George Akerlof

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.

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These are some quotes by American author George Akerlof Economist, who was born on June 17, 1940.

Quotes by 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.

George Akerlof

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

George Akerlof

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Keynesian economics has always been needed.

George Akerlof

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I want to tell mayors, county chiefs and heads of big companies: don't just chase GDP growth; don't chase the biggest profits at the expense of our children and grandchildren and at the cost of sacrificing our ecological environment.

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