Wassily Leontief

Born	August 5, 1905 Munich
Died	February 5, 1999 New York
Residence	USA
Nationality	Russian
Field	Economics
Institution	New York University (1975-91) Harvard University (1932-75)
Alma Mater	University of Berlin (Ph.D) University of Leningrad (M.A.)
Academic Advisor	Ladislaus Bortkiewicz Werner Sombart
Notable Students	Robert Solow
Known for	Input-output analysis
Notable Prizes	Nobel Prize in Economics (1973)

Wassily Leontief (August 5, 1905, Munich, Germany – February 5, 1999, New York)^[1], was an economist notable for his research on how changes in one economic sector may have an effect on other sectors. Leontief won a Nobel Prize in Economics in 1973. August 5 is the 217th day of the year in the Gregorian Calendar (218th in leap years), with 148 days remaining. ... 1905 (MCMV) was a common year starting on Sunday (see link for calendar). ... Munich: Frauenkirche and Town Hall steeple Munich: St. ... February 5 is the 36th day of the year in the Gregorian Calendar. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... Nickname: Big Apple, City that never Sleeps, Gotham Location in the state of New York Coordinates: Country United States State New York Boroughs The Bronx Brooklyn Manhattan Queens Staten Island Settled 1613 Mayor Michael Bloomberg (R) Area    - City 1,214. ... Image File history File links Flag_of_the_United_States. ... Image File history File links Flag_of_Russia. ... Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ... New York University (NYU) is a major research university in New York City. ... Harvard University (incorporated as The President and Fellows of Harvard College) is a private university in Cambridge, Massachusetts. ... There is no institution called the University of Berlin, but there are four universities in Berlin, Germany: Humboldt University of Berlin (Humboldt-Universität zu Berlin) Technical University of Berlin (Technische Universität Berlin) Free University of Berlin (Freie Universität Berlin) Berlin University of the Arts (Universität der... Saint Petersburg State University (Санкт-Петербургский Государственный Университет) is one of the oldest Russian educational institutions, established in the city of Saint Petersburg on January 28, 1724 by a decree of Peter the Great. ... Ladislaus Josephovich Bortkiewicz (August 7, 1868 - July 15, 1931) was a Russian economist and statistician of Polish descent. ... Werner Sombart Werner Sombart (January 19, 1863-May 18, 1941) was a German economist and sociologist, the head of the Youngest Historical School and one of the leading Continental European social scientists during the first quarter of the 20th century. ... Robert Merton Solow (born August 23, 1924) is an American economist particularly known for his work on the theory of economic growth. ... This article is about the economic model, for the computer interface see Input/output An input-output model is widely used in economic forecasting to predict flows between sectors. ... The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[1] (Swedish: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), commonly called the Nobel Prize in Economics, or more acurately the Nobel Memorial Prize in Economic Sciences, is a prize awarded each year for outstanding intellectual... August 5 is the 217th day of the year in the Gregorian Calendar (218th in leap years), with 148 days remaining. ... 1905 (MCMV) was a common year starting on Sunday (see link for calendar). ... Munich: Frauenkirche and Town Hall steeple Munich: St. ... February 5 is the 36th day of the year in the Gregorian Calendar. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... Nickname: Big Apple, City that never Sleeps, Gotham Location in the state of New York Coordinates: Country United States State New York Boroughs The Bronx Brooklyn Manhattan Queens Staten Island Settled 1613 Mayor Michael Bloomberg (R) Area    - City 1,214. ... Paul Samuelson, Nobel Prize in Economics winner. ... An economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of goods and services. ... The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel[1] (Swedish: Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), commonly called the Nobel Prize in Economics, or more acurately the Nobel Memorial Prize in Economic Sciences, is a prize awarded each year for outstanding intellectual...

