IDEAS home Printed from https://ideas.repec.org/a/aea/jecper/v11y1997i2p137-52.html
   My bibliography  Save this article

The Perseverance of Paul Samuelson's Economics

Author

Listed:
  • Mark Skousen

Abstract

A reflection of the economics profession through Paul Samuelson's Economics. Samuelson offers an uneasy mix of laissez faire in micro and government interventionism in macro. In earlier editions, Keynesian thinking dominated, with an antisaving, progovernment bias and a need for an activist fiscal policy aimed at alleviating unpredictable chronic business cycles under private enterprise. Middle editions had chapters on the Soviet Union and China, rather than Japan and West Germany. Recently, Samuelson and coauthor William Nordhaus have gradually shifted from antithrift to prosavings policies, from deficit spending to fiscal restraint, and from fiscal policy to monetary policy as effective countercyclical tools.

Suggested Citation

  • Mark Skousen, 1997. "The Perseverance of Paul Samuelson's Economics," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 137-152, Spring.
    • Handle: RePEc:aea:jecper:v:11:y:1997:i:2:p:137-52
    Note: DOI: 10.1257/jep.11.2.137
    as

    Download full text from publisher

    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.11.2.137
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Coase, R H, 1974. "The Lighthouse in Economics," Journal of Law and Economics, University of Chicago Press, vol. 17(2), pages 357-376, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bäuerle, Lukas, 2017. "Die ökonomische Lehrbuchwissenschaft: Zum interdisziplinären Selbstverständnis der Volkswirtschaftslehre," Working Paper Series Ök-35, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    2. Saileshsingh Gunessee & Tom Lane, 2020. "Is Economics An Experimental Science? A Textbook Perspective," Discussion Papers 2020-16, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    3. repec:zbw:inwedp:632016 is not listed on IDEAS
    4. repec:zbw:inwedp:552014 is not listed on IDEAS
    5. Arye L. Hillman & Heinrich W. Ursprung, 2016. "Academic exclusion: some experiences," Public Choice, Springer, vol. 167(1), pages 1-20, April.
    6. Armstrong, J. Scott & Green, Kesten C., 2013. "Effects of corporate social responsibility and irresponsibility policies," Journal of Business Research, Elsevier, vol. 66(10), pages 1922-1927.
    7. Martin Kniepert, 2016. "What to teach, when teaching economics as a minor subject?," Working Papers 632016, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    8. Giraud, Yann, 2018. "Textbooks in the Historiography of Recent Economics," SocArXiv j9tkf, Center for Open Science.
    9. Yann Giraud, 2011. "The Political Economy of Textbook Writing: Paul Samuelson and the making of the first ten Editions of Economics (1945-1976)," THEMA Working Papers 2011-18, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    10. Green, Tom L., 2013. "Teaching (un)sustainability? University sustainability commitments and student experiences of introductory economics," Ecological Economics, Elsevier, vol. 94(C), pages 135-142.
    11. Graupe, Silja, 2014. "Ökonomische Bildung: Geistige Monokultur oder Befähigung zum eigenständigen Denken?," Working Paper Series Ök-01, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    12. Richard M. Ebeling, 2021. "Socialism-in-practice was a nightmare, not Utopia: Ludwig von Mises’s critique of central planning and the fall of the Soviet Union," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(4), pages 431-448, December.
    13. Urban, Janina & Rommel, Florian, 2020. "German economics: Its current form and content," Working Paper Series 56, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    14. Ashwani Saith, 2008. "Forum 2008," Development and Change, International Institute of Social Studies, vol. 39(6), pages 1115-1134, November.
    15. Yann Giraud, 2017. "The Contestable Marketplace of Ideas: Paul Samuelson’s Defense of Mainstream Economics through Textbook Making, 1967-1976," THEMA Working Papers 2017-19, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    16. Mark Skousen, 2020. "There’s Much Ruin in a Nation: An Analysis of Modern Monetary Theory," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(1), pages 11-21, March.
    17. Maciej GAWRYSIAK & Jan POLCYN, 2020. "Neo-Institutional Perspective And The Transaction Costs In The Spheres Of Education," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(22), pages 40-46.
    18. Robert A. Mcguire & Elliott S. Willman, 1999. "Textbook Explanations of Inflation in the 1970s," Public Finance Review, , vol. 27(1), pages 52-76, January.
    19. Levy, David M. & Peart, Sandra J., 2011. "Soviet growth and American textbooks: An endogenous past," Journal of Economic Behavior & Organization, Elsevier, vol. 78(1-2), pages 110-125, April.
