"But the system of prices ruling the market not only transmits information in the light of which economic agents can mutually adjust their actions, it also provides them with an incentive to exercise economy in terms of money."

--

Source : Michael Polanyi (1962). “The Republic of Science, Its Political and Economic Theory: A Lecture Delivered at Roosevelt University, January 11, 1962”

Michael Polanyi

#Exercise Quotes #Light Quotes #Agents Quotes

“There was no short answer to this; like so much else, it was a long story. But what really makes any story real is knowing someone will hear it. And understand.”
“Leonardo's Mona Lisa sure would have lost out if he had spent only 2 of the 4 or 5 years he took to complete it. It is thinking about him and Ryder, among others, that partly makes me feel so awful to send away a 'half-baked' painting.”
“Creativity is like chasing chickens.”
“There are certain crimes that are simply too cruel, too sadistic, too hideous to be forgiven.”
“I don't think that everyone should become a mathematician, but I do believe that many students don't give mathematics a real chance. I did poorly in math for a couple of years in middle school; I was just not interested in thinking about it. I can see that without being excited mathematics can look pointless and cold. The beauty of mathematics only shows itself to more patient followers.”

Source : "There Is No Real Life". Interview with Brad Fox, www.guernicamag.com. March 15, 2013.
“Even wisdom has to yield to self-interest.”
“I assure Romanians that once I return... I will try and generate a sentiment of reconciliation in society. Divisions in society must be stopped, they must be annihilated, because Romania needs all its energy to... integrate into the civilized world.”
“You can pick captains, but you can't pick leaders. Whoever controls the locker room controls the team”

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