Frank Knight Quotes

13 Sourced Quotes

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
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
There is no sense in making statements that will not continue to be true after they are made.

Frank Knight
Market competition is the only form of organization which can afford a large measure of freedom to the individual.

Frank Knight
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
Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism

Frank Knight
Even professors of economics, to say nothing of the public, do not generally have scientific minds.

Frank Knight
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
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
All science is static in the sense that it describes the unchanging aspects of things.

Frank Knight
In the long run all producers are forced to use the most efficient methods or give place to others who do.

Frank Knight
Conflicting economic interest is relatively unimportant as a cause of war.

Frank Knight
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