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Theory Quotes

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Theory Quotes

“The Austrian theory of subjective value teaches us that there are many ways to incentivize or motivate or induce someone to commit an action for you: you can promise sexual favors, promise to pay money, hire someone, and so on. Also, there is no reason to think that both the boss and his underling cannot both be 100% responsible: in the law this is called joint and several liability.”

“The theory of government I was taught says that government provides benefits, primarily security, to the entire population. In return we pay taxes. But lately the government has been a distributor of special privileges, taking money from some and giving it to others. America is now about evenly split between those who pay income taxes and those who consume them.”

“It is rational to choose the right means to your ends to develop very elegant abstract formal theories of rational choice, and then turn these into what look like moral theories. Philosophers tend to be ravished by the formal beauty of such theories, and they don't pay much attention to the fact that our human limitations make them pretty useless in practice, while the simple point about instrumental reasoning is too shallow to be of much real moral interest.”

“Neither capitalism nor socialism is capable of meeting our unprecedented global challenges. Both came out of early industrial times, and we are now well into the post-industrial age. Both came out of times when the West still oriented much more to the domination side of the social scale, so both these theories did not pay attention to caring for people and nature.”

“My primary early interest was in marketing and my aim was to improve its theories, methods and tools. Early on I pressed companies to adopt a consumer orientation and to be in the value creation business. I didn't pay much attention to the social responsibilities of business until later. Now I am pressing companies to address the triple bottom line: people, the planet, and profits. I found that companies were too much into short term profit maximization and they needed to invest more in sustainability thinking.”