Word: samuelson
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Dates: during 1970-1970
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...professor Paul A. Samuelson, author of a popular economics text and developer of static and dynamic economic theory, was awarded the 1970 Nobel Prize in Economics yesterday...
...announcing the $80,000 award, Sweden's Royal Academy of Science said that Samuelson, "by his many contributions, has done more than any other contemporary economist to raise the level of scientific analysis in economic theory...
...Academy added that Samuelson has also "rewritten considerable parts of central economic theory, and has in several areas achieved results which now rank among the classical theorems of economics...
...would consider this to mean the work in Foundations of Economics (1947), which dealt with static and dynamic theory- supplemented by approximately 150 papers since then," Samuelson said yesterday. "I don't think it was for my textbook...
...Inflation is slowing. M.I.T. Economist Paul Samuelson thinks that the peak of inflation was passed in the first quarter. The consumer price index in June rose at a seasonally adjusted rate of 4.8%, down from 6% in May. Economists, like housewives, are far from satisfied with that improvement. Still, the June movement looked like a trend, because it followed an earlier deceleration in wholesale price indexes. Wholesale meat prices, for example, began to drop in April, and last month beef and pork prices fell at the supermarket counter. Paul McCracken, the President's chief economist, testified that he expects...