Robert Solow (Economist)

Robert Solow is an influential American economist known for his work on economic growth. In the 1950s, he developed the Solow Growth Model, which explains how capital accumulation, labor, and technological advancement contribute to a country's economic output. His model highlights that long-term growth is primarily driven by technological progress rather than just increased labor or capital. Solow's insights have shaped modern economic thinking, emphasizing the importance of innovation and productivity in fostering sustainable economic development. For his contributions, he received the Nobel Prize in Economic Sciences in 1987.