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Robert H. Frank

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Famous Robert H. Frank Quotes

“Questions like, "Is my suit OK?", or "Is my job performance satisfactory?", are impossible to think about in the absence of a suitable frame of reference. For an interview suit to serve its purpose, it must make you look good relative to other candidates for the job you want. For your job performance to be satisfactory, it must compare favorably with the performance of others who want the same promotion you do. As Charles Darwin saw clearly, much of life is graded on the curve, and conventional economic models completely ignore that fact.”

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“We're in a classic demand-shortfall recession. There aren't enough jobs because total spending is too low. Consumers won't lead the way because they're busy paying down debt and are fearful they'll lose their jobs, if they haven't already. Businesses, which are currently sitting on mountains of cash, won't spend either, because they already have sufficient capacity to produce more than people are willing to buy.”

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Author:Robert H. Frank
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“We've long known that firms can pay higher wages if they spend less on workplace safety enhancement. Libertarians ask, "If a worker is willing to accept higher wages in return for his agreement to exercise greater caution while performing his job, why should the government prevent him from making that choice?" It's a rhetorically powerful question, yet it overlooks the fact that the agreement in question will have adverse effects on others.”

IfsShouldLongFactsGovernmentJobsChoicesAsksPowerfulPayKnownAcceptingGreaterEffectsWillingReturnHigherExerciseSafetyWorkersLibertarianFirmPerformingAgreementWorkplaceWagesCautionAdverseEnhancementWorkplace SafetyAdverse Effects
Author:Robert H. Frank
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“It is no exaggeration to say that rising inequality has driven many of the 99 percent into a financial ditch. It also helped spawn the housing bubble that gave us the financial crisis of 2008, the lingering effects of which have forced many OWS protesters to try to launch their careers in by far the most inhospitable labor market we've seen since the Great Depression. Even those recent graduates who manage to find jobs will suffer a lifelong penalty in reduced wages.”

TryingJobsSufferingCareersEffectsPercentLaborCrisisFinancialDrivenManageInequalityRisingGraduatesBubblesPenaltiesWagesHousingLifelongExaggerationGreat DepressionFinancial CrisisLingeringSpawnHousing Bubble
Author:Robert H. Frank
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