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Leontief's Great Leap Forward: Beyond Quesnay, Marx and von Bortkiewicz

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  • William Baumol

Abstract

Wassily Leontief's input-output analysis is often interpreted simply as a logical next step in the chain of ideas from Quesnay to Marx to von Bortkiewicz, the last of these having been Leontief's thesis adviser in Berlin. Here, it is shown that input-output is far more than that. Unlike any predecessor, it is a flexible model with widely varied applications that permits direct empirical evaluation. This is illustrated by application to net energy calculations, showing that the normal evaluation methods that ignore input-output considerations probably overestimate by 20 to 60% the net energy yield of projects designed to save energy.

Suggested Citation

  • William Baumol, 2000. "Leontief's Great Leap Forward: Beyond Quesnay, Marx and von Bortkiewicz," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 141-152.
  • Handle: RePEc:taf:ecsysr:v:12:y:2000:i:2:p:141-152
    DOI: 10.1080/09535310050005662
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    References listed on IDEAS

    as
    1. Baumol, William J & Wolff, Edward N, 1981. "Subsidies to New Energy," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 891-913, October.
    2. Heinz Kurz & Neri Salvadori, 2000. "'Classical' Roots of Input-Output Analysis: A Short Account of its Long Prehistory," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 153-179.
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    Citations

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    Cited by:

    1. Guilhoto, Joaquim José Martins, 2011. "Análise de Insumo-Produto: Teoria e Fundamentos
      [Input-Output Analysis: Theory and Foundations]
      ," MPRA Paper 32566, University Library of Munich, Germany.
    2. Grealis, Eoin & O’Donoghue, Cathal, 2015. "The Economic Impact of the Irish Bio-Economy: Development and Uses," Research Reports 210704, Socio-Economic Marine Research Unit, National University of Ireland, Galway.
    3. Guilhoto, Joaquim José Martins, 2001. "Leontief e insumo-produto: antecedentes, princípios e evolução
      [Leotief and input-output: background, principles and evolution]
      ," MPRA Paper 54649, University Library of Munich, Germany.
    4. Alan B. Krueger, 2001. "An Interview with William J. Baumol," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 211-231, Summer.
    5. Xiangzheng Deng & Fan Zhang & Zhan Wang & Xing Li & Tao Zhang, 2014. "An Extended Input Output Table Compiled for Analyzing Water Demand and Consumption at County Level in China," Sustainability, MDPI, Open Access Journal, vol. 6(6), pages 1-20, May.

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