    20. Rommel, Florian & Urban, Janina, 2022. "A Survey of German Economics," VfS Annual Conference 2022 (Basel): Big Data in Economics 264131, Verein für Socialpolitik / German Economic Association.
    21. Heise, Arne & Thieme, Sebastian, 2016. "The Short Rise and Long Fall of heterodox Economics in germany After the 1970s: Explorations in a Scientific Field of Power and Struggle," MPRA Paper 80022, University Library of Munich, Germany.
    22. Martin Kniepert, 2014. "Die (Neue) Institutionenökonomik als Ansatz für einen erweiterten, offeneren Zugang zur Volkswirtschaftslehre," Working Papers 552014, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    23. Bäuerle, Lukas, 2019. "The power of economic textbooks: A discourse analysis," Working Paper Series Ök-52, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    24. Matthias Aistleitner & Jakob Kapeller & Stefan Steinerberger, 2018. "Citation Patterns in Economics and Beyond," Working Papers Series 85, Institute for New Economic Thinking.
    25. Graupe, Silja, 2015. "Der erstarrte Blick: Eine erkenntnistheoretische Kritik der Standardlehrbücher der Volkswirtschaftslehre," Working Paper Series Ök-12, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paula E. Stephan, 2004. "Robert K. Merton's perspective on priority and the provision of the public good knowledge," Scientometrics, Springer;Akadémiai Kiadó, vol. 60(1), pages 81-87, May.
    2. Élodie Bertrand, 2006. "La thèse d'efficience du « théorème de Coase ». Quelle critique de la microéconomie ?," Revue économique, Presses de Sciences-Po, vol. 57(5), pages 983-1007.
    3. Siri Terjesen, 2007. "Note to Instructors: Building a Better Rat Trap," Entrepreneurship Theory and Practice, , vol. 31(6), pages 965-969, November.
    4. Walter Block, 2010. "Rejoinder To Boettke On Coasean Economics And Communism," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 9-30, September.
    5. Walter Block & William Barnett, 2009. "Coase and Bertrand on lighthouses," Public Choice, Springer, vol. 140(1), pages 1-13, July.
    6. Marc Flandreau, 2013. "Sovereign states, bondholders committees, and the London Stock Exchange in the nineteenth century (1827–68): new facts and old fictions," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 29(4), pages 668-696, WINTER.
    7. Heatley, David, 2011. "Auckland Transport: Institutional Congestion?," Working Paper Series 4080, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    8. JOHN McMILLAN, 1979. "The Free‐Rider Problem: A Survey," The Economic Record, The Economic Society of Australia, vol. 55(2), pages 95-107, June.
    9. Williams, Michael R. & Hall, Joshua C., 2015. "Hackerspaces: a case study in the creation and management of a common pool resource," Journal of Institutional Economics, Cambridge University Press, vol. 11(4), pages 769-781, December.
    10. Dan Bogart & Gary Richardson, 2011. "Property Rights and Parliament in Industrializing Britain," Journal of Law and Economics, University of Chicago Press, vol. 54(2), pages 241-274.
    11. Carnis Laurent, 2014. "The Political Economy of Lighthouses: Some Further Considerations," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 20(2), pages 143-165, December.
    12. Alain Marciano & Giovanni Battista Ramello, 2019. "Law, economics and Calabresi on the future of law and economics," European Journal of Law and Economics, Springer, vol. 48(1), pages 65-76, August.
    13. Michael Fotos, 2015. "Vincent Ostrom’s revolutionary science of association," Public Choice, Springer, vol. 163(1), pages 67-83, April.
    14. Peter T. Leeson, 2010. "The Political Economy of Peter Boettke," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 26(Fall 2010), pages 47-55.
    15. Mark Koyama, 2014. "The law & economics of private prosecutions in industrial revolution England," Public Choice, Springer, vol. 159(1), pages 277-298, April.
    16. Wang Ning, 2018. "Law and the Economy: An Introduction to Coasian Law and Economics," Man and the Economy, De Gruyter, vol. 5(2), pages 1-13, December.
    17. Button, Kenneth & Thibault, Marc, 2005. "The Political Economy Of Maritime Container Security," 46th Annual Transportation Research Forum, Washington, D.C., March 6-8, 2005 208148, Transportation Research Forum.
    18. Dulong de Rosnay, Mélanie & Stalder, Felix, 2020. "Digital commons," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 9(4), pages 1-22.
    19. Laurent Linnemer, 2012. "Compte rendu d'ouvrage -La société des inconnus : Histoire naturelle de la collectivité humaine," Post-Print hal-00939396, HAL.
    20. Emilios Avgouleas & Stavros Degiannakis, 2009. "Trade transparency and trading volume: the possible impact of the financial instruments markets directive on the trading volume of EU equity markets," International Journal of Financial Markets and Derivatives, Inderscience Enterprises Ltd, vol. 1(1), pages 96-123.

    More about this item

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:jecper:v:11:y:1997:i:2:p:137-52. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.