Paul Samuelson - What we know about the global financial...

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

Biography

Author Profession: Economist

Nationality: American

Born: May 15, 1915

Links

Find on Amazon: Paul Samuelson

Cite this Page: Citation

Related Authors

Thomas Sowell, Milton Friedman, Robert Reich, John Kenneth Galbraith, Alan Greenspan, Gary Becker, Joseph Stiglitz, Herbert A. Simon

Topics

About, Crisis, Financial, Financial Crisis, Global, Know, Much, Very

Quotes to Explore

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

You Grow Grass Want

Economics is a choice between alternatives all the time. Those are the trade-offs.

Time Economics Choice Those

I think that it's more important for an economist to be wise and sophisticated in scientific method than it is for a physicist because with controlled laboratory experiments possible, they practically guide you; you couldn't go astray. Whereas in economics, by dogma and misunderstanding, you can go very sadly astray.

You Wise Think Economics

To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order.

Beautiful World Economics Sword

I did not throw out my education lightly, but what I was being taught was of no use in explaining what I saw around me. It was the Great Depression.

Depression Education Me Great

It is indeed true that the stock market can forecast the business cycle.

Business True Stock Market Market

You're not making a decision if you come to a fork in the road. There is no 'it' to take. It's one or the other.

You Decision Road Take

Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet.

Life Hope You Smart

Time is our ultimate scarcity. Isaac Newton can give us more electricity, but he can't give us more than 24 hours of the day of time. And so we're constantly having to sacrifice alternate activities to get the one that pleases us most.

Day Time Sacrifice Electricity

Let those who will - write the nation's laws - if I can write its textbooks.

Nation I Can Will Who

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

People Politicians Want Happen

Good questions outrank easy answers.

Education Good Easy Questions

Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.

Science Art Economics Lesson

I came to the University of Chicago on the morning of January 2, 1932. I wasn't yet a graduate of high school for another few months. And that was about the low point of the Herbert Hoover/Andrew Mellon phase after October of 1929. That's quite a number of years to have inaction.

Morning School High School University

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