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William Stanley Jevons Quotes

Economist

William Stanley Jevons was a British economist born on September 1, 1835, and died on August 13, 1882. He was a pioneer in the theory of marginal utility and had a profound impact on the development of economics.

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Famous William Stanley Jevons Quotes

“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.”

Pain Pleasure Objects Theory Cost Economics Lowest Calculus Pain And Pleasure Purchasing

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.”

Men Want Cost Ordinary Aim Labour Utility Calculus

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“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.”

Want Problem Pain Pleasure Effort Objects Amount Economics Ultimate Expenses Desirable Calculus Pain And Pleasure Undesirable

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“It is clear that Economics, if it is to be a science at all, must be a mathematical science ... simply because it deals with quantities... As the complete theory of almost every other science involves the use of calculus, so we cannot have a true theory of Economics without its aid.”

Ifs Use Deals Education Clear Theory Economics Mathematics Aids Mathematical Statistics Quantity Calculus

Author:William Stanley Jevons