Roy Harrod

Roy F. HarrodRoy Forbes Harrod (1900-1978) was an English economist, friend and a follower of John Maynard Keynes. He published a wide variety of economic papers, many of which were on economic growth, but he also conducted research on currency and inflation. In addition, he also wrote about memory and the theory of knowledge, reflecting on probability as a limitation to induction. Through his works underlines a dynamic view of the economy, more sophisticated and realistic than the static view of most theorists.

However, Harrod is best known for his work “The life of John Maynard Keynes”, 1951, a biography of his fellow. He is also known for developing what is nowadays known as the Harrod–Domar model that was initially proposed by him in 1939 and later developed independently by Evsey Domar. This theory was a pioneering mathematical model about the dynamics of economic growth that laid the foundations of the economic growth theory after World War II.