Paul A. Samuelson
Keynesian economics
Photo taken 1950 (age 35)
Birth
May 15 1915(1915-05-15)
Gary Indiana USA
Death
December 13 2009(2009-12-13) (aged 94)
Belmont Massachusetts USA
Nationality
United States
Institution
Massachusetts Institute of Technology
Field
Macroeconomics
Alma mater
Harvard University (Ph.D.)
University of Chicago (B.A.)
Opposed
Friedman
Influences
Keynes Schumpeter Leontief Haberler Hansen Wilson Wicksell Lindahl
Influenced
Fischer Klein Merton Subramanian
Contributions
Neoclassical synthesis
Mathematical economics
Economic methodology
Revealed preferences theory
International trade theory
Economic growth theory
Public goods theory
Awards
John Bates Clark Medal (1947)
Nobel Memorial Prize in Economic Sciences (1970)
Information at IDEAS/RePEc
Langley Loop sign contract gets city’s OK
Langley has reached agreement with Island County on the Langley Loop sign project.
Langley has reached agreement with Island County on the Langley Loop sign project.
debido a los intereses creados cargados de avaricia y de ansas de codicia que existen entre los que detentan el poder econmico financiero que tanto ha corrompido al resto de los poderes El desarrollo sostenible no slo es para la salida de la crisis actual una solucin genial Tambin es una solucin sencilla y fcil de comprender y en absoluto nada complicada a la
http://www.nabarralde.com/orriak/eu/nabarmena/ar3706.htm
Paul Samuelson - Wikipedia, the free encyclopedia
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist, and the first American to win the Nobel Prize in Economics. ...
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist, and the first American to win the Nobel Prize in Economics. ...
Paul Anthony Samuelson (May 15 1915 December 13 2009) was an American economist and the first American to win the Nobel Prize in Economics. 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."1 Economic historian Randall E. Parker calls him the "Father of Modern Economics"2 and The New York Times considered him to be the "foremost academic economist of the 20th century."3
Langley councilman questions secrecy on lawsuit
With a new lawsuit against the city now underway in Island County Superior Court and making headlines in the local newspaper, Langley City Councilman Hal Seligson is wondering why the council wasn’t given a head’s up that the city was getting sued.
With a new lawsuit against the city now underway in Island County Superior Court and making headlines in the local newspaper, Langley City Councilman Hal Seligson is wondering why the council wasn’t given a head’s up that the city was getting sued.
Paul A. Samuelson - Biography
Nobelprize.org, The Official Web Site of the Nobel Prize ... last 'generalist' in economics," wrote Paul Anthony Samuelson, Professor of Economics at the Massachusetts ...
Nobelprize.org, The Official Web Site of the Nobel Prize ... last 'generalist' in economics," wrote Paul Anthony Samuelson, Professor of Economics at the Massachusetts ...
He was author of the largest-selling economics textbook of all time: Economics: An Introductory Analysis first published in 1948. It was the second American textbook to explain the principles of Keynesian economics and how to think about economics and the first one to be successful4 and is now in its 19th edition having sold nearly 4 million copies in 40 languages. James Poterba former head of MIT's Department of Economics noted that by his book Samuelson "leaves an immense legacy as a researcher and a teacher as one of the giants on whose shoulders every contemporary economist stands."1 In 1996 when he was awarded the National Medal of Science considered America's top science honor President Bill Clinton commended Samuelson for his "fundamental contributions to economic science" for over 60 years.1
Corruption casts a shadow over India's growth, says Lord Paul
CHENNAI: “We have made a lot of progress economically in India but there is a great shadow over our progress — and that is corruption,” India-born British industrialist Lord Paul of Marylebone has said.
CHENNAI: “We have made a lot of progress economically in India but there is a great shadow over our progress — and that is corruption,” India-born British industrialist Lord Paul of Marylebone has said.
Paul Anthony Samuelson: The Concise Encyclopedia of Economics ...
More than any other economist, Paul Samuelson raised the level of mathematical analysis in the profession. ... Samuelson wrote his first published article, "A Note on the ...
More than any other economist, Paul Samuelson raised the level of mathematical analysis in the profession. ... Samuelson wrote his first published article, "A Note on the ...
He entered the University of Chicago at age 16 during the depths of the Great Depression and received his PhD in economics from Harvard. After graduating he became an assistant professor of economics at Massachusetts Institute of Technology (MIT) when he was 25 years of age and a full professor at age 32. In 1966 he was named Institute Professor MIT's highest faculty honor.1 He spent his career at MIT where he was instrumental in turning its Department of Economics into a world-renowned institution by attracting other noted economists to join the faculty including Robert M. Solow Paul Krugman Franco Modigliani Robert C. Merton and Joseph E. Stiglitz all of whom went on to win Nobel Prizes. Samuelson was instrumental in the initial development of Indian Institute of Management Calcutta the first Indian Institute of Management.5
Langley City Council cuts mayor’s pay, slightly
LANGLEY — The Langley City Council has decided to trim the salary it pays the mayor.
LANGLEY — The Langley City Council has decided to trim the salary it pays the mayor.
Paul Samuelson
Paul Samuelson on WN Network delivers the latest Videos and Editable pages for News & Events, including Entertainment, Music, Sports, Science and more, ...
