Month: December 2020

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Economists Funny Business

Oberlin and Syracuse. Baseball and John R. Commons, 1886 and 1898

 

While getting material for the previous post that provided a bibliography of sociology at Oberlin prepared by John R. Commons in 1891-92, I came across two instances when baseball was important enough to warrant mention in his autobiography.  There is an allegory in Commons’ belief that he had discovered the “curve ball” in 1886, only to discover that it, like fire and the wheel, it had been discovered earlier. (See, “The story of baseball’s first curveball“). It defies belief, but yes, in 1898 it was considered radical for someone to argue that workers had a right to play baseball on a Sunday, so radical as to result in the elimination of a professorship! 

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Curve Ball and Bean Ball

“I had read in the printing office at Leesburg, Florida, in the year 1885-86, that Herbert Spencer had recently maintained that, according to the science of physics, it was impossible to pitch a curved ball. He knew not the seams on the ball and forgot the friction of the air. His was evidently a single-track mind. Ever after, I looked for the omitted factors, or the ones taken for granted and therefore omitted, by the great leaders in the science of economics. That was how I became an economic skeptic.

My brother and I experimented on Spencer’s omitted factors, with our log house as backstop. I learned all four curves. When I returned to Oberlin in April, 1886, the baseball season was on. The seniors, my former classmates, were sweeping everything. My brilliant friend, Job Fish, was their pitcher. He could get his lessons in a third of the time it took me, and then gave the rest of the time to preparing me for recitations. His was a huge muscular frame and he could throw a straight ball like a cannon. Nobody, it seems, had ever heard of a curved ball. The catcher on the junior side discovered my twisters. He made the signs to me. The slow up-curve did the business. Job Fish got the only “out” that I pitched. It came straight to me like a thunderbolt. Somehow, unconsciously, from boyhood habit, I reached out my left hand and held it. I could not use that hand for two weeks. My friend, the catcher, did not make the “out” sign to me again. He stuck to the “up” sign, though my “ups” were slow. Nobody got to first base in the first eight innings. The score stood 7 to 0 in our favor. Then Job got mad. He quit throwing over the base and threw at me. Certainly he rattled me when I came to the bat. He hit me on the side of the head, adjoining the temple. Evidently I was not an all-round ball player. My playing was academic, like Herbert Spencer’s theory. I had not learned to dodge straight lightning. I insisted on pitching the ninth inning. But the boys of my own team physically held me down. They took me to the doctor. He encouraged us all by saying that such a blow did not usually show its results until ten years later. They forced me to bed, where my indigestion returned for a week. My substitute pitcher, Harry Brown, afterwards chaplain to Roosevelt’s Rough Riders, could not, by his straight ball, keep the seniors from making ten runs in the ninth inning. But the Athletic

Association held a mass-meeting that afternoon. They voted Job unanimously out of baseball forever.

Ten years later I had a letter from Job, then a high official with the Otis Elevator Company. He wrote that he had been worrying about me these ten years, but seeing that I was not yet dead, or insane, he must tell me how ashamed and glad he was. We returned to our good friendship. Poor fellow, he died within a year or two, and here I am, forty years after the doctor’s allotted ten years, though with the same indigestion.

I never played baseball again.

In this old age of mine I began to brag about pitching the first curved ball in America. I was able to get away with it on a visit to Oberlin, where I was currying favor with the students to listen to my lecture on political economy. There were two witnesses on the faculty who got up and testified. They had seen the game. Then I tried to brag it out, in Madison, on my fifty-year-old Town and Gown Club. One member figured out that he had seen a curved ball in 1884. Therefore, I was the first at Oberlin but not the first in America. So it is ever thus. I may do something stunning or unexpected, but, if so, I soon drop out because somebody else does it better or has already done it. I have found my most brilliant thoughts anticipated long before, in my study of earlier economists in the original.”

Source: John R. Commons. Myself. New York: Macmillan, 1934. Pp. 28-30.

