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Founder of Modern Economics: Paul A. Samuelson: Volume II: Being Samuelson, 1948–2009: Oxford Studies in the History of Economics

Autor Roger E. Backhouse
en Limba Engleză Hardback – 27 iul 2026
Paul A. Samuelson is widely regarded as the world's leading economist in the so-called “Age of Keynes”, the three decades after WWII, acknowledged by his being the first American to win the Nobel prize in economics. Foundations of Economic Analysis was a manual on how economic theory should be done, and the nineteen editions of Economics: An Introductory Analysis provided the first exposure to economics for millions of students worldwide. Volume I of this intellectual biography told the story of someone who established himself as the most promising economist of his generation. This volume shows how he went on to dominate the subject. He was well known as a mathematical economist at a time when the use of mathematics in economics was in its infancy but, as this volume shows, he was far more than that. He wrote seminal articles in field after field, including consumer behaviour, international trade, consumer, finance, public expenditure, optimal taxation, the economics of inflation and unemployment, and many others. He had the ability to use his knowledge of mathematics to simplify economic problems, providing the concepts that other economists could use and yet he could write in a style that entertained as well as informed his readers. He helped transform of his department at the Massachusetts Institute of Technology from a relative backwater into the most influential economics department in the United States, its graduates filling influential positions in academia, central banks, and the provision of economic advice to government. He was active in trading commodities and played a significant role in the establishment of index funds. An innovative feature of this biography is that it is not confined to what he called his scientific work but covers his political economy (his analysis of current events and his policy advice) in depth. From the start of his academic career, he was in demand as an economic adviser, his most prominent role being as adviser to President John Kennedy, and he was a regular columnist for newspapers and news magazines from the Financial Times to the Washington Post and Newsweek and a range of Japanese and Korean newspapers.
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Specificații

ISBN-13: 9780197812822
ISBN-10: 0197812821
Pagini: 768
Dimensiuni: 156 x 235 mm
Editura: Oxford University Press
Colecția OUP USA
Seria Oxford Studies in the History of Economics

Locul publicării:New York, United States

Notă biografică

Roger E. Backhouse is Emeritus Professor of Economics, University of Birmingham.

Recenzii

Paul Samuelson changed economics and in the process changed the economies and societies we inhabit. This important book tells his story and in the process sheds important new light on the history of our field and our times.
It has been well said that Paul A. Samuelson was the last great general economist-never again will any one person make such foundational contributions to so many distinct areas of economics. His profound theoretical contributions over nearly seven decades of published research have been ecumenical and his ramified influence on the whole of economics has led economists in just about every branch of economics to claim him as one of their own. Here we have an exploration of the role of personality and social networks in understanding the remarkable intellectual development of this singularly remarkable economist. To the reader, Bon Appetit!
America's greatest modern economist transformed economic analysis. The distinguished historian Roger Backhouse has used the newly available Samuelson archives, and much more, to construct this informative and lively intellectual biography to show just how that transformation occurred and Samuelson's role in it. This volume's scholarship will define Samuelson's contributions for a generation.
Like Harrod in his Life of Keynes, Backhouse provides us with an invaluable first full treatment of the life and work of the economist Paul Samuelson, a key transitional figure between prewar and postwar economics. Choosing as his intellectual fathers both Edwin B. Wilson and Alvin Hansen, Samuelson used his third "sacred decade" of intellectual creativity to produce two very different books, Foundations and Economics, so setting the stage for a life of work in the space between them.
Founder of Modern Economics: Paul A. Samuelson Volume 1: Becoming Samuelson, 1915-1948, is an extraordinary achievement. Master historian of thought Roger Backhouse, in producing the definitive study of the development of one of the greatest minds in the history of economics, not only enriches our understanding of the process of the evolution of social science knowledge, but provides new perspectives on the nature of economic theory. This is a wonderful book.