21 Quotes by Gary Becker

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.

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.

A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.

The most fundamental constraint is limited time

Different constraints are decisive for different situations, but the most fundamental constraint is limited time.

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.

Economy is the art of making the most of life.

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.

I am saying that the economic approach provides a valuable unified framework for understanding all human behaviour