Paul Samuelson

File:Paul Samuelson.jpg

Samuelson was born in Gary, Indiana, on May 15, 1915, to Frank Samuelson, a pharmacist, and Ella {{née}}} Lipton. His family, he later said, was "made up of upwardly mobile Jewish immigrants from Poland who had prospered considerably in World War I, because Gary was a brand new steel-town when my family went there". In 1923, Samuelson moved to Chicago where he graduated from Hyde Park High School (now Hyde Park Career Academy).

Samuelson attended the University of Chicago as an undergraduate, earning a Bachelor of Arts degree in 1935. He said he was born as an economist at 8:00 am on January 2, 1932, in the University of Chicago classroom. The lecture mentioned as the cause was on the British economist Thomas Malthus, who most famously studied population growth and its effects. Samuelson felt there was a dissonance between neoclassical economics and the way the system seemed to behave; he said Henry Simons and Frank Knight were a big influence on him. He next completed his Master of Arts degree in 1936, and his Doctor of Philosophy in 1941 at Harvard University. He won the David A. Wells prize in 1941 for writing the best doctoral dissertation at Harvard University in economics, for a thesis titled "Foundations of Analytical Economics", which later turned into Foundations of Economic Analysis. As a graduate student at Harvard, Samuelson studied economics under Joseph Schumpeter, Wassily Leontief, Gottfried Haberler, and the "American Keynes" Alvin Hansen.

Samuelson moved to MIT as an assistant professor in 1940 and remained there until his death.{{Cite journal | doi = 10.1215/00182702-2716118| title = Paul A. Samuelson's Move to MIT| journal = History of Political Economy| volume = 46| page = 60| year = 2014| last1 = Backhouse | first1 = R. E.}} Samuelson's biographer argues that a central reason for Samuelson's move from Harvard to MIT was the anti-Semitism that was famously widespread at Harvard at the time. In a 1989 letter to his friend Henry Rosovsky, Samuelson blamed anti-Semitism in Harvard economics above all on chair Harold Burbank, as well as on Edward Chamberlin, John H. Williams, John D. Black, and Leonard Crum.{{cite book |last1=Backhouse |first1=Roger |title=Founder of Modern Economics: Paul Samuelson, vol. 1: Becoming Samuelson, 1915–1948 |date=2017 |publisher=Oxford University Press |location=Oxford |isbn=9780190664091 |pages=300–307}}

Samuelson's family included many well-known economists, including brother Robert Summers, sister-in-law Anita Summers, brother-in-law Kenneth Arrow and nephew Larry Summers.

During his seven decades as an economist, Samuelson's professional positions included:

• Assistant professor of economics at MIT, 1940; associate professor, 1944.
• Member of the Radiation Laboratory 1944–45.
• Professor of international economic relations (part-time) at the Fletcher School of Law and Diplomacy in 1945.
• Guggenheim Fellowship from 1948 to 1949
• Professor of economics at MIT beginning in 1947 and Institute Professor beginning in 1962.
• Vernon F. Taylor Visiting Distinguished Professor at Trinity University (Texas) in spring 1989.

Samuelson died after a brief illness on December 13, 2009, at the age of 94.{{cite news | title = Nobel economics laureate Samuelson died at 94 | url = https://www.reuters.com/article/idUSTRE5BC15620091213 | publisher = Reuters | date=December 14, 2006}}

His death was announced by the Massachusetts Institute of Technology. James M. Poterba, an economics professor at MIT and the president of the National Bureau of Economic Research, commented that Samuelson "leaves an immense legacy, as a researcher and a teacher, as one of the giants on whose shoulders every contemporary economist stands". Susan Hockfield, the president of MIT, said that Samuelson "transformed everything he touched: the theoretical foundations of his field, the way economics was taught around the world, the ethos and stature of his department, the investment practices of MIT, and the lives of his colleagues and students".[https://www.telegraph.co.uk/news/worldnews/northamerica/usa/6806318/Economics-revolutionary-Paul-Samuelson-dies-aged-94.html "Economics revolutionary Paul Samuelson dies aged 94"], The Daily Telegraph, December 14, 2009 His second wife died in 2019.

As professor of economics at the Massachusetts Institute of Technology, Samuelson worked in many fields, including:Fischer, Stanley. "Samuelson, Paul Anthony (1915–2009)". The New Palgrave Dictionary of Economics. Third Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2018.

