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	Risk, Uncertainty and Profit
		Frank H. Knight has been called "among the most broad-ranging and influential economists of the twentieth century" and "one of the most eclectic economists and perhaps the deepest thinker and scholar American economics has produced." He stands among the giants of American economists that include Schumpeter and Viner.
		Frank H. Knight was one of the founders of the so-called Chicago school of economics, of which Milton Friedman and George Stigler were the leading members from the fifties to the eighties.
		Knight was an economics professor at the University of Chicago from 1927 until 1955, after which he was emeritus professor until his death.
	www.beardbooks.com /beardbooks/risk_uncertainty_and_profit.html (2286 words)

	The heterodox economics of "the most orthodox of orthodox economists": Frank H. Knight American Journal of Economics ...
		Though Knight shared the view that economic behavior was identical with rational behavior (1956, 127), and in spite of the fact that Knight made extensive use of the concept of "economic man" himself, he nonetheless indicated a rather significant role for "irrational" factors in the determination of human behavior.
		Knight therefore insisted that economics must be based upon the examination of the choices of rational maximizers and, that in doing so, it was able to forge an "exact" science, "which reaches laws as universal as those of mathematics and mechanics" (1976, 135).
		Knight's criticism was not, therefore, that the development of economics was misguided or impossible but rather that there were significant limitations to the applicability or usefulness of the economic view of conduct.
	www.findarticles.com /p/articles/mi_m0254/is_n3_v56/ai_20243381 (867 words)

	Review: Selected Essays by Frank H. Knight: Volumes 1 and 2
		Knight does not suffer fools gladly, and his targets range from the inconsistencies and hidden agenda of churchmen to the silly excesses of fellow liberals.
		Knight argues (against the behaviorist program) that we are unable to understand human behavior without reference to values, and furthermore we are unable to characterize the values and perceptions in individual choice situations in ways that yield useful predictions about the specific actions individuals will take.
		Knight places great stress on a methodological contradiction in behaviorism: scientific observation is inherently intersubjective, so a behaviorist can dismiss the mental in his subjects of study only to insist upon it when publicizing his research.
	www.american.edu /academic.depts/cas/econ/faculty/isaac/wp/isaac02rpe.knight.htm (3165 words)

	Frank Knight (Site not responding. Last check: 2007-10-19)
		Knight defines economics as a science of human behavior but one that is founded in the psychology of human behavior; in Knight’s view rational behavior is one possibility.
		In Knight’s framework, concepts are seen moving according to laws and applied to three broadly defined fields of knowledge: knowledge of the external world, the truths of logic and mathematics, and knowledge of human conduct.
		Knight says that we “refuse to incur a small chance of losing a larger amount for a virtual certainty of winning a smaller, even though the actuarial value of the chance is in their favor” (11, p.
	www-rohan.sdsu.edu /~frantz/Knight.HES2002.htm (5730 words)

	Frank H. Knight
		In it, Knight made his famous distinction between "risk" (randomness with knowable probabilities) and "uncertainty" (randomness with unkowable probabilities), set forth the role of the entrepreneur in a distinctive theory of profit and gave one of the earliest presentations of the the now-famous law of variable proportions in the theory of production.
		While irreducibly Neoclassical in a general sense, Knight's peculiar economics were a direct inheritance of his Cornell professor, Herbert J. Davenport and what was then called the "American Psychological School" which sought to ground the Marginalist high theory of Jevons, Wicksteed and the Austrians in the relativist foundations of Thorstein Veblen's methodology.
		However, we must grant that Knight's theories of capital (Knight viewed all factors as capital to a greater or lesser degree) and his "public choice" view of political behavior could be said to have persisted in at least some quarters of the modern Chicago School.
	cepa.newschool.edu /het/profiles/knight.htm (1481 words)

	Frank H. Knight – Origins of the Chicago School of Economics - Economic Insights - FRB Dallas
		Knight stood almost alone among his contemporaries in his eclectic support for the market process and in his position on what economics was ultimately about.
		Ultimately, Knight supported the market on moral grounds, not efficiency ones; he believed freedom was itself the ultimate good, enabling people to trade with one another irrespective of their religious or cultural differences, based on their reasoning as to what is important and worth pursuing.
		Knight's extreme skepticism and lack of slavish deference to authority became the twin pillars of the school's long and storied approach to theory and policy, and that is Knight's enduring legacy.
	www.dallasfed.org /research/ei/ei0203.html (2990 words)

	Frank K. Knight, Economics
		Knight seemed to be writing constantly, producing a substantial body of articles and books on economics and dashing off lengthy letters to allies and antagonists.
		Frank Knight, who came to Chicago in 1929 from the University of Iowa, helped create this association by developing an economic philosophy that celebrated the opportunities available in a competitive, largely unregulated economy.
		While Knight once wrote that the original sin was "the human propensity to be simpleminded," his actions suggest that an unwillingness to take a stand must have been a near second.
	www.lib.uchicago.edu /projects/centcat/centcats/fac/facch23_01.html (528 words)

