"The most valuable of all capital is that invested in human beings"
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Quote collection
Alfred Marshall quotes (page 1 of 2)
29 quotes — follow a thought to its full quote page.
"Political Economy or Economics is a study of mankind in the ordinary business of life."
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"Capital is that part of wealth which is devoted to obtaining further wealth."
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"In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context."
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"Knowledge is our most powerful engine of production."
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"Civilized countries generally adopt gold or silver or both as money."
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"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."
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"The most reckless and treacherous of all theorists is he who professes to let facts and figures speak for themselves."
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"Nature's action is complex: and nothing is gained in the long run by pretending that it is simple, and trying to describe it in a series of elementary propositions."
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"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."
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"Every short statement about economics is misleading (with the possible exception of my present one)."
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"The love for money is only one among many."
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"Consumption may be regarded as negative production."
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"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."
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"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."
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"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."
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"Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time."
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"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."
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"The commercial storm leaves its path strewn with ruin. When it is over there is calm, but a dull, heavy calm."
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"Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species."
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