Quakers

"In every field there is a need for writing where the main objective is to extend the reader's field of acquaintance with the complex cases of the real world. Such writing does not have to be very exact or quantitative; it does not even have to formulate or to demonstrate hypotheses. It constitutes, as it were, travel over the field of study. Travel is certainly not enough, even for a geographer, but we would feel, I imagine, that a geographer who had never travelled would be under a serious handicap. Similarly the student of organizations who has never, even vicariously through reading, been in a hospital, a bank, a research laboratory, a large corporation, a Soviet factory, a revolution, an Egyptian civil service department, and so on, has missed something. His generalizations are apt to be based on too narrow a selection of the field."

"In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process."

"A second possible approach to general systems theory is through the arrangement of theoretical systems and constructs in a hierarchy of complexity, roughly corresponding to the complexity of the "individuals" of the various empirical fields... leading towards a "system of systems."… I suggest below a possible arrangement of "levels" of theoretical discourse."

"[There will be movement toward] behavioral economics... [which] involves study of those aspects of men’s images, or cognitive and affective structures that are more relevant to economic decisions."

"Accounting for the most part, remains a legalistic and traditional practice, almost immune to self-criticism by scientific methods."

"[Veblenian institutionalism was] part of a much larger movement of dissent, that includes London School Institutionalists, Oxford Antimarginalists and the German Historical School (especially its second generation."

"Reality, in its quantitative aspect, must be considered as a system of populations... The general study of the equilibria and dynamics of populations seems to have no name; but as it has probably reached its highest development in the biological study known as 'ecology,' this name may well be given to it."

"We all, or nearly all, consent If wages rise by ten per cent It puts a choice before the nation Of unemployment or inflation."

"I seem to have come to much of the same conclusion as you have reached, though approaching it from the direction of economics and the social sciences rather than from biology - that there is a body of what have been calling "general empirical theory," or "general system theory" in your excellent terminology , which is of wide applicability in many different disciplines. I am sure there are many people all over the world who have come to essentially the same position that we have, but we are widely scattered and do not know each other, so difficult is it to cross the boundaries of the disciplines."

"Economic problems have no sharp edges. They shade off imperceptibly into politics, sociology, and ethics. Indeed, it is hardly an exaggeration to say that the ultimate answer to every economic problem lies in some other field."

"The 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.""

"Theories without facts may be barren, but facts without theories are meaningless."

"The controversy as to whether socialism is possible has been settled by the fact that it exists, and it is a fundamental axiom of my philosophy, at any rate, that anything that exists, is possible."

":(i) The first level is that of the static structure. It might be called the level of frameworks..."

"The organization of science into disciplines sets up a series of ghettos with remarkable distances of artificial social space between them."

"[The historical] development in the international system may almost be defined as the process by which we pass from stable war to stable peace."

"Kenneth E. Boulding was a most extraordinary economist. The narrow bounds of the economics discipline could not contain his interests and talents. In addition to economics, Professor Boulding made important contributions to the fields of , sociology, philosophy, and . His forays into subjects outside the usual concerns of economists were not an intellectual dilettantism; rather, they were a result of his conviction that an understanding of human behavior can only be accomplished by studying man in his totality. Much of Boulding's work was an attempt to move beyond the narrow economic view of humans as self-interested, rational utility maximizers to a general social science exploiting the full range of our rational, instinctual, and mystical knowledge."

"Economists can take a good deal of credit for the stabilization policies which have been followed in most Western countries since 1945 with considerable success. It is easy to generate a euphoric and self-congratulatory mood when one compares the twenty years after the first World War, 1919-39, with the twenty years after the second, 1945-65. The first twenty years were a total failure; the second twenty years, at least as far as economic policy is concerned, have been a modest success. We have not had any great depression; we have not had any serious financial collapse; and on the whole we have had much higher rates of development in most parts of the world than we had in the 1920’s and 1930’s, even though there are some conspicuous failures. Whether the unprecedented rates of economic growth of the last twenty years, for instance in Japan and Western Europe, can be attributed to economics, or whether they represent a combination of good luck in political decision making with the expanding impact of the natural and biological sciences on the economy, is something we might argue. I am inclined to attribute a good deal to good luck and non-economic forces, but not all of it, and even if economics only contributed 10 percent, this would amount to a very handsome rate of return indeed, considering the very small amount of resources we have really put into economics."

