[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.

The only religion that still demands human sacrifice is nationalism.

[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.

The social system tends to be dominated by images... especially of the future, which act cybernetically, constantly guided by perceived divergences between the real and the ideal.

The controversy as to whether socialism is possible has been settled by the fact that it exists, and it is a fundamental axiom of my philosophy, at any rate, that anything that exists, is possible.

[on the theory of the firm] It is exactly analogous to the analysis of the reactions of a consumer by means of indifferent curves. Indeed, a consumer is merely a 'firm' whose product is 'utility.'

Conflict may be defined as a situation of competition in which the parties are aware of the incompatibility of potential future positions, and in which each party wishes to occupy a position that is incompatible with the wishes of the other.