economy comments on Rationality Quotes Thread March 2015 - Less Wrong

8 Post author: Vaniver 02 March 2015 11:38PM

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Comment author: [deleted] 05 March 2015 01:18:30AM 4 points [-]

Social problems are not only hard but finally insoluble. Yet many of them will inevitably get some kind of "treatment"; it is a question of better or worse, or of making things better, more or less, or making them worse than before, even to downright disaster. As I remember hearing "Tommy" Adams say in a classroom, we must not call any problems insoluble which must be solved in some way and for which some solutions are better, or worse, than others.

Frank Knight, "The Role of Principles in Economics and Politics" p.19

His claim of the insolubility of social problems is not a note of hopeless despair but should be understood in the context of his argument that free association and cooperation are the best and really only way to solve social problems, but pushed to their limit the result would be intolerable.

Think "Tommy" Adams refers to Thomas Sewall Adams.