Editing Paul Samuelson (section)

{{short description|American economist (1915–2009)}}
{{Use mdy dates|date=September 2019}}
{{Infobox economist
| image             = Paul A. Samuelson, economist, edited.jpg 
| caption           = Samuelson between 1970 and 1975
| birth_name        = Paul Anthony Samuelson
| birth_date        = {{birth date|1915|5|15}}
| birth_place       = [[Gary, Indiana]], U.S.
| death_date        = {{death date and age|2009|12|13|1915|5|15}}
| death_place       = [[Belmont, Massachusetts]], U.S.
| education         = [[University of Chicago]] ([[Bachelor of Arts|BA]])<br/>[[Harvard University]] ([[Master of Arts|MA]], [[Doctor of Philosophy|PhD]])
| spouse            = {{plainlist|
* {{marriage|Marion Crawford|1938|1978|end=died}}<ref>{{cite journal |title=Marion Crawford Samuelson |journal=[[The New York Times]] |date=15 February 1978 |url=https://www.nytimes.com/1978/02/15/archives/marion-crawford-samuelson.html |accessdate= 1 October 2023}}</ref>
* {{marriage|Risha Clay|1981|<!-- Omission per Template:Marriage instructions -->}}<ref>{{cite journal |title=Risha Clay Samuelson: Obituary |journal=The Boston Globe |date=4 June 2019 |url=https://www.legacy.com/us/obituaries/bostonglobe/name/risha-samuelson-obituary?id=1869420}}</ref>}}
| institution       = [[Massachusetts Institute of Technology]]
| field             = [[Macroeconomics]]
| school_tradition  = [[Neo-Keynesian economics]]
| doctoral_advisor  = [[Joseph Schumpeter]]<br>[[Wassily Leontief]]
| doctoral_students = [[Lawrence Klein]]<ref>{{Google books |id=gyReAgAAQBAJ |title=Business Cycles and Depressions: An Encyclopedia |page=361}}</ref><ref>{{cite journal |last1=De Vroey |first1=Michel |last2=Malgrange |first2=Pierre |title=From ''The Keynesian Revolution'' to the Klein–Goldberger model: Klein and the Dynamization of Keynesian Theory |journal=History of Economic Ideas |volume=20 |issue=2 |pages=113–36 |year=2012 |url=https://www.researchgate.net/publication/46473601}}</ref><br>[[Robert C. Merton]]<ref name="Merton 1970"/>
| influences        = [[John Maynard Keynes|Keynes]]{{•}} [[Joseph Schumpeter|Schumpeter]]{{•}} [[Wassily Leontief|Leontief]]{{•}} [[Gottfried Haberler|Haberler]]{{•}} [[Alvin Hansen|Hansen]]{{•}} [[Edwin Bidwell Wilson|Wilson]]{{•}} [[Knut Wicksell|Wicksell]]{{•}} [[Erik Lindahl|Lindahl]]
| contributions     = [[Neoclassical synthesis]]<br>[[Mathematical economics]]<br>[[Economic methodology]]<br />[[Revealed preference]]<br>[[International trade]]<br>[[Economic growth]]<br>[[Public goods]]
| awards            = [[John Bates Clark Medal]] (1947)<br />[[Nobel Memorial Prize in Economic Sciences]] (1970)<br>[[National Medal of Science]] (1996)
| repec_prefix      = e
| repec_id          = psa57
| signature         = Paul_Samuelson_Signature_from_the_Goldman_Collection.png
}}
{{Macroeconomics sidebar}}
'''Paul Anthony Samuelson''' (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the [[Nobel Memorial Prize in Economic Sciences]]. When awarding the prize in 1970, the [[Swedish Royal Academies]] stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".<ref name="MIT">{{cite web|url=http://web.mit.edu/newsoffice/2009/obit-samuelson-1213.html|title=Nobel-winning economist Paul A. Samuelson dies at age 94|work=MIT News|last=Frost|first=Greg|date=December 13, 2009}} "In a career that spanned seven decades, he transformed his field, influenced millions of students and turned MIT into an economics powerhouse"</ref> 

Samuelson was one of the most influential economists of the latter half of the 20th century.<ref name="Econ2009">[http://www.economist.com/node/15127616 "Paul Samuelson: The last of the great general economists died on December 13th, aged 94"], ''[[The Economist]]'', December 17, 2009</ref><ref name="Dixit">{{cite journal |last1=Dixit |first1=Avinash |title=Paul Samuelson's Legacy |journal=Annual Review of Economics |date=1 September 2012 |volume=4 |issue=1 |pages=1–31 |doi=10.1146/annurev-economics-080511-110957 |language=en |issn=1941-1383|doi-access= }}</ref> In 1996, he was awarded the [[National Medal of Science]].<ref name="MIT" /> Samuelson considered [[mathematics]] to be the "natural language" for economists and contributed significantly to the mathematical foundations of economics with his book ''[[Foundations of Economic Analysis]]''.<ref>{{Cite journal|last=Solow|first=Robert|date=2010|title=On Paul Samuelson|journal=Challenge|volume=53|issue=2|pages=113–116|doi=10.2753/0577-5132530207|s2cid=155020549}}</ref> He was author of the best-selling economics textbook of all time: ''[[Economics: An Introductory Analysis]]'', first published in 1948.<ref name="Mark">{{cite journal |last=Skousken |first=Mark |title=The Perseverance of Paul Samuelson's Economics |journal=Journal of Economic Perspectives |volume=11 |issue=2 |date=Spring 1997 |pages=137–152 |doi=10.1257/jep.11.2.137 |doi-access=free }}</ref> It was the second American textbook that attempted to explain the principles of [[Keynesian economics]]. 

Samuelson served as an advisor to President [[John F. Kennedy]] and President [[Lyndon B. Johnson]], and was a consultant to the [[United States Treasury]], the Bureau of the Budget and the President's [[Council of Economic Advisers]]. Samuelson wrote a weekly column for ''[[Newsweek]]'' magazine along with [[Chicago school (economics)|Chicago School]] economist [[Milton Friedman]], where they represented opposing sides: Samuelson, as a self described "Cafeteria Keynesian",<ref name="Econ2009" /> claimed taking the Keynesian perspective but only accepting what he felt was good in it.<ref name="Econ2009" /> By contrast, Friedman represented the [[Monetarism|monetarist]] perspective.<ref name="Szenberg">{{cite book |last1=Szenberg |first1=Michael |author-link=Michael Szenberg|last2=Gottesman |first2=Aron A. |last3=Ramrattan |first3=lall |title=Paul Samuelson: On Being an Economist |location=New York |publisher=Jorge Pinto Books |year=2005 |page=18 |isbn=978-0-9742615-3-9 }}</ref> Together with [[Henry Wallich]], their 1967 columns earned the magazine a [[Gerald Loeb Special Award]] in 1968.<ref name="Devaney 1968 May 22" />