Paul A. Samuelson was born in 1915 in Indiana. When he was a little boy, his parents moved to Chicago, therefore he went to school there. He also pursued his bachelor studies in mathematics at University of Chicago. Then, he went to Harvard and received his masters in 1936 and his Ph.D. in 1941 from there. His doctoral thesis, as many believe, laid the fundamental basis for the integration of economics and mathematics. Upon graduation from Harvard, he started his career at MIT and remained there for the rest of his professional career. Throughout his lifetime, he always sought...
In his Nobel Prize speech, Friedrich Hayek asserted that, “… I must confess that if I had been consulted whether to establish a Nobel Prize in economics, I should have decidedly advised against it. It is that the Nobel Prize confers on an individual an authority which in economics no man ought to possess.”
Modigliani was a famous fan of the Keynesian school of economic thought. There was a cartoon on his office door which said, “With your permission, gentlemen, I’d like to offer a kind word on behalf of John Maynard Keynes.”
Richard Thaler was born in New Jersey in 1945. He attended Case Western Reserve University and received his bachelor degree in economics in 1967. He continued his studies and got a masters in economics from University of Rochester. Thaler also received his PhD in 1974 in economics from the same university.