"I think Gary's work is focused on outcomes. Sometimes people react to it because they don't like it as a description of the process. They think about marriage; they think about what they went thought when you got married, and they say it didn't resemble Gary's model. One doesn't think, "Was I calculating what my wife could get or could produce?" No one thinks about getting married in these terms explicitly. But the idea is that somehow those considerations are sufficiently important that they must be incorporated into the process. Moreover, you can test the model, so that if the theory is off, the data will let you know about it."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesBloggers from the United StatesLibertarians from the United StatesEconomists from the United StatesNobel laureates in Economics
Original Language: English
Available Languages (1)
Sources
Robert E. Lucas, in Conversations with Economists (1983) by Arjo Klamer
https://en.wikiquote.org/wiki/Gary_Becker
Revision History
No revisions have been submitted for this quote.
Categories
Gary Becker
Gary Stanley Becker (December 2, 1930 – May 3, 2014) was an American economist and a professor of economics and sociology at the . Described as “the most important social scientist in the past 50 years” by the New York Times, Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007.
12 quotes on TrueQuotesView all quotes by Gary Becker →
Related Quotes
"Clearly, there is a great deal in Becker’s legacy to be deeply disturbed about. But there is also something about Bec…"
"[ Milton Friedman was] the dominant member of the so-called Chicago school of economics [during his tenure at Chicago…"
"I conclude by listing several main points of this essay: 1. Human capital is of great importance in the modern econom…"
"[A] revenue-neutral carbon tax would benefit all Americans by eliminating the need for costly energy subsidies while …"
"Imagine each family as a kind of little factory--a multiperson unit producing meals, health, skills, children, and se…"
"An efficient marriage market develops ‘‘shadow’’ prices to guide participants to marriages that will maximize their e…"
"The phrase ‘marriage market’ is used metaphorically and signifies that the mating of human populations is highly syst…"
"The bumping of lower-quality men out of their marriages through competitive reductions in the incomes of higher-quali…"
"[Gale and Shapley assumed that each person has] a given ranking [among] potential mates that determines rather than i…"
"You can see why Foucault chose him as the ideal interlocutor. No one saw and stated more clearly the biopolitical dim…"