The Structure of American Economy, 1919-1929

Leontief, W. W. (1951). The Structure of American Economy, 1919-1929. Harvard University Press.

Type

Book chapter

Intellectual base

Review or monograph

Year

1951

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Cited by

1 citation across 1 artifact.

Domain-specific

• Circular Flow
  • Introductory macroeconomics — the canonical first picture of the economy: the two-loop household-firm diagram that converts "the economy" into named nodes and edges and is the standard pedagogical entry point. National accounting — the identity Y = C + I + G + (X − M) is the algebraic shadow of the diagram, and the leakages-equal-injections closure (S + T + M = I + G + X) is the consistency check the accounts must satisfy. Open-economy macroeconomics — the extended model adds government, the financial sector, and the rest of the world, locating fiscal shocks, trade balances, and saving-investment gaps at named edges of the loop. Sectoral / input-output analysis — Leontief's tables generalize the two-aggregate diagram to many industries

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