Economics never was a dismal science. It should be a realistic science. - Paul Samuelson

" "

Economics never was a dismal science. It should be a realistic science.

English
Collect this quote

About Paul Samuelson

Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist. He was the first American to win the Nobel Prize in Economics.

Also Known As

Native Name: Paul Anthony Samuelson
Alternative Names: Paul A. Samuelson
Unlimited Quote Collections

Organize your favorite quotes without limits. Create themed collections for every occasion with Premium.

Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.

Additional quotes by Paul Samuelson

To the student of economic history the preponderant truth is that technical change has since 1750 tended to raise market clearing real wage rates. This property of the Age After Newton is hard to understand and explicate if you believe that sterile congealed-dead-labor is embodied in machines almost infinitely substitutable for live labor; equally confusing to you will be the truth that inventions which are labor saving may at the same time be wage raising! The doctrines of equated rates of surplus value moved Marxians backward from square one in the understanding of the laws of motion of the capitalistic system or the system of the Mixed Economy.

Works in ChatGPT, Claude, or Any AI

Add semantic quote search to your AI assistant via MCP. One command setup.

Social Darwinism is a perverted borrowing from what can be validly established for biology. When I contemplate strong claims by a Richard Posner that law has evolved historically a la Pareto, or arguments that a Coase Theorem ensures that deadweight loss is at its feasible minimum, I fear that von Neumann and Morgenstern are spinning in their graves and Charles Darwin is wondering why he left his barnacles, pigeons, and earthworms.
An unsupported claim by an economist- Darwinist does not acquire validity from a cited analogy with evolution. Truth must find its own legs to stand on.

Loading...