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
  1. English economist and logician who contributed to the development of the theory of marginal utility (1835-1882)

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