Paul Samuelson on WN Network delivers the latest Videos and Editable pages for News & Events, including Entertainment, Music, Sports, Science and more, ...
He served as an advisor to Presidents John F. Kennedy and Lyndon B. Johnson and was a consultant to the United States Treasury the Bureau of the Budget and the President's Council of Economic Advisers. Samuelson wrote a weekly column for Newsweek magazine along with Chicago School economist Milton Friedman where they represented opposing sides: Samuelson took the Keynesian perspective and Friedman represented the Monetarist perspective.6 Samuelson died on December 13 2009 at the age of 94.
Contents
1 Biography
1.1 Death
2 Impact
2.1 Thermodynamics and economics
3 Publications
4 Fields of interest
5 Miscellaneous
6 Memberships
7 List of publications
8 See also
9 References
10 Further reading
11 External links
Biography
Fischer’s Age, Nationality Are Hurdles in Bid for IMF Post
Bank of Israel Governor Stanley Fischer, who helped the International Monetary Fund end crises in Mexico, Russia and Southeast Asia, faces the dual hurdles of age and nationality in his quest for the lender’s top job.
Bank of Israel Governor Stanley Fischer, who helped the International Monetary Fund end crises in Mexico, Russia and Southeast Asia, faces the dual hurdles of age and nationality in his quest for the lender’s top job.
Paul Samuelson
One of the Twentieth Century's most influential economists, Paul Samuelson improved the quality of mathematical analysis in his field, formalized ...
One of the Twentieth Century's most influential economists, Paul Samuelson improved the quality of mathematical analysis in his field, formalized ...
Samuelson was born in Gary Indiana on May 15 1915 to Frank Samuelson a pharmacist and the former Ella Lipton. His family he said was made up of upwardly mobile Jewish immigrants from Poland who had prospered considerably in World War I because Gary was a brand new steel town when my family went there.3 In 1923 Samuelson moved to Chicago; he studied at the University of Chicago and received his Bachelor of Arts degree there in 1935. He then completed his Master of Arts degree in 1936 and his Doctor of Philosophy in 1941 at Harvard University. As a graduate student at Harvard Samuelson studied economics under Joseph Schumpeter Wassily Leontief Gottfried Haberler and the "American Keynes" Alvin Hansen. Samuelson comes from a family of well-known economists including brother Robert Summers sister-in-law Anita Summers and nephew Larry Summers.
Options as a Tool for the Value Investor: An Elementary Perspective (Part 1)
By Humberto Fosado. Derivatives have been called "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal" (Buffett). Option trading is no exception. The buyer of an option could find his investment rendered worthless in a relatively short time. By the same token, an option writer (if uncovered) finds herself in an extremely risky position and might ...
By Humberto Fosado. Derivatives have been called "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal" (Buffett). Option trading is no exception. The buyer of an option could find his investment rendered worthless in a relatively short time. By the same token, an option writer (if uncovered) finds herself in an extremely risky position and might ...
Paul Samuelson
Paul Anthony Samuelson was born on May 15, 1915, in Gary, Indiana. ... After completing his studies, Samuelson became an Assistant Professor of economics at MIT, Associate ...
Paul Anthony Samuelson was born on May 15, 1915, in Gary, Indiana. ... After completing his studies, Samuelson became an Assistant Professor of economics at MIT, Associate ...
During his seven decades as an economist Samuelson's professional positions included:
Assistant Professor of Economics at M.I.T 1940 Associate Professor 1944.
Member of the Radiation Laboratory 1944-1945.
Professor of International Economic Relations (part-time) at the Fletcher School of Law and Diplomacy in 1945.
Guggenheim Fellowship from 1948 to 1949
Professor of Economics at M.I.T. beginning in 1947 and Institute Professor beginning in 1962.
Vernon F. Taylor Visiting Distinguished Professor at Trinity University (Texas) in Spring 1989.
Death
Sunday’s All-State Baseball Series results
ALL-STATE BASEBALL SERIESSunday at Yakima County Stadium Game 3: Team Adams 6, Team Rainier 2, third-fourth place.Game 4: Team St. Helens 19, Team Baker 1, championship. Offensive MVP: Cole Loncar, Olympia (St. Helens).Defensive MVP: Paul Miller, Mead (St. Helens). ADAMS 6, RAINIER 2Third-fourth placeRainier 020 000 00 — 2 11 3Adams 100 040 01 — [...]
ALL-STATE BASEBALL SERIESSunday at Yakima County Stadium Game 3: Team Adams 6, Team Rainier 2, third-fourth place.Game 4: Team St. Helens 19, Team Baker 1, championship. Offensive MVP: Cole Loncar, Olympia (St. Helens).Defensive MVP: Paul Miller, Mead (St. Helens). ADAMS 6, RAINIER 2Third-fourth placeRainier 020 000 00 — 2 11 3Adams 100 040 01 — [...]
Paul Samuelson - Definition | WordIQ.com
Paul Samuelson (born May 15, 1915) is an American economist known for his work in many ... Generally speaking, Samuelson's contribution has been that, more than ...
Paul Samuelson (born May 15, 1915) is an American economist known for his work in many ... Generally speaking, Samuelson's contribution has been that, more than ...
