![[We may view the] economic organization as a system of prize relations. Seen in the large, free enterprise is an organization of production and distribution in which individuals or family units get their real income, their "living," by selling productive power for money to "business units" or "enterprises", and buying with the money income thus obtained the direct goods and services which they consume. This view, it will be remembered, ignores for the sake of simplicity the fact that an appreciable fraction of the productive power in use at any time is not really employed in satisfying current wants but to make provision for increased want-satisfaction in the future; it treats society as it would be, or would tend to become, with progress absent, or in a "static” state. (Frank Knight)](https://cdn.quotesdtb.com/img/quotes_images_webp/24/frank-knight-absent-business-426924.webp)
[We may view the] economic organization as a system of prize relations. Seen in the large, free enterprise is an organization of production and distribution in which individuals or family units get their real income, their "living," by selling productive power for money to "business units" or "enterprises", and buying with the money income thus obtained the direct goods and services which they consume. This view, it will be remembered, ignores for the sake of simplicity the fact that an appreciable fraction of the productive power in use at any time is not really employed in satisfying current wants but to make provision for increased want-satisfaction in the future; it treats society as it would be, or would tend to become, with progress absent, or in a "static” state.
Frank KnightRelated topics
absent business buying current direct distribution enterprise fact family fraction free future goods income large living money organization power prize production progress provision real sake seen selling simplicity society state static system thus time use view relations servicesRelated quotes
Traditionally, economic analysis treats the economic system as one of the givens. The term "design" in the title is meant to stress that the structure of the economic system is to be regarded as an unknown. An unknown in what problem? Typically that of finding a system that would be, in a sense to be specified, superior to the existing one. The idea of searching for a better system is at least as ancient as Plato's Republic, but it is only recently that tools have become available for a systematic, analytical approach to such search procedures. This new approach refuses to accept the institutional status quo of a particular time and place as the only legitimate object of interest and yet recognizes constraints that disqualify naive Utopias.
Leonid Hurwicz
The professional administrators - especially those at higher levels - serve key roles at the boundary of the organization, between the professionals inside and interested parties - governments, client associations, and so on - on the outside. On the one hand, the administrators are expected to protect the professionals' autonomy, to "buffer" them from external pressures. On the other hand, the administrators are expected to woo these outsiders to support the organization, both morally and financially. Thus, the external roles of the manager-maintaining liaison contacts, acting as figurehead and spokesman in a public relations capacity, negotiating with outside agencies-emerge as primary ones in professional administration.
Henry Mintzberg
It is one of the most beautiful characteristics of Theosophy that it gives back to people in a more rational form everything which was really useful and helpful to them in the religions which they have outgrown... in this teaching as to the immortality of the soul and the life after death, Theosophy...does not put forward these great truths merely on the authority of some sacred book of long ago; in speaking of these subjects it is not dealing with pious opinions, or metaphysical speculations, but with solid, definite facts, as real and as close to us as the air we breathe or the houses we live in - facts of which many among us have constant experience - facts among which lies the daily work of some of our students, as will presently be seen.
Charles Webster Leadbeater
Broadly, the proposition holds that all economic systems known to us up to the end of feudalism in Western Europe were organized either on the principle of reciprocity or redistribution, or householding, or some combination of the three. These principles were institutionalized with the help of a social organization which, inter alia, made use of the patterns of symmetry, centricity, and autarchy. In this framework, the orderly production and distribution of goods was secured through a great variety of individual motives disciplined by general principles of behavior. Among these motives gain was not prominent. Custom and law, magic and religion cooperated in inducing the individual to comply with rules of behavior which, eventually, ensured his functioning in the economic system.
Karl Polanyi
It would be helpful if a plan could be adopted which, while retaining the practice of systematic collective bargaining with conciliation voluntary arbitration of labor differences, could also provide simplicity in relations and more direct local responsibility of employees and managers. But such legislation will not meet the requirements of the situation unless it recognizes the principle that t e public has a right to the uninterrupted service of transportation, and therefore a right to be heard when there is danger that the Nation may suffer great injury through the interruption of operations because of labor disputes. If these elements are not comprehended in proposed legislation, it would be better to gain further experience with the present organization for dealing with these questions before undertaking a change.
Calvin Coolidge
