"The importance to economics of the study of institutions is no longer a controversial proposition, thanks in part to the scholarly literature generated by the new institutional economics movement. Institutions are more than organizations – property is an institution, but not an organization – but organizations are an important form of institution and will be the focus of my paper, as it is, to a considerable extent, of the new institutional economics."

“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.”

“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.”

“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.”