Robert Solow - One of the great economists of the 20th century died

 

Robert Solow was a one of the great economists of the 20th century. He drove thinking about growth theory with the importance of technical change over the value of labor and capital as the key input for economic advancement. Everyone who studied growth theory and technological change has started with the Solow growth model. 

He was a great teacher who influenced generations of MIT economists. He was an economist's economist who helped many future Nobel prize winners with their theories and models.

His insights were across the board but there is one that stick in my mind when thinking about communication and noise. 

"If you make communications cost less, you’ll get messages of zero value."