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" In common use almost every word has many shades of meaning, and therefore needs to be interpreted by the context. "

Alfred Marshall

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" The hope that poverty and ignorance may gradually be extinguished, derives indeed much support from the steady progress of the working classes during the nineteenth century. "

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" The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes. "

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" It is common to distinguish necessaries, comforts, and luxuries; the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character. "

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" Individual and national rights to wealth rest on the basis of civil and international law, or at least of custom that has the force of law. "

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" Material goods consist of useful material things, and of all rights to hold, or use, or derive benefits from material things, or to receive them at a future time. "

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" Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree. "

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" All labour is directed towards producing some effect. "

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" In every age poets and social reformers have tried to stimulate the people of their own time to a nobler life by enchanting stories of the virtues of the heroes of old. "

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" Capital is that part of wealth which is devoted to obtaining further wealth. "

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" Slavery was regarded by Aristotle as an ordinance of nature, and so probably was it by the slaves themselves in olden time. "

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" Civilized countries generally adopt gold or silver or both as money. "

Alfred Marshall

" And very often the influence exerted on a person's character by the amount of his income is hardly less, if it is less, than that exerted by the way in which it is earned. "

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" Consumption may be regarded as negative production. "

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" 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. "

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" But if inventions have increased man's power over nature very much, then the real value of money is better measured for some purposes in labour than in commodities. "

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" Producer's Surplus is a convenient name for the genus of which the rent of land is the leading species. "

Alfred Marshall