During the two centuries since the publication of 'The Wealth of Nations,' the main activity of economists, it seems to me, has been to fill the gaps in Adam Smith's system, to correct his errors and to make his analysis vastly more exact.

The pollution problem is always seen as someone who was doing something bad that has to be stopped. To me, pollution is doing something bad and good. People don't pollute because they like polluting. They do it because it's a cheaper way of producing something else.

In my long life, I have known some great economists, but I have never counted myself among their number nor walked in their company.

Economics as currently presented in textbooks and taught in the classroom does not have much to do with business management, and still less with entrepreneurship.