Frank Knight Quotes

• Never waste any time you can spend sleeping.

  Frank Knight

  Sleep, Waste, Time Management

  50 Copy quote

• Market competition is the only form of organization which can afford a large measure of freedom to the individual.

  Frank Knight

  Organization, Competition, Individuality

  12 Copy quote

• 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

  Jobs, Exercise, People

  11 Copy quote

• We have to adapt and overcome, that's all we can do.

  Frank Knight

  Overcoming, Can Do

  7 Copy quote

• 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

  Education, Knowledge, Learning

  Frank H. Knight (2012). “Risk, Uncertainty and Profit”, p.243, Courier Corporation

  12 Copy quote

• In the long run all producers are forced to use the most efficient methods or give place to others who do.

  Frank Knight

  Running, Long, Giving

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.191, Transaction Publishers

  14 Copy quote

• Costs merely register competing attractions.

  Frank Knight

  Risk, Cost, Competing

  Frank H. Knight (2012). “Risk, Uncertainty and Profit”, p.159, Courier Corporation

  9 Copy quote

• 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

  Past, Swag, Identity

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.179, Transaction Publishers

  10 Copy quote

• There is no sense in making statements that will not continue to be true after they are made.

  Frank Knight

  Philosophy, Political, Economics

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.178, Transaction Publishers

  9 Copy quote

• Always history is being made; opinions attitudes and institutions change, and there is evolution in the nature of capitalism

  Frank Knight

  Attitude, Opinion, Evolution

  Frank H. Knight, Ross B. Emmett (1999). “Selected Essays by Frank H. Knight, Volume 1: "What is Truth" in Economics?”, University of Chicago Press

  4 Copy quote

• Sociology isthescience of talk, and there is onlyone law in sociology. Bad talk drives out good.

  Frank Knight

  Law, Sociology

  11 Copy quote

• Large scale collective bargaining . . . is merely a seductive name for bilateral monopoly, and means either adjudication of conflicts in terms of power, or deadlock and stoppage, usually injuring outside people more than the immediate parties to the dispute.

  Frank Knight

  Party, Mean, Names

  10 Copy quote

• All science is static in the sense that it describes the unchanging aspects of things.

  Frank Knight

  Unchanging, Static, Aspect

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.178, Transaction Publishers

  8 Copy quote

• 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 the position that Cicero, citing Cato, ascribed to the augurs of Rome-that they should cover their faces or burst into laugher when they met on the street.

  Frank Knight

  Jobs, Rome, May

  9 Copy quote

• The truth seems . . . to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.

  Frank Knight

  Truth, Essentials, Problem

  Frank H. Knight, Ross B. Emmett (1999). “Selected Essays by Frank H. Knight, Volume 2: Laissez Faire: Pro and Con”, p.83, University of Chicago Press

  9 Copy quote

• Conflicting economic interest is relatively unimportant as a cause of war.

  Frank Knight

  War, Causes, Conflict

  Frank H. Knight, Ross B. Emmett (1999). “Selected Essays by Frank H. Knight, Volume 2: Laissez Faire: Pro and Con”, p.297, University of Chicago Press

  5 Copy quote

• One-third of your plays are special teams, so to block a punt and get good field position out of it and score was big.

  Frank Knight

  Team, Block, Play

  4 Copy quote

• If all properly economic problems were solved once for all . . . the social struggle and strife would . . . [not necessarily] be reduced in amount or intensity . . . in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.

  Frank Knight

  Struggle, Mean, Revolution

  Frank Hyneman Knight, Hubert Bonner (1947). “Freedom and reform: essays in economics and social philosophy”

  4 Copy quote

• 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

  Philosophy, Moving, Differences

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.180, Transaction Publishers

  7 Copy quote

• 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

  Force, Exception, Ifs

  Frank Hyneman Knight (1997). “The Ethics of Competition”, p.179, Transaction Publishers

  7 Copy quote

• ...even professors of economics, to say nothing of the public, do not generally have scientific minds.

  Frank Knight

  Mind, Economics, Professors

  Frank H. Knight (2012). “Risk, Uncertainty and Profit”, p.24, Courier Corporation

  4 Copy quote

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