"Arbitrage proof has since been widely used throughout finance and economics."

Create & Download Quote Graphic

Customize Image

1. Canvas Aspect Ratio

2. Palette Theme

Thematic Reflection

This quotation examines the core nature of Life as articulated by Merton Miller. Within historical and literary traditions, reflections on Life provide actionable mental models, challenging individuals to evaluate personal ethics, self-discipline, and daily actions.

About Merton Miller

Merton Howard Miller was an American economist, and the co-author of the Modigliani–Miller theorem (1958), which proposed the irrelevance of debt-equity structure. He shared the Nobel Memorial Prize in Economic Sciences in 1990, along with Harry Markowitz and William F. Sharpe. Miller spent most of his academic career at the University of Chicago's Booth School of Business.

View all quotes by Merton Miller →
Editorial Integrity: Curated and fact-checked under our Editorial Standards to eliminate misattributions and preserve historical authenticity.
Learn about our methodology →