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Leontief, Wassily W., 1906-99 (B3)<br />The pioneer of INPUT OUTPUT ANALYSIS. He was born in St Petersburg, Russia, where his father was a professor of labour economics at the city's university from which he himself graduated before further study in Berlin. After a period as economic adviser to the government of China, he emigrated to the USA, spending 1931 to 1932 at the NATIONAL BUREAU OF ECONOMIC RESEARCH, Washington, before beginning his long tenure of a Harvard professorship, from 1932 to 1975. He was awarded the NOBEL PRIZE FOR ECONOMICS in 1973.<br /> His work on input-output analysis started with a paper and input-output table for the US economy in 1925. Later he developed his model by incorporating the effects of excess capacity, price changes and technical progress. In 1973, he ambitiously began the modelling of the world economy using input-output methods. His studies led him to advocate five-year planning for the USA as a means of reducing the costs of labour and capital being unemployed in phases of the BUSINEss CYCLE. Another celebrated study in applied economics was his attack on the HECKSCHER OHLIN theorem of international trade in 1954. Leontief objected to many aspects of KEYNESIAN ECONOMICS, particularly its methodology which, because it relies so much on the definitions used,
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<strong>DHE</strong> – Department of Higher Education, the Missouri state agency overseeing the state' s higher education systems and related policies and administering student aid programs, including the FFEL Program and state aid programs such as the Bright Flight Scholarship. Also known as the MDHE. The agency' s website may be found at
www.dhe.mo.gov.
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