Quotes about transaction (168 quotes) | Quotes of famous people

“To be GOVERNED is to be watched, inspected, spied upon, directed, law-driven, numbered, regulated, enrolled, indoctrinated, preached at, controlled, checked, estimated, valued, censured, commanded, by creatures who have neither the right nor the wisdom nor the virtue to do so. To be GOVERNED is to be at every operation, at every transaction noted, registered, counted, taxed, stamped, measured, numbered, assessed, licensed, authorized, admonished, prevented, forbidden, reformed, corrected, punished. It is, under pretext of public utility, and in the name of the general interest, to be place under contribution, drilled, fleeced, exploited, monopolized, extorted from, squeezed, hoaxed, robbed; then, at the slightest resistance, the first word of complaint, to be repressed, fined, vilified, harassed, hunted down, abused, clubbed, disarmed, bound, choked, imprisoned, judged, condemned, shot, deported, sacrificed, sold, betrayed; and to crown all, mocked, ridiculed, derided, outraged, dishonored. That is government; that is its justice; that is its morality."
General Idea of the Revolution in the Nineteenth Century, translated by John Beverly Robinson (London: Freedom Press, 1923), pp. 293-294.”

Pierre Joseph Proudhon (1809–1865) French politician, mutualist philosopher, economist, and socialist

Wisdom , Justice , Law , Idea

“Hammurabi's Code cannot by any means be regarded as a faltering attempt to frame laws among a young and inexperienced people. Such a masterpiece of legislation could befit only a thriving and well-organized nation, given to agriculture and commerce, long since grown familiar with the security afforded by written deeds drawn up with all the niceties and solemnities which clever jurists could devise, and accustomed to transact no business otherwise. It is inspired throughout by an appreciation of the right and humane sentiments that make it surpass by far the stern old Roman law.”

Hammurabi (-1810–-1750 BC) sixth king of Babylon

Charles L. Souvay, The Catholic Encyclopedia (1910), Volume VII.
About

People , Law , Business

“There shall be no transaction between East and West Pakistan. All communications, telegraph and telephone, will be confined within Bangladesh. The people of this land are facing elimination. If need be, we will bring everything to a total standstill. Collect your salaries on time. If the salaries are held up, if a single bullet is fired upon us henceforth, if the murder of my people does not cease, I call upon you to turn every home into a fortress against their onslaught. Use whatever you can put your hands on to confront this enemy. Every last road must be blocked.”

Sheikh Mujibur Rahman (1920–1975) Bengali revolutionary, founder ("father") of Bangladesh

Quote, This time the struggle is for our freedom (1971)

People , Home , Communication , Time

“Was not writing poetry a secret transaction, a voice answering a voice?”

Virginia Woolf book Orlando: A Biography

Source: Orlando

Secret

“A sort of transaction went on between them, in which she was on one side, and life was on another, and she was always trying to get the better of it, as it was of her.”

Virginia Woolf book To the Lighthouse

Source: To the Lighthouse

Life

“It is easier to hide behind philosophical arguments, heavily footnoted for effect, than it is to admit our hurts, our confusions, our loves, and our passions in the marketplace of life's heartfelt transactions.”

Ravi Zacharias (1946) Indian philosopher

1990s
Source: [Can Man Live Without God, 1994, 9780849939433, 6]

Love , Life , Passion , Hurt

“Transaction costs were used in the one case to show that if they are not included in the analysis, the firm has no purpose, while in the other I showed, as I thought, that if transaction costs were not introduced into the analysis, for the range of problems considered, the law had no purpose.”

Ronald H. Coase The Nature of the Firm

Ronald H. Coase (1988). "The Nature of the Firm: Influence." Journal of Law, Economics, and Organization 4 (No. 1, Spring): 33—47. p. 34; as cited in Eggertsson (1990; xiii)
1960s-1980s

Law , Problem

“The question always is, will it pay to bring an extra exchange transaction under the organizing authority? At the margin, the costs of organizing within the firm will be equal either to the costs of organizing in another firm or to the costs involved in leaving the transaction to be “organised” by the price mechanism. Business men will be constantly experimenting, controlling more or less, and in this way equilibrium will be maintained. This gives the position of equilibrium for static analysis.”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 404

Men , Way , Question , Business

“Markets are institutions that exist to facilitate exchange, that is, they exist in order to reduce the cost of carrying out exchange transactions. In an economic theory which assumes that transaction costs are nonexistent. markets have no function to perform, and it seems perfectly reasonable to develop the theory of exchange by an elaborate analysis of individuals exchanging nuts for apples on the edge of the forest or some similar fanciful example. This analysis certainly shows why there is a gain from trade, but it fails to deal with the factors which determine how much trade there is or what goods are traded.”

Ronald H. Coase (1910–2013) British economist and author

1960s-1980s, "The Firm, the Market, and the Law" (1988)

“Remember, every business firm, like even a mom and pop grocery store, is a market imperfection. A firm is defined in economic theory as a market imperfection introduced to deal with transaction costs. And the sort of theory is that the imperfections, the firms, are kinda like little islands in a free market sea. But the problem with that is that the sea doesn't remotely resemble a free market, and the islands are bigger than the sea; so that raises some questions about the picture. But these market imperfections, like a firm, or a transnational corporation, or a strategic alliance among them, this is a form of administering interchanges. And there's a real question about whether we want to accept that. Why, for example, should the international socioeconomic system, or for that matter our own society, be in the hands of unaccountable private tyrannies? That's a decision, it's not a law of nature.”

Noam Chomsky (1928) american linguist, philosopher and activist

Talk titled "U.S. Foreign Policy in a Globalized World" at Johns Hopkins University, Maryland, March 13, 2000 https://web.archive.org/web/20021220030406/http://www.gseis.ucla.edu/faculty/kellner/ed270/multimedia.html.
Quotes 2000s, 2000

Law , Moms , Question , Business

“If then we would indeed be “filled with wisdom and spiritual understanding;” if we would “walk worthy of the Lord unto all well pleasing, being fruitful in every good work, and increasing in the knowledge of God;” here let us fix our eyes! “Laying aside every weight, and the sin that does so easily beset us; let us run with patience the race that is set before us, Looking unto Jesus, the Author and Finisher of our faith, who for the joy that was set before him endured the cross, despising the shame, and is set down at the right hand of the throne of God.
Here best we may learn the infinite importance of Christianity. How little it can deserve to be treated in that slight and superficial way, in which it is in these days regarded by the bulk of nominal Christians, who are apt to think it may be enough, and almost equally pleasing to God, to be religious in any way, and upon any system. What exquisite folly it must be to risk the soul on such a venture, in direct contradiction to the dictates of reason, and the express declaration of the word of God! “How shall we escape, if we neglect so great salvation?”
LOOKING UNTO JESUS!
Here we shall best learn the duty and reasonableness of an absolute and unconditional surrender of soul and body to the will and service of God.—“We are not our own; for we are bought with a price,” and must “therefore” make it our grand concern to “glorify God with our bodies and our spirits, which are God’s.” Should we be base enough, even if we could do it with safety, to make any reserves in our returns of service to that gracious Saviour, who “gave up himself for us?” If we have formerly talked of compounding by the performance of some commands for the breach of others; can we now bear the mention of a composition of duties, or of retaining to ourselves the right of practising little sins! The very suggestion of such an idea fills us with indignation and shame, if our hearts be not dead to every sense of gratitude.
LOOKING UNTO JESUS!
Here we find displayed, in the most lively colours, the guilt of sin, and how hateful it must be to the perfect holiness of that Being, “who is of purer eyes than to behold iniquity.” When we see that, rather than sin should go unpunished, “God spared not his own Son,” but “was pleased[99], to bruise him and put him to grief” for our sakes; how vainly must impenitent sinners flatter themselves with the hope of escaping the vengeance of Heaven, and buoy themselves up with I know not what desperate dreams of the Divine benignity!
Here too we may anticipate the dreadful sufferings of that state, “where shall be weeping and gnashing of teeth;” when rather than that we should undergo them, “the Son of God” himself, who “thought it no robbery to be equal with God,” consented to take upon him our degraded nature with all its weaknesses and infirmities; to be “a man of sorrows,” “to hide not his face from shame and spitting,” “to be wounded for our transgressions, and bruised for our iniquities,” and at length to endure the sharpness of death, “even the death of the Cross,” that he might “deliver us from the wrath to come,” and open the kingdom of Heaven to all believers.
LOOKING UNTO JESUS!
Here best we may learn to grow in the love of God! The certainty of his pity and love towards repenting sinners, thus irrefragably demonstrated, chases away the sense of tormenting fear, and best lays the ground in us of a reciprocal affection. And while we steadily contemplate this wonderful transaction, and consider in its several relations the amazing truth, that “God spared not his own Son, but delivered him up for us all;” if our minds be not utterly dead to every impulse of sensibility, the emotions of admiration, of preference, of hope, and trust, and joy, cannot but spring up within us, chastened with reverential fear, and softened and quickened by overflowing gratitude. Here we shall become animated by an abiding disposition to endeavour to please our great Benefactor; and by a humble persuasion, that the weakest endeavours of this nature will not be despised by a Being, who has already proved himself so kindly affected towards us. Here we cannot fail to imbibe an earnest desire of possessing his favour, and a conviction, founded on his own declarations thus unquestionably confirmed, that the desire shall not be disappointed. Whenever we are conscious that we have offended this gracious Being, a single thought of the great work of Redemption will be enough to fill us with compunction. We shall feel a deep concern, grief mingled with indignant shame, for having conducted ourselves so unworthily towards one who to us has been infinite in kindness: we shall not rest till we have reason to hope that he is reconciled to us; and we shall watch over our hearts and conduct in future with a renewed jealousy, [Pg 243] lest we should again offend him. To those who are ever so little acquainted with the nature of the human mind, it were superfluous to remark, that the affections and tempers which have been enumerated, are the infallible marks and the constituent properties of Love. Let him then who would abound and grow in this Christian principle, be much conversant with the great doctrines of the Gospel.
It is obvious, that the attentive and frequent consideration of these great doctrines, must have a still more direct tendency to produce and cherish in our minds the principle of the love of Christ.”