Samuelson died after a brief illness on December 13 2009 at the age of 94.7 His death was announced by the Massachusetts Institute of Technology.3 James M. Poterba an economics professor at MIT and the president of the National Bureau of Economic Research commented that Samuelson "leaves an immense legacy as a researcher and a teacher as one of the giants on whose shoulders every contemporary economist stands".7 Susan Hockfield the president of MIT said that Samuelson "transformed everything he touched: the theoretical foundations of his field the way economics was taught around the world the ethos and stature of his department the investment practices of MIT and the lives of his colleagues and students".8
Impact
Southridge's Jacksons help St. Helens to title
YAKIMA -- Ty Jackson homered and drove in two runs, Bryce Jackson went 2-for-4 with a double and sco
YAKIMA -- Ty Jackson homered and drove in two runs, Bryce Jackson went 2-for-4 with a double and sco
ECONOMY PROFESSOR | Paul A. Samuelson
Paul Samuelson's most famous piece of work, Foundations of Economic ... Paul Samuelson moved on to M.I.T. where he built one of the century's most powerful ...
Paul Samuelson's most famous piece of work, Foundations of Economic ... Paul Samuelson moved on to M.I.T. where he built one of the century's most powerful ...
Samuelson is considered to be one of the founders of neo-Keynesian economics and a seminal figure in the development of neoclassical economics. In awarding him the Nobel Memorial Prize in Economic Sciences the committee stated:
More than any other contemporary economist Samuelson has helped to raise the general analytical and methodological level in economic science. He has simply rewritten considerable parts of economic theory. He has also shown the fundamental unity of both the problems and analytical techniques in economics partly by a systematic application of the methodology of maximization for a broad set of problems. This means that Samuelson's contributions range over a large number of different fields.
Are expensive cancer drugs worth the cost to Medicare?
The health care cost debate takes place on two stages using two languages, one scientific, the other economic. The net result is a failure to communicate. The scientific texts emanated over the weekend from the American Society of Clinical Oncology meeting in Chicago. Ongoing clinical trials showed that science has come up with new drugs that [...]
The health care cost debate takes place on two stages using two languages, one scientific, the other economic. The net result is a failure to communicate. The scientific texts emanated over the weekend from the American Society of Clinical Oncology meeting in Chicago. Ongoing clinical trials showed that science has come up with new drugs that [...]
Paul Samuelson
Paul Anthony Samuelson (born May 15, 1915) is an American neoclassical economist known for his contributions to many fields of economics, beginning ...
Paul Anthony Samuelson (born May 15, 1915) is an American neoclassical economist known for his contributions to many fields of economics, beginning ...
He was also essential in creating the Neoclassical synthesis which incorporated Keynesian and neoclassical principles and still dominates current mainstream economics. In 2003 Samuelson was one of the 10 Nobel Prize winning economists signing the Economists' statement opposing the Bush tax cuts.9
Thermodynamics and economics
Samuelson was one of the first economists to generalize and apply mathematical methods developed for the study of thermodynamics to economics. As a graduate student at Harvard he was the sole protg of the polymath Edwin Bidwell Wilson who had himself been a student of Yale physicist Willard Gibbs.10 Gibbs the founder of chemical thermodynamics was also mentor to American economist Irving Fisher and he influenced them both in their ideas on the equilibrium of economic systems.1112
Samuelson also published one of the first papers on nonlinear dynamics in economic analysis.13
Samuelson's 1947 magnum opus Foundations of Economic Analysis from his doctoral dissertation is based on the classical thermodynamic methods of American thermodynamicist Willard Gibbs specifically Gibbs' 1876 paper On the Equilibrium of Heterogeneous Substances.141516
In 1947 based on the Le Chatelier principle of thermodynamics a principle taught to Samuelson by Wilson in lecture he established the method of comparative statics in economics. This method explains the changes in the equilibrium solution of a constrained maximization problem (economic or thermodynamic) when one of the constraints is marginally tightened or relaxed. The Le Chatelier principle was developed by French chemist Henri Louis le Chatelier who is notable for being one of the first to translate Gibbs' equilibrium papers (in French 1899). Samuelson's use of the Le Chatelier principle has proven to be a very powerful tool and found widespread use in modern economics.17 Attempts at neo-classical equilibrium economics analogies with thermodynamics generally go back to Guillaume and Samuelson.18
Publications
Samuelson 1997
Samuelson's book Foundations of Economic Analysis (1947 Enlarged ed. 1983) is considered his magnum opus. It is derived from his doctoral dissertation at Harvard University and makes use of the classical thermodynamic methods of American thermodynamicist Willard Gibbs.14 The book proposes to:
examine underlying analogies between central features in theoretical and applied economics and
study how operationally meaningful theorems can be derived with a small number of analogous methods (p. 3)
in order to derive "a general theory of economic theories" (Samuelson 1983 p. xxvi). The book showed how these goals could be parsimoniously and fruitfully achieved using the language of the mathematics applied to diverse subfields of economics. The book proposes two general hypotheses as sufficient for its purposes:
maximizing behavior of agents (including consumers as to utility and business firms as to profit) and
economic systems (including a market and an economy) in stable equilibrium.
In the course of analysis comparative statics (the analysis of changes in equilibrium of the system that result from a parameter change of the system) is formalized and clearly stated.
