Karl William Kapp Quotes

4 Sourced Quotes

Had there been a computer in 1872... it would probably have predicted that there would be so many horse-drawn vehicles that it would be impossible to clear up all the manure.

Karl William Kapp

To ignore social costs because they require an evaluation by society... and to leave social losses out of account because they are 'external' and 'non-economic' in character, would be equivalent to attributing no or 'zero' value to all social damages which is no less arbitrary and subjective a judgement than any positive or negative evaluation of social costs.

Karl William Kapp

Capitalism must be regarded as an economy of unpaid costs, 'unpaid' in so far as a substantial portion of the actual costs of production remains unaccounted for in entrepreneurial outlays; instead they are shifted to, and ultimately borne by, third persons or by the community as a whole.

Karl William Kapp

Social costs... are all direct and indirect losses sustained by third persons or the general public as a result of unrestrained economic activities.

Karl William Kapp

Karl William Kapp

Karl William Kapp

Born: October 27, 1910

Died: April 4, 1976 (aged 65)

Bio: Karl William Kapp was a German-American economist and professor of economics at the University of the City of New York and later the University of Basel.

Known for:

The Social Costs of Business Enterprise (1963)
Toward a science of man in society (1961)
Social costs of private enterprise (1950)
The humanization of the social sciences

Karl William Kapp on Wikipedia

Suggest an edit or a new quote

American Economist Quotes

Economist Quotes

20th-century Economist Quotes