Play Ball…on Sunday (on your own account)

“One Sunday morning, at Syracuse, I arrived on the night train from a two-weeks’ residence at the University Settlement in New York. In the morning newspaper, on the train, I read an announcement that on that Sunday evening there would be a union meeting of all the churches at the municipal auditorium to protest against the mayor’s refusal to enforce the law against Sunday baseball. I was named as one of the speakers. I was startled because I had not received any invitation to speak. The Catholic mayor was my friend, and I was trying to omit modern religion from sociology and stick only to ethnology. I went around immediately to see my friend, the Methodist minister, whose name appeared in the paper as manager of the meeting. I asked him how it came that I was announced as one of the speakers without previous invitation. He said they had been trying to get a workingman to speak but could find only one who was willing. He turned out to believe that the biblical Sunday was Saturday, and that our Sunday came over from the heathen who worshiped the Sun-god. Evidently he was a scholar, but evidently also disqualified as an opponent of Sunday baseball. So they thought I was as near being a working man as they could find, and announced me because it was too late to ask me by wire.

Chancellor Day was to be the chairman and principal speaker of the mass meeting. There was also the city attorney representing the mayor. His speech was quite political and evasive. I was too timid to speak at the meeting, but finally the minister persuaded me. I looked up one of my labor acquaintances to take me around to all the ball grounds on that Sunday afternoon. We found there large crowds of sober workingmen with their families, with no admission fees, and with pick-up teams of players from the various industries. At the mass meeting of about 3,000 I spoke after the politician. I recited what I had seen during the day. I opposed professional baseball with admission fees on Sunday, but contended that the city should open up free parks, on the abandoned saltpans of the old town of Salina, for all kinds of athletic games for workingmen on that day. As long as employers kept workingmen from having a Saturday half-holiday, the only relief for exercise and sobriety was Sunday. I was hissed by the audience. The Chancellor made no criticism but rather excused me. The daily newspapers stood for me.

A few days afterwards the Chancellor called me to his office. He told me of letters received from ministers and others declaring they would withdraw their children if I were not removed. His reply to them was that I had perfect liberty to speak what I thought, though he would be sorry to lose their children.

A year or so later, in the month of March, 1899, he called me in again. He said that the trustees, at their preceding meeting in December, had voted to discontinue the chair in sociology. I was not dismissed but my chair was pulled out from under me. I did not know about it until three months later. He explained that when he went out on his trips to obtain money for the University from hoped-for contributors, they refused as long as I held a chair in the University. Also, at a recent national meeting of college presidents which he attended, all had agreed that no person with radical tendencies should be appointed to their faculties. Therefore I had no hope for another college position. He was convincing and I never tried to get another teaching job.

I began to draw some inferences …. It was not religion, it was capitalism, that governed Christian colleges. Afterwards I sought the fundamental reason, and included it in my historical development of Institutional Economics. The older economists based their definitions of wealth on holding something useful for one’s own use and exchange. I distinguished a double meaning. The other meaning was, withholding from others what they need but do not own. This was something real to me and the Chancellor. It made possible a distinction of Wealth from Assets which I began to think economists and laity had failed to distinguish.”

Source: John R. Commons. Myself. New York: Macmillan, 1934. Pp. 56-58.

Image Source: Ibid. p. 38.

Categories
Bibliography Economics Programs Economist Market Economists Indiana Sociology

Oberlin. Sociology bibliography by John R. Commons, 1891-1892

 

The core of this post is a twelve printed page bibliography of sociology prepared by the institutional economist, John R. Commons (1862-1945), during the one year he taught at his alma mater, Oberlin College in 1891-92. I have been able to provide links to close to 100% of the items he has listed. From the Oberlin College catalogue for that year I have transcribed the course offerings and their brief descriptions. A brief chronology of Commons’ education and professional career was put together from his very readable autobiography, Myself (1934) for this post.

