Evsey Domar was born on April 16, 1914, in the Polish city of Łódź, which was part of Russia at that time.
In 1965, he was the first recipient of the John R. Commons Award, given by the economics honor society Omicron Delta Epsilon.
Evsey Domar died on April 1, 1997, in the Emerson Hospital in Concord, Massachusetts 15 days before his 83rd birthday.
In 1946 he advanced the idea that economic growth served to lighten the deficit and the national debt.
He is most known for developing, independently of British economist Roy Forbes Harrod, what has become to be known as the Harrod–Domar model of economic growth.