Since I shall be indicating my disagreement with some of the points made by Professor Israel Kirzner, let me stress that I am in complete sympathy with his point of departure, namely, the emphasis on the dispersion of information among economic decision-making units (called by him, "Hayek's knowledge problem") and the consequent problem of transmission of information among those units. Much of my own research work since the 1950s has been focused on issues in welfare economics viewed from an informational perspective. The ideas of Hayek (whose classes at the London School of Economics I attended during the academic year 1938-39) have played a major role in influencing my thinking and have been so acknowledged.
Leonid HurwiczRelated topics
academic complete consequent departure disagreement dispersion economics emphasis influencing information knowledge london major perspective point problem professor research role school stress sympathy thinking transmission welfare work year 1950s decision-making hayek israel pointsRelated quotes
I foresee a universal information system (UIS), which will give everyone access at any given moment to the contents of any book that has ever been published or any magazine or any fact. The UIS will have individual miniature-computer terminals, central control points for the flood of information, and communication channels incorporating thousands of artificial communications from satellites, cables, and laser lines. Even the partial realization of the UIS will profoundly affect every person, his leisure activities, and his intellectual and artistic development. ... But the true historic role of the UIS will be to break down the barriers to the exchange of information among countries and people.
Andrei Sakharov
Only a book written by the God who knows the end from the beginning could predict the future with one hundred percent accuracy. The God of the Bible (unlike all other "gods”) is not limited by time, space, or matter. He created all of those on Day One and is "above” and "outside of” and "not limited by” His creation in any way. We are the ones who are limited by time, space, and matter, not God. The fact that He knows the future does not mean that He controls the future and we are robots acting out a pre-programmed set of instructions. He has complete knowledge, yet we have complete control at all times. He could step in and control everything, but then we would be robots and not humans. It is called Free Will. That's a gift God gave to mankind.
Kent Hovind
The origin of this research was an attempt to extend Cassel's system of equations of price determination in one market to that of several trading countries. Although the point of departure is totally different, the results of that attempt (presented in chapter III) exhibit important similarities to Heckscher's treatment in ‘‘The Effect of Foreign Trade on the Distribution of Income,'' published one year earlier in Ekonomisk Tidskrift, 1920. There is no doubt that the author was unconsciously influenced by Heckscher's paper both at this and at later stages of the work. The influence of this pathbreaking paper, both conscious and unconscious, has surely been particularly decisive in the development of the material in chapters I–III.
Bertil Ohlin
Even when altruism is allowed (as, for example, in Gary Becker's model of rational allocation), it is assumed that the altruistic actions are undertaken because they promote each person's own interests; there are personal gains to the altruist's own welfare, thanks to sympathy for others. No role is given to any sense of commitment about behaving well or to pursuing some selfless objective. All this leaves out, on the one hand, the evil passions that early theorists of capitalism contrasted with self-interest and, on the other, the social commitments that Kant analyzed in The Critique of Practical Reason and that Adam Smith discussed in The Theory of Moral Sentiments.
Amartya Sen
Lincoln had a wonderful faculty for understanding the topography of a country, and he was quite familiar with the one in which the army was about to operate; he carried a small chart in his pocket, on which were marked all the rivers and hills about Richmond, with the city itself, and the different points where General Lee had his forces posted, the lines of defense, and, in fact, all the information that a general of an army wanted. During our rides which were always within the lines he would stop and spread out his chart on his knees and point out to me what he would do if he were the general commanding, taking good care, at the same time, never to interfere in any way with General Grant, whom, I rather think, he considered the better strategist of the two.
David Dixon Porter