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John Rogers Commons
Education and Professional Career

John R. Commons graduated from Oberlin College with an A.B. in 1888; A.M. (honorary) awarded in 1890.

1888-1890. Two trustees of Oberlin College lent Commons a total of $1,000 to finance his first two years of graduate work at Johns Hopkins University.

“Within a year and a half came my usual fate. I failed completely on a history examination. This ruined my hopes of a fellowship to carry me through the third year. So I had only two years of graduate work and never reached the degree of Ph.D., the sign manual of a scholar.” Myself, p. 42.

1890-91. Taught at Wesleyan ($1000 salary). Commons’ contract was not renewed, he was considered a poor teacher.

“Three months before the year was ended President Raymond notified me that I would not be needed the next year, because I was a failure as a teacher. My students were not interested.” Myself, p. 45.

1891-92. Associate Professor of Political Economy at Oberlin. The salary at Oberlin $1,200 “would not pay expenses, to say nothing of debts”.  Sociology bibliography from that time transcribed below.

1892-95. Indiana University. Increase in salary of $800 to $2,000 was his reason to leave Oberlin to move to Bloomington, Indiana. There he received a job offer for $2,500 at Syracuse in 1895 and went to the president of Indiana, hoping to negotiate a counter-offer. “Evidently he [the President] was loaded, for he immediately pulled the trigger: ‘Accept the offer at once.’”

1895-99. Syracuse University. Mr. Huyler of “Huyler Candy” fame established a chair in sociology at Syracuse.

“Afterwards, when sociology was separated from political economy in university teaching, charity was transferred to sociology. I never could reconcile myself to this separation. I taught “sociology” at Syracuse University and got out a book in 1895 on machine politics, which was to be cured, I thought, by proportional representation.” Myself, p. 43.

“I taught ethnology, anthropology, criminology, charity organization, taxation, political economy, municipal government, and other things, all under the name of sociology.” Myself, p. 53.

The chair for sociology was abolished after the university was confronted with serious resistance from donors who wanted Commons fired for having taken a public stand both against professional baseball with ticketed admission on Sundays and for the right of workers to play baseball on their day off, i.e. Sunday.

1899-1904. Odd jobbing.

Set up a Bureau of Economic Research in New York. Published the first weekly index of wholesale prices. Commons’ sponsor, George Shipley, did not like the fact that the index number stopped showing  a decline in prices and cancelled Commons’ contract with him in September 1900. The index number project was discontinued but within a few weeks a former student, E. Dana Durand, hired Commons to finish a report on immigration for the Industrial Commission.

“It was a comparison of ten to fifteen races of immigrants from Eastern and Southeastern Europe, where they knew only dictatorship, in two great American industries to which they had come for what they thought was liberty. In one of these industries, clothing, they knew, at that time, only the cycle of revolution and dissolution. In the other, coal mining, they were learning fidelity to contracts—their trade agreements—in forming which they themselves had participated through representative government. It was their first lesson in Americanization, the union of Liberty and Order. Afterwards I wrote a series of articles for the Chautauqua Magazine and revised them at Madison for a book on Races and Immigrants in America, which was the title of one of my first courses of lectures at the University.” Myself, pp. 73-74.

Commons participated  as immigration and labor expert in the writing of the Final Report of the Industrial Commission, Vol. XIX (1902).

Move back to New York, hired as an assistant to the secretary of the National Civic Federation, Ralph M. Easley. Worked on taxation and labor conciliation.

“It was here that I first learned to distrust the ‘intellectuals’ as leaders in labor movements. I have known scores of them since then and have found other scores in my long study of the history of labor movements. Gompers, the clearest and most outspoken of all trade unionists, denounced them as the ‘fool friends’ of labor. I always look for them and try to clear them out from all negotiations between capital and labor, and from the councils of labor. My friends, the economists, often deplored this antagonism of American labor organizations toward the intellectuals. But they simply did not know the kind of intellectuals that come to leadership in labor movements. The kind is not the studious economist and statistician who cannot make an oratorical public speech, and who takes a broad social point of view which neither capitalists nor laborers understand. Such an intellectual is discarded and overwhelmed by the passions and cheers for a speaker who can hold a great audience. I have tried it and know. Such intellectuals are ‘class conscious’ instead of ‘wage conscious,’ to use the distinction proposed by my friend Selig Perlman. But the studious economist is nearly always ‘social conscious.’” Myself, p. 87.

