A Quote by Merton Miller
My main interest, however, was in economics, not law.
Related Quotes
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
My main concern is meeting with public because my main commitment, main interest is promotion of human value, human affection, compassion and religious harmony.
Marx, however imperfectly he worked out the details, set himself the task of discovering the law of motion of capitalism, and if there is any hope of progress in economics at all, it must be in using academic methods to solve the problems posed by Marx.
No fantasy, however rich, no technique, however masterly, no penetration into the psychology of the opponent, however deep, can make a chess game a work of art, if these qualities do not lead to the main goal - the search for truth.
Whether we like it or not, it is a fact that economics cannot remain an esoteric branch of knowledge accessible only to small groups of scholars and specialists. Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen.
The first law of economics is that when the price goes up, consumption comes down. This is a divine law.
Most intellectuals outside the field of economics show remarkably little interest in learning even the basic fundamentals of economics. Yet they do not hesitate to make sweeping pronouncements about the economy in general, businesses in particular, and the many issues revolving around what is called 'income distribution'.
My main interest... is the love of truth, whether pleasant or not. Truth is self-sufficient, and there is nothing to which it can be subordinated without loss. When truth is made subservient to anything else, however great (say religion), it becomes impure and sordid.
It [piano lessons] wasn't a priority, but it was an interest and through that I became acquainted with classical music, which was a main interest at the time.
Rising inequality is not a law of nature - it's not even a law of economics. It is a consequence of political and economic arrangements, and those arrangements can be changed.
"Law professors were never like economics professors," a Harvard Law professor told me. "If you disagreed with someone, you didn't call him a fool."
Basically, it's hard for me to assess myself, a hardship not only prompted by the immodesty of the enterprise, but because one is not capable of assessing himself, let alone his work. However, if I were to summarize, my main interest is the nature of time. That's what interests me most of all. What time can do to a man.
There is no faith, however respectable, no interest, however legitimate, which must not accommodate itself to the progress of human knowledge and bend before truth.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
If however the law is so promulgated that it of necessity makes you an agent of injustices against another, then I say to you ... break the law.
[T]he rule of law does more than ensure freedom from high-handed action by rulers. It ensures justice between man and man however humble the one and however powerful the other. A man with five dollars in the bank can call to account the corporation with five billion dollars in assets-and the two will be heard as equals before the law.
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