MEMORIALIZING PAUL A. SAMUELSON: A REVIEW OF HIS MAJOR WORKS, 1915-2009
This essay reviews the contributions of Paul A. Samuelson, specifically the Neoclassical Synthesis in Macroeconomics, the Factor Price Equalization Theory in Trade, the Surrogate Function in Capital Theory, and the Revealed Preference Theory in Microeconomics. Also covered are the Overlapping Genera...
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Published in | The American Economist (New York, N.Y. 1960) Vol. 55; no. 2; pp. 67 - 82 |
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Main Authors | , |
Format | Journal Article |
Language | English |
Published |
Los Angeles, CA
Omicron Delta Epsilon
22.09.2010
SAGE Publications Sage Publications, Inc SAGE PUBLICATIONS, INC |
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Abstract | This essay reviews the contributions of Paul A. Samuelson, specifically the Neoclassical Synthesis in Macroeconomics, the Factor Price Equalization Theory in Trade, the Surrogate Function in Capital Theory, and the Revealed Preference Theory in Microeconomics. Also covered are the Overlapping Generation Model, the idea of the mixed economy, and operationalism in Economic Methodology. No one will doubt that from the touch of his hand, economics has become highly transparent and knowledge elevated. The future generation of economists will take pride and delight in immersing themselves in Samuelson's works. |
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AbstractList | This essay reviews the contributions of Paul A. Samuelson, specifically the Neoclassical Synthesis in Macroeconomics, the Factor Price Equalization Theory in Trade, the Surrogate Function in Capital Theory, and the Revealed Preference Theory in Microeconomics. Also covered are the Overlapping Generation Model, the idea of the mixed economy, and operationalism in Economic Methodology. No one will doubt that from the touch of his hand, economics has become highly transparent and knowledge elevated. The future generation of economists will take pride and delight in immersing themselves in Samuelson's works. This essay reviews the contributions of Paul A. Samuelson, specifically the Neoclassical Synthesis in Macroeconomics, the Factor Price Equalization Theory in Trade, the Surrogate Function in Capital Theory, and the Revealed Preference Theory in Microeconomics. Also covered are the Overlapping Generation Model, the idea of the mixed economy, and operationalism in Economic Methodology. No one will doubt that from the touch of his hand, economics has become highly transparent and knowledge elevated. The future generation of economists will take pride and delight in immersing themselves in Samuelson's works. [PUBLICATION ABSTRACT] This essay reviews the contributions of Paul A. Samuelson, specifically the Neoclassical Synthesis in Macroeconomics, the Factor Price Equalization Theory in Trade, the Surrogate Function in Capital Theory, and the Revealed Preference Theory in Microeconomics. Also covered are the Overlapping Generation Model, the idea of the mixed economy, and operationalism in Economic Methodology. No one will doubt that from the touch of his hand, economics has become highly transparent and knowledge elevated. The future generation of economists will take pride and delight in immersing themselves in Samuelson's works. Keywords: Neoclassical synthesis, Surrogate production function, Factor price equalization, Overlapping generation, Mixed economy, Operationalism, Revealed preference |
Audience | Academic |
Author | Ramrattan, Lall Szenberg, Michael |
