From Wikipedia, the free encyclopedia.
Winner of the 1975 Nobel Prize in Economics, Leonid Vitaliyevich Kantorovich (1912-1986) is famous for his theory and development of techniques for the optimal allocation of resources.
Kantorovich worked for the Soviet government. He was given the task of optimizing production in a plywood industry. He came up with the mathematical technique known as linear programming. He authored several books including The Mathematical Method of Production Planning and Organization and The Best Uses of Economic Resources''.
The Nobel Prize, which he shared with Tjalling Koopmans, was given "for their contributions to the theory of optimal allocation of resources."
