Quotes by Frank Knight

About Frank Knight:

Frank Hyneman Knight was an American economist who spent most of his career at the University of Chicago, where he became one of the founders of the Chicago school. Nobel laureates Milton Friedman, George Stigler and James M. Buchanan were all students of Knight at Chicago. Ronald Coase said that Knight, without teaching him, was a major influence on his thinking.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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

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

Frank Knight

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

Frank Knight

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

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

Frank Knight

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

Frank Knight

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

Author Bio

  • NameFrank Knight
  • DescriptionUS-American economist
  • BornNovember 7, 1885
  • DiedApril 15, 1972
  • CountryUnited States Of America
  • ProfessionEconomist
  • AwardsGuggenheim Fellowship