Wassily Leontief
Wassily Wassilyovich Leontief ' onMouseout='HidePop("80929")' href="/topics/Munich">Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...

, Germany February 5, 1999, New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

), was a Russian-American economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...

 notable for his research on how changes in one economic sector
Economic sector
An economy may include several sectors , that evolved in successive phases.* The ancient economy was mainly based on subsistence farming....

 may have an effect on other sectors. Leontief won the Nobel Committee's Nobel Memorial Prize in Economic Sciences
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, but officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel , is an award for outstanding contributions to the field of economics, generally regarded as one of the...

 in 1973, and three of his doctoral students have also been awarded the prize (Paul Samuelson
Paul Samuelson
Paul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in...

 1970, Robert Solow
Robert Solow
Robert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...

 1987, Vernon L. Smith
Vernon L. Smith
Vernon Lomax Smith is professor of economics at Chapman University's Argyros School of Business and Economics and School of Law in Orange, California, a research scholar at George Mason University Interdisciplinary Center for Economic Science, and a Fellow of the Mercatus Center, all in Arlington,...


Early life

Wassily Leontief was born on August 5, 1905, in Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...

, Germany, the son of Wassily W. Leontief (professor of Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...

) and Slata (later Evgenia, called Genya) Leontief (née Becker). W. Leontief, Sr., belonged to a dynasty of old-believer
Old Believers
In the context of Russian Orthodox church history, the Old Believers separated after 1666 from the official Russian Orthodox Church as a protest against church reforms introduced by Patriarch Nikon between 1652–66...

 merchants living in St. Petersburg
Saint Petersburg
Saint Petersburg is a city and a federal subject of Russia located on the Neva River at the head of the Gulf of Finland on the Baltic Sea...

 since 1741. Genya Becker belonged to a wealthy Jewish family from Odessa
Odessa or Odesa is the administrative center of the Odessa Oblast located in southern Ukraine. The city is a major seaport located on the northwest shore of the Black Sea and the fourth largest city in Ukraine with a population of 1,029,000 .The predecessor of Odessa, a small Tatar settlement,...

. At 15 in 1921, Wassily, Jr., entered University of Leningrad
Saint Petersburg State University
Saint Petersburg State University is a Russian federal state-owned higher education institution based in Saint Petersburg and one of the oldest and largest universities in Russia....

 in present day St. Petersburg
Saint Petersburg
Saint Petersburg is a city and a federal subject of Russia located on the Neva River at the head of the Gulf of Finland on the Baltic Sea...

. He earned his Learned Economist degree (equivalent to Master of Arts
Master of Arts (postgraduate)
A Master of Arts from the Latin Magister Artium, is a type of Master's degree awarded by universities in many countries. The M.A. is usually contrasted with the M.S. or M.Sc. degrees...

) in 1924 at the age of 19.

Opposition in USSR

Leontief sided with campaigners for academic autonomy, freedom of speech and in support of Pitirim Sorokin
Pitirim Sorokin
Pitirim Alexandrovich Sorokin was a Russian-American sociologist born in Komi . Academic and political activist in Russia, he emigrated from Russia to the United States in 1923. He founded the Department of Sociology at Harvard University. He was a vocal opponent of Talcott Parsons' theories...

. As a consequence, he was detained several times by the Cheka
The KGB was the commonly used acronym for the . It was the national security agency of the Soviet Union from 1954 until 1991, and was the premier internal security, intelligence, and secret police organization during that time.The State Security Agency of the Republic of Belarus currently uses the...

. In 1925, he was allowed to leave the USSR, mostly because the Cheka
The KGB was the commonly used acronym for the . It was the national security agency of the Soviet Union from 1954 until 1991, and was the premier internal security, intelligence, and secret police organization during that time.The State Security Agency of the Republic of Belarus currently uses the...

 believed that he was mortally ill with a sarcoma
A sarcoma is a cancer that arises from transformed cells in one of a number of tissues that develop from embryonic mesoderm. Thus, sarcomas include tumors of bone, cartilage, fat, muscle, vascular, and hematopoietic tissues...

, a diagnosis that later proved false. He continued his studies at the University of Berlin and, in 1928 earned a Ph.D. degree in economics under the direction of Werner Sombart
Werner Sombart
Werner Sombart 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....

, writing his dissertation on Circular Flows in Economics.

