For 50 years the world's most recognized economics textbook and reference, "Samuelson" has given "the world a common economic language". Co-authored by Paul Samuelson, the first American to win the Nobel Prize in Economics, this new edition is clear, accurate, and interesting with a practical emphasis on the analytical core of economics, the analysis of market economics (micro) and economic growth (macro)
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Most Helpful Customer Reviews
19 of 23 people found the following review helpful:
4.0 out of 5 stars
Great Book,
By
This review is from: Economics (Hardcover)
First of all if this was not a great book, it wouldn't be taught in hundreds of countries worldwide. I read this book 4 years back in Pakistan. I loved the book and wanted to come to USA and meet this great man in Boston (Which I finally did). Only weakness of this book is it's high level content. In this book some very simple contents have been potrayed as very complicated.
13 of 15 people found the following review helpful:
4.0 out of 5 stars
Not quite as good as the 1948(1st) and 1970(8th) editions .,
By Michael Emmett Brady "mandmbrady" (Bellflower, California ,United States) - See all my reviews (VINE VOICE) (REAL NAME)
This review is from: Economics (Hardcover)
The latest edition of Samuelson and Nordhaus is still a very good deal.However,Nordhaus is probably responsible for watering down the exposition,just as Nordhaus is most likely the one responsible for eliminating Samuelson's brilliant exposition of the paradox of thrift in a previous edition of Samuelson and Nordhaus before it was restored.Of course,given that Samuelson is approaching 90 years of age,it is likely that Nordhaus is going to be able to make further changes to the book that will weaken Samuelson's evenhanded treatment of the Keynesian-Neoclassical Synthesis.This edition should be looked upon as the last one in a line of succession stretching back to the original 1948 edition.It is this edition that presents the microfoundations of the paradox of thrift analysis using the Production Possibilities Frontier Curve .Neoclassical theory is a special theory of an economy operating on the boundary of this curve(a statistical version would be that the average or mean position of the economy is on the boundary due to a business cycle consisting of minor inventory changes over time as businessmen in the private sector correct for minor forecast errors made in their product mix).The interested reader can take a look at my detailed review of the original 1948 edition .Such a reader is also adviced to be on guard against "reviews" that claim that Samuelson said something,but provide no page citation or quote out of context by combining parts of different quotations from different pages of the textbook.
18 of 23 people found the following review helpful:
4.0 out of 5 stars
A little Keynes is most welcome these days,
By A Customer
This review is from: Economics (Hardcover)
While other reviewers have justly criticized Samuelson for being model-bound (as most economists are) and dragging the Phillips Curve out of its grave, this remains a fine introduction to basic economic concepts, including the notion that some kinds of wealth are subjective and not quantifiable. Most of the reviewers a-froth over Samuelson name other fine econ primers -- Hazlitt's, Friedman's, etc. -- but the reader should note that their bias is to call democratic socialism imprisonment, and taxes theft. Frankly, I'd recommend reading both sides, and then reading essayists like Galbraith and his conservative counterparts for some descriptive reality, which is in short supply in most econ textbooks.
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