Quote by George Akerlof
"We must acknowledge that economic activity is embedded in broader social and cultural contexts."
More from George Akerlof
"The market for lemons is a classic example of how asymmetric information can cause market failure."
"Information is not symmetrically distributed among market participants, which fundamentally changes how markets operate."
"We must understand that people are not always rational actors with perfect information."
"Trust is the foundation of all economic transactions and relationships."