Wassily Leontief

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The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Leontief, Wassily


Born Aug. 5, 1906, in St. Petersburg. American economist.

After he graduated from Leningrad University (1925), Leontief studied in Berlin (1925–28). In 1931 he emigrated to the USA and started teaching at Harvard University. In 1948 he became director of an economic research service. Leontief worked out the “input-output” method of economic analysis, a method initially developed by Soviet economists as early as 1924–28. His method studies the specific processes involved in substituting one part of social product for another in capitalist economic sectors. The principles advanced by Leontief are used for forecasting and programming the capitalist economy. Although criticizing certain conditions of bourgeois political economy and individual failings of capitalism, Leontief in his works ignores the antagonistic contradictions of capitalist production. He received the Nobel Prize in 1973.


The Structure of the American Economy, 1919–1929. Cambridge, Mass., 1941.
Input-Output Economics. New York, 1966.
The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
En 1941 Wassily Leontief publico el libro The Structure of the American Economy 1919-1929, con seis capitulos reunidos en tres partes.
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And her father, Jerry, was blacklisted in the 1950s from any defense-related industries because someone reported to the McCarthy crowd that he owned a copy of Political Economy, by Wassily Leontief. Since then, they have participated in a range of left-liberal causes.
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Joseph Schumpeter, Harvard's brilliant economist and social prophet, was to debate with Paul Sweezy on "The Future of Capitalism." Wassily Leontief was in the chair as moderator, and the Littauer Auditrium could not accommodate the packed house.
PROFESSOR WASSILY LEONTIEF, the founder of input-output (I-O) accounts, died last month.
No wonder that Wassily Leontief, Nobellaureate and past president of the American Economics Association, criticizes the profession for having constructed such elaborate theoretical structures on so narrow and shallow a factual foundation.(6)
Embodied factor flows can be computed and appraised with a methodology first developed by Wassily Leontief. The idea, as he formulated it, was to compute the embodied factor content of standard units of imports and exports (a dollar's worth) to evaluate domestic opportunity costs at the margin.
When economic historians write this century's story, they no doubt will mention the insights of Lord Keynes, the free-market musings of Milton Friedman, the econometric models of Wassily Leontief, and the portfolio theories of Harry Markowitz.
Under the third objective, which was to show "the condition of modern economics," Wassily Leontief argues that the state of economics has declined since the time of Adam Smith.
A computer model of the effects of automation on workers, developed by Nobel Laureate Wassily Leontief and colleagues at the Institute for Economic Analysis in the 1980s, concluded that the demand for clerical and service employees, as well as semi-skilled and unskilled workers, is going to diminish rapidly in the wake of the new high-tech innovations.