Biography

Early life

Wassily Leontief, the son of Wassily W. Leontief (professor of Economics) and Genia, entered the University of Leningrad in present day St. Petersburg in 1921. He earned his Learned Economist degree (equivalent to Master of Arts) in 1924 at the age of 19. Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ... Saint Petersburg State University (Санкт-Петербургский Государственный Университет) is one of the oldest Russian educational institutions, established in the city of Saint Petersburg on January 28, 1724 by a decree of Peter the Great. ... Saint Petersburg (Russian: Санкт-Петербу́рг, English transliteration: Sankt-Peterburg), colloquially known as Питер (transliterated Piter), formerly known as Leningrad (Ленингра́д, 1924–1991) and... A Master of Arts is a postgraduate academic masters degree awarded by universities in North America and the United Kingdom (excluding the ancient universities of Scotland and Oxbridge. ...

Opposition to Communism

He was arrested several times because of his opposition to Communism. This article or section does not cite its references or sources. ...

In 1925, he was allowed to leave the USSR, so he continued his studies at the University of Berlin and, in 1928, he earned a Ph.D. degree in Economics with a dissertation on Circular Flows in Economics. There is no institution called the University of Berlin, but there are four universities in Berlin, Germany: Humboldt University of Berlin (Humboldt-Universität zu Berlin) Technical University of Berlin (Technische Universität Berlin) Free University of Berlin (Freie Universität Berlin) Berlin University of the Arts (Universität der... Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ...

Early Professional Life

From 1927 to 1930, he worked at the Institute for World Economics of the University of Kiel. There he researched the derivation of statistical demand and supply curves. In 1929, he travelled to China to assist the Ministry of Railroads as an advisor. The University of Kiel, in full the Christian-Albrechts-Universität zu Kiel (in short: CAU), is a university in the city of Kiel, Germany. ...

In 1931, he went to the United States, and was employed by the National Bureau of Economic Research. The National Bureau of Economic Research (NBER) is a private, nonprofit, nonpartisan research organization dedicated to studying the science and empirics of economics, especially the American economy. ...

During World War II, Leontief served as consultant at the Office of Strategic Services. Combatants Major Allied powers: United Kingdom Soviet Union United States Republic of China and others Major Axis powers: Nazi Germany Italy Japan and others Commanders Winston Churchill Joseph Stalin Franklin Roosevelt Harry Truman Chiang Kai-Shek Adolf Hitler Benito Mussolini Hideki Tojo Casualties Military dead: 17,000,000 Civilian dead... The Office of Strategic Services (OSS) was a United States intelligence agency formed during World War II. It was the wartime (but not direct) precursor to the Central Intelligence Agency. ...

Marriage and Affiliation with Harvard

In 1932, Leontief married the poet Estelle Marks. His wife died in 2005. Their only child, Svetlana Leontief Alpers, was born in 1936.

Harvard University employed him in the same year (1932) in its Department of Economics, and, in 1946, he became a professor of Economics. Harvard University (incorporated as The President and Fellows of Harvard College) is a private university in Cambridge, Massachusetts. ... A professor giving a lecture The meaning of the word professor (Latin: one who claims publicly to be an expert) varies. ... Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ...

Around 1949, Leontief used the primitive computer systems available at the time at Harvard to model data provided by the U.S. Bureau of Labor Statistics to divide the U.S. economy into 500 sectors. Leontief modeled each sector with a linear equation based on the data and used the computer, the Harvard Mark II, to solve the system, one of the first significant uses of computers for mathematical modeling.^[2] The Harvard Mark II was an electromechanical computer built at Harvard University under the direction of Howard Aiken and was finished in 1947. ...

Leontief set up the Harvard Economic Research Project in 1948 and remained its director until 1973. Starting in 1965, he chaired the Harvard Society of Fellows. The Harvard Society of Fellows is a collection of luminaries selected by Harvard University to be held close to its bosom, given special honors, thrown elegant dinners, and upon whom various privileges are bestowed. ...

Affiliation with New York University

In 1975, Leontief joined New York University and founded and directed the Institute for Economic Analysis. New York University (NYU) is a major research university in New York City. ...

Death

Leontief died in New York City, New York, USA, on Friday, February 5, 1999 at the age of 93. Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... This article is about the U.S. state. ... February 5 is the 36th day of the year in the Gregorian Calendar. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ...

Personal

It is known that he enjoyed fly-fishing, ballet, and fine wines. He vacationed for years at his farm in Vermont, but after moving to New York in the 1970's Leontief relocated his summer residence to Lakeville, Connecticut. Act 4 of Swan Lake: choreography by Petipa and Nureyev, music by Tchaikovsky. ... This article is about the alcoholic beverage. ...