1904-33. University of Wisconsin.

This period is worth its own post, sometime.

Source: John R. Commons, Myself, New York: Macmillan, 1934.

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Course Offerings at Oberlin 1891-1892

Political Science and Sociology.

  1. Political Economy.—Ely’s Introduction to Political Economy, and monographs on special topics. Professor Commons.
    Spring Term. Mo., Tu., Th., Fr., Sa. 55 hours.
    Elective for Sophomores.

This course is mainly historical and descriptive, showing the development of modern industrial conditions and the significance of modern problems. It serves as a necessary introduction to the courses in sociology and economics.

  1. Sociology.—Lectures and Recitations on assigned readings. Professor Commons.
    Through the year. We., Fr. 71 hours.
    Elective for Juniors and Seniors who have taken Political Science 1.

This course is introductory to Courses 4 and 5 of the Senior year. In the Fall term primitive society is studied with reference to beliefs, the institutions of the family, clan and tribe, and the origins of property and social classes. In the Winter and Spring terms social classes and institutions are traced through English history from the Saxon invasion to the present time. In the latter part of the Spring term the same line of study is followed in the American field. The aim is to show the evolution of modern social classes, and the development of poor laws and class legislation. Students will be examined upon the outlines of English history. It is expected that those who elect the course will continue it through the year.

  1. American Institutional History.—Fiske’s Civil Government in the United States. Professor Commons.
    Spring Term. We., Fr. 22 hours.
    Elective for Juniors who have taken Political Science 2.

The work is a continuation of the political side of Sociology into American History. Students are examined upon the outlines of American History.

  1. General Sociology.—Lectures, Readings, and Recitations. Professor Commons.
    Fall Term. Tu., Th., Sa. 38 hours.
    Elective for Seniors who have taken Political Science 1 and 2.

The attempt is here made to formulate the general principles of social organization and evolution. Attention is given to the history of social and political theories, and the works of the principal sociologists are studied and compared.

  1. Social Problems.—Lectures and Recitations. Professor Commons.
    Winter Term. Tu., Th., Sa. 35 hours.
    Elective for Seniors who have taken Political Science 1, 2, and 4.

The study of Charities, Pauperism, Intemperance, Penology, Education, Immigration, Race Problems, the Family, and Plans for social reform. Reports are made by students on assigned readings and investigations.

  1. Finance.—Ely’s Taxation in American States and Cities. Adams’ Public Debts, with lectures. Professor Commons.
    Fall and Winter Terms. Tu., Th., Sa. 73 hours.
    Elective for Juniors and Seniors who have taken Political Science 1.

Attention is given to the history and practice of taxation, to Public Debts and Public Industries. Students are required to consult public documents and to make reports on assigned topics. Those who elect the course are required to continue it through both terms.

  1. Corporations and Railways.—Lectures, Readings, and Reports. Professor Commons.
    Fall Term. Tu., Th., Sa. 38 hours.
    Omitted in 1892-93.
    Elective for Juniors and Seniors.

The history of corporation laws is studied, and the laws of the United States are compared with those of other countries. Railways are then studied in the same manner.

  1. Financial History of the United States.—Lectures, Readings, and Reports. Professor Commons.
    Winter Term. Tu., Th., Sa.
    Omitted in 1892-93.
    Elective for Juniors and Seniors.

Historical investigations are made of the different sources of income of the National Government, of the public debt and paper money.

