Frank Hyneman Knight Quotes (5 Quotes)

Large scale collective bargaining ... is merely a seductive name for bilateral monopoly, and means either adjudication of conflicts in terms of power, or deadlock and stoppage, usually injuring outside people more than the immediate parties to the dispute.

Market competition is the only form of organization which can afford a large measure of freedom to the individual.

If all properly economic problems were solved once for all ... the social struggle and strife would ... not necessarily be reduced in amount or intensity ... in the absence of some moral revolution which could by no means be assumed to follow in consequence of this change itself.

Conflicting economic interest is relatively unimportant as a cause of war.

The truth seems ... to be that in the ultimate and essential problem the economic factor is relatively superficial and unimportant.