Quotes by George Akerlof - Page 1

My brother Carl became a physicist; I became an economist.
George Akerlof / Economist
Economist
Physicist
Copy Quote
My father was a chemist on the Yale faculty, my mother a housewife.
George Akerlof / Economist
Chemist
Faculty
Housewife
Copy Quote
The whole intention of empirical economics is to force theory down to Earth.
George Akerlof / Economist
Down To Earth
Intention
Theory
Empirical
Copy Quote
The failure of credit markets is one of the major reasons for underdevelopment.
George Akerlof / Economist
Failure
Credit
Major
Reasons
Copy Quote
I would never have been a good reporter because I am not accurate regarding facts.
George Akerlof / Economist
Accurate
Reporter
Regarding
Copy Quote
The only way we are going to ameliorate pressing social needs is through public intervention.
George Akerlof / Economist
Pressing
Copy Quote
I think what Bob Shiller and I are doing is we're focusing on macroeconomics and the role of psychology in macroeconomics.
George Akerlof / Economist
Psychology
Focusing
Copy Quote
Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics.
George Akerlof / Economist
Capture
Characteristics
Economic
Models
Unique
Constructed
Early
Market
Prior
Rarely
Specific
Copy Quote
Parents don't take a baby's temperature to decide whether the room is too warm; likewise, for global warming, we need a story that spurs us to do what is necessary.
George Akerlof / Economist
Global Warming
Spurs
Temperature
Warm
Global
Parents
Likewise
Necessary
Room
Copy Quote
The idea is that in any situation, people have a notion as to who they are and how they should behave. And if you don't behave according to your identity, you pay a cost.
George Akerlof / Economist
Behave
Cost
Identity
Notion
Pay
Situation
According
Your Identity People
Idea
Your People Identity
Copy Quote
My Swedish grandmother was the daughter of a dairy farmer who lived near Hedemora. My Swedish grandfather worked as a clerk for the Swedish railways in the Stockholm station.
George Akerlof / Economist
Dairy
Grandfather
Stockholm
Swedish
Clerk
Farmer
Near
Railways
Copy Quote
My mother, whose interest in chemistry was rather minimal, nevertheless went to graduate school in the subject and married my father, for whom it was as important as life itself.
George Akerlof / Economist
Chemistry
Graduate School
Nevertheless
Life Important Father
Graduate
Minimal
Copy Quote
In the late 1960s, the New Classical economists saw the same weaknesses in the microfoundations of macroeconomics that have motivated me. They hated its lack of rigor. And they sacked it.
George Akerlof / Economist
Motivated
Rigor
Classical
Economists
Sacked
Copy Quote
When men do all the outside work, they contribute on average about 10 percent of housework. But as their share of outside work falls, their share of housework rises to no more than 37 percent.
George Akerlof / Economist
Average
Housework
Contribute
Rises
Copy Quote
When you give chief executives too much compensation in stock options, they concentrate too much on the stock price, and there is a perverse incentive to raise the stock price, particularly when the chief executive wants to exercise his own options.
George Akerlof / Economist
Compensation
Executives
Chief
Chief Executive
Executive
Incentive
Options
Perverse
Raise
Stock
Copy Quote
In New Classical theory, periods of declining employment - business cycle downturns - may be caused by an unexpected decline in aggregate demand, which leaves workers mistakenly holding out for nominal wages that exceed the new market-clearing level.
George Akerlof / Economist
Decline
Demand
Employment
Exceed
Periods
Theory
Unexpected
Wages
Workers
Caused
Aggregate
Classical
Cycle
Holding
Leaves
Mistakenly
Nominal
Copy Quote
Economic theorists, like French chefs in regard to food, have developed stylized models whose ingredients are limited by some unwritten rules. Just as traditional French cooking does not use seaweed or raw fish, so neoclassical models do not make assumptions derived from psychology, anthropology, or sociology. I disagree with any rules that limit the nature of the ingredients in economic models.
George Akerlof / Economist
Cooking
Economic Models
Psychology
Copy Quote
Some time ago a little-known Scottish philosopher wrote a book on what makes nations succeed and what makes them fail. The Wealth of Nations is still being read today. With the same perspicacity and with the same broad historical perspective, Daron Acemoglu and James Robinson have retackled this same question for our own times. Two centuries from now our great-great- . . . -great grandchildren will be, similarly, reading Why Nations Fail.
George Akerlof / Economist
Book
Grandchildren
Reading
Copy Quote

Related Economist Authors

Thomas Sowell
Economist
Monday, Jun 30, 1930
William Stanley Jevons
Economist
Tuesday, Sep 01, 1835
Sunday, Aug 13, 1882
William Petty
Economist
Friday, May 26, 1623
Tuesday, Dec 16, 1687
William Forsyth Sharpe
Economist
Saturday, Jun 16, 1934
William Easterly
Economist
Saturday, Sep 07, 1957
William Beveridge
Economist
Wednesday, Mar 05, 1879
Saturday, Mar 16, 1963
William A. Niskanen
Economist
Monday, Mar 13, 1933
Wednesday, Oct 26, 2011
Willem Buiter
Economist
Monday, Sep 26, 1949
Will Hutton
Economist
Sunday, May 21, 1950
Werner Sombart
Economist
Monday, Jan 19, 1863
Sunday, May 18, 1941
Wassily Leontief
Economist
Sunday, Aug 05, 1906
Friday, Feb 05, 1999
Wang Anshi
Economist
Saturday, Dec 08, 1021
Friday, May 21, 1086
Walter Heller
Economist
Friday, Aug 27, 1915
Monday, Jun 15, 1987
Walter E. Williams
Economist
Tuesday, Jun 30, 1936
Walter Block
Economist
Thursday, Aug 21, 1941

View All Economist Quotes

Top Authors

Saint Augustine
Saint
Saturday, Nov 13, 0354
Wednesday, Aug 28, 0430
Paulo Coelho
Lyricist
Sunday, Aug 24, 1947
Walt Whitman
Poet
Monday, May 31, 1819
Saturday, Mar 26, 1892
Barack Obama
44Th U.s. President
Friday, Aug 04, 1961
Ernest Hemingway
Author
Friday, Jul 21, 1899
Sunday, Jul 02, 1961
John C. Maxwell
Author
Thursday, Feb 20, 1947
Alfred Lord Tennyson
Poet
Saturday, Aug 05, 1809
Thursday, Oct 06, 1892
Johann Wolfgang Von Goethe
Writer
Thursday, Aug 28, 1749
Thursday, Mar 22, 1832
John F. Kennedy
35Th U.s. President
Tuesday, May 29, 1917
Friday, Nov 22, 1963
Jordan Peterson
Psychologist
Joe Biden
Vice President Of The United States
Friday, Nov 20, 1942
George Carlin
Comedian
Wednesday, May 12, 1937
Sunday, Jun 22, 2008
Napoleon Hill
Author
Friday, Oct 26, 1883
Sunday, Nov 08, 1970
Albert Camus
Author
Friday, Nov 07, 1913
Monday, Jan 04, 1960
Jean De La Bruyere
Wednesday, Aug 16, 1645
Thursday, May 10, 1696

View All Authors

George Akerlof Quotes - Page 1

App & Tools

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page

Stay Connected

App & Tools

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page