William Wilberforce (1759–1833) English politician

Source: Real Christianity (1797), p. 240-243.

Love , Death , Wisdom , God

“Outside the firm, price movements direct production, which is co-ordinated through a series of exchange transactions on the market. Within a firm, these market transactions are eliminated and in place of the complicated market structure with exchange transactions is substituted the entrepreneur-coordinator, who directs production. It is clear that these are alternative methods of coordinating production. Yet, having regard to the fact that, if production is regulated by price movements, production could be carried on without any organization at all might we ask, why is there any organization?”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 388

“So true is it that all transactions of preeminent importance are wrapt in doubt and obscurity; while some hold for certain facts the most precarious hearsays, others turn facts into falsehood; and both are exaggerated by posterity.”

Tacitus book Annals

Book III, 19
Annals (117)
Variant: So obscure are the greatest events, as some take for granted any hearsay, whatever its source, others turn truth into falsehood, and both errors find encouragement with posterity.

“It is rather striking to think that the very core of the Christian message, salvation itself, the sacrifice of God's own son to rescue humanity from eternal damnation, should be framed in the language of a financial transaction.”

David Graeber (1961) American anthropologist and anarchist

Source: Debt: The First 5,000 Years (2011), Chapter Four, "Cruelty and Redemption", p. 80

God , Thinking

“Economic growth occurs if output grows faster than population. Given the described assumptions about the way people behave, economic growth will occur if property rights make it worthwhile to undertake socially productive activity. The creating, specifying and enacting of such property rights are costly… As the potential grows for private gains to exceed transaction costs, efforts will be made to establish such property rights. Governments take over the protection and enforcement of property rights because they can do it at a lower cost than private volunteer groups. However, the fiscal needs of government may induce the protection of certain property rights which hinder rather than promote growth; therefore we have no guarantee that productive institutional arrangements will emerge.”

Douglass C. North (1920–2015) American Economist

Source: The rise of the western world, 1973, p. 8

People , Way , Effort

“A common monetary standard will be established, with the consent of the various governments, by which industrial transactions will be greatly facilitated. Three spheres made respectively of gold, silver, and platinum, and each weighing fifty grammes, would differ sufficiently in value for the purpose. The sphere should have a small flattened base, and on the great circle parallel to it the Positivist motto would be inscribed. At the pole would be the image of the immortal Charlemagne, the founder of the Western Republic, and round the image his name would be engraved, in its Latin form, Carolus; that name, respected as it is by all nations of Europe alike, would be the common appellation of the universal monetary standard.”

Auguste Comte (1798–1857) French philosopher

Source: A General View of Positivism (1848, 1856), p. 430

Universe

“Why… are there any market transactions at all? Why not all production carried on by one big firm?… First, as a firm gets larger, there may be decreasing returns to the entrepreneur function, that is, the costs of organizing additional transactions within the firm may rise… Second, it may be that as the transactions which are organized increase, the entrepreneur fails to place the factors of production in the uses where their value is greatest, that is, fails to make the best use of the factors of production… Finally, the supply price of one or more of the factors of production may rise, because the "other advantages" of a small firm are greater than those of a large firm.”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 394-5

“By refusing to forgive, I give up all illusions. Why should I forgive, when no one is asking me to? I mean, my parents refuse to understand and to know what they did to me. So why should I go on trying to understand and forgive my parents and whatever happened in their childhood, with things like psychoanalysis and transactional analysis? What's the use? Whom does it help? It doesn't help my parents to see the truth. But it does prevent me from experiencing my feelings, the feelings that would give me access to the truth. But under the bell-jar of forgiveness, feelings cannot and may not blossom freely.”

Alice Miller (1923–2010) Swiss psychologist

Breaking Down the Wall of Silence (Abbruch der Schweigemauer) (1990)

Truth , Feeling , Forgiveness , Understanding

“The limit to the size of the firm is set where its costs of organizing a transaction become equal to the cost of carrying it out through the market. This determines what the firm buys, produces, and sells. As the concept of transaction costs is not usually used by economists, it is not surprising that an approach which incorporates it will find some difficulty in getting itself accepted. We can best understand this attitude if we consider not the firm but the market.”

Ronald H. Coase (1910–2013) British economist and author

1960s-1980s, "The Firm, the Market, and the Law" (1988)

Understanding

“When men take it in their heads to-day, to hang gamblers, or burn murderers, they should recollect, that, in the confusion usually attending such transactions, they will be as likely to hang or burn some one who is neither a gambler nor a murderer as one who is; and that, acting upon the example they set, the mob of to-morrow, may, and probably will, hang or burn some of them by the very same mistake. And not only so; the innocent, those who have ever set their faces against violations of law in every shape, alike with the guilty, fall victims to the ravages of mob law; and thus it goes on, step by step, till all the walls erected for the defense of the persons and property of individuals, are trodden down, and disregarded.”

Abraham Lincoln (1809–1865) 16th President of the United States

1830s, The Lyceum Address (1838)

Men , Law , Personality

“There is no horror, no cruelty, sacrilege, or perjury, no imposture, no infamous transaction, no cynical robbery, no bold plunder or shabby betrayal that has not been or is not daily being perpetrated by the representatives of the states, under no other pretext than those elastic words, so convenient and yet so terrible: "for reasons of state."”

Mikhail Bakunin (1814–1876) Russian revolutionary, philosopher, and theorist of collectivist anarchism

