"The statistical study presented in the following pages may be best defined as an attempt to construct, on the basis of available statistical materials, a of the United States for 1919 and 1929. One hundred and fifty years ago, when Quesnay first published his famous scheme, his contemporaries and disciples acclaimed it as the greatest discovery since Newton’s laws. The idea of general interdepence among the various part of the economic system has become by now the very foundation of economic analysis. Yet, when it comes to the practical application of this theoretical tool, modern economists must rely exactly as Quesnay did upon fictitious numerical examples."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesAcademics from RussiaEconomists from the United StatesNobel laureates in EconomicsPeople from Munich
Original Language: English
Available Languages (1)
Sources
p. 9.
https://en.wikiquote.org/wiki/Wassily_Leontief
Revision History
No revisions have been submitted for this quote.
Categories
Wassily Leontief
Wassily Wassilyovich Leontief (August 5, 1906 – February 5, 1999), was a Russian-American economist notable for his research on how changes in one economic sector may have an effect on other sectors. Leontief won the Nobel Committee's Nobel Memorial Prize in Economic Sciences in 1973, and three of his doctoral students have also been awarded the prize (Paul Samuelson 1970, Robert Solow 1987, Vernon L. Smith 2002).
10 quotes on TrueQuotesView all quotes by Wassily Leontief →
Related Quotes
"Computers and robots replace humans in the exercise of mental functions in the same way as mechanical power replaced …"
"Among the many factors that have promoted economic change, I believe that technology or, rather, change in technology…"
"The general, and at the same time dynamic, type of analysis still remains an unwritten chapter of economic theory, th…"
"This work may be best described as an attempt to construct a of the United States."
"The total number of multiplications involved in the practical solution of our problem exceeds 450,000. This task alon…"
"How will the cessation of war purchases of planes, guns, tanks, and ships … affect the national level of employment? …"
"Economics today rides the crest of intellectual respectability and popular acclaim. The serious attention with which …"
"Much of current academic teaching and research has been criticized for its lack of relevance, that is, of immediate p…"
"By the time it comes to interpretation of the substantive conclusions, the assumptions on which the model has been ba…"
"For him delicious flavors dwell In books as in old Muscatel."