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Samuelsonian Economics and the Twenty-First Century$
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Michael Szenberg, Lall Ramrattan, and Aron A. Gottesman

Print publication date: 2006

Print ISBN-13: 9780199298839

Published to Oxford Scholarship Online: January 2009

DOI: 10.1093/acprof:oso/9780199298839.001.0001

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Introduction: The Significance of Paul A. Samuelson in the Twenty-First Century

Introduction: The Significance of Paul A. Samuelson in the Twenty-First Century

Chapter:
(p.1) Introduction: The Significance of Paul A. Samuelson in the Twenty-First Century
Source:
Samuelsonian Economics and the Twenty-First Century
Author(s):

Michael Szenberg (Contributor Webpage)

Lall Ramrattan

Aron A. Gottesman

Kenneth J. Arrow (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199298839.003.0001

This introductory chapter looks at the various ways in which Paul Samuelson was appraised by the contributors. The features that stand out bear close correspondence with scientific, mathematical techniques, and the genius of a craftsman. Paradigm, scientific research program, anthology, and epistemological viewpoints can be read into the program. Samuelson is renowned as one who puts heavy weight on reality in his mathematical models, exhibiting great regards for facts. He has been presented as a leader in the neoclassical framework, building models that share constant assumptions, dependent and independent variables with various laws that put the models into motion. The area of international trade is a solid example of the fruits of his research, where the theory of factor price equalization and the Stolper–Samuelson Theorem are now textbook paradigms. The Cambridge Controversy on the theory of capital came alive through Samuelson's surrogate production function. Samuelson is also responsible for introducing Keynes to the practitioners of economics through his neoclassical synthesis.

Keywords:   paradigm, research program, appraisal, craftsman, operationalism, factor price equilibrium, Stolper–Samuelson Theorem, Cambridge Controversy

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