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Business Daily: Paul Samuelson, Pioneer of Economics.

14/12/2009

Paul Samuelson, Pioneer of Economics.

BBC World Service - Business Daily, Paul Samuelson, Pioneer of Economics.

The work of economist Paul Samuelson, including one of his last interviews.

We pay tribute to the achievements of Nobel prize-winning economist Paul Samuelson, including one of his last interviews where 
he recalled how economics had been 'love at first sight' for him.

We pay tribute to one of the greatest pioneers of economics, Paul Samuelson, who has died at the age of ninety-four. He was the second person ever to win a Nobel Prize for economics. He is best known for bringing together different branches of the discipline to make a logical whole. Millions of economics students have read his work, which has been translated into forty or more languages.

He was a contemporary of John Maynard Keynes and believed governments had to spend money in hard times to restore full employment. In late November 2009, he gave an interview to Business Daily. He told presenter Lesley Curwen about his vivid memories of the Great Depression, and his belief that more deficit spending is needed today to improve America's economy.

Plus BBC economics correspondent Andrew Walker explains the importance of Professor Samuelson's work. 

And the BBC's Jonathan Frewin has a step-by-step guide to how the European carbon market works. Also, Bright Simons our commentator in Ghana looks at the challenge of mitigating global warming in developing nations.

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