“Neither perfect knowledge of the past nor complete awareness of the current state of the arts gives sufficient foresight to indicate profitable action. Even for this more restricted objective, the pervasive effects of uncertainty prevent the ascertainment of actions which are supposed to be optimal in achieving profits. Now the consequence of this is that modes of behavior replace optimum equilibrium conditions as guiding rules of action. Therefore, in the following sections two forms of conscious adaptive behavior are emphasized.”

— Armen Alchian

"Uncertainty, Evolution, and Economic Theory", 1950

Adopted from Wikiquote. Last update June 3, 2021. History

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Armen Alchian 11

American economist 1914–2013

Armen Alchian (1914–2013) American economist

Source: "Uncertainty, Evolution, and Economic Theory", 1950, p. 221

“Follow effective action with quiet reflection. From the quiet reflection will come even more effective action.”

Peter F. Drucker (1909–2005) American business consultant

“War is waged by governmental action and war can be prevented only by actions of governments. This means that individuals must act as citizens and influence the behavior of governments if they are to be effective in preventing war.”

Kirby Page (1890–1957) American clergyman

What Does God Want Us to Do About Russia? (1948)

“Human beings hold two types of theories of action. There is the one that they espouse, which is usually expressed in the form of stated beliefs and values. Then there is the theory that they actually use; this can only be inferred from observing their actions, that is, their actual behavior.”

Chris Argyris (1923–2013) American business theorist/Professor Emeritus/Harvard Business School/Thought Leader at Monitor Group

Source: On organizational learning (1999), p. 126: as cited in: Kenneth D. Shearer, ‎Robert Burgin (2001) The Readers' Advisor's Companion. p. 39

“Democratic socialists are either proletarians who are not yet sufficiently clear about the conditions of the liberation of their class, or they are representatives of the petty bourgeoisie, a class which, prior to the achievement of democracy and the socialist measures to which it gives rise, has many interests in common with the proletariat. It follows that, in moments of action, the communists will have to come to an understanding with these democratic socialists, and in general to follow as far as possible a common policy with them – provided that these socialists do not enter into the service of the ruling bourgeoisie and attack the communists. It is clear that this form of co-operation in action does not exclude the discussion of differences.”

Friedrich Engels (1820–1895) German social scientist, author, political theorist, and philosopher

(1847)

“When a specific desired end is attained we shall say that the action is "effective." When the unsought consequences of the action are more important than the attainment of the desired end and are dissatisfactory, effective action, we shall say, is "inefficient." When the unsought consequences are unimportant or trivial, the action is "efficient.”

Chester Barnard book The Functions of the Executive

Source: The Functions of the Executive (1938), p. 19 (in 1968 edition)

“If an action … involves little profit but much righteousness, do it.”

Xun Zi (-313–-238 BC) Ancient Chinese philosopher

Readings in Classical Chinese Philosophy (2001), p. 263
"Cultivating oneself"

“Power dements even more than it corrupts, lowering the guard of foresight and raising the haste of action.”

Will Durant book The Story of Civilization

As quoted in Midnight by Dean Koontz
The Story of Civilization (1935–1975), XI - The Age of Napoleon (1975)

“The object of the present volume is to point out the effects and the advantages which arise from the use of tools and machines;—to endeavour to classify their modes of action;—and to trace both the causes and the consequences of applying machinery to supersede the skill and power of the human arm.”

Charles Babbage On the Economy of Machinery and Manufactures

Preface
On the Economy of Machinery and Manufactures, 1832/1841

“I know that I have the ability to achieve the object of my Definite Purpose in life, therefore, I DEMAND of myself persistent, continuous action toward its attainment, and I here and now promise to render such action.”

Napoleon Hill book Think and Grow Rich

Source: Think and Grow Rich (1938), p. 54

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Armen Alchian 11

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