That's what we teach all freshmen -- that investors and workers and everyone else in an economy respond in an important way to incentives, including tax incentives.
"Gary Stanley Becker" was an United States/American economist. He was professor of economics and sociology at the University of Chicago and at the University of Chicago Booth School of Business/Booth School of Business. He made important contributions to the family economics branch of economics. Neoclassical analysis of family within the family economics is also called new home economics.
He was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. He was a Rose-Marie and Jack R. Anderson senior fellow at the conservative Hoover Institution, located at Stanford University.
Becker was one of the first economists to branch into what were traditionally considered topics belonging to sociology, including racial discrimination, crime, family organization, and drug addiction (see rational addiction). He was known for arguing that many different types of human behavior can be seen as rational and utility maximizing. His approach included altruistic behavior of human behavior by defining individuals' utility appropriately. He was also among the foremost exponents of the study of human capital. Becker was also credited with the "rotten kid theorem."If you enjoy these quotes, be sure to check out other famous economists! More Gary Becker on Wikipedia.
The amount of crime is determined not only by the rationality and preferences of would-be criminals, but also by the economic and social environment created by public policies, including expenditures on police, punishments for different crimes, and opportunities for employment, schooling, and training programs.
A literature has developed on whether discrimination in the marketplace due to prejudice disappears in the long run. Whether employers who do not want to discriminate will eventually compete away all discriminating employers depends not only on the distribution of tastes for discrimination among potential employers, but critically also on the nature of firm production functions.
I was not sympathetic to the assumption that criminals had radically different motivations from everyone else.
A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.
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.
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.
It is a great film.
Is it fair or wise to place strict controls on legal immigration when little is done to stem illegal entry? Preference should be given to younger persons who will get jobs and are likely to make a long-term commitment to the country, such as the many men and women who want to study at American universities.