David Cass

David Cass, born January 19, 1937 in Honolulu, Hawaii, died on April 15, 2008 in Philadelphia, Pennsylvania.

He was a professor of economics at the University of Pennsylvania. He received his doctorate in economics from Stanford University in 1965. His research interests include macroeconomics and monetary economics.

He was one of the parents of the neoclassical model of economic growth. Proposed by him simultaneously to Tjalling C. Koopmans, although independently, in 1965, he considers how an economy of rational agents that live over an infinite period behaves. These agents maximize their usefulness. One of the fundamental results is that the market solution is efficient. The model had been developed almost forty years earlier by Frank P. Ramsey, although at that time went unnoticed. Today it is the standard model in macroeconomics.

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