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Quote by Paul Samuelson

“Reasonable men are not reasonable when you're in the bubbles which have characterized capitalism since the beginning of time.”

Quote by Paul Samuelson

Author

Paul Samuelson was an American economist renowned for his contributions to the field of economics. Born on May 15, 1915, and passing away on December 13, 2009, Samuelson was a significant figure in modern economics. His book 'Economics' has been widely used as a textbook in universities. more

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“That's what I would like to do until the end of time, to go on scribbling my articles on the third floor of the Sloan Building, in between playing tennis and drinking coffee at my other study in the Concord Avenue branch of Burger King.”

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“The niceties of existence were not a matter of concern, yet everything around was closed down most of the time. If you lived in a middle-class community in Chicago, children and adults came daily to the door saying, 'We are starving, how about a potato?' I speak from poignant memory.”

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“To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.”

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“Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.”

“When the economy was going up, [Milton Friedman and I] both gave the same advice, and when the economy was going down, we gave the same advice. But in between he didn't change his advice at all.”

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“You could be disqualified for a job [at Harvard] if you were either smart or Jewish or Keynesian. So what chance did this smart, Jewish, Keynesian have?”

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“You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.”

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“Ira [Gershwin] was the shyest, most diffident boy we had ever known. In a class of lower east side rapscallions, his soft-spoken gentleness and low-keyed personality made him a lovable incongruity. He spoke in murmurs, hiding behind a pair of steel-rimmed glasses..Ira had a kid brother who wore high stiff collars, shirts with cuffs and went out with girls.”

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“Lives of great men all remind us greatness takes no easy way.”

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“Songs are the pulse of a nation's heart. A fever chart of its health.”

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