This book presents the scientific works of Paul Samuelson, the leading neoclassical economist, which would attract research and study in the 21st century. The subject matter includes his ‘...scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science’, as identified by the Nobel Laureate Committee which conferred upon him the Nobel Prize in 1970. This book illustrates how Samuelson contributed to broad economic frameworks of the neoclassical synthesis, a mixed-economy, and the surrogate producti ... More

This book presents the scientific works of Paul Samuelson, the leading neoclassical economist, which would attract research and study in the 21st century. The subject matter includes his ‘...scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science’, as identified by the Nobel Laureate Committee which conferred upon him the Nobel Prize in 1970. This book illustrates how Samuelson contributed to broad economic frameworks of the neoclassical synthesis, a mixed-economy, and the surrogate production function, which will continue to provide practitioners with a vision for research. The areas that have already stood up to scientific tests include: the factor price equalization theorem in trade, which will encounter tough economic problems ahead; examples of intergenerational problems; and areas which espouse the fundamentals of economic science, such as stability of equilibrium issues. The contents of this collection spreads over twenty-one chapters, covering a wide range of topics, including general equilibrium, finance, trade, Keynesian economics, and other sub-disciplines, which are pulled together in the introduction from a methodological point of view.