George Stigler Quotes

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

Competition is a tough weed, not a delicate flower.

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

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

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.

Friedman stumbled in, late to the seminar as usual and reeking of cigar smoke and whiskey. He hadn't read the paper being presented, and halfway through he just gets up, walks up to the podium, socks the mother****er right in the face and takes a piss all over his lecture notes.

There is only one social science and we are its practitioners

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.

Stigler's Law: No scientific discovery is named after its original discoverer.

The main insight learned from interdisciplinary studies is the return to specialization

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.

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.

Mathematics has no symbols for confused ideas.

...the number of saintly men has not yet risen to the level where the census makes them a separate statistical category.

All great economists are tall. There are two exceptions: John Kenneth Galbraith and Milton Friedman.

A Swedish physicist can not discuss his work with fifty people unless he goes abroad. A Swedish economist can get opinions and instructions in his native language from thousands upon thousands of his fellow citizens.

My interests were aroused, and my faith in the cliches of the subject destroyed, as so often with other subjects, by the discussions with my friend, Aaron Director.

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.

I met my wife, Margaret L. Mack, at the University of Chicago. We were married in 1936. She died in 1970.

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

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

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.

That subject has lost its one time appeal to economists as our science has become more abstract, but my interest has even grown more intense as the questions raised by the sociology of science became more prominent.

The delicate and intricate pattern of competition and cooperation in the economic behavior of the hundreds of thousands of citizens of Stockholm offers a challenge to the economist that is perhaps as complex as the challenges of the physicist and the chemist.