Monday, January 19, 2026

Paul Samuelson and mathematical economics (minimal version)

Paul Samuelson (1915-2009) is an American economist best known for his textbook, Economics (1948). There are 3 quotes listed below.

1. "I can claim that in talking about modern economics I am talking about me. My finger has been in every pie. I once claimed to be the last generalist in economics, writing about and teaching such diverse subjects as international trade and econometrics, economic theory and business cycles, demography and labor economics, finance and monopolistic competition, history of doctrines and locational economics." (Lives of laureates, 1985)

2. "Macroeconomics - even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science. It can be better or it can be worse, but there isn't guaranteed predictability in these matters." (Interview with Paul Samuelson, 2007)

3. "My notion of a fruitful economic science would be that it can help us explain and understand the course of actual economic history. A scholar who seriously addresses commentary on contemporary monthly and yearly events is, in this view, practicing the study of history - history in its most contemporary time phasing." (Interview with Paul Samuelson, 2003)

(original version from April 2017)