The use of isoquants to describe the production function did not develop to any great extent until the thirties.
Kenneth E. BouldingAny attempt to reduce the complex properties of biological organisms or of nervous systems or of human brains to simple physical and chemical systems is foolish.
Kenneth E. BouldingThe 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. BouldingThe 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[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. BouldingAs far as many statistical series that are related to activities of mankind are concerned, the date that divides human history into two equal parts is well within living memory. The world of today is as different from the world I was born in as that world was from Julius Caesar s. I was born in the middle of human history, to date, roughly. Almost as much has happened since I was born as happened before.
Kenneth E. Boulding