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John Bates Clark Medal (1947) Nobel Memorial Prize in Economic Sciences (1970) National Medal of Science (1996)
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Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".[6]
Samuelson was one of the most influential economists of the latter half of the 20th century.[7][8] In 1996, when he was awarded the National Medal of Science.[6] Samuelson considered mathematics to be the "natural language" for economists and contributed significantly to the mathematical foundations of economics with his book Foundations of Economic Analysis.[9] He was author of the best-selling economics textbook of all time: Economics: An Introductory Analysis, first published in 1948.[10] It was the second American textbook that attempted to explain the principles of Keynesian economics.
Samuelson served as an advisor to President John F. Kennedy and President 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, as a self described "Cafeteria Keynesian",[7] claimed taking the Keynesian perspective but only accepting what he felt was good in it.[7] By contrast, Friedman represented the monetarist perspective.[11] Together with Henry Wallich, their 1967 columns earned the magazine a Gerald Loeb Special Award in 1968.[12]
^Business Cycles and Depressions: An Encyclopedia, p. 361, at Google Books
^De Vroey, Michel; Malgrange, Pierre (2012). "From The Keynesian Revolution to the Klein–Goldberger model: Klein and the Dynamization of Keynesian Theory". History of Economic Ideas. 20 (2): 113–36.
^Cite error: The named reference Merton 1970 was invoked but never defined (see the help page).
^"Marion Crawford Samuelson". The New York Times. February 15, 1978. Retrieved October 1, 2023.
^"Risha Clay Samuelson: Obituary". The Boston Globe. June 4, 2019.
^ abFrost, Greg (December 13, 2009). "Nobel-winning economist Paul A. Samuelson dies at age 94". MIT News. "In a career that spanned seven decades, he transformed his field, influenced millions of students and turned MIT into an economics powerhouse"
^ abc"Paul Samuelson: The last of the great general economists died on December 13th, aged 94", The Economist, December 17, 2009
^Solow, Robert (2010). "On Paul Samuelson". Challenge. 53 (2): 113–116. doi:10.2753/0577-5132530207. S2CID 155020549.
^Skousken, Mark (Spring 1997). "The Perseverance of Paul Samuelson's Economics". Journal of Economic Perspectives. 11 (2): 137–152. doi:10.1257/jep.11.2.137.
^Szenberg, Michael; Gottesman, Aron A.; Ramrattan, lall (2005). Paul Samuelson: On Being an Economist. New York: Jorge Pinto Books. p. 18. ISBN 978-0-9742615-3-9.
^Cite error: The named reference Devaney 1968 May 22 was invoked but never defined (see the help page).
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic...
formulated most notably by John Hicks (1937), Franco Modigliani (1944), and PaulSamuelson (1948), who dominated economics in the post-war period and formed the...
economics text which he says was strongly inspired by the first edition of PaulSamuelson's classic textbook. Krugman also writes on economic topics for the general...
According to Wicksell this passage moved to Leçon 10 in the 4th ed. PaulSamuelson backed him up, saying that the locus of Paretian optima can be obtained...
Berkeley PaulSamuelson (1915–2009), American economist Peter Samuelson (born 1951), American filmmaker and philanthropist Ralph Samuelson (1903–1977)...
outlook. It can be illustrated using the "Keynesian cross" devised by PaulSamuelson. The horizontal axis denotes total income and the purple curve shows...
economist PaulSamuelson where he formalised the concept now known as public goods, i.e. goods that are both non-rivalrous and non-excludable. Samuelson additionally...
The Samuelson condition, due to PaulSamuelson, in the theory of public economics, is a condition for optimal provision of public goods. For an economy...
for governments to intervene. Twentieth century economists such as PaulSamuelson popularized the use of the term to refer more generally to unintended...
New Keynesian economist and recipient of the Nobel Prize in Economics, Paul Krugman, asserted MMT goes too far in its support for government budget deficits...
accepted the synthesis view of the macroeconomy.: 526 Economists like PaulSamuelson, Franco Modigliani, James Tobin, and Robert Solow developed formal Keynesian...
Institute of Technology in the United States, where he got to know PaulSamuelson, Robert Solow, Franco Modigliani, and Norbert Wiener. He was also a...
Elizabeth Peer Jack Posobiec Lynn Povich Dev Pragad Anna Quindlen Karl Rove PaulSamuelson Dick Schaap Allan Sloan Andrew Sullivan Ralph de Toledano Michael Tomasky...
1930s and 1940s, economists (notably John Hicks, Franco Modigliani and PaulSamuelson) attempted to interpret and formalise Keynes's writings in terms of...
terms of optimization and equilibrium, following the approaches of PaulSamuelson and Hal Varian. On the other hand, heterodox economics may be labeled...
inflation, this was a trivial deduction from his statistical findings. PaulSamuelson and Robert Solow made the connection explicit and subsequently Milton...
In the proceedings of a conference on von Neumann's growth model, PaulSamuelson said that many mathematicians had developed methods useful to economists...
S&P 500, which was established in 1957. Bogle was also inspired by PaulSamuelson, an economist who later won the Nobel Memorial Prize in Economic Sciences...