But the system of prices ruling the market not only transmits information in the light of which economic agents can mutually adjust their actions, it also provides them with an incentive to exercise economy in terms of money.
Michael PolanyiAnd the actual achievements of biology are explanations in terms of mechanisms founded on physics and chemistry, which is not the same thing as explanations in terms of physics and chemistry.
Michael PolanyiThe information in DNA could no more be reduced to the chemical than could the ideas in a book be reduced to the ink and paper: something beyond physics and chemistry encoded DNA.
Michael PolanyiAdmittedly, the body of scientists, as a whole, does uphold the authority of science over the lay public. It controls thereby also the process by which young men are trained to become members of the scientific profession.
Michael PolanyiWe cannot ultimately specify the grounds (either metaphysical or logical or empirical) upon which we hold that our knowledge is true. Being committed to such grounds, dwelling in them, we are projecting ourselves to what we believe to be true from or through these grounds. We cannot therefore see what they are. We cannot look at them because we are looking with them.
Michael Polanyi