"Kenneth Boulding, a well-known economist and widely-read author. Boulding used an ecological model for understanding corporations and individuals as actors within a social system. His 1956 book, The Image is an early discussion of mental models. His 1978 book, Ecodynamics: A New Theory of Societal Evolution summarizes much of his earlier work."

"Boulding was not left-wing in his politics nor involved in the radical economics of the time. In fact he was always hostile to Marx’s theory of capitalism and its emphasis on class conflict. What he did feel strongly about was the cause of peace, having become a Quaker early in life, and having been active throughout his career in a variety of ways in the cause of peace. Moreover, he himself saw peace and conflict research as his largest area of work (Boulding, 1989), and regarded his involvement in the founding of the ' and the as important lifetime achievements."

"General systems theory is considered as a formal theory (Mesarovic, Wymore), a methodology (Ashby, Klir), a way of thinking (Bertalanffy, Churchman), a way of looking at the world (Weinberg), a search for an optimal simplification (Ashby, Weinberg), didactic method (Boulding, Klir, Weinberg), metalanguage (Logren), and profession (Klir)."

":(ii) The next level of systematic analysis is that of the simple dynamic system with predetermined, necessary motions..."

":(iii) The next level is that of the control mechanism or cybernetic system, which might be nicknamed the level of the thermostat..."

"Reconstruction is merely a special case of economic progress. If we are to understand its problems thoroughly, we must examine what is meant by economic progress and try to discover how it comes about... Economic progress is not altogether easy to define and is even more difficult to measure. Nevertheless, the phrase clearly corresponds to a meaningful idea. We have only to contrast a savage society with our own. In a savage society, the same customs, the same techniques, the same ways of doing everything, from ploughing to praying, are maintained generation after generation, son following exactly in the footsteps of his father and daughter in the footsteps of her mother, without deviating an inch from the well-trodden way. In modern civilized society, on the other hand, there is constant change and flux; we are constantly improving on the methods of our ancestors, and indeed one of the surest ways to discredit anything is to call it "old-fashioned!""

"This concept of capital-rebuilding is so important that it may be desirable to digress for a moment. In the broadest sense of the word, capital means the sum total of the valuable things possessed by the individuals of a society, excluding "claims," that is, mere titles to property. The word is used to mean both the inventory of these valuable things; the houses, factories, machines, livestock, stocks of raw materials, and goods in all stages of completion; and also to mean the sum of the values of these things. It should generally be clear from the context which of these two meanings is intended."

"[The theory of the firm] is exactly analogous to the analysis of the reactions of a consumer by means of indifferent curves. Indeed, a consumer is merely a ‘firm’ whose product is ‘utility’."

"The use of isoquants to describe the production function did not develop to any great extent until the thirties."

"The discounting presumably is to be done for each period of time at that rate of interest which represents the alternative cost of employing capital in the occupation in question; that is, at the rate which the entrepreneur could obtain in other investments"

"There is reason for this shift of emphasis from any actual price to a hypothetical 'equilibrium' price. It is usually more interesting to know where a train is going than to know exactly where it is at any moment. The 'equilibrium' position of any price, wage, firm, industry, or system is the position toward which it is tending. The importance of equilibrium analysis, then, is that it enables us to discuss the directions of change. If a train is in New- York and its 'equilibrium' position is in Chicago, we are reasonably confident that the general direction of its motion will be westward, even if it unaccountably decides to travel north for the first hundred and fifty miles."

"It is probable that when future historians of economic thought look back over this century, the thirties will appear as an era of rapid development in economic theory. Not only has there been unusual activity in monetary theory, theory of value. but extensive transformations have also been made in the basic theory of value. The outstanding publications in this field are, of course, Joan Robinson's Theory of Imperfect Competition and Chamberlin's Theory of Monopolistic Competition, the first produced in Cambridge, England, and the second in Cambridge, Massachusetts. These volumes mark the explicit recognition of the theory of the firm as an integral division of economic analysis upon which rests the whole fabric of equilibrium theory. General equilibrium is nothing more than the problem of the interaction of individual economic organisms, under various conditions and assumptions; as a necessary preliminary to its solution, an adequate theory of the individual organism itself is necessary."

