Paul Samuelson Quotes

Quotes about:

• The stock market has predicted nine of the last five recessions.

  Paul Samuelson

  Nine, Lasts, Five

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• I don't care who writes a nation's laws - or crafts its advanced treaties - if I can write its economics textbooks.

  Paul Samuelson

  Writing, Law, Textbooks

  "Foreword" by Paul Samuelson in "The Principles of Economics Course" edited by ed. Phillips Saunders and William B. Walstad, 1990.

  48 Copy quote

• Good questions outrank easy answers.

  Paul Samuelson

  Nature, Asking Questions, Environmental

  Paul Anthony Samuelson (1986). “Coll Sci Pap V5”, p.561, MIT Press

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• Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.

  Paul Samuelson

  Philosophy, People, Political

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• Every good cause is worth some inefficiency.

  Paul Samuelson

  Causes, Environment, Very Good

  "An Elder Challenges Outsourcing's Orthodoxy" by Steve Lohr, www.nytimes.com. September 9, 2004.

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• There is something in people; you might even call it a little bit of a gambling instinct… I tell people investing should be dull. It shouldn't be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

  Paul Samuelson

  Vegas, Gambling, People

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• What we know about the global financial crisis is that we don't know very much.

  Paul Samuelson

  Financial, Crisis, Financial Crisis

  "Economics 101: How Little They Know" by Jeff Jacoby, www.realclearpolitics.com. December 16, 2009.

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• Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.

  Paul Samuelson

  Information, Computer, Macroeconomics

  Interview with Conor Clarke, www.theatlantic.com. June 17, 2009.

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• Economics never was a dismal science. It should be a realistic science.

  Paul Samuelson

  Realistic, Economics, Should

  "Paul Samuelson and the Foundations of Modern Economics". Book by Paul Anthony Samuelson, Karigirappa Puttaswamaiah, p. 10, 2002.

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• Thousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them

  Paul Samuelson

  Believe, Intelligent, Men

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• Economists have much to be humble about.

  Paul Samuelson

  Humble, Be Humble, Economist

  "Paul A. Samuelson, Economist, Dies at 94" by Michael M. Weinstein, www.nytimes.com. December 13, 2009.

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• Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.

  Paul Samuelson

  Cancer, Men, Magic

  Paul Anthony Samuelson (1986). “Coll Sci Pap V5”, p.929, MIT Press

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• The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.

  Paul Samuelson

  Philosophy, Real, Political

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• Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

  Paul Samuelson

  Railroads, Stories, Internet

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• Reasonable men are not reasonable when you're in the bubbles which have characterized capitalism since the beginning of time.

  Paul Samuelson

  Men, Capitalism, Reasonable

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• We're a me-me-me generation. We're borrowing the savings of every nation in the world. We're ... piling up a big tab. Now, I may think we're too big to have a run on us. You may think that. But it's possible that God does not.

  Paul Samuelson

  Running, Thinking, Doe

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• A growing nation is the greatest ponzi game ever contrived.

  Paul Samuelson

  Games, Growing, Nations

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• To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.

  Paul Samuelson

  Wall, Mistake, Movement

  1966 Quoted inThe Samuelson Sampler (1973).

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• When the economy was going up, [Milton Friedman and I] both gave the same advice, and when the economy was going down, we gave the same advice. But in between he didn't change his advice at all.

  Paul Samuelson

  Advice, Economy, Milton

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• In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."

  Paul Samuelson

  Past, Guarantees, Investing

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• Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.

  Paul Samuelson

  Analysis, Development, May

  "Report of the evaluative committee for Econometrica". Paper by Paul Samuelson, Tjalling Koopmans, and Richard Stone. Econometrica - journal of the Econometric Society, pp. 141-146, 1954.

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• You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.

  Paul Samuelson

  Academic Life, Littles, Tough

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• Forsake search for needles that are so very small in haystacks that are so very large.

  Paul Samuelson

  Investing, Needles, Forsake

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• For better or worse, US Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian. You know what a cafeteria catholic is?

  Paul Samuelson

  Catholic, Cafeteria, Keynesianism

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• Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

  Paul Samuelson

  Money, Vegas, Saving

  "Paul Samuelson's Words of Wisdom" by Larry Swedroe, www.cbsnews.com. December 17, 2009.

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