William Stanley Jevons Quotes
William Stanley Jevons (1835-1882) was a British economist and logician known for his contributions to the fields of economics, statistics, and logic. He is best known for his work on the theory of marginal utility, which revolutionized economic thinking and influenced the development of neoclassica…Read More
William Stanley Jevons (1835-1882) was a British economist and logician known for his contributions to the fields of economics, statistics, and logic. He is best known for his work on the theory of marginal utility, which revolutionized economic thinking and influenced the development of neoclassical economics. Jevons also made significant contributions to the study of business cycles and the use of statistical methods in economics. His notable works include “The Theory of Political Economy” and “The Coal Question.” Jevons’ ideas continue to be studied and debated by economists and his work remains influential in modern economic theory.Read Less
William Stanley Jevons (1835-1882) was a British economist and logician known for his contributions to the fields of economics, statistics, and logic. He is best known for his work on the theory of marginal utility, which revolutionized economic thinking and influenced the development of neoclassical economics. Jevons also made significant contributions to the study of business cycles and the use of statistical methods in economics. His notable works include “The Theory of Political Economy” and “The Coal Question.” Jevons’ ideas continue to be studied and debated by economists and his work remains influential in modern economic theory.
6 Best William Stanley Jevons Quotes
William Stanley Jevons Career Highlights
- William Stanley Jevons was a British economist and logician who lived from 1835 to 1882.
- He is best known for his contributions to the field of economics, particularly in the areas of marginal utility and the theory of value.
- Jevons was also a pioneer in the use of mathematical methods in economics, and his work helped to establish economics as a more rigorous and scientific discipline.
Key Contributions by William Stanley Jevons
- Jevons’ most significant contribution to economics was his theory of marginal utility, which states that the value of a good or service is determined by the marginal utility it provides to the consumer.
- He also developed the concept of the “Jevons paradox,” which states that increases in efficiency can lead to an increase in overall consumption, rather than a decrease as expected.
- Jevons’ work on the business cycle and the relationship between money and prices also had a significant impact on the field of economics.
What Sets William Stanley Jevons Apart
- Jevons’ use of mathematical methods in economics was groundbreaking and helped to establish economics as a more rigorous and scientific discipline.
- He was also one of the first economists to recognize the importance of psychology and human behavior in economic decision-making.
- Jevons’ work on the business cycle and the relationship between money and prices was ahead of its time and has continued to influence economic thought to this day.
Takeaways
- William Stanley Jevons was a pioneering economist and logician who made significant contributions to the field of economics.
- His work on marginal utility, the Jevons paradox, and the business cycle has had a lasting impact on economic theory and practice.
- Jevons’ use of mathematical methods and recognition of the importance of psychology in economics set him apart from his contemporaries and continue to be relevant in modern economics.
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