Frank H. Knight Quote

“Knowledge is more a matter of learning than of the exercise of absolute judgment. Learning requires time, and in time the situation dealt with, as well as the learner, undergoes change.”

~ Frank H. Knight

Risk, Uncertainty, and Profit par. III.VIII.15

Ratings and Comments

Mike, Norwalk

For me, as a stand alone statement, there is not enough here to rate. Definition of words and relationships on concepts would have to precede the quote for an intelligent comment; for, against, or otherwise. By way of example: what is the definition and relationship of knowledge, learning, and absolute judgment; and, how does a situation dealt with (a past event) change with time (a future event)?

Waffler, Smith

He is intimating here that life and learning are tentative things, and I whole heartily agree. Those absolutists, those who say for example "the US is a Republic not a democracy" do not understand, do not comprehend, and are absolutist in their judgements. When you are absolutist it is impossible to learn or think.

E Archer, NYC
  • Reply
E Archer, NYC Waffler, Smith 1/9/19

How absolutist of you ...

Michael A. Church, Grenada

Last week, I went to my phone provider with a problem. I was told that what was happening to my phone was not possible. My response was that we should never define knowledge by the limitations that have been placed on our level of learning. Knowledge is infinite but judgement is subjective. Michael A. Church

  • Reply
Anonymous    5/16/11

I wonder what he would have to say about the ignorance of today's average high school student?

Ronw13, OR
  • Reply
    Ronw13, OR    1/9/19

    A statement in the obvious, sometimes one can share more "knowledge" than needed. Keep your enemy in the dark, not "knowing" which way is up. 


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