The process of consumption is the final act in the economic drama.

The world moves into the future as a result of decisions, not as a result of plans. Plans are significant only insofar as they affect decisions.

A second possible approach to general systems theory is through the arrangement of theoretical systems and constructs in a hierarchy of complexity, roughly corresponding to the complexity of the "individuals" of the various empirical fields... leading towards a "system of systems." [...] I suggest below a possible arrangement of "levels" of theoretical discourse...(vi) [...] the "animal" level, characterized by increased mobility, teleological behavior and self-awareness...

The 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

Perhaps the most difficult ethical problem of the scientific community arises not so much from conflict with other subcultures as from its own success. Nothing fails like success because we don't learn from it. We learn only from failure.

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.

[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.