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Title: Paul Samuelson and the Foundations of Modern Economics by Paul Samuelson, K. Puttaswamaiah ISBN: 0-7658-0114-0 Publisher: Transaction Publishers Pub. Date: 01 January, 2002 Format: Hardcover Volumes: 1 List Price(USD): $39.95

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Average Customer Rating: 1 (1 review)

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Summary: Be wary of overly educated intellectuals.
Comment: By that, I mean people who have spent their entire life in academia, without setting foot in the real world. Point in fact, this quote from Mr. Paul Samuelson: "What counts is results, and there can be no doubt that the Soviet planning system has been a powerful engine for economic growth.... The Soviet model has surely demonstrated that a command economy is capable of mobilizing resources for rapid growth." That was in 1985, just a few short years before that "powerful" engine collapsed, bankrupt and faltering for decades. Where was Paul? With his nose in a book, without a clue. For some reason, these people receive Nobel prizes, even when they couldn't be more wrong. Then, they teach our youth. Sad.