Work
Evsey Domar was a Keynesian economist. He has made contributions in three main areas of economics: economic history, comparative economics and economic growth. In 1946 he advanced the idea that economic growth served to lighten the deficit and the national debt. During the Cold War he was also an expert on Soviet economics.
He is most known for developing, independently of British economist Roy Forbes Harrod, what has become to be known as the Harrod–Domar model of economic growth. This model was the precursor to all modern growth models and differed only in its restrictive assumption of fixed proportions in production. The Solow-Swan growth model that followed several years later borrowed heavily from the Harrod-Domar model and used a variable proportions Cobb-Douglas production function.
Domar's 1961 paper is cited as the source of Domar aggregation, a set of rules and processes for combining industry growth data together to get aggregate industry sector or national growth.
Among his students was the economic historian Robert Fogel, who was awarded the Nobel Memorial Prize in Economics in 1993.
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Famous quotes containing the word work:
“Know that it is good to work. Work with love and think of liking it when you do it.”
—Brenda Ueland (1891–1985)
“‘Tis not need we know our every thought
Or see the work shop where each mask is wrought
Wherefrom we view the world of box and pit,
Careless of wear, just so the mask shall fit
And serve our jape’s turn for a night or two.”
—Ezra Pound (1885–1972)
“I did nothing but work. I made work my hobby. I was lucky that way.”
—Mary Roebling (1905–1994)