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In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important.
Paul Samuelson
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"In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important."
— Paul Samuelson #moneywealth

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In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per…

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In 1936, money had no important role. Interest rates were one-eighth of one-eighth of one per cent. I did some research, and I found that the interest on one million dollars of ninety-day Treasuries was $37. People didn't even bother to collect it. The Fed wasn't important. — Paul Samuelson

About Paul Samuelson

Paul Samuelson was a Economist from United States (1915–2009).

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Frequently Asked Questions

Who said "In 1936, money had no important role. Interest rates were one-eighth of one-eig…"?
This quote is attributed to Paul Samuelson, a Economist from United States.
When did Paul Samuelson live?
Paul Samuelson lived from 1915 – 2009.
What is this quote about?
This quote touches on Money & Wealth. Browse more quotes on these themes from the categories page.