The chapter on welfare economics "attempt(s) to give a brief but fairly complete survey of the whole field of welfare economics" (Samuelson 1947 p. 252). It also exposits on and develops what became commonly called the BergsonSamuelson social welfare function. It shows how to represent (in the maximization calculus) all real-valued economic measures of any belief system that is required to rank consistently different feasible social configurations in an ethical sense as "better than" "worse than" or "indifferent to" each other (p. 221).
There are 388 papers to date in Samuelson's Collected Scientific Papers. Stanley Fischer (1987 p. 234) writes that taken together they are unique in their verve breadth of economic and general knowledge mastery of setting and generosity of allusions to predecessors.
Samuelson is also author (and since 1985 co-author) of an influential principles textbook Economics first published in 1948 now in its 19th edition. The book has been translated into forty-one languages and sold over four million copies; it is considered the best-selling economics textbook in history. Written in the shadow of the Great Depression and World War II it helped to popularize the insights of John Maynard Keynes. A main focus was how to avoid or at least mitigate the recurring slumps in economic activity. Samuelson wrote: "It is not too much to say that the widespread creation of dictatorships and the resulting World War II stemmed in no small measure from the world's failure to meet this basic economic problem the Great Depression adequately."19 This reflected the concern of Keynes himself with the economic causes of war and the importance of economic policy in promoting peace.20 Despite Samuelson's incredibly influential textbook several economists have pointed out the shortcomings of Samuelson's work. In Samuelson's 1973 edition of his famous textbook he laid forth the prediction that the Soviet Union would catch up to the United States in per capita income by 1990 and almost certainly would by 2015 because of its superior economic system. Subsequent editions of his textbook would later push the date of his prediction back farther until the Soviet Union ultimately collapsed.21
Samuelson is co-editor of Inside the Economist's Mind: Conversations with Eminent Economists (Blackwell Publishing 2007) along with William A. Barnett a collection of candid interviews with top economists of the 20th century.
Fields of interest
As professor of economics at the Massachusetts Institute of Technology Samuelson worked in many fields including:
Welfare economics in which he popularised the LindahlBowenSamuelson conditions (criteria for deciding whether an action will improve welfare) and demonstrated in 1950 the insufficiency of a national-income index to reveal which of two social options was uniformly outside the other's (feasible) possibility function (Collected Scientific Papers v. 2 ch. 77; Fischer 1987 p. 236).
Public finance theory in which he is particularly known for his work on determining the optimal allocation of resources in the presence of both public goods and private goods.
International economics where he influenced the development of two important international trade models: the BalassaSamuelson effect and the HeckscherOhlin model (with the StolperSamuelson theorem).
Macroeconomics where he popularized the overlapping generations model as a way to analyze economic agents' behavior across multiple periods of time (Collected Scientific Papers v. 1 ch. 21).
Consumer theory he pioneered the Revealed Preference Theory which is a method by which it is possible to discern the best possible option and thus define consumer's utility functions by observing the consumer behaviour.
Miscellaneous
Stanislaw Ulam once challenged Samuelson to name one theory in all of the social sciences which is both true and nontrivial. Several years later Samuelson responded with David Ricardo's theory of comparative advantage: That it is logically true need not be argued before a mathematician; that is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them.22
For many years Samuelson wrote a column for Newsweek. One article included Samuelson's most quoted remark and a favorite economics joke:
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.23
Memberships
member of the American Academy of Arts and Sciences National Academy of Sciences Fellow of Royal Society of London
fellow of the American Philosophical Society and the British Academy;
member and past President (1961) of the American Economic Association
member of the editorial board and past-President (1951) of the Econometric Society
fellow council member and past Vice-President of the Economic Society.
member of Phi Beta Kappa.
List of publications
1947 Enlarged ed. 1983. Foundations of Economic Analysis Harvard University Press.
1948. Economics: An Introductory Analysis McGrawHill ISBN 0-07-074741-5 ; with William D. Nordhaus (since 1985) McGrawHill 18th ed. 2004. ISBN 0-07-287205-5
1952. "Economic Theory and Mathematics An Appraisal" American Economic Review 42(2) pp. 56-66 (press +).
1954. Paul A. Samuelson (1954). "The Pure Theory of Public Expenditure". Review of Economics and Statistics (The MIT Press) 36 (4): 387389. doi:10.2307/1925895
1958. Linear Programming and Economic Analysis with Robert Dorfman and Robert M. Solow McGrawHill
1966-86. The Collected Scientific Papers of Paul A. Samuelson MIT Press. Article-preview links below by scrolling to CONTENTS.
1966. Volume I 1937mid-1964.Previews.
1966. Volume II 1937mid-1964. Previews.
1972. Volume III mid-19641970. Previews.
1977. Volume IV 197176.
1986. Volume V 19771985. Previews.
In preparation Volumes VI and VII 19862009.