  1. Economic Investigations.—Two hours per week through the year, counting as a three hours’ course. Professor Commons.
    Elective for Seniors who have shown proficiency in economic studies and are able to read German.

The investigations of students are guided by the instructor. Reports on the progress of work are made, and informal discussions and lectures are conducted by both instructor and students. The College libraries are well supplied with material for original study. In 1892-93, the investigations are concerned with economic theories and the distribution of wealth.
Students electing this course are required to continue it through the year.

  1. Advanced Political Economy.—Lectures with discussions. Professor Monroe.
    Original papers by the class.
    Spring Term. Tu., We., Th., Fr., Sa. 54 hours.
  2. English Constitution and Government.—The English and American governmental institutions compared. Lectures. Professor Monroe.
    Winter Term. Tu., We., Th., Fr., Sa. 58 hours.

Source: Catalogue of Oberlin College for the year 1891-1892, pp. 79-81.

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A POPULAR BIBLIOGRAPHY OF SOCIOLOGY
JOHN R. COMMONS,
ASSOCIATE PROFESSOR OF POLITICAL ECONOMY,
OBERLIN COLLEGE.

OBERLIN, OHIO: THE OBERLIN NEWS PRESSES, 1892.

 

A POPULAR BIBLIOGRAPHY OF SOCIOLOGY.

The aim in compiling this Bibliography has been to furnish the general reader, especially the Christian minister and worker, a list of the best available books on important Sociological problems. Specialists, or those who desire to carry their studies further, can find extensive references in many of the books here mentioned to works in English and other languages. A more complete bibliography is the “Readers’ Guide in Economic, Social, and Political Science,” published by the Society for Political Education, New York.

Useful suggestions have been received from Gen. R. Brinkerhoff, of Mansfield, Ohio; Rev. Samuel W. Dike, LL. D., secretary of the National Divorce Reform League; Prof. Richard T. Ely, of Johns Hopkins University; Mr. W. B. Shaw, of the State Library, Albany, N. Y.; A. G. Warner, Ph. D., Superintendent of Charities of the District of Columbia.

The prices given are the publishers’ retail prices. Re ductions can usually be secured from any bookseller.

This is the first of a series of bulletins which the library of Oberlin College hopes to publish from time to time. It can be obtained free of charge on application to A. S. Root, Librarian of Oberlin College, Oberlin, Ohio.

GENERAL SOCIOLOGY.

Ely, Professor Richard T. Social Aspects of Christianity. N. Y., T. Y. Crowell & Co. 132 pages, price 90 cents.

This is the first book recommended for study by the Christian Social Union. It is a reprint of essays given at different times and places. It gives a forcible statement of the present attitude of the church toward social problems, and suggests principles and plans for social reform. It is well suited to arouse interest in, and show the importance of, Christian Sociology.

Ely, Professor Richard T. An Introduction to Political Economy. N. Y., Chautauqua Press, Hunt & Eaton, 1889. 358 pages, price $1.

A solid basis for studies in Sociology can be obtained only by beginning with that branch of Sociology which has reached most scientific development — Political Economy. This book is historical and descriptive, and furnishes an admirable introduction to Sociology. It contains selected bibliographies.

Ward, Lester F. Dynamic Sociology. N. Y., D. Appleton & Co., 1883. 2 vols., price $5. [Volume I; Volume II]

The ablest systematic treatise in English on Sociology. Superior to Comte or Spencer. The author, however, is biassed by grossly materialistic views of Christianity. He should be read with constant reference to works like those of Fremantle and Westcott, mentioned below.

Fremantle, Canon W. H. The World as the Subject of Redemption. N. Y., 1885. 443 pages, price $3.50. A cheaper edition is announced to appear soon by Longmans, Green & Co., N. Y.

“A magnificent description of the purpose of Christianity.” — Professor Ely. It should be in the hands of every minister of the gospel. The author discusses admirably the fundamental principles involved in the practical application of Christianity to Sociology.

