Word: leontiefs
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Professor Wassily W. Leontief also of the Economics Department worked with Professor Schumpeter before his death and consequently was in close contact with Pu. He said that Pu was alert, fast and almost always in a good mood. Leontief remarked that if he were choosing a peace negotiater he could not think of a better person. Pu had the unusual faculty of knowing what a person was about to say before he said it. Leontief did not know of any Communist leanings...
Typical of the problems that were too complex for solution before the Marks arrived is Economics Professor Wassily W. Leontief's General Equilibrium Theory. Covering the alternatives possible from production, the theory in especially useful in the allocation of short materials. The advanced stages of this work are so complicated that Leontief must wait for the completion of Mark IV to proceed with his research...
...past, economists, unable to handle the huge masses of empirical data necessary for such projects, tended to oversimplify and to build "display cabinets without displays," comments Leontief. But the invention and development of the computer has lessened the reluctance to work problems which require heavy computation...
...Leontief hesitates to use the word "predict" when he talks about the possible consequences of his work, but readily asserts that his figures should be able to "narrow down the range of economic possibilities until probabilities are pin-pointed...
...Leontief cautioned of dangers that might arise in future years. Although agreeing that the U.N. suggestions might "relieve pressure on resources," he said that there was still a possibility of shortage