Source: Rousseau's Theory of the State (1873)
Context: We … have humanity divided into an indefinite number of foreign states, all hostile and threatened by each other. There is no common right, no social contract of any kind between them; otherwise they would cease to be independent states and become the federated members of one great state. But unless this great state were to embrace all of humanity, it would be confronted with other great states, each federated within, each maintaining the same posture of inevitable hostility. War would still remain the supreme law, an unavoidable condition of human survival.
Every state, federated or not, would therefore seek to become the most powerful. It must devour lest it be devoured, conquer lest it be conquered, enslave lest it be enslaved, since two powers, similar and yet alien to each other, could not coexist without mutual destruction.
The State, therefore, is the most flagrant, the most cynical, and the most complete negation of humanity. It shatters the universal solidarity of all men on the earth, and brings some of them into association only for the purpose of destroying, conquering, and enslaving all the rest. It protects its own citizens only; it recognises human rights, humanity, civilisation within its own confines alone. Since it recognises no rights outside itself, it logically arrogates to itself the right to exercise the most ferocious inhumanity toward all foreign populations, which it can plunder, exterminate, or enslave at will. If it does show itself generous and humane toward them, it is never through a sense of duty, for it has no duties except to itself in the first place, and then to those of its members who have freely formed it, who freely continue to constitute it or even, as always happens in the long run, those who have become its subjects. As there is no international law in existence, and as it could never exist in a meaningful and realistic way without undermining to its foundations the very principle of the absolute sovereignty of the State, the State can have no duties toward foreign populations. Hence, if it treats a conquered people in a humane fashion, if it plunders or exterminates it halfway only, if it does not reduce it to the lowest degree of slavery, this may be a political act inspired by prudence, or even by pure magnanimity, but it is never done from a sense of duty, for the State has an absolute right to dispose of a conquered people at will.
This flagrant negation of humanity which constitutes the very essence of the State is, from the standpoint of the State, its supreme duty and its greatest virtue. It bears the name patriotism, and it constitutes the entire transcendent morality of the State. We call it transcendent morality because it usually goes beyond the level of human morality and justice, either of the community or of the private individual, and by that same token often finds itself in contradiction with these. Thus, to offend, to oppress, to despoil, to plunder, to assassinate or enslave one's fellowman is ordinarily regarded as a crime. In public life, on the other hand, from the standpoint of patriotism, when these things are done for the greater glory of the State, for the preservation or the extension of its power, it is all transformed into duty and virtue. And this virtue, this duty, are obligatory for each patriotic citizen; everyone is supposed to exercise them not against foreigners only but against one's own fellow citizens, members or subjects of the State like himself, whenever the welfare of the State demands it.
This explains why, since the birth of the State, the world of politics has always been and continues to be the stage for unlimited rascality and brigandage, brigandage and rascality which, by the way, are held in high esteem, since they are sanctified by patriotism, by the transcendent morality and the supreme interest of the State. This explains why the entire history of ancient and modern states is merely a series of revolting crimes; why kings and ministers, past and present, of all times and all countries — statesmen, diplomats, bureaucrats, and warriors — if judged from the standpoint of simple morality and human justice, have a hundred, a thousand times over earned their sentence to hard labour or to the gallows. There is no horror, no cruelty, sacrilege, or perjury, no imposture, no infamous transaction, no cynical robbery, no bold plunder or shabby betrayal that has not been or is not daily being perpetrated by the representatives of the states, under no other pretext than those elastic words, so convenient and yet so terrible: "for reasons of state."

Betrayal

“To bringing about the scientific renaissance (In India) Sir Jagadish had influentially contributed. Indians are justly proud of the possession of a few men who have gained world-wide reputation in their particular fields of activity, and this pride reacts strongly on public opinion. At the Research Institute a group Indian post-graduate students devote their lives to research. The published Transactions of the Institute show that under the leadership of this eminent Bengali, Indian research is making substantial contribution to scientific knowledge, that in this field there is no fundamental difference between the Western and the Eastern mind, as was assumed when Sir Jagadish began his work.”

Jagadish Chandra Bose (1858–1937) Bengali polymath, physicist, biologist, botanist and archaeologist

By Times after the inauguration of the his research institute on 23rd November 1917.
Acharya Jagadish Chandra Bose in Vijayaprasara

World , Making love , Knowledge , Men

“Every relationship is transactional, whether it is a business relationship, a romantic relationship, a political relationship, a friendship, or a familial relationship.”

Teal Swan (1984) American spiritual teacher

Family , Friendship , Business

“Make your interactions with people transformational, not just transactional.”

Patti Smith (1946) American singer-songwriter, poet and visual artist

People

“If love does not know how to give and take without restrictions, it is not love, but a transaction that never fails to lay stress on a plus and a minus.”

Emma Goldman (1868–1940) anarchist known for her political activism, writing, and speeches

p. 219 http://www.gutenberg.org/files/2162/2162-h/2162-h.htm#emancipation
The Tragedy of Woman's Emancipation (1906)

Love

“Some cynical Frenchman has said that there are two parties to a love-transaction: the one who loves and the other who condescends to be so treated.”

William Makepeace Thackeray Vanity Fair

Vol. I, ch. 13.
Source: Vanity Fair (1847–1848)

Love

“Print is predictable and impersonal, conveying information in a mechanical transaction with the reader’s eye. Handwriting, by contrast, resists the eye, reveals its meaning slowly, and is as intimate as skin.”

Ruth Ozeki book A Tale for the Time Being

Source: A Tale for the Time Being

“He who every morning plans the transactions of that day and follows that plan carries a thread that will guide him through the labyrinth of the most busy life.”

Victor Hugo (1802–1885) French poet, novelist, and dramatist

Life , Business

“The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.”

Patrick Henry (1736–1799) attorney, planter, politician and Founding Father of the United States

Speech on the Federal Constitution, Virginia Ratifying Convention (Monday, 9 June 1788), as contained in The Debates in the Several State Conventions on the Adoption of the Federal Constitution: Volume 3, ed. Jonathan Elliot, published by the editor (1836), p. 170
1780s

People

“The Chartered ccountants by virtue of their qualifications, experience and training can render valuable services in these difficult times in areas which are vital to economic and industrial growth. It should be the duty of the members of the profession in the Northern India Regional Council, apart from examining accuracy of transactions, the modern auditor should also look into the propriety of such transactions… the profession has to develop uniform accounting principles, standard terminologies and precise definitions of various accounting concepts. This was desirable from the point of view of providing reliable information in the financial statements for the benefit of the intending investors, members of the public, government agencies and financial institutions. This will enable individuals and organisations to form a fairly accurate judgment of the financial position by a study of the audited financial statements of companies.”

Fakhruddin Ali Ahmed (1905–1977) the fifth President of India and a politician

Source: From the Desk of the Chairman... http://nirc-icai.org/Newsletter/NewsletterFebruary2012.pdf, Northern India Regional council of the ICAI, News Letter, February 2012

Study , Time , Training

“Corporations are going, we are told, to destroy the country. But what would this country be but for corporations? Who have developed it? Corporations. Who transact the most marvelous business the world has ever seen? Corporations.”

Jay Gould (1836–1892) American businessman

Interview with the New York Herald
Jay Gould : A Character Sketch (1893)

World , Business , Country

“The Intention and the End of Monarchy, is the Glory of the Citizens, of the State, and of the Sovereign.
But, from this Glory, a Sense of Liberty arises in a People governed by a Monarch; which may produce in these States as much Energy in transacting the most important Affairs, and may contribute as much to the Happiness of the Subjects, as even Liberty itself….”

Catherine the Great (1729–1796) Empress of Russia

Proposals for a New Law Code (1768)

People , Sense , Happiness

“We now come to the underpinning contention of the previous monograph. Psychological phenomena, especially those involved in learning and education, stem from or are related to states of consciousness. Using the argument which relates the information available about conscious processes to the type of experimental situation, we maintain that the basic unit of psychological /educational observation is a conversation. In order to test hypotheses and explicate the conversational transactions, it is necessary to invoke various tools and explanatory constructs. These are coherent enough to count when interlocked as a theory, and this theory was dubbed conversation theory.”

Gordon Pask (1928–1996) British psychologist

Source: Conversation Theory (1976), p. 3.

Education , Learning

“Saving faith is confidence in Jesus; a direct, confidential transaction with Him.”

Richard Fuller (minister) (1804–1876) United States Baptist minister

Source: Dictionary of Burning Words of Brilliant Writers (1895), P. 225.

Faith , Confidence

“[The same transactions are not always] entered in the same category for receiving and paying country.”

James Meade (1907–1995) British economist

Source: The balance of payments, 1951, p. 18, as cited in: Claude Gnos, ‎Sergio Rossi (2012), Modern Monetary Macroeconomics, p. 268

Country

“Harold, the young kids out there are not going to be willing to go to the barricades in defense of lowered transaction costs.”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

A Cost/Benefit Analysis of the Human Spirit : The Luddites Revisited (15 March 2003) http://www.lewrockwell.com/shaffer/shaffer39.html.

“I prefer thought to action, an idea to a transaction, contemplation to activity.”

Honoré de Balzac book Louis Lambert

Je préfère la pensée à l'action, une idée à une affaire, la contemplation au mouvement.
Louis Lambert (1832), as translated by Clara Bell

Idea

“Following the lead given by new institutional economics, we shall take the transaction as our unit of analysis. For our purposes, a transaction can be thought of as any act of social exchange that depends on information flows for its accomplishment. Transactions can be as simple and brief as the purchase of a packet of cigarettes, or as complex as and extended as those which bind a Zen master to his disciples. Like institutional economists, we are interested in the relationship that can be established between different transactional characteristics and the phenomenon of institutionalization. Our use of the term transaction, however, will extend beyond that of institutional economics where the focus has tended to be primarily on transaction costs and efficiency considerations. These, to be sure, are relevant. But, as we shall see, they are not the whole story.”

