Quote of the Day for September 2, 2014


Birthday of Henry George (1839-1897).
245: From Knight, Risk, Uncertainty, and Profit, Part III, Chapter IX:

    We do not need to strain the imagination by supposing supernatural powers of prescience on the part of men. We can think of the adjustment as the result of a long process of experimentation, worked out by trial-and-error methods alone. If the conditions of life and the people themselves were entirely unchanging a definite organization would result, perfect in the sense that no one would be under an incentive to change. So in the organization of the productive groups, it is not necessary to imagine every worker doing exactly the right thing at the right time in a sort of "preŰstablished harmony" with the work of others. There might be managers, superintendents, etc., for the purpose of co÷rdinating the activities of individuals. But under conditions of perfect knowledge and certainty such functionaries would be laborers merely, performing a purely routine function, without responsibility of any sort, on a level with men engaged in mechanical operations.

    III.IX.6 (paragraph number)

    View Card Catalog for this quote