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From Exploratory Modeling to Technical Expertise: Solow’s Growth Model as a Multipurpose Design

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  • Verena Halsmayer

Abstract

Combining concrete policy-oriented modeling strategies of World War II with what was received as traditional neoclassical theory, in 1956 Robert Solow constructed a simple, clean, and smooth-functioning “design” model that served many different purposes. As a working object, it enabled experimentation with utopian long-run equilibrium growth. As an instrument of measurement, it was applied to time-series data. As a prototype, it was supposed to feed into larger-scale econometric models that were, in turn, thought of as technologies for policy advice. Used as a teaching device, Solow’s design became a medium of “spreading the technique” and one of the symbols for neoclassical macroeconomics that soon became associated with MIT.

Suggested Citation

  • Verena Halsmayer, 2014. "From Exploratory Modeling to Technical Expertise: Solow’s Growth Model as a Multipurpose Design," History of Political Economy, Duke University Press, vol. 46(5), pages 229-251, Supplemen.
    • Handle: RePEc:hop:hopeec:v:46:y:2014:i:5:p:229-251
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    Citations

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    Cited by:

    1. Quentin Couix, 2019. "Natural resources in the theory of production: the Georgescu-Roegen/Daly versus Solow/Stiglitz controversy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 26(6), pages 1341-1378, November.
    2. Nicol`o Cangiotti & Mattia Sensi, 2020. "Exact solutions for a Solow-Swan model with non-constant returns to scale," Papers 2008.05875, arXiv.org.
    3. Juan Pablo Castilla, 2020. "To Kill a Black Swan: The Credibility Revolution at CEDE, 2000-2018," Documentos CEDE 18366, Universidad de los Andes, Facultad de Economía, CEDE.
    4. Dorian Jullien, 2018. "Practices of Using Interviews in History of Contemporary Economics: A Brief Survey," Post-Print halshs-01651053, HAL.
    5. Dorian Jullien, 2019. "Interviews and the Historiographical Issues of Oral Sources," Post-Print halshs-01651062, HAL.

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    Keywords

    MIT; growth theory; Robert Solow;
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