As a member of the Council of Economic Advisors (1971–1973) during the Nixon administration, he was seen as having contributed significantly to the change in US monetary policy which resulted in the end of the gold standard for US currency and of the Bretton Woods system of exchange rates.

[1] He graduated with a first class honours degree in economics from the University of Rangoon in 1940, but fled the country when the Japanese invaded Burma in 1941.

[2] Solomon returned to teaching full-time in 1963, and became the Stanford Graduate School of Business's first Dean Witter Distinguished Professor of Finance.

[5] His most well-known book, The Theory of Financial Management (1963) revolutionized the study of finance from a descriptive to a rigorous, theory-based discipline founded on mathematics.

[2] In Fall 1962, Solomon and his wife purchased a historic 1914 Tudor-style country cottage on Santa Ynez Drive in Stanford, California.