ABSTRACT
In 1964, I was studying for an MA in Economics at the University of Georgia when, at the urging of Professors George Horton and Aubrey Drury, both graduates of the University of Virginia’s economics PhD program, I applied for and received admission to the same program. Sometime during the spring of 1965 I visited the University and met with the director of (economics) graduate study, one Leland Yeager. In contrast with Profs. Horton and Drury, Mr. Yeager was stiff, formal, and very shy. I was sure the meeting hadn’t gone well. And I was taken back about one thing. When Mr. Yeager asked what I was planning to do over the summer, I said I wanted to finish my MA thesis. He responded, “Why? You’ll be working on a PhD, right? That’s your terminal degree.” So, instead, during the summer I read economics and attended some lectures in Charlottesville, including an unforgettable series by Ronald Coase. It was good advice.
