Frank Knight
A founder of the Chicago School, known for his work on risk, uncertainty, and profit.
Quotes by Frank Knight
To understand society, one must understand the economy, but to understand the economy, one must understand the soul.
Patience is the companion of wisdom.
Markets are not perfect, but they are the best we have for coordinating human action.
The wise man knows he knows nothing, and acts accordingly.
Innovation comes from those who dare to be wrong.
Life's value is not in duration, but in donation.
Economics is the science of choice, but choice is the art of living.
Doubt is the beginning of wisdom.
The profit motive is but a shadow of the human spirit.
In the end, what matters is not what we have, but what we give.
Teaching is the greatest of the arts, for it shapes minds.
Uncertainty breeds opportunity for the bold.
The economy is a reflection of our values.
Wit is educated insolence.
Reform without freedom is tyranny.
The pursuit of knowledge is endless.
Human progress is measured by the reduction of uncertainty.
Live not for yourself, but for others.
Economics teaches us that nothing is free.
The last word on economics is silence.