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
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. George Akerlof behavecostidea Change image and share on social
The whole intention of empirical economics is to force theory down to Earth. George Akerlof eartheconomicsempirical Change image and share on social
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 clerkdairydaughter Change image and 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
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. George Akerlof babydecideglobal 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'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. George Akerlof concernguesshave Change image and share on social
