Volume 1 THE SAMUELSON SAMPLER 3
INTRODUCTORY REMARKS 3
Chapter 1 ECONOMIC POLICY 5
Requiem for a Scourge(Oct.1966) 8
Needed Economic Policy(Sept.1968) 12
The End of an Era?(Nov.1968) 15
The New Economics(Nov.1968) 18
Lessons of the 1960s(July 1969) 22
Recession Fears(Aug.1969) 25
Changing of the Guard(Feb.1969) 29
Bill Martin(Feb.1970) 32
Bleak Outlook(Mar.1970) 36
Fighting Recession(June 1970) 39
Economic Policy Is an Art(Oct.1970) 42
Chapter 2 FISCAL POLICY AND TAXATION 47
Raising 1967 Tax Rates(Dec.1966) 51
An Open Letter to LBJ(Jan.1967) 54
Prudent Tax Policy(Mar.1967) 57
The New Tax Surcharge(Apr.1967) 61
To Wilbur Mills(Nov.1967) 64
Vital Public Spending(Nov.1967) 68
Upside-Down Economics(Feb.1968) 71
Investment Tax Credit(Mar.1969) 75
The Value-Added Tax(Mar.1972) 78
Chapter 3 INFLATION,THE EVOLVING SOLUTIONS 82
Tight Money(Oct.1966) 84
Nixon Economics(May 1969) 88
Inflationary Slowdown(June 1969) 91
Living with Inflation(Feb.1971) 95
Price Controls(Dec.1970) 98
Chapter 4 INTERNATIONAL TRADE AND FINANCE 102
Monetary Reform(Sept.1967) 103
A Devaluation Parable(Dec.1967) 106
Defending the Dollar(Jan.1968) 109
Steel Statism(Feb.1968) 113
Gold Dethroned(Apr.1968) 116
The French Galbraith(July 1968) 119
Gold(Oct.1968) 123
Gold Blues(Sept.1969) 126
International Finance(Oct.1970) 129
The Shaky Dollar(Apr.1971) 133
Dollar Crises(May 1971) 136
Devaluation Economics(Aug.1971) 140
Questions and Answers(Oct.1971) 143
Dollar Woes(Mar.1972) 147
Sad Facts,High Hopes(Oct.1972) 150
The Right to Hoard Gold(Dec.1972) 153
Dollar Repair(Feb.1973) 157
Chapter 5 GROWTH-POPULATION AND THE LABOR FORCE 161
Population(June 1967) 163
Falling Birth Rates(June 1972) 166
The Brain Drain(Dec.1968) 169
The Four-Day Week(Nov.1970) 173
Human Ransom(Sept.1972) 176
Chapter 6 WALL STREET AND THE ECONOMY 180
Science and Stocks(Sept.1966) 182
Tail of the Dog(Mar.1968) 185
Antenna of a Mouse(May 1968) 188
Reforming Wall Street(Sept.1968) 192
Stock Prices(Mar.1969) 195
Thinking about Stocks(Aug.1970) 198
Martin s Monopoly(Jan.1972) 202
Today 1,000,Tomorrow...?(Dec.1972) 205
Chapter 7 WALL STREET AND THE INVESTOR 209
Reforming the Funds(Mar.1967) 211
Prudent Investment,Ⅰ(July 1967) 214
Prudent Investment,Ⅱ(Sept.1967) 218
Alibis,Alibis(Apr.1969) 221
Bold Investing(May 1970) 225
Prudent Investing(Aug.1970) 228
Mutual Funds(Aug.1971) 231
Personal Finance(Apr.1972) 235
Chapter 8 SOME REFLECTIONS ON EQUITY 239
Social Security(Feb.1967) 241
Negative Income Tax(June 1968) 244
Racism as Colonialism(July 1968) 248
Tax Reform(August 1969) 251
Prejudice(Mar.1970) 254
Chapter 9 ANY ROOM FOR LOVE? 259
Love(Dec.1969) 260
Blood(Sept.1971) 263
Chapter 10 A LOOK BACK,A LOOK AHEAD,A LOOK AROUND 267
Keeping the Score(May 1967) 269
Report-Card Time(Apr.1968) 273
The New Year(Jan.1969) 276
Good Times Coming(Sept.1970) 280
Stocktaking(July 1970) 283
Springtime Euphoria(May 1971) 287
Hits and Misses(Jan.1973) 290
What s Wrong?(Mar.1973) 294
GNP,Non:NEW,Oui(Apr.1973) 297
Chapter 11 THE ECONOMICS OF POLITICS/THE POLITICS OF ECONOMICS 302
