Paul Samuelson
Paul Samuelson (Gary, Indiana, 1915 - Belmont, Massachusetts, 2009) was an American economist. He studied at the University of Chicago, and Harvard University (Master degree in 1936 and a Ph.D. in 1941). In 1970, he received the Nobel Memorial Prize in Economic Sciences. Samuelson was the author of Foundations of Economic Analysis (1947), and a textbook, Economics (1948); the last one a popular and influential book for students translated into forty-one languages and considered the best-selling economics textbook in history.
Samuelson was essential to creating the Neoclassical economics, as a neo-Keynesian economist founder. He used mathematical methods developed for thermodynamics to the study of economics. Samuelson considered himself an eclectic liberal. He is best known for his methods and innovations in economics, and not for his political ideas.
“There is nothing in the theory that says trade is always a win-win-win for every group”.
Samuelson spent most of his professional life at the Massachusetts Institute of Technology as a professor.
“The work he did, with no hyperbole, revolutionized numerous fields, including public finance, international trade, and macroeconomics”, Alan Blinder.