"The process of ... is the final act in the economic drama"

"The main key to the economics of the postwar world is a simple truism — that the rate of accumulation is equal to the rate of production less the rate of consumption. This is the "Bathtub Theorem." Production may be likened to the flow of water from the faucet, consumption to the flow down the drain. The difference between these two flows is the rate at which the water in the bathtub - the total stockpile of all goods - is accumulating. War drains the economic bathtub in a great waste of consumption. The first problem of reconstruction is to rebuild the stockpile. It can be rebuilt only by widening the gap between production and consumption, or, in the case of a single country, by importing more than is exported. It is difficult for a ravaged country to increase either its production or its net imports. Unless it can obtain outside help, therefore, it must suffer a drastic restriction of consumption. Frequently the only way consumption can be restricted is by inflation. Here, therefore, is the key to the most fundamental problems of reconstruction."

"[In this we may expect the article to be sold to] "the most eager buyer at a price which is just about the highest he is willing to pay, for in this case the most eager buyer does not know what prices the other buyers are willing to give [and] … each buyer fear that someone may slip in ahead of him."

"Mathematicians themselves set up standards of generality and elegance in their exposition which are a bar to understand."

"Thus we seem to be on the verge of an expansion of welfare economics into something like a social science of ethics and politics: what was intended to be a mere porch to ethics is either the whole house or nothing at all. In so laying down its life welfare economics may be able to contribute some of its insights and analytical methods to a much broader evaluative analysis of the whole social process."

"A distinguished economist, on being asked to define the subject matter of his science, once replied, "Economics is what economists do.""

"We have defined the main task of economic analysis as the explanation of the magnitudes of economic quantities. The student will find also that the main part of this, as of most other works on the subject, is concerned with the theory of the determination of prices, wages, interest rates, incomes, and the like. He may well inquire, therefore, in the midst of so much mathematics, whether the first task of economics is not the investigation of wealth, or welfare. Some economists have endeavored to restrict the boundaries of the science to the investigation of those quantities which are numerically measurable. Well-being, under such a restriction, would not be part of economics at all."

"The task of presenting a systematic, orderly, and accurate account of economic analysis is identical with the task of preparing the material for teaching. It must be emphasized, however, that the purpose of this work is not primarily to entertain the student, or to enable him to regurgitate appropriate material into examination books, or to learn a few pat phrases, or to indoctrinate him with an abstract discipline which he will never use. Economics is like photography in this respect, that under-exposure is less desirable than no exposure at all."

"A firm may be defined as an institution which buys things, transforms them in some way, and then sells them with the purpose of making a profit. The things a firm buys we shall call "inputs." The things it sells we shall call "outputs." The process whereby the things it buys are transformed into the things it sells we shall call the "process of production." In any process of buying to sell again a process of production is always involved..."

"The ultimate "causes of price" - to use a Classical term - lie deeply embedded in the psychology and techniques of mankind and his environment, and are as manifold as the sands of the sea. All economic analysis is an attempt to classify these manifold causes, to sort them out into categories of discourse that our limited minds can handle, and so to perceive the unity of structural relationship which both unites and separates the manifoldness. Our concepts of "" and "supply" are such broad categories. In whatever sense they are used, they are not ultimate determinants of anything, but they are convenient channels through which we can classify and describe the effects of the multitude of determinants of the system of economic magnitude."

"The greater the penalties laid on sellers in the ... the higher the black market price."

"We are not sent into this world to walk it in solitude. We are born to love, as we are born to breathe and eat and drink. The babe is hardly separated from his mother’s womb before he stretches out a tiny clasping hand, and from that time forth he will constantly stretch out to touch the world that lies about him and the folk that dwell therein. The purpose of our growth in life is to bring us into unity with the universe into which we are born, to make us aware that we are not lonely individual meteors hurtling blindly through an abysmal dark, but living parts of a living whole. As we grow we learn to love more and more: first ourselves; then the family within the small kingdom of the home; then the school, the wider circle of friends, the home community, the college, and the still wider community of the nation; and finally, the greatest country of all, which has no boundaries this side of Hell, and perhaps not even there."