Campaign Economics(Aug.1968) 303
The Economics of Class(Oct.1969) 306
Election Economics(Oct.1970) 310
The Two Nixons(Feb.1971) 313
Economic Snake Oil(Mar.1971) 317
Nixon Economics(Aug.1971) 320
Election Economics(May 1972) 323
Candidates Economics(May 1972) 327
State of the Economy(Aug.1972) 330
Economic Issues(Oct.1972) 334
The Morning After(Nov.1972) 337
Chapter 12 THE VIETNAM WAR 341
The Economics of War(Nov.1966) 342
Ending the War(June 1970) 345
U.S.Identity Crisis(June 1971) 349
Economic Postmortem(Feb.1973) 352
Capitalism and War(Jan.1973) 356
Chapter 13 MARX,MARXISTS AND SOME OTHERS 361
Marx s Das Kapital (Oct.1967) 363
Lenin(Dec.1970) 366
Rosa Luxemburg(Oct.1971) 370
New-Left Economics(Dec.1971) 373
Chapter 14 SOME ADVANCED ECONOMIES 377
True Income(Oct.1969) 379
A Good Life(Jan.1971) 382
What s Happening to the Affluent State?(Sept.1971) 386
Japan Revisited(Nov.1971) 396
Chapter 15 THE LIBERATED CORPORATION? 400
Business in a Doghouse(Jan.1969) 402
Love That Corporation(Dec.1970) 405
Corporate Giants(Mar.1971) 409
The Businessman s Shrinking Prerogatives(Spring 1972) 412
Chapter 16 SOME TWENTIETH CENTURY ECONOMISTS 421
Galbraith(July 1967) 423
Memories(June 1969) 427
Two Remarkable Men(Nov.1969) 430
Who s Who in Economics(Jan.1970) 433
Joseph Schumpeter(Apr.1970) 437
Frank Knight,1885-1972(July 1972) 440
Volume 2 ECONOMICS FROM THE HEART 447
INTRODUCTORY REMARKS 447
Chapter 1 REALISTIC HOPES CONCERNING ECONOMICS AND DEMOCRACY 449
Human Motivation 452
Christmas Economics(December 20,1974) 452
Social Darwinism(July 7,1975) 455
Love(December 29,1969) 458
Adam Smith(March 15,1976) 459
The Economic Role of Government 462
Scoreboard for Liberals(June 19,1978) 462
New York Dilemma(November 10,1975) 465
Republican Game Plans(February 16,1981) 469
Intellectuals(February 23,1976) 472
Public Choice and American Political Parties 475
Class Politics(February 2,1976) 475
Party Economics(April26,1976) 479
Economic Politics(November 18,1974) 482
Road to 1984(August 13,1973) 485
The Mixed Economy 489
Advice to Candidate Kennedy(October 15,1979) 489
Planner in Peru(September 1,1980) 492
Britain:Don t Expect a Miracle(May 28,1979) 496
U.S.Still the Richest?(August 18,1975) 499
Capitalism in Twilight?(June 7,1976) 502
Economics and Politics(January 15,1979) 506
Economic Scares(September 11,198) 509
Too Much Democracy?(April 9,1979) 512
Chapter 2 TOUGH CHOICES IN SUSTAINING GROWTH 517
A Burns Depression?(March 3,1975) 521
Economic Development and Growth 521
B for the Economy(February 26,1979) 524
Margaret Thatcher s Trials(June 16,1980) 528
Good News on Development(July 23,1979) 531
Business Cycles,Forecasting and Trade-offs 535
Another Great Depression?(October 28,1974) 535
Policy for Stagflation(October 15,1973) 538
The Economic Outlook(March 25,1974) 541
Questions and Answers(June 17,1974) 545
The New Recovery(July 28,1975) 548
Bonanzas from Democrats(July 26,1976) 552
Recovery Signs(September 22,1980) 555
Year-end Questions(January 1,1979) 558
Coping with Stagflation(August 19,1974) 562
