The main problem of economics Jevons seen in the study of consumption, whom he regarded as the fundamental law of the law of diminishing utility. He was one of the first to attempt to apply mathematical tools to economic analysis.

William Stanley Jevons was born on September 1 in 1835 in Liverpool (UK). He studied at University College London, where he studied chemistry and metallurgy, but due to the difficult financial situation of the family was unable to complete her education. At age 19, he left England and entered the service assayer at the Australian Mint in Sydney. His duties left enough time to study meteorology, the problems of railway transport, economics, collection of statistical material and serious passion for photography.

In Australia Jevons spent five years, after which he returned to London to complete a university education. However, this time he chose the economy. In 1862, Jevons is the first time the British Association of two of his works — short abstract "On a general mathematical theory of political economy." In them, he briefly outlines the main content of the future "Theory of Political Economy." Works great success had no effect. A much greater fame brought him to work on practical issues devoted to the price of gold (1863) and "Coal Question" (1865).

From 1863 to 1876 he taught Jevons in Manchester, and from 1876 to 1880 years — at University College London. In 1871 and 1874, respectively, are published his most famous book, "Theory of Political Economy" and "Principles of Science — a treatise on logic and scientific methodÂ».

In the preface to the "Theory of Political Economy" Jevons formulates his famous thesis — "Our science must be mathematical, if only because it has to do with quantities." Although economic dependence can be described in words, but the language of mathematics is more accurate and easier to read. His theory of Jevons describes as "the mechanics of utility and self-interestÂ».

William Stanley Jevons died 13 August in 1882 at the age of 46 in Hastings (UK).