• Consumer theory, where he pioneered the revealed preference approach, which is a method by which one can discern a consumer's utility function, by observing their behavior. Rather than postulate a utility function or a preference ordering, Samuelson imposed conditions directly on the choices made by individuals – their preferences as revealed by their choices.{{cite journal |last1=Samuelson |first1=Paul A. |title=Consumption Theory in Terms of Revealed Preference |journal=Economica |date=1948 |volume=15 |issue=60 |pages=243–253 |doi=10.2307/2549561 |jstor=2549561 |url=https://www.jstor.org/stable/2549561 |issn=0013-0427|url-access=subscription }}
• Welfare economics and public finance theory, in which he popularised the Lindahl–Bowen–Samuelson conditions (criteria for deciding whether an action will improve welfare) and demonstrated in 1950 the insufficiency of a national-income index to reveal which of two social options was uniformly outside the other's (feasible) possibility function, and he is particularly known for his work on determining the optimal allocation of resources in the presence of both public goods and private goods.{{cite journal |last1=Samuelson |first1=Paul A. |title=Evaluation of Real National Income |journal=Oxford Economic Papers |date=1950 |volume=2 |issue=1 |pages=1–29 |doi=10.1093/oxfordjournals.oep.a041383 |url=https://academic.oup.com/oep/article-abstract/2/1/1/2360396 |issn=0030-7653|url-access=subscription }}{{cite journal |last1=Samuelson |first1=Paul A. |title=The Pure Theory of Public Expenditure |journal=The Review of Economics and Statistics |date=1954 |volume=36 |issue=4 |pages=387–389 |doi=10.2307/1925895 |jstor=1925895 |url=https://www.jstor.org/stable/1925895 |issn=0034-6535|url-access=subscription }}
• Capital theory, where he is known for 1958 consumption loans model and a variety of turnpike theorems and involved in Cambridge capital controversy.{{cite journal |last1=Samuelson |first1=Paul A. |title=Parable and Realism in Capital Theory: The Surrogate Production Function |journal=The Review of Economic Studies |date=June 1962 |volume=29 |issue=3 |pages=193–206 |doi=10.2307/2295954 |jstor=2295954 |url=https://doi.org/10.2307/2295954 |issn=0034-6527|url-access=subscription }}{{cite journal |last1=Samuelson |first1=P. A. |title=The periodic turnpike theorem |journal=Nonlinear Analysis: Theory, Methods & Applications |date=1 January 1976 |volume=1 |issue=1 |pages=3–13 |doi=10.1016/0362-546X(76)90004-3 |url=https://doi.org/10.1016/0362-546X(76)90004-3 |issn=0362-546X|url-access=subscription }}
• Finance theory, in which he is known for the random walk hypothesis and efficient-market hypothesis.{{cite journal |last1=Samuelson |first1=Paul A. |title=Proof That Properly Anticipated Prices Fluctuate Randomly |journal=Industrial Management Review |date=Spring 1965 |volume=6 |issue=2 |pages=41–49 |language=en}}{{cite journal |last1=Samuelson |first1=P. A. |title=The Fundamental Approximation Theorem of Portfolio Analysis in terms of Means, Variances and Higher Moments |journal=The Review of Economic Studies |date=1 October 1970 |volume=37 |issue=4 |pages=537–542 |doi=10.2307/2296483 |jstor=2296483 |url=https://doi.org/10.2307/2296483 |language=en |issn=0034-6527|url-access=subscription }}{{cite journal |last1=Samuelson |first1=Paul A. |title=Challenge to Judgment |journal=The Journal of Portfolio Management |date=31 October 1974 |volume=1 |issue=1 |pages=17–19 |doi=10.3905/jpm.1974.408496}}
• International economics, where he influenced the development of two important international trade models: the Balassa–Samuelson effect, and the Heckscher–Ohlin model (with the Stolper–Samuelson theorem).{{cite journal |last1=Stolper |first1=W. F. |last2=Samuelson |first2=P. A. |title=Protection and Real Wages |journal=The Review of Economic Studies |date=1 November 1941 |volume=9 |issue=1 |pages=58–73 |doi=10.2307/2967638 |jstor=2967638 |url=https://doi.org/10.2307/2967638 |issn=0034-6527|url-access=subscription }}{{cite journal |last=Samuelson |first=P. A. |year=1964 |title=Theoretical Notes on Trade Problems |journal=Review of Economics and Statistics |volume=46 |issue=2 |pages=145–154 |doi=10.2307/1928178 |jstor=1928178}}
• Macroeconomics, where he popularized the overlapping generations model as a way to analyze economic agents' behavior across multiple periods of time,{{cite journal |last1=Samuelson |first1=Paul A. |title=An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money |journal=Journal of Political Economy |date=December 1958 |volume=66 |issue=6 |pages=467–482 |doi=10.1086/258100 |url=https://www.journals.uchicago.edu/doi/abs/10.1086/258100 |language=en |issn=0022-3808|url-access=subscription }} developed multiplier-accelerator model,{{cite journal |last1=Samuelson |first1=Paul A. |title=Interactions between the Multiplier Analysis and the Principle of Acceleration |journal=The Review of Economics and Statistics |date=May 1939 |volume=21 |issue=2 |pages=75–78 |doi=10.2307/1927758|jstor=1927758 }} analyzed Phillips curve,{{cite journal |last1=Samuelson |first1=Paul A. |last2=Solow |first2=Robert M. |title=Analytical Aspects of Anti-Inflation Policy |journal=The American Economic Review |date=1960 |volume=50 |issue=2 |pages=177–194 |jstor=1815021 |url=https://www.jstor.org/stable/1815021 |issn=0002-8282}} and contributed to formation of the neoclassical synthesis.Tobin, James. "Macroeconomics and fiscal policy". Paul Samuelson and Modern Economic Theory. Eds. E. Cary Brown and Robert M. Solow. McGraw-Hill, 1983.

