Ep. 243: Charles Engel on Currency Models, Carry Trades and Capital Flows

First published in 1947, 'Foundations of Economic Analysis' by Paul A. Samuelson is a groundbreaking treatise that has undergone several reprintings and translations. The book integrates classical and modern economic theories, providing a comprehensive framework for economic analysis. It includes a new introduction that discusses the book's genesis and its contributions to theoretical developments over the past thirty-five years. The mathematical appendix covers post-1947 breakthroughs in political economy, including linear and nonlinear programming, dynamic and stochastic analysis, modern duality theory, and probabilistic decision making. This work is highly regarded for its scientific rigor and has significantly elevated the level of analysis in economic theory.