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.

Mathematics has no symbols for confused ideas.

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.

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

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.

Competition is a tough weed, not a delicate flower.