Lerner, Abba Petachja

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LERNER, ABBA PETACHJA (1903–1982), U.S. economist. Born in Russia and educated at the London School of Economics, Lerner began to teach there in 1935. He moved to the United States in 1937 and soon established himself as an eminent teacher in economics. He taught at the New School for Social Research, New York, Michigan State University, Roosevelt University, and the University of California. During 1953–56 he served as an economic adviser to the government of Israel. Regarded as one of the most influential economists of the century, Lerner made numerous significant contributions to economic theory and policy, such as the general equilibrium theory, the factor price equalization theorem, and the concept of seller's inflation. Besides his professional interests – which included international trade, welfare economics, labor and employment, price formation, and the gold standard – Lerner was concerned with problems of social reform and foreign policy. His major publications include The Economics of Control (1944), The Economics of Employment (1951), Essays in Economic Analysis (1953), Everybody's Business (1961), Flation: Not Inflation of Prices, Not Deflation of Jobs (1972), and map: A Market Anti-Inflation Plan (1980).

add. bibliography:

H. Greenfield et al., Theory for Economic Efficiency: Essays in Honor of Abba P. Lerner (1979).

[Joachim O. Ronall /

Ruth Beloff (2nd ed.)]