Wassily leontief and the discovery of the inputoutput. Inputoutput economics edition 2 by wassily leontief. Wassily leontief 1905a1999 was the founding father of inputoutput economics, for which he received the nobel prize in 1973. Theoretical assumptions and nonobserved facts by wassily leontief economics today rides the crest of intellectual respectability and popular acclaim. While always prepared to speak on his scholarly work and contribute his view on a. Discussion by wassily leontief, american journal of agricultural economics, agricultural and applied economics association, vol. Wassily leontief and inputoutput economics edited by erik. Outstanding contributions to the field economics siu. Indications of changes in the demand for agricultural products. Wassily leontief the history of economic thought website. Cambridge core economic thought, philosophy and methodology wassily leontief and inputoutput economics. Klein and ryan daza econ journal watch 103, september 20. His grandfather owned a successful textile mill in the city. The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation of economics into a truly empirical.
The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation ofeconomics into a truly empirical discipline that could utilize modern data processing technology. The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation of. Wassily leontief was the founding father of inputoutput economics, for which he received the nobel prize in 1973. Leontief was a student at the university of leningrad 192125 and the university of berlin 192528. From 1961 to 1963 he was a senior economist with president john f. Special issue in honor of wassily leontief sciencedirect. Petersburg, russiadied february 5, 1999, new york, new york, u. Wassily leontief biography facts, childhood, family life. Wassily leontief received the nobel prize in economics in the 5 year 1973 after it was instituted in 1969.
Leontief, a professor of labor economics at the university of st. His father was a professor of labor economics at the university of st. The serious attention with which our pronouncements are received by the general public, hardbitten politicians, and even skeptical businessmen is second only to that which was given to. The percentages given above are those corresponding to only those names that appear explicitly on the list below i. Robert solow was awarded the nobel prize in 1987 for his contributions to the theory of economic growth. Wassily leontief, russianborn american economist who has been called the father of inputoutput analysis in econometrics and who won the nobel prize for economics in 1973. Wassily leontiefs name has been associated with a particular type of quantitative. It talks about the details of leontieff model and it explains clearly the stochastic models unlike any other books. Wassily wassilyevich leontief was born on august 5, 1906 in munich, germany. This book offers a collection of papers in memory of leontief by his students and close colleagues. Jewish nobel prize winners in economics 39% of world total, 50% of us total jinfo. Wassily leontief 19051999 is credited with the development of this analysis.
Other articles where leontief paradox is discussed. His greatest contribution to economic theory is the formulation of inputoutput models for which he was awarded the nobel prize in 1973. Wassily leontief, aka the general manager of the planned economy. August 5, 1905 february 5, 1999, was a russianamerican economist known for his research on inputoutput analysis and how changes in one economic sector may affect other sectors leontief won the nobel committees nobel memorial prize in economic sciences in 1973, and four of his doctoral. Wassily leontief, 19061999 a general equilibrium method of analysis, inputoutput models examine economic activity by studying the relationships between sectors. This is a volume of papers organized by professor leontief for the 1976 meeting of the economics section of the british association for the advancement of science. In it he presented a mathematical model of growth that was a version of the harroddomar growth model see roy f. Leontief was a professor of economics and belonged to the wealthy dynasty of merchants of st. F rom the time he was a young man growing up in saint petersburg, wassily leontief devoted his studies to inputoutput analysis. From the time he was a young man growing up in saint petersburg, wassily leontief devoted his studies to inputoutput analysis.
Some basic problems of empirical inputoutput analysis. Wassily leontief was the founding father of inputoutput economics, for which he. Wassily leontief 19061999 wassily leontief was a russian born economist, and econometrician, first taught in germany then in 1931, joined economist department at harvard university where he has remained ever since. Wassily wassilyevich leontief 19051999 was an american economist of russian descent. A aristotle when asked what his greatest contribution to mathematics was, professor g.
This collection of writings provides the only comprehensive introduction to the inputoutput model for which leontief was awarded the nobel prize in 1973. Oct, 2017 in 1953, wassily leontief published studies on the structure of the american economy. Inputoutput economics wassily leontief oxford university. This collection contains key articles that critically assess leontiefs contribution to economics, as well as a number of articles that build on his economic theories. In economics, an inputoutput model uses a matrix representation of a nations or a regions economy to predict the effect of changes in one industry on others and by consumers, government, and foreign suppliers on the economy.
His mother genya becker also hailed from a wealthy jewish family. This book offers a collection of papers in his memory by his students and close colleagues. Among his famous books are inputoutput economics 1966 and the structure of the american economy 19191929 1941. Hardy said that it was the discovery of number theorist srinivasa ramanujam. In honor of wassily leontiefs 90th birthday faye duchin. Inputoutput analysis belongs to that branch of economics pioneered by nineteenth century french economist, leon walras. Wassily leontief was slaving away to assemble and compute the data that would show precisely how the. But it was not until many years later, in 1941, while a professor at harvard. This book offers a collection of papers in memory of. The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation of economics into a truly empirical discipline that could. The first part, reflections on inputoutput economics, focuses upon leontief as a person and scholar as well as his personal contributions to economics. In 1953, wassily leontief published studies on the structure of the american economy.
