Quotes from work
The Theory of Political Economy


William Stanley Jevons photo

“In any case I hold that there must arise a science of the development of economic forms and relations.”

Preface To The Second Edition, p. 9.
The Theory of Political Economy (1871)

William Stanley Jevons photo

“Economists can never be free of from difficulties unless they will distinguish between a theory and the application of a theory.”

Source: The Theory of Political Economy (1871), Chapter IV, Theory of Exchange, p. 108.

William Stanley Jevons photo

“The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.”

Source: The Theory of Political Economy (1871), Chapter I, Introduction, p. 53.

William Stanley Jevons photo

“A correct theory is the first step towards improvement”

Source: The Theory of Political Economy (1871), Chapter I, Introduction, p. 44.
Context: A correct theory is the first step towards improvement, by showing what we need and what we might accomplish.

William Stanley Jevons photo

“Q, which would include quantity of space or time or force, in fact almost any kind of quantity.”

Preface To The Second Edition, p. 6.
The Theory of Political Economy (1871)
Context: A correspondent, Captain Charles Christie R. E., to whom I have shown these sections after they were printed, objects reasonably enough that commodity should not have been represented by M, or Mass, but by some symbol, for instance Q, which would include quantity of space or time or force, in fact almost any kind of quantity.

William Stanley Jevons photo

“but, in reality, there is no such thing as an exact science.”

Source: The Theory of Political Economy (1871), Chapter I, Introduction, p. 40.

William Stanley Jevons photo

“I do not write for mathematicians, nor as a mathematician, but as an economist”

Preface To The Second Edition, p. 7.
The Theory of Political Economy (1871)
Context: In short, I do not write for mathematicians, nor as a mathematician, but as an economist wishing to convince other economists that their science can only be satisfactorily treated on an explicitly mathematical basis.

William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo

“The difficulties of economics are mainly the difficulties of conceiving clearly and fully the conditions of utility.”

Source: The Theory of Political Economy (1871), Chapter III, Theory of Utility, p. 82.

William Stanley Jevons photo

“Over-production is not possible in all branches of industry at once, but it is possible in some as compared to others.”

Source: The Theory of Political Economy (1871), Chapter V, Theory of Labour, p. 172.

William Stanley Jevons photo

“It is clear that economics, if it is to be a science at all, must be a mathematical science.”

Source: The Theory of Political Economy (1871), Chapter I, Introduction, p. 38.

William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo
William Stanley Jevons photo

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