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.
While tacit knowledge can be possessed by itself, explicit knowledge must rely on being tacitly understood and applied. Hence all knowledge is either… - Michael Polanyi
While tacit knowledge can be possessed by itself, explicit knowledge must rely on being tacitly understood and applied. Hence all knowledge is either…
- Michael Polanyi
Our reliance on the validity of a scientific conclusion depends ultimately on a judgment of coherence; and as there can exist no strict criterion for… - Michael Polanyi
Our reliance on the validity of a scientific conclusion depends ultimately on a judgment of coherence; and as there can exist no strict criterion for…
Theories of evolution must provide for the creative acts which brought such theories into existence. - Michael Polanyi
Theories of evolution must provide for the creative acts which brought such theories into existence.
Discoveries are made by pursuing possibilities suggested by existing knowledge. - Michael Polanyi
Discoveries are made by pursuing possibilities suggested by existing knowledge.
The information in DNA could no more be reduced to the chemical than could the ideas in a book be reduced to the ink and paper: something beyond phys… - Michael Polanyi
The information in DNA could no more be reduced to the chemical than could the ideas in a book be reduced to the ink and paper: something beyond phys…
The process of philosophic and scientific enlightenment has shaken the stability of beliefs held explicitly as articles of faith. - Michael Polanyi
The process of philosophic and scientific enlightenment has shaken the stability of beliefs held explicitly as articles of faith.
I shall reconsider human knowledge by starting from the fact that we can know more than we can tell. - Michael Polanyi
I shall reconsider human knowledge by starting from the fact that we can know more than we can tell.
Of course language manifests a belief only if we use its words with the implied acceptance of their appositeness. - Michael Polanyi
Of course language manifests a belief only if we use its words with the implied acceptance of their appositeness.
So long as we use a certain language, all questions that we can ask will have to be formulated in it and will thereby confirm the theory of the unive… - Michael Polanyi
So long as we use a certain language, all questions that we can ask will have to be formulated in it and will thereby confirm the theory of the unive…
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