What I thought about the conference: In my opinion I felt that the most important theory presented was Keynesian economic theory (I'm not being bias here I actually think its the most important theory in our present time, please believe me!!!) as it holds significance in today's economy considering the 2008 economic crash. This crash proved many aspects of Keynesian economics for example market irrationality. Keynes economic theories can possible solve today's economic issues and in the case of the debate answer the questions posed. Though I feel the greatest economist was Adam smith as he was the very first person to set the basis of economics and to define the basics of how economics works. It is hard to improve the basis of economics but its even more difficult to create the entire foundations of it.
Paul Samuelson:
Born may 15 1915 and died December 13 2009.
Born in Gary, Indiana in the USA
Studied in the university of Chicago and received his bachelor in arts degree and a doctor in philosophy in Harvard
As a graduate student in Harvard he studied economics under Joseph Schumpeter, Wassily Leontief, Gottfried Haberler and Alvin Hansen.
He worked in the following positions in his career:
His most famous book was called 'Foundations of Economic analysis'.
He won the Nobel memorial prize for economic science.
Paul Samuelson was one of the founders of neo-Keynesian economics. This is a combination of Keynesian economics and neo-classical economics. It combines both the behavioral aspects of Keynesian economics and the mathematical aspects of neo-classical as well as changing several aspects of Keynesian economics.
Born may 15 1915 and died December 13 2009.
Born in Gary, Indiana in the USA
Studied in the university of Chicago and received his bachelor in arts degree and a doctor in philosophy in Harvard
As a graduate student in Harvard he studied economics under Joseph Schumpeter, Wassily Leontief, Gottfried Haberler and Alvin Hansen.
He worked in the following positions in his career:
- Assistant Professor of Economics at M.I.T, 1940, Associate Professor, 1944.
- Member of the Radiation Laboratory 1944–1945.
- Professor of International Economic Relations (part-time) at the Fletcher School of Law and Diplomacy in 1945.
- Guggenheim Fellowship from 1948 to 1949
- Professor of Economics at MIT beginning in 1947 and Institute Professor beginning in 1962.
- Vernon F. Taylor Visiting Distinguished Professor at Trinity University (Texas) in Spring 1989.
His most famous book was called 'Foundations of Economic analysis'.
He won the Nobel memorial prize for economic science.
Paul Samuelson was one of the founders of neo-Keynesian economics. This is a combination of Keynesian economics and neo-classical economics. It combines both the behavioral aspects of Keynesian economics and the mathematical aspects of neo-classical as well as changing several aspects of Keynesian economics.