Max Boisot (1943–2011) British academic and educator

Source: Knowledge Assets, 1998, p. 124; As cited in: Ortiz et al. (2006)

Dependency

“I may have vetoed more legislation than the other forty-nine governors in the country combined. And it wasn't just saying, "no," it was really looking at what we were spending our money on and what we were getting for the money we were spending. And I really do believe in smaller government, I really believe that there are consequences of legislation that gets passed and maybe it isn't in our best interest to pass all the legislation that we pass, that it layers bureaucracy on transactions that aren't made any safer by you and I, but that just end up making it so much more cumbersome, so much more burdensome, and ends up adding a lot of money as opposed to the notion of liberty and freedom and the personal responsibility that goes along with that… My entire life I watched government spend more money than what it takes in and I just always thought that there would be a day of reckoning with regard to that spending, and I think that day of reckoning is here, that it's right now, and it needs to be fixed… But what I said then and I'll say now, I think that Republicans would gain a lot of credibility in this argument if Republicans would offer up a repeal of the Prescription Health Care Benefit that they passed when they had control of both houses of Congress and ran up record deficits.”

Gary Johnson (1953) American politician, businessman, and 29th Governor of New Mexico

Announcement of Intention to Run for the Republican Nomination for President of the United States
YouTube
2011-04-21
http://youtu.be/lBlA7yEiiZs
2012-02-24
Sound Government

Life , Money , Health , Thinking

“Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer—and the right answer—is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value…”

Milton Friedman (1912–2006) American economist, statistician, and writer

Source: Money Mischief (1992), Ch. 2 The Mystery of Money

Confidence , Thinking , Personality

“Organization aims to unite individuals into a body which shall work together for a common end. Specifically, organization prepares for the transaction of business by electing and appointing officers and committees, delegating authorities and bringing into systematic connection and cooperation, each and every part of the industrial body. Right organization, in short, puts vitality into the entire factory, secures the efficient working-together of all employees, from the manager's office to the mechanic's bench, routes materials, sub-divides work, inspects output and delivers the right goods, fully processed, at the shipping room door on the correct delivery date.”

Clinton Edgar Woods (1863) American engineer

Source: Industrial organization (1914), p. 24

Business , Parting

“Children learn the fundamental principles of natural law at a very early age. Thus they very early understand that one child must not, without just cause, strike or otherwise hurt, another; that one child must not assume any arbitrary control or domination over another; that one child must not, either by force, deceit, or stealth, obtain possession of anything that belongs to another; that if one child commits any of these wrongs against another, it is not only the right of the injured child to resist, and, if need be, punish the wrongdoer, and compel him to make reparation, but that it is also the right, and the moral duty, of all other children, and all other persons, to assist the injured party in defending his rights, and redressing his wrongs. These are fundamental principles of natural law, which govern the most important transactions of man with man. Yet children learn them earlier than they learn that three and three are six, or five and five ten. Their childish plays, even, could not be carried on without a constant regard to them; and it is equally impossible for persons of any age to live together in peace on any other conditions.

It would be no extravagance to say that, in most cases, if not in all, mankind at large, young and old, learn this natural law long before they have learned the meanings of the words by which we describe it. In truth, it would be impossible to make them understand the real meanings of the words, if they did not understand the nature of the thing itself. To make them understand the meanings of the words justice and injustice before knowing the nature of the things themselves, would be as impossible as it would be to make them understand the meanings of the words heat and cold, wet and dry, light and darkness, white and black, one and two, before knowing the nature of the things themselves. Men necessarily must know sentiments and ideas, no less than material things, before they can know the meanings of the words by which we describe them.”

Lysander Spooner (1808–1887) Anarchist, Entrepreneur, Abolitionist

Section IV, p. 9–10
Natural Law; or The Science of Justice (1882), Chapter I. The Science of Justice.

Men , Children , Truth , Age

“It has been uniformly laid down in this Court, as far back as we can remember, that good faith is the basis of all mercantile transactions.”

Sir Francis Buller, 1st Baronet (1746–1800) British judge

Salomons v. Nissen (1788), 2 T. R. 681.

Faith

“In the past several years, social work has increasingly focused on an ecological model. This model integrates both treatment and reform by conceptualizing and emphasizing the dysfunctional transactions between people and their physical and social environments. Human beings are viewed as developing and adapting through transactions with all elements of their environments. An ecological model gives attention to both internal and external factors. It does not view people as passive reactors to their environments but, rather, as being involved in dynamic and reciprocal interactions with them.”

Charles Zastrow (1942) American sociologist

Source: The practice of social work. (1995), p. 24

People , Past

“Better than big business is clean business.
To an honest man the most satisfactory reflection after he has amassed his dollars is not that they are many but that they are all clean.
What constitutes clean business? The answer is obvious enough, but the obvious needs restating every once in a while.
"A clean profit is one that has also made a profit for the other fellow."
This is fundamental moral axiom in business. Any gain that arises from another's loss is dirty.
Any business whose prosperity depends upon damage to any other business is a menace to the general welfare.
That is why gambling, direct or indirect, is criminal, why lotteries are prohibited by law, and why even gambling slot-machine devices are not tolerated in civilized countries. When a farmer sells a housekeeper a barrel of apples, when a milkman sells her a quart of milk, or the butcher a pound of steak, or the dry-goods man a yard of muslin, the housekeeper is benefited quite as much as those who get her money.
That is the type of honest, clean business, the kind that helps everybody and hurts nobody. Of course as business becomes more complicated it grows more difficult to tell so clearly whether both sides are equally prospered. No principle is automatic. It requires sense, judgment, and conscience to keep clean; but it can be done, nevertheless, if one is determined to maintain his self-respect. A man that makes a habit, every deal he goes into, of asking himself, "What is there in it for the other fellow?" and who refuses to enter into any transaction where his own gain will mean disaster to some one else, cannot go for wrong.
And no matter how many memorial churches he builds, nor how much he gives to charity, or how many monuments he erects in his native town, any man who has made his money by ruining other people is not entitled to be called decent. A factory where many workmen are given employment, paid living wages, and where health and life are conserved, is doing more real good in the world than ten eleemosynary institutions.
The only really charitable dollar is the clean dollar. And the nasty dollar, wrung from wronged workmen or gotten by unfair methods from competitors, is never nastier than when it pretends to serve the Lord by being given to the poor, to education, or to religion. In the long run all such dollars tend to corrupt and disrupt society.
Of all vile money, that which is the most unspeakably vile is the money spent for war; for war is conceived by the blundering ignorance and selfishness of rulers, is fanned to flame by the very lowest passions of humanity, and prostitutes the highest ideal of men; zeal for the common good; to the business of killing human beings and destroying the results of their collective work.”

Frank Crane (1861–1928) American Presbyterian minister

Four Minute Essays Vol. 5 (1919), Clean Business

Life , Men , Money , War

“Let us begin with the simplest illustration possible: let us, emulating Bastiat, choose a broken pane of glass.A young hoodlum, say, heaves a brick through the window of a baker’s shop. The shopkeeper runs out furious, but the boy is gone. A crowd gathers, and begins to stare with quiet satisfaction at the gaping hole in the window and the shattered glass over the bread and pies. After a while the crowd feels the need for philosophic reflection. And several of its members are almost certain to remind each other or the baker that, after all, the misfortune has its bright side. It will make business for some glazier. As they begin to think of this they elaborate upon it. How much does a new plate glass window cost? Fifty dollars? That will be quite a sum. After all, if windows were never broken, what would happen to the glass business? Then, of course, the thing is endless. The glazier will have $50 more to spend with other merchants, and these in turn will have $50 more to spend with still other merchants, and so ad infinitum. The smashed window will go on providing money and employment in ever-widening circles. The logical conclusion from all this would be, if the crowd drew it, that the little hoodlum who threw the brick, far from being a public menace, was a public benefactor.Now let us take another look. The crowd is at least right in its first conclusion. This little act of vandalism will in the first instance mean more business for some glazier. The glazier will be no more unhappy to learn of the incident than an undertaker to learn of a death. But the shopkeeper will be out $50 that he was planning to spend for a new suit. Because he has had to replace a window, he will have to go without the suit (or some equivalent need or luxury). Instead of having a window and $50 he now has merely a window. Or, as he was planning to buy the suit that very afternoon, instead of having both a window and a suit he must be content with the window and no suit. If we think of him as a part of the community, the community has lost a new suit that might otherwise have come into being, and is just that much poorer.The glazier’s gain of business, in short, is merely the tailor’s loss of business. No new “employment” has been added. The people in the crowd were thinking only of two parties to the transaction, the baker and the glazier. They had forgotten the potential third party involved, the tailor. They forgot him precisely because he will not now enter the scene. They will see the new window in the next day or two. They will never see the extra suit, precisely because it will never be made. They see only what is immediately visible to the eye.”

