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- Samuelson's textbook has delivered a great deal of economic wisdom. For many economists, the positive side of the balance sheet has outweighed the negative. Indeed, his defenders might ask: Might the United States and the West have suffered another Great Depression if Samuelson had not emphasized the need for "automatic stabilizers"? Did not Samuelson's heralding of the "mixed" economy curb the appetite of third world countries for national socialism?
We will never know, of course, but it is humbling to speculate on whether alterations in principles textbooks might have led to a different U.S. economy.
- Mark Skousen, "The Perseverance of Paul Samuelson's Economics", The Journal of Economic Perspectives, Vol. 11, No. 2 (Spring, 1997)
- The triumph of persuasion over force is the sign of a civilized society.
- Mark Skousen in: Connor Boyack Latter-Day Liberty: A Gospel Approach to Government and Politics, Connor Boyack, 2011, p. 266
- The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.
- Mark Skousen; in: The Freeman: Ideas on Liberty, Vol. 60, Nr. 3-10 (2010). p. 7
Quotes about Mark Skousen
- The question of the value of Hayek’s work in technical economic theory from the middle 1920s through early 1940s is one over which there is considerable dispute in the academic economic community. Some, such as contemporary Austrian economists Roger Garrison, Mark Skousen, and Gene Callahan, consider this work to be of vital, continuing relevance. Others, such as Nobel Prize winners Milton Friedman, James Buchanan, and Ronald Coase, while they have the highest opinion of Hayek, do not consider his work in technical economic theory to be of much worth.
- Alan Ebenstein, Hayek's Journey: The Mind of Friedrich Hayek (2003), Ch. 5. Money and Capital