Robert Solow

Robert Solow is an influential American economist best known for his work on economic growth theory. He developed the Solow-Swan model, which explains how capital accumulation, labor, and technological progress contribute to economic growth over time. His research emphasizes the role of technology in boosting productivity and improving living standards. Solow's insights underline that simply increasing capital or labor is not enough for sustained growth; innovation and advancements are crucial. He was awarded the Nobel Prize in Economics in 1987, recognizing his significant contributions to understanding how economies evolve and grow.