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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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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
Thirds
Turned
Road
Century
Serfdom
Written
Innuendo
Future
Inaccurate
Two
Confirms
Hindsight

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What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting a job?
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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.
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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.
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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?
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Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.
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Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
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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.
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You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.
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Good questions outrank easy answers.
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Investing is like waiting for paint dry and grass grow so. If you like fun, let handle 800 USD and headed to Las Vegas
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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.
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Man does not live by GNP alone.
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Every good cause is worth some inefficiency.
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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.
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In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching.
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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).
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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.
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I don't care very much for the People Magazine approach to applied economics.
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There is something in people you might even call it a little bit of a gambling instinct… I tell people investing should be dull. It shouldn't be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
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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.
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