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    paul samuelson Quotes

    I'm not sure most of the people that get caught up in the middle of a bubble can be described as irrational. It seems pretty rational to buy a house and flip it in the next few weeks at a profit when that's been happening for along time.
    — Paul Samuelson
    tags: time  people 
     
    Funeral by funeral, theory advances.
    — Paul Samuelson
    Companies are not charitable enterprises: They hire workers to make profits. In the United States, this logic still works. In Europe, it hardly does.
    — Paul Samuelson
    tags: work  logic  company 
     
    An intriguing paradox of the 1990s is that it isn't called a decade of greed.
    — Paul Samuelson
    tags: greed 
     
    Economics never was a dismal science. It should be a realistic science.
    — Paul Samuelson
    tags: economics 
     
    Suppose it was demonstrated that one out of twenty alcoholics could learn to become a moderate social drinker. The experienced clinician would answer, 'Even if true, act as if it were false, for you will never identify that one in twenty, and in the attempt five in twenty will be ruined.' Investors should forsake the search for such tiny needles in huge haystacks.
    — Paul Samuelson
    tags: true  learn 
     
    The stock market has predicted nine of the last five recessions.
    — Paul Samuelson
    tags: stock 
     
    Kelsoism is not accepted by modern scientific economics as a valid and fruitful analysis of the distribution of income but rather it is regarded as an amateurish and cranky fad.
    — Paul Samuelson
    tags: economics 
     
    Economists have much to be humble about.
    — Paul Samuelson
    Thousands of important and intelligent men have never been able to grasp the principle of comparative advantage or believe it even after it was explained to them
    — Paul Samuelson
    tags: men  believe  advantage 
     
    Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.
    — Paul Samuelson
    You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.
    — Paul Samuelson
    tags: happiness  money 
     
    A growing nation is the greatest ponzi game ever contrived.
    — Paul Samuelson
    tags: games 
     
    There is something in people; you might even call it a little bit of a gambling instinct" I tell people investing should be dull. It shouldn't be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
    — Paul Samuelson
    tags: people  gambling 
     
    Every good cause is worth some inefficiency.
    — Paul Samuelson
    tags: worth 
     
    To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.
    — Paul Samuelson
    Investing is like waiting for paint dry and grass grow so. If you like fun, let handle 800 USD and headed to Las Vegas
    — Paul Samuelson
    tags: fun 
     
    Macroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.
    — Paul Samuelson
    tags: computer 
     
    What we know about the global financial crisis is that we don't know very much.
    — Paul Samuelson
    tags: financial 
     
    I don't care who writes a nation's laws - or crafts its advanced treaties - if I can write its economics textbooks.
    — Paul Samuelson
    tags: law  care  craft  write  economics 
     
    Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.
    — Paul Samuelson
    tags: people 
     
    Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
    — Paul Samuelson
    tags: stories  internet 
     
    The failure of market catallactics in no way denies the following truth: given sufficient knowledge the optimal decisions can always be found by scanning over all the attainable states of the world and selecting the one which according to the postulated ethical welfare function is best. The solution 'exists'; the problem is how to 'find' it.
    — Paul Samuelson
    Forsake search for needles that are so very small in haystacks that are so very large.
    — Paul Samuelson
    Perhaps there really are managers who can outperform the market consistently - logic would suggest that they exist. But they are remarkably well-hidden.
    — Paul Samuelson
    tags: logic 
     
    Anyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performance Quotient) will not give away such rent to the Ford Foundation or the local bank trust department. They have too high an I.Q. for that.
    — Paul Samuelson
    tags: trust 
     
    The debate can be put in the form of the question: Resolved, that the best of money managers cannot be demonstrated to be able to deliver the goods of superior portfolio-selection performance. Any jury that reviews the evidence, and there is a great deal of relevant evidence, must at least come out with the Scottish verdict: Superior investment performance is unproved.
    — Paul Samuelson
    tags: money 
     
    You could be disqualified for a job [at Harvard] if you were either smart or Jewish or Keynesian. So what chance did this smart, Jewish, Keynesian have?
    — Paul Samuelson
    tags: chance  smart  job 
     
    Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.
    — Paul Samuelson
    An American economist of two generations ago, H. J. Davenport, who was the best friend Thorstein Veblen ever had (Veblen actually lived for a time in Davenport's coal cellar) once said: "There is no reason why theoretical economics should be a monopoly of the reactionaries." All my life I have tried to take this warning to heart, and I dare call it to your favorable attention.
    — Paul Samuelson
    We're a me-me-me generation. We're borrowing the savings of every nation in the world. We're ... piling up a big tab. Now, I may think we're too big to have a run on us. You may think that. But it's possible that God does not.
    — Paul Samuelson
    tags: world  god 
     
    I couldn't reconcile what I was being taught at the university of Chicago, the lectures and the books I was being assigned, with what I knew to be true out in the streets.
    — Paul Samuelson
    tags: true  book  university 
     
    The growth of a nation's productive potential is the central factor in determining its growth in real wages and living standards.... high rates of investment and saving usually have a big payoff in promoting economic growth.
    — Paul Samuelson
    It isn't that greed's increased. What's increased is the realization that you've got a free field to reach out for what you'd like to do.
    — Paul Samuelson
    tags: realization  greed 
     
    The consumer, so it is said, is the king each is a voter who uses his money as votes to get the things done that he wants done.
    — Paul Samuelson
    tags: money 
     
    We are like highly trained athletes, who never run a race.
    — Paul Samuelson
    tags: race 
     
    Reasonable men are not reasonable when you're in the bubbles which have characterized capitalism since the beginning of time.
    — Paul Samuelson
    tags: time  men  capitalism 
     
    It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.
    — Paul Samuelson
    What good does it do a black youth to know that an employer must pay him $2 an hour if the fact that he must be paid that amount is what keeps him from getting a job?
    — Paul Samuelson
    tags: youth  facts  black 
     
    Economics has never been a science - and it is even less now than a few years ago.
    — Paul Samuelson
    tags: economics  year 
     
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