The concept of need is often looked upon rather unfavorably by economists, in contrast with the concept of demand. Both, however, have their own strengths and weaknesses. The need concept is criticized as being too mechanical, as denying the autonomy and individuality of the human person, and as implying that the human being is a machine which "needs" fuel in the shape of food, engine dope in the shape of medicine, and spare parts provided by the surgeon.

Deciding under uncertainty is bad enough, but deciding under an illusion of certainty is catastrophic.

There is something, however humble, which can properly be called skill among those who recognise themselves as economists.

Human artifacts not only include material structures and objects, such as buildings, machines, and automobiles, but they also include organizations, organizational structures like extended families . . . tribes, nations, corporations, churches, political parties, governments, and so on. Some of these may grow unconsciously, but they all originate and are sustained by the images in the human mind.

Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man?

Production functions involving only land, labor and capital... never work and never explain economic development.

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.