Westcott, Canon B. F. Social Aspects of Christianity. London and N. Y., Macmillan & Co., 1887. 202 pages, price $1.50.

Sermons delivered at Westminster in 1886. Many good points.

Crooker, J. H. Problems in American Society. Boston, G. H. Ellis & Co. 293 pages, price $1.25.

Contains chapters on education, scientific charity, temperance, politics, religion. Good.

Social Science Library of the best authors. Edited by Rev. W. D. P. Bliss. N. Y., Humboldt Publishing Co. There have been issued seven numbers, as follows: (1) Rogers, Six Centuries of Work and Wages; (2) the Socialism of John Stuart Mill; (3) and (4) The Socialism and Unsocialism of Thomas Carlyle [Volume I; Volume II]; (5) William Morris, Poet, Artist, Socialist; (6) The Fabian Essays; (7) The Economics of Herbert Spencer. Price, paper cover, 25 cents each, or $2.50 a year for twelve numbers. Cloth extra, 75 cents each, or $7.50 a year for twelve numbers.

Public Opinion. Washington, D. C., Public Opinion Co. Weekly, price $3 per year.

Contains well-selected extracts from representative periodicals, giving all sides of current social and economic discussions. Sample copies may be obtained free on application.

Economic Review. Published quarterly for the Oxford University Branch of the Christian Social Union. First number, January, 1891. American agents, James Pott & Co., N Y. Subscription $2.50, single copies 75 cents.

The Christian Social Union is an organization inside the Established Church for the study of social questions. The Economic Review has been also adopted as the organ of the American Branch of the Union.

 

THE STATE.

Bluntschli, J. K. Theory of the Modern State. Translated from the sixth German edition. London and N. Y., Macmillan, 1885. 518 pages, price $ 3. 25.

This book is for the Modern State what Aristotle’s Politics is for the Ancient. It cannot be too highly praised, both for its historical and its philosophical insight. It presents the State as the outcome of social and economic forces, and in this regard its discussion of social classes is especially able and important.

Wilson, Woodrow. The State. Boston, D. C. Heath & Co., 1890. 686 pages, price $ 2.

A condensed description of the origin and growth of political institutions, and comparisons of Ancient and Modern States. Able chapters on law and the functions of government.

Adams, Henry C. The Relation of the State to Industrial Action. Baltimore, American Economic Association, 1888. 85 pages, price $1. (Vol. I, No. 6 of its “Publications.”).

An able presentation of fundamental principles regarding the industrial activities of the State.

Bryce, James. The American Commonwealth. [Volume I; Volume II, 3rd ed., 1897)] N. Y., Macmillan & Co., 1891. 2d edition, price $ 2.

 

THE FAMILY.

Westermarck, E. The History of Human Marriage. London, Macmillan, 1891. 664 pages, price 145.

“The best single book on the history of the Institution.” — Dr. Dike.

Starcke, C. N. The Primitive Family. Translated. N. Y., D. Appleton & Co., 1889. 315 pages, price $ 1. 75.

A valuable collection of facts and review of theories.

The English Bible for the family in Hebrew life.

Coulanges, Fustel de. The Ancient City. Translated from the French by Willard Small. Boston, Lee & Shepard, 1874. 529 pages.

Best for the family in Greco-Roman life.

Report of the United States Commissioner of Labor on Marriage and Divorce. Washington, 1889. 1074 pages.

The most complete source of information regarding the law and statistics of Marriage and Divorce in the United States and Europe. A second edition is already nearly exhausted.

Reports of the National Divorce Reform League contain useful discussions and references to literature. Published annually, 1886 to date. Rev. Samuel W. Dike, LL. D., corresponding secretary, Auburndale. Mass.

