Capital Theory and the Rate of Return

Capital Theory and the Rate of Return

Capital Theory and the Rate of Return

Capital Theory and the Rate of Return

Excerpt

Professor Robert M. Solow took his Ph. D. degree at Harvard University in 1951. From 1950 to 1954 he was Assistant Professor, from 1954-1958 Associate Professor and since 1958 he is full Professor at the Massachusetts Institute of Technology. From 1961-1962 he was Senior Economist at the Council of Economic Advisers and Haed of the U.S. Delegation to the O.E.C.D. Working Party on Policies for the Promotion of Economic Growth. Currently Professor Solow is Vice-President of the Econometric Society, the world organization of econometrists, implying that he will be its President in 1964.

Professor Solow is widely known for his penetrating work, both theoretical and empirical, in econometrics and more particularly in the fields of production functions and economic development. Very well versed in the mathematical treatment of economics he is the author or co-author of a number of thorough theoretical studies on these subjects, including their linear programming applications. Professor Solow, however, also made some substantial contributions to the statistical testing of production functions, implying research on the contribution made by technological development to productivity.

The F. de Vries Foundation feels honoured to be able to publish these lectures of a distinguished scholar.

J. Tinbergen.

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