
But if inventions have increased man's power over nature very much, then the real value of money is better measured for some purposes in labour than in commodities.
hero firefighter people
In every age poets and social reformers have tried to stimulate the people of their own time to a nobler life by enchanting stories of the virtues of the heroes of old.
character class luxury
It is common to distinguish necessaries, comforts, and luxuries; the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character.
negative may consumption
Consumption may be regarded as negative production.
slavery slave ordinances
Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
education economics exception
Every short statement about economics is misleading (with the possible exception of my present one).
fall finance purchasing
The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes.
money
The love for money is only one among many.
running simple long
Nature's action is complex: and nothing is gained in the long run by pretending that it is simple, and trying to describe it in a series of elementary propositions.
facts speak reckless
The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
political ordinary study
Political Economy or Economics is a study of mankind in the ordinary business of life.
powerful most-powerful productions
Knowledge is our most powerful engine of production.
shade needs use
In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.
country money gold
Civilized countries generally adopt gold or silver or both as money.