Robert Solow

Economist Theorist American 1924 – 2023

Developed growth accounting and neoclassical growth model.

387 quotes

"The economy is like a vast machine, but we're still learning how it works."
Philosophy
"Diminishing returns is an iron law, but innovation can break it."
Creativity
"What gets measured gets managed; what doesn't gets ignored."
Work
"The residual represents the frontier of our ignorance."
Knowledge
"Growth without productivity improvement is unsustainable."
"We measure what we can, not necessarily what matters most."
Wisdom
"The connection between education and growth is undeniable."
Education
"Capital and labor alone are insufficient for sustained prosperity."
Success
"Every economy faces the challenge of maintaining productivity growth."
Work
"Time is the ultimate constraint on growth."
Time
"Innovation distinguishes growing economies from stagnant ones."
Creativity
"The economy rewards efficiency and punishes waste."
Justice
"Understanding growth means understanding how knowledge spreads."
Knowledge
"Long-term prosperity requires continuous adaptation."
Change
"The paradox of growth is that it requires both stability and change."
Wisdom
"Labor quality matters as much as labor quantity."
Work
"Economic models are useful fictions for understanding reality."
Philosophy
"Growth accounting reveals what we've accomplished and what we've missed."
Science
"The future belongs to those who invest in knowledge."
Education
"Capital concentration without innovation leads to stagnation."
Success
"Progress is measurable but not inevitable."
Hope
"The residual captures all that we do not yet understand."
"Growth requires both resources and ideas."
Creativity
"Productivity is the ultimate measure of economic health."
Work
"We stand on the shoulders of previous innovations."
History
"Time preference is fundamental to all economic decisions."
Time
"The distribution of growth raises moral questions."
Justice
"Technology is embedded in how we work and live."
Technology
"Growth without purpose is growth without meaning."
Philosophy
"The economy operates on principles both known and unknown."
Science