Quotes by Alfred Marshall
Alive from: 1842-1924
Category: Economists and businessmen
Quotes 16 till 19 of 19.
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.
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.
We might as 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 utility or cost of production.Source: Principles of Economics (1920) Book V, Ch. III
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.