Henry Hazlitt book Economics in One Lesson

Economics in One Lesson (1946), The Broken Window (ch. 2)

Death , Money , People , Feeling

“Try to understand why a transaction makes sense to your counterparty....”

Eugene Rotberg (1930)

Understanding , Sense

“To summarize, the production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.”

Max Boisot (1943–2011) British academic and educator

Variant: To summarize, the production of information and its use in transactions both incur costs and are thus subject to economizing. In the 1970s, there occurred a revival of interest among economists in the economics of transaction, and Oliver Williamson in particular, building on the earlier work of Ronald Coase and John Commons, has explored the different institutional arrangements that govern transactional choices.
Source: Knowledge Assets, 1998, p. 235

“Human interactions, stimulated as they are by disequilibrium, never achieve balance. In even the most favorable transaction, one party—whether he realizes it or not—must always come out the worse.”

Jack Vance Dying Earth

"Morreion" (first published in Flashing Swords #1, March 1973), chapter 4
Dying Earth (1950-1984), Rhialto the Marvellous (1984)

“Faith is, indeed, most necessary in human affairs, as well as in religion Without faith, no contracts could be concluded, nor could any business be transacted. And without faith, where would be the basis for the divine reward of human merit? As it is, that faith which embraces the truths of religion deserves reward. Such faith is, according to the Apostle, "a substantiation of things to be hoped for, a testimonial to things that appear not."”

John of Salisbury English philosopher and theologian

Faith is intermediate between opinion and science. p. 223
The Metalogicon of John of Salisbury (1159)

Truth , Faith , Religion , Hope

“No more important development has taken place in the last year than the beginning of a restoration of agriculture to a prosperous condition. We must permit no division of classes in this country, with one occupation striving to secure advantage over another. Each must proceed under open opportunities and with a fair prospect of economic equality. The Government can not successfully insure prosperity or fix prices by legislative fiat. Every business has its risk and its times of depression. It is well known that in the long run there will be a more even prosperity and a more satisfactory range of prices under the natural working out of economic laws than when the Government undertakes the artificial support of markets and industries. Still we can so order our affairs, so protect our own people from foreign competition, so arrange our national finances, so administer our monetary system, so provide for the extension of credits, so improve methods of distribution, as to provide a better working machinery for the transaction of the business of the Nation with the least possible friction and loss. The Government has been constantly increasing its efforts in these directions for the relief and permanent establishment of agriculture on a sound and equal basis with other business.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

People , Law , Business , Support

“In a statesman’s transactions there are many things which cannot be communicated otherwise than by manner without inconvenient commitment or controversy; and that will be the most serviceable manner which can be expressive or inexpressive at pleasure, and be used as a dark lantern to his meanings.”

Henry Taylor (1800–1886) English playwright and poet

Source: The Statesman (1836), Ch. 31. p. 235

Pleasure , Communication

“Technology - and its relationship to organizational structures, processes, and outcomes - has long been of interest to organizational researchers. Over the years, different research perspectives on technology have developed in parallel with research perspectives on organizations - for example, contingency theory (Woodward 1965, Galbraith 1977, Carter 1984, Daft and Lengel 1986), strategic choice models (Child 1972, Buchanan and Boddy 1983, Davis and Taylor 1986, Zuboff 1988), Marxist studies (Braverman 1974, Edwards 1979, Shaiken 1985, Perrolle 1986), symbolic interactionist approaches (Kling 1991, Prasad 1993), transaction-cost economics (Malone et al. 1987, Ciborra 1993); network analyses (Barley 1990, Burkhardt and Brass 1990, Rice and Aydin 1991), practice theories (Suchman 1987, Button 1993, Hutchins 1995, Orr 1996), and structurational models”

Wanda Orlikowski American computer scientist

Barley 1986, Orlikowski 1992, DeSanctis and Poole 1994
Source: "Using technology and constituting structures", 2000, p. 404

Study

“The only American woman deserving a place on U. S. paper currency is, of course, Anne Hutchinson, a devout 17th century Protestant New Englander who was a fearless champion of religious liberty, family, free speech, and equality — not preference — for women in religious affairs. Perhaps a new piece of currency could be created, one to which the attachment of her portrait would do honor. Ms. Hutchinson, however, is out of contention in the Democrats’ virulent anti-Southern currency crusade because her character traits – and the fifteen children she had with one husband — just do not jive with being Modern Democratic Party Women, those who glory in, and seek legal, economic, and political preference for their talents in whining, vamping, aborting, as well as recognition for their indispensable and eagerly given help in making the United States one of the world’s industrial-scale producers of both pornography and the dismembered corpses of infants. There may be something that can be done, however. The portrait of another Democratic icon named Woodrow Wilson now adorns the $100,000 bill, which appears to be to be used mainly in transactions.”

Michael Scheuer (1952) American counterterrorism analyst

As quoted in Michael Scheuer's Non-Intervention http://non-intervention.com/1689/democrats-scourge-the-south-after-the-battle-flag-it%e2%80%99s-on-to-old-hickory/ (9 July 2015), by M. Scheuer.
2010s

Women , Children , World , Family

“The rule systems governing transactions among agents in a defined sphere specify, to a greater or lesser extent, who participates (and who is excluded), who does what, when, where and how, and in relation to whom. ln particular, they define possible rights and obligations, including rules of command and obedience, governing specified categories of actors or roles vis a vis one another. The theory deals with the properties of social rule systems, their role in patterning social life, and the social and political processes whereby such systems are produced, maintained, and transformed as well as implemented in social action and interaction.”

Tom R. Burns (1937) American sociologist

Source: The shaping of social organization (1987), p. 8; Cited in: Carola Aili, Pamela Denicolo, Lars-Erik Nilsson (2008) In Tension Between Organization and Profession. p. 228.

Life

“In the preface to the reissue of Risk, Uncertainty and Proﬁt, Frank Knight makes the penetrating observation that under the conditions envisaged above the velocity of circulation would become inﬁnite and so would the price level. This is perhaps an over-dramatic way of saying that nobody would hold money, and it would become a free good to go into the category of shell and other things which once served as money. We should expect too that it would not only pass out of circulation, but it would cease to be used as a conventional numeraire in terms of which prices are expressed. Interest bearing money would emerge. Of course, the above does not happen in real life, precisely because uncertainty, contingency needs, non-synchronization of revenues and outlay, transaction frictions, etc., etc., all are with us. But the abstract special case analyzed above should warn us against the facile assumption that the average levels of the structure of interest rates are determined solely or primarily by these differential factors. At times they are primary, and at other times, such as the twenties in this country, they may not be. As a generalization I should hazard the hypothesis that they are likely to be of great importance in an economy in which there is a “quasi-zero" rate of interest. I think by this hypothesis one can explain many of the anomalies of the United States money market in the thirties.”

Paul A. Samuelson book Foundations of Economic Analysis

Source: 1940s, Foundations of Economic Analysis, 1947, Ch. 5 : Theory of Consumer’s Behavior

Life , Money , Way , Thinking

“I have tried to show that psychiatric research can be empirical and experimental, controlled, and operational and not dependent on inferences, analogies, or anecdotes. Hypotheses can be derived which are testable. Theory is a different matter. At the present we rely heavily on psychoanalytic theory or on still poorly formulated and defined general systems theory, information theory, or transactional theory. To explain the depth and variety of the interrelationship of somatopsychosocial facets of the totality of human behavior in process requires a unified theory of human behavior which we have not yet even approached. Integration or synthesis of biological, psychological, and social theory is not enough.”

Roy R. Grinker, Sr. (1900–1993) American psychiatrist and neurologist

Ginker (1964) as cited in: S. Nassir Ghaemi (2009) The Rise and Fall of the Biopsychosocial Model. p. 24

Behavior , Dependency

“Industrial marketing should be understood as a relationship-specific rather than a transaction-specific construct.”

