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" I did not throw out my education lightly, but what I was being taught was of no use in explaining what I saw around me. It was the Great Depression. "
Paul Samuelson
Out
Depression
Education
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" Good questions outrank easy answers. "
Paul Samuelson
Good
Education
Easy
" There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either. "
Paul Samuelson
Allow
Economics
Either
" '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
" Women are men without money. "
Paul Samuelson
Men
Women Are
Women
" My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words. "
Paul Samuelson
Mathematics
Nothing
Words
" An intriguing paradox of the 1990s is that it isn't called a decade of greed. "
Paul Samuelson
1990s
Paradox
Decade
" 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
" 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
" The contrafactual history is what it would have been the other way. Think of the Kennedy triumph in the missiles crisis. Worked out fine. Khrushchev blinked and so forth. The other road, you don't want to think too hard about. You could have had nuclear missiles wiping out a tenth of the globe. "
Paul Samuelson
You
History
Road
" Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet. "
Paul Samuelson
Smart
You
Way
" Let me acknowledge that I realize that, in honoring me, the Committee of the Royal Academy of Sciences is in fact saying a good word for all of those of my generation who have been laboring in the same vineyard. "
Paul Samuelson
Realize
Good
Saying
" What I say is, 'If you're so rich, how come you're so dumb?' "
Paul Samuelson
Say
Rich
How
" Self-deception ultimately explains Japan's plight. The Japanese have never accepted that change is in their interest - and not merely a response to U.S. criticism. "
Paul Samuelson
Never
Change
Criticism
" Rent control created deadweight loss. "
Paul Samuelson
Created
Rent
Loss
" When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me? "
Paul Samuelson
Worth
Me
Kid
" 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
" Actually, in my advanced, high-falutin' frontier economics, I often work with what I define as 'money metric utility,' and I ask people, 'Do you really want that? What are you willing to pay for that?' "
Paul Samuelson
Economics
Money
Pay
" Asia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes. "
Paul Samuelson
Come
Fragile
Older
" Economics is a choice between alternatives all the time. Those are the trade-offs. "
Paul Samuelson
Alternatives
Choice
Economics
" 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
" Let those who will - write the nation's laws - if I can write its textbooks. "
Paul Samuelson
Laws
Write
Will
" 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
" It is dead wrong about necessary surplus of winnings over losings. "
Paul Samuelson
Dead
Over
About
" A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession. "
Paul Samuelson
Temporary
Tax
Powerful
" 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
" You're not making a decision if you come to a fork in the road. There is no 'it' to take. It's one or the other. "
Paul Samuelson
Road
Decision
Fork In The Road
" 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
" 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
" Economics has never been a science - and it is even less now than a few years ago. "
Paul Samuelson
Science
Now
Years
" The parts of physics that are exact are the parts of physics that are exact. The parts that are inexact are vastly greater. Sensible scientists don't waste their time pushing against doors that endlessly will not give. They are opportunistic and go where they can, but there are pitfalls in that. "
Paul Samuelson
Physics
Go
Against