Nobel Laureates

Articles and essays by and about some of the University of Chicago’s Nobel Prize-winning faculty

 

Why Merton Miller remains misunderstood

Merton H. Miller liked to tell a joke about Yogi Berra, the famous baseball catcher. Berra once told his trainer that he was particularly hungry, and he instructed him to cut his pizza into 12 pieces instead of six.

Modern man and his corporations

Americans have been taught by persistent experience to expect great and growing wealth from their economic system—even our paupers are richer in goods than most of the elites of history.

Adam Smith's relevance for 1976

Adam Smith was a radical and revolutionary in his time—just as those of us who today preach laissez faire are in our time.

Fair game

By carefully studying investor behavior, active money managers can identify profitable clues about what stocks to buy and when.