25 Quotes by Alfred Marshall
Alfred Marshall was a British economist who is considered one of the most influential economists of the late 19th and early 20th centuries. Born in 1842, Marshall is known for his pioneering work in microeconomics, particularly his analysis of supply and demand and his development of the concept of marginal utility. His most famous work, "Principles of Economics", was published in 1890 and is still considered a classic in the field of economics. Marshall's contributions to the development of economic theory have had a lasting impact on the field, and his ideas continue to be studied and debated by economists today. (Bio)
Alfred Marshall Quotes
The most valuable of all capital is that invested in human beings (Meaning)
Political Economy or Economics is a study of mankind in the ordinary business of life.
Knowledge is our most powerful engine of production.
Capital is that part of wealth which is devoted to obtaining further wealth.
In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context. (Meaning)
We might as well reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.
The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves.
Civilized countries generally adopt gold or silver or both as money.
Every short statement about economics is misleading (with the possible exception of my present one).
The love for money is only one among many.
Consumption may be regarded as negative production.
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.
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.
All wealth consists of desirable things; that is, things which satisfy human wants directly or indirectly: but not all desirable things are reckoned as wealth.
I admit that these terms and the diagrams connected with them repel some readers, and fill others with the vain imagination that they have mastered difficult economics problems, when really they have done little more than learn the language in which parts of those problems can be expressed, and the machinery by which they can be handled. When the actual conditions of particular problems have not been studied, such knowledge is little better than a derrick for sinking oil-wells erected where there are no oil-bearing strata.
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.
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.
The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm.
All labour is directed towards producing some effect.
Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.
Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species.
Material goods consist of useful material things, and of all rights to hold, or use, or derive benefits from material things, or to receive them at a future time.
The hope that poverty and ignorance may gradually be extinguished derives indeed much support from the steady progress of the working classes during the 19th century.
And very often the influence exerted on a person's character by the amount of his income is hardly less, if it is less, than that exerted by the way in which it is earned.
Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
― Alfred Marshall Quotes
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Tal Gur is an author, founder, and impact-driven entrepreneur at heart. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His journey and most recent book, The Art of Fully Living, has led him to found Elevate Society.
