[ Pobierz całość w formacie PDF ]
.Schwartz, Princeton,New Jersey, Princeton University Press, 1963The Balance of Payments: Free Versus Flexible Exchange Rates, with Robert V.Roosa, Washington, D.C., American Enterprise Institute, 1967 The Role of Monetary Policy, American Economic Review, 58 (1968), pp.417There s No Such Thing as a Free Lunch, Lasalle, Illinois, Open Court,1975.Reprinted and updated as Bright Promises, Dismal Performance: AnEconomist s Protest, San Diego and New York, Harcourt Brace Jova-novich, 1983 Nobel Lecture: Inflation and Unemployment, Journal of Political Economy,85 (1977), pp.451 72Free to Choose, with Rose Friedman, New York, Avon, 1980Tyranny of the Status Quo, with Rose Friedman, New York, San Diego andLondon, Harcourt Brace Jovanovich, 1984Money Mischief: Episodes in Monetary History, New York, San Diego andLondon, Harcourt Brace Jovanovich, 1992Works about FriedmanBurton, John, Positively Milton Friedman, in Twelve Contemporary Econo-mists, ed.J.R.Shackleton and G.Locksley, London, Macmillan, 1981, pp.53 69Butler, Eamonn, Milton Friedman: A Guide to His Economic Thought, NewYork, Universe Books, 1985Hirsch, Abraham and de Marchi, Neil, Milton Friedman: Economics inTheory and Practice, Ann Arbor, Michigan, University of MichiganPress, 1990Kasper, Sherryl, The Revival of Laissez-Faire in American Macroeconomic Theory,Cheltenham, UK, Edward Elgar, 2002Walters, Alan, Milton Friedman, The New Palgrave: A Dictionary of Eco-nomics, ed.J.Eatwell, M.Migate and P.Newman, New York, StocktonPress, 1987, pp.422 7242 PAUL SAMUELSON (1915 )Other referencesBoland, Lawrence A., A Critique of Friedman s Critics, Journal of EconomicLiterature, 17 (June 1979), pp.503 22Reder, Melvin W., Chicago Economics: Performance and Change, Journalof Economics Literature, 20, 1 (March 1982), pp.1 38PAUL SAMUELSON (1915 )Paul Samuelson is a paradoxical figure.More than anyone else hebears responsibility for the mathematical bent of economics in thelate twentieth century.Yet Samuelson made a name for himself, and agreat deal of money, by writing an immensely successful introductoryeconomics textbook (Samuelson 1947a).Yet again, Samuelson haswritten on virtually every area within economics.For someone somathematical, such breadth is both remarkable and unique.Samuelson was born in 1915 in Gary, Indiana; but his parents soonmoved to Chicago, so Samuelson was educated in the Chicago publicschool system.He then enrolled at the University of Chicago.Intending to major in mathematics, Samuelson took a course ineconomics and immediately recognized how mathematics couldrevolutionize economics.As a result of winning a Social Science Research Council Fellow-ship, Samuelson had his graduate education paid for; yet there was aprice to be paid.According to the fellowship rules, he could notcontinue at the University of Chicago.Samuelson chose to attendHarvard, which awarded him a PhD in 1941.His doctoral disserta-tion (Samuelson 1947b) is regarded by most economists as providingthe mathematical foundations for contemporary economics.Samuelson liked Harvard, and he wanted the school to offer him afull-time teaching position.But Harvard decided not to keep him on.Determined to stay in Cambridge, Samuelson accepted a position atthe Massachusetts Institute of Technology (MIT).He remained atMIT for his entire professional career, becoming a full professor atthe age of 32.In 1947 Samuelson received the first John Bates ClarkMedal from the American Economic Association, awarded annuallyto the most promising economist under the age of 40.During 1951he served as President of the Econometric Society, and during 1961he served as President of the American Economic Association.In1970 Samuelson was awarded the Nobel Prize for Economics.In all his professional work, Samuelson sought to provide mathe-matical underpinning for economic ideas, believing that economic243 PAUL SAMUELSON (1915 )theory without formalization was unsystematic and unclear.UnlikeMarshall, who felt that converting prose into mathematical equationswas a waste of time, Samuelson (1947b, p.6) held the reverse to betrue converting mathematical equations into prose was wasteful.Mathematical formalism for Samuelson clarified the nature of modelsand arguments, and established the validity of economic theories.Through the influence of Samuelson (1947b, 1987), economicinstruction at the graduate level has increasingly come to employ thetools and techniques of linear algebra plus differential and integralcalculus, and communication among economists has becomeincreasingly mathematical.Yet Samuelson has not supported rigor for the sake of rigor, orformalism for the sake of formalism.Rather, he has looked atmathematics as a tool.Mathematics illuminates arguments and proveseconomic theorems that can be empirically tested.Concern with the relevance and testability of economic theoriesunderlay the methodological dispute between Samuelson and MiltonFriedman in the post-war years.Friedman (1953) had argued that thetruth of economic assumptions was unimportant; the only thing thatmattered was whether the predictions made by these assumptionswere correct [ Pobierz całość w formacie PDF ]
