Economists
Simon Kuznets
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Simon Kuznets was a Russian-born American economist and statistician awarded the 1971 Nobel Memorial Prize in Economic Sciences for turning economics into a more empirical, measurement-driven science. He developed the modern concept of gross domestic product for a 1934 report to the United States Congress, giving policymakers a standardized way to track the scale of a depression-hit and later wartime economy, while warning throughout his career that a national income figure on its own says little about a population's actual welfare.
Facts
Cross-Tradition Connections
Associated With School
Wikipedia's own infobox names Institutional economics as Kuznets' school or tradition, through his doctoral mentor Wesley Clair Mitchell, a founder of the National Bureau of Economic Research where Kuznets built the first official US national income accounts.
Concepts Originated
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1. Wikipedia
Wikimedia FoundationGross domestic product, History sectionQuote, Gross domestic product, History section
The modern concept of GDP was first developed by Simon Kuznets for a 1934 U.S. Congress report.
1. Wikipedia
1. Wikipedia
Wikimedia FoundationAssociated With School: Institutional Economics, Simon Kuznets, Early life and education sectionQuote, Associated With School: Institutional Economics, Simon Kuznets, Early life and education section
Kuznets then studied at Columbia University under the guidance of Wesley Clair Mitchell.
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