Sciences advance. But they can also recede. That is true of economics as well. By the end of World War II, the leading introductory textbooks in economics had lost their vitality and relevance. Nature abhors a vacuum. The first edition of this textbook appeared as the 1948 edition of Samuelsonβs ECONOMICS. It introduced macroeconomics into our colleges and served as the gold standard for teaching economics in an increasingly globalized world.
