Word: samuelson
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Some professors date Harvard and MIT's rivalry in economics back to an unmistakable controversy in the early '40s when Paul Samuelson, then a graduate student at Harvard, was passed over for a faculty appointment at the University. At the time, widespread reports attributed Harvard's failure to hire Samuelson to anti-Semitism...
...Samuelson accepted an offer from MIT's young, unspectacular department, and proceeded to dominate the field of economics as few other scholars have in the century. Almost single-dedly, he attracted a long string of outstanding graduate students and faculty members to MIT, most notably Robert Solow...
...would amount to writing into the Constitution a hotly disputed economic theory, one that posits budget deficits as the root of all fiscal evil. Asserts Political Scientist Norman Ornstein of Catholic University: "The Constitution is not supposed to make economic policy." Some 80 economists, led by Nobel Laureate Paul Samuelson, have signed an open letter to members of Congress contending that the amendment would rob the Government of needed flexibility in adjusting spending and tax plans. There are doubts also about whether the amendment could be enforced...
...most important criterion in scholarship runs the risk of discouraging unorthodox innovation. Eminent professors, after all, in many cases gained their reputations by breaking away from the eminent scholars of their youth. The list of current luminaries whom Harvard once rejected for tenure includes Nobel-laureate Paul Samuelson, now an MIT economist and the popular astronomer Carl Sagan, currently at Cornell...
...Federal Reserve Board in general, and Paul A. volcker, its chairman, see the Federal Reserve as the only anti-inflation game in town," Samuelson said...