Quotes by Frank Knight - Page 1

Costs merely register competing attractions.
Frank Knight / Economist
Competing
Cost
Risk
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Never waste any time you can spend sleeping.
Frank Knight / Economist
Sleep
Time Management
Waste
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We have to adapt and overcome, that's all we can do.
Frank Knight / Economist
Can Do
Overcoming
Adapt
Overcome
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Conflicting economic interest is relatively unimportant as a cause of war.
Frank Knight / Economist
War
Causes
Conflict
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All science is static in the sense that it describes the unchanging aspects of things.
Frank Knight / Economist
Aspect
Static
Unchanging
Aspects
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There is no sense in making statements that will not continue to be true after they are made.
Frank Knight / Economist
Economics
Philosophy
Political
Statements
Be True
No Sense
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Sociology isthescience of talk, and there is onlyone law in sociology. Bad talk drives out good.
Frank Knight / Economist
Law
Sociology
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...even professors of economics, to say nothing of the public, do not generally have scientific minds.
Frank Knight / Economist
Economics
Mind
Professors
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In the long run all producers are forced to use the most efficient methods or give place to others who do.
Frank Knight / Economist
Running
Efficient
Giving
Long
Producers
Run
Forced
Long Run
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Market competition is the only form of organization which can afford a large measure of freedom to the individual.
Frank Knight / Economist
Competition
Individuality
Organization
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One-third of your plays are special teams, so to block a punt and get good field position out of it and score was big.
Frank Knight / Economist
Block
Play
Team
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Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism
Frank Knight / Economist
Attitude
Evolution
Opinion
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The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.
Frank Knight / Economist
Truth
Essentials
Problem
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Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.
Frank Knight / Economist
Differences
Goods
Higher
Movement
Moving
Philosophy
Response
Low
Obliterate
Price
Tending
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Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.
Frank Knight / Economist
Education
Knowledge
Learning
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It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which bring them about, and finally to come to rest.
Frank Knight / Economist
Exception
Force
Ifs
Altogether
Finally
Forces
Practically
Neutralize
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The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past.
Frank Knight / Economist
Respect
Assumption
Behave
Identity
Past
Possibility
Preserves
Swag
Future Respect Past
Rests
Same Thing
Saying
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The probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an extremely tender-hearted person would get the job of whipping-master in a slave plantation.
Frank Knight / Economist
Jobs
Exercise
People
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Large scale collective bargaining . . . is merely a seductive name for bilateral monopoly, and means either adjudication of conflicts in terms of power, or deadlock and stoppage, usually injuring outside people more than the immediate parties to the dispute.
Frank Knight / Economist
Mean
Names
Party
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If all properly economic problems were solved once for all . . . the social struggle and strife would . . . [not necessarily] be reduced in amount or intensity . . . in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.
Frank Knight / Economist
Mean
Revolution
Struggle
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I have been....moved to wonder whether my job is a job or a racket, whether economists, and particularly economic theorists, may not be in the position that Cicero, citing Cato, ascribed to the augurs of Rome-that they should cover their faces or burst into laugher when they met on the street.
Frank Knight / Economist
Jobs
May
Rome
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Frank Knight Quotes - Page 1

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