Word: leontiefs
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Dates: during 1970-1979
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...Leontief does not believe President Nixon has successfully followed that guideline, and suggests a variety of needed reforms-including tax reform, reallocation of government spending away from the military and toward the "common man", and more aid for less developed countries...
...Leontief's own perspective of the discipline in general is consistent with his decision to support Harvard's unsuccessful radical economists. He will not assert that one system or one doctrine is necessarily better than another, but that a variety of economic structures and values are acceptable depending on specific circumstances...
With this outlook, Leontief is able to see virtues both in capitalist America and socialist China. He considers the profit motive the best driving force of the American economy but admires the "purposefulness of the Chinese people...
After a trip to china in 1972, Leontief praised the Chinese Government, which he said "has succeeded in providing a decent living for 800 million people, not an easy thing...
...guideline of good government, Leontief said, is: "Never promise more than you can deliver and always deliver what you promise...