Top 10 George Akerlof Quotes

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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.

I've always been a macroeconomist. That's what I teach. And I guess that's what I've been concerned with ever since I've been very young.

Keynesian economics has always been needed.

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.

The only way we are going to ameliorate pressing social needs is through public intervention.

The whole intention of empirical economics is to force theory down to Earth.

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.

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.

My father was a chemist on the Yale faculty, my mother a housewife.

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.

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