Early professional life

From 1927 to 1930, he worked at the Institute for the World Economy
Kiel Institute for the World Economy
The Kiel Institute for the World Economy is located in Kiel, Germany, and one of the leading economic research institutes in Germany. It is engaged in research and consulting with regard to global economic affairs, economic education and documentation...

 of the University of Kiel
University of Kiel
The University of Kiel is a university in the city of Kiel, Germany. It was founded in 1665 as the Academia Holsatorum Chiloniensis by Christian Albert, Duke of Holstein-Gottorp and has approximately 23,000 students today...

. 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
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...


During World War II, Leontief served as consultant at the U. S. Office of Strategic Services
Office of Strategic Services
The Office of Strategic Services was a United States intelligence agency formed during World War II. It was the wartime intelligence agency, and it was a predecessor of the Central Intelligence Agency...


Affiliation with Harvard

Leontief joined Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...

's department of economics in 1932 and in 1946 became professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...

 of economics there.

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
Harvard Mark II
The Harvard Mark II was an electromechanical computer built at Harvard University under the direction of Howard Aiken and was finished in 1947. It was financed by the United States Navy....

, to solve the system, one of the first significant uses of computers for mathematical modeling.

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
Harvard Society of Fellows
The Harvard Society of Fellows is a group of scholars selected at the beginning of their careers by Harvard University for extraordinary scholarly potential, upon whom distinctive academic and intellectual opportunities are bestowed in order to foster their individual growth and intellectual...


Affiliation with New York University

In 1975, Leontief joined New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...

 and founded and directed the Institute for Economic Analysis.


In 1932, Leontief married poet Estelle Marks. Their only child, Svetlana Leontief Alpers, was born in 1936.

As hobbies Leontief enjoyed fly fishing
Fly fishing
Fly fishing is an angling method in which an artificial 'fly' is used to catch fish. The fly is cast using a fly rod, reel, and specialized weighted line. Casting a nearly weightless fly or 'lure' requires casting techniques significantly different from other forms of casting...

, ballet
Ballet is a type of performance dance, that originated in the Italian Renaissance courts of the 15th century, and which was further developed in France and Russia as a concert dance form. The early portions preceded the invention of the proscenium stage and were presented in large chambers with...

, and fine wine
Wine is an alcoholic beverage, made of fermented fruit juice, usually from grapes. The natural chemical balance of grapes lets them ferment without the addition of sugars, acids, enzymes, or other nutrients. Grape wine is produced by fermenting crushed grapes using various types of yeast. Yeast...

s. 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
Lakeville, Connecticut
Lakeville is a village and census-designated place in the town of Salisbury in Litchfield County, Connecticut, on Lake Wononskopomuc. The village includes Lakeville Historic District, which is listed on the National Register of Historic Places. The district represents about of the village center...


Leontief died in New York City on Friday, February 5, 1999 at the age of 93. His wife died in 2005.

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
Heckscher-Ohlin model
The Heckscher–Ohlin model is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics. It builds on David Ricardo's theory of comparative advantage by predicting patterns of commerce and production based...

 where he documented the Leontief paradox
Leontief paradox
Leontief's paradox in economics is that the country with the world's highest capital-per worker has a lower capital/labor ratio in exports than in imports....

. 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 Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...

's PageRank
PageRank is a link analysis algorithm, named after Larry Page and used by the Google Internet search engine, that assigns a numerical weighting to each element of a hyperlinked set of documents, such as the World Wide Web, with the purpose of "measuring" its relative importance within the set...


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
Similar to Circular reasoning, A paradox is a seemingly true statement or group of statements that lead to a contradiction or a situation which seems to defy logic or intuition...

; "this country resorts to foreign trade in order to economize its capital
Capital (economics)
In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...

 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."

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.


  • 1925:“Balans Narodnogo Chozjajstva SSR” in Planovoe Chozjajstvo 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 editore, Torino [discussing 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.
  • 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. Duchin


  • 1953: Order of the Cherubim, University of Pisa
    University of Pisa
    The University of Pisa , located in Pisa, Tuscany, is one of the oldest universities in Italy. It was formally founded on September 3, 1343 by an edict of Pope Clement VI, although there had been lectures on law in Pisa since the 11th century...

  • 1962: Dr honoris causa, University of Brussels
  • 1967: Dr of the University, University of York
    University of York
    The University of York , is an academic institution located in the city of York, England. Established in 1963, the campus university has expanded to more than thirty departments and centres, covering a wide range of subjects...

