Economic Theory, The 1950s

Abstract Although Samuelson was very well known because of his introductory textbook, his newspaper columns and his role as a policy adviser, his reputation and the authority with which he could speak rested on his mathematical . This chapter reviews his contributions to the main fields on which he worked during the 1950s. These included the theory of the consumer, the theory of international trade, welfare economics, and finance, to all of which he made what were later seen as foundational contributions, doing much to shape how the fields developed. It illustrates some of the ways in which he collaborated with other economists, and the chapter closes by assessing the relationship of this work to the work he had done in his youth.