A Nobel for Forecasting(November 3,1980) 565
Vital Public Spending(November 29,1967) 568
Fiscal Policy 568
Alvin H.Hansen,1887-1975(June 16,1975) 569
Should We Cut Taxes?(May 6,1974) 572
Inflation 575
Inflation Trauma(Ⅱ)(May 21,1973) 575
Inflation Fallacies(July 29,1974) 579
Warm Autumn for the West(July 18,1977) 582
A New Economic Tack(February 5,1979) 585
Recession:Made in Washington(December 24,1979) 589
Living with Inflation(February 25,1980) 592
The Case for Controls(March 3,1980) 596
Stagflation(Ⅰ)(September 3,1973) 599
Q and A(May 6,1975) 603
Monetary Policy 606
Milton Friedman(October 25,1976) 606
Still a Good Year(January 9,1978) 609
Realistic Hopes(October 23,1978) 613
America s Credit Crisis(March 17,1980) 616
Where the Economy Stands(April 28,1980) 619
Outlook for the 80s(December 15,1980) 623
Chapter 3 THE MERITS OF THE MARKET 627
The Market Versus Planning 628
Buffer Food Stocks(June 6,1977) 628
Energy Economics(July 2,1973) 631
Oil Economics(September 29,1975) 635
Energy Basics(April 25,1977) 638
Nobel Laureate Leontief(November 5,1973) 641
Corporate Giants(March 29,1971) 645
Businessman Blues(August 8,1977) 645
Corporations 645
Frank Knight,1885-1972(July 31,1972) 645
Judging Corporate Handouts(August 13,1979) 649
Kennedy s Antimerger Initiative(September 3,1979) 652
The Businessman s Shrinking Prerogatives(Spring,1972) 656
Chapter 4 INCOME AND WEALTH 657
Maintaining Wealth 659
Coping(February 10,1975) 659
Investment Secrets(April 5,1976) 663
Index-Fund Investing(August 16,1976) 666
Defensive Investing(December 20,1976) 669
Investment Trends(June 27,1977) 673
Hanging in There(February 13,1978) 676
Coping Sensibly(March 6,1978) 679
No-Fuss Canny Investing(February 4,1980) 683
Crackpot Investing(January 26,1981) 686
Lynch Money-Market Funds?(April 20,1981) 690
Time to Sell?(December 11,1978) 693
Capital Formation 693
Capital Shortage,or Glut?(August 26,1974) 697
The Uneasy Case for Stocks(June 11,1979) 700
Winners and Losers(November 24,1980) 703
The Distribution of Income 707
Inequality(December 17,1973) 707
Gold Through the Golden Door(May 26,1975) 710
Unemployment(September 6,1976) 714
Tax Reform(September 27,1976) 717
Welfare Reform(August 29,1977) 720
Economics of Discrimination(July 10,1978) 723
Social Security 727
Social Security:A-OK(April 14,1975) 727
Financing Pensions(April 4,1978) 730
An Unlucky Generation(October 10,1977) 733
Social Security Taxing(April 17,1978) 737
Economics of Old Age(March 30,1981) 740
Chapter 5 CLUES TO ECONOMIC PROSPERITY AT HOME AND ABROAD 744
Free Trade 746
Steel Statism(February 26,1968) 746
Threat of New Tariffs(August 11,1980) 746
Exchange Rates 750
Gold(July 8,1974) 750
Gold and the Dollar(October 31,1977) 753
Dollar Essentials(January 23,1978) 756
In Defense of Floating(March 27,1978) 760
International Finance(October 2,1978) 763
Who Needs a New Order ?(October 13,1980) 766
Around the World 770
What s Happening to the Affluent State?(September,1971) 770
Japan Revisited(November 15,1971) 770
Two Success Stories(March 9,1981) 770