Paul Samuelson
Paul Samuelson
Paul Anthony Samuelsonwas an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". Economic historian Randall E. Parker calls him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century"...
NationalityAmerican
ProfessionEconomist
Date of Birth15 May 1915
CountryUnited States of America
The stock market has forecast nine of the last five recessions
The consumer, so it is said, is the king... each is a voter who uses his money as votes to get the things done that he wants done
Good questions outrank easy answers.
Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.
What we know about the global financial crisis is that we don't know very much.
Macroeconomics, even with all of our computers and with all of our information. is not an exact science and is incapable of being an exact science.
An intriguing paradox of the 1990s is that it isn't called a decade of greed.
I don't care who writes a nation's laws-or crafts its advanced treaties-if I can write its economics textbooks
Economics never was a dismal science. I should be a realistic science.
Kelsoism is not accepted by modern scientific economics as a valid and fruitful analysis of the distribution of income but rather it is regarded as an amateurish and cranky fad.
Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.
To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.
Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
First, those who disagree with market efficiency simply assert that it stands to common sense that greater effort to get facts and greater acumen in analyzing those facts will pay off in better performance somehow measured. (By this logic, cure for cancer must have been found by 1955).