My main graduate training was received at the University of Chicago from which I received the Ph.D. in 1938.

...it is distressing how often one can guess the answer given to an economic question merely by knowing who asks it.

I attended schools in Seattle through the University of Washington, from which I was graduated in 1931. I spent the next year at Northwestern University.

The main insight learned from interdisciplinary studies is the return to specialization

Competition is a tough weed, not a delicate flower.

There is only one social science and we are its practitioners

If you never miss a plane, you’re spending too much time at the airport.

My teaching began in 1936 at Iowa State College where T. W. Schultz was the department chairman.

I recall my mother asking in about 1946 what I was and I replied proudly that I was a professor. A decade later she repeated her question and I repeated my answer. "No promotion?" was her comment.

Theories are not rejected by cirsumstantial evidence: it takes a theory to beat a theory.

It was in the 1960s that I began the detailed study of public regulation.

Learning to have the confidence to grab the opportunity when it presents itself makes you a winner.

A thought enters

Jealousy is a grievous passion that jealously seeks what causes grief.

Yet for better or worse we love things that bear the marks of grime, soot, and weather, and we love the colors and the sheen that call to mind the past that made them.

Lying is a terrible vice, it testifies that one despises God, but fears men.

Earth has one angel less and heaven one more, since yesterday.

Just because you're big doesn't mean you can't be an athlete. And just because you work out doesn't mean you're going to have a 12-pack.

In the great majority of cases we simply do not know enough about the industry or company to come to sensible judgments-in that situation we pass.

Kids are always the only future the human race has.

For whatever reason I was always obsessed with the potential of humanity's physicality. Especially since we grew up with such a non-physical philosophy.