Deciding under uncertainty is bad enough, but deciding under an illusion of certainty is catastrophic.

The organization of science into disciplines sets up a series of ghettos with remarkable distances of artificial social space between them.

I have been gradually coming under the conviction, disturbing for a professional theorist, that there is no such thing as economics - there is only social science applied to economic problems.

[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.

The world moves into the future as a result of decisions, not as a result of plans. Plans are significant only insofar as they affect decisions.

Conflict may be defined as a situation of competition in which the parties are aware of the incompatibility of potential future positions, and in which each party wishes to occupy a position that is incompatible with the wishes of the other.

[The consumer is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed.