Institution Quotes - page 11
IN a free‐enterprise, private‐property system, a corporate executive is an employe of the owners of the business. He has direct responsibility to his employers. That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. Of course, in some cases his employers may have a different objective. A group of persons might establish a corporation for an eleemosynary purpose-for example, a hospital or school. The manager of such a corporation will not have money profit as his objective but the rendering of certain services. In either case, the key point is that, in his capacity as a corporate executive, the manager is the agent of the individuals who own the corporation or establish the eleemosynary institution, and his primary responsibility is to them.
Milton Friedman
Ordinarily, every body in society reminds us of somewhat else, or of some other person. Character, reality, reminds you of nothing else; it takes place of the whole creation. The man must be so much, that he must make all circumstances indifferent. Every true man is a cause, a country, and an age; requires infinite spaces and numbers and time fully to accomplish his design; - and posterity seem to follow his steps as a train of clients. A man Caesar is born, and for ages after we have a Roman Empire. Christ is born, and millions of minds so grow and cleave to his genius, that he is confounded with virtue and the possible of man. An institution is the lengthened shadow of one man ... and all history resolves itself very easily into the biography of a few stout and earnest persons.
Ralph Waldo Emerson
Now it could be... that when religion is attacked in this country, that the Catholic Church comes in for a little more than its fair share. I may say, I've probably contributed somewhat to that, and I'm not ashamed of my part in it; but doesn't the Catholic Church make rather large claims for itself. The Catholic Church claims to hold the keys of Peter. The Holy Father claims to have that power and be the vicar of Christ upon earth. It is said that only through this means and this approach can redemption can be achieved. These are large claims for a human, and fallible, and political, and bureaucratic institution to be making for itself in the age of Hawking.
Christopher Hitchens
The profit motive should not be confused with the profit system. By the profit system, of course, we mean the institution of private property in capital goods and the free private enterprise that goes along with it. There is no reason why the "profit motive" should be necessarily connected with the profit system. In a profit system there is nothing to prevent anyone acting on altruistic lines; there is no law that says a businessman must maximize his profits. If a businessman chose to operate with outputs, prices, and wages that yielded him a smaller profit than the maximum, but which he felt were socially more desirable, there is nothing in the profit system that would prevent him from doing this. Nothing in the profit system would prevent the most ardent liberal from refusing an increase in wages, or from accepting an unpleasant and poorly paid job. At the other extreme, there is nothing in a communist system that would do away with the profit motive, or the "advantage motive."
Kenneth Boulding
Clearly the present organization of the scientific community, cutting across the lines of nation states, bureaus, and almost all previously existing institutions, cannot be the result of conscious planning. There is, today, a good deal of organizational planning, but all of the instrumentalities which engage in this activity were founded after the development of science was well under way. Further, most of these organizations are parochial in nature, concerning themselves with only some special part of the scientific community like mathematical biophysics or Russian science. There is no general institution which has shaped or now can shape the development of science, only a mass of institutions which provide little more than liaison (and sometimes funds) for the scientific "producers.”.
Gordon Tullock
Again, science has the power to silence heretics. Today it is the only institution that can claim authority. Like the Church in the past, it has the power to destroy, or marginalise, independent thinkers. (Think how orthodox medicine reacted to Freud, and orthodox Darwinians to Lovelock.) In fact, science does not yield any fixed picture of things, but by censoring thinkers who stray too far from current orthodoxies it preserves the comforting illusion of a single established worldview.
John N. Gray
No doubt markets transmit information in the way that Hayek claimed. But what reason is there to believe that – unlike any other social institution – they have a built-in capacity to correct their mistakes? History hardly supports the supposition. Moods of irrational exuberance and panic can, and often do, swamp the price-discovery functions of markets.
John N. Gray
The importance to economics of the study of institutions is no longer a controversial proposition, thanks in part to the scholarly literature generated by the new institutional economics movement. Institutions are more than organizations – property is an institution, but not an organization – but organizations are an important form of institution and will be the focus of my paper, as it is, to a considerable extent, of the new institutional economics.
Richard Posner
A revelation, that may be supposed to be really of the institution of God, must also be supposed to be perfectly consistent or uniform, and to be able to stand the test of truth; therefore such pretended revelations, as are tendered to us as the contrivance of heaven, which do not bear that test, we may be morally certain, was either originally a deception, or has since, by adulteration become spurious.
Reason therefore must be the standard by which we determine the respective claims of revelation; for otherwise we may as well subscribe to the divinity of the one as of the other, or to the whole of them, or to none at all.
Ethan Allen
.. At the end of the month I should like to go to the hospital at St. Remy or another institution of this kind. What comforts me a little, is that I am beginning to consider madness as a disease like any other and accept the thing as such, whereas during the crises themselves, I thought that everything I imagined was real... After all... I have perhaps still some almost normal years in front of me.
Vincent van Gogh
The third element alone remains - the institution itself, acting in such a way as to make social acts a state of habit and instinct. This element - history proves it - has never missed its aim, never has it acted as a double-bladed sword; and its influence has only been weakened when custom strove to become immovable, crystallized, to become in its turn a religion not to be questioned when it endeavored to absorb the individual, taking all freedom of action from him and compelling him to revolt against that which had become, through its crystallization, an enemy to progress.
Peter Kropotkin
The only kind of marriage liberals had ever glorified is the gay kind. But thanks to Michael Schiavo, the sanctity of marriage is fast becoming a liberal sacrament, with the proviso it has to involve 'mercy killing.' It took Michael Schiavo's devoted efforts to starve and dehydrate his wife to restore liberal faith in the institution.
Ilana Mercer
Now observe: on the 36th day, after having begun to pray, on Dec. 10, 1845, I received 1000l. towards the building of the Orphan-House. This is the largest donation that I had received up to that time for the Scriptural Knowledge Institution; but when I received it I was as calm, as quiet, as if I had only received one shilling. For my heart was looking out for answers. Day by day I was expecting to receive answers to my prayers. Therefore, having faith concerning the matter, this donation did not in the least surprise me. Yea, if Five Thousand Pounds, or Ten Thousand Pounds, had been given to me, instead of One Thousand Pounds, it would not have surprised me.
George Müller
