| 1 | Name: | Dr. Robert M. Solow | |
| Institution: | Massachusetts Institute of Technology | ||
| Year Elected: | 1980 | ||
| Class: | 3. Social Sciences | ||
| Subdivision: | 302. Economics | ||
| Residency: | Resident | ||
| Living? : | Deceased | ||
| Birth Date: | 1924 | ||
| Death Date: | December 21, 2023 | ||
Robert Solow is one of the major figures of the Neo-Keynesian Synthesis macroeconomics. Together with Paul Samuelson, he formed the core of the M.I.T. economics department which has been widely viewed as the "mainstream" of the post-war period. Together, Solow and Samuelson have contributed to various landmark pieces of work: e.g. on von Neumann growth theory (1953), on capital theory (1956), on linear programming (1958) and on the Phillips Curve (1960). Individually, Robert Solow is best known for his work on the Neoclassical growth model (1956, 1970). He was also one of the co-inventors of the constant elasticity of substitution (CES) production function (1961) and is responsible for exploring and popularizing the "long-run multiplier" derived from a dynamic government budget constraint (1973). It was Dr. Solow's work on growth that earned him a Nobel Memorial prize in 1987, and he has also been awarded the John Bates Clark Medal (1961) and the Presidential Medal of Freedom (2014) for his efforts. Robert Solow holds a Ph.D. from Harvard University (1951); since 1949 he has served on the faculty of the Massachusetts Institute of Technology, where he is presently Institute Professor Emeritus. | |||