One of the most outstanding economists of our times Prof Samuelson died on Sunday at the age of 94.It is a great loss to all students and teachers of economics .
Prof Samuelson was responsible for making MIT an outstanding place to learn and teach Economics.
He once said about inflation "In the good olden days we used to go to market with money in our pockets and come home with food in the baskets;
Nowadays people go to market with money in the baskets and come home with food in their pockets"
We have seen in television women carrying money in the baskets and going to markets in Zimbabwe where hyper inflation crossed 24000%.
He once commented on the population explosion in developing countries like India "in future before an aircraft lands the pilot will have to make an extra announcement that you are now going to land in a city where you have only standing room!"
Institutions, not People
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In my tribe, I’m particularly fond of two people: Milton Friedman (1912 –
2006) and James M. Buchanan (1919 – 2013). Both were associated with the
Universi...
1 day ago
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1 comment:
hi guys so happy to be between you yayaay love the blog soo much ^^
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