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Frank Knight Quotes
Frank Knight Quotes
Frank Knight
American
Economist
Born:
Nov 7
,
1885
Died:
Apr 15
,
1972
Be True
Methods
Rest
Science
Sense
Will
Related authors:
Alan Greenspan
Herbert A. Simon
John Kenneth Galbraith
Milton Friedman
Paul A. Volcker
Richard Thaler
Robert Reich
Thomas Sowell
There is no sense in making statements that will not continue to be true after they are made.
Frank Knight
Will
Made
Be True
Sense
Statements
No Sense
True
Making
Continue
After
The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past.
Frank Knight
Future
Saying
Respect
Will
Past
Same Thing
Preserves
Assumption
Possibility
About
Rests
Identity
Behave
Same
Situations
Anything
Thing
All science is static in the sense that it describes the unchanging aspects of things.
Frank Knight
Science
Sense
Static
Unchanging
Aspects
Things
Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest.
Frank Knight
Rest
Differences
Response
Obliterate
Higher
Price
Tending
Points
Come
Goods
Move
Difference
Movement
Low
It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which bring them about, and finally to come to rest.
Frank Knight
Science
Rest
Changes
Finally
About
Tend
Exception
Neutralize
Studied
True
Come
Practically
Forces
Without
Altogether
Any
Which
Them
Bring
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