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Alfred Marshall Quotes

Economist

Alfred Marshall was a British economist born on July 26, 1842, and died on July 13, 1924. He is one of the most influential economists of the late 19th and early 20th centuries and is considered one of the founders of neoclassical economics.

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Famous Alfred Marshall Quotes

“Every short statement about economics is misleading (with the possible exception of my present one).”

Education Economics Statements Exception Mislead

Author:Alfred Marshall

“Political Economy or Economics is a study of mankind in the ordinary business of life.”

Political Economy Study Mankind Ordinary Economics Political Economy

Author:Alfred Marshall

“Though a simple book can be written on selected topics, the central doctrines of economics are not simple and cannot be made so.”

Made Book Simple Written Economics Doctrine Topics Selected

Book:The Early Economic Writings of Alfred Marshall, 1867–1890

Source: The Early Economic Writings of Alfred Marshall, 1867–1890

“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.”

Wells Littles Done Problem Language Difficult Term Imagination Conditions Particular Reader Economics Connected Oil Vain Machinery Sinking Diagrams

Author:Alfred Marshall

“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.”

Wells Might Values Pieces Cutting Demand Paper Economics Pairs Disputes Blades Scissors

Book:Principles of Economics: Unabridged Eighth Edition

Source: Principles of Economics: Unabridged Eighth Edition

“Capital is that part of wealth which is devoted to obtaining further wealth.”

Philosophy Political Wealth Economics Finance Devoted Obtaining

Book:The Economics of Industry

Source: The Economics of Industry

“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.”

May Philosophy Political Class Poverty Support Progress Century Ignorance Economics Steady Working Class 19th Century Steady Progress

Book:Principles of Economics: An Introductory Volume

Source: Principles of Economics: An Introductory Volume

“The most valuable of all capital is that invested in human beings”

People Humans Human Beings Money Economics Investment Investing Valuable

Book:Principles of Economics: Unabridged Eighth Edition

Source: Principles of Economics: Unabridged Eighth Edition

About the Author

Born: July 26, 1842
Died: July 13, 1924
Known for: Economist
Quotes: 29

Books & Sources

Principles of EconomicsRelated source material

Principles of Economics: Unabridged Eighth EditionRelated source material

Elements of Economics of Industry: Being the First Volume of Elements of EconomicsRelated source material

Principles of Economics: An Introductory VolumeRelated source material

The Economics of IndustryRelated source material

Collected WorksRelated source material

Selected Works of Alfred Marshall for a Memorial Collection for Professor Ralph L. Dewey, 1901-1959: Memorials of Alfred MarshallRelated source material

The Early Economic Writings of Alfred Marshall, 1867–1890Related source material

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