Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics. George Akerlof 1960scapturecharacteristic Change image and share on social
I would never have been a good reporter because I am not accurate regarding facts. George Akerlof accuratefactgood Change image and share on social
Keynesian economics has always been needed. George Akerlof economicskeynesianneed Change image and share on social
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 chemistryfathergraduate Change image and share on social
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
My father was a chemist on the Yale faculty, my mother a housewife. George Akerlof chemistfacultyfather Change image and share on social
My brother Carl became a physicist; I became an economist. George Akerlof brothercarleconomist Change image and share on social
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 averagecontributefall Change image and share on social
The failure of credit markets is one of the major reasons for underdevelopment. George Akerlof creditfailuremajor Change image and share on social
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 chiefcompensationconcentrate share on social
