Paul Samuelson ob"m
Abe Kohen
uncle) passed away this Sunday.
The most amazing things about that amazing man:
1. He survived an anti-Jewish, anti-intellectual, anti-Keynesian department
head at Harvard when he was in grad school. He was one more Jew who fled
from Harvard to MIT.
2. Possibly the first of many Jewish exconomists to win the Nobel Prize in
1970.
3. He was friends with his greatest protagonist Milton Friedman (Nobel 1976)
having met at U of Chicago where Samuelson was an undergrad while Friedman
was a grad student. Friends who could disagree about economics, yet still be
good friends. It is probably that friendship which drove each other to
greater heights than they each would have achieved otherwise.
Daya l'hakima b'rmiza.
Abe
Amitai
> Daya l'hakima b'rmiza.
>
Before Abe is reminded that this is an English language newsgroup:
The saying above is the Hebrew (Aramaic) equivalent of "A word to the
wise is sufficient".
Amitai
> Abe
Arthur Kamlet
Abe Kohen <abek...@gmail.com> wrote:
>As many of you know the great economist Paul Samuelson (Larry Summers'
>uncle) passed away this Sunday.
>
>The most amazing things about that amazing man:
>
>1970.
The first American and the second person to win the Nobel in Economics.
Along with many students who took Economics, we used his textbook
titled simply, "Economics." Wonderful text.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
sheldonlg
His book was the one we used in college.
DoD
"Amitai" <chr...@techunix.technion.ac.il> wrote in message
news:96637b69-26cb-4dd0...@y24g2000yqb.googlegroups.com...
Thank you.
I personally am a big Milton Friedman fan.
It is really interesting that while most Jews slant to the liberal side, the
few Jews that are
conservative have a huge impact on their side.
When I think of conservativism, the first names that come to my head are,
Horowitz, Goldberg, Krauthammer, Sayet, Friedman.
When I think of liberalism, the first names that come to my head are,
Markos(what ever his last name is), Huffington, Corn, Henican...
Weird......
David
Abe Kohen
"Arthur Kamlet" <kam...@panix.com> wrote in message
news:hgcc25$f2c$1...@reader1.panix.com...
> In article <hgcbbk$apn$1...@harrier.steinthal.us>,
> Abe Kohen <abek...@gmail.com> wrote:
>>As many of you know the great economist Paul Samuelson (Larry Summers'
>>uncle) passed away this Sunday.
>>
>>The most amazing things about that amazing man:
>>
>>2. Possibly the first of many Jewish economists to win the Nobel Prize in
>>1970.
>
>
> The first American and the second person to win the Nobel in Economics.
He was the winner of the SECOND Nobel Prize in Economics, but he was the
THIRD person to win the Economics prize. In 1969 it was awarded to both
Ragnar Frisch and Jan Tinbergen.
Not knowing their religious affiliations, I wrote "Possibly the first ...
Jewish," as Frisch or Tinbergen could have been (but probably not) from the
Tribe.
> Along with many students who took Economics, we used his textbook
> titled simply, "Economics." Wonderful text.
I can't remember which Econ books I might have used. Some Econ books
migrated from me to my offspring and some from my offspring to me. In my MBA
program, where I majored in Finance, I took challenge tests to get out of
several Econ requirements. I note that in my Macro-Econ book I wrote (many
years ago) "The Economics of Macaroni."
Happy Hanuka,
Abe
Yisroel Markov
That book has changed some over the years:
"Let those who will write the nation's laws if I can write its
textbooks," Samuelson said during a speech at Trinity University in
San Antonio, Texas. He revised his own widely read textbook,
"Economics," about every three years since 1948. One of the best and
punchiest statements in the 1970 edition was his comment about a
proposal to raise the minimum wage from its existing level of $1.45 an
hour to $2.00 an hour: "What good does it do a black youth to know
that an employer must pay him $2.00 an hour if the fact that he must
be paid that amount is what keeps him from getting a job?"
This is the kind of comment that causes many on the left to grit their
teeth; and yet Samuelson was a liberal Keynesian and the best-known
rival of the late libertarian monetarist, Milton Friedman. The two men
respected each other highly, but the intellectual influence was mainly
one way. Over time, Samuelson came more to Friedman's views,
especially on monetary policy.
In the 1948 edition of his textbook, Samuelson wrote dismissively,
"few economists regard Federal Reserve monetary policy as a panacea
for controlling the business cycle.'' But in the 1967 edition, he
wrote that monetary policy had "an important influence'' on total
spending. In the 1985 edition, Samuelson and co-author William Nordaus
(of Yale) would write, "Money is the most powerful and useful tool
that macroeconomic policymakers have,'' and the Fed "is the most
important factor'' in making policy.
Full article at
http://online.wsj.com/article/SB10001424052748704869304574595823818190240.html
--
Yisroel "Godwrestler Warriorson" Markov - Boston, MA Member
www.reason.com -- for a sober analysis of the world DNRC
--------------------------------------------------------------------
"Judge, and be prepared to be judged" -- Ayn Rand
Arthur Kamlet
Abe Kohen <abek...@gmail.com> wrote:
>
>"Arthur Kamlet" <kam...@panix.com> wrote in message
>news:hgcc25$f2c$1...@reader1.panix.com...
>> In article <hgcbbk$apn$1...@harrier.steinthal.us>,
>> Abe Kohen <abek...@gmail.com> wrote:
>>>As many of you know the great economist Paul Samuelson (Larry Summers'
>>>uncle) passed away this Sunday.
>>>
>>>The most amazing things about that amazing man:
>>>
>>>2. Possibly the first of many Jewish economists to win the Nobel Prize in
>>>1970.
>>
>>
>> The first American and the second person to win the Nobel in Economics.
>
>He was the winner of the SECOND Nobel Prize in Economics, but he was the
>THIRD person to win the Economics prize. In 1969 it was awarded to both
>Ragnar Frisch and Jan Tinbergen.
Yes. Thanks for the correction.
Harry Weiss
> Happy Hanuka,
> Abe
When I went to school our text was Samuelson. I may still have that
ancient edition lying around.
--
Harry J. Weiss
hjw...@panix.com