39 Quotes by Alfred Marshall

(1) Use mathematics as shorthand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real life (5) Burn the mathematics. (6) If you can’t succeed in 4, burn 3. This I do often.

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.

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.

All labour is directed towards producing some effect.

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

The hope that poverty and ignorance may gradually be extinguished derives indeed much support from the steady progress of the working classes during the 19th century.

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

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.

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.