The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Novozhilov, Viktor Valentinovich (1892–1970)

  • Holland Hunter
  • Robert W. Campbell
Reference work entry


Novozhilov was born in Khar’kov, and died in Leningrad. He was instrumental, along with the mathematician Leonid Vital’evich Kantorovich, in reviving a mathematical approach to economic theory in the USSR after Stalin’s death, and in laying a basis for a modern theory of value and allocation.


Capital intensity Depreciation Inversely related expenditures Kantorovich, L. V. Labour theory of value Nemchinov, V. S. Novozhilov, V. V. Opportunity cost Resource allocation Value theory 

JEL Classifications

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  1. Campbell, R.W. 1961. Marx, Kantorovich, and Novozhilov: Stoimost’ versus reality. Slavic Review 20: 402–418.CrossRefGoogle Scholar
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  3. Grossman, G. 1953. Scarce capital and Soviet doctrine. Quarterly Journal of Economics 67: 311–343.CrossRefGoogle Scholar
  4. Holubnychy, V. 1982. V.V. Novozhilov’s theory of value. In Soviet regional economics: selected works of Vsevolod Holubnychy, ed. I.S. Koropeckyj. Edmonton: Canadian Institute of Ukrainian Studies, University of Alberta.Google Scholar
  5. Petrakov, N.I. 1972. Nauchnaia i pedagogicheskaia deiatel’nost’ V.V. Novozhilova [The scientific and pedagogical work of V.V. Novozhilov]. In Novozhilov (1972).Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Holland Hunter
    • 1
  • Robert W. Campbell
    • 1
  1. 1.