Top 17 Quotes & Sayings by Robert Solow

Explore popular quotes and sayings by an American economist Robert Solow.

Last updated on December 3, 2024.

Robert Merton Solow, GCIH is an American economist whose work on the theory of economic growth culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond and William Nordhaus later received Nobel Memorial Prizes in Economic Sciences in their own right.

American - Economist | Born: August 23, 1924

Source: Wikipedia

Growth theory did not begin with my articles of 1956 and 1957, and it certainly did not end there. Maybe it began with 'The Wealth of Nations'; and probably even Adam Smith had predecessors.

Robert Solow

The wealth-income ratio in the United States has always been lower than in Europe. The main reason in the early years was that land values bulked less in the wide open spaces of North America. There was, of course, much more land, but it was very cheap.

Robert Solow

We have fluctuations all the time, business cycles, and they come about in various ways, but normally what sets them off is some reduction in the willingness of our population, our businesses, and foreigners to buy.

Robert Solow

The key thing about wealth in a capitalist economy is that it reproduces itself and usually earns a positive net return.

Robert Solow

Suppose someone sits down where you are sitting right now and announces to me that he is Napoleon Bonaparte. The last thing I want to do with him is to get involved in a technical discussion of cavalry tactics at the Battle of Austerlitz. If I do that, I'm getting tacitly drawn into the game that he is Napoleon Bonaparte.

Robert Solow

The fact that there is no such thing as a perfect anti-sepsis does not mean that one might as well do brain surgery in a sewer.

Robert Solow

But part of the job of economics is weeding out errors. That is much harder than making them, but also more fun.

Robert Solow

Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of the paper.

Robert Solow

I remember once reading that it is still not understood how the giraffe manages to pump an adequate blood supply all the way up to its head; but it is hard to imagine that anyone would conclude tht giraffes do not have long necks. At least not anyone who had ever been to a zoo

Robert Solow

Why does a public discussion of economic policy so often show the abysmal ignorance of the participants?

Robert Solow

The user of land should not be allowed to acquire rights of indefinite duration for single payments. For efficiency, for adequate revenue and for justice, every user of land should be required to make an annual payment to the local government equal to the current rental value of the land that he or she prevents others from using.

Robert Solow

It is a good idea to be ambitious, to have goals, to want to be good at what you do, but it is a terrible mistake to let drive and ambition get in the way of treating people with kindness and decency. The point is not that they will then be nice to you. It is that you will feel better about yourself.

Robert Solow

If God had meant there to be more than two factors of production, He would have made it easier for us to draw three-dimension al diagrams.

Robert Solow

Computers show up everywhere except the growth statistics.

Robert Solow

There is not some glorious theoretical synthesis of capitalism that you can write down in a book and follow. You have to grope your way

Robert Solow

The world can, in effect, get along without natural resources, so exhaustion is just an event, not a catastrophe.

Robert Solow

You can see the computer age everywhere but in the productivity statistics.

Robert Solow