Paul Samuelson vs. Joseph Schumpeter
Side-by-side comparison of two thinkers
Paul Samuelson
1915 – 2009
Paul Anthony Samuelson was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".
"What then is it that, since 2007, has caused Wall Street capitalism's own suicide? At the bottom of this worst financial mess in a century is this: Milton Fried…"
Joseph Schumpeter
1883 – 1950
Joseph Alois Schumpeter was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship.
"Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psych…"
Connections
Both wrote about: