Paul A. Samuelson: Nobel Prize
in Economics Recipient-1970
by Seymour “Sy” Brody
Paul A. Samuelson was an American Jewish recipient of the Nobel Prize in Economics, in 1970, “for the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science.”
He was born in 1915 in Gary, Indiana. The family were orthodox Jews and his father was a pharmacist. His family moved to Chicago in 1923 and he went through the Chicago public school system. He then entered the University of Chicago where he received his B.A. degree in 1935, and his Master of Arts degree in 1936. He then went to Harvard University and received his Ph.D. in 1941.
From 1935 to 1937, Samuelson was a Social Science Research Council predoctoral fellow. He was a member of the Society of Fellows, Harvard University 1937-1940. , He was a Ford Foundation Research Fellow 1958-1959.
Samuelson received honorary Doctor of Law degrees from Chicago University and Oberlin College in 1961. He received honorary Doctor of Law degrees from Indiana University and East Anglia University (England), 1966.
He was the coauthor of many books, which included Reading in Economics, 1955. The Rand Corporation gave Samuelson a grant in collaboration with Robert Dorfman and Robert Solow to write a book, Linear Programming and Economic Analysis. During his life, wrote hundreds of articles in journals and magazines.
In 1940, he joined the faculty of MIT as an Assistant Professor of Economic.
In 1944, he was appointed as an Associate Professor. Paul Samuelson became a Professor in 1947.
During the years, he was a consultant in industry, government and in education. He furnished reports on the American economy to many presidents.
Paul A. Samuelson has been active in many honorary and professional organizations:
● A Member of the American Academy of Arts and Sciences
● A Fellow of the American Philosophical Society
● A fellow of the British Academy
● He is a member and past President of the American Economic Association
● He is a member of the editorial board and past President (1961) of the American Economic Association
● A member and past President (1951) of the Econometric Society
● He is a fellow, member, council member and a past vice-president of the Economic Society.
● He is a member of Phi Beta Kappa.
Paul A. Samuelson is married and they have six children, one birth was a triplet of sons.
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