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Economics: The Original 1948 Edition Hardcover – December 1, 1997

ISBN-13: 978-0070747418 ISBN-10: 0070747415 Edition: 1st

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Product Details

  • Hardcover: 656 pages
  • Publisher: McGraw-Hill/Irwin; 1 edition (December 1, 1997)
  • Language: English
  • ISBN-10: 0070747415
  • ISBN-13: 978-0070747418
  • Product Dimensions: 6.2 x 1.8 x 9.3 inches
  • Shipping Weight: 2.4 pounds (View shipping rates and policies)
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (8 customer reviews)
  • Amazon Best Sellers Rank: #172,215 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

``. . .it has been a pleasant surprise to discover how much of the original verve and relevance is still there. That is the only kind of immortality that an author could have or want.''--Paul A. Samuelson From the FOREWORD. On a short list of textbooks that could truly be called immortal, Economics by Porfessor Paul A. Samuelson is among the most celebrated. Since 1948, Professor Samuelson's landmark work has been translated into more than 40 languages, analyzed and debated by millions of economics students, and honored by the great John Kenneth Galbraith. Its fundamental impact on the opinions and approaches of today's most influential economists is extraordinary. Now, McGraw-Hill is proud to make available this meticulously detailed reproduction of the watershed economics textbook. In Economics: The Original 1948 Edition (in which every word, idea, phrase, even the typestyle remain unchanged from the original), professor Samuelson's work remains as viable and thought-provoking as it was a half-century ago. The timeless wisdom applicability of his words still ring true in today's turbulent economic world. This unique and carefully crafted reprodctuion edition represents the original spark that ignited the Samuelson revolution--a movement that has endured for half a century. Doubly valuable for both its rich history and its still-fresh ideas, and with a new foreword by the author for this edition only, Professor Samuelson's Economics: The Original 1948 Edition will be an honored addition to every business and economics library.

About the Author

Professor Paul A. Samuelson, founder of the renowned MIT graduate department of economics, was trained at the University of Chicago and Harvard. His many scientific writings brought him world fame at a young age, and in 1970 he was the first American to receive a Nobel Prize in economics. One of those rare scientists who can communicate with the lay public, Professor Samuelson wrote an economics column for Newsweek for many years. He testifies often before Congress, serves as academic consultant to the Federal Reserve, the U.S. Treasury, and various private, nonprofit organizations, and was economic advisor to American presidents including John F. Kennedy

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Customer Reviews

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Most Helpful Customer Reviews

19 of 23 people found the following review helpful By Michael Emmett Brady on September 14, 2004
Format: Hardcover
Samuelson's Economics is simply the best book available for any individual attempting to obtain an understanding of basic economics.Chapter 2 of the first edition lays out the foundation for an understanding of the different schools of macroeconomics by examining the micro foundation of macroeconomics-the production possibilities frontier(PPF) model.In this path breaking book,Samuelson called the PPF by its other name,the transformation curve.Chapter 11 then ties the student's knowledge of the PPF directly to the problem of insufficient(or too much)investment spending over time.Samuelson ,like Keynes,identifies the intertemporal problem of optimal investment expenditure as THE fundamental problem of all capitalist economies.The extreme volatility and unpredictability of aggregate investment expenditure over the business cycle IS the cause of involuntary unemployment.Samuelson then carefully explains the paradox of thrift in relation to where on the PPF the macroeconomy is operating.If the economy is operating on the boundary of the PPF then the microeconomic optimality conditions of the marginalist calculus,based on the rationality principle of classical and neoclassical economic theory,will reflect resource scarcity.A negative relationship will exist between consumption goods expenditure and investment goods expenditure.Such a smooth tradeoff over time can only mean that investment is NOT volatile and/or unpredictable over time.Private sector investment is as stable and predictable as private consumption spending over time in classical and neoclassical theory .CLASSICAL and NEOCLASSICAL economics is the study of economies operating,with minor inventory flucuations over time,primarily on the boundary of the PPF.Read more ›
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24 of 30 people found the following review helpful By Zvi Bodie on December 24, 1998
Format: Hardcover
I was amazed to discover how good the original edition of Samuelson's classic economics text is. Virtually everything in it is just as relevant today as it was in 1948. Of special interest to me was chapter 10, Personal Finance and Social Security, for the light it sheds on the current debate about retirement income security. I think Samuelson ECONOMICS 1 ed. would be my textbook of choice for a course in introductory economics.
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11 of 16 people found the following review helpful By The Kid on July 26, 2007
Format: Hardcover Verified Purchase
How can there only be 4 reviews on a book that is considered one of the top-five most important economic books of all time (Smith, Keynes, Samuelson, Schumpeter, etc.)?

Armchair Economist: Economics & Everyday Life by Steven E. Landsburg has 53 reviews.

Wow.
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11 of 16 people found the following review helpful By A Customer on January 4, 1999
Format: Hardcover
Absolutely easy to read and understand! I never thought I could actually "enjoy" reading about the subject before I came across this book.
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