1. Robert Solow, Economist Who Studied the Importance of Innovation for Growth, Dies at 99.
- Author
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Hufford, Austen
- Subjects
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NOBEL Prize in Economics , *TECHNOLOGICAL progress , *CAPITAL investments , *ECONOMIC expansion , *NOBEL Prize winners - Abstract
Robert Solow, an American economist who recently passed away at the age of 99, emphasized the importance of technical progress and innovation in driving economic growth and prosperity. His research challenged the prevailing economic thinking of his time, which focused more on savings rates and capital investment. Solow's framework, known as the Solow Model, highlighted the role of productivity, technological progress, and population growth in driving sustained economic growth. He was recognized for his contributions with the Nobel Prize in Economics in 1987, the Presidential Medal of Freedom in 2014, and the John Bates Clark Medal in 1961. Solow's impact extended beyond his research, as he mentored several future Nobel laureates and helped make economics more accessible to a wider audience. [Extracted from the article]
- Published
- 2023