In 1995, economist Rachel Kranton wrote future Nobel Prize–winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics. Identity economics is a new way to understand people’s decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don’t; why some schools succeed and others don’t; why some cities and towns don’t invest in their futures—and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People’s notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people’s identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people’s identity can also be crucial determinants of their economic well-being.
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" Identity Economic Theory which asses the supply and demand involved with identity and their commitment to the task at hand. Goffman's Marry-go-round theory. Works well. " — Ismail (5 out of 5 stars)
" Identity Economic Theory which asses the supply and demand involved with identity and their commitment to the task at hand. Goffman's Marry-go-round theory. Works well. "
“Akerlof…and Kranton…explore the links between our identities and the everyday decisions we make about earning and spending money. Their goal is to add a more personal touch to economics.”
“An important new book…Professor Akerlof and Rachel Kranton have invented Identity Economics.”
“By the end of the book, my overwhelming feeling was that the authors had made a pretty robust case for why our profession should pay greater attention to the social structures that underpin our economic decisions. For this, they should be highly commended.”
" Akerlof offers a very accessible take on the way in which cultural and identity shapes our consumption decisions. "
George A. Akerlof, winner of the 2001 Nobel Prize in Economics, is the Koshland Professor of Economics at the University of California, Berkeley. He is the coauthor, with Robert Shiller, of Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism.
Lloyd James (a.k.a. Sean Pratt) has been narrating since 1996 and has recorded over six hundred audiobooks. He is a seven-time winner of the AudioFile Earphones Award and has twice been a finalist for the prestigious Audie Award. His critically acclaimed performances include Elvis in the Morning by William F. Buckley Jr. and Searching for Bobby Fischer by Fred Waitzkin, among others.
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