If the society toward which we are developing is not to be a nightmare of exhaustion, we must use the interlude of the present era to develop a new technology which is based on a circular flow of materials such that the only sources of man's provisions will be his own waste products.
Kenneth E. BouldingIt is much more accurate to identify the factors of production as know-how (that is genetic information structure), energy, and materials, for, as we have seen, all processes of production involve the direction of energy by some know-how structure toward the selection, transportation, and transformation of materials into the product
Kenneth E. BouldingIn view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.
Kenneth E. BouldingJustification, in terms of the broadening of freedom, for any particular form of institution of property must be argued in terms of whether the losses caused by the restrictions imposed are greater or less than the gains derived from the elimination of costly conflict.
Kenneth E. BouldingIt is almost as hard to define mathematics as it is to define economics, and one is tempted to fall back on the famous old definition attributed to Jacob Viner, "Economics is what economists do," and say that mathematics is what mathematicians do. A large part of mathematics deals with the formal relations of quantities or numbers.
Kenneth E. Boulding