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Cites_doi | 10.2307/133680 10.1093/acprof:oso/9780199298839.003.0007 10.1093/acprof:oso/9780199298839.003.0011 10.2307/2525534 10.1007/978-1-349-08452-4_1 10.2307/1054930 10.1108/03068290510587042 10.2307/2229853 10.1093/acprof:oso/9780199298839.001.0001 10.1016/S1573-4404(05)80004-8 10.1007/978-94-017-6408-7 10.2307/2224098 10.1093/acprof:oso/9780199298839.003.0002 10.1017/CCOL0521265142 10.1016/B978-0-12-298750-2.50022-8 10.1137/0510101 10.1086/450266 10.2307/2296729 |
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Keywords | Mixed economy Neoclassical synthesis Factor price equalization Operationalism Revealed preference Overlapping generation Surrogate production function |
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References | Nell 1967; 16 Walras, Kelley 1926 Garegnani 1970; 37 Ramsey 1928; 38 Szenberg, Ramrattan, Gottesman 2006 Ferguson 1962; 29 Lerner, Lerner 1953 Robinson 1971; 81 McKenzie; 8 Mas-Collel 1979a; 10 Robinson 1970; 3 Szenberg, Ramrattan, Gottesman; 32 Takayama Akira (bibr45-056943451005500208) 1972 Samuelson Paul A. (bibr32-056943451005500208) 1986; 3 Burmeister E. (bibr3-056943451005500208) 1970 bibr19-056943451005500208 McKenzie (bibr20-056943451005500208) 1960 Ferguson C. E. (bibr6-056943451005500208) 1975 bibr25-056943451005500208 Hildenbrand Werner (bibr13-056943451005500208) 1974 bibr21-056943451005500208 bibr29-056943451005500208 Samuelson Paul A. (bibr38-056943451005500208) 1995 Szenberg Michael (bibr43-056943451005500208) 2006 Samuelson Paul A. (bibr31-056943451005500208) 1966; 1 bibr8-056943451005500208 bibr5-056943451005500208 bibr10-056943451005500208 Findlay Ronald (bibr7-056943451005500208) 1995 Samuelson Paul A. (bibr34-056943451005500208) 1986; 5 Szenberg Michael (bibr41-056943451005500208) 2006 Szenberg Michael (bibr42-056943451005500208) 2005 Samuelson Paul A. (bibr37-056943451005500208) 1980 Hicks John (bibr12-056943451005500208) 1983 bibr15-056943451005500208 bibr14-056943451005500208 bibr16-056943451005500208 Lerner Abba (bibr23-056943451005500208) 1953 bibr17-056943451005500208 bibr18-056943451005500208 Pearce I. F. (bibr27-056943451005500208) 1970 Samuelson Paul A. (bibr35-056943451005500208) 1947; 80 Dorfman Robert (bibr4-056943451005500208) 1958 bibr26-056943451005500208 bibr24-056943451005500208 bibr28-056943451005500208 bibr30-056943451005500208 Samuelson Paul A. (bibr33-056943451005500208) 1986; 4 Morishima Michio (bibr22-056943451005500208) 1964 bibr36-056943451005500208 Wicksell Knut (bibr49-056943451005500208) 1996 Hayek F. A. (bibr11-056943451005500208) 1992; 4 bibr39-056943451005500208 Wicksell Knut (bibr48-056943451005500208) 1911 Bhagwati Jagdish (bibr2-056943451005500208) 1983 Gale David (bibr9-056943451005500208) 1968; 1965 Arrow Kenneth J. (bibr1-056943451005500208) 1971 bibr46-056943451005500208 bibr44-056943451005500208 Walras Leon (bibr47-056943451005500208) 1926 bibr40-056943451005500208 |
References_xml | – volume: 29 start-page: 96 issue: 2 year: 1962 end-page: 102 article-title: Transformation Curve in Production Theory: A Pedagogical Note publication-title: Southern Economic Journal contributor: fullname: Ferguson – volume: 38 start-page: 543 issue: 152 year: 1928 end-page: 559 article-title: A Mathematical Theory of Saving publication-title: The Economic Journal contributor: fullname: Ramsey – volume: 3 start-page: 309 issue: 2 year: 1970 end-page: 317 article-title: Capital Theory up to Date publication-title: The Canadian Journal of Economics contributor: fullname: Robinson – volume: 16 start-page: 15 year: 1967 end-page: 26 article-title: Theories of Growth and Theories of Value publication-title: Economic Development and Cultural Change contributor: fullname: Nell – volume: 32 start-page: 325 issue: 4 end-page: 338 