Production functions involving only land, labor and capital... never work and never explain economic development.
Kenneth E. Boulding[There will be movement toward] behavioral economics... [which] involves study of those aspects of men's images, or cognitive and affective structures that are more relevant to economic decisions.
Kenneth E. BouldingConsumption is the death of capital, and the only valid arguments in favor of consumption are arguments in favor of death itself.
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. Boulding