Samuelson is considered one of the founders of neo-Keynesian economics and a seminal figure in the development of neoclassical economics. In awarding him the Nobel Memorial Prize in Economic Sciences, the committee stated:

{{blockquote|More than any other contemporary economist, Samuelson has helped to raise the general analytical and methodological level in economic science. He has simply rewritten considerable parts of economic theory. He has also shown the fundamental unity of both the problems and analytical techniques in economics, partly by a systematic application of the methodology of maximization for a broad set of problems. This means that Samuelson's contributions range over a large number of different fields.}}

He was also essential in creating the neoclassical synthesis, which ostensibly incorporated Keynesian and neoclassical principles and still dominates current mainstream economics. In 2003, Samuelson was one of the ten Nobel Prize–winning economists signing the Economists' statement opposing the Bush tax cuts.{{cite web|url=http://www.epi.org/publications/entry/econ_stmt_2003/|title=Economists' statement opposing the Bush tax cuts|date=April 3, 2003|access-date=October 31, 2007}}

Samuelson believed unregulated markets have drawbacks, he stated, "free markets do not stabilise themselves. Zero regulating is vastly suboptimal to rational regulating. Libertarianism is its own worst enemy!" Samuelson strongly criticised Friedman and Friedrich Hayek, arguing their opposition to state intervention "tells us something about them rather than something about Genghis Khan or Franklin Roosevelt. It is paranoid to warn against inevitable slippery slopes ... once individual commercial freedoms are in any way infringed upon."

Stanislaw Ulam once challenged Samuelson to name one theory in all of the social sciences that is both true and nontrivial. Several years later, Samuelson responded with David Ricardo's theory of comparative advantage: "That it is logically true need not be argued before a mathematician; that it is not trivial is attested by the thousands of important and intelligent men who have never been able to grasp the doctrine for themselves or to believe it after it was explained to them."{{cite book |first=Paul |last=Samuelson |year=1969 |chapter=The Way of an Economist |editor-first=P. A. |editor-last=Samuelson |title=International Economic Relations: Proceedings of the Third Congress of the International Economic Association |publisher=Macmillan |location=London |pages=1–11 }}{{Cite web |last=Worstall |first=Tim |author-link=Tim Worstall |date=2009-12-16 |title=Second near random Paul Samuelson anecdote of the day - Tim Worstall |url=https://www.timworstall.com/2009/12/second-near-random-paul-samuelson-anecdote-of-the-day/ |access-date=2025-06-12 |language=en-US}}

For many years, Samuelson wrote a column for Newsweek. One article included Samuelson's most quoted remark and a favorite economics joke:

To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.{{cite news |last=Samuelson |first=Paul |title=Science and Stocks |work=Newsweek |date=September 19, 1966 |page=92 }}

In the early editions of his famous, bestselling economics textbook Paul Samuelson joked that GDP falls when a man "marries his maid".

File:The competitive price system adapted from Samuelson, 1961.jpg

{{Main|Foundations of Economic Analysis}}

Paul Samuelson's book Foundations of Economic Analysis (1946) is considered his magnum opus. It is derived from his doctoral dissertation, and was inspired by the classical thermodynamic methods.Liossatos, Panagis, S. (2004). [https://core.ac.uk/download/pdf/6332615.pdf "Statistical Entropy in General Equilibrium Theory"], (p. 3). Department of Economics, Florida International University. The book proposes to:

• Examine underlying analogies between central features in theoretical and applied economics and
• Study how operationally meaningful theorems can be derived with a small number of analogous methods (p. 3),

in order to derive "a general theory of economic theories" (Samuelson, 1983, p. xxvi). The book showed how these goals could be parsimoniously and fruitfully achieved, using the language of the mathematics applied to diverse subfields of economics. The book proposes two general hypotheses as sufficient for its purposes:

• Maximizing behavior of agents (including consumers as to utility and business firms as to profit) and
• Economic systems (including a market and an economy) in stable equilibrium.

