Why, when the economist gives advice to his society, is he so often cooly ignored? He never ceases to preach free trade, and protectionism is growing in the United States. He deplores the perverse effects of minimum wage laws, and the legal minimum is regularly raised each 3 or 5 years. He brands usury laws as a medieval superstition, but no state hurries to repeal its law.

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

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.

Competition is a tough weed, not a delicate flower.

In 1958, I came to Chicago where I have remained.

Mathematics has no symbols for confused ideas.

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