Christian Homburg (1962) German academic

Christian Homburg, and Bettina Rudolph. "Customer satisfaction in industrial markets: dimensional and multiple role issues." Journal of Business Research 52.1 (2001): 15-33.

“I fully realize that no wealth or position can long endure, unless built upon truth and justice, therefore, I will engage in no transaction which does not benefit all whom it affects.”

Napoleon Hill book Think and Grow Rich

Source: Think and Grow Rich (1938), p. 55

Truth , Justice , Wealth

“Money is only important for what it will procure. Thus a change in the monetary unit, which is uniform in its operation and affects all transactions equally, has no consequences. If, by a change in the established standard of value, a man received and owned twice as much money as he did before in payment for all rights and for all efforts, and if he also paid out twice as much money for all acquisitions and for all satisfactions, he would be wholly unaffected.”

John Maynard Keynes book Essays in Persuasion

Essays in Persuasion (1931), Social Consequences of Changes in The Value of Money (1923)

Money , Effort , Change

“I think that it must in every case depend upon the nature of the transaction, whether the fact not disclosed is such, that it is impliedly represented not to exist; and that must generally be a question of fact proper for a jury.”

Colin Blackburn, Baron Blackburn (1813–1896) British judge

Lee v. Jones (1864), 17 C. B. (N. S.) 506.

Question , Nature , Thinking , Dependency

“Last week I watched the Trooping the Colour and our young Queen riding at the head of her Guards. … Certainly no one of British race could contemplate such a spectacle without pride. But no thinking man or woman could escape the terrible question: on what does it all stand? It does indeed seem hard that the traditions and triumphs of a thousand years should be challenged by the ebb and flow of markets and commercial and financial transactions…and that we have to watch from month to month the narrow margins upon which our solvency and consequently our reputation and influence depend. But fifty million islanders growing food for only thirty millions, and dependent for the rest upon their exertions, their skill and their genius, present a problem which has not been seen or at least recorded before. In all history there has never been a community so large, so complex, so sure of its way of life, posed at such dizzy eminence and on so precarious a foundation.”

Winston S. Churchill (1874–1965) Prime Minister of the United Kingdom

Speech at the Savoy Hotel, London (11 June 1952), quoted in Winston Churchill, Stemming the Tide: Speeches 1951 and 1952 (London: Cassell & Co, 1953), pp. 298-299
Post-war years (1945–1955)

Life , Food , Way , History

“The size of a firm influences its competitive policies in a number of ways. In the first place the scale of its purchases and sales relative to the total volume of transactions in the firm's market is one indication of the extent of its market control. Taken in conjunction with other data it may throw a good deal of light on price and production policies. Certain authorities, on the other hand, brush aside figures on the relative size of firms as irrelevant and emphasize the decisive importance of the elasticity of the firm's demand curve. 3 It would no doubt be extremely convenient if economists knew the shape of individual demand and cost curves and could proceed forthwith, by comparisons of price and marginal cost, to conclusions regarding the existing degree of monopoly power. The extent to which the monopoly theorists, however, refrain from an empirical application of their formulae is rather striking.”

Edward S. Mason (1899–1992) American economist

Source: "Price and production policies of large-scale enterprise," 1939, p. 62

Way , Decision , Light

“All this (the early excitement of Cybernetics) is now history, and in the decade which elapsed since these early baby steps of interdisciplinary communication, many more threads were picked up and interwoven into a remarkable tapestry of knowledge and endeavour: Bionics. It is good omen that at the right time the right name was found. For, bionics extends a great invitation to all who are willing not to stop at the investigation of a particular function or its realization, but to go on and to seek the universal signiﬁcance of these functions in living or artiﬁcial organisms.
The reader who goes through the following papers which constitute the transactions of the ﬁrst symposium held under the name Bionics will be surprised by the multitude of astonishing and unforeseen connections between concepts he believed to be familiar with. For instance, a couple of years ago, who would have thought to relate the reliability problem to multi-valued logics; or, who would have thought that integral or differential geometry would serve as an adequate tool in the theory of abstraction? It is hard to say in all these cases who was teaching whom: The life-sciences the engineering sciences, or vice versa? And rightly so, for it guarantees optimal information ﬂow, and everybody gains…”

Heinz von Foerster (1911–2002) Austrian American scientist and cybernetician

Von Foerster (1960) as cited in Peter M. Asaro (2007). "Heinz von Foerster and the Bio-Computing Movements of the 1960s," http://cybersophe.org/writing/Asaro%20HVF%26BCL.pdf
1960s

Life , History , Communication , Optimism

“One of the first things they teach stockbrokers is to stay out of the stock market. Brokers make their pile from selling advice, and from commissions on stock transactions. They can't predict the market, and few risk their own money. They, at least, only affect their clients' fortunes. Economists, though, can ruin the lot of us with their advice — yet if no science can predict a relatively closed system like the stock market, how the devil are you going to 'fine tune' something a large as the American economy? I'd think it arrogant to try; as arrogant as the man with three illiterate drug-addicted spoiled brats writing a book on parenting.”

Jerry Pournelle (1933–2017) American science fiction writer and journalist

"The Voodoo Sciences" http://www.jerrypournelle.com/science/voodoo.html, 1988
Assorted

Money , Books , Thinking , Parent

“Information impactedness is a derivative condition that arises mainly because of uncertainty and opportunism, though bounded rationality is involved as well. It exists when true underlying circumstances relevant to the transaction, or related set of transactions, are known to one or more parties but cannot be costlessly discerned by or displayed for others.”

Oliver E. Williamson (1932) American economist

Oliver E. Williamson (1975) Markets and Hierarchies p. 31.

“All exchange stimulates productive activity, whether exchange by gift, gambling, barter, or money transaction.”

Aaron C. Brown (1956) American financial analyst

Source: The Poker Face of Wall Street (2006), Chapter 5, Pokernomics, p. 127

Money

“The idea is to generate paperwork. The word could hardly be more apt. Paper is work. Paper is the big employer. Someone fills out a form (in triplicate), someone files one copy, the other copy goes somewhere else to be filed by someone else, the third is retained by the customer for his records. The most insignificant transaction must be scrupulously recorded and logged, filed and stored, even, on occasion, retrieved. On a trip to Libya, p. 183.”

Geoff Dyer (1958) English writer

Yoga For People Who Can't Be Bothered To Do It (1993)

Idea

“Cooperation has a transactional nature, we agree it is a mutual good. Collaboration is deeper, we don’t know what the transaction is, or if there is one, but if I give of myself to this collaboration, some good will come out of it. You have to trust somebody to collaborate.”

Ward Cunningham (1949) American computer programmer who developed the first wiki

Crucible of Creativity (2005)

Nature

“Poetry, finally, is the form of art where not only are the unities of time, place, and action freed from the restrictive bounds of the single instant, the single spot, the single simple transaction, but the medium of embodiment is thought itself, with its completely articulate utterance in language. Here the very source of the ideal view of the world, the very origin of the creative artistic impulse, becomes the material and the instrument of its own purpose, the executor of its own will. The scope of the creative faculty is therefore the utmost conceivable, and poetry rightfully takes the highest place as the art of the greatest possibilities — the art, indeed, of an all-inclusive compass, as at length completely self-supplying and self-directing.”

George Holmes Howison (1834–1916) American philosopher

Source: The Limits of Evolution, and Other Essays, Illustrating the Metaphysical Theory of Personal Ideaalism (1905), The Art-Principle as Represented in Poetry, p.210

World , Art , Time

“I found it exhilarating to make the disparate and miscellaneous details presented in the investigation report something coherent, to organize them in accordance with the requirements of law as a musician organizes notes in accordance with the requirements of sonata form. Trying the case, I'd given shape to the chaos of reality, turned it into drama, with a plot, characters, dialogue, a climax, and a denouement, a cunning representation in the courtroom of the transaction outside the courtroom which constituted the subject matter of the case.”

Irving Younger (1932–1988) American lawyer

Some of My Life

Law , Reality

“Just as the Internet drops transaction and collaboration costs in business and government, it also drops the cost of dissent, of rebellion, and even insurrection.”

Don Tapscott (1947) Canadian businessman

Don Tapscott, in: M.I. Seka Life Lessons of Wisdom & Motivation - Volume III: Insightful, Enlightened and Inspirational quotations and proverbs http://books.google.co.in/books?id=K2DzAgAAQBAJ&pg=PA67, Providential Press, 28 February 2014, p. 67

Business

“[In order to define the distinction between a grant and an exchange transaction, Boulding has used the net worth criterion] If there is no decrease in the net worth of either party, the transaction is exchange; if there is, it contains some grant element and is an explicit or implicit grant.”