Reference should be made to chapters in other works. To writers on Social Ethics: Lotze, Practical Philosophy, translated and edited by Prof. G. T. Ladd, Ginn & Co. Hegel, edited by Prof. S. P. Morris. Wuttke, Christian Ethics, [Volume 1 History of Ethics; Volume II Pure Ethics] American edition. Writers on Political Science: Mulford, The Nation; Bluntschli, The Theory of the State; Woolsey, Political Science [Volume I; Volume II]. Writers on Law and Social Institutions: Sir Henry Maine’ s works, Gomme, Village Communities, Seebohm, The English Village Community. Law Books: Gray, Husband and Wife; Franklin, Marriage and Divorce.

 

LABOR.

Besides the following, there are also books mentioned under the heading “Remedies,” which describe the history and present conditions of the working classes.

Ely, Richard T. The Labor Movement in America. N. Y., T. Y. Crowell & Co., 1886. 383 pages, price $1.50.

A historical account of Labor organizations and communistic and socialistic movements in the United States. An Appendix gives platforms of Labor organizations and illustrative extracts from labor literature. The best.

Rogers, J. E. Thorold. Work and Wages. N. Y., Putnam. 591 pages, price $3. London, Swan Sonnenschein & Co. Abridged edition, 206 pages, price 25. 6d. Also abridged edition edited by Rev. W. D. P. Bliss, Humboldt Publishing Co., New York. Price, cloth 75 cents, paper 25 cents.

A history of English labor during the past six centuries, condensed by the author from his original investigations. A standard work.

Toynbee, Arnold. Industrial Revolution in England. London, Rivington, 1884. N. Y., Humboldt Publishing Co., 1890. Paper 60 cents, cloth $1.

Contributes admirably to a clear understanding of the rise and causes of present industrial problems.

Booth, C., ed. Labour and Life of the People. London, Williams & Norgate, 1889-’91. 2 vols. Vol. 1, East London, 10s. 6d; vol. 2, London, 215.

By far the most comprehensive and scientific investigation yet made into the actual conditions of a city’ s working population. No student of social science can dispense with it.

Riis, Jacob A. How the Other Half Lives. N. Y., Scribner, 1889. 304 pages, price $ 2.50.

The best description of New York tenements.

Campbell, Helen. Prisoners of Poverty. Boston, Roberts Bros., 1887. 257 pages, price $1.

A startling revelation of the life of women wage -workers in New York city, “based upon the minutest personal research.”

Campbell, Helen. Prisoners of Poverty Abroad. Boston, Roberts Bros., 1890. 248 pages, price $1.

A useful book.

Willoughby, W. F., and Graffenried, Miss Clare de. Child Labor. American Economic Association, 1890. 149 pages, price 75 cents. (Publications of the Am. Econ. Ass’n, vol. 5, No. 2.)

Two prize essays. The first is historical, and deals with general principles. The second gives the results of personal observations. The best.

Smith, R. M. Emigration and Immigration. N. Y., Scribner, 1890. 316 pages, price $1.40.

The best work on an important subject. Contains extensive bibliography.

Howell, George. The Conflicts of Capital and Labour. London and N. Y., Macmillan. 2d edition, revised, 1890, 536 pages, price $2.50.

The best description of trade-unions. Written by a trade-unionist and labor representative in Parliament. The author is not in sympathy with the “new trades unions” and the socialistic movements.

McNeill, Geo. E., ed. The Labor Movement, the Problem of To-day. Boston, A. M. Bridgman & Co., 1886. 650 pages, price $3.75

A co-operative work. Professor E. J. James contributes three chapters on the history of labor and labor legislation in Europe. The editor gives the history of labor in the United States. Leading representatives of labor organizations describe the growth of their own organizations. There are also chapters on arbitration, co -operation, industrial education, the land question and “army of the unemployed.” An important work.

Lloyd, H. D. Strike of Millionaires against Miners, the story of Spring Valley. N. Y., Belford, Clarke & Co., 1890. 264 pages, price $ 1; paper, 50 cents.

A good instance of evasion of responsibility on the part of stockholders for corporate management.

Burnett, John and others. The Claims of Labour. Edinburgh, Co-operative Printing Co., 1886. 275 pages, price 1s.

