These comments were delivered by Professor Samuelson at the First Annual Award Ceremony, which was held during the ASSA Annual Conference in New Orleans, Louisanna.
Among other things, Professor Samuelson offers that "lifetime savings are the principal source of an economy’s capital formation" and he recognized TIAA-CREF as a pioneer in this cause. He offers that, in seven decades, markets have crashed and many scandals have erupted but, through it all, "TIAA-CREF has delivered its daily goods."
Professor Samuelson acknowledged the winner of the first Paul A. Samuelson Award -- Robert Shiller, Professor or Economics from Yale University.
