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Mathematics brought rigor to Economics. Unfortunately, it also brought mortis.
Kenneth E. Boulding
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Kenneth E. Boulding
Age: 83 †
Born: 1910
Born: January 18
Died: 1993
Died: March 18
Author
Economist
Philosopher
Poet
University Teacher
City of Liverpool
Kenneth Ewart Boulding
Mortis
Rigor
Unfortunately
Economics
Mathematics
Brought
Also
More quotes by Kenneth E. Boulding
[The notion of equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of the toolbag of the economist and one which he can often contribute usefully to other sciences which are occasionally apt to get lost in the trackless exfoliations of purely dynamic systems.
Kenneth E. Boulding
[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.
Kenneth E. Boulding
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.
Kenneth E. Boulding
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
Kenneth E. Boulding
[The consumer is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed.
Kenneth E. Boulding
In any evolutionary process, even in the arts, the search for novelty becomes corrupting.
Kenneth E. Boulding
[The loss-of-strength gradient is] the degree to which military and political power diminishes as we move a unit distance away from its home base.
Kenneth E. Boulding
All knowledge is gained through an orderly loss of information.
Kenneth E. Boulding
... the fouling of the nest which has been typical of man's activity in the past on a local scale now seems to be extending to the whole world society.
Kenneth E. Boulding
Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.
Kenneth E. Boulding
Mathematicians themselves set up standards of generality and elegance in their exposition which are a bar to understand.
Kenneth E. Boulding
[The historical] development in the international system may almost be defined as the process by which we pass from stable war to stable peace.
Kenneth E. Boulding
The controversy as to whether socialism is possible has been settled by the fact that it exists, and it is a fundamental axiom of my philosophy, at any rate, that anything that exists, is possible.
Kenneth E. Boulding
[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.
Kenneth E. Boulding
Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man?
Kenneth E. Boulding
The most fundamental form of integrative power is the power of love.
Kenneth E. Boulding
The future is bound to surprise us, but we don't have to be dumbfounded.
Kenneth E. Boulding
One advantage of exhibiting a hierarchy of systems in this way is that it gives us some idea of the present gaps in both theoretical and empirical knowledge. Adequate theoretical models extend up to about the fourth level, and not much beyond. Empirical knowledge is deficient at practically all levels.
Kenneth E. Boulding
Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man? ... Does man have any responsibility for the preservation of a decent balance in nature, for the preservation of rare species, or even for the indefinite continuance of his race?
Kenneth E. Boulding
If a totally new image is to come into being however, there must be sensitivity to internal messages, the image itself must be sensitive to change, must be unstable, and it must include a value image which places high value on trials, experiments, and the trying of new things.
Kenneth E. Boulding