The first tenet suggests that all actors, whether firms or consumers, are striving to maximize something. They could be attempting to maximize profits, utility, or wealth, but it did not matter because their efforts to improve their well-being would provide a basic model for all actors in an economic system.{{Cite journal|last=Solow|first=Robert|date=January 15, 2010|title=Paul A. Samuelson (1915–2009)|journal=Science|volume=327|issue=5963|page=282|doi=10.1126/science.1186205 |pmid=20075240|bibcode=2010Sci...327..282S|s2cid=206525085|doi-access=free}} His second tenet focuses on providing insight on the workings of equilibrium in an economy. Generally in a market, supply would equal demand. However, he noted that this isn't always the case and that the important thing to look at was a system's natural resting point. Foundations presents the question of how an equilibrium would react when it is moved from its optimal point. Samuelson was also influential in providing explanations on how the changes in certain factors can affect an economic system. For example, he could explain the economic effect of changes in taxes or new technologies.

In the course of analysis, comparative statics, (the analysis of changes in equilibrium of the system that result from a parameter change of the system) is formalized and clearly stated.

The chapter on welfare economics "attempt(s) to give a brief but fairly complete survey of the whole field of welfare economics" (Samuelson, 1947, p. 252). It also exposits on and develops what became commonly called the Bergson–Samuelson social welfare function. It shows how to represent (in the maximization calculus) all real-valued economic measures of any belief system that is required to rank consistently different feasible social configurations in an ethical sense as "better than", "worse than", or "indifferent to" each other (p. 221).

{{Main|Economics: An Introductory Analysis}}

Samuelson is also author (and from 1985 co-author) of an influential principles textbook, Economics, first published in 1948 (19th ed. as of 2010; multiple reprints). The book sold more than 300,000 copies of each edition from 1961 through 1976 and was translated into forty-one languages. As of 2018, it had sold over four million copies. William Nordhaus joined as co-author on the 12th edition (1985). Sometime before 1988, it had become the best-selling economics textbook of all time.

Samuelson was once quoted as saying, "Let those who will write the nation's laws if I can write its textbooks."{{Cite web|url=http://www.econlib.org/library/Enc/bios/Samuelson.html|title=Paul Anthony Samuelson: The Concise Encyclopedia of Economics {{!}} Library of Economics and Liberty|website=www.econlib.org|access-date=April 26, 2016}} Written in the shadow of the Great Depression and the Second World War, it helped to popularize the insights of John Maynard Keynes. A main focus was how to avoid, or at least mitigate, the recurring slumps in economic activity.

Samuelson wrote: "It is not too much to say that the widespread creation of dictatorships and the resulting World War II stemmed in no small measure from the world's failure to meet this basic economic problem [the Great Depression] adequately."See {{cite news |author-link=N. Gregory Mankiw |last=Mankiw |first=Gregory |title=Is government spending too easy an answer? |newspaper=The New York Times |date=January 10, 2009 |url=https://www.nytimes.com/2009/01/11/business/economy/11view.html }} This reflected the concern of Keynes himself with the economic causes of war and the importance of economic policy in promoting peace.See {{cite book |author-link=Donald Markwell |first=Donald |last=Markwell |title=John Maynard Keynes and International Relations: Economic Paths to War and Peace |location=New York |publisher=Oxford University Press |year=2006 |isbn=978-0-19-829236-4 }}{{cite book|last=Samuelson|first=Paul|title=Economics |url=https://archive.org/details/economicsintrodu00paul|url-access=registration|edition=13th|year=1989|publisher=McGraw Hill|page=[https://archive.org/details/economicsintrodu00paul/page/837 837]|isbn=9780070547865}}{{Cite web|title=Paul A. Samuelson Biographical|url=https://www.nobelprize.org/prizes/economic-sciences/1970/samuelson/biographical/}}

Samuelson's book was the second to introduce Keynesian economics to a wide audience, and was by far the most successful. Canadian economist Lorie Tarshis, who had been a student attending Keynes's lectures at Harvard in the 1930s, published in 1947 an introductory textbook that incorporated his lecture notes, titled [https://archive.org/details/elementsofeconom030865mbp/page/n5/mode/2up Elements of Economics].

Samuelson's textbook was a watershed in introducing the serious study of business cycles to the economics curriculum. It was particularly timely because it followed the Great Depression. The study of business cycles along with the introduction of the Keynesian approach of aggregate demand set the stage for the macroeconomic revolution in America, which then diffused throughout the world through translations into every major language. Generations of students, who then became teachers, learned their first and most influential lessons from Samuelson's Economics. It attracted many imitators, who became successful in different niches of the college market.

The text was not without criticism. While it praised the "mixed economy" of market and government, some found that too radical and attacked it as socialist. As a precursor to criticisms of Samuelson's Economics textbook, Lorie Tarshis's textbook was attacked by trustees of, and donors to, American colleges and universities as preaching a "socialist heresy". Piling on, William F. Buckley, Jr., in his 1951 book, God and Man at Yale, devoted an entire chapter, attacking both Samuelson's and Tarshis' textbooks. For Samuelson's book, Buckley drew from the Educational Examiner and credited it as an "excellent review of Samuelson's text." ("Note to Chapter Two." p. 234) For Tarshis' book, Buckley drew from Merwin K. Hart's organization {{italics correction|to wit}}: "I am also grateful to the National Economic Council for its telling analysis of the Tarshis." ("Note to Chapter Two." p. 234) Buckley essentially characterized both as – in the words of Paul Davidson – "communist inspired". Buckley, for the rest of his life, defended the criticisms set forth in his book.

There are 388 papers in Samuelson's Collected Scientific Papers. Stanley Fischer (1987, p. 234) writes that taken together they are "unique in their verve, breadth of economic and general knowledge, mastery of setting, and generosity of allusions to predecessors".

Samuelson was co-editor, along with William A. Barnett, of Inside the Economist's Mind: Conversations with Eminent Economists (Blackwell Publishing, 2007), a collection of interviews with notable economists of the 20th century.

• Member of the American Academy of Arts and Sciences,{{Cite web |title=Paul Anthony Samuelson |url=https://www.amacad.org/person/paul-anthony-samuelson |access-date=2022-12-15 |website=American Academy of Arts & Sciences |language=en}} the American Philosophical Society,{{Cite web |title=APS Member History |url=https://search.amphilsoc.org/memhist/search?creator=Paul+Samuelson&title=&subject=&subdiv=&mem=&year=&year-max=&dead=&keyword=&smode=advanced |access-date=2022-12-15 |website=search.amphilsoc.org}} the United States National Academy of Sciences,{{Cite web |title=Paul A. Samuelson |url=http://www.nasonline.org/member-directory/deceased-members/50903.html |access-date=2022-12-15 |website=www.nasonline.org}}
• Fellow of the British Academy
• President (1965–68) of the International Economic Association
• Member and past president (1961) of the American Economic Association
• Member of the editorial board and past president (1951) of the Econometric Society
• Fellow, council member and past vice-president of the Royal Economic Society.
• Member of Phi Beta Kappa.

{{refbegin}}

• Samuelson, Paul A. (1947), Enlarged ed. 1983. Foundations of Economic Analysis, Harvard University Press.
• Samuelson, Paul A. (1948), Economics: An Introductory Analysis, {{ISBN|0-07-074741-5}}; with William D. Nordhaus (since 1985), 2009, 19th ed., McGraw–Hill. {{ISBN|978-0-07-126383-2}}
• Samuelson, Paul A. (1958), Linear Programming and Economic Analysis with Robert Dorfman and Robert M. Solow, McGraw–Hill. Chapter-preview [https://books.google.com/books?id=k5_vzaCNQP4C&pg=PP11 links.]

• {{cite book | last = Samuelson | first = Paul A. | contribution = Efficient paths of capital accumulation in terms of the calculus of variations | editor-last1 = Arrow | editor-first1 = Kenneth J. | editor-last2 = Karlin | editor-first2 = Samuel | editor-last3 = Suppes | editor-first3 = Patrick | editor-link1 = Kenneth Arrow | editor-link2 = Samuel Karlin | editor-link3 = Patrick Suppes | title = Mathematical models in the social sciences, 1959: Proceedings of the first Stanford symposium | pages = 77–88 | publisher = Stanford University Press | location = Stanford, California | series = Stanford mathematical studies in the social sciences, IV | year = 1960 | isbn = 9780804700214 }}
• {{cite book | last = Samuelson | first = Paul A. | contribution = Quesnay's 'Tableau Economique' as a theorist would formulate it today | editor-last1 = Meek | editor-first1 = Ronald (author) | editor-last2 = Bradley | editor-first2 = Ian C.| editor-last3 = Howard | editor-first3 = Michael C.| editor-link1 = Ronald L. Meek | title = Classical and Marxian political economy: essays in honour of Ronald L. Meek | pages = 45–78 | publisher = Macmillan | location = London | year = 1982 | isbn = 9780333321997 }}

• {{cite journal |last=Samuelson |first=Paul A. |year=1952 |title=Economic Theory and Mathematics – An Appraisal |journal=American Economic Review |volume=42 |issue=2 |url=http://cowles.econ.yale.edu/P/cp/p00b/p0061.pdf |pages=56–66}}
• {{cite journal | last1 = Samuelson | first1 = Paul A | year = 1954 | title = The Pure Theory of Public Expenditure | journal = Review of Economics and Statistics | volume = 36 | issue = 4| pages = 387–89 | doi = 10.2307/1925895 | jstor = 1925895 | s2cid = 153571905 }}

