Keynes and Hayek Quotes

“The human mind creates a fundamental problem for human existence. The mind can always imagine a better state of the world than currently exists.  This poses a problem because it means that humans can never be perfectly content with the present state of affairs.”
― Thomas Dalton, Keynes and Hayek: The Meaning of Knowing: The Roots of the Debate - Second Edition -

“Institutions are the humanly devised constraints that structure human interaction. They are made up of formal constraints (rules, laws, constitutions), informal constraints (norms of behavior, conventions, and self imposed codes of conduct), and their enforcement characteristics. Together they define the incentive structure of societies and specifically economies.”[v]”
― Thomas Dalton, Keynes and Hayek: The Meaning of Knowing: The Roots of the Debate - Second Edition -

“The difference between simplicity and disorganized complexity is that individual interactions can be learned in simplistic systems but only probabilities of disorganized-complex interactions can be known.”
― Thomas Dalton, Keynes and Hayek: The Meaning of Knowing: The Roots of the Debate - Second Edition -