Paul Samuelson

Economics American 1915 – 2009 50 quotes

The first American Nobel laureate in economics, he helped create the neoclassical synthesis, integrating Keynesian and neoclassical ideas.

Quotes by Paul Samuelson

I don't care who writes a nation's laws—or crafts its advanced economic legislation—if I can write its textbooks.

Interview 1970

Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people.

Economics (textbook) 1948

The consumer is the one who ultimately pays the bill for everything.

Foundations of Economic Analysis 1955

Let the future do the worrying.

Speech 1960

Science is a social enterprise. It is a community effort.

Nobel Lecture 1971

An economist is a man who states the obvious in terms of the incomprehensible.

Interview 1950

If all the economists were laid end to end, they would not reach a conclusion.

Letter 1945

The stock market is a voting machine in the short run and a weighing machine in the long run.

Article 1958

Macroeconomics is the study of how the whole pie is divided, while microeconomics is about how to make the pie bigger.

Economics (textbook) 1970

In the long run, we are all dead—wait, that's Keynes, but I agree.

Speech 1980

The role of the economist is to show why what seems obvious is not.

Lecture 1965

Life is like a market: unpredictable, but with patterns if you look closely.

Personal reflection 1990

Inflation is the one form of taxation that can be imposed without legislation.

Book 1951

The best way to predict the future is to create it—through sound economic policy.

Interview 1975

Mathematics brings rigor to economics.

Foundations of Economic Analysis 1947

Economists do it with models.

Humor in lecture 1985

The multiplier effect is the engine of economic growth.

Thesis 1939

Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.

Speech 1960

Public goods are like the air we breathe—essential but often taken for granted.

Article 1954

I have never believed that economics should be a dismal science.

Interview 1970