Major contributions

Leontief is primarily associated with the development of the linear activity model of General equilibrium and the use of input-output analysis that results from it. He has also made contributions in other areas of economics, such as international trade where he documented the famous Leontief paradox. He was also one of the first to establish the composite commodity theorem. General Equilibrium (linear) supply and demand curves. ... This article is about the economic model, for the computer interface see Input/output An input-output model is widely used in economic forecasting to predict flows between sectors. ... The Heckscher-Ohlin model (H-O model) is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. ... Leontiefs paradox in economics was the result of Professor Wassily W. Leontiefs attempt to test the Heckscher-Ohlin theory. ...

Leontief earned the Nobel Prize in Economics for his work on input-output tables. Input-output tables analyze the process by which inputs from one industry produce outputs for consumption or for inputs for another industry. With the input-output table, one can estimate the change in demand for inputs resulting from a change in production of the final good. An unrealistic assumption of this analysis is that input proportions are fixed. It is for this reason that the use of input-output analysis is limited to rough approximizations rather than prediction. Input-output was novel and inspired large-scale empirical work. It has been used for economic planning throughout the world, whether in Western, Socialist or Third World countries.

Leontief used input-output analysis to study the characteristics of trade flow between the U.S. and other countries, and found what has been named Leontief's paradox; "this country resorts to foreign trade in order to economize its capital and dispose of its surplus labor, rather than vice versa, i.e., U.S. exports were relatively labor-intensive when compared to U.S. imports. This is the opposite of what one would expect, considering the fact that the U.S.'s comparative advantage was in capital-intensive goods. According to some economists, this paradox has since been explained as due to the fact that when a country produces "more than two goods, the abundance of capital relative to labor does not imply that the capital intensity of its exports should exceed that of imports." There also exists a trend that can be seen in the U.S. that could explain Leontief's paradox, and this is that in the last four decades, money has been becoming more expensive while labor has been becom ing cheaper. Leontief was also a very strong proponent of the use of quantitative data in the study of economics.

Throughout his life Leontief campaigned against "theoretical assumptions and nonobserved facts". According to Leontief, too many economists were reluctant to "get their hands dirty" by working with raw empirical facts. To that end, Wassily Leontief did much to make quantitative data more accessible, and more indispensable, to the study of economics.

Publications

• 1941: Structure of the American Economy, 1919-1929
• 1953: Studies in the Structure of the American Economy
• 1966: Input-Output Economics
• 1966: Essays in Economics
• 1977: Essays in Economics, II
• 1977: The Future of the World Economy
• 1983: Military Spending: Facts and Figures, Worldwide Implications and Future Outlook co-authed with F. Duchin.
• 1983: The Future of Non-Fuel Minerals in the U. S. And World Economy co-authed with J. Koo, S. Nasar and I. Sohn
• 1986: The Future Impact of Automation on Workers co-authed with F. Dochin

Awards

• 1953: Order of the Cherubim, University of Pisa
• 1962: Dr honoris causa, University of Brussels
• 1967: Dr of the University, University of York
• 1968: Officer of the French Legion d'Honneur
• 1970: Bernhard-Harms Prize Economics, West Germany
• 1971: Dr honoris causa, University of Louvain
• 1972: Dr honoris causa, University of Paris (Sorbonne)
• 1973: Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, aka Nobel Prize in Economics
• 1976: Dr honoris causa, University of Pennsylvania
• 1980: Dr honoris causa, University of Toulouse, France
• 1980: Dr honoris causa, University of Louisville, Kentucky
• 1980: Doctor of Social Sciences, University of Vermont
• 1980: Doctor of Laws, C. W. Post Center, Long Island University
• 1980: Russian-American Hall of Fame
• 1981: Karl Marx University, Budapest, Hungary
• 1984: Order of the Rising Sun, Japan
• 1985: Commandeur, French Order of Arts and Letters
• 1988: Dr honoris causa, Adelphi College
• 1988: Foreign member, USSR Academy of Sciences
• 1989: Society of the Optimate, Italian Cultural Institute, New York
• 1990: Dr honoris causa, University of Cordoba, Spain
• 1991: Takemi Memorial Award, Institute of Seizon & Life Sciences, Japan
• 1995: Harry Edmonds Award for Life Achievement, International House, New York
• 1995: Dr honoris causa, Humboldt University, Berlin, Germany

