There is a pronounced tendency among cell biologists to focus on qualitative aspects of cell physiology. The remarkable accomplishments of evolution in creating cells can only be fully appreciated, however, by combining this qualitative analysis with a quantitative assessment of cellular constituents and processes. Here, I consider the overall protein economy of cells as it relates to recent advances in understanding protein folding, ubiquitin-targeted proteasome-mediated degradation of proteins and the generation of peptide ligands for major histocompatibility complex (MHC) class I molecules.