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:
“I work all day, and get half-drunk at night.
Waking at four to soundless dark, I stare.
In time the curtain-edges will grow light.
Till then I see what’s really always there:
Unresting death, a whole day nearer now,
Making all thought impossible but how
And where and when I shall myself die.”
—Philip Larkin (1922–1986)
“... there is no way of measuring the damage to a society when a whole texture of humanity is kept from realizing its own power, when the woman architect who might have reinvented our cities sits barely literate in a semilegal sweatshop on the Texas- Mexican border, when women who should be founding colleges must work their entire lives as domestics ...”
—Adrienne Rich (b. 1929)
“Work is a sovereign remedy for all ills, and a man who loves to work will never be unhappy.”
—Ellen Henrietta Swallow Richards (1842–1911)