Monday, December 14, 2009

Paul Samuelson Dies

Mr. Samuelson, the first American to win the Nobel Prize in economics and the author of a ubiquitous college textbook, was "one of the greatest teachers that economics has ever known" and "a titan of economics," said Federal Reserve Chairman Ben Bernanke, a former student of Mr. Samuelson's at the Massachusetts Institute of Technology...

In 1970, Mr. Samuelson was the first American to win the Nobel Prize in economics, the second year the prize was offered. "Samuelson's contribution has been that, more than any other contemporary economist, he has contributed to raising the general analytical and methodological level in economic science," wrote the Nobel prize committee. "He has in fact simply rewritten considerable parts of economic theory."

from the Wall Street Journal

Samuelson was fully aware of his world-wide influence. He declared that "I don't care who writes a nation's laws -- or crafts its advanced treatises -- if I can write its economics textbooks".

In his textbook he praised central planning and predicted the future higher standard of living in the communist world...

Unfortunately for all of us, almost everything that this truly gifted and talented man said, wrote and believed in resulted in less freedom, bigger government and widespread poverty here and around the world.

Requiem for Samuelson

An evil man who should be remembered along with Stalin and Hitler. May he be rotting in Hell now.

S.M. Olivia

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