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Samuelson Paul
Date of birth and time May 15, 1915 , 06:00:00
Zodiac Sign Taurus
Moon Sign
Zodiac Sign Taurus
Sun Sign
Zodiac Sign Taurus
Lagan
Rodden Rating: AA
Remembering Since 2009
Horoscope
Events
Work : Prize 1970 (Nobel Memorial Prize in Economic Sciences)
Death:Death, Cause unspecified 13 December 2009 (Age 94) chart Placidus Equal_H.
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Samuelson Paul Biography
American economist and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize in 1970, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". Economic historian Randall E. Parker has called him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century". Samuelson was likely the most influential economist of the later 20th century. In 1996, when he was awarded the National Medal of Science, considered to be Americas top science-honour, President Bill Clinton commended Samuelson for his "fundamental contributions to economic science" for over 60 years. 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. It is now in its 19th edition, having sold nearly 4 million copies in 40 languages. He served as an advisor to Presidents John F. Kennedy and Lyndon B. Johnson, and was a consultant to the United States Treasury, the Bureau of the Budget and the Presidents 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 died on 13 December 2009, at the age of 94. Link to Wikipedia biography Read less
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Paul Anthony Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. He was born in Gary, Indiana.
Key Contributions and Legacy
Samuelson is considered one of the founders of modern economics and made significant contributions to neoclassical synthesis by combining Keynesian economics and classical economics. He is renowned for his work on incorporating mathematical methods into economic analysis, which helped elevate the field's rigor. His textbook Economics, first published in 1948, became a standard text for generations of economics students and has been translated into over 40 languages.
Some of his notable contributions include:
- Revealed preference theory
- Public good theory
- Linear programming
- Factor price equalization
- Stolper–Samuelson theorem
- Overlapping generations model
Later Life and Death
Samuelson continued to contribute to economic thought throughout his long career. He served as an advisor to several US presidents, including John F. Kennedy and Lyndon B. Johnson. He remained an active researcher and writer until late in his life, passing away on December 13, 2009, at the age of 94. His influence on the field of economics remains profound.
Information Availability
Due to the time period in which Paul Samuelson lived, social media as we know it today did not exist. Information regarding his work and contributions can be found in academic journals, economic literature, historical archives, and libraries.
Further Research
To learn more about Paul Samuelson and his contributions to economics, explore resources such as the MIT Libraries archives, which hold a collection of his papers, and consult biographical resources like the Nobel Prize website.
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