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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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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
World
Nations
Piling
Bigs
Borrowing
Running
Savings
Doe
Saving
May
Generation
Every
Generations
Think
Nation
Thinking
Possible

More quotes by 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.
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The stock market has predicted nine of the last five recessions.
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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.
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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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Let those who will write the nation's laws, if I can write its textbooks.
Paul Samuelson
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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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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.
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Funeral by funeral, theory advances.
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Every good cause is worth some inefficiency.
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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
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I couldn't reconcile what I was being taught at the university of Chicago, the lectures and the books I was being assigned, with what I knew to be true out in the streets.
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Good questions outrank easy answers.
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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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Marshall's crime is to pretend to handle imperfect competition with tools only applicable to perfect competition.
Paul Samuelson
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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).
Paul Samuelson
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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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Perhaps there really are managers who can outperform the market consistently - logic would suggest that they exist. But they are remarkably well-hidden.
Paul Samuelson
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Man does not live by GNP alone.
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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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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