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

One advantage of exhibiting a hierarchy of systems in this way is that it gives us some idea of the present gaps in both theoretical and empirical knowledge. Adequate theoretical models extend up to about the fourth level, and not much beyond. Empirical knowledge is deficient at practically all levels.

In 1859 the human race discovered a huge treasure chest in its basement. This was oil and gas, a fantastically cheap and easily available source of energy. We did, or at least some of us did, what anybody does who discovers a treasure in the basement - live it up, and we have been spending this treasure with great enjoyment

[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.'

There is no such thing as economics, only social science applied to economic problems.

Consumption is the death of capital, and the only valid arguments in favor of consumption are arguments in favor of death itself.

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.