Dr. Paul Samuelson, Jewish Professor, Wins Nobel Memorial Prize in Economics

Dr. Paul Samuelson, 55-year-old American Jewish professor of economics at the Massachusetts Institute of Technology, was named today in Stockholm as the winner of the Nobel Memorial Prize in Economics. The Swedish Academy of Science made the announcement of the award, which is worth $76,900 this year. This is the second year the special economics prize has been awarded. Dr. Samuelson, who was born in Gary, Ind., and lives in Belmont, Mass., received a master’s degree from the University of Chicago and doctorates from Harvard and Oberlin (Ohio) College. A Guggenheim fellow in 1948-49 and a member of the American Academy of Arts and Sciences, Dr. Samuelson is the author of a number of books, including “The Foundation of Economic Analyses.” He is the third Jew so far to receive a 1970 Nobel Prize. On Oct. 15, Sir Bernhard Katz of London and Dr. Julius Axelrod of Bethesda, Md., shared the Physiology and Medicine prize with a Swedish scientist.