Best quotes by Paul Samuelson on Economics

Checkout quotes by Paul Samuelson on Economics

• ‟ Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.

  - Paul Samuelson
  

• ‟ Economics is a choice between alternatives all the time. Those are the trade-offs.

  - Paul Samuelson
  

• ‟ Economics has never been a science - and it is even less now than a few years ago.

  - Paul Samuelson
  

• ‟ I think economics - and this is what I've tried to impart - has a tremendous amount of human interest in it.

  - Paul Samuelson
  

• ‟ 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
  

• ‟ I have not been able in one lecture even to scratch the surface of the role of maximum principles in analytic economics.

  - Paul Samuelson
  

• ‟ I can't think of a president who has been overburdened by a knowledge of economics.

  - Paul Samuelson
  

• ‟ 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
  

• ‟ 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
  

• ‟ 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