2007. Inside the Economist's Mind: Conversations with Eminent Economists with William A. Barnett Blackwell Publishing ISBN 1405159170
See also
Guaranteed minimum income
Neoclassical economics
Social welfare function
List of economists
List of Jewish Nobel laureates
History of economic thought
References
a b c d Frost Greg (Dec. 13 2009). "Nobel-winning economist Paul A. Samuelson dies at age 94". MIT News. http://web.mit.edu/newsoffice/2009/obit-samuelson-1213.html. "In a career that spanned seven decades he transformed his field influenced millions of students and turned MIT into an economics powerhouse"
Parker Randall E. (2002) Reflections on the Great Depression Cheltenham: Edward Elgar p. 25 ISBN 1843763354
a b c Weinstein Michael M. (December 13 2009). "Paul A. Samuelson Economist Dies at 94". New York Times. http://www.nytimes.com/2009/12/14/business/economy/14samuelson.html.
Samuelson's text was preceded by the 1947 The Elements of Economics by Lorie Tarshis which did not ultimately prove successful; see discussion.
"About IIM Calcutta". Indian Institute of Management Calcutta. http://www.iimcal.ac.in/campus/default.asp. Retrieved 16 March 2010.
Szenberg Michael; Gottesman Aron A.; Ramrattan lall (2005) Paul Samuelson: On Being an Economist New York: Jorge Pinto Books p. 18 ISBN 097426153X
a b "Nobel economics laureate Samuelson dies at 94". Reuters. December 13 2009. http://www.reuters.com/article/idUSTRE5BC15620091213.
"Economist Samuelson Nobel laureate dead at 94". Associated Press. http://www.google.com/hostednews/ap/article/ALeqM5j-K6R2y2lpSFlgfXk6OxTywQGwD9CIIR0O2.
"Economists' statement opposing the Bush tax cuts". April 3 2003. http://www.epi.org/publications/entry/econstmt2003/. Retrieved 2007-10-31.
Samuelson Paul A. (5 September 2003) How I Became an Economist http://nobelprize.org/nobelprizes/economics/articles/samuelson-2/index.html
Smith Eric; Foley Duncan (2005) Classical Thermodynamics and Economic General Equilibrium Theory http://homepage.newschool.edu/foleyd/econthermo.pdf
Mirowski Philip (1989) More Heat than Light: Economics as Social Physics Physics as Nature's Economics Cambridge University Press ISBN 0521426898
Sethi Rajiv (10 January 2010) "Paul Samuelson on Linear Dynamics" Rajiv Sethi's Blog http://rajivsethi.blogspot.com/2010/01/paul-samuelson-on-nonlinear-dynamics.html
a b Liossatos Panagis S. (2004). "Statistical Entropy in General Equilibrium Theory" (pg. 3). Department of Economics Florida International University.
Samuelson P. A. (1990) "Gibbs in economics" Proceedings of the Gibbs Symposium (Providence RI): pp. 255267
Jolls K. R. (1990) "Gibbs and the art of thermodynamics Gibbs in economics" Proceedings of the Gibbs Symposium (Providence RI): pp. 293321
Baumgarter Stefan (2004) "Thermodynamic Models" Modeling in Ecological Economics (Ch. 18) http://www.eco.uni-heidelberg.de/ng-oeoe/research/papers/Baumgaertner%202004%20ModEE.pdf
McCauley Joseph (2003) "Thermodynamic analogies in economics and finance: instability of markets" Physica A 329: 199212 http://mpra.ub.uni-muenchen.de/2159/01/MPRApaper2159.pdf
See Mankiw Gregory (January 10 2009) "Is government spending too easy an answer" New York Times http://www.nytimes.com/2009/01/11/business/economy/11view.html
See Markwell Donald (2006) John Maynard Keynes and International Relations: Economic Paths to War and Peace New York: Oxford University Press ISBN 0198292368
Levy David M.; Peart Sandra J. (December 3 2009) "Soviet Growth & American Textbooks" SSRN Working Paper http://papers.ssrn.com/sol3/papers.cfmabstractid1517983
Samuelson Paul (1969) "The Way of an Economist" in Samuelson P. A. International Economic Relations: Proceedings of the Third Congress of the International Economic Association London: Macmillan pp. 111
Samuelson Paul (September 19 1966) "Science and Stocks" Newsweek: p. 92
Further reading
Fischer Stanley (1987) "Samuelson Paul Anthony" The New Palgrave: A Dictionary of Economics (London: Macmillan) 4: pp. 234241 ISBN 0935859101 .
Silk Leonard (1976) The Economists New York: Basic Books ISBN 0465018106 .
Sobel Robert (1980) The Worldly Economists New York: Free Press ISBN 002929780X .
Fusfeld Daniel R. (2002) "The Neoclassical Synthesis" The Age of the Economist (9th ed.) Boston: Addison Wesley pp. 198201 ISBN 0321088123 .
External links
Wikiquote has a collection of quotations related to: Paul Samuelson
Biography at the Nobel e-Museum
1970 Press Release Nobel Prize in Economics
A History of Economic Thought biography
the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science.
