"One thing we’ve learned from the economic events of the past two years is that macroeconomics, or at least the part of macroeconomics that studies the business cycle, is a weak field. With only a few exceptions, macroeconomists, including the most illustrious, did not anticipate the current depression."

“This book is written in the conviction that economics is a powerful tool for analyzing a vast range of legal questions but that most lawyers and law students-even very bright ones-have difficulty connecting economic principles to concrete legal problems.”

“Jurisprudence addresses the questions about law that an intelligent layperson of speculative bent — not a lawyer — might think particularly interesting.”

“If judges are pragmatic, as I think they largely are in our system, it can only be in the everyday sense of the term. But immediately the counterexample of Holmes, a gifted and serious though not systematic philosophical thinker, comes to mind.”

“My reaction to “creative capitalism” as lauded by Bill Gates, Warren Buffett, Michael Kinsley, and , Professor Glaeser of the Harvard Economics Department is a skeptical one. The embrace of massive corporate charity, the criticism of capitalism by its greatest beneficiaries, and the frequent resort by the advocates of “creative capitalism” to platitudes , along with the vagueness of the term itself, leave me with an uncomfortable feeling.”

“I wish in closing to emphasize how little corporate philanthrophy is actually philanthropic, in the sense of being driven by altruism rather than by profit maximization.”

“Correctly anticipating the rapid growth of living standards, moreover, Keynes predicted that within a century people's material wants would be satiated, and so per capita consumption would stop growing. People would work less, but only because their need for income, and more important their desire for it, was less. And then the challenge to society would be the management of unprecedented voluntary leisure. This was a popular 1930s theme--think of Huxley's Brave New World--but it underestimated the ability of business to create new wants, and new goods and services to fulfill them.”