The Theory of Political Economy

William Stanley Jevons: English logician and economist with important contributions and scientific theories in the field of economic sciences. Jevons was born in the English city of "Liverpool" in 1835 AD, and his father worked in the iron ore trade, and he was fond of studying science, and he also wrote sometimes on some economic and legal subjects; Therefore, he was keen to provide the best education for his son since he was young, until he sent him to “London” to receive his university education, but under some financial circumstances he was forced to leave it after two years. After Jevons left university, he traveled to work in Australia; Where he spent nearly five years there, working as a financial analyst, and then returned again to his homeland, where he decided to complete his university studies, to work after graduating in the academic corps; He was a professor at the University of Manchester and London. Jevons contributed to the development of the "value-utility" theory, which sees that the value of any commodity is determined by the benefit that the consumer obtains from this commodity; He worked on developing it into a "marginal utility theory". He also authored several important books in economics that were taught for decades in universities, such as his book "Political Economy", and he is considered one of those who established a new era in the history of economic ideas. Jevons died in 1882.