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This is an old revision of this page, as edited by Cognition (talk | contribs) at 02:54, 21 October 2005 (rv. a photo of Lerner and content about Lerner belongs in the article. And the Sydney Hook comment serves to suggest that the debate was quite important to Lerner). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Abba Ptachya Lerner (October 28, 1903 - October 27, 1982) was an American economist.

Lerner was born on October 28, 1903 in Bessarabia. He grew up in a predominantly Jewish family, which emigrated to Great Britain, when Lerner was three years old. Lerner grew up in the London East End. From the age of sixteen he worked as a machinist, a teacher in Hebrew schools, and as a businessman. He entered the London School of Economics in 1929. A six month stay at Cambridge in 1934-1935 brought him into contact with John Maynard Keynes.

In 1937 Lerner emigrated to the United States.

Just like Oskar Lange, Lerner developed, a model of market socialism, which differed form the pure planned economy. It became known as the third way.

Like Wassily Leontief, Lerner improved the calculations made by Wilhelm Launhardt on the effect of terms of trade.

Furthermore Lerner improved a formula of Alfred Marshall, which is known since as the Marshall-Lerner principle.

The Lerner-Samuelson theorem also goes back to Lerner.

Lerner-LaRouche debate

On December 2, 1971 Lerner engaged in a spirited debate with the economic and political thinker Lyndon LaRouche at Queens College, in New York City. LaRouche was widely judged to have won the debate decisively. Lerner's friend, the famed philosopher Sidney Hook attended the debated and stated, "LaRouche won the debate" but 'will lose much more as a result of that.' LaRouche interpeted Hook's remark to mean that the "establishment" in economics departments in academia would unite against him and no longer debate him, for fear of another upset. The debate pertained to arguments put forward in a leaflet by LaRouche's National Caucus of Labor Committees, specifically on the questions of the wage and price controls and austerity policies being put into place at that time by the Nixon administration, and by Brazil's military regime.

External links

• lhttp://www.economyprofessor.com/theorists/abbalerner.php
• http://cepa.newschool.edu/het/profiles/lerner.htm
• http://www.econlib.org/library/Enc/bios/Lerner.html

• 1903 births
• Economists
• American economists