George Akerlof quotes

To understand the economy then is to comprehend how it is driven by the animal spirits. Just as Adam Smith's invisible hand is the keynote of classical economics, Keynes' animal spirits are the keynote to a different view of the economy - a view that explains the underlying instabilities of capitalism. (George Akerlof)
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. View quote
George Akerlof
The failure of credit markets is one of the major reasons for underdevelopment. View quote
George Akerlof
Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics. View quote
George Akerlof
The only way we are going to ameliorate pressing social needs is through public intervention. View quote
George Akerlof
I would never have been a good reporter because I am not accurate regarding facts. View quote
George Akerlof
Parents don't take a baby's temperature to decide whether the room is too warm; likewise, for global warming, we need a story that spurs us to do what is necessary. View quote
George Akerlof