There is something, however humble, which can properly be called skill among those who recognise themselves as economists. - Kenneth E. Boulding

What I have been talking about is knowledge. Knowledge, perhaps, is not a good word for this. Perhaps one would rather say my image of the world. Knowledge has an implication of validity, of truth. What I am talking about is what I believe to be true; my subjective knowledge. It is this Image that largely governs my behavior. In about an hour I shall rise, leave my office, go to a car, drive down to my home, play with the children, have supper, perhaps read a book, go to bed. I can predict this behavior with a fair degree to accuracy because of the knowledge which I have: the knowledge that I have a home not far away, to which I am accustomed to go. The prediction, of course, may not be fulfilled. There may be an earthquake, I may have an accident with the car on the way home, I may get home to find that my family has been suddenly called away. A hundred and one things may happen. As each event occurs, however, it alters my knowledge structure or my image. And as it alters my image, I behave accordingly. The first proposition of this work, therefore, is that behavior depends on the image.

(iv) The fourth level is that of the "open system," or self-maintaining structure...

A firm may be defined as an institution which buys things, transforms them in some way, and then sells them with the purpose of making a profit. The things a firm buys we shall call "inputs." The things it sells we shall call "outputs." The process whereby the things it buys are transformed into the things it sells we shall call the "process of production." In any process of buying to sell again a process of production is always involved...