"Rational actors are significantly constrained by limitations of information and calculation."

“We believe that, in order to understand contemporary economic decision making, we need to supplement the study of market factors with an examination of the internal operation of the firm – to study the effects of organizational structure and conventional practice on the developments of goals, the formation of expectations, and the execution of choices.”

“Relatively unsuccessful firms would be more likely to innovate than relatively successful firms.”

“Effective retention is heavily dependent on recruiting students with the potential to graduate.”

“After two years of study, I'm happy to tell you that dire projections about declines in the U.S. work force due to technological change are exaggerated at best.”

“In general, success tends to breed slack. One of the main consequences of slack is a muting of problems of resource scarcity. Slack provides a source of funds for innovations that would not be approved in the case of scarcity but that have strong subgroup support.”