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

Kenneth E. Boulding

Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.

Kenneth E. Boulding

population-problem fun believe

A world of unseen dictatorship is conceivable, still using the forms of democratic government.

Kenneth E. Boulding

unseen government world

The human condition can almost be summed up in the observation that, whereas all experiences are of the past, all decisions are about the future. It is the great task of human knowledge to bridge this gap and to find those patterns in the past which can be projected into the future as realistic images.

Kenneth E. Boulding

decision bridges past

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

Kenneth E. Boulding

barren may facts

As long as man was small in numbers and limited in technology, he could realistically regard the earth as an infinite reservoir, an infinite source of inputs and an infinite cesspool for outputs. Today we can no longer make this assumption. Earth has become a space ship, not only in our imagination but also in the hard realities of the social, biological, and physical system in which man is enmeshed.

Kenneth E. Boulding

technology men reality

Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.

Kenneth E. Boulding

addiction cost growth

Are we to regard the world of nature simply as a storehouse to be robbed for the immediate benefit of man? ... Does man have any responsibility for the preservation of a decent balance in nature, for the preservation of rare species, or even for the indefinite continuance of his race?

Kenneth E. Boulding

race responsibility men

If the society toward which we are developing is not to be a nightmare of exhaustion, we must use the interlude of the present era to develop a new technology which is based on a circular flow of materials such that the only sources of man's provisions will be his own waste products.

Kenneth E. Boulding

technology use men

In 1859 the human race discovered a huge treasure chest in its basement. This was oil and gas, a fantastically cheap and easily available source of energy. We did, or at least some of us did, what anybody does who discovers a treasure in the basement - live it up, and we have been spending this treasure with great enjoyment

Kenneth E. Boulding

oil energy race

It is almost as hard to define mathematics as it is to define economics, and one is tempted to fall back on the famous old definition attributed to Jacob Viner, "Economics is what economists do," and say that mathematics is what mathematicians do. A large part of mathematics deals with the formal relations of quantities or numbers.

Kenneth E. Boulding

definitions numbers fall

Equilibrium is a figment of the human imagination.

Kenneth E. Boulding

equilibrium figments imagination

The thing that distinguishes social systems from physical or even biological systems is their incomparable (and embarrassing) richness in special cases. Generalizations in the social sciences are mere pathways which lead through a riotous forest of individual trees, each a species unto itself. The social scientist who loses this sense of the essential individuality and uniqueness of each case is all too likely to make a solemn scientific ass of himself, especially if he thinks that his faceless generalizations are the equivalents of the rich vareity of the world.

Kenneth E. Boulding

individuality tree thinking

Every culture, or subculture, is defined by a set of common values, that is, generally agreed upon preferences. Without a core of common values a culture cannot exist, and we classify society into cultures and subcultures precisely because it is possible to identify groups who have common values.

Kenneth E. Boulding

groups common culture

We should always bear in mind that numbers represent a simplification of reality.

Kenneth E. Boulding

mind numbers reality

There is a quiet, open place in the depths of the mind, to which we can go many times in the day and lift up our soul in praise, thankfulness and conscious unity. With practise this God-ward turn of the mind becomes an almost constant direction, underlying all our other activities.

Kenneth E. Boulding

unity soul mind

The perception of potential threats to survival may be much more important in determining behavior than the perceptions of potential profits, so that profit maximization is not really the driving force. It is fear of loss rather than hope of gain that limits our behavior.

Kenneth E. Boulding

survival perception loss

I shall argue that it is the capital stock from which we derive satisfaction, not from the additions to it (production) or the subtractions from it (consumption): that consumption, far from being a desideratum, is a deplorable property of the capital stock which necessitates the equally deplorable activity of production: and that the objective of economic policy should not be to maximize consumption or production, but rather to minimize it, i.e. to enable us to maintain our capital stock with as little consumption or production as possible.

Kenneth E. Boulding

satisfaction arguing littles

The evolutionary vision is agnostic in regard to systems in the universe of greater complexity than those of which human beings have clear knowledge. It recognizes aesthetic, moral, and religious ideas and experiences as a species, in this case of mental structures or of images, which clearly interacts with other species in the world's great' ecosystem.

Kenneth E. Boulding

ecosystems religious ideas

The World is a very complex system. It is easy to have too simple a view of it, and it is easy to do harm and to make things worse under the impulse to do good and make things better.

Kenneth E. Boulding

simple views world

The future is bound to surprise us, but we don't have to be dumbfounded.

Kenneth E. Boulding

bounds future surprise