Influenced by the works of Eugene Fama, Burton Malkiel, and Paul Samuelson, Mr. Bogle founded the Vanguard 500 Index Fund in 1975 as the first index mutual fund available to the general public.
The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory".
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In 2003, Samuelson was one of the ten Nobel Prize winning economists signing the Economists' statement opposing the Bush tax cuts.
A standard theoretical statement of positive economics as operationally meaningful theorems is in Paul Samuelson's Foundations of Economic Analysis (1947).
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This distinction was also the cause of some confusion when the theory was eventually debated in the Anglo-Saxon world in the 1970s (among non-Marxists, e.g., Paul Samuelson, David Evans).