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.
Economists
Alfred Marshall
Born in London 1842, Marshall founded neoclassical economics. Principles of Economics (1890) unified supply-demand analysis with marginal utility, creating the framework underpinning microeconomics.
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Alfred Marshall's Other Quotes
Related Quotes
Give me a fruitful error any time, full of seeds, bursting with its own corrections.
-- Vilfredo Pareto
There is no way to make an accurate map except by walking and measuring.
-- Inō Tadataka
Nature's action is complex: and nothing is gained in the long run by pretending that it is simple.
-- Alfred Marshall
Land is the Mother and Labour the Father of Wealth.
-- William Petty
Instead of using only comparative and superlative Words, and intellectual Arguments, I have taken the course to express my self in Terms of Number, Weight, or Measure.
-- William Petty
Errors using inadequate data are much less than those using no data at all.
-- Charles Babbage