Paul SamuelsonThinkers

Classical fallacy is on our radar. Try again later or consider contributing!

The Consumer is so it is said, the king. Each is a voter who uses his money as votes to get the things done that he wants done.

Jointness of demand is on our radar. Try again later or consider contributing!

Karl Marx is, from the viewpoint of pure economic theory, a minor post-Ricardian.

Karl Marx is a very bad economist of his times, not realizing how much real wages in Western Europe had been raised by new techniques and equipment.

A Market system is, contrary to Milton Friedman's belief, unable to regulate itself. On the contrary, there can be no solution without government.

Neoclassical synthesis is on our radar. Try again later or consider contributing!

Social security is a Ponzi scheme, but a workable one in that the perpetual succession of human generations establishes the conditions for its sustainable.

Social security is based on an overlapping-generations model which suggests it can be financed over successive generations without major tax increases.

Supply-side economics is, in fact, not about raising revenue (as it claims) but rather is actually intended to be a smokescreen for starving the government of revenues in the hope that the tax cuts would lead to a commensurate drop in government spending.