Alfred Marshall
His 'Principles of Economics' synthesized classical and marginalist theories, introducing concepts like supply and demand curves and consumer surplus.
Quotes by Alfred Marshall
Economics must be realistic, not abstract.
The interdependence of industries is a key to understanding the economy.
In my youth, I hoped to see economic science become as exact as physics.
The economist's task is to trace the effects of economic causes.
Happiness is the ultimate goal of economic activity.
The price system is a marvelous invention for allocating resources.
Economic welfare depends on the national dividend and its distribution.
The tree of economic knowledge grows from the roots of observation.
Monopoly is the enemy of efficiency.
The laborer is worthy of his hire, but only if it reflects marginal productivity.
In economics, as in life, balance is key.
The future of economics lies in its application to social problems.
I have devoted my life to making economics a tool for human betterment.
Wit in economics is rare, but necessary to lighten the load of theory.
The comebacks in economic debates are sharper than swords.
On my deathbed, I reflect that economics has been my life's work, and it has served humanity well.
The beauty of economic theory is in its elegance and truth.
Life's meaning is found in contributing to the common good through our labors.
Politics and economics are intertwined like vines.
A witty economist once said, but I prefer facts over jests.