William Stanley Jevons
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Definition
Proper noun: - William Stanley Jevons: An English economist and logician. He is a significant figure in the history of economic thought, known for his contributions to the development of the theory of marginal utility, which is a cornerstone of neoclassical economics. He also made important contributions to the field of logic and the study of business cycles.
Usage Examples
- Proper noun:
- The economic theories of William Stanley Jevons helped shape modern microeconomics.
- In his book The Theory of Political Economy, William Stanley Jevons introduced his formulation of marginal utility.
- Historians of science study William Stanley Jevons for his work on logic and scientific method.
Advanced Usage
- "Jevons paradox": An economic concept named after William Stanley Jevons. It posits that technological progress that increases the efficiency of using a resource can lead to an in the overall consumption of that resource, rather than a decrease.
- The Jevons paradox suggests that more fuel-efficient engines could lead to greater total fuel use.
Variants and Related Words
- Jevonian (adj): Pertaining to William Stanley Jevons or his economic theories.
- The Jevonian approach to utility differed from that of the classical school.
Synonyms
- Jevons: A common shorthand reference to the economist.
- W. S. Jevons: A standard abbreviated form of his name.
Related Concepts
- Marginal utility: The additional satisfaction or benefit gained from consuming one more unit of a good or service, a concept he helped pioneer.
- Neoclassical economics: The school of economic thought to which Jevons is considered a founding contributor, alongside Carl Menger and Léon Walras.
Noun
- English economist and logician who contributed to the development of the theory of marginal utility (1835-1882)