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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

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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
Time
Investment
Investments
Period
Obtain
Rate
Represents
Periods
Alternative
Cost
Occupation
Question
Alternatives
Discounting
Interest
Capital
Presumably
Done
Entrepreneur
Employing

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The trouble with taxonomic boxes is... that that they tend to be empty, however beautiful they are on the outside.
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Economists and technologists bring the bits, but it requires the social scientists and humanists to bring the wits.
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The organization of science into disciplines sets up a series of ghettos with remarkable distances of artificial social space between them.
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The economy of the future might be called the spaceman economy, in which the earth has become a single spaceship, without unlimited reservoirs of anything.
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Economic problems have no sharp edges. They shade off imperceptibly into politics, sociology, and ethics. Indeed, it is hardly an exaggeration to say that the ultimate answer to every economic problem lies in some other field.
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Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man?
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The World is a very complex system. It is easy to have too simple a view of it, and it is easy to do harm and to make things worse under the impulse to do good and make things better.
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Economists are like computers. They need to have facts punched into them.
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Even personal tastes are learned, in the matrix of a culture or a subculture in which we grow up, by very much the same kind of process by which we learn our common values. Purely personal tastes, indeed, can only survive in a culture which tolerates them, that is, which has a common value that private tastes of certain kinds should be allowed.
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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.
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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?
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The tourist business is a trap, it is a tained honey Man clearly should have stayed in bed, and not invented money.
Kenneth E. Boulding
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[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
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[The integrative system] deals with such matters as respect, legitimacy, community, friendship, affection, love, and of course their opposites, across a broad scale of human relationships and interactions.
Kenneth E. Boulding
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Humble, honest, ignorance is one of the finest flowers of the human spirit
Kenneth E. Boulding
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The perception of potential threats to survival may be much more important in determining behavior than the perceptions of potential profits, so that profit maximization is not really the driving force. It is fear of loss rather than hope of gain that limits our behavior.
Kenneth E. Boulding
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The human condition can almost be summed up in the observation that, whereas all experiences are of the past, all decisions are about the future. It is the great task of human knowledge to bridge this gap and to find those patterns in the past which can be projected into the future as realistic images.
Kenneth E. Boulding
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All knowledge is gained through an orderly loss of information.
Kenneth E. Boulding
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The future is bound to surprise us, but we don't have to be dumbfounded.
Kenneth E. Boulding
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We never like to admit to ourselves that we have made a mistake. Organizational structures tend to accentuate this source of failure of information.
Kenneth E. Boulding