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Professor George Akerlof, University of California: “Identity Economics”

The inaugural conference of the Institute for New Economic Thinking (INET) brought policy makers, chief theorists, Nobel Prize winners in their profession and historians of economic thought to one place to learn from one another.

Identity Economics, the new book by Nobel Prize winner George Akerlof, Koshland Professor of Economics at the University of California, says you can systematically trace the roots of the current financial crisis to that bonus culture.