Frank Knight Quotes

A collection of quotes by Frank Knight.

Frank Knight (1885-1972) was an American economist and professor at the University of Chicago. He is best known for his work in the field of economics and his contributions to the theory of entrepreneurship. Knight's book "Risk, Uncertainty, and Profit" (1921) played a significant role in shaping our understanding of the role of uncertainty in economic decision making. He argued that entrepreneurs make decisions under conditions of uncertainty, which distinguishes them from pure risk-takers. Knight's work greatly influenced the Chicago School of economics and his contributions continue to be influential in the field.

All science is static in the sense that it describes the unc

All science is static in the sense that it describes the unchanging aspects of things.

Frank Knight

Science

It is true practically if not altogether without exception t

It is true practically if not altogether without exception that the changes studied by any science tend to equilibrate or neutralize the forces which bring them about, and finally to come to rest.

Frank Knight

Change Science Rest Force