  • 1968: Officer of the French Légion d'honneur
  • 1970: Bernhard-Harms Prize Economics, West Germany
    West Germany
    West Germany is the common English, but not official, name for the Federal Republic of Germany or FRG in the period between its creation in May 1949 to German reunification on 3 October 1990....

  • 1971: Dr honoris causa, University of Louvain
  • 1972: Dr honoris causa, University of Paris
    University of Paris
    The University of Paris was a university located in Paris, France and one of the earliest to be established in Europe. It was founded in the mid 12th century, and officially recognized as a university probably between 1160 and 1250...

  • 1973: Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, aka Nobel Prize
    Nobel Prize
    The Nobel Prizes are annual international awards bestowed by Scandinavian committees in recognition of cultural and scientific advances. The will of the Swedish chemist Alfred Nobel, the inventor of dynamite, established the prizes in 1895...

     in Economics
  • 1976: Dr honoris causa, University of Pennsylvania
    University of Pennsylvania
    The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...

  • 1980: Dr honoris causa, University of Toulouse
    University of Toulouse
    The Université de Toulouse is a consortium of French universities, grandes écoles and other institutions of higher education and research, named after one of the earliest universities established in Europe in 1229, and including the successor universities to that earlier university...

    , France
  • 1980: Dr honoris causa, University of Louisville
    University of Louisville
    The University of Louisville is a public university in Louisville, Kentucky. When founded in 1798, it was the first city-owned public university in the United States and one of the first universities chartered west of the Allegheny Mountains. The university is mandated by the Kentucky General...

    , Kentucky
    The Commonwealth of Kentucky is a state located in the East Central United States of America. As classified by the United States Census Bureau, Kentucky is a Southern state, more specifically in the East South Central region. Kentucky is one of four U.S. states constituted as a commonwealth...

  • 1980: Doctor of Social Sciences, University of Vermont
    University of Vermont
    The University of Vermont comprises seven undergraduate schools, an honors college, a graduate college, and a college of medicine. The Honors College does not offer its own degrees; students in the Honors College concurrently enroll in one of the university's seven undergraduate colleges or...

  • 1980: Doctor of Laws, C. W. Post Center, Long Island University
    Long Island University
    Long Island University is a private, coeducational, nonsectarian institution of higher education in the U.S. state of New York.-History:...

  • 1980: Russian-American Hall of Fame
  • 1981: Karl Marx University
    Corvinus University of Budapest
    The Corvinus University of Budapest is one of the most prestigious Hungarian universities located in Budapest, Hungary. The university offers degrees in multiple disciplines, but it is characterised by its programmes in economics and management. -History:...

    , Budapest
    Budapest is the capital of Hungary. As the largest city of Hungary, it is the country's principal political, cultural, commercial, industrial, and transportation centre. In 2011, Budapest had 1,733,685 inhabitants, down from its 1989 peak of 2,113,645 due to suburbanization. The Budapest Commuter...

    , Hungary
  • 1984: Order of the Rising Sun
    Order of the Rising Sun
    The is a Japanese order, established in 1875 by Emperor Meiji of Japan. The Order was the first national decoration awarded by the Japanese Government, created on April 10, 1875 by decree of the Council of State. The badge features rays of sunlight from 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 Córdoba, Spain
  • 1991: Takemi Memorial Award, Institute of Seizon & Life Sciences, Japan
  • 1995: Harry Edmonds Award for Life Achievement, International House
    International House
    International House is the name of:in Australia*International House, University of Queensland, a residential college on the campus of the University of Queensland...

    , New York
  • 1995: Dr honoris causa, Humboldt University, Berlin, Germany
  • Award of Excellence, The International Center in New York

In Honor

The Global Development and Environment Institute
Global Development and Environment Institute
The Global Development And Environment Institute is a research center at Tufts University founded in 1993. GDAE works to promote a better understanding of how societies can pursue their economic and community goals in an environmentally and socially sustainable manner...

 at Tufts University
Tufts University
Tufts University is a private research university located in Medford/Somerville, near Boston, Massachusetts. It is organized into ten schools, including two undergraduate programs and eight graduate divisions, on four campuses in Massachusetts and on the eastern border of France...

 awards the Leontief Prize in Economics each year in his honor.


  • 1954: President of the Econometric Society
    Econometric Society
    The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....

  • 1968: Corresponding Member of the Institut de France
    Institut de France
    The Institut de France is a French learned society, grouping five académies, the most famous of which is the Académie française.The institute, located in Paris, manages approximately 1,000 foundations, as well as museums and chateaux open for visit. It also awards prizes and subsidies, which...

