Input-Output Economics

This collection of writings provides the only comprehensive introduction to the input-output model for which Leontief was awarded the Nobel Prize in 1973. The structural approach to economics developed by Leontief, and known as input-output analysis, paved the way for the transformation of economics into a truly empirical discipline that could utilize modern data processing technology. This thoroughly revised second edition includes twenty essays--twelve of which are new to this edition--that reflect the past developments and the present state of the field. Beginning with an introductory chapter, the book leads the reader into an understanding of the input-output approach--not only as formal theory but also as a research strategy and powerful tool for dealing with a complex modern economy.

The only comprehensive introduction which Leontief has written to his model of Input-Output Economics, for which he was awarded the Nobel Prize in Economic Science in 1972. Many of the chapters have already appeared as articles in journals, but Leontief's writings have a range and consistency that gives this collection a sense of coherence. The book begin with non-technical articles on the theory of Input-Output Economics and progresses to more technical essays, and then to specific applications of the theory. This edition has been thoroughly revised, at least one third of the material being new.