Although his classic work has gone through many reprintings and translations, only now has Paul A. Samuelson added new material to his 1947 treatise. A new introduction portrays the genesis of the book and analyzes how its contributions fit into theoretical developments of the last thirty-five years. A new and lengthy mathematical appendix gives a survey of the following post-1947 breakthroughs in political economy, in relation to the methodology of Foundations: linear programming and comparative statics; nonlinear programming, dynamic and stochastic; modern duality theory; the testable content of the neoclassical money model; probabilistic decision making, with new slants on the dogma of Expected-Utility maximizing; and portfolio and liquidity preference analysis by general methods that transcend mean-variance approximations.
"synopsis" may belong to another edition of this title.
Paul A. Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences.
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