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