Here is a Mark Rippetoe quote on squats from Starting Strength 3rd Edition.
“There is simply no other exercise, and certainly no machine, that provides the level of central nervous activity, improved balance and coordination, skeletal loading and bone density enhancement, muscular stimulation and growth, connective tissue stress and strength, psychological demand and toughness, and overall systemic conditioning than the correctly performed full squat.” -Mark Rippetoe
Download some sample chapters from Starting Strength 3rd Edition for free.