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Maker Quotes - page 7 - Quotesdtb.com
Maker Quotes - page 7
England, as I persuade myself, still contains in it many kings; possesses, as old Rome did, many men not needing "election" to command, but eternally elected for it by the Maker Himself. England's one hope is in these, just now. They are among the silent, I believe; mostly far away from platforms and public palaverings; not speaking forth the image of their nobleness in transitory words, but imprinting it, each on his own little section of the world, in silent facts, in modest valiant actions, that will endure forevermore. They must sit silent no longer. They are summoned to assert themselves; to act forth, and articulately vindicate, in the teeth of howling multitudes, of a world too justly maddened into all manner of delirious clamors, what of wisdom they derive from God.
Thomas Carlyle
Global rationality, the rationality of neoclassical theory, assumes that the decision maker has a comprehensive, consistent utility function, knows all the alternatives that are available for choice, can compute the expected value of utility associated with each alternative, and chooses the alternative that maximizes expected utility. Bounded rationality, a rationality that is consistent with our knowledge of actual human choice behavior, assumes that the decision maker must search for alternatives, has egregiously incomplete and inaccurate knowledge about the consequences of actions, and chooses actions that are expected to be satisfactory.
Herbert Simon