Paul Samuelson
The first American Nobel laureate in economics, he helped create the neoclassical synthesis, integrating Keynesian and neoclassical ideas.
Quotes by Paul Samuelson
The balance of payments is a balance of headaches.
In economics, as in life, timing is everything.
Comparative advantage is the secret to international trade.
Econometrics is the quantification of economic theory.
The Phillips curve teaches us that there are no free lunches in policy.
Life's greatest lesson is that everything is connected, much like the economy.
A good economist knows when to use words and when to use numbers.
Monetary policy is like steering a ship in a storm.
The joy of teaching economics is seeing students connect theory to reality.
Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.
In my later years, I reflect that economics has been my life's work, and it has been rewarding.
The IS-LM model revolutionized macroeconomics.
Politicians should listen to economists more often.
Humor in economics lightens the load of complex ideas.
The efficient market hypothesis has its limits, as life does.
Friend, in my letter, I advise you to embrace uncertainty in economic forecasting.
Game theory shows that cooperation can be rational.
My last words? Keep questioning the models.
Welfare economics is about making the pie fairer.
Economists are like doctors: they diagnose but rarely prescribe perfectly.