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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?

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
Better
Keynesianism
Keynesian
Cafeteria
Ahead
Catholic
Worse
Started

More quotes by 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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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.
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I don't care very much for the People Magazine approach to applied economics.
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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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Every good cause is worth some inefficiency.
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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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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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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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.
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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Let those who will write the nation's laws, if I can write its textbooks.
Paul Samuelson
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The stock market has predicted nine of the last five recessions.
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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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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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
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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.
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.
Paul Samuelson
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Funeral by funeral, theory advances.
Paul Samuelson
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Man does not live by GNP alone.
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