George Akerlof Bio
George Arthur Akerlof is an esteemed economist who was born on June 17, 1940. He currently serves as a university professor at the McCourt School of Public Policy at Georgetown University, and he is also a Koshland Professor of Economics Emeritus at the University of California, Berkeley.
Akerlof’s contributions to the field of economics have been widely recognized, and he has been the recipient of several prestigious awards.
In 2001, he was awarded the Nobel Memorial Prize in Economic Sciences, jointly with Michael Spence and Joseph Stiglitz, for their pioneering work in analyzing markets with asymmetric information.
Akerlof’s research has had a significant impact on the study of economics, particularly in the areas of behavioral economics, macroeconomics, and environmental economics.
He is widely regarded as one of the most influential economists of his generation, and his work continues to inform policy decisions and academic research in the field.
George Akerlof Net Worth 2023
George Akerlof is estimated to have a net worth of $15 Million as of 2023. He has accumulated his net worth with the versatility he has shown in each field he has worked in. His primary source of income is his career as a professor. As he progresses in his career, his net worth is projected to rise.
George Akerlof Salary 2023
George Akerlof’s salary is $445,000 per year, and he gets a monthly salary of $98,333. He is an American university professor at the McCourt School of Public Policy at Georgetown University, and he is also a Koshland Professor of Economics Emeritus at the University of California, Berkeley.
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George Akerlof Age
George Akerlof is 83 years old as of 2023, he was born on June 17, 1940, in New Haven, Connecticut, United States. He normally celebrates his birthday with his family and close friends every year. His zodiac sign is Gemini.
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George Akerlof Career
George Akerlof is a highly accomplished American economist and a distinguished professor who has made significant contributions to his field. He began his career in academia as an assistant professor of economics at the University of California, Berkeley, immediately after completing his Ph.D. degree. However, he left his position after a year to work as a visiting professor at the Indian Statistical Institute in New Delhi. He returned to the United States in 1968 and resumed his teaching career at Berkeley, where he served as an associate professor and was voted for a tenure-track position.
In addition to his academic career, Akerlof has worked in various governmental and non-governmental organizations. He served as a senior economist at the White House Council of Economic Advisers from 1973 to 1974 and was a visiting research economist for the Federal Reserve Board of Governors in Washington, D.C. in 1977, where he met his future wife and co-author, Janet Yellen.
Akerlof’s career took him to the London School of Economics (LSE) in 1978, where he accepted a prestigious post as the Cassel Professor of Money and Banking, while his wife took a tenure-track lectureship. They spent two years in the United Kingdom before returning to the United States, where Akerlof became the Goldman Professor of Economics at Berkeley in 1980. He remained a faculty member at Berkeley for most of his career, except for a leave of absence in 1997 when his wife was named chair of the Council of Economic Advisers, during which time he worked for the Brookings Institution as a senior fellow.
In 2010, Akerlof received a position as a visiting scholar at the International Monetary Fund (IMF) and retired from Berkeley the same year, but he continued to remain an active researcher and scholar. Akerlof moved to Washington once again when his wife was confirmed to the Federal Reserve Board, and in 2014, he joined the McCourt School of Public Policy at Georgetown University as a university professor.
George Akerlof Wife
George Akerlof has been married twice in his life. His first marriage was to Kay Leong, an architect, in 1974. Unfortunately, the marriage didn’t last long, and they got divorced three years later, following his failure to get promoted to a full professorship at the University of California, Berkeley. After the divorce, Leong moved to New York and later remarried a fellow architect.
In 1978, Akerlof tied the knot with Janet Yellen, an economist who has had an illustrious career, serving as the Chair of the Federal Reserve and the current United States Secretary of the Treasury. Yellen is also a professor emeritus at the Haas School of Business at the University of California, Berkeley, where Akerlof spent most of his career as a faculty member.
The couple has one child together, a son named Robert, who was born in 1981. Robert Akerlof is also an economist and has followed in his parents’ footsteps, earning a bachelor’s degree in economics and mathematics from Yale University and a PhD in economics from Harvard University. Currently, he is working as an associate professor of economics at the University of Warwick.
George Akerlof Son
George Akerlof and Janet Yellen’s only child, Robert Akerlof, was born on 25th May 1981. Like his parents, Robert pursued a career in economics. He earned his Bachelor’s degree in economics and mathematics from Yale University and later obtained his PhD in economics from Harvard University.
Robert is currently an associate professor of economics at the University of Warwick, where he has been working since 2010. He has conducted extensive research in the fields of macroeconomics, labor economics, and the economics of crime. Some of his notable publications include “The Short-Run and Long-Run Effects of Behavioral Interventions: Experimental Evidence from Energy Conservation”, “Jobs for the Heartland: Place-Based Policies in 21st Century America”, and “The Economics of Corruption: A Survey”.