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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

“Labour once spent has no influence on the future value of any article; it isgone and lost for ever. In commerce bygones are forever bygones; and we are alwaysstarting clearat each moment, judging the values of things with a view to future utility.”

Moments Values Lost Views Forever Influence Judging Labour Articles Commerce Utility Bygones

Author:William Stanley Jevons

“One of the most important axioms is, that as the quantity of any commodity, for instance, plain food, which a man has to consume, increases, so the utility or benefit derived from the last portion used decreases in degree. The decrease in enjoyment between the beginning and the end of a meal may be taken as an example.”

Men May Important Ends Lasts Used Taken Example Degrees Benefits Increase Instance Meals Enjoyment Portions Quantity Commodity Utility Decrease Axioms

Book:Papers and correspondence of William Stanley Jevons

Source: Papers and correspondence of William Stanley Jevons

“The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.”

Conditions Economics Difficulty Utility Conceiving

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“The point of equilibrium will be known by the criterion that an infinitely small amount of commodity exchanged in addition, at the same rate, will bring neither gain nor loss of utility.”

Loss Known Amount Gains Rate Commodity Criteria Utility Equilibrium Small Amounts

Author:William Stanley Jevons

“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

“My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more minute attention on a subject which doubtless furnishes the true key to the problems of economics.”

Problem Seems Lying Attention Minutes Conditions Subjects Strange Keys Economics Principal Economist Utility Tracing

Book:The Theory of Political Economy

Source: The Theory of Political Economy

“Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility.”

Values Opinion Novel Depends Reflection Inquiry Utility

Book:The Theory of Political Economy

Source: The Theory of Political Economy