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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 laws of thought are natural laws with which we have no power to interfere, and which are of course not to be in any way confused with the artificial laws of a country, which are invented by men and can be altered by them. Every science is occupied in detecting and describing the natural laws which are inflexibly observed by the objects treated in the Science.”

Men Way Country Law Courses Natural Objects Treated Confused Artificial Interfere Describing Altered Natural Law

Book:Elementary lessons in logic

Source: Elementary lessons in logic

“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

“By a commodity we shall understand any object, substance, action or service, which can afford pleasure or ward off pain.”

Action Pain Pleasure Objects Substance Commodity

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“The whole value of science consists in the power which it confers upon us of applying to one object the knowledge acquired from like objects; and it is only so far, therefore, as we can discover and register resemblances that we can turn our observations to account.”

Whole Science Values Turns Knowledge Objects Accounts Observation Register Resemblance

Book:The Principles of Science: A Treatise on Logic and Scientific Method

Source: The Principles of Science: A Treatise on Logic and Scientific Method