Editing Paul Samuelson (section)

==Impact==
Samuelson is considered one of the founders of [[neo-Keynesian economics]] and a seminal figure in the development of [[neoclassical economics]]. In awarding him the [[Nobel Memorial Prize in Economic Sciences]], the committee stated:

{{blockquote|More than any other contemporary economist, Samuelson has helped to raise the general analytical and methodological level in economic science. He has simply rewritten considerable parts of economic theory. He has also shown the fundamental unity of both the problems and analytical techniques in economics, partly by a systematic application of the methodology of maximization for a broad set of problems. This means that Samuelson's contributions range over a large number of different fields.}}

He was also essential in creating the [[neoclassical synthesis]], which ostensibly incorporated [[Keynesian economics|Keynesian]] and [[neoclassical economics|neoclassical]] principles and still dominates current [[mainstream economics]]. In 2003, Samuelson was one of the ten Nobel Prize–winning economists signing the [[Economists' statement opposing the Bush tax cuts]].<ref name="Econ statement">{{cite web|url=http://www.epi.org/publications/entry/econ_stmt_2003/|title=Economists' statement opposing the Bush tax cuts|date=April 3, 2003|access-date=October 31, 2007}}</ref>

Samuelson believed [[unregulated markets]] have drawbacks, he stated, "free markets do not stabilise themselves. Zero regulating is vastly suboptimal to rational regulating. Libertarianism is its own worst enemy!" Samuelson strongly criticised Friedman and [[Friedrich Hayek]], arguing their opposition to state intervention "tells us something about them rather than something about [[Genghis Khan]] or [[Franklin Roosevelt]]. It is paranoid to warn against inevitable slippery slopes ... once individual commercial freedoms are in any way infringed upon."<ref name="Econ2009" />