Explanation of ‘Paul Samuelson’
Paul Samuelson was a noted academic economist who pink a lasting imprint on the field. In 1970, Samuelson was the first American to be apportioned the Nobel Memorial Prize in Economics for his outstanding contributions. Upon get the award, Samuelson was praised for raising “the level of scientific analysis in mercantile theory.” His legacy includes a college textbook called “Economics: An Primary Analysis,” currently in its 19thedition, and available in 40 languages, first published in 1948.
Intervening DOWN ‘Paul Samuelson’
Samuelson attended Harvard University where he was trophied a PhD in philosophy, and his 1941 doctoral dissertation was the basis for “Foundations of Economic Study,” published by Harvard Press in 1947. At 25, Samuelson began to educate at the Massachusetts Institute of Technology, where he remained for the rest of his career, chic a full professor at 32. While at MIT, Samuelson taught generations of pupils on the principles of economics, and continued research into many aspects of pecuniary theory.
Samuelson also served the US government as an adviser to two Presidents, Kennedy and Johnson, and up to the minuter worked as a consultant to the United States Treasury, the Bureau of the Budget and the President’s Convocation of Economic Advisers. In 1996, President Clinton lauded Samuelson’s contribution to economics when he presented him with the Inhabitant Medal of Science, commending him for his “fundamental contributions to economic science” across a 60-year employment.
Samuelson was both a serious technical wonk and a populist about the sphere of economics, digging into such dense research topics as consumer theory, todays welfare economics, linear programming, Keynesian economics, economic dynamics, supranational trade theory, logic choice and maximization, while also co-authoring (with Milton Friedman) a column on money-making issues for Newsweek magazine.
Samuelson died in 2009 at the age of 94 augment a brilliant career in which he made contributions as a teacher, researcher, demagogue, and adviser to students and colleagues in the field of economics.