Paul Samuelson


Paul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, 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 calls 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 born in Gary, Indiana, on May 15, 1915, to Frank Samuelson, a pharmacist, and the former Ella Lipton. His family, he said, was made up of upwardly mobile Jewish immigrants from Poland who had prospered considerably in World War160I, because Gary was a brand new steel town when my family went there. In 1923 Samuelson moved to Chicago he graduated from Hyde Park High School he then studied at the University of Chicago and received his Bachelor of Arts degree there in 1935. He said he was born as an economist, at 8.00am on January 2, 1932, in the University of Chicago classroom. The lecture mentioned was on the British economist Thomas Malthus, who most famously studied population growth and its effects. He felt there was a dissonance between neoclassical economics and the way the system seemed to behave, and he said Henry Simons and Frank Knight were a big influence on him. He then completed his Master of Arts degree in 1936, and his Doctor of Philosophy in 1941 at Harvard

Source: Wikipedia


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