William Stanley Jevons

William Stanley Jevons (1835-1882)

• Born at Liverpool in England in 1835

 
works

• General Mathematics Theory of Political Economy (1859)
• A serious fall in the value of gold (1863)
• Pure Logic, or the logic of quality apart from quantity(1864)
• The substitution of similar, the true principle of reasoning (1869)
• Elementary lessons on logic(1870)
• Theory of Political Economy (1871)
• Investigation in Currency and Finance (1884)
• The Coal Question (1865)
• The State in Relation to Labour (1882)
• Principles of science (1874)
• Money and Mechanism of Exchange (1875)
• Methods of Social Reform
• Studies in deductive logic (1880)
• The state in relation to labour (1882)

 
Main Ideas and Theories

• Importance of Consumption
• Utility : to denote the abstract quality whereby an object serves our purpose
• The Marginal Utility Theory of Value
• Repudiation of the Labour Theory of Value
• Law of Diminishing Utility: total utility increased while final utility decreased.
• Law of Equi-Marginal Utility
• Theory of Distribution
• Theory of Capital
• The Sun Spot Theory of Trade Cycles: it established a connection between the rhythm of harvest and trade.