“The adverse economic events following the First World War turned me toward economics… I learned during my youth how hard it was for farm families to stay solvent. Farm product prices fell abruptly by more than half. Banks went bankrupt and many farmers suffered foreclosures. Was politics or economics to blame? I opted for economics.”

" Nobelprize.org: Autobiography http://www.nobelprize.org/nobel_prizes/economics/laureates/1979/schultz-autobio.html," in: Nobel Lectures, Economics 1969-1980, Editor Assar Lindbeck, World Scientific Publishing Co., Singapore, 1992

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Theodore Schultz 15
American economist 1902–1998

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