Abba Ptachya Lerner (October 28, 1903 - October 27, 1982) was an American economist. October 28 is the 301st day of the year (302nd in leap years) in the Gregorian Calendar, with 64 days remaining. ... 1903 (MCMIII) was a common year starting on Thursday (see link for calendar). ... October 27 is the 300th day of the year (301st in leap years) in the Gregorian Calendar, with 65 days remaining. ... 1982 (MCMLXXXII) is a common year starting on Friday of the Gregorian calendar. ...

Lerner was born on October 28, 1903 in Bessarabia. He grew up in a Jewish family, which emigrated to Great Britain, when Lerner was three years old. Lerner grew up in the London East End. From the age of sixteen he worked as a machinist, a teacher in Hebrew schools, and as a businessman. He entered the London School of Economics in 1929. A six month stay at Cambridge in 1934-1935 brought him into contact with John Maynard Keynes. October 28 is the 301st day of the year (302nd in leap years) in the Gregorian Calendar, with 64 days remaining. ... 1903 (MCMIII) was a common year starting on Thursday (see link for calendar). ... Old map of Bessarabia Bessarabia or Bessarabiya (Basarabia in Romanian, Besarabya in Turkish) was the name by which the Imperial Russia designated the eastern part of the principality of Moldavia annexed by Russia in 1812. ... The word Jew ( Hebrew: יהודי) is used in a wide number of ways, but generally refers to a follower of the Jewish faith, a child of a Jewish mother, or someone of Jewish descent with a connection to Jewish culture or ethnicity and often a combination of these attributes. ... Part of the London skyline viewed from the South Bank London is the most populous city in the European Union, with an estimated population on 1 January 2005 of 7,421,328 and a metropolitan area population of between 12 and 14 million. ... The term East End is most commonly used to refer to the East End of London. ... Hebrew is a Semitic language of the Afro-Asiatic language family spoken by more than 6 million people, mainly in Israel, the West Bank, the United States and by Jewish communities around the world. ... The London School of Economics and Political Science, often referred to as the London School of Economics or simply the LSE, is a specialist university in London and is regarded as the worlds most prestigious social science institution. ... 1929 (MCMXXIX) was a common year starting on Tuesday (link will take you to calendar). ... Map of the Cambridgeshire area (1904) The city of Cambridge is an old English university town and the administrative centre of the county of Cambridgeshire. ... John Maynard Keynes, 1st Baron Keynes of Tilton (pronounced kānz / kAnze), ) (June 5, 1883 – April 21, 1946) was an English economist, whose ideas had a major impact on modern economic and political theory as well as on American and British fiscal policies. ...

In 1937 Lerner emigrated to the United States. 1937 (MCMXXXVII) was a common year starting on Friday (link will take you to calendar). ...

Just like Oskar Lange, Lerner developed, a model of market socialism, which differed form the pure planned economy. It became known as the third way. Market socialism is an economic system in which the means of production are owned by the workers in each company (meaning in general that profits in each company are distributed between them: profit sharing) and the production is not centrally planned but mediated through the market. ... A command economy is an economic system in which government decisions are made by central state economic managers who determine what sorts of goods and services to produce and how they are to be priced and allocated, and may include state ownership of the means of production. ...

Like Wassily Leontief, Lerner improved the calculations made by Wilhelm Launhardt on the effect of terms of trade. Wassily Leontief (August 5, 1906 – February 5, 1999), born at St. ... Wilhelm Launhardt (1832 - 1918) was a German mathematician. ...

Furthermore Lerner improved a formula of Alfred Marshall, which is known since as the Marshall-Lerner principle. Alfred Marshall Alfred Marshall (July 26, 1842–July 13, 1924), born in Bermondsey, London, England, became one of the most influential economists of his time. ...

The Lerner-Samuelson theorem also goes back to Lerner.

External links

• lhttp://www.economyprofessor.com/theorists/abbalerner.php
• http://cepa.newschool.edu/het/profiles/lerner.htm
• http://www.econlib.org/library/Enc/bios/Lerner.html