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

More quotes by 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.
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The failure of market catallactics in no way denies the following truth: given sufficient knowledge the optimal decisions can always be found by scanning over all the attainable states of the world and selecting the one which according to the postulated ethical welfare function is best. The solution 'exists' the problem is how to 'find' it.
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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.
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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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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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Funeral by funeral, theory advances.
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Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
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Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.
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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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Let those who will write the nation's laws, if I can write its textbooks.
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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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The stock market has predicted nine of the last five recessions.
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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You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.
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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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.
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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Every good cause is worth some inefficiency.
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
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We are like highly trained athletes, who never run a race.
Paul Samuelson