Paul Samuelson Quotes

Paul Samuelson
Paul Samuelson
American Economist
Born: May 15, 1915
Been Economics Money People Will You
Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell
Time is our ultimate scarcity. Isaac Newton can give us more electricity, but he can't give us more than 24 hours of the day of time. And so we're constantly having to sacrifice alternate activities to get the one that pleases us most. Paul Samuelson
Time Day Sacrifice Our Pleases Constantly Scarcity Give Having More He Hours Most Alternate Isaac Ultimate Than Get Us Newton Electricity Activities
What we know about the global financial crisis is that we don't know very much. Paul Samuelson
Financial Financial Crisis Crisis About Global Know Very Much
Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them. Paul Samuelson
Art Science First Economics Judgment Lesson Our Ways Exact About Data Almost Toward Combination Learned Improving Them Reasoning Elements Bases Last
Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support. Paul Samuelson
Benefits Political Otherwise Economic Economic Benefits Economic Growth Support Globalization Loses Sustained Process Growth
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
Myself Age Financial Sometimes Economics Research Down Think Range Journalism Real Mathematical Current Interests Teaching Specialization Last
Today we see how utterly mistaken was the Milton Friedman notion that a market system can regulate itself... Everyone understands now, on the contrary, that there can be no solution without government. Paul Samuelson
Today Government Market On The Contrary Everyone System Solution See Mistaken Without Understands How Itself Contrary Notion Regulate Now Utterly Milton
To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order. Paul Samuelson
Beautiful World Economics Strewn Enough Analytical Ability Perceptive Picked Powerful Terrain Arranged Equipment His Mathematical Up Begging Person Order Realise Unified Theorems Sword Her
It is indeed true that the stock market can forecast the business cycle. Paul Samuelson
Business Market Indeed True Forecast Stock Stock Market Cycle
You're not making a decision if you come to a fork in the road. There is no 'it' to take. It's one or the other. Paul Samuelson
You Decision Other Take Road Come Making Fork Fork In The Road
Politicians like to tell people what they want to hear - and what they want to hear is what won't happen. Paul Samuelson
People Politicians Tell Like Hear Want Happen
Every good cause is worth some inefficiency. Paul Samuelson
Good Worth Cause Every Some Inefficiency Good Cause
My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words. Paul Samuelson
Mathematics Words Nothing Literary Cannot Use Belief Expressed Careful
In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important. Paul Samuelson
People Money Important Research Collect Some Per Rates Fed Bother Had Important Role Were Dollars Role Did Cent Interest Interest Rates Even Found Million Million Dollars
When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me? Paul Samuelson
Me Worth Three Hershey Reckoned Kid Bars Things
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. Paul Samuelson
Problem World Every Those Hungry Rather Attached Sharp Longer Hands Stomach Elbows Pair
It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office. Paul Samuelson
Rich Local Churchill Easy Vegas Office Get Downs Las Vegas
Things swept so badly that I had distrust - after 1967, let's say - of American Keynesianism. For better or worse, U.S. Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian. Paul Samuelson
Better Worse Say Distrust Had Badly Am American Where After Far Swept Things Started
Investing should be dull. It shouldn't be exciting. Paul Samuelson
Investing Exciting Dull Should
Let me acknowledge that I realize that, in honoring me, the Committee of the Royal Academy of Sciences is in fact saying a good word for all of those of my generation who have been laboring in the same vineyard. Paul Samuelson
Saying Good Me Generation Word Honoring Those My Generation Fact Academy Sciences Been Same Committee In Fact Acknowledge Realize Who Vineyard Royal
There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either. Paul Samuelson
You Economics Nothing Would Solve Allow Either
It is dead wrong about necessary surplus of winnings over losings. Paul Samuelson
About Wrong Over Dead Surplus Necessary
The remarkable fact is not how much government does to control economic activity, but how much it does not do. Paul Samuelson
Government Control Economic Economic Activity Fact Remarkable Does How How Much Much Activity
Avoiding inflation is not an absolute imperative but rather is one of a number of conflicting goals that we must pursue and that we may often have to compromise. Paul Samuelson
Goals Inflation Must Rather Compromise Imperative Absolute Pursue May Often Conflicting Avoiding Number
I can't think of a president who has been overburdened by a knowledge of economics. Paul Samuelson
Knowledge Economics Think President Has-Been Been Who
A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession. Paul Samuelson
Recession Weapon Temporary Rates Individual Powerful Powerful Weapon Reduction Tax Against Tax Rates Incomes
Actually, in my advanced, high-falutin' frontier economics, I often work with what I define as 'money metric utility,' and I ask people, 'Do you really want that? What are you willing to pay for that?' Paul Samuelson
Work You People Money Economics Pay Define Willing Advanced Metric Often Frontier Want Ask Really Utility Actually
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