Yale Honorand Biography
Nobel-winning economist Paul A. Samuelson dies at age 94
New York Times Obituary (14 December 2009)
Paul Samuelson - Daily Telegraph obituary
Paul Samuelson Memorial Session (January 4 2010) American Economic Association meetings Webcast links to remarks of: Solow & Diamond (after intro) in Part 1 (34 min.); Dixit Merton Poterba & Hall (including read remarks of Arrow & Fischer) Part 2 (48 min.).
v d eKeynesians
Founder
John Maynard Keynes
Neo-Keynesians
Alvin Hansen John Hicks James Meade Roy Harrod William Phillips Trygve Haavelmo Paul Samuelson James Tobin Franco Modigliani James Duesenberry Robert Eisner William Baumol Don Patinkin John G. Gurley Edward S. Shaw Lloyd Metzler Arthur Melvin Okun Robert Mundell Lawrence Klein Myron J. Gordon William Poole
Post Keynesians
Paul Davidson Joan Robinson Richard Kahn Micha Kalecki Abba P. Lerner Nicholas Kaldor Evsey Domar Hyman Minsky Jan Kregel Sidney Weintraub Geoff Harcourt Victoria Chick G. L. S. Shackle Steve Keen
New Keynesians
Edmund Phelps George Akerlof Stanley Fischer Olivier Blanchard Alan Blinder John B. Taylor Robert J. Gordon Joseph Stiglitz Robert Shiller Mark Gertler Maurice Obstfeld Paul Krugman Kenneth Rogoff Ben Bernanke Lawrence Summers Julio Rotemberg Michael Woodford Nobuhiro Kiyotaki David Romer N. Gregory Mankiw Nouriel Roubini Andrei Shleifer Jordi Gal Marc Melitz
v d eMacroeconomic schools of thought
Keynesian economics Monetarism New classical macroeconomics New Keynesian economics Neo-Keynesian economics Post-Keynesian economics Supply-side economics Austrian business cycle theory Real business cycle theory
v d eJohn Bates Clark Medal recipients
Paul Samuelson (1947) Kenneth E. Boulding (1949) Milton Friedman (1951) No Award (1953) James Tobin (1955) Kenneth Arrow (1957) Lawrence Klein (1959) Robert Solow (1961) Hendrik S. Houthakker (1963) Zvi Griliches (1965) Gary Becker (1967) Marc Nerlove (1969) Dale W. Jorgenson (1971) Franklin M. Fisher (1973) Daniel McFadden (1975) Martin Feldstein (1977) Joseph Stiglitz (1979) Michael Spence (1981) James Heckman (1983) Jerry A. Hausman (1985) Sanford J. Grossman (1987) David M. Kreps (1989) Paul Krugman (1991) Lawrence Summers (1993) David Card (1995) Kevin M. Murphy (1997) Andrei Shleifer (1999) Matthew Rabin (2001) Steven Levitt (2003) Daron Acemolu (2005) Susan Athey (2007) Emmanuel Saez (2009) Esther Duflo (2010) Jonathan Levin (2011)
v d eNobel Memorial Laureates in Economics
Ragnar Frisch / Jan Tinbergen (1969) Paul Samuelson (1970) Simon Kuznets (1971) John Hicks / Kenneth Arrow (1972) Wassily Leontief (1973) Gunnar Myrdal / Friedrich Hayek (1974) Leonid Kantorovich / Tjalling Koopmans (1975)
Complete roster 19691975 19762000 2001present
v d eUnited States National Medal of Science laureates
Behavioral and social science
1960s
1964: Roger Adams Othmar H. Ammann Theodosius Dobzhansky Neal Elgar Miller
1980s
1986: Herbert A. Simon 1987: Anne Anastasi George J. Stigler 1988: Milton Friedman
1990s
1990: Leonid Hurwicz Patrick Suppes 1991: Robert W. Kates George A. Miller 1992: Eleanor J. Gibson 1994: Robert K. Merton 1995: Roger N. Shepard 1996: Paul Samuelson 1997: William K. Estes 1998: William Julius Wilson 1999: Robert M. Solow
2000s
2000: Gary Becker 2001: George Bass 2003: R. Duncan Luce 2004: Kenneth Arrow 2005: Gordon H. Bower 2008: Michael I. Posner
Biological sciences
1960s
1963: C. B. van Niel 1964: Marshall W. Nirenberg 1965: Francis P. Rous George G. Simpson Donald D. Van Slyke 1966: Edward F. Knipling Fritz Albert Lipmann William C. Rose Sewall Wright 1967: Kenneth S. Cole Harry F. Harlow Michael Heidelberger Alfred H. Sturtevant 1968: Horace Barker Bernard B. Brodie Detlev W. Bronk Jay Lush Burrhus Frederic Skinner 1969: Robert Huebner Ernst Mayr
1970s
1970: Barbara McClintock Albert B. Sabin 1973: Daniel I. Arnon Earl W. Sutherland Jr. 1974: Britton Chance Erwin Chargaff James V. Neel James Augustine Hannon 1975: Hallowell Davis Paul Gyorgy Sterling Brown Hendricks Orville lvin Vogel 1976: Roger C.L. Guillemin Keith Roberts Porter Efraim Racker E. O. Wilson 1979: Robert H. Burris Elizabeth C. Crosby Arthur Kornberg Severo Ochoa Earl Reece Stadtman George Ledyard Stebbins Paul Alfred Weiss
