Word: samuelson
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Joan Benoit-Samuelson, the Olympic gold medalist in the marathon who set a world record last year in the America's Marathon, was named the winner of the Sullivan award as the U.S. Amateur Athletic Union's top athlete...
...most powerful and widely used concepts in modern economics. It was also the work for which M.I.T.'s Franco Modigliani, 67, the theory's principal author, was named the 1985 Nobel laureate in economic science. "With many people, the Nobel Prize is a question of if," said Paul Samuelson, an M.I.T. colleague and the 1970 economics laureate. "With Franco, it was only a question of when." The Italian-born Modigliani is the 13th American to win or share the prize since it was first given in 1969 and the fifth to receive it in the past six years...
...fits the mold of the absentminded professor, Modigliani is known for grasping complex issues with amazing speed. For relaxation he turns to sailing, skiing and tennis, but his mind is never far from economics. He once developed an idea for a paper during a fierce tennis match against Samuelson...
...never a case if he would get it, but when," said Paul Samuelson of MIT, 1970 American Noble laureate. "A large body of opinion thinks it's overdue...
Nordhaus, who studied under Samuelson, at first felt handicapped by his reverence for the tome. Says he: "It was like trying to revise the King James Bible." One major change is a greater emphasis on monetary policy's role in controlling the economy. Earlier editions held the Keynesian view that federal spending policy was more important. The new version pays great attention to interest-rate policy and the role of the Federal Reserve Board...