Robert Solow is Institute Professor Emeritus at the Massachu­setts Institute of Technology, where he has been a professor of economics since 1949. Professor Solow studied at Harvard and received the Nobel Prize in Economics in 1987 for his theory of growth. For a number of years he served as member of the Board of Directors of the Federal Reserve Bank of Boston and was Chairman of that Board for three years. He is past president of the American Economic Association and the Econometric Society, a member of the National Academy of Sciences, a Fellow of the British Academy, and former member of the National Science Board. He is currently a Foundation Scholar at the Russell Sage Foundation.