Within the so-called “Neoclassical School,” the work of the American economist Paul Anthony Samuelson is characterized by his rigorous application of mathematical analysis to various fields of economic theory.

Born in Gary, Indiana, on May 15, 1915, Samuelson studied Economics at the University of Chicago and Harvard University, where he earned his doctorate. Since 1940, he was a Professor of Economics at the Massachusetts Institute of Technology (MIT).

His work Foundations of Economic Analysis, published in 1947, is considered a synthesis and reworking of neoclassical theses, based on the general equilibrium theory of economic systems developed at the end of the 19th century by Léon Walras.

In Samuelson’s mathematical analyses, central topics include the dynamics and stability of economic systems, the incorporation of international trade theory within the framework of general equilibrium doctrine, the analysis of public goods, and capital theory.

Later, Samuelson — whose textbook Economics: An Introductory Analysis, written in 1948, was adopted as a standard text in universities worldwide — combined theoretical studies with his work as an economic advisor to public and private institutions, such as the U.S. Treasury, the National Planning Board, the Council of Economic Advisers, and the Federal Reserve Board.

President of the American Econometric Society since 1951, he served as an advisor to President John F. Kennedy in the early 1960s.

Samuelson is known worldwide through his numerous contributions to different publications, including those aimed at general readers. In his articles, he managed to simplify the language of economists without sacrificing content.

His clear and logical presentation of ideas is the key to the success of his books, lectures, and articles. For many years, he wrote the economics column for Newsweek.

Honored with honorary doctorates from numerous prestigious universities in Europe and America, among the many awards he received, the most notable is the Nobel Prize in Economic Sciences in 1970, in recognition of his research on microeconomics and static economics.