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

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.

What I have done is to show the importance for the working of the economic system of what may be termed the institutional structure of production.

Ronald Coase Quotes