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.Schwartz, Princeton,New Jersey, Princeton University Press, 1963The Balance of Payments: Free Versus Flexible Exchange Rates, with Robert V.Roosa, Washington, D.C., American Enterprise Institute, 1967 The Role of Monetary Policy, American Economic Review, 58 (1968), pp.417There s No Such Thing as a Free Lunch, Lasalle, Illinois, Open Court,1975.Reprinted and updated as Bright Promises, Dismal Performance: AnEconomist s Protest, San Diego and New York, Harcourt Brace Jova-novich, 1983 Nobel Lecture: Inflation and Unemployment, Journal of Political Economy,85 (1977), pp.451 72Free to Choose, with Rose Friedman, New York, Avon, 1980Tyranny of the Status Quo, with Rose Friedman, New York, San Diego andLondon, Harcourt Brace Jovanovich, 1984Money Mischief: Episodes in Monetary History, New York, San Diego andLondon, Harcourt Brace Jovanovich, 1992Works about FriedmanBurton, John, Positively Milton Friedman, in Twelve Contemporary Econo-mists, ed.J.R.Shackleton and G.Locksley, London, Macmillan, 1981, pp.53 69Butler, Eamonn, Milton Friedman: A Guide to His Economic Thought, NewYork, Universe Books, 1985Hirsch, Abraham and de Marchi, Neil, Milton Friedman: Economics inTheory and Practice, Ann Arbor, Michigan, University of MichiganPress, 1990Kasper, Sherryl, The Revival of Laissez-Faire in American Macroeconomic Theory,Cheltenham, UK, Edward Elgar, 2002Walters, Alan, Milton Friedman, The New Palgrave: A Dictionary of Eco-nomics, ed.J.Eatwell, M.Migate and P.Newman, New York, StocktonPress, 1987, pp.422 7242 PAUL SAMUELSON (1915 )Other referencesBoland, Lawrence A., A Critique of Friedman s Critics, Journal of EconomicLiterature, 17 (June 1979), pp.503 22Reder, Melvin W., Chicago Economics: Performance and Change, Journalof Economics Literature, 20, 1 (March 1982), pp.1 38PAUL SAMUELSON (1915 )Paul Samuelson is a paradoxical figure.More than anyone else hebears responsibility for the mathematical bent of economics in thelate twentieth century.Yet Samuelson made a name for himself, and agreat deal of money, by writing an immensely successful introductoryeconomics textbook (Samuelson 1947a).Yet again, Samuelson haswritten on virtually every area within economics.For someone somathematical, such breadth is both remarkable and unique.Samuelson was born in 1915 in Gary, Indiana; but his parents soonmoved to Chicago, so Samuelson was educated in the Chicago publicschool system.He then enrolled at the University of Chicago.Intending to major in mathematics, Samuelson took a course ineconomics and immediately recognized how mathematics couldrevolutionize economics.As a result of winning a Social Science Research Council Fellow-ship, Samuelson had his graduate education paid for; yet there was aprice to be paid.According to the fellowship rules, he could notcontinue at the University of Chicago.Samuelson chose to attendHarvard, which awarded him a PhD in 1941.His doctoral disserta-tion (Samuelson 1947b) is regarded by most economists as providingthe mathematical foundations for contemporary economics.Samuelson liked Harvard, and he wanted the school to offer him afull-time teaching position.But Harvard decided not to keep him on.Determined to stay in Cambridge, Samuelson accepted a position atthe Massachusetts Institute of Technology (MIT).He remained atMIT for his entire professional career, becoming a full professor atthe age of 32.In 1947 Samuelson received the first John Bates ClarkMedal from the American Economic Association, awarded annuallyto the most promising economist under the age of 40.During 1951he served as President of the Econometric Society, and during 1961he served as President of the American Economic Association.In1970 Samuelson was awarded the Nobel Prize for Economics.In all his professional work, Samuelson sought to provide mathe-matical underpinning for economic ideas, believing that economic243 PAUL SAMUELSON (1915 )theory without formalization was unsystematic and unclear.UnlikeMarshall, who felt that converting prose into mathematical equationswas a waste of time, Samuelson (1947b, p.6) held the reverse to betrue converting mathematical equations into prose was wasteful.Mathematical formalism for Samuelson clarified the nature of modelsand arguments, and established the validity of economic theories.Through the influence of Samuelson (1947b, 1987), economicinstruction at the graduate level has increasingly come to employ thetools and techniques of linear algebra plus differential and integralcalculus, and communication among economists has becomeincreasingly mathematical.Yet Samuelson has not supported rigor for the sake of rigor, orformalism for the sake of formalism.Rather, he has looked atmathematics as a tool.Mathematics illuminates arguments and proveseconomic theorems that can be empirically tested.Concern with the relevance and testability of economic theoriesunderlay the methodological dispute between Samuelson and MiltonFriedman in the post-war years.Friedman (1953) had argued that thetruth of economic assumptions was unimportant; the only thing thatmattered was whether the predictions made by these assumptionswere correct [ Pobierz całość w formacie PDF ]