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Lionel Wilfred McKENZIE

Lionel Wilfred McKENZIE, economist in the field of General Equilibrium Theory; International Trade Theory; Economic Growth Theory and Models. Rhodes Scholar, 1939; Fellow, President, Econometric Society, 1958,1977; Guggenheim Foundation Fellow, 1973-1974; Fellow, American Academy of Arts and Sciences, 1967; Member National Academy of Sciences, USA, 1978; Fellow, Center Advanced Study Behavioral Sciences, Stanford, 1973-1974.

Background

  • McKENZIE, Lionel Wilfred was born in 1919 in Montezuma, Georgia, United States of America.

  • Education

    • Bachelor of Arts Duke University, 1939. Master of Arts, Doctor of Philosophy Princeton University, 1942,1956. BLitt. University Oxford, 1949.

    Career

    • Junior Economics, United States War Production Board, 1946. United States Navy, 1943-1945. Instructor, Massachusetts Institute of Technology, Cambridge, Mass., USA 1946.

      Association Professor, Assistant Professor, Duke University, 1948-1957. Research Association, Yale University, 1956. Visiting Association Professor, University Michigan, 1957, Professor of Economics, University Rochester, 1957-1966, John Munro Professor of Economics, University Michigan, 1964-1967.

      Taussig Research Professor, Harvard University, 1980-1981. Wilson Professor of Economics, University Rochester, Rochester, New York, United States of America, since 1967. Association Editor, Int Economic Record, 1964, Journal of Economic Theory, 1970-1973, Journal of International Economics, since 1971.

    Major achievements

    • Rhodes Scholar, 1939. Fellow, President, Econometric Society, 1958,1977. Guggenheim Foundation Fellow, 1973-1974.

      Fellow, American Academy of Arts and Sciences, 1967. Member National Academy of Sciences, USA, 1978. Fellow, Center Advanced Study Behavioral Sciences, Stanford, 1973-1974.

    Views

    On existence of competitive equilibrium: one of the two first rigorous proofs of existence under general conditions, followed by several generalisations of the theorem to include external economies and weaker assumptions of interiority. On stability of equilibrium: a theorem on stability with weak gross substitutes and the weakest form of tâtonnement. On international economics: a general theorem on factor price equalisation, a general theorem on specialisation in production in the Graham model of world trade.

    On optimal growth: various turnpike theorems in the context of Von Neumann’s model and a multi-sector Ramsey model, with and without a discount factor.

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