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Vasily Leontiev

( American economist, Nobel Memorial Award in Economics, 1973)

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Biography Vasily Leontiev
August 5, 1906, Mr.. - Feb. 8, 1998
American economist Wassily Leontief was born in St. Petersburg (Russia). His parents - Wassily Leontief, a professor of economics, and Eugenia (nee Becker) Leontief. Years of Childhood L. were a time of great social and political upheavals. He was eight years old when the First World War. He was a direct witness to turmoil of the Russian Revolution and retained in the memory of Lenin's speech at a rally at the Winter Palace in Petrograd, which was attended.
Entering in 1921. University of Leningrad, first studied philosophy and sociology, and then economic sciences. After graduating in 1925. He continued his education at the University of Berlin. In 1927 ... 1928., While still a student, he began his professional career as a research assistant, Keele University. At the age of 22 he received a doctorate in economics.
Next year L. spent Pankin as an economic adviser at the Ministry of Railways of China. After emigrating in 1931. in the United States, he joined the National Bureau of Economic Research. In 1932, Mr.. He married poet Estella Helen Marx. Their only daughter, Svetlana Alpers (by marriage) later became a professor of art history at the University of California at Berkeley.
L. began his long work in the United States at Harvard University in 1931. as a teacher of Economics. In 1946, Mr.. He became a full (real) Professor. Two years later he founded the Harvard Economic Research Project - Research Center for analysis by the method of 'costs - Issue' - and led the project until its closure in 1973. Ibid, at Harvard University, A. headed the department of political economy the Henry Fox 1953 to 1975, then took the post of Professor of Economics and Director of the Institute for Economic Analysis at New York University.
Since the publication in 1936. his first article on the method of 'costs - the release of' scientific works L. distinguished by high analytical rigor and a broad range of interests to the general economic issues. Although L. he is a trained mathematician, he constantly criticized attempts to apply mathematical theories to explain the world's economic problems. In his view, the economy is among the applied sciences, and its theory can be useful if they are empirically implemented in life.
. This view is clearly seen already in his first book 'Structure of the American economy, . 1919 ... 1929.: An empirical application of equilibrium analysis' ( "The Structure of the American Economy, . 1919 ... 1929: An Empirical Application of Equilibrium Analysis "), . published in 1941,
. This original work. describe the methods of economic analysis 'costs - Issue', formed the basis of the reputation R. as an outstanding innovator in the field of economy. However, the recognition of his system in a world beset by the Great Depression, it is not immediately. The most painful economic problems then were chronic unemployment and the instability of the capitalist economy. Then the whole world listened to the British economist John Maynard Keynes, who published in 1936. book entitled 'General Theory of Employment, Interest and Money' ( "The General Theory of Employment, Interest, and Money").
During the Second World War, unemployment as the problem has disappeared, but after the war again deteriorated sharply. It was then that the first time the Bureau of Labor Statistics of the United States asked the Leontief method 'costs - Issue'. First, in 1939, and then in 1947. Model A. was used to predict how the general employment and employment by sector will evolve as the economy moves from peace to war and back. Business disarmament and subsequently became one of the subjects of research Leningrad, was deeply interested in his life. Less than 10 years after the work undertaken by the Bureau of Labor Statistics, the method of L. became the main part of systems of national accounts of most countries, both capitalist and socialist. He applied and perfected so far by government and international organizations and research institutes around the world.
. Analysis by the method of 'costs - issue' refers to the area economy, founded by the French economist, in the XIX
. Leon Walras, and which is known as the theory of general equilibrium. It brings into focus the interdependence of economic relations, provided by the system of equations expressing the economy as a whole. Since its start, the L. recognized system of interdependencies Walras. But before the systematic application of L. these interdependencies, in practice, analysis of general equilibrium is not used as tools in the policy making process. Before innovations L. the main method in the main stream of economic science was a partial equilibrium analysis, which places the focus of a small number of changing variables. For example, the economist could calculate how the tax on imported oil could affect the demand for gasoline, while ignoring any long-term consequences that this tax could bring in the steel industry. Economists have long been aware of the fact that the analysis of partial equilibrium seriously distorts reality, if the extent or degree of industry changes that have been examined, are large enough.
Application A. Walras system to solve this problem and analysis of L. the method of 'costs - the release of' connected with the preparation of chess tables (chess balances). This table divides the economy into a large number of industries (sectors) - initially for 44 sectors. Sales of intermediate products and finished goods sectors listed in the left side of the table, fit into the vertical columns under the names of their respective sectors, recorded in the same order in the top horizontal row. Second table, . or grid, . composed of 'technical coefficients', . derived from the closed model of chess table When these factors are placed in the system of equations, . are solved simultaneously, . is one third table, . called 'inversion L.', . which shows, . is required from each sector for the increase in total output per dollar.,
