Quote

We are like highly trained athletes, who never run a race.

Paul Samuelson

Change background

T
T
T

Change font

TAGS & TOPICS

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
Like
Athletes
Trained
Highly
Athlete
Race
Running
Past
Never

More quotes by Paul Samuelson

Image
Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.
Paul Samuelson
Image
The stock market has predicted nine of the last five recessions.
Paul Samuelson
Image
I don't care very much for the People Magazine approach to applied economics.
Paul Samuelson
Image
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
Image
The consumer, so it is said, is the king each is a voter who uses his money as votes to get the things done that he wants done.
Paul Samuelson
Image
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
Image
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
Image
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
Image
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
Image
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
Image
Let those who will write the nation's laws, if I can write its textbooks.
Paul Samuelson
Image
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
Image
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
Image
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
Image
Funeral by funeral, theory advances.
Paul Samuelson
Image
Good questions outrank easy answers.
Paul Samuelson
Image
You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.
Paul Samuelson
Image
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
Image
Investing is like waiting for paint dry and grass grow so. If you like fun, let handle 800 USD and headed to Las Vegas
Paul Samuelson
Image
Every good cause is worth some inefficiency.
Paul Samuelson