“Nonsatiation (Smith, 1976a). Given a costless choice be ween two alternatives which differ only in that the first yields more of the reward medium (e. g., currency) than the second, the first will always be chosen (preferred) over the second by an autonomous individual, i. e., utility U(M) is a monotone increasing function of the reward medium.”

— Vernon L. Smith

Source: "Relevance of laboratory experiments to testing resource allocation theory," 1980, p. 346.

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Vernon L. Smith 20

American economist 1927

Hans Hofmann (1880–1966) American artist

As quoted in Hans Hofmann (1963) by William Chapin Seitz, p. 15
1960s

“Two forces are emerging that will moot global warming. First, the end of the population explosion will, over the decades, reduce the increases in demand for just about everything. Second, the increase in the cost of both finding and using hydrocarbons will increase the hunger for alternatives.”

George Friedman (1949) American businessman and political scientist

Source: The Next 100 Years: A Forecast for the 21st Century (2009), p. 252

“The second class of evils comprises such evils as people cause to each other, when, e. g., some of them use their strength against others. These evils are more numerous than those of the first kind… they likewise originate in ourselves, though the sufferer himself cannot avert them.”

Maimónides book The Guide for the Perplexed

Source: Guide for the Perplexed (c. 1190), Part III, Ch.12

“One demand for a concept of need arises because the concept of demand itself has serious weaknesses and limitations. It assumes away, for instance, a serious epistemological problem. The very idea of autonomous choice implies first that the chooser knows the real alternatives which are open to him, and second that he makes the choice according to value criteria or a utility function which he will not later regret. Both the image of the field of choice and the utility function have a learning problem which, by and large, economists have neglected. This problem is particularly acute in the case of medical care, where the demander is usually a layman faced with professional suppliers who know very much more than he does. The demand for medical care, indeed, is primarily a demand for knowledge or at least the results of knowledge…”

Kenneth E. Boulding (1910–1993) British-American economist

Kenneth Boulding (1967) "The Concept of Need for Health Services" as cited in: Gregory Parston (1980) Planners, Politics, and Health Services. p. 99
1960s

“Those first teachers of the Western world were teaching Quality, and the medium they had chosen was that of rhetoric.”

Robert M. Pirsig book Zen and the Art of Motorcycle Maintenance

Source: Zen and the Art of Motorcycle Maintenance (1974), Ch. 29
Context: Lightning hits!
Quality! Virtue! Dharma! That is what the Sophists were teaching! Not ethical relativism. Not pristine "virtue." But aretê. Excellence. Dharma! Before the Church of Reason. Before substance. Before form. Before mind and matter. Before dialectic itself. Quality had been absolute. Those first teachers of the Western world were teaching Quality, and the medium they had chosen was that of rhetoric.

“Once standards of procedures and the allocation of tasks and authority become the subject of normative agreements, the cost of change greatly increased. Normative agreements constrain adaptation in at least two ways. First, they provide a justification and an organizing principle for those elements that wish to resist reorganization (i. e. they can resist in terms of a shared principle). Second, normative agreements preclude the serious consideration of many alternative responses.”

Michael T. Hannan (1943) US-American sociologist of Stanford University

Source: "The Population Ecology of Organizations," 1977, p. 931

“The prejudices of ignorance are more easily removed than the prejudices of interest; the first are blindly adopted; the second wilfully preferred.”

George Bancroft (1800–1891) American historian and statesman

"The Office of the People in Art, Government and Religion", p. 430
Literary and Historical Miscellanies (1855)

“The Internet is a communication medium that allows for the first time, the communication of many to many, in chosen time, on a global scale.”

Manuel Castells (1942) Spanish sociologist (b.1942)

Opening, The Network is the Message, p. 2
The Internet Galaxy - Reflections on the Internet, Business, and Society (2001)

“If we compare. e. g. the systems of classical mathematics and of intuitionistic mathematics, we find that the first is much simpler and technically more efficient, while the second is more safe from surprising occurences, e. g. contradictions. At the present time, any estimation of the degree of safety of the system of classical mathematics, in other words, the degree of plausibility of its principles, is rather subjective. The majority of mathematicians seem to regard this degree as sufficiently high for all practical purposes and therefore prefer the application of classical mathematics to that of intuitionistic mathematics. The latter has not, so far as I know, been seriously applied in physics by anybody.”

Rudolf Carnap (1891–1970) German philosopher

Rudolf Carnap (1939; 51), as cited in: Paul van Ulsen. Wetenschapsfilosofie http://www.illc.uva.nl/Research/Publications/Inaugurals/IV-10-Arend-Heyting.text.pdf, 6 november 2017.

“There must always be a first," said Jem. "It is not easy to be first, and it is not always rewarding, but it is important.”

Cassandra Clare book Clockwork Princess

Source: Clockwork Princess

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Vernon L. Smith 20

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