A Quote by George Akerlof

Prior to the early 1960s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics.

George Akerlof

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Capture Characteristics Constructed Early Economic Institutions Market Models Prior Rarely Specific Theorists Unique

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George Akerlof
American - Economist
Born: June 17, 1940

Economic theorists, like French chefs in regard to food, have developed stylized models whose ingredients are limited by some unwritten rules. Just as traditional French cooking does not use seaweed or raw fish, so neoclassical models do not make assumptions derived from psychology, anthropology, or sociology. I disagree with any rules that limit the nature of the ingredients in economic models.

George Akerlof

We want to develop a technology that's globally applicable, that's not customized for a specific city or a specific country. The only way to do that is to be able to test every day in a diversity of environments.

Karl Iagnemma

You have to look for a unique quality in that person and it's not just always physical. I don't think models are great models because of their face or their body. Obviously, I think their physical characteristics are important, but I think it's very much about your personality and inner beauty and really understanding how to be a great model instinctively. And that's where it all comes from.

Michael Flutie

I always wanted to make a cover album consisting of obscure psychedelic music from the 1960s - all re-shaped and customized, Ulver style.

Kristoffer Rygg

For the authentic revolutionary conservative, what really counts is to be faithful not to past forms and institutions, but rather to principles of which such forms and institutions have been particular expressions, adequate for a specific period of time and in a specific geographical area.

Julius Evola

Much theoretical work, of course, focuses on existing economic institutions. The theorist wants to explain or forecast the economic or social outcomes that these institutions generate.

Eric Maskin

During the early 1960s, I decided to supplement research support for quantitative economic studies at Pennsylvania by selling econometric forecasts to private and public sector buyers.

Lawrence R. Klein

Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.

Warren Buffett

In the name of feminism, we denied some essential aspects of our authentic selves. While feminism should have been nothing if not a celebration of our own unique characteristics, we insisted that we had no unique characteristics... that gender differences were hogwash, and a feminine woman was nothing more than a plaything for men.

Marianne Williamson

The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the United States or in the Soviet Union, is rarely hostile to the institutions - the private business enterprise, the Communist Party - that reflect the dominant economic power. Not to notice this takes effort, although many succeed.

John Kenneth Galbraith

Just as the unique characteristics of both males and females contribute to the completeness of a marriage relationship, so those same characteristics are vital to the rearing, nurturing, and teaching of children.

David A. Bednar

The marvellous thing about writing, whether it be fiction or journalism, is that it is simultaneously the most intimate and the most anonymous of meetings between people. It is profoundly intimate in reaching into the psyche of another, at the same time as being devoid of social characteristics, cultural characteristics, economic characteristics.

Will Self

Oslo is a city with a hidden beauty that I wanted to explore and find out if it was possible to capture the specific feeling of bicycling home from a party early in the morning just as the sun is coming up.

Joachim Trier

People employed in financial institutions are rarely interesting and even more rarely likable.

Nassim Nicholas Taleb

Economic management involves the operation of economic frameworks in real time - for example, in the private sector, the management of complex financial institutions or, in the public sector, the day-to-day supervision of those institutions.

Ben Bernanke

From the early 1960s to the mid-1980s - the era of military dictatorship when South Korea was rebuilding itself from a postwar economic basket case to a humming, modern nation - military schools were the track of choice for ambitious young men.

Kim Young-ha

A Quote by George Akerlof

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