Home / Quotes / Quote by George Akerlof

Quote by George Akerlof

“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.”

Quote by George Akerlof

Author

George Akerlof is a renowned economist born on June 17, 1940, in the United States. His research in economics has made significant contributions to understanding market failures and asymmetric information issues. Akerlof was awarded the Nobel Prize in Economics in 2001 for his work in the labor market. more

You May Also Like

“Some time ago a little-known Scottish philosopher wrote a book on what makes nations succeed and what makes them fail. The Wealth of Nations is still being read today. With the same perspicacity and with the same broad historical perspective, Daron Acemoglu and James Robinson have retackled this same question for our own times. Two centuries from now our great-great- . . . -great grandchildren will be, similarly, reading Why Nations Fail.”

“My primary responsibility is to be funny.”

Responsibility Primaries

Author:Al Madrigal

“Stop throwing us all together like some sort of Puerto Ricaminican Tex-Mex buffet.”

Together Throwing Buffets

Author:Al Madrigal

“A single James creation is worth the whole output of a 7th Avenue year's work.”

Years Whole Creation Avenues Output

Author:James Galanos

“Molecular biology has shown that even the simplest of all living systems on the earth today, bacterial cells, are exceedingly complex objects. Although the tiniest bacterial cells are incredibly small, weighing less than 10-12 gms, each is in effect a veritable micro-miniaturized factory containing thousands of exquisitely designed pieces of intricate molecular machinery, made up altogether of one hundred thousand million atoms, far more complicated than any machine built by man and absolutely without parallel in the nonliving world.”

“Considering the way the prebiotic soup is referred to in so many discussions of the origin of life as an already established reality, it comes as something of a shock to realize that there is absolutely no positive evidence for its existence.”

Way Reality Realizing Existence Evidence Discussion Shock Considering Soup Origin Of Life

Book:Evolution: A Theory in Crisis

Source: Evolution: A Theory in Crisis

“The hold of the evolutionary paradigm is so powerful that an idea which is more like a principle of medieval astrology than a serious twentieth century scientific theory has become a reality for evolutionary biologists.”

Ideas Reality Powerful Principles Century Serious Theory Astrology Twentieth Century Medieval Paradigm Biologist Scientific Theory

Book:Evolution: A Theory in Crisis

Source: Evolution: A Theory in Crisis

“In the final analysis the hierarchic pattern is nothing like the straightforward witness for organic evolution that is commonly assumed. There are facets of the hierarchy which do not flow naturally from any sort of random undirected evolutionary process. If the hierarchy suggests any model of nature it is typology and not evolution. How much easier it would be to argue the case for evolution if all nature's divisions were blurred and indistinct, if the systema naturalae was largely made up of overlapping classes indicative of sequence and continuity.”

“If moral statements are about something, then the universe is not quite as science suggests it is, since physical theories, having said nothing about God, say nothing about right or wrong, good or bad. To admit this would force philosophers to confront the possibility that the physical sciences offer a grossly inadequate view of reality. And since philosophers very much wish to think of themselves as scientists, this would offer them an unattractive choice between changing their allegiances or accepting their irrelevance.”

Source: The Devil's Delusion: Atheism and Its Scientific Pretensions

“Commentators who today talk of 'The Dark Ages' when faith instead of reason was said to ruthlessly rule, have for their animadversions only the excuse of perfect ignorance. Both Aquinas' intellectual gifts and his religious nature were of a kind that is no longer commonly seen in the Western world.”

World Kind Said Reason Age Today Religious Dark Perfect Ignorance Intellectual Western Excuse Dark Ages Commentators Western World

Book:The Devil's Delusion: Atheism and Its Scientific Pretensions

Source: The Devil's Delusion: Atheism and Its Scientific Pretensions