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" Economics has never been a science - and it is even less now than a few years ago. "
Paul Samuelson
Science
Now
Years
Related Quotes:
" People had J.F.K. all wrong. They thought of him as a dashing, deciding type. He was an extremely hesitant person who checked the ice in front of him all the time. "
Paul Samuelson
People
Person
Wrong
" Funeral by funeral, theory advances. "
Paul Samuelson
Advances
Theory
Funeral
" I have not been able in one lecture even to scratch the surface of the role of maximum principles in analytic economics. "
Paul Samuelson
Surface
Economics
Principles
" I'm not speaking in favor of killing innovation. I'm speaking in favor of centrist use of the market, which involves necessarily a considerable degree of regulation. Markets by themselves will get themselves inevitably into inequality and into their own destruction. It will happen again and again. "
Paul Samuelson
Will
Again
Inequality
" 'There are no easy pickings.' That would be a more accurate, less dramatic statement than 'There's no such thing as a free lunch.' "
Paul Samuelson
Easy
More
Dramatic
" The problem is no longer that with every pair of hands that comes into the world there comes a hungry stomach. Rather it is that, attached to those hands are sharp elbows. "
Paul Samuelson
Problem
Stomach
World
" Today we see how utterly mistaken was the Milton Friedman notion that a market system can regulate itself... Everyone understands now, on the contrary, that there can be no solution without government. "
Paul Samuelson
See
Now
Government
" Rent control created deadweight loss. "
Paul Samuelson
Created
Rent
Loss
" Charles Darwin got his theory, his notion of natural selection, evolution, and so did its independent discoverer, Alfred Wallace, from reading Malthus. "
Paul Samuelson
Reading
Natural
Independent
" Let those who will - write the nation's laws - if I can write its textbooks. "
Paul Samuelson
Laws
Write
Will
" Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes. "
Paul Samuelson
Come
Fragile
Older
" We've become a debtor nation. I don't mean just on fixed-loan terms, but we own increasingly less abroad than is owned from abroad here. "
Paul Samuelson
Just
Here
Become
" Things swept so badly that I had distrust - after 1967, let's say - of American Keynesianism. For better or worse, U.S. Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian. "
Paul Samuelson
American
I Am
Ahead
" In this age of specialization, I sometimes think of myself as the last 'generalist' in economics, with interests that range from mathematical economics down to current financial journalism. My real interests are research and teaching. "
Paul Samuelson
Age
Myself
Think
" I can't think of a president who has been overburdened by a knowledge of economics. "
Paul Samuelson
Think
President
Economics
" I think economics - and this is what I've tried to impart - has a tremendous amount of human interest in it. "
Paul Samuelson
Human
Economics
Think
" Women are men without money. "
Paul Samuelson
Men
Women Are
Women
" Good questions outrank easy answers. "
Paul Samuelson
Good
Education
Easy
" Keynes's contribution was not just to advocate spending government money in the middle of a recession. Every government had done that going back to the days of the Irish potato famine. What he gave to us was a way of thinking about the magnitude and the dimensions and so forth. "
Paul Samuelson
Back
Money
Thinking
" It is indeed true that the stock market can forecast the business cycle. "
Paul Samuelson
Business
True
Stock Market
" Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support. "
Paul Samuelson
Process
Political
Support
" To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order. "
Paul Samuelson
Economics
Beautiful
World
" In well-functioning markets, price equals opportunity cost. Meaning that the proper way to price out and charge us for things is to charge us what those resources could otherwise have produced. This is a lesson the Soviet Union never learned at all, and the rest is history. "
Paul Samuelson
History
Meaning
Opportunity
" The history of the twentieth century - America's century! - has been pretty much a history of rising prices. "
Paul Samuelson
History
America
Rising
" I believe, in the stock market - that's one of my fields - that most people are irrational. And to be irrational, you can be irrational in so many different ways that, practically, the result is indeterminate. "
Paul Samuelson
Stock Market
You
Believe
" I decided that there was only one place to make money in the mutual fund business, as there is only one place for a temperate man to be in a saloon: behind the bar and not in front of it. "
Paul Samuelson
Man
Bar
Business
" A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession. "
Paul Samuelson
Temporary
Tax
Powerful
" I think that it's more important for an economist to be wise and sophisticated in scientific method than it is for a physicist because with controlled laboratory experiments possible, they practically guide you; you couldn't go astray. Whereas in economics, by dogma and misunderstanding, you can go very sadly astray. "
Paul Samuelson
Think
Important
Economics
" My family was well off but not rich. I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble. That was a disequilibrium system. I realized that the ordinary old-fashioned Euclidean geometry didn't apply. "
Paul Samuelson
Go
Lazy
Rich
" The very name of my subject, economics, suggests economizing or maximizing. But Political Economy has gone a long way beyond home economics. "
Paul Samuelson
Economics
Political
Name