  • 1970: President of the American Economic Association
    American Economic Association
    The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...

  • 1970: Corresponding Fellow of the British Academy
    British Academy
    The British Academy is the United Kingdom's national body for the humanities and the social sciences. Its purpose is to inspire, recognise and support excellence in the humanities and social sciences, throughout the UK and internationally, and to champion their role and value.It receives an annual...

  • 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
    British Association for the Advancement of Science
    frame|right|"The BA" logoThe British Association for the Advancement of Science or the British Science Association, formerly known as the BA, is a learned society with the object of promoting science, directing general attention to scientific matters, and facilitating interaction between...

  • 1976: Honorary Member of the Royal Irish Academy
    Royal Irish Academy
    The Royal Irish Academy , based in Dublin, is an all-Ireland, independent, academic body that promotes study and excellence in the sciences, humanities and social sciences. It is one of Ireland's premier learned societies and cultural institutions and currently has around 420 Members, elected in...

  • 1977: Fellow of the American Association for the Advancement of Science
    American Association for the Advancement of Science
    The American Association for the Advancement of Science is an international non-profit organization with the stated goals of promoting cooperation among scientists, defending scientific freedom, encouraging scientific responsibility, and supporting scientific education and science outreach for the...

  • 1978: Commission to Study the Organization of Peace
  • 1978–1986: Board of Trustees of North Carolina School of Science and Mathematics
    North Carolina School of Science and Mathematics
    The North Carolina School of Science and Mathematics is a two-year, public residential high school located in Durham, North Carolina, that focuses on the intensive study of science, mathematics and technology. The school accepts rising juniors from across North Carolina and enrolls them through...

  • 1979: Century Club
    Century Club
    Century Club may refer to:*Centurion, a variation of the drinking game known as Power Hour*The Century Association, a prominent private authors and artists club, with its own building, in New York City...

  • 1979: Issues Committee of the Progressive Alliance
  • 1980: Committee for National Security
    Committee for National Security
    The Ministry for National Security or MNB is an intelligence agency for the government of Turkmenistan. It is composed largely of the remnants of KGB organs left over after the collapse of the Soviet Union; its functions remain largely the same as well...

  • 1981: Board of Visitors, College of Liberal Arts, Boston University
    Boston University
    Boston University is a private research university located in Boston, Massachusetts. With more than 4,000 faculty members and more than 31,000 students, Boston University is one of the largest private universities in the United States and one of Boston's largest employers...

  • 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
    Tolstoy Foundation
    The Tolstoy Foundation is a non-profit charitable, philanthropic organization. It was established on April 26, 1939 by Alexandra Tolstoy, youngest daughter of the Russian writer Leo Tolstoy. Its headquarters are in Rockland County, New York in Valley Cottage....

  • 1985: International Committee, Carnegie Mellon University
    Carnegie Mellon University
    Carnegie Mellon University is a private research university in Pittsburgh, Pennsylvania, United States....

  • 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
    New York Academy of Sciences
    The New York Academy of Sciences is the third oldest scientific society in the United States. An independent, non-profit organization with more than members in 140 countries, the Academy’s mission is to advance understanding of science and technology...

  • 1995: Member of the International Leadership Center on Longevity & Society, Mt. Sinai Hospital
  • American Philosophical Society
    American Philosophical Society
    The American Philosophical Society, founded in 1743, and located in Philadelphia, Pa., is an eminent scholarly organization of international reputation, that promotes useful knowledge in the sciences and humanities through excellence in scholarly research, professional meetings, publications,...

  • American Academy of Arts and Sciences
    American Academy of Arts and Sciences
    The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...

  • International Statistical Institute
    International Statistical Institute
    The International Statistical Institute is a professional association of statisticians. The Institut International de Statistique or International Statistical Institute was founded in 1885 although there had been international congresses from 1853.. The Institute publishes a variety of books and...

  • Honorary Member of the Japan Economic Research Center, Tokyo
  • Honorary Fellow of the Royal Statistical Society
    Royal Statistical Society
    The Royal Statistical Society is a learned society for statistics and a professional body for statisticians in the UK.-History:It was founded in 1834 as the Statistical Society of London , though a perhaps unrelated London Statistical Society was in existence at least as early as 1824...

    , London
  • Trustee of Economists for Peace and Security


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

* The role of humans as the most important factor of production is bound to diminish in the same way that the role of horses in agricultural production was first diminished and then eliminated by the introduction of tractors.

External links

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