Nothing fails like success, because we do not learn anything from it. We only learn from failure, but we do not always learn the right things from failure. If there is a failure of expectations, that is, if the messages that we receive are not the same as those we expected, we can make three possible inferences.
Kenneth E. BouldingThe greater the penalties laid on sellers in the black market... the higher the black market price.
Kenneth E. BouldingThe troubles of the 20th century are not unlike those of adolescence -- rapid growth beyond the ability of organizations to manage, uncontrollable emotion, and a desperate search for identity. Out of adolescence, however, comes maturity in which physical growth with all its attendant difficulties comes to an end, but in which growth continues in knowledge, in spirit, in community, and in love; it is to this that we look forward as a human race. This goal, once seen with our eyes, will draw our faltering feet toward it.
Kenneth E. BouldingThere is something, however humble, which can properly be called skill among those who recognise themselves as economists.
Kenneth E. BouldingIt [knowledge] is clearly related to information, which we can now measure; and an economist especially is tempted to regard knowledge as a kind of capital structure, corresponding to information as an income flow. Knowledge, that is to say, is some kind of improbable structure or stock made up essentially of patterns - that is, improbable arrangements, and the more improbable the arrangements, we might suppose, the more knowledge there is.
Kenneth E. BouldingAnyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.
Kenneth E. BouldingI shall argue that it is the capital stock from which we derive satisfaction, not from the additions to it (production) or the subtractions from it (consumption): that consumption, far from being a desideratum, is a deplorable property of the capital stock which necessitates the equally deplorable activity of production: and that the objective of economic policy should not be to maximize consumption or production, but rather to minimize it, i.e. to enable us to maintain our capital stock with as little consumption or production as possible.
Kenneth E. Boulding