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:
“What you would work me to, I have some aim.”
—William Shakespeare (1564–1616)
“You say that you do not succeed much. Does it concern you enough that you do not? Do you work hard enough at it? Do you get the benefit of discipline out of it? If so persevere. Is it a more serious thing than to walk a thousand miles in a thousand successive hours? Do you get any corns by it? Do you ever think of hanging yourself on account of failure?”
—Henry David Thoreau (1817–1862)
“I do not want to be covetous, but I think I speak the minds of many a wife and mother when I say I would willingly work as hard as possible all day and all night, if I might be sure of a small profit, but have worked hard for twenty-five years and have never known what it was to receive a financial compensation and to have what was really my own.”
—Emma Watrous, U.S. inventor. As quoted in Feminine Ingenuity, ch. 8, by Anne L. MacDonald (1992)