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William Stanley Jevons

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The calculus of utility aims at supplying the ordinary wants of man at the least cost of labour.
--
Chapter I, Introduction, p. 53

 
William Stanley Jevons

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How many people ruin themselves by laying out money on trinkets of frivolous utility? What pleases these lovers of toys is not so much the utility, as the aptness of the machines which are fitted to promote it. All their pockets are stuffed with little conveniences. They contrive new pockets, unknown in the clothes of other people, in order to carry a greater number. They walk about loaded with a multitude of baubles, in weight and sometimes in value not inferior to an ordinary Jew's-box, some of which may sometimes be of some little use, but all of which might at all times be very well spared, and of which the whole utility is certainly not worth the fatigue of bearing the burden.

 
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In general the position as regards all such new calculi is this - That one cannot accomplish by them anything that could not be accomplished without them. However, the advantage is, that, provided such a calculus corresponds to the inmost nature of frequent needs, anyone who masters it thoroughly is able - without the unconscious inspiration of genius which no one can command - to solve the respective problems, yea to solve them mechanically in complicated cases in which, without such aid, even genius becomes powerless. Such is the case with the invention of general algebra, with the differential calculus, and in a more limited region with Lagrange's calculus of variations, with my calculus of congruences, and with Mobius's calculus. Such conceptions unite, as it were, into an organic whole countless problems which otherwise would remain isolated and require for their separate solution more or less application of inventive genius.

 
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Possessing utility, commodities derive their exchangeable value from two sources: from their scarcity, and from the quantity of labour required to obtain them.

 
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Thus public works even of doubtful utility may pay for themselves over and over again at a time of severe unemployment, if only from the diminished cost of relief expenditure.

 
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