The total number of multiplications involved in the practical solution of our problem exceeds 450,000. This task alone would mean a two-year job, at … - Wassily Leontief

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The total number of multiplications involved in the practical solution of our problem exceeds 450,000. This task alone would mean a two-year job, at 120 multiplications per hour. Fortunately, the recent invention of the Simultaneous Calculator by Professor Wilbur of the Massachusetts Institute of Technology has made it possible to perform all the necessary computations in a small fraction of the time they otherwise would have required. This apparatus solves nearly automatically a system of nine simultaneous linear equations.

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About Wassily Leontief

Wassily Wassilyovich Leontief (August 5, 1906 – February 5, 1999), was a Russian-American economist notable for his research on how changes in one economic sector may have an effect on other sectors. Leontief won the Nobel Committee's Nobel Memorial Prize in Economic Sciences in 1973, and three of his doctoral students have also been awarded the prize (Paul Samuelson 1970, Robert Solow 1987, Vernon L. Smith 2002).

Also Known As

Native Name: Васи́лий Лео́нтьев
Alternative Names: Wassily W. Leontief Wassily Wassilyevich Leontief
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Additional quotes by Wassily Leontief

Much of current academic teaching and research has been criticized for its lack of relevance, that is, of immediate practical impact... The trouble is caused, however, not by an inadequate selection of targets, but rather by our inability to hit squarely any one of them... The weak and all too slowly growing empirical foundations clearly cannot support the proliferating superstructure of pure, or should I say, speculative economic theory.

Computers and robots replace humans in the exercise of mental functions in the same way as mechanical power replaced them in the performance of physical tasks. As time goes on, more and more complex mental functions will be performed by machines. Any worker who now performs his task by following specific instructions can, in principle, be replaced by a machine. This means that the role of humans as the most important factor of production is bound to diminish—in the same way that the role of horses in agricultural production was first diminished and then eliminated by the introduction of tractors.

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