1980s
1981: Philip Handler 1982: Seymour Benzer Glenn W. Burton Mildred Cohn 1983: Howard L. Bachrach Paul Berg Wendell L. Roelofs Berta Scharrer 1986: Stanley Cohen Donald A. Henderson Vernon B. Mountcastle George Emil Palade Joan A. Steitz 1987: Michael E. Debakey Theodor O. Diener Harry Eagle Har Gobind Khorana Rita Levi-Montalcini 1988: Michael S. Brown Stanley Norman Cohen Joseph L. Goldstein Maurice R. Hilleman Eric R. Kandel Rosalyn Sussman Yalow 1989: Katherine Esau Viktor Hamburger Philip Leder Joshua Lederberg Roger W. Sperry Harland G. Wood
1990s
1990: Baruj Benacerraf Herbert W. Boyer Daniel E. Koshland Jr. Edward B. Lewis David G. Nathan E. Donnall Thomas 1991: Mary Ellen Avery G. Evelyn Hutchinson Elvin A. Kabat Salvador Luria Paul A. Marks Folke K Skoog Paul C. Zamecnik 1992: Maxine Singer Howard M. Temin 1993: Daniel Nathans Salome G. Waelsch 1994: Thomas Eisner Elizabeth F. Neufeld 1995: Alexander Rich 1996: Ruth Patrick 1997: James D. Watson Robert A. Weinberg 1998: Bruce Ames Janet Rowley 1999: David Baltimore Jared Diamond Lynn Margulis
2000s
2000: Nancy C. Andreasen Peter H. Raven Carl Woese 2001: Francisco J. Ayala Mario R. Capecchi Ann M. Graybiel Gene E. Likens Victor A. McKusick Harold Varmus 2002: James E. Darnell Evelyn M. Witkin 2003: J. Michael Bishop Solomon H. Snyder Charles Yanofsky 2004: Norman E. Borlaug Phillip A. Sharp Thomas E. Starzl 2005: Anthony Fauci Torsten N. Wiesel 2006: Rita R. Colwell Nina Fedoroff Lubert Stryer 2007: Robert J. Lefkowitz Bert W. O'Malley 2008: Francis S. Collins Elaine Fuchs J. Craig Venter
Chemistry
1980s
1982: F. Albert Cotton Gilbert Stork 1983: Roald Hoffmann George C. Pimentel Richard N. Zare 1986: Harry B. Gray Yuan Tseh Lee Carl S. Marvel Frank H. Westheimer 1987: William S. Johnson Walter H. Stockmayer Max Tishler 1988: William O. Baker Konrad E. Bloch Elias J. Corey 1989: Richard B. Bernstein Melvin Calvin Rudoph A. Marcus Harden M. McConnell
1990s
1990: Elkan Blout Karl Folkers John D. Roberts 1991: Ronald Breslow Gertrude B. Elion Dudley R. Herschbach Glenn T. Seaborg 1992: Howard E. Simmons Jr. 1993: Donald J. Cram Norman Hackerman 1994: George S. Hammond 1995: Thomas Cech Isabella L. Karle 1996: Norman Davidson 1997: Darleane C. Hoffman Harold S. Johnston 1998: John W. Cahn George M. Whitesides 1999: Stuart A. Rice John Ross Susan Solomon
2000s
2000: John D. Baldeschwieler Ralph F. Hirschmann 2001: Ernest R. Davidson Gabor A. Somorjai 2002: John I. Brauman 2004: Stephen J. Lippard 2006: Marvin H. Caruthers Peter B. Dervan 2007: Mostafa A. El-Sayed 2008: Joanna S. Fowler JoAnne Stubbe
Engineering sciences
1960s
1962: Theodore von Karman 1963: Vannevar Bush John Robinson Pierce 1964: Charles S. Draper 1965: Hugh L. Dryden Clarence L. Johnson Warren K. Lewis 1966: Claude E. Shannon 1967: Edwin H. Land Igor I. Sikorsky 1968: J. Presper Eckert Nathan M. Newmark 1969: Jack St. Clair Kilby
1970s
1970: George E. Mueller 1973: Harold E. Edgerton Richard T. Whitcomb 1974: Rudolf Kompfner Ralph Brazelton Peck Abel Wolman 1975: Manson Benedict William Hayward Pickering Frederick E. Terman Wernher von Braun 1976: Morris Cohen Peter C. Goldmark Erwin Wilhelm Mller 1979: Emmett N. Leith Raymond D. Mindlin Robert N. Noyce Earl R. Parker Simon Ramo
1980s
1982: Edward H. Heinemann Donald L. Katz 1983: William R. Hewlett George M. Low John G. Trump 1986: Hans Wolfgang Liepmann T. Y. Lin Bernard M. Oliver 1987: R. Byron Bird H. Bolton Seed Ernst Weber 1988: Daniel C. Drucker Willis M. Hawkins George W. Housner 1989: Harry George Drickamer Herbert E. Grier
1990s
1990: Mildred S. Dresselhaus Nick Holonyak Jr. 1991: George Heilmeier Luna B. Leopold H. Guyford Stever 1992: Calvin F. Quate John Roy Whinnery 1993: Alfred Y. Cho 1994: Ray W. Clough 1995: Hermann A. Haus 1996: James L. Flanagan C. Kumar N. Patel 1998: Eli Ruckenstein 1999: Kenneth N. Stevens
