Because of his capacity for abstract communications and language and his ability to enter in imagination into the lives of others, man is able to build organizations of a size and complexity far beyond those of the lower animals.
The troubles of the 20th century are not unlike those of adolescence -- rapid growth beyond the ability of organizations to manage, uncontrollable emotion, and a desperate search for identity. Out of adolescence, however, comes maturity in which physical growth with all its attendant difficulties comes to an end, but in which growth continues in knowledge, in spirit, in community, and in love; it is to this that we look forward as a human race. This goal, once seen with our eyes, will draw our faltering feet toward it.
Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may well be that the slovenly and literary borderland between economics and sociology will be the most fruitful building ground during the years to come and that mathematical economics will remain too flawless in its perfection to be very fruitful.
Political conflict rests to a very large extent on a universal ignorance of consequences, as the people who are benefited by any particular act or policy are rarely those who struggled for it, and the people who are injured are rarely those who opposed it.
Humble, honest, ignorance is one of the finest flowers of the human spirit
Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man?
General Systems Theory is a name which has come into use to describe a level of theoretical model-building which lies somewhere between the highly generalized constructions of pure mathematics and the specific theories of the specialized disciplines. Mathematics attempts to organize highly general relationships into a coherent system, a system however which does not have any necessary connections with the "real" world around us. It studies all thinkable relationships abstracted from any concrete situation or body of empirical knowledge.
There are, of course, a number of epistemological questions, some of which lie more in the province of the philosopher than they do the economist or the social scientist. The one with which I am particularly concerned here is that of the role of knowledge in social systems, both as a product of the past and as a determinant of the future.
The very act of thinking about power in our lives and experiences creates a process of revelation and self-analysis that may even make us look at ourselves in a new light... thinking about power and its complex manifestations may not simply lead to a better understanding of the abstract complexities of society, but may have an effect on one?s own image and identity. Perhaps a warning label should be placed on the cover.
In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.
Knowledge exists in minds, not in books. Before what has been found can be used by practitioners, someone must organize it, integrate it, extract the message.
One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.
Economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.
In any evolutionary process, even in the arts, the search for novelty becomes corrupting.
The evolutionary vision is agnostic in regard to systems in the universe of greater complexity than those of which human beings have clear knowledge.
Reality, in its quantitative aspect, must be considered as a system of populations... The general study of the equilibria and dynamics of populations seems to have no name; but as it has probably reached its highest development in the biological study known as 'ecology,' this name may well be given to it.
At the opposite pole from the gift is tribute - that is, a grant made out of fear and under threat. A threat is a statement of the form "you do something that I want or I will do something that you do not want.
The use of isoquants to describe the production function did not develop to any great extent until the thirties.
The organizer who creates roles, who creates the holes that will force the pegs to their shape, is a prime creator of personality itself. When we ask of a man, "What is he?" the answer is usually given in terms of his major role, job, or position in society; he is the place that he fills, a painter, a priest, a politician, a criminal.
[In science any model depends on a pre-chosen taxonomy] a set of classifications into which we divide the enormous complexity of the real world... Land, labor, and capital are extremely heterogeneous aggregates, not much better than earth, air, fire, and water.
Any attempt to reduce the complex properties of biological organisms or of nervous systems or of human brains to simple physical and chemical systems is foolish.
I have been gradually coming under the conviction, disturbing for a professional theorist, that there is no such thing as economics - there is only social science applied to economic problems.
[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more relevant to economic decisions.
The discounting presumably is to be done for each period of time at that rate of interest which represents the alternative cost of employing capital in the occupation in question; that is, at the rate which the entrepreneur could obtain in other investments
The process of consumption is the final act in the economic drama.
Follow AzQuotes on Facebook, Twitter and Google+. Every day we present the best quotes! Improve yourself, find your inspiration, share with friends
or simply: