Robert Solow, professor emeritus of economics at the Massachusetts Institute of Technology (MIT), who won the Nobel Prize in economics for his contributions to the theory of economic growth, has died. He was 99 years old.
Mr. Thoreau died on the 21st at his home in Lexington, Massachusetts, the New York Times reported, citing his son.
He analyzes the factors of economic growth by breaking them down into three elements: capital, labor, and technological progress.growth accountingWe built a mathematical model that incorporates a method called “. The Royal Swedish Academy of Sciences awarded him the Nobel Prize in Economics in 1987 for his work on his theory of economic growth. In announcing the award, the Academy noted that “Solow’s growth model constitutes a framework that enables the construction of modern macroeconomic theory.”
Robert Solow (1987)
Photographer: Vin Catania/AFP/Getty Images
Mr. Thoreau was born on August 23, 2014 in Brooklyn, New York, the eldest of three children. He studied economics at Harvard University and worked as a research assistant for Russian economist Vasily Leontief, who won the Nobel Prize in 1973. He received his PhD from the same university in 1951. He joined his faculty at MIT in 1950 to pursue a career teaching statistics and econometrics, he later said.
Solow, who was at MIT for many years, had one of his students, Mario Draghi, who later served as president of the European Central Bank (ECB) and prime minister of Italy.
Mr. Solow served as a senior economist on the President’s Council of Economic Advisers (CEA) during the Kennedy administration. He retired from MIT in 1995 and became a professor emeritus.
news-rsf-original-reference paywall">Original title:Robert Solow, Nobelist Who Tied Technology to Growth, Dies at 99(excerpt)
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2023-12-22 06:05:34