2000s
2000: Yuan-Cheng B. Fung 2001: Andreas Acrivos 2002: Leo Beranek 2003: John M. Prausnitz 2004: Edwin N. Lightfoot 2005: Jan D. Achenbach Tobin J. Marks 2006: Robert S. Langer 2007: David J. Wineland 2008: Rudolf E. Kalman
Mathematical statistical and computer sciences
1960s
1963: Norbert Wiener 1964: Solomon Lefschetz H. Marston Morse 1965: Oscar Zariski 1966: John Milnor 1967: Paul Cohen 1968: Jerzy Neyman 1969: William Feller
1970s
1970: Richard Brauer 1973: John Tukey 1974: Kurt Gdel 1975: John W. Backus Shiing-Shen Chern George Dantzig 1976: Kurt Otto Friedrichs Hassler Whitney 1979: Joseph Leo Doob Donald E. Knuth
1980s
1982: Marshall Harvey Stone 1983: Herman Goldstine Isadore Singer 1986: Peter Lax Antoni Zygmund 1987: Raoul Bott Michael Freedman 1988: Ralph E. Gomory Joseph B. Keller 1989: Samuel Karlin Saunders MacLane Donald C. Spencer
1990s
1990: George F. Carrier Stephen Cole Kleene John McCarthy 1991: Alberto Caldern 1992: Allen Newell 1993: Martin David Kruskal 1994: John Cocke 1995: Louis Nirenberg 1996: Richard Karp Stephen Smale 1997: Shing-Tung Yau 1998: Cathleen Synge Morawetz 1999: Felix Browder Ronald R. Coifman
2000s
2000: John Griggs Thompson Karen K. Uhlenbeck 2001: Calyampudi R. Rao Elias M. Stein 2002: James G. Glimm 2003: Carl R. de Boor 2004: Dennis P. Sullivan 2005: Bradley Efron 2006: Hyman Bass 2007: Leonard Kleinrock Andrew J. Viterbi
Physical sciences
1960s
1963: Luis W. Alvarez 1964: Julian Schwinger Harold Clayton Urey Robert Burns Woodward 1965: John Bardeen Peter Debye Leon M. Lederman William Rubey 1966: Jacob Bjerknes Subrahmanyan Chandrasekhar Henry Eyring John H. Van Vleck Vladimir K. Zworykin 1967: Jesse Beams Francis Birch Gregory Breit Louis Hammett George Kistiakowsky 1968: Paul Bartlett Herbert Friedman Lars Onsager Eugene Wigner 1969: Herbert C. Brown Wolfgang Panofsky
1970s
1970: Robert H. Dicke Allan R. Sandage John C. Slater John A. Wheeler Saul Winstein 1973: Carl Djerassi Maurice Ewing Arie Jan Haagen-Smit Vladimir Haensel Frederick Seitz Robert Rathbun Wilson 1974: Nicolaas Bloembergen Paul Flory William Alfred Fowler Linus Carl Pauling Kenneth Sanborn Pitzer 1975: Hans A. Bethe Joseph Hirschfelder Lewis Sarett E. Bright Wilson Chien-Shiung Wu 1976: Samuel Goudsmit Herbert S. Gutowsky Frederick Rossini Verner Suomi Henry Taube George Uhlenbeck 1979: Richard P. Feynman Herman Mark Edward M. Purcell John Sinfelt Lyman Spitzer Victor F. Weisskopf
1980s
1982: Philip W. Anderson Yoichiro Nambu Edward Teller Charles H. Townes 1983: E. Margaret Burbidge Maurice Goldhaber Helmut Landsberg Walter Munk Frederick Reines Bruno B. Rossi J. Robert Schrieffer 1986: Solomon Buchsbaum Horace Crane Herman Feshbach Robert Hofstadter Chen Ning Yang 1987: Philip Abelson Walter Elsasser Paul C. Lauterbur George Pake James A. Van Allen 1988: D. Allan Bromley Paul Ching-Wu Chu Walter Kohn Norman F. Ramsey Jack Steinberger 1989: Arnold O. Beckman Eugene Parker Robert Sharp Henry Stommel
1990s
1990: Allan M. Cormack Edwin M. McMillan Robert Pound Roger Revelle 1991: Arthur L. Schawlow Ed Stone Steven Weinberg 1992: Eugene M. Shoemaker 1993: Val Fitch Vera Rubin 1994: Albert Overhauser Frank Press 1995: Hans Dehmelt Peter Goldreich 1996: Wallace S. Broecker 1997: Marshall Rosenbluth Martin Schwarzschild George Wetherill 1998: Don L. Anderson John N. Bahcall 1999: James Cronin Leo Kadanoff
2000s
2000: Willis E. Lamb Jeremiah P. Ostriker Gilbert F. White 2001: Marvin L. Cohen Raymond Davis Jr. Charles Keeling 2002: Richard Garwin W. Jason Morgan Edward Witten 2003: G. Brent Dalrymple Riccardo Giacconi 2004: Robert N. Clayton 2005: Ralph A. Alpher Lonnie Thompson 2006: Daniel Kleppner 2007: Fay Ajzenberg-Selove Charles P. Slichter 2009: Berni Alder James E. Gunn
Persondata
Name
Samuelson Paul
Alternative names
Short description
Economist
Date of birth
May 15 1915 (age 94)
Place of birth
Gary Indiana
Date of death
December 13 2009 (age 94)
Place of death
Belmont Massachusetts




