article-title: Paul A. Samuelson: Philosopher and Theorist publication-title: International Journal of Social Economics contributor: fullname: Gottesman – start-page: 67 year: 1953 end-page: 84 article-title: Factor Prices and International Trade publication-title: Essays in Economic Analysis contributor: fullname: Lerner – volume: 37 start-page: 407 year: 1970 end-page: 436 article-title: Heterogeneous Capital, the Production function and the Theory of Distribution publication-title: Review of Economic Studies contributor: fullname: Garegnani – volume: 81 start-page: 597 issue: 323 year: 1971 end-page: 602 article-title: The Measure of Capital: The End of the Controversy publication-title: The Economic Journal contributor: fullname: Robinson – volume: 8 start-page: 271 issue: 3 end-page: 278 article-title: The Inversion of Cost Functions: A Counter-Example publication-title: International Economic Review contributor: fullname: McKenzie – year: 1926 publication-title: Elements of Pure Economics, trans. William l Jaffe contributor: fullname: Kelley – volume: 10 start-page: 1105 issue: 6 year: 1979a end-page: 1109 article-title: Homeomorphism of Compact, Convex Sets and the Jacobian Matrix publication-title: Siam Journal of Math. Anal. contributor: fullname: Mas-Collel – year: 2006 publication-title: Ten Ways to Know Paul Samuel-son, in Economics of Education Review contributor: fullname: Gottesman – volume-title: Equilibrium, Stability and Growth: A Multi-Sectoral Analysis year: 1964 ident: bibr22-056943451005500208 contributor: fullname: Morishima Michio – volume-title: Lectures on Political Economy year: 1911 ident: bibr48-056943451005500208 contributor: fullname: Wicksell Knut – volume-title: Core and Equilibria of A Large Economy year: 1974 ident: bibr13-056943451005500208 contributor: fullname: Hildenbrand Werner – ident: bibr30-056943451005500208 doi: 10.2307/133680 – ident: bibr46-056943451005500208 doi: 10.1093/acprof:oso/9780199298839.003.0007 – ident: bibr26-056943451005500208 doi: 10.1093/acprof:oso/9780199298839.003.0011 – ident: bibr21-056943451005500208 doi: 10.2307/2525534 – ident: bibr36-056943451005500208 – year: 2006 ident: bibr43-056943451005500208 publication-title: Ten Ways to Know Paul Samuel-son, in Economics of Education Review contributor: fullname: Szenberg Michael – volume: 1965 start-page: 68 volume-title: Mathematische Annalen year: 1968 ident: bibr9-056943451005500208 contributor: fullname: Gale David – volume-title: International Trade: An Approach to the Theory year: 1972 ident: bibr45-056943451005500208 contributor: fullname: Takayama Akira – volume-title: On Being an Economist year: 2005 ident: bibr42-056943451005500208 contributor: fullname: Szenberg Michael – ident: bibr15-056943451005500208 doi: 10.1007/978-1-349-08452-4_1 – ident: bibr5-056943451005500208 doi: 10.2307/1054930 – ident: bibr44-056943451005500208 doi: 10.1108/03068290510587042 – start-page: 102 volume-title: in The Correspondence of Alfred Marshall, Volume Three: Towards the Close, 1903– 1924 year: 1996 ident: bibr49-056943451005500208 contributor: fullname: Wicksell Knut – volume: 3 volume-title: The Collected Scientific Papers of Samuelson year: 1986 ident: bibr32-056943451005500208 contributor: fullname: Samuelson Paul A. – ident: bibr29-056943451005500208 doi: 10.2307/2229853 – volume-title: Dictionary of American Economists year: 2006 ident: bibr41-056943451005500208 contributor: fullname: Szenberg Michael – volume: 1 volume-title: The Collected Scientific Papers of Samuelson year: 1966 ident: bibr31-056943451005500208 contributor: fullname: Samuelson Paul A. – start-page: 67 year: 1953 ident: bibr23-056943451005500208 publication-title: Essays in