	Frank H. Knight
		Frank Knight graduated from the University of Tennessee in 1913 with both a B.S. and an M.A. degree.
		At Chicago, Knight was a towering figure in the Economics Department, its foremost specialist in the history of economic thought and a major leader of the "Chicago School" which produced a large number of distinguished economists.
		In 1950 Knight was elected president of the American Economic Association, and in 1957 it gave him its highest award, the Francis Walker Medal for lifetime achievement in economics, an award given only once every five years and discontinued when the Nobel Prize in economics was established.
	www.lib.utk.edu /~outreach/about/hall_fame/knight.html (237 words)

	Frank H. Knight
		Frank Knight graduated from the University of Tennessee in 1913 with both a B.S. and an M.A. degree.
		At Chicago, Knight was a towering figure in the Economics Department, its foremost specialist in the history of economic thought and a major leader of the "Chicago School" which produced a large number of distinguished economists.
		In 1950 Knight was elected president of the American Economic Association, and in 1957 it gave him its highest award, the Francis Walker Medal for lifetime achievement in economics, an award given only once every five years and discontinued when the Nobel Prize in economics was established.
	gila.lib.utk.edu /~outreach/about/hall_fame/knight.html (237 words)

	Frank Knight's First Law of Talk
		Knight was known for his sarcastic comments and rather jaded views of economics and politics.
		Frank Knight, a professor at Chicago University from 1922-1972, was considered one of the founders of the Chicago School of economics.
		Frank Knight's First Law of Talk states that "Talk is cheap and it drives out talk that is less cheap." This is derived from the economic dictum that cheap money drives out sound money.
	www.indepthinfo.com /articles/law-of-talk.shtml (440 words)

	Amazon.fr : Selected Essays by Frank H. Knight: "What Is Truth" in Economics: Livres en anglais: Frank Hyneman ... (Site not responding. Last check: 2007-10-19)
		Frank H. Knight (1885-1972) was a central figure--many say the dominant influence--in the development of the "Chicago School of Economics" at the University of Chicago in the 1930s and 1940s, where he taught future Nobel laureates Milton Friedman, James Buchanan, George Stigler, and many other notable scholars.
		It was Knight's embedded skepticism about the reach of economic knowledge that set the stage for the laissez-faire economics that matured at the University in the 1950s and 1960s.
		But as important as Knight's technical economic contributions were, he never strayed far from his broad philosophical interests and concern for the state of modern liberal democracy.
	www.amazon.fr /Selected-Essays-Frank-Knight-Economics/dp/0226446964 (436 words)

	Selected Essays of Frank Knight
		Knight succinctly presents the basic principle on which classical liberalism depends: "[A]ll relations between men ought ideally to rest on mutual free consent, and not on coercion, either on the part of other individuals or on the part of the `society' as politically organized in the state.
		Knight has failed to note that Mises did not intend his argument to apply to a stationary state: in Human Action, he dismisses attempts to solve the calculation problem via differential equations, just because these equations hold true only in a stationary state (Mises Institute, 1998, pp.
		Knight has thus, by a circuitous route, returned us to a location near the free market: how near, I should not care to hazard a guess.
	www.mises.org /misesreview_detail.asp?control=161&sortorder=issue (1307 words)

	Frank Knight (Site not responding. Last check: 2007-10-19)
		Frank Kennedy Knight was born February 1, 1948, in Brooklyn, NY.
		That year Knight obtained his law degree and accepted a position with the Baxter County District Attorney's office The couple settled in Mountain Home, Arkansas, where Knight is currently deputy district attorney.
		A deeply religious man, Knight is involved in many community activities as an active member of the Church of Christ the Avenger.
	www.crimescene.com /crime/frank_bio.html (182 words)

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	Frank Hyneman Knight Biography \| Encyclopedia of World Biography
		The American economist Frank Hyneman Knight (1885-1972) was a leading figure in the influential Chicago school of neoclassic economics, especially in his descriptive model of the system of perfect competition.
		Frank Knight was born on a farm in McClean County, Illinois, on November 7, 1885.
		Knight's academic career included appointments at Cornell, Chicago, and Iowa before he returned in 1928 to Chicago, where he was subsequently appointed Morton Hull professor of economics.
	www.bookrags.com /biography/frank-hyneman-knight (789 words)

