Economics, we learn in the history of thought, only became a science by escaping from the casuistry and moralizing of medieval thought.

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

Every culture, or subculture, is defined by a set of common values, that is, generally agreed upon preferences. Without a core of common values a culture cannot exist, and we classify society into cultures and subcultures precisely because it is possible to identify groups who have common values.

It is clear that the building of models is not a purely mechanical process but requires skill of a high order - not merely mathematical skill but a sensitivity to the relative importance of different factors and a critical, almost an artistic, faculty in the selection of behaviour equations which are reasonable, tentative hypotheses in explaining the behaviour of actual economies.

Theories without facts may be barren, but facts without theories are meaningless.

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.

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.