Robert Solow, Nobelist who tied technology to economic growth, dies at 99
Awards
The Royal Swedish Academy of Sciences awarded Solow the 1987 Nobel in economics for developing a mathematical model for expanding production, part of a field that became known as growth accounting. “Solow’s growth model constitutes a framework within which modern macroeconomic theory can be structured,” the Nobel organization said in announcing his award.
In a series of articles published from 1956 to 1960, Solow had demonstrated that prevailing growth models were inadequate because they focused narrowly on increases in capital and labor.
Solow died on Thursday at his home in Lexington, Massachusetts, the New York Times reported, citing his son.
Robert Solow, an economics professor at the Massachusetts Institute of Technology who won a Nobel Prize for his analysis of how technology drives economic growth in developed nations, has died. He was 99.
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