Wassily leontief and inputoutput economics request pdf. Wassily leontief was slaving away to assemble and compute the data that would show precisely how the american economy fits together and works the. Like all great intellectual pioneers, wassily leontief has inspired a new generation of researchers. Wassily leontief father of the inputoutput analysis model. This book offers a collection of papers in his memory by his students and close. From 1975 he was member of the department of economy of the university of new york, as well as of numerous institutions and scientific associations. For over twenty years, he was the henry lee professor of economics at harvard university. Wassily leontief father of the inputoutput analysis. This book offers a collection of papers in his memory by his students and. However, leontiefs contribution to economics is to be found not merely in his development of inputoutput but also in his conception of the subject as a practical, problemsolving discipline grounded in the collection and processing of actual data and the use of simplified but applicable analytical tools. The wassily leontief personal archive documents leontiefs academic and professional activity from 1928 to 2001. Wassily leontief ideological profiles of the economics. In 1921 leontief entered the university of leningrad and read the classics of political economics, while alf around. He was a critic of economists that were reluctant to get their hands dirty by.
Wassily leontief was born into an academic family on august 5, 1905, in saint petersburg, russia. Org listed below are recipients of the nobel prize in economics who were, or are, jewish or of half or threequartersjewish descent, as noted. However, as leontief pointed out, though the united states has more capital than most other nations, the majority of its exports were of. Professor lahiris contribution to the inputoutput models was so significant that when professor leontief passed away, professor lahiri was asked by the editor of one of the top journals, economic journal ranked as 5 on a scale of 1 to 5, 5 being the best, published by the royal economic society, to write an obituary on professor wassily. Russianamerican economist notable for his research on how changes in one economic sector may have an effect on other sectors. The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation of economics into a truly empirical discipline that could utilize modern data processing technology. Wassily leontief this collection of writings provides the only comprehensive introduction to the inputoutput model for which leontief was awarded the nobel prize in 1973. Wassily leontief was born on august 5, 1906, in munich, germany, the son of wassily w. He earned his undergraduate degree from the university of saint petersburg. The structural approach to economics developed by leontief, and known as inputoutput analysis, paved the way for the transformation of economics into a truly empirical discipline that could utilize modern data.
His greatest contribution to economic theory is the formulation of inputoutput models for which he was awarded the nobel. After a paper by professor leontief applying inputoutput to the future of the world economy, other papers consider prices. This collection contains key articles that critically assess leontief s contribution to economics, as well as a number of articles that build on his economic theories. The leontief model is a model for the economics of a whole country or region. Wassily leontief has been the great pioneer of operational economics. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Wassily leontief had for analyzing social and economic phenomena. Wassily leontiefs contribution to economics 431 tief matrices. In the model there are n industries producing n di erent products such that the input equals the output or, in other words, consumption equals production. He has also made contributions in other areas of economics, such as international trade where he documented the leontief. Leontiefs contributions to economics were not limited to input output. Leontief model wassily leontief won the nobel prize in economics in 1973.
At the age of fifteen, leontief junior moved to the university of leningrad in 1921. Upon completing his doctoral dissertation at the university of berlin in 1928, leontief started his professional life at the institute of world economics at the university. Although of fluctuating popularity, inputoutput analysis has been a mainstay of economics and economic policy and planning since leontief introduced it in the 1940s. More than any other economist he has sttressed the integration of theory with a carefully designed database.
He is currently emeritus institute professor of economics at the massachusetts institute of technology, where he has been a professor since 1949. His first major paper on growth was a contribution to the theory of growth. Petersburg, belonged to an oldbeliever family living in that city since 1741. But it was not until many years later, in 1941, while a professor at harvard, that leontief calculated an inputoutput table for the american economy. Download for offline reading, highlight, bookmark or take notes while you read inputoutput economics. Wassily leontief was born into an erudite family on 5th august 1905.
Biography of wassily leontief a great american economist. Leontief professor of economics and zlata german spelling slata. Economists had previously held that a countrys exports reflect the commodity most abundant in that countryi. Mathematics in economics, in bulletin of the american mathematical society, 603, may 1954, pp 215233 in the issue of pp 207302. Structure, system and economic policy by w leontief. Since leontiefs name is associated with inputoutput analysis, its theory and applications are well brought out in this book and the contributions are mainly from authors of china and japan who are connected with the input. Listed below are recipients of the nobel prize in economics who were, or are, jewish or of half or threequartersjewish descent, as noted. When he left russia at the age of nineteen to begin the ph. Hardy said that it was the discovery of number theorist srinivasa r. Wassily leontief was a russian born economist, and econometrician, first taught in germany then in 1931, joined economist department at harvard university where he has remained ever since.
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