Gary S. Becker: Market

Gary S. Becker was American economist. Explore interesting quotes on market.
Gary S. Becker: 16 quotes0 likes

“An efficient marriage market develops ‘‘shadow’’ prices to guide participants to marriages that will maximize their expected well-being. These prices, central to the analysis in this chapter and the subsequent one, are responsible for the more powerful implications found in these chapters than in traditional discussions of marriage. Some other approaches are evaluated in Chapter 4.”

Gary S. Becker book A Treatise on the Family

Source: A Treatise on the Family, 1981, p. 39

“Imagine each family as a kind of little factory--a multiperson unit producing meals, health, skills, children, and self-esteem from market goods and the time, skills, and knowledge of its members. This is only one of the remarkable concepts explored by Gary Becker in his landmark work on the family. Becker applies economic theory to the most sensitive and fateful personal decisions, such as choosing a spouse or having children. He uses the basic economic assumptions of maximizing behavior, stable preferences, arid equilibria in explicit or implicit markets to analyze the allocation of time to child care as well as to careers, to marriage and divorce in polygynous as well as monogamous societies, to the increase and decrease of wealth from one generation to another.”

Gary S. Becker book A Treatise on the Family

Book abstract 2009
A Treatise on the Family, 1981

“[ Milton Friedman was] the dominant member of the so-called Chicago school of economics [during his tenure at Chicago]… The economics department increasingly reflected his approach and interests. These included deep commitment to the truth, appreciation of markets and free enterprise, frank and blunt discussion, and enormous zeal to convince the heathen. But most important was the commitment to economic analysis as a powerful instrument for interpreting economic and social life.”

Gary S. Becker

Gary Becker (1991). "Milton Friedman." In: Edward Shils, ed. Remembering the University of Chicago: Teachers, Scientists and Scholars. Chicago: University of Chicago Press, pp. 140-6

“The phrase ‘marriage market’ is used metaphorically and signifies that the mating of human populations is highly systematic and structured.”

Gary S. Becker book A Treatise on the Family

Source: A Treatise on the Family, 1981, p. 39