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He earned a bachelor's degree from the University of Chicago in 1935 and a PhD from Harvard University in 1941.
As professor of economics at the Massachusetts Institute of Technology, he has worked in fields including:
He was also the author of an influential economics textbook, Economics, first published in 1948, and revised regularly for the following fifty years.
Stanislaw Ulam once challenged Samuelson to name one theory in all of the social sciences which is both true and nontrivial. Several years later, Samuelson responded with David RicardoDavid Ricardo ( April 19, 1772- September 11, 1823), a British economist, is often credited with systematizing economics, and was one of the most influential of the classical economists. He was also a successful businessman, financier and speculator, and's theory of Comparative advantageIn economics, the theory of comparative advantage explains why it can be beneficial for two countries to trade, even though one of them may be able to produce every kind of item more cheaply than the other. What matters is not the absolute cost of product.Excerpt of the argumentation for awarding him the Nobel Prize:
"Generally speaking, Samuelson's contribution has been that, more than any other contemporary economist, he has contributed to raising the general analytical and methodological level in economic science. He has in fact simply rewritten considerable parts of economic theory. He has also shown the fundamental unity of both the problems and analytical techniques in economics, partly by a systematic application of the methodology of maximization for a broad set of problems. This means that Samuelson's contributions range over a large number of different fields."
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