W. Edwards Deming
American professor, author, and consultant (1900-1993)
American economist
Paul Anthony Samuelsonwas an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he “has done more than any other contemporary economist to raise the level of scientific analysis in economic theory”.
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Paul Anthony Samuelsonwas an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he “has done more than any other contemporary economist to raise the level of scientific analysis in economic theory”.
Samuelson was one of the most influential economists of the latter half of the 20th century. In 1996, when he was awarded the National Medal of Science. Samuelson considered mathematics to be the “natural language” for economists and contributed significantly to the mathematical foundations of economics with his book Foundations of Economic Analysis. He was author of the best-selling economics textbook of all time: Economics: An Introductory Analysis, first published in 1948. It was the second American textbook that attempted to explain the principles of Keynesian economics.
Samuelson served as an advisor to President John F. Kennedy and President Lyndon B. Johnson, and was a consultant to the United States Treasury, the Bureau of the Budget and the President’s Council of Economic Advisers. Samuelson wrote a weekly column for Newsweek magazine along with Chicago School economist Milton Friedman, where they represented opposing sides: Samuelson, as a self described “Cafeteria Keynesian”, claimed taking the Keynesian perspective but only accepting what he felt was good in it. By contrast, Friedman represented the monetarist perspective. Together with Henry Wallich, their 1967 columns earned the magazine a Gerald Loeb Special Award in 1968.
Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.
American economist
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
American economist
Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
American economist
An intriguing paradox of the 1990s is that it isn’t called a decade of greed.
American economist
It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.
American economist
Self-deception ultimately explains Japan’s plight. The Japanese have never accepted that change is in their interest – and not merely a response to U.S. criticism.
American economist
Economics has never been a science – and it is even less now than a few years ago.
American economist
Asia’s governments come in two broad varieties: young, fragile democracies – and older, fragile authoritarian regimes.
American economist
Sooner or later the Internet will become profitable. It’s an old story played before by canals, railroads and automobiles.
American economist
The problem is no longer that with every pair of hands that comes into the world there comes a hungry stomach. Rather it is that, attached to those hands are sharp elbows.
American economist
Politicians like to tell people what they want to hear – and what they want to hear is what won’t happen.
American economist
Good questions outrank easy answers.
American economist
Every good cause is worth some inefficiency.
American economist
Funeral by funeral, theory advances.
American economist
What we know about the global financial crisis is that we don’t know very much.
American economist