Alfred Marshall Quotes

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

  Alfred Marshall

  Topics in Uncategorized

  Tags in Part, Wealth

• 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.

  Alfred Marshall

  Topics in Money, Power

  Tags in Time, Price

• The hope that poverty and ignorance may gradually be extinguished, derives indeed much support from the steady progress of the working classes during the nineteenth century.

  Alfred Marshall

• Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time.

  Alfred Marshall

• Producer’s Surplus is a convenient name for the genus of which the rent of land is the leading species.

  Alfred Marshall

• 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.

  Alfred Marshall

• 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.

  Alfred Marshall

• In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.

  Alfred Marshall

• In every age poets and social reformers have tried to stimulate the people of their own time to a nobler life by enchanting stories of the virtues of the heroes of old.

  Alfred Marshall

• In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context.

  Alfred Marshall

• Consumption may be regarded as negative production.

  Alfred Marshall

• 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.

  Alfred Marshall

• 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.

  Alfred Marshall

• 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.

  Alfred Marshall

• All labour is directed towards producing some effect.

  Alfred Marshall

• Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.

  Alfred Marshall

• Civilized countries generally adopt gold or silver or both as money.

  Alfred Marshall

  Topics in Money

Alfred Marshall (17)

Birth:	26th July, 1842
Death:	13th July, 1924
Nationality:	British
Profession:	Economist

About

Marshall was born in Clapham, England, July 26, 1842. His father was a bank cashier and a devout Evangelical. Marshall grew up in the London suburb of Clapham and was educated at the Merchant Taylors' School and St John's College, Cambridge, where he demonstrated an aptitude in mathematics, achieving the rank of Second Wrangler in the 1865 Cambridge Mathematical Tripos. Marshall experienced a mental crisis that led him to abandon physics and switch to philosophy. He began with metaphysics, specifically "the philosophical foundation of knowledge, especially in relation to theology.". Metaphysics led Marshall to ethics, specifically a Sidgwickian version of utilitarianism; ethics, in turn, led him to economics, because economics played an essential role in providing the preconditions for the improvement of the working class. Even as he turned to economics, his ethical views continued to be a dominant force in his thinking.
Marshall was elected in 1865 to a fellowship at St John's College at Cambridge, and became lecturer in the moral sciences in 1868. In 1885 he became professor of political economy at Cambridge, where he remained until his retirement in 1908. Over the years he interacted with many British thinkers including Henry Sidgwick, W.K. Clifford, Benjamin Jowett, William Stanley Jevons, Francis Ysidro Edgeworth, John Neville Keynes and John Maynard Keynes. Marshall founded the "Cambridge School" which paid special attention to increasing returns, the theory of the firm, and welfare economics; after his retirement leadership passed to Alfred Pigou and John Maynard Keynes.
Having died aged 81 at his home in Cambridge, Marshall is buried in the Ascension Parish Burial Ground.

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