“The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.”
Quote by Robert Lucas, Jr.
Author
Robert Lucas, Jr.
Robert Lucas Jr. (September 15, 1937 – May 15, 2023) was an American economist who won the 1995 Nobel Prize in Economics. He was a central figure in the new classical macroeconomics school, best known for developing the rational expectations theory, which fundamentally changed macroeconomic analysis. Lucas taught at the University of Chicago for decades, and his research covered economic growth, monetary theory, and business cycles. His contributions include the Lucas critique, the Lucas supply curve, and human capital models, profoundly influencing modern economics. more
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