The whole intention of empirical economics is to force theory down to Earth. Download Download Share on Facebook Share on Twitter Rotate quotes earth economics empirical
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 aggregatebusinesscause share on social
The only way we are going to ameliorate pressing social needs is through public intervention. George Akerlof ameliorateinterventionpress Change image and share on social
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 1960sclassicaleconomist Change image and share on social
I feel sorry for generations of Labour voters and supporters who must look and wonder what on earth has gone wrong and what Labour is for. Nicola Sturgeon earthfeelgeneration Change image and share on social
I studied international relations and economics at the University of Virginia. I paid my way by working as a bartender in the summer and at three part-time jobs during the year. Jacqueline Novogratz bartendereconomicsinternational Change image and share on social
Morality arose largely as an empirical defence of the individual and society. Ever since intelligent beings began to be in contact, and consequently in friction, they have felt the need to guard themselves against each other's encroachments. Pierre Teilhard de Chardin arisebeginbeing share on social