Economic Analysis contributor: fullname: Lerner Abba – ident: bibr40-056943451005500208 doi: 10.1093/acprof:oso/9780199298839.001.0001 – volume-title: Factor Proportions, Trade, and Growth year: 1995 ident: bibr7-056943451005500208 contributor: fullname: Findlay Ronald – volume: 4 volume-title: Collected Works year: 1992 ident: bibr11-056943451005500208 contributor: fullname: Hayek F. A. – ident: bibr14-056943451005500208 doi: 10.1016/S1573-4404(05)80004-8 – volume: 5 volume-title: The Collected Scientific Papers of Samuelson year: 1986 ident: bibr34-056943451005500208 contributor: fullname: Samuelson Paul A. – volume: 80 volume-title: Harvard Economic Studies year: 1947 ident: bibr35-056943451005500208 contributor: fullname: Samuelson Paul A. – volume-title: Essays in International Economic Theory: The Theory of Commercial Policy year: 1983 ident: bibr2-056943451005500208 contributor: fullname: Bhagwati Jagdish – ident: bibr8-056943451005500208 doi: 10.1007/978-94-017-6408-7 – ident: bibr28-056943451005500208 doi: 10.2307/2224098 – ident: bibr39-056943451005500208 doi: 10.1093/acprof:oso/9780199298839.003.0002 – volume-title: General Competitive Analysis year: 1971 ident: bibr1-056943451005500208 contributor: fullname: Arrow Kenneth J. – ident: bibr16-056943451005500208 – volume: 4 volume-title: The Collected Scientific Papers of Samuelson year: 1986 ident: bibr33-056943451005500208 contributor: fullname: Samuelson Paul A. – volume-title: The Neoclassical Theory of Production and Distribution year: 1975 ident: bibr6-056943451005500208 contributor: fullname: Ferguson C. E. – start-page: 47 volume-title: Mathematical Methods in the Social Sciences year: 1960 ident: bibr20-056943451005500208 contributor: fullname: McKenzie – volume-title: Economics year: 1980 ident: bibr37-056943451005500208 contributor: fullname: Samuelson Paul A. – year: 1926 ident: bibr47-056943451005500208 publication-title: Elements of Pure Economics, trans. William l Jaffe contributor: fullname: Walras Leon – volume-title: Economics year: 1995 ident: bibr38-056943451005500208 contributor: fullname: Samuelson Paul A. – volume-title: International Trade: A Survey of Principles and Problems of the International Economy year: 1970 ident: bibr27-056943451005500208 contributor: fullname: Pearce I. F. – ident: bibr17-056943451005500208 doi: 10.1017/CCOL0521265142 – volume-title: Linear Programming and Economic Analysis year: 1958 ident: bibr4-056943451005500208 contributor: fullname: Dorfman Robert – ident: bibr19-056943451005500208 doi: 10.1016/B978-0-12-298750-2.50022-8 – ident: bibr18-056943451005500208 doi: 10.1137/0510101 – ident: bibr24-056943451005500208 doi: 10.1016/B978-0-12-298750-2.50022-8 – volume-title: Collected Essays on Economic Theory: Classics and Moderns year: 1983 ident: bibr12-056943451005500208 contributor: fullname: Hicks John – volume-title: Mathematical Theories of Economic Growth year: 1970 ident: bibr3-056943451005500208 contributor: fullname: Burmeister E. – ident: bibr25-056943451005500208 doi: 10.1086/450266 – ident: bibr10-056943451005500208 doi: 10.2307/2296729 |
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SubjectTerms | Biographies Book publishing Capital goods Consumption Correspondence Deaths Discount rates Economic analysis Economic theory Economists Equilibrium Factor prices Free trade GNP Gross National Product Income distribution International economic relations Jacobians Keynesianism Macroeconomics Monopolistic competition Population Production capital Production functions Samuelson, Paul A Solow, Robert M |
Title | MEMORIALIZING PAUL A. SAMUELSON: A REVIEW OF HIS MAJOR WORKS, 1915-2009 |
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