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George Akerlof
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#Tags
Keynesian economics has always been needed.
- George Akerlof
#Always
#Been
#Economics
#Needed
Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics.
- George Akerlof
#Early
#Institutions
#Market
#Unique
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
#Daughter
#Farmer
#Lived
#Railways
#Who
I think what Bob Shiller and I are doing is we're focusing on macroeconomics and the role of psychology in macroeconomics.
- George Akerlof
#Doing
#I Think
#Psychology
#Role
#Think
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
#Exercise
#Incentive
#Options
#Own
#Price
The whole intention of empirical economics is to force theory down to Earth.
- George Akerlof
#Down To Earth
#Down
#Earth
#Economics
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