The illusion that consumption - and its correlative, income - is desirable probably stems from too great preoccupation with what Knight calls "one-use goods," such as food and fuel, where the utilization and consumption of the good are tightly bound together in a single act or event. ... any economy in the consumption of fuel that enables us to maintain warmth or to generate power with lessened consumption again leaves us better off. ... there is no great value in consumption itself.
Kenneth E. BouldingOne of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.
Kenneth E. BouldingThe human experience can almost be summed up in the observation that, whereas all decisions are of the past, all decisions are about the future. The image of the future, therefore, is the key to all choice-oriented behavior. The character and quality of the images of the future which prevail in a society is therefore the most important clue to its overall dynamics.
Kenneth E. BouldingWith laissez-faire and price atomic, ecology's uneconomic, But with another kind of logic economy's unecologic.
Kenneth E. Boulding[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