Max Bill
Swiss architect, painter and sculptor (1908-1994)
Frank Knight
American economist (1885-1972)
Frank Hyneman Knightwas 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.
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About the Frank Knight
Frank Hyneman Knightwas 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. F.A. Hayek considered Knight to be one of the major figures in preserving and promoting classical liberal thought in the twentieth century.
Paul Samuelson named Knightas one of the several “American saints in economics” born after 1860.
7 Quotes by Frank Knight
- 1.
In the long run all producers are forced to use the most efficient methods or give place to others who do.
Frank KnightAmerican economist (1885-1972)
- 2.
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 KnightAmerican economist (1885-1972)
- 3.
All science is static in the sense that it describes the unchanging aspects of things.
Frank KnightAmerican economist (1885-1972)
- 4.
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 KnightAmerican economist (1885-1972)
- 5.
We have to adapt and overcome, that’s all we can do.
Frank KnightAmerican economist (1885-1972)
- 6.
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 KnightAmerican economist (1885-1972)
- 7.
There is no sense in making statements that will not continue to be true after they are made.
Frank KnightAmerican economist (1885-1972)