Lerner, Abba Ptachya definition of Lerner, Abba Ptachya in the Free Online Encyclopedia.

Lerner, Abba Ptachya (äb`ə pətäch`yə lĕr`nər, lûr`nər), 1903–82, American economist, b. Romania. After studying at the London School of Economics in the 1930s, he collaborated with Keynes Keynes, John Maynard, Baron Keynes of Tilton , 1883–1946, English economist and monetary expert, studied at Eton and Cambridge. Early Career and Critique of Versailles

..... Click the link for more information. at Cambridge Univ. Lerner came to the United States in 1937. His book on market pricing in a socialist economy, The Economics of Control (1944), developed the Marshall–Lerner criterion, based on the elasticity principle of Alfred Marshall Marshall, Alfred, 1842–1924, English economist. At Cambridge, where he taught from 1885 to 1908, he exerted great influence on the development of economic thought of the time; one of his students was John Maynard Keynes.
..... Click the link for more information. . Lerner explained how a nation's balance of trade could affect the exchange rate in an economy where the currency has been devalued. In the late 1970s, Lerner wrote a highly detailed and respected work on inflation, The Market Anti-Inflation Plan.

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