Founder of Modern Economics: Paul A. Samuelson

Founder of Modern Economics: Paul A. Samuelson

Author: Roger E. Backhouse

Publisher: Oxford University Press

Published: 2017-04-11

Total Pages: 761

ISBN-13: 0190664118

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Paul Samuelson was at the heart of a revolution in economics. He was "the foremost academic economist of the 20th century," according to the New York Times, and the first American to win the Nobel Prize in Economics. His work transformed the field of economics and helped give it the theoretical and mathematic rigor that increased its influence in business and policy making. In Founder of Modern Economics, Roger E. Backhouse explores the central importance of Samuelson's personality and social networks to understanding his intellectual development. This is the first of two volumes covering Samuelson's extended and productive life and career. This volume surveys Samuelson's early years growing up in the Midwest to his experiences at the University of Chicago and Harvard University, where leading scholars in economics and other disciplines stimulated and rewarded his curiosity. His thinking was influenced by the natural sciences and he understood that a critical, scientific approach increased insights into important social and economic questions. He realized that these questions could not be answered through rhetorical debate but required rigor. His "eureka" moment came, he said, when "a good fairy whispered to me that math was a skeleton key to solve age old problems in economics." Backhouse traces Samuelson's thinking from his early days to the publication of his groundbreaking book Foundations of Economic Analysis and Economics: An Introductory Analysis, which influenced generations of students. His work set the stage for economics to become a more cohesive and coherent discipline, based on mathematical techniques that provided surprising insights into many important topics, from business cycles to wage and unemployment rates, and from how competition influences trade to how tax rates affects tax collection. Founder of Modern Economics is a profound contribution to understanding how modern economics developed and the thinking of a revolutionary thinker.


Paul Samuelson

Paul Samuelson

Author: Robert A. Cord

Publisher: Springer Nature

Published: 2020-01-07

Total Pages: 601

ISBN-13: 1137568127

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A significant part of economics as we know it today is the outcome of battles that took place in the post-war years between Keynesians and monetarists. In the US, the focus of these battles was often between the neo-Keynesians at the Massachusetts Institute of Technology (MIT) and the Chicago monetarists. The undisputed leader of the MIT Keynesians was Paul A. Samuelson, one of the most influential economists of the 20th century and arguably of all time. Samuelson’s output covered a vast number of subjects within economics, the quality of theseoften pioneering contributions unmatched in the modern era. The volume focuses both on how Samuelson’s work has been developed by others and on how that work fits into subsequent developments in the various fields of speciality within which Samuelson operated.


Paul Samuelson and the Foundations of Modern Economics

Paul Samuelson and the Foundations of Modern Economics

Author: Paul Anthony Samuelson

Publisher: Transaction Publishers

Published:

Total Pages: 288

ISBN-13: 9781412830591

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Paul Samuelson was the first US Nobel Laureate in economics and the second overall. In considering his life and work, this text incorporates various papers that often contain some strong critical statements. There is also an examination of vanity as well as creativity in Samuelson's ideas.


Samuelson Friedman: The Battle Over the Free Market

Samuelson Friedman: The Battle Over the Free Market

Author: Nicholas Wapshott

Publisher: W. W. Norton & Company

Published: 2021-08-03

Total Pages: 317

ISBN-13: 0393285197

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A Financial Times Best Economics Book of 2021 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes’s General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don’t care who writes a nation’s laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott’s nimble hands, Samuelson and Friedman’s decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.


Economics

Economics

Author: Paul Anthony Samuelson

Publisher: McGraw-Hill Companies

Published: 1973

Total Pages: 978

ISBN-13:

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Contains chapter overview and outline, learning objectives, key concept review, helpful hints, multiple choice questions and problem solving questions


The Making of Modern Economics

The Making of Modern Economics

Author: Mark Skousen

Publisher: Routledge

Published: 2015-01-28

Total Pages: 770

ISBN-13: 131745586X

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Here is a bold history of economics - the dramatic story of how the great economic thinkers built today's rigorous social science. Noted financial writer and economist Mark Skousen has revised and updated this popular work to provide more material on Adam Smith and Karl Marx, and expanded coverage of Joseph Stiglitz, 'imperfect' markets, and behavioral economics.This comprehensive, yet accessible introduction to the major economic philosophers of the past 225 years begins with Adam Smith and continues through the present day. The text examines the contributions made by each individual to our understanding of the role of the economist, the science of economics, and economic theory. To make the work more engaging, boxes in each chapter highlight little-known - and often amusing - facts about the economists' personal lives that affected their work.


Paul Samuelson and Modern Economic Theory

Paul Samuelson and Modern Economic Theory

Author: Edgar Cary Brown

Publisher: New York : McGraw-Hill

Published: 1983

Total Pages: 232

ISBN-13:

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Economics in a golden age: a personal memoir; Contributions to welfare economics; On general equilibrium and stability; On consumption theory; International trade theory.


Paul A. Samuelson

Paul A. Samuelson

Author: Michael Szenberg

Publisher: Jorge Pinto Books Incorporated

Published: 2005-01

Total Pages: 149

ISBN-13: 9780974261539

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"This book captures much of the spirit of Paul A. Samuelson. Those who know Samuelson, one of the great economists of the twentieth century, only through his writings may have already sensed his wit, his intellect, his brilliance. This book brings these into focus, through details of his personal history and a wealth of anecdotes from colleagues and students." - Joseph E. Stiglitz (Foreword) "Probably more than anyone else in the twentieth century, he transformed the way economists think and write." - Avinash Dixit "Samuelson set a standard in teaching and citizenship.that few if any will ever match." - Kenneth Rogoff "To know Paul Samuelson is to be engaged in a life-long intellectual conversation with the most important economist of our times." - Richard Zeckhauser About Paul Samuelson: Paul Anthony Samuelson is Institute Professor, Emeritus at Massachusetts Institute of Technology. Born in the American midwest in the first half of the twentieth century, he was a provocative student of Jacob Viner and was later wooed from Harvard to MIT. He developed original methodology and instigated controversies in his profession. Samuelson is the author of the best-selling economics textbook of all time, for which he never received an author's advance payment. He is legendary for his expansive, penetrating, undogmatic thinking and generosity of spirit-to students and colleagues alike. He has contributed to national economic policies and business trends and was the winner of the 1970 Nobel Prize in Economics. Paul Samuelson: On Being an Economist is a concise profile of this original thinker whose forceful, profound, skeptical and expansive intellect drove one of the fundamental transformations of twentieth-century economic theory. About the Authors: Michael Szenberg, Ph.D., Distinguished Professor of Economics and Chair, Finance and Economics Department, Lubin School of Business, Pace University, is editor-in-chief of The American Economist. His books include New Frontiers in Economics, coedited with Lall Ramrattan, with a Foreword by Paul A. Samuelson (Cambridge University Press, 2004). Aron A. Gottesman, Ph.D., Assistant Professor, Finance and Economics Department, Lubin School of Business, Pace University, is coauthor of Insurance Logic, Second Edition (Captus Press, 2005). Lall Ramrattan, Ph.D. teaches Economics at the University of California, Berkeley. His books include Reflections of Eminent Economists, coedited with Michael Szenberg (Elgar Publishing Co., 2004).