Paul Samuelson’s famous 1948 “factor price equalization theorem” was his main contribution to international trade theory. He demonstrated conditions under
This chapter explains how the concept of the rule of law grew and changed in the founding of the United States. The United States was founded by people who thought they were
Erich Pinzón-Fuchs, Cléo Chassonnery-Zaïgouche, and Catherine Herfeld
Publication Number:
2019-09
Publication Date:
Friday, May 17, 2019
The literature in the history of economics has grown to an extent that it is almost impossible for an individual to read, study, and assimilate all the recent works even in a specialized area.
Samuelson kept optimization-based problems separated from macroeconomic dynamics in his Foundations, where dynamics were defined in terms of difference and differential equations. Despite some criticism of his “correspondence principle” of stability analysis by D.F. Gordon, D.
The theory of economic development was an exception to Paul Samuelson’s claim of being a “generalist” in economics. It was a hard subject to tackle analytically because of the intrinsic difficulty of some of the concepts involved, such as increasing returns and long-term economic evolution.
