US Nobel laureate in economics dies at age 99
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Nobel laureate Robert Solow dies at age 99
American economist Robert Solow, winner of the 1987 Nobel Prize in Economics, died on December 21 at the age of 99 at his home in Lexington, Massachusetts. Robert Solow’s son, John, announced this in an interview The New York Times.
Born in Brooklyn in 1924, Robert Solow created a model of economic growth in 1956, better known as the neoclassical growth model. Using this model, he determined that about 4/5 of US industrial production per capita is due to technological progress.
For his fundamental research in the field of economic growth theory, Robert Solow was awarded the Nobel Prize in 1987. In 2014, former US President Barack Obama presented him with one of the most prestigious American awards – the Presidential Medal of Freedom.
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