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Wassily Wassilyevich Leontief (; August 5, 1905 – February 5, 1999) was a Soviet-American
economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...
known for his research on input–output analysis and how changes in one
economic sector One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw materials, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sect ...
may affect other sectors. Leontief won the
Nobel Memorial Prize in Economic Sciences The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of economic sciences adminis ...
in 1973, and four of his doctoral students have also been awarded the prize (
Paul Samuelson Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist who was the first American to win the Nobel Memorial Prize in Economic Sciences. When awarding the prize in 1970, the Swedish Royal Academies stated that he "h ...
1970,
Robert Solow Robert Merton Solow, GCIH (; August 23, 1924 – December 21, 2023) was an American economist who received the 1987 Nobel Memorial Prize in Economic Sciences, and whose work on the theory of economic growth culminated in the exogenous growth ...
1987, Vernon L. Smith 2002,
Thomas Schelling Thomas Crombie Schelling (April 14, 1921 – December 13, 2016) was an American economist and professor of foreign policy, national security, nuclear strategy, and arms control at the School of Public Policy at the University of Maryland, Coll ...
2005).


Biography


Early life

Wassily Leontief was born on August 5, 1905, in
Munich Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...
, German Empire, the son of Wassily W. Leontief (professor of
Economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...
) and Zlata (German spelling ''Slata''; later Evgenia) Leontief (née Becker). Wassily Leontief Sr. belonged to a family of Russian old-believer merchants living in St. Petersburg since 1741. Evgenia (Genya) Becker belonged to a wealthy
Jewish Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...
family from
Odessa ODESSA is an American codename (from the German language, German: ''Organisation der ehemaligen SS-Angehörigen'', meaning: Organization of Former SS Members) coined in 1946 to cover Ratlines (World War II aftermath), Nazi underground escape-pl ...
. At 15 in 1921, Wassily Jr. entered Petrograd State University in present-day St. Petersburg. He earned his Learned Economist degree (equivalent to
Master of Arts A Master of Arts ( or ''Artium Magister''; abbreviated MA or AM) is the holder of a master's degree awarded by universities in many countries. The degree is usually contrasted with that of Master of Science. Those admitted to the degree have ...
) in 1925 at the age of 19.


Opposition in USSR

Leontief sided with campaigners for academic autonomy, freedom of speech and in support of Pitirim Sorokin. As a consequence, he was detained several times by the
Cheka The All-Russian Extraordinary Commission ( rus, Всероссийская чрезвычайная комиссия, r=Vserossiyskaya chrezvychaynaya komissiya, p=fsʲɪrɐˈsʲijskəjə tɕrʲɪzvɨˈtɕæjnəjə kɐˈmʲisʲɪjə, links=yes), ...
. In 1925, he was allowed to leave the USSR, mostly because the Cheka believed that he was mortally ill with a
sarcoma A sarcoma is a rare type of cancer that arises from cells of mesenchymal origin. Originating from mesenchymal cells means that sarcomas are cancers of connective tissues such as bone, cartilage, muscle, fat, or vascular tissues. Sarcom ...
, a diagnosis that later proved false. He continued his studies at the Friedrich Wilhelm University in Berlin and, in 1928, earned a Ph.D. degree in economics under the direction of
Werner Sombart Werner may refer to: People * Werner (name), origin of the name and people with this name as surname and given name Fictional characters * Werner (comics), a German comic book character * Werner Von Croy, a fictional character in the ''Tomb Rai ...
, writing his dissertation on ''The Economy as Circular Flow'' (original German title: ''Die Wirtschaft als Kreislauf'').


