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

The Chicago Economics Department was in intellectual ferment, although the central issues of the 1930s were very different from those in later times. I had never before encountered minds of that quality at close quarters and they influenced me strongly.

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

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

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.

Adam Smith had one overwhelmingly important triumph: he put into the center of economics the systematic analysis of the behavior of individuals pursuing their self-interest under conditions of competition.

A Swedish physicist can not discuss his work with fifty people unless he goes abroad. A Swedish economist can get opinions and instructions in his native language from thousands upon thousands of his fellow citizens.