But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.

Much of my work in this period was concerned with exploring the logic of economic models, but also with attempting to reconcile the models with every day observation.

Amherst is a liberal arts college, committed to providing students with a broad education.

There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

I think in part the reason is that seeing an economy that is, in many ways, quite different from the one grows up in, helps crystallize issues: in one's own environment, one takes too much for granted, without asking why things are the way they are.

I grew up in a family in which political issues were often discussed, and debated intensely.

I recognized that information was, in many respects, like a public good, and it was this insight that made it clear to me that it was unlikely that the private market would provide efficient resource allocations whenever information was endogenous.

Economists often like startling theorems, results which seem to run counter to conventional wisdom.

But while I loved all of these courses, there was an irresistible attraction of economics.

I, like many members of my generation, was concerned with segregation and the repeated violation of civil rights.

My teachers helped guide and motivate me; but the responsibility of learning was left with me, an approach to learning which was later reinforced by my experiences at Amherst.

As I noted in my Nobel lecture, an early insight in my work on the economics of information concerned the problem of appropriability - the difficulty that those who pay for information have in getting returns.

The extra curricular activity in which I was most engaged - debating - helped shape my interests in public policy.

But individuals and firms spend an enormous amount of resources acquiring information, which affects their beliefs; and actions of others too affect their beliefs.

I went to public schools, and while Gary was, like most American cities, racially segregated, it was at least socially integrated - a cross section of children from families of all walks of life.

I went to Amherst because my brother had gone there before me, and he went there because his guidance counselor thought that we would do better there than at a large university like Harvard.

My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.

Amherst was pivotal in my broad intellectual development; MIT in my development as a professional economist.

I knew that discrimination existed, even though there were many individuals who were not prejudiced.

In debate, one randomly was assigned to one side or the other. This had at least one virtue - it made one see that there was more than one side to these complex issues.

Certainly, the poverty, the discrimination, the episodic unemployment could not but strike an inquiring youngster: why did these exist, and what could we do about them.

The notion that every well educated person would have a mastery of at least the basic elements of the humanities, sciences, and social sciences is a far cry from the specialized education that most students today receive, particularly in the research universities.

If stability and efficiency required that there existed markets that extended infinitely far into the future - and these markets clearly did not exist - what assurance do we have of the stability and efficiency of the capitalist system?

Development is about transforming the lives of people not just transforming economies.

I think one's feelings waste themselves in words; they ought all to be distilled into actions which bring results.

We need people out talking about the President, explaining, agreeing with and praising his actions.

We have made mistakes. In our haste to do all things for all people, we did not foresee the full consequences of our actions. And when the people raised their voices, we didn't hear. But our deafness was only a temporary condition, and not an irreversible condition.

In addition to a timeline, I have proposed that U.S. troops be removed from front line combat positions in Iraqi cities and towns, turning over daily security patrols, interactions with citizens, and any offensive security actions to the Iraqis themselves.

I would certainly choose my jobs depending on the actions of the character. I won't do anything that has to do with child abuse or women's abuse.

When we criticize in Iran the actions of the government, the fundamentalists say that we and the Bush Administration are in the same camp. The funny thing is that human rights activists and Mr. Bush can never be situated in the same group.

I've no regrets. You take responsibility for your actions.

In order to change unwanted habits and actions, it is important to take the time to get to know yourself.

I have long since come to believe that people never mean half of what they say, and that it is best to disregard their talk and judge only their actions.

On the one hand, there are individual actions such as throwing, pushing, touching, rubbing. It is these individual actions that give rise most of the time to abstraction from objects.

The entire race is usually judged by the actions of one man or woman.

My actions to promote peace, the mediation missions which I carried out during many conflicts, which very often occurred between brothers of the same country, are not driven by any ulterior motives or any calculations based on personal ambitions.

Both state and church have as their object actions as well as convictions, the former insofar as they are based on the relations between man and nature, the latter insofar as they are based on the relations between nature and God.

Most of the animated films I watched, the emotions are all prepackaged like canned music, the hand actions, the sighs.

'Tis human actions paint the chart of time.

It would be immoral to walk away from the consequences of our actions, leaving behind anarchy and civil war in Iraq.

You can expect interior enforcement actions in the future.

We want a state wise in its contemplation - just in its actions - and moderate in the reach of government into our lives.

I respect very much the role of the media in our society; I think they can be very, very helpful. They serve as a very useful check, sort of a watchdog over the actions of the government, and I respect that.

Our actions are the results of our intentions and our intelligence.

Animals are reliable, many full of love, true in their affections, predictable in their actions, grateful and loyal. Difficult standards for people to live up to.

A man's most glorious actions will at last be found to be but glorious sins, if he hath made himself, and not the glory of God, the end of those actions.

Our souls may lose their peace and even disturb other people's, if we are always criticizing trivial actions - which often are not real defects at all, but we construe them wrongly through our ignorance of their motives.

Are not laws dangerous which inhibit the passions? Compare the centuries of anarchy with those of the strongest legalism in any country you like and you will see that it is only when the laws are silent that the greatest actions appear.

A little reflection will show us that every belief, even the simplest and most fundamental, goes beyond experience when regarded as a guide to our actions.