Early professional life

From 1927 to 1930, he worked at the Institute for the World Economy of the
University of Kiel Kiel University, officially the Christian Albrecht University of Kiel, (, abbreviated CAU, known informally as Christiana Albertina) is a public research university in the city of Kiel, Germany. It was founded in 1665 as the ''Academia Holsator ...
. There he researched the derivation of statistical demand and supply curves. In 1929, he traveled to China to assist its ministry of railroads as an advisor. 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 an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic co ...
. During World War II, Leontief served as consultant at the U. S.
Office of Strategic Services The Office of Strategic Services (OSS) was the first intelligence agency of the United States, formed during World War II. The OSS was formed as an agency of the Joint Chiefs of Staff (JCS) to coordinate espionage activities behind enemy lines ...
.


Harvard

Leontief joined
Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...
's department of economics in 1932 and in 1946 became
professor Professor (commonly abbreviated as Prof.) is an Academy, academic rank at university, universities and other tertiary education, post-secondary education and research institutions in most countries. Literally, ''professor'' derives from Latin ...
of economics there. In 1949, Leontief used an early computer at Harvard and data from 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, along with George W. Snedecor's usage of the Atanasoff–Berry computer. 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.


New York University

In 1975, Leontief joined
New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...
and founded and directed the Institute for Economic Analysis. He taught graduate and undergraduate classes.


Personal life

In 1932, Leontief married the poet Estelle Marks (1908–2005). Their only child, Svetlana Leontief Alpers, was born in 1936. Estelle wrote a memoir, ''Genia and Wassily'', of their relations with his parents after they came to the US as émigrés. As hobbies Leontief enjoyed
fly fishing Fly fishing is an angling technique that uses an ultra-lightweight lure called an artificial fly, which typically mimics small invertebrates such as flying and aquatic insects to attract and catch fish. Because the mass of the fly lure is in ...
, ballet, and fine wines. He vacationed for years at his farm in West Burke, Vermont, but after moving to New York in the 1970s moved his summer residence to Lakeville, Connecticut. Leontief died in New York City on Friday, February 5, 1999, at the age of 93.


Major contributions

Leontief is credited with developing early contributions to input–output analysis and earned the
Nobel Prize in Economics The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of economic sciences adminis ...
for his development of its associated theory. He has also made contributions in other areas of economics, such as
international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (See: World economy.) In most countries, such trade represents a significan ...
where he documented the Leontief paradox. He was also one of the first to establish the composite commodity theorem. 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. The analysis assumes that input proportions are fixed; thus the use of input–output analysis is limited to rough approximations rather than prediction. Input–output was novel and inspired large-scale empirical work; in 2010 its iterative method was recognized as an early intellectual precursor to
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's
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. 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 Surplus labor () is a concept used by Karl Marx in his critique of political economy. It means labor performed in excess of the labor necessary to produce the means of livelihood of the worker ("necessary labor"). The "surplus" in this context mea ...
, 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." 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 non-observed 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

* 1925: ''Баланс народного хозяйства СССР.'' ("Balans narodnogo khozyaystva SSSR") in '; translated into Italian in Spulber N.(Ed.) as "Il Bilancio dell'economia nazionale dell'URSS." in ''La Strategia Sovietica per Sviluppo Economico 1924–1930'', Giulio Einaudi ed., Torino iscussing the Soviet "Balance of the National Economy", 1923–4* 1928: ''Die Wirtschaft als Kreislauf'', Tübingen: Mohr: re-published as ''The economy as a circular flow'', pp. 181–212 in: Structural Change and Economic Dynamics, Volume 2, Issue 1, June 1991; this translation is abridged to avoid controversial statements. * * * 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-authored with F. Duchin *


