Jacob Marschak

"I had the fortune to meet Jacob Marschak. He took me in his hands. There were other good people there, but he was very instrumental in giving me a style. [...] I would say the combination of theory, that is, modeling, with testing of empirical facts. The objective was to develop models that could be tested. Marschak also emphasized the importance of mathematics and econometrics, something that was quite unusual at that time. He was a wonderful teacher. He taught me macroeconomics. We discussed Keynes and Schumpeter. So he helped me to develop both in terms of tools and of ideas. Marschak invited me to a very distinguished seminar, attended by prominent economists such as Oskar Lange, Tjalling Koopmans, and Abraham Wald. Abba Lerner would come now and then."