Abstract: The Noble prize was first awarded in the year 1969. Samuelson was the first American to get it in 1970. This noble laureates has been very flamboyant and versatile writer with physics and mathematics as his pillows. He revolutionized and corrected various classical and neoclassical economic ideas. No doubt, in the initial years he gave greater attention to economic growth and soon could raft in the water's of economic development.
[1]. Indeed Stiglitz began his career with the book, ―The Collected Scientific Papers of Samuelson.‖ Vol. I& II, MIT Press, 1965.
[2]. He had great respect for many economists including the colleagues, students and teachers (may be with differences in Ideas). But Abrham Berson and Joseph A Schumpeter are the two teachers who have left great imprint on him.
[3]. For example, Samuelson attempted to compute the difference the difference between Marxian values and competitive market values among others. See Samuelson P.A. ―The Comparison of Marxian Values and Competitive Market Values – a Critique‖. Journal of Economic Literature, 1969.
[4]. In the subject economics, as a professional economist, Samuelson has held many positions. He was the chief of economic advisory council to the president, president of economic association, American Economic Association, International Economic association – to mention a few.
[5]. See, Paul A. Samuelson, ―Economics‖, Problems of Economic Growth and Development, McGraw-Hill, New York, 1955, (Ninth Edition) pp. 765-787.
[6]. For our recent attempt to list a hand count of few of them only see, a) Arnott, Richard, Bruce Greenwald, Joseph E.Stiglitz, 199. ―Information and Economic Efficiency‖. Information economics and Policy 6(1): 77-88. B) Greenwald, Bruce and Joseph E.Stiglitz, 1988. Quarterly Journal of Economics 101(3): 229-64. c) Greenwald, Bruce and Joseph E.Stiglitz, 1988. ―Pareto Inefficiency of Market Economies: Search and Efficiency Wage Models‖. American Economic Association Papers and Proceddings 78:351-55, d) Hellman, Thomas, Kevin Murdock and Joseph E.Stiglitz, 1997. ―Financial Restraint: Towards a New Paradigm‖. Stanford Graduate School of Business Research Paper, Stanford, California, e) Sappington, David, and Joseph E. Stiglitz, 1987. ―Privatization, Information, and Incentives‖, Journal of Policy Analysis and Management 6:567-82., f) Stiglitz J.E 1990, ―The Economic Role of the State: Efficiency and Effectiveness. Dublin: Institute of Public Administration. g) Stiglitz J.E 1994. ―Whither Socialism‖, Cambridge Mass: MIT Press., h) Stiglitz J.E 1996. ―Some Lessons from the East Asian Miracle‖. The World Bank Research Observer 11(2): 151-78 and 1) Stiglitz Joseph E., and Mariou Uy, 1996. ―Financial Markets, Public Policy and the East Asian Miracle‖. The World Bank Research Observer 11(2)249-76.
[7]. Stiglitz J.E 1997, ―An Aenda for Development in the 21st Century, In Boris Pleskovic and Joseph E. Stiglitz Eds., Annual World Bank Conference on Development Economics. Pp.17-32.
[8]. The role of corruption in economic development has been dabated at length in all international and national forums. There are two schools of thought, 1) subscribing to the view that corruption helps to faster development, while the others view that corruption retards the on going process of development. See World Bank conference on this aspect. Also see, the News Bulletin issued by World Bank highlighting on this aspect. Also see, the News Bulletin issued by World Bank conference on this aspect. Also see, the News Bulletin issued by world Bank highlighting these ideas.
[9]. The period before 1955 was caught up with the concept of growth. In particular, the differences in rate of growth among different countries bothered much.
[10]. The shift towards democracy is different from the original democracy. It has been a common fall out in Russian federation to shift towards democracy during 1990's, which influenced Stiglitz. But Samuelson gave went to Schumputerian process of democracy and development.