Awards

* 1953: Order of the Cherubim, University of Pisa * 1962: Dr honoris causa, University of Brussels * 1967: Dr of the university,
University of York The University of York (abbreviated as or ''York'' for Post-nominal letters, post-nominals) is a public Collegiate university, collegiate research university in York, England. Established in 1963, the university has expanded to more than thir ...
* 1968: Officer of the French Légion d'honneur * 1970: Bernhard-Harms Prize Economics,
West Germany West Germany was the common English name for the Federal Republic of Germany (FRG) from its formation on 23 May 1949 until German reunification, its reunification with East Germany on 3 October 1990. It is sometimes known as the Bonn Republi ...
* 1971: Dr honoris causa, University of Louvain * 1972: Dr honoris causa,
University of Paris The University of Paris (), known Metonymy, metonymically as the Sorbonne (), was the leading university in Paris, France, from 1150 to 1970, except for 1793–1806 during the French Revolution. Emerging around 1150 as a corporation associated wit ...
(Sorbonne) * 1973:
Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics(), is an award in the field of Economic Sciences, economi ...
, a.k.a.
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
in Economics * 1976: Dr honoris causa,
University of Pennsylvania The University of Pennsylvania (Penn or UPenn) is a Private university, private Ivy League research university in Philadelphia, Pennsylvania, United States. One of nine colonial colleges, it was chartered in 1755 through the efforts of f ...
* 1980: Dr honoris causa,
University of Toulouse The University of Toulouse (, ) is a community of universities and establishments ( ComUE) based in Toulouse, France. Originally it was established in 1229, making it one of the earliest universities to emerge in Europe. Suppressed during the ...
, France * 1980: Dr honoris causa,
University of Louisville The University of Louisville (UofL) is a public university, public research university in Louisville, Kentucky, United States. It is part of the Kentucky state university system. Chartered in 1798 as the Jefferson Seminary, it became in the 19t ...
,
Kentucky Kentucky (, ), officially the Commonwealth of Kentucky, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Illinois, Indiana, and Ohio to the north, West Virginia to the ...
* 1980: Doctor of Social Sciences,
University of Vermont The University of Vermont and State Agricultural College, commonly referred to as the University of Vermont (UVM), is a Public university, public Land-grant university, land-grant research university in Burlington, Vermont, United States. Foun ...
* 1980: Doctor of Laws, C. W. Post Center,
Long Island University Long Island University (LIU) is a private university in Brooklyn and Brookville, New York, United States. The university enrolls over 16,000 students and offers over 500 academic programs at its main campuses, LIU Brooklyn and LIU Post on Long I ...
* 1980: Russian-American Hall of Fame * 1981: Karl Marx University,
Budapest Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...
, Hungary * 1984:
Order of the Rising Sun The is a Japanese honors system, Japanese order, established in 1875 by Emperor Meiji. The Order was the first national decoration awarded by the Japanese government, created on 10 April 1875 by decree of the Council of State. The badge feat ...
, Japan * 1985: Commandeur, French Order of Arts and Letters * 1988: Dr honoris causa, Adelphi College * 1988: Foreign member,
USSR Academy of Sciences The Academy of Sciences of the Soviet Union was the highest scientific institution of the Soviet Union from 1925 to 1991. It united the country's leading scientists and was subordinated directly to the Council of Ministers of the Soviet Union (u ...
* 1989: Society of the Optimate, Italian Cultural Institute, New York * 1990: Dr honoris causa, University of Córdoba, 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 The Humboldt University of Berlin (, abbreviated HU Berlin) is a public university, public research university in the central borough of Mitte in Berlin, Germany. The university was established by Frederick William III of Prussia, Frederick W ...
, Berlin, Germany * Award of Excellence, The International Center in New York


In honor

The Global Development and Environment Institute at
Tufts University Tufts University is a private research university in Medford and Somerville, Massachusetts, United States, with additional facilities in Boston and Grafton, as well as Talloires, France. Tufts also has several Doctor of Physical Therapy p ...
awards the Leontief Prize in Economics each year in his honor. Leontief is listed in the Russian-American Chamber of Fame of Congress of Russian Americans, which is dedicated to Russian immigrants who made outstanding contributions to American science or culture.CRA Hall of Fame
Russian-americans.org.


