UNCLE PAUL´S RECIPE

Last year, died at the age of 94 years, the famous economist and Nobel laureate Paul Samuelson. Known guardsman of the Keynesian tradition and co-founder of the modern neoclassical economics, he gave us a legacy mandatory to study.


From page 395 of his "Foundation of Economic Analysis" is the following paragraph which, although written in reference to the not-developed countries, you can take out of context, extrapolate to the existing economic situation and invites us to meditate:

"Countries want to know the ingredients of the recipe for success in economic growth. Among the key factors for rapid economic growth are the preponderance of free markets, high rates of saving and investment, lower trade barriers and an honest government with well-defined property rights "