In some respects, economics is purely a way of thinking, a form of religion if you will, a philosophical base as to how one should approach the world and he believed in this approach.

He was one of the few people that could shut everybody up. He knew exactly what was going on. He cut many professors off by the knees. Someone would come in with an argument and he knew how to prove them wrong.

Byron came to grad school at the tender age of 43, and had some desire to become a professor and eventually did it. He was an interesting mix, he was a true bohemian in many respects.

You can't drill a well when you don't know what the economics will be.

What a person cannot do he will not do, no matter how much he wants to do it. Normative economics has shown that exact solutions to the larger optimization problems of the real world are simply not within reach or sight. ... the behavior of an artificial system may be strongly influenced by the limits of its adaptive capacities.

The economics behind moving beef into Asia will drive it. We're going to see that build through 2006 and into 2007, but with the under-21-month criteria it does mean there's extra work involved.