. The value of inversion L
. determined by three circumstances. First, its use has led to improvements in the collection of international economic and statistical data, quantitative grown incredibly in recent decades. Secondly, the inversion of the details reveals the work of the internal mechanism of the economy, with the limiter acts only awkwardness of the calculations. Third, . after assessing the demand for finished goods or determine its prospects for the inversion can be used for the analysis of economic policy, . because it shows - and directly, . indirectly, . - What is required from each sector in the form of cost to increase production of these goods.,
. L
. perfected his system for 50's and 60's. With the advent of more sophisticated computers, he increased the number of sectors and are exempt from some of the simplifying assumptions, . primarily on the conditions, . that technical factors remain unchanged, . despite the change in prices and technological progress,
. To explore the problem of economic growth and development, L. developed a dynamic version of the first static analysis model 'costs - Issue', the addition of the indicators of capital requirements to the list of so-called final demand, or final sales. Since the method of 'costs - Issue' proved its usefulness as an analytical tool in the new field of regional economics, chess balances began to be compiled for the management of some U.S. cities. Gradually, the formulation of such balance becomes a standard operation. The Ministry of Commerce of the United States, for example, inter-sectoral management of the economy started to publish such statements every five years. United Nations, . World Bank and most governments, . including the Government of the Soviet Union, . also involved in work on the application of analysis 'costs - Issue' as an important method of economic planning and budgeting of government policy.,
. Analysis by the method of 'costs - Issue' is no less productive tool and fundamental economic research, in which N
. continued to work in important areas. For example, starting as Walras, with constant technical coefficients, A. later became the adaptive coefficients to the price relations and technological development.
In the mid 50-ies. he proved that U.S. exports has more labor than imports, thus posing a challenge to the basic tenet of international trade theory. Known as the 'paradox of LA', this fundamental principle has become a source of a deeper understanding of the structure of trade between countries.
A success. the application of models of economic analysis 'costs - Issue' in no small measure due to his outstanding abilities as an economist generalist, . having diverse interests in many areas, . such, . example, . as the theory of international trade, . theory of monopoly, . Econometrics,
. A ratio. the methodology was clearly expressed during the decades of his scientific activity. He railed against the 'implicit' as he termed it, of economic theorizing, the inherent line of Cambridge School (John Hicks and Keynes). In his book "Essays in Economics: Theory and theorizing '(" Essays in Economics: Theories and Theorizing ", 1966) A. wrote: 'What counts above all, the relevance of the basic material assumptions, . ability to effectively use all the evidence, . available to, . and identify promising directions for further theoretical research and empirical search '.,
. L
. was awarded the Nobel Memorial Award in Economics in 1973. 'for the development of the method' costs - Issue 'and for its application to important economic problems'. As one of the first economists. concern at the impact of economic activity on environmental quality, L. quoted in his Nobel lecture, a simple model of 'costs - Issue', referring to the global environment, in which pollution is clearly figured as a separate sector. 'In less developed countries, - he concluded - the introduction of softening of the strict standards against pollution of the environment ... will increase employment, although it will require some of the victims in the sphere of consumption '.
A Study. the impact of various economic policies on the environment and the global economy continued in the future. Interim results of studies A. in this area were published in 1977. in a book 'The Future of the world economy' ( "The Future of the World Economy").
. His work on the problems of the world economy, especially on inter-sectoral relationships, continuing under the auspices of the United Nations and the Institute for Economic Analysis at New York University
. Analysis by the method of 'costs - the release of' recognized classic tool in the economy, and L. along with Keynes, say scientists who have made a major contribution to economic science in the XX. L. is an American citizen.
In addition to the Nobel Prize, he was elevated to the rank of Officer of Legion of Honor of France. He - a member of the U.S. National Academy of Sciences, the American Academy of Arts and Sciences. British Academy and the Royal Statistical Society in London. He served as president of the Econometric Society in 1954. and the American Economic Association in 1970. Among others, he was awarded honorary doctoral degrees university of Brussels, York, Louvain, Paris.

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Vasily Leontiev, photo, biography
Vasily Leontiev, photo, biography Vasily Leontiev  American economist, Nobel Memorial Award in Economics, 1973, photo, biography
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