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Robert Solow Biography

Robert Merton Solow, GCIH (/ˈsoʊloʊ/; born August 23, 1924), is an American economist, particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Three of his PhD students, George Akerlof, Joseph Stiglitz, and Peter Diamond, later received Nobel Memorial Prizes in Economic Sciences in their own right.

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Robert Solow Quotes

The user of land should not be allowed to acquire rights of indefinite duration for single payments. For efficiency, for adequate revenue and for justice, every user of land should be required to make an annual payment to the local government equal to the current rental value of the land that he or she prevents others from using.

Rights, Government, Land, Acquire, Current

But part of the job of economics is weeding out errors. That is much harder than making them, but also more fun.

Weed, Jobs, Fun, Job, Errors

Everything reminds Milton Friedman of the money supply. Everything reminds me of sex, but I try to keep it out of my papers.

Sex, Trying, Paper, Money, Reminds

There is not some glorious theoretical synthesis of capitalism that you can write down in a book and follow. You have to grope your way

Book, Ignorance, Way, Write, Writing

I remember once reading that it is still not understood how the giraffe manages to pump an adequate blood supply all the way up to its head; but it is hard to imagine that anyone would conclude tht giraffes do not have long necks. At least not anyone who had ever been to a zoo

Blood, Necks, Reading, Remember, Supply, Zoos

Computers show up everywhere except the growth statistics.

Computer, Computers, Except, Growth, Statistics

Suppose someone sits down where you are sitting right now and announces to me that he is Napoleon Bonaparte. The last thing I want to do with him is to get involved in a technical discussion of cavalry tactics at the Battle of Austerlitz. If I do that, I'm getting tacitly drawn into the game that he is Napoleon Bonaparte.

Austerlitz, Battle, Game, Games, Sitting, Technical

The fact that there is no such thing as a perfect anti-sepsis does not mean that one might as well do brain surgery in a sewer.

Mean, Perfect, Brain, Sewer, Thing

You can see the computer age everywhere but in the productivity statistics.

Age, Statistics, Computer, Everywhere

The world can, in effect, get along without natural resources, so exhaustion is just an event, not a catastrophe.

Effect, Events, Exhaustion, Natural, Resources, World

If God had meant there to be more than two factors of production, He would have made it easier for us to draw three-dimension al diagrams.

Als, Easier, God, Production, Three, Two

It is a good idea to be ambitious, to have goals, to want to be good at what you do, but it is a terrible mistake to let drive and ambition get in the way of treating people with kindness and decency. The point is not that they will then be nice to you. It is that you will feel better about yourself.

Dream, Inspirational, Kindness, Love, Mistake, Way

Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?

Doe, Economic, Economics, Ignorance, Participants, Public