"I was good at math and science, and it was expected that I would attend the University of Washington in Seattle and become an engineer. But by the time I was seventeen, I was ready to leave home, a decision my parents agreed to support if I could obtain a scholarship. MIT did not grant me one, but the University of Chicago did."
Robert Lucas, Jr.Tiny Panda Quotes
Quotes by Robert Lucas, Jr.
Robert Lucas, Jr. (1937-2023) was a pioneering American economist whose groundbreaking work in the field of macroeconomics fundamentally reshaped our understanding of economic policy and expectations. A recipient of the Nobel Prize in Economic Sciences in 1995, Lucas is best known for the development of the "Lucas Critique," which emphasizes the importance of considering how policy changes influence individual expectations. His innovative ideas laid the groundwork for New Classical Economics, influencing both academic thought and practical policy worldwide, leaving an indelible mark on the discipline.
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