Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.
Paul SamuelsonSooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.
Paul SamuelsonProfits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.
Paul SamuelsonIt isn't that greed's increased. What's increased is the realization that you've got a free field to reach out for what you'd like to do.
Paul SamuelsonOur ideal society finds it essential to put a rent on land as a way of maximizing the total consumption available to the society. ...Pure land rent is in the nature of a 'surplus' which can be taxed heavily without distorting production incentives or efficiency. A land value tax can be called 'the useful tax on measured land surplus'.
Paul Samuelson