I can't think of a president who has been overburdened by a knowledge of economics.
Paul SamuelsonRead
To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order.
Interpretation
What this quote means
Understanding mathematics can unlock tremendous opportunities in the field of economics.
In this quote, Paul Samuelson emphasizes the importance of analytical thinking and mathematical prowess in the realm of economics. He suggests that for individuals who possess these skills, the study of economics in 1935 offered abundant opportunities as it was rich with theoretical concepts waiting to be explored and organized.
Themes
EconomicsMathematicsTheoremsAnalysisOpportunity
In practice
Example use cases
A university lecturer could use this quote to inspire students in an economics class.
More from Paul Samuelson
All quotes →My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words.
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Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.
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My family was well off but not rich. I spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble. That was a disequilibrium system. I realized that the ordinary old-fashioned Euclidean geometry didn't apply.
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Economics has never been a science - and it is even less now than a few years ago.
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There's nothing in Keynesian economics that would allow you to solve stagflation. But there's nothing in neoclassical economics that would allow you to solve stagflation, either.
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