They talk a good game, but economists hardly know enough about business cycles to figure out where they come from, let alone where they’re going.
Gary Becker Quotes
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.
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| Birth: | 2nd December, 1930 |
| Death: | 3rd May, 2014 |
| Nationality: | American |
| Profession: | Economist, Professor |
About
Gary Stanley Becker was born in Pottsville, Pennsylvania, USA. He was an American economist and a professor of economics and sociology at the University of Chicago. He 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. He was known for arguing that many different types of human behavior can be seen as rational and utility maximizing. He was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007.
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