His namesake paradox, which resulted from a study of the Hecksher-Ohlin theory, states that, in the U.S., capital rather than labor is the relatively scarce factor of production.
His namesake paradox, which resulted from a study of the Hecksher-Ohlin theory, states that, in the U.S., capital rather than labor is the relatively scarce factor of production. After serving as an advisor on railroad construction to the Chinese government, he emigrated to the U.S. in 1931. While at Harvard, he was credited with the development of linear programming in economics, a vital tool in his system. The core of that system is a grid like table showing what individual industries buy from and sell to one another. FTP, identify this formulator of input-output analysis, the Russian winner of the 1973 Nobel Prize in economics.
His namesake paradox, which resulted from a study of the Hecksher-Ohlin theory, states that, in the U.S., capital rather than labor is the relatively scarce factor of production.
Wassily Leontief