Quote

Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition.

I love Richard Thaler's 'Quasi Rational Economics.' A collection of some of his most interesting and inventive essays, the real foundation of behavioral economics.

Economists create their own worlds. We're like little gods with our artificial economics, wanting to see what happens.

Economics is mostly how humans rationalize who gets what and why. It's how we instantiate our preferences about status, privileges, and power.

I think economics - and this is what I've tried to impart - has a tremendous amount of human interest in it.

I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.

That subject has lost its one time appeal to economists as our science has become more abstract, but my interest has even grown more intense as the questions raised by the sociology of science became more prominent.

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.