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Sir Roy F. Harrod: Pioneer of Modern Economic Theory

Sir Roy F. Harrod (1900-1978), born in London, was a prominent economist who studied at Oxford. He dedicated most of his career to Christ Church, with brief interruptions for World War II and advising the International Monetary Fund. Harrod authored the official biography of John Maynard Keynes and contributed to various fields, including philosophy, logic, and economics. His notable achievements include the “Essay in Dynamic Theory” (1939), which advanced the modern theory of growth. He also served as a personal advisor to Winston Churchill during WWII.

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Sir Roy F. Harrod: Pioneer of Modern Economic Theory

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  1. English economist, born in London. He studied at Oxford and, apart from a short break for service in World War II, and again as adviser to the International Monetary Fund in the early 1950s, he remained there, at Christ Church, throughout his career (1922-1967). He wrote the official biography of Keynes (1951), and wrote also on philosophy and logic as well as economics. He made several other discoveries more or less in parallel with others (the marginal revenue curve, the long-run envelope of short-run average cost curves, the theory of imperfect competition, the multiplier-accelerator model, and the IS-LM model). At last, another discovery brought him recognition: Harrod’s “Essay in Dynamic Theory” (1939). The idea, which marked the beginning of the modern theory of growth, had also been developed by Domar, but at least Harrod got his name on the model this time. He was personal advisor to Winston Churchill during World War II. Sir Roy F. Harrod(1900-1978)

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