Liberty should be understood as freedom from the government, specifically, freedom from the initiation of physical force by the government.
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.
I met my wife, Margaret L. Mack, at the University of Chicago. We were married in 1936. She died in 1970.
I used to joke that I came to England - not to the U.S. where most Koreans go - because I like Arthur Conan Doyle and Agatha Christie.
From that date the abandonment of the older State proceeded with a rapidity never before known, and with it grew the domestic slave trade and the pro-slavery feeling.
When you have risk aversion in Japan, the normal day-to-day outflows that happen in a normal market environment slow down.
Chicago is an exciting place which renews itself. The workshop system encourages close reading and frank discussions of papers and ideas.
The scientific study of labor economics provided the opportunity for me to unite theory with evidence my lifetime intellectual passion.
Some men are like nails, very easily drawn; others however are more like rivets never drawn at all.
Thanks to former President George W. Bush - remember the compassionate conservative? - I have a good name for the fundamental principle that should guide the Democratic alternative: compassionate deficit reduction.
Over time, a successful company will acquire much in the way of resources and momentum, and these things often insulate it from reality once it has stopped being successful.
In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.
It is time to move on. House prices won't rise and the economy won't fully engage until more distressed properties are resolved and put back into ordinary use.
In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.
There are certain books in the world which every searcher for truth must know: the Bible, the Critique of Pure Reason, the Origin of Species, and Karl Marx's Capital.
The defendant wants to hide the truth because he's generally guilty. The defense attorney's job is to make sure the jury does not arrive at that truth.
I tell my micro students everything I teach them is important, but the truth is that some things are more useful than others, and opportunity cost is near the top.
Although I had arrived in total darkness the light of truth at once burst upon my mind and I perceived most clearly that the republicans had overreached themselves.
In June as many as a dozen species may burst their buds on a single day. No man can heed all of these anniversaries; no man can ignore all of them.
Such is the nature of comic strips. Once established, their half-life is usually more than nuclear waste. Typically, the end result is lazy, rich cartoonists.