The University of Pisa (Italian Università di Pisa) is one of the most renowned Italian universities. ... The University of Brussels can refer to three universities in Brussels, Belgium: Université Libre de Bruxelles or ULB Vrije Universiteit Brussel or VUB Katholieke Universiteit Brussel or KU Brussel This is a disambiguation page — a navigational aid which lists pages that might otherwise share the same title. ... This article is about the British university. ... The Catholic University of Leuven, founded in 1425, is now the names of two Belgian universities, after the original university split in 1968: the Dutch-speaking Katholieke Universiteit Leuven, Leuven, Belgium, and the French-speaking Université catholique de Louvain, Louvain-la-Neuve, Belgium This is a disambiguation page — a... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ... Nobel Prize medal. ... Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ... The University of Pennsylvania (or Penn[3][4]) is a private, nonsectarian research university located in Philadelphia, Pennsylvania. ... The University of Toulouse is one of the oldest universities in Europe. ... The University of Louisville (also known as U of L) is a public, state-supported university located in Louisville, Kentucky, United States. ... Official language(s) English[1] Capital Frankfort Largest city Louisville Area  Ranked 37th  - Total 40,444 sq mi (104,749 km²)  - Width 140 miles (225 km)  - Length 379 miles (610 km)  - % water 1. ... The University of Vermont and State Agricultural College, or simply The University of Vermont, is a public university located in Burlington, Vermont. ... Long Island University (LIU) is a private university located on Long Island in the U.S. state of New York. ... The University of Leipzig (Universität Leipzig), located in Leipzig in the Free State and former Kingdom of Saxony, is one of the oldest universities in Europe. ... Nickname: Paris of the East, Pearl of the Danubeor Queen of the Danube Location of Budapest in Hungary Country Hungary County Pest Mayor Gábor Demszky (SZDSZ) Area    - City 525,16 km²  - Land n/a km²  - Water n/a km² Population    - City (2006) 1,695,000  - Density 3570/km... Grand Cordon of the Order of the Rising Sun The Order of the Rising Sun or Kyokujitsu sho(旭日章) is a Japanese Order (decoration), established in 1875 by Emperor Meiji of Japan. ... Adelphi University is a private college located in Garden City, in Nassau County, New York. ... Russian Academy of Sciences (Росси́йская Акаде́мия Нау́к) is the national academy of Russia. ... The Italian Cultural Institute, London (Italian: Istituto Italiano di Cultura) is based at 39 Belgrave Square in the heart of Belgravia, London, England. ... Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... International House can refer to more than one thing: International House (1933 movie), a 1933 film International House of Pancakes (IHOP), a restaurant chain International House World Organisation (IHWO), a worldwide organization of language schools International House (I.House-NYC) International House Berkeley, a dormitory on the campus of University... Midtown Manhattan, looking north from the Empire State Building, 2005 New York City (officially named the City of New York) is the most populous city in the state of New York and the entire United States. ... Alternative meaning: Humboldt State University, located in Arcata, California Humboldt-Universität zu Berlin The Humboldt University of Berlin (German Humboldt-Universität zu Berlin) is the successor to Berlins oldest university, the Friedrich Wilhelm University (Friedrich-Wilhelms-Universität), founded in 1810 by the liberal Prussian educational reformer... Berlin is the capital city and one of the sixteen states of the Federal Republic of Germany. ...

In Honor

Tufts University awards the Leontief Prize for economics in his honor. Tufts University is a private university in Medford/Somerville, Massachusetts, suburbs of Boston. ...

