Dale T. Mortensen Quotes

"Every great achievement is but a small peak in the mountain range of contributions."

"Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage."

"In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables."

"Economics is a strange science. Our subject deals with some of the most important as well as mundane issues that impinge on the human condition."

"Although labor income is by far the largest component of gross national product, a job is not just a commodity. For many, work is an important reason for living. Even for those who are less fortunate in their allocation of work, being unemployed is a miserable state."

"I grew up listening to my father argue politics into the night and taking trips every Saturday to the Hood River library where my mother maintained her interest in reading and encouraged the same from her sons."

"I was a good student with mathematical ability and interests. As such, I took the usual college preparatory program in high school for one looking to become an engineer: all the available courses in mathematics and science."

"The 1970s was the decade of developments in the new area of information economics. Search theory, which emphasized the need to gather information, was joined by models that featured asymmetric information, the case in which information differed across individual agents."