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Paul Anthony Samuelson
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- 3. PAUL ANTHONY SAMUELSON Was born in May 15, 1915, in Gary Indiana Died on December 13, 2009 in Belmont, Massachusetts,US Samuelson entered the university of Chicago as a 16 years-old, later claiming that he was “born as an economist on January 2, 1932”. Professor of Economics at the Massachusetts Institute of technology. With interest that range from mathematical economics down to current financial journalism. His real interests are research and teaching.
- 4. His workin economic theory has been in modern welfare economics, linear programming, Keynesian economics, Consumer Theory, Finance Theory, Capital Theory, microeconomics, economics dynamics, international trade theory, logic choice and maximization. Professor Samuelson calls himself ‘a “modern” economic…in the right wing of the Democratic New Deal economist.” Paul Samuelson used mathematics to formulate influential economic theories and, in 1970, became the first American to win the Novel Price in Economic Sciences Samuelson demonstrated that free market theories, were applicable during times od economic stability, but government measures, such as tax cuts, were otherwise needed to overcome inefficiencies and provides stimulation.
- 5. Samuelson demonstrated thatfree market theories, were applicable during times od economic stability, but government measures, such as tax cuts, were otherwise needed to overcome inefficiencies and provides stimulation He also served as a consultant for several government division over the course of his career, including the National Resources Planning Board, the Bureau of the Budget and the United States Treasury and Samuelson became a trusted adviser to President John F. Kennedy.
- 6. CONTRIBUTIONS OF PAUL SAMUELSONIN ECONOMICS 1. Theory of revealed Preference 2. Business cycles 3. Social welfare function 4. Samuelsson's Utility Possibility Approach 5. Inflation
- 7. BOOKS The Foundations ofEconomic of Analysis Economics - first published in 1948 - was the nation’s best-selling textbook for nearly 30 years - translated into 20 language, it was 50,000 copies a year a half century after it first appeared.
- 8. FAMOUS QUOTES “Economic aresaid to disagree too much but in ways that are too much alike; If eight sleep in the same bed, you can be sure that, like Eskimos, when they turn over, they’ll will all turn over together “ “ I don’t care who writes a nation’s laws- or crafts its advanced treatises- if I can write economics textbooks,”
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