• The Collected Scientific Papers of Paul A. Samuelson, MIT Press. Preview links for vol. 1–3 below. Contents links for vol. 4–7. {{OCLC|1079936608|show=all}}.
• Samuelson, Paul A. (1966), Vol. [https://books.google.com/books?id=oi-yoPkdKXkC&pg=PR9=gbs_book_other_versions_r 1] → via Google Books, 1937–mid-1964.
• ––. (1966), Vol. [https://books.google.com/books?id=XQQFn8Vk470C&pg=PR9=gbs_book_other_versions_r 2] → via Google Books, 1937–mid-1964.
• ––. (1972), Vol. [https://books.google.com/books?id=xisb9usg790C&dq=false&pg=PR7 3] → via Google Books, mid-1964–1970.
• ––.(1977), Vol. [https://archive.org/details/trent_0116403027612/page/n5/mode/2up 4] → via Internet Archive {{registration required|nolink=y}}, 1971–76.
• ––. (1986), Vol. [https://books.google.com/books?id=UKeJEc46R9AC&pg=PR8 5] → via Google Books, 1977–1985 [https://web.archive.org/web/20150630034401/https://mitpress.mit.edu/books/collected-scientific-papers-paul-samuelson-3 Description] → via
• ––. (2011), Vol. [https://mitpress.mit.edu/books/samuelson/samuelson6.pdf 6]{{dead link|date=November 2017 |bot=InternetArchiveBot |fix-attempted=yes }}, 1986–2009. [https://web.archive.org/web/20110502115456/http://mitpress.mit.edu/catalog/item/default.asp?ttype=2&tid=12518 Description] → via Wayback Machine
• ––. (2011), Vol. [https://mitpress.mit.edu/books/samuelson/samuelson7.pdf 7]{{dead link|date=November 2017 |bot=InternetArchiveBot |fix-attempted=yes }}, 1986–2009.

• Samuelson, Paul A. (1983). "My Life Philosophy", The American Economist, 27(2), [https://journals.sagepub.com/doi/pdf/10.1177/0569434516630199 pp. 5–12.]
• Samuelson, Paul A. (2007), Inside the Economist's Mind: Conversations with Eminent Economists with William A. Barnett, Blackwell Publishing, {{ISBN|1-4051-5917-0}}
• Samuelson, Paul A. (2002), Paul Samuelson and the Foundations of Modern Economics, Transaction Publishers, {{ISBN|978-0-76-580114-2}}

• [http://library.duke.edu/rubenstein/findingaids/samuelsonpaul/ Paul A. Samuelson Papers, 1933–2010], Rubenstein Library, Duke University. {{OCLC|664246147}}.

{{refend}}

{{cols}}

• Samuelson's inequality
• Samuelson's Iceberg transport cost model
• Keynesian economics
• New Keynesian economics
• Neo-Keynesian economics
• Neoclassical economics
• Paul Samuelson – Wikiquote
• List of Jewish Nobel laureates

{{colend}}

{{reflist|group=lower-alpha|50em|refs=

The Educational Reviewer was founded in 1949 by Lucille Cardin Crain ({{italics correction|née}} Marie Lucille Gabrielle Cardin; 1901–1983), a conservative activist whose primary interest was in – as she stated in 1951 – "rooting out radical influences in American education." In each issue, arch-conservative academicians and writers offered their views of high school and college textbooks as evidence of collectivist content and the like. The publication, for the first three years, was chiefly financed by William F. Buckley, Jr. Crain's husband, Kenneth Cardwell Crain (1883–1969), was a brother of Gustavus Demetrious Crain, Jr. (1885–1973), founder of Crain Communications.

}}

{{reflist|30em|refs=

{{cite book |ref={{SfnRef|Buckley,|1951|p=}} |last1=Buckley |first1=William F. Jr. |author-link1=William F. Buckley, Jr. |date=December 1951 |orig-year=September 1951 |chapter=Chapter 2: Individualism at Yale |chapter-url=https://archive.org/details/godmanatyale0000unse/page/44/mode/2up |title=God and Man at Yale: The Superstitions of "Academic Freedom |url=https://archive.org/details/godmanatyale0000unse/page/44/mode/2up |url-access=registration |type=4th printing |language=en-US |location=Chicago |publisher=Henry Regnery Company |pages=45–113 |isbn=9780895266927 |access-date=April 22, 2021 |via=Internet Archive |postscript={{space|1}}(Buckley's criticism of Tarshis's textbook, {{URL|https://archive.org/details/elementsofeconom030865mbp|The Elements of Economics}}, begins at p. 49 and is expanded in Appendix VII → pp. 227, 230–231) }}.{{space|1}}{{OCLC|189667|show=all}}.

