Word: leontiefs
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Dates: during 1970-1979
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...Nobel prizewinners and the ubiquitous John Kenneth Galbraith and John Dunlop, who is due to be named Secretary of Labor. This array of talent alone should make the department second to none. Apparently that is not the case. One of the Nobel laureate economics professors, Russian-born Wassily Leontief, 68, has announced that, after 44 years on the faculty, he will resign from Harvard this summer to teach at New York University. His reasons for departing: the department's curriculum is "too narrow" and theoretical, and the senior faculty has lost touch with the students...
...Leontief's detractors within the department were quick to point out that he may be leaving simply because he is approaching the mandatory retirement age of 70 and because N.Y.U. offered him more money. But other economics professors, including Fellow Nobel Winner Kenneth Arrow (who almost left for Stanford last year) and Galbraith (who plans to retire this summer), agree with Leontief that the department must broaden its view of contemporary problems. Indeed, Galbraith has noted "the obsolescence of neoclassical economic theory," the foundation of the department's curriculum. Some faculty members and graduate students also insist that...
...Leontief, who developed the input-output formula that helps economists determine how changes in one sector of the economy affect other sectors, has other complaints about the department. He is bitter that it did not broaden its scope by granting tenure to four radical economists in the past few years (three subsequently left) or by hiring the woman who assisted him in developing applications for his formula, Brandeis Professor Anne Carter...
Although the November report of the Visiting Committee of the Board of Overseers--which questioned the Ec Department for its failure to have more than one radical on its faculty--and the recent resignation of Wassily W. Leontief, Lee Professor of Economics, put more pressure than ever on the department, the commitment to hire one radical junior faculty member was made last April...
...Leontief, in his 44 years of teaching here, has been one of the few professors who consistently attempted to challenge the Fe Department's tunnel vision toward neo-classical theory, its aversion to reform, and its discrimination against minorities and women. He is also one of the last...