Memberships

• 1954: President of the Econometric Society
• 1968: Corresponding Member of the Institut de France
• 1970: President of the American Economic Association
• 1970: Corresponding Fellow of the British Academy
• 1974: US-USSR Commission on the Social Sciences and Humanities of the International Research and Exchanges Board
• 1975: American Committee on East-West Accord
• 1975: Accademia Nazionale dei Lincie, Italy
• 1976: President and Section F. of the British Association for the Advancement of Science
• 1976: Honorary Member of the Royal Irish Academy
• 1977: Fellow of the American Association for the Advancement of Science
• 1978: Commission to Study the Organization of Peace
• 1978 - 1986: Board of Trustees of North Carolina School of Science and Mathematics
• 1979: Century Club
• 1979: Issues Committee of the Progressive Alliance
• 1980: Committee for National Security
• 1981: Board of Visitors, College of Liberal Arts, Boston University
• 1981: Board of Editors, Journal of Business Strategy
• 1982: International Advisory Council of the Delian Institute of International Relations
• 1982: Accademia Mediterranea Delle Scienze, Italy
• 1983: Board of Advisors, Environmental Fund
• 1983: Board of Directors, Tolstoy Foundation
• 1985: International Committee, Carnegie Mellon University
• 1990: Academy of Creative Endeavors, USSR
• 1992: International Charitable Foundation, Russia
• 1993: Academie Europeenne
• 1993: Honorary President of the World Academy for the Progress of Planning Science, Italy
• 1993: Member of the Academie Universelle des Cultures, France
• 1994: Fellow of the New York Academy of Sciences
• 1995: Member of the International Leadership Center on Longevity & Society, Mt. Sinai Hospital
• American Philosophical Society
• American Academy of Arts and Sciences
• International Statistical Institute
• Honorary Member of the Japan Economic Research Center, Tokyo
• Honorary Fellow of the Royal Statistical Society, London

The Econometric Society The Econometric Society, an International Society for the Advancement of Economic Theory in its Relation with Statistics and Mathematics was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio. ... The Institut de France (French Institute) is a French learned society, grouping five académies, the most famous of which is probably the Académie française. ... The American Economic Association, or AEA, is the oldest and most important professional organization in the field of economics. ... The British Academy is the United Kingdoms national academy for the humanities and the social sciences. ... The British Association or the British Association for the Advancement of Science or the BA is a learned society with the object of promoting science, directing general attention to scientific matters, and facilitating intercourse between scientific workers. ... The Royal Irish Academy (RIA) is one of Irelands premier learned societies and cultural institutions. ... The American Association for the Advancement of Science (AAAS) is an organization that promotes cooperation between scientists, defends scientific freedom, encourages scientific responsibility and supports scientific education for the betterment of all humanity. ... The North Carolina School of Science and Mathematics (NCSSM) is a two-year, public residential high school located in Durham, North Carolina, and focused on the intensive study of science, mathematics and technology. ... Century club is a variation of the drinking game known as Power Hour. ... Committee for National Security is an intelligence agency for the government of Turkmenistan. ... For the unrelated Jesuit university in Chestnut Hill, see Boston College. ... Carnegie Mellon University is a private research university located in Pittsburgh, Pennsylvania. ... New York Academy of Sciences is a society of some 20,000 scientists of all disciplines from 150 countries. ... The American Philosophical Society is a discussion group founded as the Junto in 1743 by Benjamin Franklin. ... The House of the Academy, Cambridge, Massachusetts. ... For other uses, see Tokyo (disambiguation). ... The Royal Statistical Society is a learned society for statistics and a professional body for statisticians in the UK. Founded in 1834 as the Statistical Society of London, it became the Royal Statistical Society in 1887. ... This article is about the capital of England and the United Kingdom. ...

Quote

We move from more or less plausible but really arbitrary assumptions, to elegantly demonstrated but irrelevant conclusions.

See also

• Economics
• List of economists
• Input-output model

Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics or oeconomics is the study of human choice behaviour. ... This is an alphabetical list of well-known economists. ... The Input-output model of economics 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. ...

References

1. ^ http://www.iioa.org/images/WL-Birth%20Certificate.gif
2. ^ Lay, p.1

• Lay, David C. (2003). Linear Algebra and Its Applications, Third Edition. Addison Wesley. ISBN 0-201-70970-8.

External links

• Autobiography
• Information from www.biograph.comstar.ru
• Information from cepa.newschool.edu
• Information from www.econlib.org
• Information from www.iioa.org
• Article by James K. Galbraith
• Wassily Leontief – Autobiography