Portrait of William Stanley Jevons

William Stanley Jevons

1835 – 1882

Jevons was born in Liverpool, England and studied chemistry and botany at University College, London before taking up the position of assayer at the Mint in Sydney, Australia. He was later appointed to the post of chair in political economy at his alma mater and retired from there in 1880. He is one of three economists (along with Walras and Menger) who came up with a theory of marginal utility in 1871, thus transforming our understanding the theory of value.

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