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" 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
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" The history of the twentieth century - America's century! - has been pretty much a history of rising prices. "
Paul Samuelson
History
America
Rising
" 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
" 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
" 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
" The Malthusian Theory - that mankind, for biological and sociological reasons, is so fertile, so fecund, that if you started out with the new continent and plenty of land for everybody, in several generations we would multiply our numbers. "
Paul Samuelson
Theory
Land
New
" What we know about the global financial crisis is that we don't know very much. "
Paul Samuelson
Much
Crisis
Financial
" Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does. "
Paul Samuelson
United States
Workers
Hire
" 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
" American society was economically ill-run in the 1980s. Our society has been on a consumption binge. If the American people had a town meeting and said, 'What do we care about posterity? Posterity hasn't done anything for us; we're going to whoop it up now,' that is a rational judgment. But nobody ever did that. "
Paul Samuelson
People
Meeting
Society
" 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
" In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important. "
Paul Samuelson
Research
Role
People
" 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
" It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office. "
Paul Samuelson
Downs
Local
Office
" The Keynesian idea is once again accepted that fiscal policy and deficit spending has a major role to play in guiding a market economy. I wish Friedman were still alive so he could witness how his extremism led to the defeat of his own ideas. "
Paul Samuelson
Ideas
Alive
Defeat
" I came to the University of Chicago on the morning of January 2, 1932. I wasn't yet a graduate of high school for another few months. And that was about the low point of the Herbert Hoover/Andrew Mellon phase after October of 1929. That's quite a number of years to have inaction. "
Paul Samuelson
High School
October
Morning
" Good questions outrank easy answers. "
Paul Samuelson
Good
Education
Easy
" Rent control created deadweight loss. "
Paul Samuelson
Created
Rent
Loss
" 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
" Economics is a choice between alternatives all the time. Those are the trade-offs. "
Paul Samuelson
Alternatives
Choice
Economics
" When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me? "
Paul Samuelson
Worth
Me
Kid
" What I say is, 'If you're so rich, how come you're so dumb?' "
Paul Samuelson
Say
Rich
How
" I can't think of a president who has been overburdened by a knowledge of economics. "
Paul Samuelson
Think
President
Economics
" It is indeed true that the stock market can forecast the business cycle. "
Paul Samuelson
Business
True
Stock Market
" '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
" 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
" 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
" A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession. "
Paul Samuelson
Temporary
Tax
Powerful
" 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
" Every good cause is worth some inefficiency. "
Paul Samuelson
Worth
Good
Good Cause
" The remarkable fact is not how much government does to control economic activity, but how much it does not do. "
Paul Samuelson
Government
How
Control