Evsey Domar
| Post-Keynesian economics | |
|---|---|
| Born | April 16, 1914 Łódź, Russian Empire (now Poland) |
| Died | April 1, 1997 (aged 82) Concord, Massachusetts |
| Nationality | Russian American |
| Field | Political economy |
| Alma mater | University of California, Los Angeles University of Michigan Harvard University |
| Influences | John Maynard Keynes, John A. Hobson |
| Contributions | Harrod–Domar model |
Evsey David Domar (Russian: Евсей Дейвид Домашевицкий, Domashevitsky; April 16, 1914 – April 1, 1997) was a Russian American economist, famous as co-author of the Harrod–Domar model.
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Life [edit]
Evsey Domar was born on April 16, 1914 in the Polish city of Łódź, which belonged to Russia at that time. He was raised and educated in Russian Outer Manchuria, from where he emigrated to the United States in 1936.
He received his Bachelor of Arts from UCLA in 1939, a Master of Science from the University of Michigan in 1940, another Master of Science from Harvard University in 1943, and his doctorate from Harvard in 1947.
In 1946 Evsey Domar married Carola Rosenthal. The couple had two daughters.
He was professor at the Carnegie Institute of Technology, The University of Chicago, the Johns Hopkins University and, from 1957 until the end of his career, at the Massachusetts Institute of Technology.
Evsey Domar was a member of several academic organizations, like the American Academy of Arts and Sciences, the Econometric Society, and the Center for Advanced Study in the Behavioral Sciences. He was on the executive committee of the American Economic Association from 1962 until 1965, and became the organization's vice president in 1970.
He was also president of the Association for Comparative Economics. Furthermore he worked for the RAND Corporation, the Ford Foundation, the Brookings Institution, the National Science Foundation, the Battelle Memorial Institute, and the Institute for Defense Analysis.
Evsey Domar died on April 1, 1997 in the Emerson Hospital in Concord, Massachusetts.
Work [edit]
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.
Papers [edit]
- The Burden of the Debt and the National Income, 1944, AER.
- Proportional Income Taxation and Risk-Taking, with Richard Musgrave, 1944.
- Capital Expansion, Rate of Growth and Employment, 1946, Econometrica.
- Expansion and Employment, 1947, AER.
- The Problem of Capital Accumulation, 1948, AER.
- Capital Accumulation and the End of Prosperity, 1949, Proceedings of Internat. Statistical Conference
- The Effect of Foreign Investment on the Balance of Payments, 1950, AER.
- A Theoretical Analysis of Economic Growth, 1952, AER.
- Depreciation, Replacement and Growth, 1953, EJ.
- The Case for Accelerated Depreciation, 1953, QJE.
- Essays in the Theory of Economic Growth, 1957.
- On the Measurement of Technological Change, 1961, The Economic Journal 71:284 (Dec., 1961), 709-729. (jstor)
- The Soviet Collective Farm as a Producer Co-Operative, 1966, AER.
- An Index-Number Tournament, 1967, QJE.
- The Causes of Slavery or Serfdom: A hypothesis, 1970, Journal of Economic History.
- On The Optimal Compensation of a Socialist Manager, 1974, QJE.
Further reading [edit]
- John Edward King, The Elgar Companion to Post Keynesian Economics, Edward Elgar Publishing, 2003, p. 372.
External links [edit]
- Evsey D. Domar, 1914-1997 at eumed.net/Enciclopedia Virtual (shows photo of Domar)
- Inventory of the Evsey D. Domar Papers
- Reference information on Evsey Domar
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- 1914 births
- 1997 deaths
- Post-Keynesian economists
- University of California, Los Angeles alumni
- University of Michigan alumni
- Harvard University alumni
- Carnegie Mellon University faculty
- University of Chicago faculty
- Johns Hopkins University faculty
- Massachusetts Institute of Technology faculty
- Russian economists
- Soviet emigrants to the United States
- American people of Russian-Jewish descent
- American economists
