Paul A. Samuelson

MIT economist Paul A. Samuelson, the Nobel laureate whose mathematical analysis provided the foundation on which modern economics is built and whose textbook influenced generations of students, died Dec 11, 2009 at his home in Belmont, Mass. He was 94. Please do read his ‘How I became an economist ’:

A Dissertation Viva Voce

An extract for Indian Express editorial dated 15 Dec, 2009 reads …                                                                                                                                                                                  

Paul Samuelson

With some lives, facts aren’t enough. You need  stories. Like how legendary economist Joseph Schumpeter turned to a fellow-member of a dissertation  committee examining a bright young student, and  asked: “Well, gentlemen? Did we pass?” That story isn’t about Schumpeter of course, but about the student, Paul Samuelson.

(This is exactly how we  feel at times in interview sessions when interviewing some bright young folks for the  MBA entrance)

Managerial Economics First Semester MBA

I remember vividly what a powerful influence his textbook had on all the students of my MBA class. To most of us Managerial Economics was a dry subject. But learning from Samuelson’s book made us all deeply interested in economic theory. We felt a sense of pride in owning this book. Samuelson’s textbook was the first to explain the principles of Keynesian economics to beginner economics students. It has been translated into 40 languages, and has sold nearly four million copies over a span of 60 years.

In praise of Prof. AY Joshi

In this context I would like to add special praise for our Professor AY Joshi, from the Brihan Maharashtra College of Commerce. He was our visiting faculty at the College of Military Engineering (CME) Pune. Prof. Joshi was a great source of inspiration not only for his simplicity and wisdom but he made macroeconomics sound like sheer poetry.

Thank you!

About Dilip

An open mind! Love to share my thoughts and a keenness to learn. An engineer and a MBA I had a wonderful innings in the Army and later moved to consultancy and teaching. My current interests are music and growing culinary herbs. Love to play golf and do yoga regularly. I am serious on "Living life less seriously". A warm welcome to you be well and be cheerful always.

4 responses

  1. Dilip says:

    Delighted to read your comment Nupur. Raju is an amazing person and doing great professionally.

    Regards and thanks.


  2. Nupur Jain says:

    Mr. Raju Nair.

    Whoever you be, i am in complete agreement with you.. and thanks a lot for stating what you did.
    and I also love the statement that you have put…. if an MBA understands the basics ….he will better understand the risks he is taking…

    kudos to you.
    Regards to Naidu Sir adn all the other followers of this blog.



  3. Raju Nair says:

    I have to say that Ishita Ghosh was very good at simplifying economics for us…as an MBA student macro economics is what gives us PESTEL analysis in a business report and Micro gives inputs on SWOT …if an MBA understands the basics ….he will better understand the risks he is taking…


    • dilipnaidu says:

      How nice of you to honor your tutor. Yes as a colleague I always quizzed her on many macro economics issues in our tea-breaks. And of course she was always clear and articulate in explaining issues.

      You guys were lucky to have her as your economics professor.

      Best regards!