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Let those who will write the nation's laws, if I can write its textbooks.
Paul Samuelson
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Paul Samuelson
Age: 94 †
Born: 1915
Born: May 15
Died: 2009
Died: December 13
Economist
University Teacher
Gary
Indiana
Paul Anthony Samuelson
Paul A. Samuelson
Textbooks
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More quotes by Paul Samuelson
You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.
Paul Samuelson
In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: Past performance is no guarantee of future results.
Paul Samuelson
Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.
Paul Samuelson
Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.
Paul Samuelson
It isn't that greed's increased. What's increased is the realization that you've got a free field to reach out for what you'd like to do.
Paul Samuelson
An intriguing paradox of the 1990s is that it isn't called a decade of greed.
Paul Samuelson
Funeral by funeral, theory advances.
Paul Samuelson
You could be disqualified for a job [at Harvard] if you were either smart or Jewish or Keynesian. So what chance did this smart, Jewish, Keynesian have?
Paul Samuelson
I don't care very much for the People Magazine approach to applied economics.
Paul Samuelson
Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
Paul Samuelson
Our ideal society finds it essential to put a rent on land as a way of maximizing the total consumption available to the society. ...Pure land rent is in the nature of a 'surplus' which can be taxed heavily without distorting production incentives or efficiency. A land value tax can be called 'the useful tax on measured land surplus'.
Paul Samuelson
By keeping labor supply down, immigration policy tends to keep wages high. Let us underline this basic principle: Limitation of the supply of any grade of labor relative to all other productive factors can be expected to raise its wage rate and increase in supply will, other things being equal, tend to depress wage rates.
Paul Samuelson
When the economy was going up, [Milton Friedman and I] both gave the same advice, and when the economy was going down, we gave the same advice. But in between he didn't change his advice at all.
Paul Samuelson
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.
Paul Samuelson
We're a me-me-me generation. We're borrowing the savings of every nation in the world. We're ... piling up a big tab. Now, I may think we're too big to have a run on us. You may think that. But it's possible that God does not.
Paul Samuelson
For better or worse, US Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian. You know what a cafeteria catholic is?
Paul Samuelson
Every good cause is worth some inefficiency.
Paul Samuelson
Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.
Paul Samuelson
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).
Paul Samuelson
If we made an income pyramid out of a child's blocks, with each layer portraying $1,000 of income, the peak would be far higher than the Eiffel Tower, but almost all of us would be within a yard of the ground.
Paul Samuelson