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Paul Samuelson
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    (May 15, 1915-December 13, 2009)
    Born in Gary, Indiana
    Professor of Economics at MIT
    Wrote 'Foundations of Economic Analysis' (1947) and the textbook 'Economics: An Introductory Analysis' (1948)
    Columnist for Newsweek (1966-81)
    Considered a founder of mathematical economics and the 'neoclassical synthesis' between classical economics and Keynesian economics
    Recipient of the Nobel Prize in Economics (1970)
    As a student, he criticized his professors, 'respecting neither age nor rank.'
    He said of his occasional forays as a presidential adviser, 'Often when I became a consultant to a federal agency, that precipitated its demise.'
    During the Cold War he wrote, 'It is a vulgar mistake to think that most people in Eastern Europe are miserable.'
    Two years before the collapse of the USSR, he wrote 'The Soviet economy is proof that, contrary to what many skeptics had earlier believed, a socialist command economy can function and thrive.'
    After taking medication that temporarily dulled his thinking, he noted 'Suddenly I realized how the other half lives!'
    He published an average of a paper a month for fifty years.
    Ben Bernanke called him 'one of the greatest teachers economics has ever known.'
    Economist James Poterba said the impact of his theories was 'like trying to envision how did people do mechanics before Newton.'
    He quipped, 'It is indeed true that the stock market can forecast the business cycle. The stock market has called nine of the last five recessions.'

Credit: C. Fishel

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