BS: Obit: Economist Paul Samuelson (Dec 2009)

Subject: BS: bit: Economist Paul Samuelson
From: Genie
Date: 15 Dec 09 - 03:39 AM

I just learned that the noted economist Paul Samuelson (who wrote my Econ. 101 textbook) has just passed on at age 94.

A good long life - productive till pretty much the end. Samuelson, when asked how he felt about "retirement," recently quipped something to the effect that "when I grow up I'll deal with that question."

My main regret is that economists like Samuelson have not found their views holding sway much over the last 40-50 years. Our people and our economy would probably be far better off if they had.

RIP, Prof. Samuelson,

Genie

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Joe Offer
Date: 15 Dec 09 - 03:59 AM

You know, Samuelson's textbook was one of the better texts I had in college. I wonder how long his book was the basic text for Econ 101, all over the US.
Dr. Samuelson, you did a good job.
May you rest in peace.
-Joe-

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: artbrooks
Date: 15 Dec 09 - 09:25 AM

Joe, it may still be, in some places, at least. I think it is in its 15th or 16th edition now.

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Genie
Date: 15 Dec 09 - 11:44 AM

Across The Spectrum Economist Mourn Paul Samuelson (Atlantic Wire)

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Genie
Date: 15 Dec 09 - 11:47 AM

From Wikipedia

"Samuelson is also author (and since 1985 co-author) of an influential principles textbook, Economics, first published in 1948, now in its 19th edition. The book has been translated into forty-one languages and sold over four million copies; it is considered the best-selling economics textbook in history. Written in the shadow of the Great Depression and World War II, it helped to popularize the insights of John Maynard Keynes. A main focus was how to avoid, or at least mitigate, the recurring slumps in economic activity. Samuelson wrote: "It is not too much to say that the widespread creation of dictatorships and the resulting World War II stemmed in no small measure from the world's failure to meet this basic economic problem [the Great Depression] adequately."[16] This reflected the concern of Keynes himself with the economic causes of war and the importance of economic policy in promoting peace.[17]"

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Bee-dubya-ell
Date: 15 Dec 09 - 01:12 PM

I was going to say that four million copy figure seems mighty low. But when you consider that the average college textbook gets sold an average of three times (once as new and twice as used), that equates to around twelve million students having used the text, which sounds about right.

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Herga Kitty
Date: 15 Dec 09 - 03:29 PM

Not just the US, as indicated in Genie's post - it was a textbook for my politics, philosophy and economics course at Oxford (UK) in 1970!

Kitty

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Ross Campbell
Date: 15 Dec 09 - 10:52 PM

For me too, at Strathclyde University, Glasgow, 1967 (3rd edition?)

Ross

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: Stilly River Sage
Date: 16 Dec 09 - 09:42 PM

I missed all of that, but it sounds like a good book to take a look at even if you're not an economics major.

SRS

Subject: RE: BS: Obit: Economist Paul Samuelson (Dec 2009)
From: catspaw49
Date: 16 Dec 09 - 11:40 PM

Exactly right Maggie! His textbooks were for the masses and not purely for economics majors. There should be a required "block of knowledge" in both high school and college. In college, instead of taking some physics course you will never use, a course should be developed about physics using the Feynman Lectures. A stydy of Social Science using Bronowski's "Ascent of Man" instead of dry statistical data. Use Samuelson of course in Economics.

You need detailed studies in your major but everyone needs the "body of knowledge" just to be a better functioning person. Anyway......

Paul Samuelson........Great man and left a work for the ages.

Spaw