George Akerlof

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.

In a pine tree behind me, an eagle waits out the rain, hunched into himself, brooding. Crows squabble, a murder chasing a raven. Seals cruise the lines of fishing nets bobbing in the water, hoping for an easy meal, the tender bellies of salmon.

If we live a self-directed, self-motivated, self-centered life, always needing to get our own way, then we're going to be miserable. In fact, many times we believe it's our problems that are making us unhappy when, in reality, it's because we're focused on ourselves!