Robert Solow, the US economist who won the 1987 Nobel Prize for economics, has died. He was 99.
Solow won the most prestigious award in economics for his work on growth theory, with the model that bears his name becoming a staple of macroeconomics textbooks. The Solow model shows the role savings and investment play in generating stable growth over the long term.
He was also known for highlighting the role of technological innovation — and economies’ capacity to adapt to it — as the ultimate force behind sustained economic prosperity.
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