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

Source: 1970s, The Economy of Love and Fear, 1973, p. 88 as cited in: Omicron Delta Epsilon, Omicron Chi Epsilon (1997) The American economist. Vol. 41-42. p. 20

“Under norms of rationality, organizations seek to smooth out input and output transactions.”

James D. Thompson (1920–1973) American sociologist

Proposition 2.3
Organizations in Action, 1967

“It has been in accordance with these principles that we have made generous settlements of our foreign debts. The little sentiment of "live and let live" expresses a great truth. It has been thought wise to extend the payment of our debts over a long period of years, with a very low rate of interest, in order to relieve foreign peoples of the burden of economic pressure beyond their capacity to bear. An adjustment has now been made of all these major obligations, and they have all but one been mutually ratified. The moral principle of the payment of international debts has been preserved. Every dollar that we have advanced to these countries they have promised to repay with some interest. Our National Treasury is not in the banking business. We did not make these loans as a banking enterprise. We made them to a very large extent as an incident to the prosecution of the war. We have not sought to adjust them on a purely banking basis. We have taken into consideration all the circumstances and the elements that attended the original transaction and all the results that will probably flow from their settlement. They have been liquidated on this broad moral and humanitarian basis. We believe that the adjustments which have been made will be mutually beneficial to the trade relations of the countries involved and that out of these economic benefits there will be derived additional guaranties to the stability and peace of the world.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Ways to Peace (1926)

War , People , Truth , World

“…what is the constitutional bearing of these stipulations? …It is perfectly monstrous…It means that we abandon our fiscal independence, together with our free-trade ways; that we subside into the tenth part of a Vehmgericht which is to direct us what sugar is to be countervailed, at what rate per cent. we are to countervail it, how much is to be put on for the bounty, and how much for the tariff being in excess of the convention tariff; and this being the established order of things, the British Chancellor of the Exchequer in his robes obeys the orders that he receives from this foreign convention, in which the Britisher is only one out of ten, and the House of Commons humbly submits to the whole transaction. ("Shame.") Sir, of all the insane schemes ever offered to a free country as a boon this is surely the maddest.”

Henry Campbell-Bannerman (1836–1908) Former Prime Minister of the United Kingdom

Cheers.
Speech to the Cobden Club denouncing the Brussels sugar convention (28 November 1902), quoted in The Times (29 November 1902), p. 12
Leader of the Opposition

Way , Parting , Housing , Country

“It is a rule that those who come into a Court of justice to seek redress, must come with clean hands, and must disclose a transaction warranted by law.”

Lloyd Kenyon, 1st Baron Kenyon (1732–1802) British Baron

Petrie v. Hannay (1789), 3 T. R. 422.

Justice , Law

“What kind of political order, then, is taking shape in Europe, 15 years after Maastricht? The pioneers of European integration – Monnet and his fellow spirits – envisaged the eventual creation of a federal union that would one day be the supranational equivalent of the nation-states out of which it emerged, anchored in an expanded popular sovereignty, based on universal suffrage, its executive answerable to an elected legislature, and its economy subject to requirements of social responsibility. In short, a democracy magnified to semi-continental scale (they had only Western Europe in mind). But there was always another way of looking at European unification, which saw it more as a limited pooling of powers by member governments for certain – principally economic – ends, that did not imply any fundamental derogation of national sovereignty as traditionally understood, but rather the creation of a novel institutional framework for a specified range of transactions. De Gaulle famously represented one version of this outlook; Thatcher another. Between these federalist and inter-governmentalist visions of Europe, there has been a continual tension down to the present.”

Perry Anderson (1938) British historian

"Depicting Europe", London Review of Books (20 September 2007)

Way , Democracy , Universe

“Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. … At the end of the day, why should only politicians—either directly or indirectly—control the currency? We can reduce transaction cost, provide an alternative, and—look, I don't know whether it'll be Bitcoin or not—but I think the concept of digital currencies is here to stay, and the fact that a politician would write to try to ban them in their infancy is just the wrong way to go about it. Let the market determine whether there's any value there or not. … If people are saying, "Look, we gotta ban Bitcoin because it's somewhat anonymous and anonymous transactions can occur," or "because it's possible for criminals to use it," all of those arguments can be used to say, "Just ban dollars."”

Jared Polis (1975) American entrepreneur, philanthropist, and US Representative

… The government doesn't need to "treat" it [Bitcoin] at all. … The government policy should be completely agnostic about what unit of exchange is used.
Jared Polis, interviewed by Kennedy, Matt Welch, and Kmele Foster on The Independents, Fox Business (10 March 2014).

People , Way , Thinking

“We shall also concern ourselves with the institutional order built up from transactions, but our focus will be less narrowly economic than the one adopted by Williamson. Like him, we shall argue that institutional structures aim partly at achieving transactional efficiencies and that where such efficiencies are effectively achieved they act somewhat like a magnetic field – a mathematician would call them ‘attractors’ – drawing the uncommitted transaction into a given institutional orbit. Yet in contrast to Williamson’s, our concept of transactions is underpinned by an explicit rather than an implicit theory of information production and exchange which yields a different way of classifying them as well as a distinctive approach to their governance. We find ourselves in consequence in the realm of political economy rather than of economics tout court.”

Max Boisot (1943–2011) British academic and educator

Source: Information Space, 1995, p. 235

Way , Drawing

“At the level of firms, therefore, only those whose cultural repertoire gives them transactional capacity throughout the I-Space can summon and adequate learning response to any emerging gaps between technology and culture. Those operating from too narrow a cultural base in the space, however, must of necessity lose control of the SLC unless they can complement their limited cultural repertoire through carefully selected interfirm and intercultural collaborations – i. e. through an externalization of transactions that link them with agents located elsewhere in the space. However, they will then confront the same problems of integration that more culturally diverse firms encounter inside their organization when trying to coordinate the activities of different functions or businesses. There is no cheap grace.”

Max Boisot (1943–2011) British academic and educator

Source: Knowledge Assets, 1998, p. 151; As cited in: Ortiz et al. (2006)

Business , Problem , Learning

“As with all theories, we can learn something from agency theory and transaction-costs economics, since they emphasize something others hide. But as with all theories, they also distort; in fact, I will argue that their distortions outweigh the value of what they highlight.”

Charles Perrow (1925–2019) American sociologist

Source: 1970s, Complex organizations, 1972, p. 220

Learning

“Each of these smaller corporations… to which an Athenian citizen belonged, had… business of its own—money to spend, officers to appoint, rules to make—very similar to that which the state transacted on a larger scale. And it is not to be supposed that Athenians were at all ashamed to take part in such minor business, as English gentlemen are to sit on a vestry or a town council. On the contrary, a large part of the population left their private affairs for slaves to manage, and devoted themselves entirely to their public duties.”

James Gow (scholar) (1854–1923) scholar

p, 125
A Companion to School Classics (1888)

Money , Business , Parting

“Wealthy investors should realize that they are the cash cows of the investment industry, and that most of the exclusive investment vehicles available to them - separate accounts, hedge funds, limited partnerships, and the like - are designed to bleed them with commissions, transactional costs, and other fees.”

William J. Bernstein (1948) economist

Source: The Four Pillars of Investing (2002), Chapter 8, Behavioral Therapy, p. 187.

Partnership

“Of all the principles, gentlemen, of foreign policy which I attach the greatest value is the principle of the equality of nations; because, without recognising that principle, there is no such thing as public right, and without public international right there is no instrument available for settling the transactions of mankind except material force. Consequently, the principle of equality among nations lies, in my opinion, at the very basis and root of a Christian civilisation, and when that principle is compromised or abandoned, with it must depart our hopes of tranquillity and of progress for mankind.”

William Ewart Gladstone (1809–1898) British Liberal politician and prime minister of the United Kingdom

Speech in West Calder, Scotland (27 November 1879), quoted in W. E. Gladstone, Midlothian Speeches 1879 (Leicester University Press, 1971), p. 123.
1870s

Hope

“It has often been matter of regret in modern times that, in the construction of the Statute of Limitations, the decisions had not proceeded upon principles better adapted to carry into effect the real objects of the Statute; that instead of being viewed in an unfavourable light as an unjust and discreditable defence, it had not received such support as would have made it what it was intended to be, emphatically a Statute of repose. It is a wise and beneficial law, not designed merely to raise a presumption of payment of a just debt from lapse of time, but to afford security against stale demands after the true state of the transaction may be forgotten, or be incapable of explanation by reason of the death or removal of witnesses.”

