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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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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
Book
Chicago
University
Couldn
Streets
Taught
Knew
Assigned
Books
Reconcile
True
Lectures

More quotes by Paul Samuelson

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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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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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Every good cause is worth some inefficiency.
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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?
Paul Samuelson
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Funeral by funeral, theory advances.
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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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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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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Man does not live by GNP alone.
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 are like highly trained athletes, who never run a race.
Paul Samuelson
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The stock market has predicted nine of the last five recessions.
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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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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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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.
Paul Samuelson
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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
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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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Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.
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