The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Fel’dman, Grigorii Alexandrovich (1884–1958)

  • Michael Ellman
Reference work entry


Fel’dman was one of the founders of the theory of economic growth, the economics of planning and development economics. His contributions were made in the USSR in the late 1920s. He developed a two-sector growth model and showed how different growth rates implied different economic structures. He derived two theorems. He is regarded as the father of the ‘heavy industry first’ strategy of economic development. A brilliant pioneer, Fel’dman’s work was cut short by the Stalinists. Later analysis and international experience revealed a number of limitations of a narrowly Fel’dmanite approach to economic policy.


Development economics Fel’dman, G. Fel’dman’s two theorems Gosplan Growth, models of Kalecki, M. Planning Soviet growth record 

JEL Classifications

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Soviet Evaluations

  1. Planovoe khozyaistvo. 1930. Report of the discussion in Gosplan’s economic research institute of February and March 1930. No. 3, 117–211.Google Scholar
  2. Vainshtein, A. and G. Khanin 1968. Pamyati vydayushchegocya sovetskogo ekonomista-matematika G.A. Fel’dmana [In memory of the outstanding Soviet mathematical economist G.A. Fel’dman]. Ekonomika i matematicheskie melody 4(2).Google Scholar

English-Language Works

  1. Allen, R. 2003. The development problem in the 1920s. Ch. 3. In Farm to factory. Princeton: Princeton University Press.Google Scholar
  2. Chng, M. 1980. Dobb and the Marx-Fel’dman model. Cambridge Journal of Economics 4: 393–400.Google Scholar
  3. Dobb, M. 1967. The question of ‘Investment priority for heavy industry’, Ch. 4 of Papers on Capitalism, Development and Planning. London: Routledge.Google Scholar
  4. Domar, E. 1957. A soviet model of growth. In Essays in the theory of economic growth. New York: Oxford University Press.Google Scholar
  5. Erlich, A. 1978. Dobb and the Marx-Fel’dman model: a problem in Soviet economic strategy. Cambridge Journal of Economics 2: 203–214.CrossRefGoogle Scholar
  6. Kalecki, M. 1969. Introduction to the theory of growth in a socialist economy. Oxford: Blackwell.Google Scholar
  7. Kornai, J. 1992. The socialist system: The political economy of communism. Oxford: Oxford University Press.CrossRefGoogle Scholar
  8. Mahalanobis, P. 1953. Some observations on the process of growth of national income. Sankhya 12: 307–312.Google Scholar
  9. Mahalanobis, P. 1955. The approach of operational research to planning in India. Sankhya 16: 3–130.Google Scholar
  10. Sen, A., and K. Raj. 1961. Alternative patterns of growth under conditions of stagnant export earnings. Oxford Economic Papers 13: 43–52.CrossRefGoogle Scholar
  11. Tinbergen, J., and H. Bos. 1962. Mathematical models of economic growth. New York: McGraw.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Michael Ellman
    • 1
  1. 1.