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:
“Lord, do you not care that my sister has left me to do all the work by myself? Tell her then to help me.”
—Bible: New Testament, Luke 10:40.
Martha to Jesus.
“Gustav Aschenbach was the writer who spoke for all those who work on the brink of exhaustion, who labor and are heavy-laden, who are worn out already but still stand upright, all those moralists of achievement who are slight of stature and scanty of resources, but who yet, by some ecstasy of the will and by wise husbandry, manage at least for a time to force their work into a semblance of greatness.”
—Thomas Mann (1875–1955)
“It seemed pathetic and terrible to me and it still does, that men and women work eight hours a day at jobs that bring them no joy, no reward save a few dollars.”
—Hortense Odlum (1892–?)