	SSRN-Frank Knight and Pragmatism by D. Wade Hands
		One of many controversies surrounding the work of Frank Knight involves the question of whether, or to what degree, his ideas were consistent with those of American pragmatism.
		This paper argues that while Knight was quite (often aggressively) opposed to a particular set of pragmatic ideas alive in the scholarly and social debates of his day, this fact says more about Knight's historical context than it does about the broader relationship between his philosophical position and pragmatism.
		Knight was opposed to the social control pragmatism of his day, but at the same time his general philosophical position has much in common with the features of the pragmatic tradition that are most emphasized in the recent philosophical literature.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=927509 (271 words)

	Knowledge Products Audiobooks - Frank Knight & the Chicago School
		Knight was concerned with a wide range of subjects, including such philosophical topics as means vs. ends, economics as a study of human nature and human communication (including "lying").
		As an abstract theorist, Frank Knight emphasized the role of risk and uncertainty in economic affairs.
		Knight also was heavily involved in one of the popular economic topics of his day: is economics a philosophical and behavioral study, or is it an empirical science?
	www.audioclassics.net /html/econ_files/knight.cfm (221 words)

	Frank Hyneman Knight, Biography: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Another of Knight's contributions to economics was in his famous article "Some Fallacies in the Interpretation of Social Cost," in which he took on Pigou's view that congestion of roads justified taxation of roads.
		Knight showed that if roads were privately owned, road owners would set tolls that would reduce congestion.
		Knight was seen to have won the debate over the Austrian concept of capital.
	www.econlib.org /library/Enc/bios/Knight.html (635 words)

	EconPapers: Frank Knight and original sin (Site not responding. Last check: 2007-10-19)
		This paper examines the thinking of the later Knight, the approach to social analysis that he adopted for most of career and including all of his years in the Chicago economics department.
		Knight was known for his antagonism to traditional Christian religion.
		As Knight developed the implications of this world view, he increasingly rejected the scientific management approaches of the mainstream of the economics profession and instead worked out his own brand of libertarian philosophy - anticipating and influencing later libertarian directions of thought that would emerge at Chicago.
	econpapers.repec.org /paper/icrwpicer/07-2000.htm (369 words)

	Frank Knight Sanders - KS-Cyclopedia - 1912
		The father was born at Williamstown, Mass., and was a graduate of Williams College of Massachusetts and of Auburn Theological Seminary of Auburn, N.
		The father of Georgiana Knight was the Rev. Asher Knight, a distinguished Congregational clergyman of Massachusetts, who for many years was pastor of the Congregational church at Peru, Mass.
		Frank K. Sanders came to the United States with his parents when but three years old and was brought up by his uncle, Dr. Henry M. Knight, at Lakeville, Conn., who made him a member of his family.
	skyways.lib.ks.us /kansas/kansas/genweb/archives/1912/s3/sanders_frank_knight.html (663 words)

	HES: QUERY -- Frank Knight's methodology
		Knight continues also to feature prominently in discussions of uncertainty and the theory of the firm; no references to that literature are provided, but a search on EconLit will produce a good list.
		Emmett, R.B. "Frank Knights dissent from progressive social science." In Economics and Its Discontents: Twentieth Century Dissenting Economists, edited by Steven Pressman and Richard Holt, 153-64.
		Knight also plays an important role in Yuval Yonay's The struggle over the soul of economics: institutionalist and neoclassical economists in America between the wars.
	eh.net /pipermail/hes/1999-November/004991.html (693 words)

	Man Builds Log Cabin, Waits 74 Years to Get Paid
		Frank Addison Knight was born in Pownal, Maine in 1908 and was one of five — four boys and a girl — in his class at North Yarmouth Academy.
		Knight brought oak tree saplings from numerous regions to Yarmouth to vary and strengthen the species.
		Frank Knight, tree expert and alumnus, worked with Darcie Manning's 6th grade science class at North Yarmouth Academy to improve Maine's oaks.
	www.emediawire.com /releases/2006/2/emw347739.htm (921 words)

	Amazon.com: Risk, Uncertainty and Profit: Books: Frank, H. Knight (Site not responding. Last check: 2007-10-19)
		We live in a world full of contradiction and paradox, a fact of which perhaps the most fundamental illustration is this: that the existence of a problem of knowledge depends on the future being different than the past, while the possibility of the solution of the problem depends on the future being like the past.
		FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century.
		Knight is one of the economist who lived in the transition of classical into neoclassical economics.
	www.amazon.com /Risk-Uncertainty-Profit-Frank-Knight/dp/1596052422 (1831 words)

	Frank Knight and original sin
		Frank Knight was the key person in founding the Chicago school of economics.
		This paper examines the thinking of the later Knight, the approach to social analysis that he adopted for most of career and including all of his years in the Chicago economics department.
		As Knight developed the implications of this world view, he increasingly rejected the scientific management approaches of the mainstream of the economics profession and instead worked out his own brand of libertarian philosophy - anticipating and influencing later libertarian directions of thought that would emerge at Chicago.
	ideas.repec.org /p/icr/wpicer/07-2000.html (469 words)

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