The most valuable of all capital is that invested in human beings
Alfred MarshallRead
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.
Interpretation
What this quote means
Wealth includes desirable items that fulfill human wants, but not all desirable items are considered wealth.
This quote by Alfred Marshall emphasizes the distinction between wealth and desirability. It suggests that while wealth is fundamentally linked to what people find desirable and necessary for their well-being, not everything that is desirable counts as wealth. This perspective encourages a deeper understanding of economic value and the subjective nature of human wants.
Themes
WealthDesirabilityHuman WantsEconomic Value
In practice
Example use cases
During a lecture about the nature of wealth and economics, this quote can illustrate the limitations of defining wealth purely in monetary terms.
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