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

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.

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

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

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.

I recall my mother asking in about 1946 what I was and I replied proudly that I was a professor. A decade later she repeated her question and I repeated my answer. "No promotion?" was her comment.

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