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

It seems perfectly clear that Economy, if it is to be a science at all, must be a mathematical science. There exists much prejudice against attempts ….

It isrequisite from time to time to remind one generation of the experience which led a former generation to important legislative actions..

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

The point of equilibrium will be known by the criterion that an infinitely small amount of commodity exchanged in addition, at the same rate, will br….

Labour once spent has no influence on the future value of any article; it isgone and lost for ever. In commerce bygones are forever bygones; and we a….

Capital simply allows us to expend labour in advance..

Fertility of imagination and abundance of guesses at truth are among the first requisites of discovery; but the erroneous guesses must almost of nece….

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

Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility..

Truth indeed is sacred; but, as Pilate said, "What is truth?" Show us the undoubted infallible criterion of absolute truth, and we will hold it as a ….

A correct theory is the first step towards improvement, by showing what we need and what we might accomplish..

PLEASURE and pain are undoubtedly the ultimate objects of the calculus of economics. To satisfy our wants to the utmost with the least effort - to pr….

All classes of society are trade unionists at heart, and differ chiefly in the boldness, ability, and secrecy with which they pursue their respective….

I protest against deference to any man, whether John Stuart Mill, or Adam Smith, or Aristotle, being allowed to check inquiry. Our science has become….

Logic should no longer be considered an elegant and learned accomplishment; it should take its place as an indispensable study for every well-informe….

The theory which follows is entirely based on a calculus of pleasure and pain; and the object of economics is to maximize happiness by purchasing ple….

As a general rule, it is foolish to do just what other people are doing, because there are almost sure to be too many people doing the same thing..

Value is the most invincible and impalpable of ghosts, and comes and goes unthought of, while the visible and dense matter remains as it was..

My principal work now lies in tracing out the exact nature and conditions of utility. It seems strange indeed that economists have not bestowed more ….

A little experience is worth much argument; a few facts are better than any theory..