Jevons, William Stanley (1835-1882), a British economist, was one of the first to formulate the economic theory of marginal utility. In this theory, price is related to scarcity as well as to practical value. Jevons’s books include Lessons in Logic (1870), Theory of Political Economy (1871), and Money and the Mechanism of Exchange (1875).
Jevons was born in Liverpool, England, on Sept. 1, 1835. He was educated at University College, London, where he later held the post of professor of political economy. He died on Aug. 13, 1882.
See also Economics.
