ABSTRACT
Paul A. Samuelson was awarded the Second Nobel Prize for Economics in 1970, the First U.S. recipient. The Swedish Academy while declaring this award has rightly said that Samuelon has done "more than any other economist to raise the level of scientific analysis in the field of economic theories. He has rewritten considerable parts of central economic theory and has in several areas achieved results which now reach among the classical theorems of economics". He is an outstanding economist who has tried his best to shape U.S. economic and fiscal policies all through. In fact, he has done probably more than any other economist in the U.S. to recast the policy implications of the "General Theory" to suit the U.S. economic and political environment.
