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

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.

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.

...it is distressing how often one can guess the answer given to an economic question merely by knowing who asks it.

Henry Ford made a lot of money making cars at one time, but that was a small advantage to him compared to the benefit to millions of people who for the first time in their lives were emancipated from common public carriers and could live where they wanted, move at the hours they wanted, to the places they wanted. Ford collected a billion bucks, but that was peanuts compared to the benefits.

Competition is a tough weed, not a delicate flower.

Mathematics has no symbols for confused ideas.