Monday, January 19, 2026

William Stanley Jevons and the calculus of pleasure and pain (minimal version)

William Stanley Jevons (1835-1882) was an English economist best known for his contributions to utility theory. There are 3 quotes listed below.

1. "It is clear that economics, if it is to be a science at all, must be a mathematical science." (The Theory of Political Economy, 1871)

2. "In this work I have attempted to treat economy as a calculus of pleasure and pain, and have sketched out, almost irrespective of previous opinions, the form which the science, as it seems to me, must ultimately take." (The Theory of Political Economy, 1871)

3. "The conclusion to which I am ever more clearly coming is that the only hope of attaining a true system of economics is to fling aside, once and forever, the mazy and preposterous assumptions of the Ricardian school. Our English economists have been living in a fool's paradise." (The Theory of Political Economy, 1871)

(original version from April 2017)