Paul Samuelson, U. Mary-Kate Olsen Keep an Eye on tiffany jewellery S. Top brands Crafts of links of london charms Economics, died at home in Massachusetts, the United States, on December 13th, at the age of 94-year-old.
Samuelson was the first U.S. economist who was awarded the Nobel Prize in Economics. His classic work "Economics" first published in 1948 had influenced a whole generation. That book then became the bestseller in the subsequent more than half a century, up to now, it is the 19th edition, translated into more than 40 languages ,the amount the book that sells comes up to over 400,000. Paul A. Samuelson told The Associated Press that he knew he wrote a good book, but did not think it had such a long-lasting power, in1998.
Samuelson graduated from the University of Chicago and later obtained master and doctorate degree at Harvard University, starting his teaching at MIT since 1940. In 1970, because of his outstanding contribution in the theory of economics, he won the Nobel Economics Prize. And he was also the economist, the second in the world and the first in America, to win the Nobel Economics Prize. The appraisal committee of Nobel Prize said at that time, "He contributed more than any other economist on improvement of scientific analysis of economics theory. As a matter of fact, he rewrote considerable parts of the economics theory with simple words."
As a liberal scholar, Samuelson is renowned as one of the pioneers of New Keynes. He advocated the government was proactive, in 1970, and wrote in The New York Times, in the traditional laissez-faire economic environment, prosperity is always short-lived, As for modern "composite economy", finance and monetary policy surely will avoid periodic fading and also make sure there will be more jobs.
Samuelson served as an adviser to Presidents John F. Kennedy, make the famous "Kennedy Tax Cut" in 1964. The bill was widely recognized that it laid foundation for the economic prosperity for American in the 1970s.
Tens of years of teaching in Massachusetts Institute of Technology let Samuelson have students all aroudnd the world. His death brought many feelings to his students and his old friends. "Paul Samuelson transformed everything he touched." Said MIT President Susan Hockfield. His student, the President of Federal Reserve Committee Ben Marmanke commented, Samuelson was "a trail blazer, a copious economics theorist, one of the greatest teacher had ever known."
Samuelson was born in a Jewish family, the family produced many eminent economists. His nephew Lawrence Summers once held the post of American Treasury Secretary, now he is the chief economic adviser for American President Obama, and his brother Robert, his sister Anita are both famous economists. Samuelson has six children and fifteen grandchildren.