{{cite journal |ref={{SfnRef|Davidson, Autumn|2005|p= }} |last1=Davidson |first1=Paul |author-link1=Paul Davidson (economist) |date=Autumn 2005 |title=Galbraith and the Post Keynesians |url=http://www.jstor.com/stable/4538962 |access-date=April 22, 2021 |url-access=subscription |journal=Journal of Post Keynesian Economics |language=en-US |publisher=Taylor & Francis, Ltd. |volume=28 |issue=1 |pages=103–113 |jstor=4538962 |jstor-access= |via= |postscript={{space|1}}("William F. Buckley [{{nowrap| ... }}] attacked Tarshis's book as being communist inspired." p. 107) }}{{space|1}}{{ISSN|0160-3477}} (print publication); {{ISSN|1557-7821}} (online publication); {{OCLC|5550151503|192224991}} (article).

{{cite journal |ref={{SfnRef|Davidson, Spring|2015|p= }} |last1=Davidson |first1=Paul |author-link1=Paul Davidson (economist) |date=Spring 2015 |title=What Was the Primary Factor Encouraging Mainstream Economists to Marginalize Post Keynesian Theory? |url= |access-date= |url-access= |journal=Journal of Post Keynesian Economics |language=en-US |publisher=Taylor & Francis, Ltd. |volume=37 |issue=3 |pages=369–383 |doi=10.1080/01603477.2015.1000093 |jstor= |s2cid=154780517 |jstor-access= }}{{space|1}}{{ISSN|0160-3477}} (print publication); {{ISSN|1557-7821}} (online publication); {{ProQuest|1673822215}} (abstract; database → ABI/INFORM Collection); {{OCLC|8504916331}} (article).

{{Cite news |url=https://newspapers.com/image/370559693/ |title='Playboy', 'Monitor' Honored |last=Devaney |first=James J. |date=May 22, 1968 |work=Hartford Courant |access-date=March 20, 2019 |issue=143 |edition=Final |volume=131 |page=36 |url-access=subscription |via=Newspapers.com}}

{{cite journal |ref={{SfnRef|Harcourt, G. C. |1982}} |last=Harcourt |first=G. C. |author-link1=Geoffrey Harcourt |date=July 1982 |title=An Early Post Keynesian: Lorie Tarshis (or: Tarshis on Tarshis by Harcourt) |url=https://www.jstor.org/stable/4537699 |access-date=2022-11-19 |url-access=subscription |journal=Journal of Post Keynesian Economics |publisher=Taylor & Francis, Ltd. |volume=4 |issue=4 |pages=609–619 |doi=10.1080/01603477.1982.11489324 |jstor=4537699}}{{space|1}}{{ISSN|0160-3477}} (publication); {{OCLC|222424878|5550180927|7323662377}} (article).

{{cite thesis |type=PhD dissertation |last=Merton |first=Robert C. |author-link1=Robert C. Miller |date=1970 |title=Analytical Optimal Control Theory as Applied to Stochastic and Non-Stochastic Economics |url=https://dspace.mit.edu/handle/1721.1/13875 |publisher=Massachusetts Institute of Technology |hdl=1721.1/13875 }}

{{cite book |last=Parker |first=Randall E. |title=Reflections on the Great Depression |location=Cheltenham |publisher=Edward Elgar |year=2002 |page=25 |isbn=978-1-84376-335-2 }}

{{cite journal |ref={{SfnRef|Rosalsky, March 14,|2018|p=}} |last1=Rosalsky |first1=Gregory Ellis |author-link1= |date=March 14, 2018 |title=Freeing Econ 101: Beyond the Grasp of the Invisible Hand |url=https://behavioralscientist.org/freeing-econ-101-beyond-the-grasp-of-the-invisible-hand/ |access-date=April 23, 2021 |format= |department= |journal=Behavorial Scientist |type=non-profit digital magazine |series= |language=en-US |edition= |location=Broad Street, Lower Manhattan }}

{{cite book |last1=Sanyal |first1=Amal |author-link1= |date=2018 |chapter=After Keynes – Box 6.3: Paul Samuelson |chapter-url=https://books.google.com/books?id=OEcrDwAAQBAJ&pg=PA174 |title=Economics and Its Stories |url=https://books.google.com/books?id=OEcrDwAAQBAJ&pg=PA174 |language=en |location=London |publisher=Routledge, an imprint of the Taylor & Francis Group |page=174 |isbn=9781351581691 }}{{space|1}}{{ISBN|1-1380-9960-0|978-1-1380-9960-9}} (hard copy); {{ISBN|978-1-3150-9896-8}} (e-book); {{OCLC|989032184|show=all}}.

