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.
Read more about this topic: Evsey Domar
Famous quotes containing the word work:
“Policy is the people you work with.”
—William Gaskill (b. 1930)
“There is absolutely no evidence—developmental or otherwise—to support separating twins in school as a general policy. . . . The best policy seems to be no policy at all, which means that each year, you and your children need to decide what will work best for you.”
—Pamela Patrick Novotny (20th century)
“Many a reformer perishes in his removal of rubbish,—and that makes the offensiveness of the class. They are partial; they are not equal to the work they pretend. They lose their way; in the assault on the kingdom of darkness, they expend all their energy on some accidental evil, and lose their sanity and power of benefit.”
—Ralph Waldo Emerson (1803–1882)