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I don't care who writes a nation's laws - or crafts its advanced treaties - if I can write its economics 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
Nations
Treaties
Write
Advanced
Care
Writes
Writing
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Economics
Laws
Nation
Law
Textbooks

More quotes by Paul Samuelson

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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
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I'm not sure most of the people that get caught up in the middle of a bubble can be described as irrational. It seems pretty rational to buy a house and flip it in the next few weeks at a profit when that's been happening for along time.
Paul Samuelson
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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
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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
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Mea culpa, mea culpa. MIT and Wharton and University of Chicago created the financial engineering instruments, which, like Samson and Delilah, blinded every CEO. They didn't realize the kind of leverage they were doing and they didn't understand when they were really creating a real profit or a fictitious one.
Paul Samuelson
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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
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Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
Paul Samuelson
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Second, they [those who disagree with market efficiency] always claim they know a man, a bank, or a fund that does do better. Alas, anecdotes are not science. And once Wharton School dissertations seek to quantify the performers, these have a tendency to evaporate into the air - or, at least, into statistically insignificant t-statistics.
Paul Samuelson
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I don't care very much for the People Magazine approach to applied economics.
Paul Samuelson
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Funeral by funeral, theory advances.
Paul Samuelson
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Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.
Paul Samuelson
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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
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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
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Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.
Paul Samuelson
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Two-thirds of a century after [The Road to Serfdom] got written, hindsight confirms how inaccurate its innuendo about the future turned out to be.
Paul Samuelson
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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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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
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Man does not live by GNP alone.
Paul Samuelson
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Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.
Paul Samuelson
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Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.
Paul Samuelson