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Joseph Schumpeter

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In economic life competition is never completely lacking, but hardly ever is it perfect.
Part IV, Chapter XXII, pg 271

Joseph Schumpeter

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The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth.

George Reisman

It is probable that when future historians of economic thought look back over this century, the thirties will appear as an era of rapid development in economic theory. Not only has there been unusual activity in monetary theory, theory of value. but extensive transformations have also been made in the basic theory of value. The outstanding publications in this field are, of course, Joan Robinson's Theory of Imperfect Competition and Chamberlin's Theory of Monopolistic Competition, the first produced in Cambridge, England, and the second in Cambridge, Massachusetts. These volumes mark the explicit recognition of the theory of the firm as an integral division of economic analysis upon which rests the whole fabric of equilibrium theory. General equilibrium is nothing more than the problem of the interaction of individual economic organisms, under various conditions and assumptions; as a necessary preliminary to its solution, an adequate theory of the individual organism itself is necessary.

Kenneth Boulding

It would clearly not be an improvement to build all houses exactly alike in order to create a perfect market for houses, and the same is true of most other fields where differences between the individual products prevent competition from ever being perfect.

Friedrich Hayek

In view of the importance of philanthropy in our society, it is surprising that so little attention has been given to it by economic or social theorists. In economic theory, especially, the subject is almost completely ignored. This is not, I think, because economists regard mankind as basically selfish or even because economic man is supposed to act only in his self-interest; it is rather because economics has essentially grown up around the phenomenon of exchange and its theoretical structure rests heavily on this process.

Kenneth Boulding

So remember, we have to find God, that person who is perfect; He is ours and we are His, and we have to find Him ... So remember: we are part of Him who has manifested Himself as a Guru and who has come into this earth, and now we have to be one with Him. We have to completely merge and make our souls one with Him because He is perfect, and once we merge with Him we will also be perfect ... So if you go to Him, ask. Ask and it shall be given, knock and it shall be opened unto you.

Maharaji (Prem Rawat)
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