Limitations of economics from Paul Samuelson

 Limitations of economics from Paul Samuelson
Xuezhao Feng
2009  
Samuelson (Paul A. Samuelson) passed away yesterday. May he rest in peace old!
I believe that few as one can claim to be as David Henderson has never been to the dumping of Samuelson's textbook (see here). The reason he must have had a better teacher Armen entry (Armen A. Alchian). I have read their own his Friedman (Milton Friedman) of the book, but that is beside the point of the.
Samuelson is intelligent (his textbook-clear water), of course, profound (Arnold Kling learned Austrian capital theory is that he taught himself in mm see here), of course, has the original (before the end of World War II to write his doctoral thesis laid the mathematical paradigm of modern economics), and of course, far-reaching (this paradigm to feed the millions of modern economists.) But I think his legacy at least two limitations. First, the misleading of the status of mathematics in economics; second, is to forget the real world.
first. Nobel Prize winner Lucas ( Bob Lucus) praised the impact of Samuelson said: a problem in economic theory mathematically, I didnrt know what I was doing. see here). mathematical form, but the mathematics itself can not launch any ideas. Economic development relies on the improvement points of view. On the mathematical heritage Samuelson implied misleading, Deirdre N. McCloskey wrote a happy fun booklet, The Vices of Economists; The Virtues of the Bourgeoisie, friends who are interested, see here.
second. Samuelson himself so powerful, worthy of all the scholars of the adjectives used to praise their create a scientific (or said mathematical) economics so dramatically, but he was a few decades to the economic strength of the Soviet Union made a mistake. The following three maps, is in its 1961,1967 and Samuelson 1970 version of . Although this forecast table in the follow-up version of the the socialist command economy is not only feasible but even thriving. ([T] he Soviet economy is proof that, contrary to what many skeptics had earlier believed, a socialist command economy can function and even thrive. mm see here).
Samuelson died, many praised the temporary emergence of wisdom and contributions to his blog post. I think that Samuelson praised for these well-deserved. but because of it, we have to also ask: how the economics actually ?
photo:
1961 years Communication, specifically requested the venue: