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.

And yet I would not freely exchange my science for those of my fellow laureates. They are forever confined in their professional discussions to the small numbers of their fellow scientists.

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

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

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.

In the 1950s, I proposed the survivor method of determining the efficient sizes of enterprises, and worked on delivered price systems, vertical integration, and similar topics.

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