Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change. — Frank Knight Copy Share Image
The probability of the people in power being individuals who would dislike the possession and exercise of power is on a level with the probability that an extremely tender-hearted person would get the job of whipping-master in a slave plantation. — Frank Knight Copy Share Image
The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing… — Frank Knight Copy Share Image
The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant. — Frank Knight Copy Share Image
...even professors of economics, to say nothing of the public, do not generally have scientific minds. — Frank Knight Copy Share Image
Market competition is the only form of organization which can afford a large measure of freedom to the individual. — Frank Knight Copy Share Image
All science is static in the sense that it describes the unchanging aspects of things. — Frank Knight Copy Share Image
In the long run all producers are forced to use the most efficient methods or give place to others who do. — Frank Knight Copy Share Image
It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which… — Frank Knight Copy Share Image
Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism — Frank Knight Copy Share Image
I have been…moved to wonder whether my job is a job or a racket, whether economists, and particularly economic theorists, may not be in… — Frank Knight Copy Share Image
There is no sense in making statements that will not continue to be true after they are made. — Frank Knight Copy Share Image
