[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fr99XT-EGGtGsFnQH-B2CiGjws6GUWt7OuEcFAud0pSs":3,"$fwiqWhrUoedLqRD_LT7T3DlndvYncpMHmiMhTSDfXgDc":16},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},17152,"Paul Samuelson","P",159,null,"paul-samuelson",[12],{"tag_id":13,"tag_name":14,"tag_count":15},5843,"investing",8,{"quotes":17,"pagination":82},[18,26,33,39,45,51,58,64,70,76],{"id":19,"quote_text":20,"author_id":5,"source_id":21,"has_image":22,"author":23,"source":24,"quote_tag":25,"commentary":9},3874255,"My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words.",7,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":27,"quote_text":28,"author_id":5,"source_id":21,"has_image":22,"author":29,"source":30,"quote_tag":31,"commentary":32},3874253,"The parts of physics that are exact are the parts of physics that are exact. The parts that are inexact are vastly greater. Sensible scientists don't waste their time pushing against doors that endlessly will not give. They are opportunistic and go where they can, but there are pitfalls in that.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nThis quote from Paul Samuelson, the renowned economist, reflects his pragmatism and acceptance of the complexity of scientific inquiry. Written in the mid-20th century, Samuelson's statement acknowledges the limitations of exactness in certain areas of physics, such as quantum mechanics, and the futility of devoting excessive time to them. During this era, the scientific community was grappling with the challenges of understanding the fundamental nature of the universe.\n\n**The Hidden Insight**\nThe quote reveals a counter-intuitive truth about the nature of scientific progress. Samuelson suggests that even among experts, there's a tendency to overemphasize the pursuit of precision in areas where it's unattainable, leading to wasted effort and missed opportunities. By acknowledging the inexactness of certain aspects of physics, Samuelson highlights the importance of adaptability and opportunism in scientific inquiry.\n\n**How to Use This**\nIn today's fast-paced, interdisciplinary work environments, this mindset can be applied by acknowledging the limitations of one's expertise and being open to exploring adjacent areas where progress can be made. By focusing on the \"parts of the puzzle\" that are more accessible and leveraging the insights from other fields, professionals can make meaningful contributions and achieve their goals more efficiently.",{"id":34,"quote_text":35,"author_id":5,"source_id":21,"has_image":22,"author":36,"source":37,"quote_tag":38,"commentary":9},3874250,"The Malthusian Theory - that mankind, for biological and sociological reasons, is so fertile, so fecund, that if you started out with the new continent and plenty of land for everybody, in several generations we would multiply our numbers.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":40,"quote_text":41,"author_id":5,"source_id":21,"has_image":22,"author":42,"source":43,"quote_tag":44,"commentary":9},3874249,"When I was a kid, I reckoned things in Hershey bars. Is this worth three Hershey bars to me?",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":46,"quote_text":47,"author_id":5,"source_id":21,"has_image":22,"author":48,"source":49,"quote_tag":50,"commentary":9},3874247,"Actually, in my advanced, high-falutin' frontier economics, I often work with what I define as 'money metric utility,' and I ask people, 'Do you really want that? What are you willing to pay for that?'",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":52,"quote_text":53,"author_id":5,"source_id":21,"has_image":22,"author":54,"source":55,"quote_tag":56,"commentary":57},3874245,"A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nThis quote is attributed to Paul Samuelson, a renowned American economist and Nobel laureate. It was likely written during the 1960s, a period of significant economic growth and social change in the United States. Samuelson was a key figure in shaping the country's economic policy during this era, serving as a consultant to the Kennedy and Johnson administrations.\n\n**The Hidden Insight**\nAt first glance, the quote seems to suggest that reducing taxes is a straightforward way to boost economic growth. However, the hidden insight lies in the fact that Samuelson is advocating for a \"temporary reduction\" in tax rates, which implies that he is aware of the potential risks of prolonged tax cuts. This nuanced approach highlights the importance of considering the long-term consequences of economic policies, rather than relying on simplistic solutions.\n\n**How to Use This**\nIn today's fast-paced business environment, professionals and entrepreneurs can apply this mindset by adopting a \"temporary\" approach to innovation and risk-taking. Instead of trying to revolutionize an industry with a single, grand idea, consider launching a small-scale pilot project or experimenting with a new approach for a limited time, allowing for flexibility and adaptation as needed.",{"id":59,"quote_text":60,"author_id":5,"source_id":21,"has_image":22,"author":61,"source":62,"quote_tag":63,"commentary":9},3874243,"U.S. capital formation, which has been pretty high in the '90s and very high in the late 1990s, is what is being financed by the savings of the rest of the world, generally poorer than ourselves, because our deficit on current account, chronic deficit, is their surplus, and they have been willingly bringing that to the American market.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":65,"quote_text":66,"author_id":5,"source_id":21,"has_image":22,"author":67,"source":68,"quote_tag":69,"commentary":9},3874241,"I can't think of a president who has been overburdened by a knowledge of economics.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":71,"quote_text":72,"author_id":5,"source_id":21,"has_image":22,"author":73,"source":74,"quote_tag":75,"commentary":9},3874239,"The history of the twentieth century - America's century! - has been pretty much a history of rising prices.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":77,"quote_text":78,"author_id":5,"source_id":21,"has_image":22,"author":79,"source":80,"quote_tag":81,"commentary":9},3874236,"Things swept so badly that I had distrust - after 1967, let's say - of American Keynesianism. For better or worse, U.S. Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"currentPage":83,"totalPages":84,"totalItems":8,"itemsPerPage":85},1,16,10]