Blades Quote by Alfred Marshall
“We might as well reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.”
About This Quote
Source Book: Principles of Economics, 1890
It questions whether the cutting edge is the upper or lower blade, just as value can be seen as driven by demand or supply.
In simple terms: Value can be seen as demand or supply, like which blade cuts paper.
Key Takeaway
Consider both demand and supply when assessing value.
Themes
economics
value
supply
demand
Mood
analytical
thoughtful
Type
economic
theoretical
When to use this quote
- business strategy
- investment decisions
- policy analysis
Key Concepts
Market theory
price determination
Questions to Reflect On
- How does focusing on one side limit understanding?
- Can both demand and supply be equally important?
A Different Perspective
Demand and supply are interdependent, not mutually exclusive.
