Alfred Marshall Quotes
Consumption may be regarded as negative production.
Citations
Marshall, Alfred. Principles of Economics. 8th ed., Macmillan and Co., 1920, p. 64.
Related Quotes
This statement of the problem was so eloquent and universal that it is even used a century later. For example it was quoted by James Inhofe, on his Senate Speech, October 4, 2004.
Alfred Marshall FBA was an English economist, who was one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics.