Robert M. Solow is Institute Professor Emeritus at the Massachusetts Institute of Technology, where he has been a professor of economics since 1949. He taught macroeconomics and other subjects to undergraduate and graduate students until January, 1996. Professor Solow studied at Harvard and received the Nobel Prize in Economics in 1987 for his theory of growth. He is currently a member of the National Science Board. He is past president of the American Economics Association and the Econometrics Society, a member of the National Academy of Sciences and a Fellow of the British Academy. He has written articles and books on economic growth, macroeconomics, and the theory of unemployment.