[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 World is a very complex system. It is easy to have too simple a view of it, and it is easy to do harm and to make things worse under the impulse to do good and make things better.

Physicists can only talk to other physicists and economists to economists... sociologists often cannot even understand each other.

Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole house or nothing at all. In so laying down its life welfare economics may be able to contribute some of its insights and analytical methods to a much broader evaluative analysis of the whole social process.

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

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.

What exists, is possible.