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

In any evolutionary process, even in the arts, the search for novelty becomes corrupting.

In 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.

We are born to love, as we are born to breathe and eat and drink.

Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods.

One reason why the progressive state is 'cheerful' is that social conflict is diminished by it.

The very act of thinking about power in our lives and experiences creates a process of revelation and self-analysis that may even make us look at ourselves in a new light... thinking about power and its complex manifestations may not simply lead to a better understanding of the abstract complexities of society, but may have an effect on one?s own image and identity. Perhaps a warning label should be placed on the cover.