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George Akerlof Quotes


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Quotes by George Akerlof

Showing 1-10 of 18 Quotes by George Akerlof

I think what Bob Shiller and I are doing is we're focusing on macroeconomics and the role of psychology in macroeconomics.

~George Akerlof

Topics: Bob Doing Focusing Psychology Role Think I Think

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The only way we are going to ameliorate pressing social needs is through public intervention.

~George Akerlof

Topics: Going Intervention Needs Only Pressing Public Social Through Way

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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

Topics: Classical Economists Hated Lack Late Me Motivated New Rigor Same Saw Weaknesses 1960S

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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

Topics: Clerk Dairy Daughter Farmer Grandfather Grandmother Lived Near Railways Station Stockholm Swedish Who Worked

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I've always been a macroeconomist. That's what I teach. And I guess that's what I've been concerned with ever since I've been very young.

~George Akerlof

Topics: Always Been Concerned Ever Guess Since Teach Very Young

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Keynesian economics has always been needed.

~George Akerlof

Topics: Always Been Economics Needed

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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

Topics: Chief Chief Executive Compensation Concentrate Executive Executives Exercise Give His Incentive Much Options Own Particularly Perverse Price Raise Stock Too Too Much Wants You

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The whole intention of empirical economics is to force theory down to Earth.

~George Akerlof

Topics: Down Down To Earth Earth Economics Empirical Force Intention Theory Whole

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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

Topics: About Average Contribute Falls Housework Men More Outside Percent Rises Share Than Work

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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

Topics: According Any Behave Cost How Idea Identity Notion Pay People Should Situation Who You Your

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Biography

Nationality: American

Type: Economist

Born: June 17th, 1940

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