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

There is only one social science and we are its practitioners

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

Even before I came to Chicago, I had gotten interested in the existence of dispersion of prices under conditions which economic theory said would yield a single price.

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.

I started working and publishing in price theory by 1938.

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