Memberships

* 1954: President of the
Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools in the practice of econometrics. It is an independent organization with no connections to societies of professional mathematicians o ...
* 1968: Corresponding Member of the
Institut de France The ; ) is a French learned society, grouping five , including the . It was established in 1795 at the direction of the National Convention. Located on the Quai de Conti in the 6th arrondissement of Paris, the institute manages approximately ...
* 1970: President of the
American Economic Association The American Economic Association (AEA) is a learned society in the field of economics, with approximately 23,000 members. It publishes several peer-reviewed journals, including the Journal of Economic Literature, American Economic Review, an ...
* 1970: Corresponding Fellow of the
British Academy The British Academy for the Promotion of Historical, Philosophical and Philological Studies is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the sa ...
* 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 Lincei The (; literally the "Academy of the Lynx-Eyed"), anglicised as the Lincean Academy, is one of the oldest and most prestigious European scientific institutions, located at the Palazzo Corsini on the Via della Lungara in Rome, Italy. Founded in ...
, Italy * 1976: President and Section F. of the
British Association for the Advancement of Science The British Science Association (BSA) is a Charitable organization, charity and learned society founded in 1831 to aid in the promotion and development of science. Until 2009 it was known as the British Association for the Advancement of Scienc ...
* 1976: Honorary Member of the
Royal Irish Academy The Royal Irish Academy (RIA; ), based in Dublin, is an academic body that promotes study in the natural sciences, arts, literature, and social sciences. It is Ireland's premier List of Irish learned societies, learned society and one of its le ...
* 1977: Fellow of the
American Association for the Advancement of Science The American Association for the Advancement of Science (AAAS) is a United States–based international nonprofit with the stated mission of promoting cooperation among scientists, defending scientific freedom, encouraging scientific responsib ...
* 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 Boston University (BU) is a Private university, private research university in Boston, Massachusetts, United States. BU was founded in 1839 by a group of Boston Methodism, Methodists with its original campus in Newbury (town), Vermont, Newbur ...
* 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 Carnegie Mellon University (CMU) is a private research university in Pittsburgh, Pennsylvania, United States. The institution was established in 1900 by Andrew Carnegie as the Carnegie Technical Schools. In 1912, it became the Carnegie Institu ...
* 1990: Academy of Creative Endeavors,
USSR The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...
* 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 The New York Academy of Sciences (NYAS), originally founded as the Lyceum of Natural History in January 1817, is a nonprofit professional society based in New York City, with more than 20,000 members from 100 countries. It is the fourth-oldes ...
* 1995: Member of the International Leadership Center on Longevity & Society, Mt. Sinai Hospital *
American Philosophical Society The American Philosophical Society (APS) is an American scholarly organization and learned society founded in 1743 in Philadelphia that promotes knowledge in the humanities and natural sciences through research, professional meetings, publicat ...
*
American Academy of Arts and Sciences The American Academy of Arts and Sciences (The Academy) is one of the oldest learned societies in the United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bowdoin, Andrew Oliver, and other ...
* International Statistical Institute * Honorary Member of the Japan Economic Research Center, Tokyo * Honorary Fellow of the Royal Statistical Society, London * Trustee of Economists for Peace and Security


Quotes


See also

* List of economists * List of Jewish Nobel laureates


References and sources


External links

*
Information from www.iioa.org






* {{DEFAULTSORT:Leontief, Wassily 1905 births 1999 deaths Nobel laureates in Economics American Nobel laureates 20th-century American economists General equilibrium theorists Harvard University faculty New York University faculty Soviet expatriates in Germany American people of Russian-Jewish descent American people of Russian descent Academics from Munich Soviet economists Soviet Jews Jewish American social scientists Saint Petersburg State University alumni Fellows of the American Statistical Association Soviet emigrants to the United States Fellows of the Econometric Society Presidents of the Econometric Society Presidents of the American Economic Association Distinguished fellows of the American Economic Association National Bureau of Economic Research Members of the United States National Academy of Sciences Foreign members of the USSR Academy of Sciences Foreign members of the Russian Academy of Sciences Corresponding fellows of the British Academy Russian scientists Members of the American Philosophical Society