Eugen Slutsky
Eugen Slutsky was born 19 April, 1880 in Novoe, Russia. Slutsky initially intended to become a mathematician, entering the University of Kiev in 1899. However he was soon expelled for participating in student revolts. After studying engineering in Munich, he returned to Kiev and ended up getting a doctorate in law. He graduated with the Gold Medal in 1911 for his paper The theory of marginal utility. He eventually taught at the Kiev Institute of Commerce (1913-26) and the University of Moscow (1934-38) as well as working at the Conjuncture Institute (1926-30), Central Institute of Meteorology in (1931-34), and the USSR Academy of Sciences. (1934-)
It was the work of the Lausanne School in economics that attracted him and yielded up his first economics paper in 1915. In his 1915 paper, he presented the Slutsky decomposition of demand functions into substitution and income effects (i.e., the Slutsky Equation). His other prominent contribution to economics came in 1927, when he showed that a series of shocks can be summed up to yield regular cyclical properties. This paper alongside Frisch's work began the shock-dependent business cycle that precedes the New Classical theory of today. The famous Slutsky-Yule theorem was also laid out in that paper. Most of his other work concentrated in statistics and probability theory. In 1925 he introduced the famous Slutsky Theorem.
Eugen Slutsky died 10 March, 1948.