Saurav SinghNovember 24, 2023Last Updated: December 1, 2023
Less than a minute
Gary Becker (2 December 1930 – 3 May 2014) was an American economist who made significant contributions to the field of economics, particularly in the areas of human capital, labor economics, and the economics of discrimination. He received the Nobel Memorial Prize in Economic Sciences in 1992 for his work in these areas.
Famous Gary Becker Quotes
Some of the Famous quotation by Gary Becker are mentioned below: –
Human capital analysis starts with the assumption that individuals decide on their education, training, medical care, and other additions to knowledge and health by weighing the benefits and costs. Benefits include cultural and other non-monetary gains along with improvement in earnings and occupations, while costs usually depend mainly on the foregone value of the time spent on these investments.I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour.Economy is the art of making the most of life.Along with others, I have tried to pry economists away from narrow assumptions about self interest. Behavior is driven by a much richer set of values and preferences.Different constraints are decisive for different situations, but the most fundamental constraint is limited time.
“The Treatise tries to analyze not only modern Western families, but also those in other cultures and the changes in family structure during the past several centuries.” ~ Gary Becker
“Fines are preferable to imprisonment and other types of punishment because they are more efficient. With a fine, the punishment to offenders is also revenue to the State.” ~ Gary Becker
“Why in almost all societies have married women specialized in bearing and rearing children and in certain agricultural activities, whereas married men have done most of the fighting and market work?” ~ Gary Becker
“My work on human capital began with an effort to calculate both private and social rates of return to men, women, blacks, and other groups from investments in different levels of education.” ~ Gary Becker
“I was not sympathetic to the assumption that criminals had radically different motivations from everyone else.” ~ Gary Becker
“The most fundamental constraint is limited time” ~ Gary Becker
“Even a wizard would have a great deal of difficulty repealing the economic law that higher minimum wages reduce employment. Since politicians are not wizards, they should not try.” ~ Gary Becker