Joseph Story (1779–1845) US Supreme Court justice

Bell v. Morrison, 1 Peters, Sup. C. Rep. (U. S.) 360 (1828).

Death , Law , Support , Decision

“These individual actions are really trans-actions instead of either individual behavior or the "exchange" of commodities. It is this shift from commodities and individuals to transactions and working rules of collective action that marks the transition from the classical and hedonic schools to the institutional schools of economic thinking. The shift is a change in the ultimate unit of economic investigation. The classic and hedonic economists, with their communistic and anarchistic offshoots, founded their theories on the relation of man to nature, but institutionalism is a relation of man to man. The smallest unit of the classic economists was a commodity produced by labor. The smallest unit of the hedonic economists was the same or similar commodity enjoyed by ultimate consumers. One was the objective side, the other the subjective side, of the same relation between the individual and the forces of nature. The outcome, in either case, was the materialistic metaphor of an automatic equilibrium, analogous to the waves of the ocean, but personified as "seeking their level." But the smallest unit of the institutional economists is a unit of activity -- a transaction, with its participants. Transactions intervene between the labor of the classic economists and the pleasures of the hedonic economists, simply because it is society that controls access to the forces of nature, and transactions are, not the "exchange of commodities," but the alienation and acquisition, between individuals, of the rights of property and liberty created by society, which must therefore be negotiated between the parties concerned before labor can produce, or consumers can consume, or commodities be physically exchanged.”

John R. Commons (1862–1945) United States institutional economist and labor historian

"Institutional Economics," 1931

Pleasure , School , Behavior , Nature

“20 years ago it would not have been possible for the world's economy to be run using a “mark.” Computer chip implants are now common and it is totally possible to eliminate cash, credit cards, checks, debit cards and go to all electronic transactions. Anyone who doesn't “go along to get along” will not be welcome on the planet. Have you seen the commercials where everyone is dancing smoothly through the checkout line buying their food until one idiot wants to pay with CASH? It “messes up the smooth flow” of things for everyone. Those commercials are psychological preparations for people to accept the mark. Watch for many more to be on TV!”

Kent Hovind (1953) American young Earth creationist

Source: What On Earth Is About To Happen… For Heaven’s Sake? (2013), p. 145

People , World , Food , Dance

“The very being of music is created by cognitive attributions made by individual perceiving or conceiving imaginers, in individual acts of perceiving or conceiving--that, in fact, the only real music 'theory' IS the creative-intellectual transaction which ontologizes music itself.”

Benjamin Boretz (1934) American composer

from Meta-Variations: studies in the foundations of musical thought Red Hook, N.Y. : Open Space, 1995.

Music , Imagination

“The president's linguistic infelicities—a word salad, at times—have given the press popinjays and their Washington overlords the foothold needed to go after the president. Throw in the 'bad' habits of a businessman he has retained. Trump transacts with everyone—Russians too. We voted for deals, not wars. This is the sum and substance of President Trump's offenses. That, and beating Hillary Clinton to the White House.”

Ilana Mercer South African writer

"Trump Fends Off 'Showboat' Comey And The Federal Zombies," http://www.americanthinker.com/blog/2017/06/trump_fends_off_showboat_comey_and_the_federal_zombies.html The American Thinker, June 9, 2017.
2010s, 2017

War , Time , Housing

“By the structure of society, I mean the institutional and ideological presuppositions that shape the routine practices, conflicts, and transactions in that society, and that are largely taken for granted, even to the point of being invisible, as if they were part of the nature of things. In a free society, this institutional and ideological framework does not present itself as an alien fate beyond the reach of the transformative will and imagination.”

Roberto Mangabeira Unger The Religion of the Future

Source: The Religion of the Future (2014), p. 295

Fate , Imagination , Nature , Parting

“The fundamental idea of transaction costs is that they consist of the cost of arranging a contract ex ante and monitoring and enforcing it ex post, as opposed to production costs, which are the costs of executing a contract.”

R. C. O. Matthews (1927–2010) British economist

Source: "The Economics of Institutions and the Sources of Growth." 1986, p. 904; as cited in Eggertsson (1990; 14)

Idea

“Seeking Brahman in world transactions,
Seeking Brahman in all JIva forms,
Feeling Brahman in body and sense experiences,
This is the secret of salvation – Mankuthimma.”

D. V. Gundappa (1887–1975) Indian writer

A Kagga {Quatrian) of Manku Thimmana Kagga in pages=191-92
The Wisdom Of Vasistha A Study On Laghu Yoga Vasistha From A Seeker`S Point Of View

Secret , World , Feeling , Sense

“You have all Manner of News there: You have a good Fire, which you may sit by as long as you please: You have a Dish of Coffee; you meet your Friends for the Transaction of Business, and all for a Penny, if you don't care to spend more.”

Maximilien Misson (1650–1722) writer

speaking of London coffeehouses in the late 1600s
[Drummond, J.C., Wilbraham, Anne, The Englishman's food: a history of five centuries of English diet., 1957, Cape, London, 978-0224601689, 116, Rev. ed.] This source cites Misson; citation needed for original statement.

Coffee , Business

“If the Bank really has development at heart, it will change the conditionalities away from privatization, deregulation and lower corporate taxation and put the emphasis on reducing military expenditures, ensuring that progressive tax legislation is enacted and enforced, that tax havens are outlawed, and that a financial transactions tax is adopted and the revenues used to build “A World Free of Poverty” through international solidarity.”

Alfred de Zayas (1947) American United Nations official

Report of the Independent Expert on the adverse impact of World Bank policies on human rights and the realisation of a democratic and equitable international order
2017, Report submitted to the UN Human Rights Council

World , Change , Heart

“By one estimate, 90% of international transactions were accounted for by trade before 1970, and only 10% by capital flows. Today, despite a vast increase in global trade, that ratio has been reversed, with 90% of transactions accounted for by financial flows not directly related to trade in goods and services.”

Didier Sornette (1957) French scientist

Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 8, Bubbles And Crashes In Emergent Markets, p. 304.

“The underlying principle of Balance in Nature’s One Law is equality of interchange between the pairs of opposites in any transaction in Nature. That principle must eventually be observed by big business, and the go-getter salesman who selfishly thinks that the sale he makes is the only thing that counts is not giving equally for what he takes.”

Walter Russell (1871–1963) American philosopher

The Man who Tapped the Secrets of the Universe

Law , Business , Nature , Thinking

“The biological organism and the social persona are profoundly different social constructions. The different systems of social practices, including discourse practices, through which these two notions are constituted, have their meanings, and are made use of, are radically incommensurable. The biological notion of a human organism as an identifiable individual unit of analysis depends on the specific scientific practices we use to construct the identity, the boundedness, the integrity, and the continuity across interactions of this unit. The criteria we use to do so: DNA signatures, neural micro-anatomy, organism-environment boundaries, internal physiological interdependence of subsystems, external physical probes of identification at distinct moments of physical time -- all depend on social practices and discourses profoundly different from those in terms of which we define the social person.
The social-biographical person is also an individual insofar as we construct its identity, boundedness, integrity, and continuity. But the social practices and discourses we deploy in these constructions are quite different. We define the social person in terms of social interactions, social roles, socially and culturally meaningful behavior patterns. We construct from these notions of the personal identity of an individual the separateness and independence of that individual from the social environment with which it transacts, the internal unity or integrity of the individual as a consistent persona, and the continuity of that persona across social interactions.”

Jay Lemke (1946) American academic

Source: Textual politics: Discourse and social dynamics, 1995, p. 68

Behavior , Time , Dependency , Personality

“The manner of the transaction was to gild over and conceal the truth; and whenever Courts of law see such attempts made to conceal such wicked deeds they will brush away the cobweb varnish and show the transactions in their true light.”

John Eardley Wilmot (1709–1792) English judge

2 Wils. 349.
Collins v. Blantern (1767)

Truth , Law , Light

“When a user uses the system, she or he will perform a behaviorally related sequence of transactions in a dialogue with the system. We call such a special sequence a use case.”

Ivar Jacobson (1939) Swedish computer scientist

Source: Object-Oriented Software Engineering: A Use Case Driven Approach (1992), p. 127; as cited in: Journal of Object-oriented Programming Vol 10, Nr 2-9. p. 32.

Behavior