Novozhilov, Viktor Valentinovich

Born Oct. 15 (27), 1892, in Kharkov; died Aug. 15, 1970, in Leningrad. Soviet economist. Professor (1937); doctor of economic sciences (1941) and Honored Scientist of the RSFSR (1957).

Novozhilov graduated from the University of Kiev in 1915. His major works, primarily on statistics, economics, industry, and resource optimization, were concerned with the balance between expenditures and results in the Soviet economy. In his researches, Novozhilov used the methods of modern economics and mathematics. Utilizing norms of resource effectiveness, he demonstrated the necessity of taking reverse flows of inputs into account when calculating costs to the national economy.

Novozhilov devised quantitative economic models that thoroughly substantiated the value of using normative coefficients of efficiency. While his initial models had to do with the calculation of the cost effectiveness of capital outlays, he subsequently developed a model for the optimization of all resources of production, with a view to determining the optimal mix of investment and consumption for the achievement of a maximum growth in labor productivity.

Along with Academicians L. V. Kantorovich and V. S. Nemchinov, Novozhilov was awarded a Lenin Prize in 1965 for the scientific development of economic models and methods of linear programming.