"Just as there are inputs which are supplied by the owner of a business, and whose value therefore is a "virtual," not an actual, expense, so there can be outputs which are consumed by the owner of a business, and whose value therefore forms."

"Conventions of generality and mathematical elegance may be just as much barriers to the attainment and diffusion of knowledge as may contentment with particularity and literary vagueness... It may well be that the slovenly and literary borderland between economics and sociology will be the most fruitful building ground during the years to come and that mathematical economics will remain too flawless in its perfection to be very fruitful."

"[The is] the supreme mover of economic order... for whom all goods are made and towards whom all economic activity is directed."

"Anne Conway embraces the fundamental tenet of the occult philosophers that God was not a vindictive Father who wanted to punish his children for their failings. God damned no one; at most, people damned themselves by turning their backs on God, whose infinite love was freely available to everyone. From the end of the seventeenth century, occultists like Lady Conway and Jane Lead, representative of early modern occultism, were extending this belief into universal salvation. God not only wanted to save everyone, eventually he would succeed in doing so."

"Some pre-Socratic “Greek” thinking conceived of the world as a composite whole made up of indivisible parts (atoms) and so searched for a basic “stuff” at bottom. Conway suggests that the distinctions composite/indivisible, whole/part be collapsed without abandoning the pre-Socratic process of division. Divide a whole and you are left not with parts, but with wholes. In this sense, nothing is more “basic” than anything else. Plato and Parmenides began with the One not “at bottom,” but “at top.” The problem is not how to get a whole out of a bunch of parts, but how to account for the diversity of “wholes” without sacrificing unity. Perfect freedom would consist in perfect determination — perfect identification of wholes: hence, the idea of “conformity to God’s will” and the Quaker ideal of simplicity. Sequentially, there is a time and place where/ when “simpler” structures exist and more “complex” structures do not — but atemporally (and from the perspective of the whole) all simply exists. Reading back from that perspective (as Plato and Parmenides attempt to do), the“end” may be seen as informing the “beginning” and the “middle.” If Plato worked backward from the “end” and Democritus worked forward from the “beginning,” Conway worked outward from the middle — and this is the place Leibniz mapped in his comment to Burnett. Since the middle is the one place we can be, it is most assuredly a more secure place to start than the“end” or the “beginning,” where we cannot."

"She distinguishes three distinct kinds of being, God, Christ, and creation, which are differentiable from each other chiefly with respect to changeability — God is utterly unchangeable, Christ is changeable only for the better, and hence forms a necessary mediation between God and creation, and creatures are changeable for better or for worse. With respect to creatures, this feature has the result than any creature could in principle be transformed into any other. Lady Conway goes so far as to claim that there is no difference in kind between body and spirit, that even though in each creature there is a passive principle and an active one, the difference is only in degree not in kind."

"The framework of Conway's system is a tripartite ontological hierarchy of ‘species’, the highest of which is God, the source of all being. Christ, or ‘middle nature’, links God and the third species, called ‘Creature’. God as the most perfect being is infinitely good, wise and just. A principle of likeness links God and creation. Since God is good and just, his creation too is good and just. Created substance, like God, consists of spirit, but, unlike God, is constituted of particles called monads. All created substance is living, capable of motion and perception Anne Conway denies the existence of material body as such, arguing that inert corporeal substance would contradict the nature of God, who is life itself. Incorporeal created substance is, however, differentiated from the divine, principally on account of its mutability and multiplicity even so, the infinite number and constant mutability of created monads constitute an obverse reflection of the unity, infinity, eternity and unchangeableness of God. The continuum between God and creatures is made possible through ‘middle nature’, an intermediary being, through which God communicates life, action, goodness and justice. ‘Middle nature’, partakes of the nature of both God and creation, and is therefore both a bridge and a buffer between God and created things. Thus, although she conceives of created substance as a continuum, and understands mutability as capacity for increased perfection, she sought to avoid the charge of pantheism."

"She explains evil as a falling away from the perfection of God, and understands suffering as part of a longer term process of spiritual recovery. She denies the eternity of hell, since for God to punish finite wrong-doing with infinite and eternal hell punishment would be manifestly unjust and therefore a contradiction of the divine nature. Instead she explains pain and suffering as purgative, with the ultimate aim of restoring creatures to moral and metaphysical perfection."