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Theory Quotes

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Theory Quotes

“To plead the organic causation of a religious state of mind, then, in refutation of its claim to possess superior spiritual value, is quite illogical and arbitrary, unless one have already worked out in advance some psycho-physical theory connecting spiritual values in general with determinate sorts of physiological change. Otherwise none of our thoughts and feelings, not even our scientific doctrines, not even our dis -beliefs, could retain any value as revelations of the truth, for every one of them without exception flows from the state of their possessor's body at the time.”

“The economic and social theories used by those who take part in the social struggle ought to be judged not by their objective value but primarily for their effectiveness in arousing emotions. The scientific refutation of them which can be made is useless, however correct it may be objectively.”

“Voltaire remarked that it is possible to kill a flock of sheep by witchcraft if you give them plenty of arsenic at the same time. The sheep, in this figure, may well stand for the complacent apologists of capitalism; Marx's penetrating insight and bitter hatred of oppression supply the arsenic, while the labour theory of value provides the incantations.”

“Monopolies are not justified by theory; they should be permitted only when justified by facts. If there is no solid basis for extending a certain monopoly protection, then we should not extend that protection. This does not mean that every copyright must prove its value initially. That would be a far too cumbersome system of control. But it does mean that every system or category of copyright or patent should prove its worth. Before the monopoly should be permitted, there must be reason to believe it will do some good -- for society, and not just for monopoly holders.”

“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.”

“Ruskin's much-derided moral theory of art was part of an attempt to show that this human activity, which we value so highly, engaged the whole of human personality. His insistence on the sanctity of nature was part of an attempt to develop Goethe's intuition that form cannot be put together in the mind by an additive process, but is to be deduced from the laws of growth in living organisms, and their resistance to the elements.”

“Most of Marx's predictions have failed to materialize, and his labor theory of value and other ideas have been proven wrong. Marx failed to recognize the incentive system built into the capitalist model - consumer choice and the profit motive of the entrepreneur. The irony is that capitalism, not socialism or Marxism, that has liberated the worker from the chains of poverty, monopoly, war, and oppression, and has better achieved Marx's vision of a millennium of hope, peace, abundance, leisure, and aesthetic expression for the 'full' human being.”

“As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to our clients for a quarter century-a dollar invested at inception in our largest fund is now worth over 94 dollars, a 20% net compound return. We have achieved this not by incurring high risk as financial theory would suggest, but by deliberately avoiding or hedging the risks that we identified.”

“The possibility that stock value in aggregate can become irrationally high is contrary to the hard-form "efficient market" theory that many of you once learned as gospel from your mistaken professors of yore. Your mistaken professors were too much influenced by "rational man" models of human behavior from economics and too little by "foolish man" models from psychology and real-world experience.”

“There may be rhetoric about the socially constructed nature of Western science, but wherever it matters, there is no alternative. There are no specifically Hindu or Taoist designs for mobile phones, faxes or televisions. There are no satellites based on feminist alternatives to quantum theory. Even that great public sceptic about the value of science, Prince Charles, never flies a helicopter burning homeopathically diluted petrol, that is, water with only a memory of benzine molecules, maintained by a schedule derived from reading tea leaves, and navigated by a crystal ball.”

“I had made considerable advance ... in calculations on my favourite numerical lunar theory, when I discovered that, under the heavy pressure of unusual matters (two transits of Venus and some eclipses) I had committed a grievous error in the first stage of giving numerical value to my theory. My spirit in the work was broken, and I have never heartily proceeded with it since.”

“Philosophers (and probably most intellectuals) are more interested in pursuing what they see as the logical implications of their theories than they are in paying attention to the shlumpy diversity of defensible values that people actually have, and then trying to figure out how these might be negotiated in the life of an agent or community.”

“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.”