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Samuelson's textbook has delivered a great deal of economic wisdom. For many economists, the positive side of the balance sheet has outweighed the negative. Indeed, his defenders might ask: Might the United States and the West have suffered another Great Depression if Samuelson had not emphasized the need for "automatic stabilizers"? Did not Samuelson's heralding of the "mixed" economy curb the appetite of third world countries for national socialism?
We will never know, of course, but it is humbling to speculate on whether alterations in principles textbooks might have led to a different U.S. economy.
Mark Skousen
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The triumph of persuasion over force is the sign of a civilized society.
Mark Skousen
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The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.
Mark Skousen
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The profit motive promotes economic growth by creating better products at cheaper prices.
Mark Skousen
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Mark Skousen
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Born:
1947
(age 78)
Bio:
Mark Andrew Skousen is an American economist, investment analyst, newsletter editor, college professor and author.
Known for:
The Making of Modern Economics (2001)
Investing in One Lesson (2007)
The Big Three in Economics (2006)
The structure of production (1990)
Economic logic (2000)
Mark Skousen on Wikipedia
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