Wassily Leontief and Input-Output Economics
Book description
Wassily Leontief (1905-1999) was the founding father of input-output economics, for which he received the Nobel Prize in 1973. This book offers a collection of papers in memory of Leontief by his students and close colleagues. The first part, 'Reflections on Input-Output Economics', focuses upon Leontief as a person and…
Why read it?
1 author picked Wassily Leontief and Input-Output Economics as one of their favorite books. Why do they recommend it?
Like Ayn Rand, Wassily Leontief is a Jew who left the Soviet Union and settled in the United States.
However, he does not believe in free markets and even is a specialist in economic planning. The precision with which he analyzes the economic system, considering it as machine that transforms inputs into outputs is mind-boggling and answers difficult questions.
From Thijs' list on microeconomics on how markets are interconnected.
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