{{cite book |ref={{SfnRef|Tarshis,|1947|p=}} |last1=Tarshis |first1=Lorie |author-link1=Lorie Tarshis |date=1947 |title=The Elements of Economics: An Introduction to the Theory of Price and Employment |url=https://archive.org/details/elementsofeconom030865mbp/page/n5/mode/2up |language=en |publisher=Houghton Mifflin Company – The Riverside Press |page= |pages= |oclc=989388561 |access-date=April 23, 2021 |via=Internet Archive }}

{{cite news |date=April 30, 2016 |title=The Trouble With GDP |newspaper=The Economist |url=https://www.economist.com/briefing/2016/04/30/the-trouble-with-gdp |url-access=subscription |access-date=October 22, 2018}}

{{Cite news|url=https://www.nytimes.com/2009/12/14/business/economy/14samuelson.html |title=Paul A. Samuelson, Economist, Dies at 94 |last=Weinstein |first=Michael M. |date=December 13, 2009 |newspaper=The New York Times |issn=0362-4331|access-date=April 26, 2016 }}

}}

• {{cite book |last1=Backhouse |first1=Roger E. |author-link1=Roger E. Backhouse |title=Founder of Modern Economics: Paul A. Samuelson: Volume 1: Becoming Samuelson, 1915–1948. |date=2017 |publisher=Oxford University Press |isbn=978-0-19-066411-4 |language=en}} [https://books.google.com/books?id=65-PDgAAQBAJ Description] & [https://books.google.com/books?id=65-PDgAAQBAJ arrow-scrollable preview].
• {{cite book |first=Stanley |last=Fischer |year=1987 |title=Samuelson, Paul Anthony |work=The New Palgrave: A Dictionary of Economics |volume=4 |publisher=Macmillan |location=London |pages=234–41 |isbn=978-0-935859-10-2 }}.
• {{cite book |first=Leonard |last=Silk |title=The Economists |location=New York |publisher=Basic Books |year=1976 |isbn=978-0-465-01810-9 |url-access=registration |url=https://archive.org/details/economists0000unse }}.
• {{cite book |author-link=Robert Sobel |last=Sobel |first=Robert |title=The Worldly Economists |location=New York |publisher=Free Press |year=1980 |isbn=978-0-02-929780-3 }}.
• {{cite book |first=Daniel R. |last=Fusfeld |year=2002 |chapter=The Neoclassical Synthesis |title=The Age of the Economist |edition=9th |location=Boston |publisher=Addison-Wesley |pages=[https://archive.org/details/ageofeconomist0087fusf/page/198 198–201] |isbn=978-0-321-08812-3 |chapter-url-access=registration |chapter-url=https://archive.org/details/ageofeconomist0087fusf |url=https://archive.org/details/ageofeconomist0087fusf/page/198 }}.
• {{Forummag|title=I inkomstpolitiken tvår vi våra händer|author=|url=https://forum-mag.fi/i-inkomstpolitiken-tvar-vi-vara-hander/|access-date=|date=1973-10-31|issue=1973-17|page=07-09|year=1973|language=sv-SE}}

{{Commons category|Paul Samuelson}}

{{Wikiquote}}

• {{MathGenealogy |id=137085 }}
• {{Nobelprize|name=Paul A. Samuelson}}
• [https://web.archive.org/web/20091027101106/http://geocities.com/gfh_axds_as/zax/samuelson-bio-press.html Presentation Speech] by Professor Assar Lindbeck, Stockholm School of Economics, Award Ceremony, The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 1970
• [https://web.archive.org/web/20040806110730/http://cepa.newschool.edu/het/profiles/samuelson.htm A History of Economic Thought biography], 2004
• {{Cite encyclopedia |title=Paul Anthony Samuelson (1915–2009) |url=http://www.econlib.org/library/Enc/bios/Samuelson.html |encyclopedia=The Concise Encyclopedia of Economics |edition=2nd |series=Library of Economics and Liberty |publisher=Liberty Fund |year=2009 }}
• [https://web.archive.org/web/20071014093711/http://yale.edu/opa/campus/2005_commencement/honorand_bios.html#samuelson Paul Samuelson], Yale Honorands biography, May 2005
• [http://web.mit.edu/newsoffice/2009/obit-samuelson-1213.html "Nobel-winning economist Paul A. Samuelson dies at age 94"], MIT News, December 13, 2009
• {{Internet Archive author |sname = Paul Samuelson}}
• {{C-SPAN|21398}}
• {{Google Scholar id|ZglAOxkAAAAJ}}

{{S-start}}

{{s-ach|aw}}

{{s-bef | before = Ragnar Frisch | before2 = Jan Tinbergen }}

{{s-ttl | title = Laureate of the Nobel Memorial Prize in Economics | years = 1970 }}

{{s-aft | after = Simon Kuznets }}

{{S-end}}

{{Keynesians}}

{{Economics}}

{{John Bates Clark Medal recipients}}

{{Nobel laureates in economics 1969–1975}}

{{1970 Nobel Prize winners}}

{{Winners of the National Medal of Science|behav-social}}

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{{DEFAULTSORT:Samuelson, Paul}}

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