Contains an able chapter on “Irregularity of Employment and Fluctuations of Prices,” by H. S. Foxwell, professor of economics, University College, London.

Clark, J. B. The Philosophy of Wealth. Boston, Ginn & Co., 1889. 239 pages, price $1.10.

A thoughtful work. Treats of the functions of the church.

Gunton, G. Wealth and Progress. N. Y., Appleton, 1887. 382 pages, price $1; paper, 50 cents.

A discussion of the law of wages and an argument for eight -hour legislation.

Journal of the Knights of Labor. 841 North Broad street, Philadelphia. Price $1 per year.

The best of the labor press. Indispensable for the student of current labor problems.

Reports of Labor Bureaus, especially Massachusetts and the United States Department of Labor. Valuable reprints from Massachusetts reports can be obtained on payment of postage. Reports of the United States Department of Labor are free. Write to the Commissioner of Labor, Washington, D. C., and to the Chiefs of the Bureaus of Labor Statistics of the States, at the State Capitals.

Reports of Factory Inspectors of Ohio, New York, New Jersey and Massachusetts. Can be obtained on payment of postage by writing to the Factory Inspectors at the Capitals of the States.

 

PAUPERISM. CHARITIES.

Dugdale, R. L. The Jukes; a story in Crime, Pauperism and Heredity. N. Y., G. P. Putnam, 1888, 4th edition. 121 pages price $1.

A wonderful book. Well worth careful study. Shows by personal investigations of a single pauper tribe, traced back a hundred and fifty years, the relations of heredity and crime.

McCulloch, Rev. Oscar C. The Tribe of Ishmael; a story of Social Degradation. With diagram. Indianapolis, Ind., Charity Organization Society. 8 pages, price 50 cents.

A striking summary of investigations into two hundred and fifty related pauper families, extending through five generations. Based on personal investigations and the records of the Charity Organization Society, of Indianapolis.

Loch, C. S. Charity Organization. London, Swan Sonnenschein & Co., 1890. 106 pages, price 2s. 6d.

The best description of the principles and methods of organized charity.

Lowell, Josephine Shaw. Public Relief and Private Charity. N. Y., G. P. Putnam, 1884. 111 pages; price, paper, 40 cents.

An excellent little manual.

Fields, Mrs. James T. How to Help the Poor. Boston, Houghton, Mifflin & Co., 1883. Price 60 cents; paper, 20 cents net.

Describes the work of the Boston Associated Charities. Practical and Helpful.

Peek, F. Social Wreckage; Laws of England as they Affect the Poor. London, Isbister, 1889. Price 3s. 6d.

A short work, but valuable.

Hill, Florence Davenport. Children of the State. Edited by Fanny Fowke. N. Y., Macmillan & Co., 1889. 2d edition. Price $1.75.

Treats of the important subject of the care of dependent and delinquent children. Gives experience in different countries. Opposes “institutions.”

Reports of the National Conference of Charities and Corrections, Mrs. I. C. Barrows, ed., 141 Franklin street, Boston, Mass. Published annually, 1876 to date. The earlier numbers are out of print. Price $1.50; paper, $1.25 each.

“Its sixteen volumes constitute a library upon these subjects of more practical value than all others combined.’—Gen. Brinkerhoff.

Reports of the Boards of State Charities, especially of Ohio, Illinois and New York, which should be secured from the beginning, and Indiana, Michigan, Minnesota, Massachusetts, and Pennsylvania. These reports can be obtained by asking for them of the secretaries of the boards, at the State Capitals.

Charities Review, A Journal of Practical Sociology. Published for the Charity Organization Society, of the City of New York. The Critic Co. First number, November, 1891. Price $1 per year.

Contains contributions from the ablest specialists in sociological work and study.

 

CRIME AND PRISONS.

Baker, T. B. L. War with Crime. London and New York, Longman’s, 1890. 300 pages, price $4.

This book is a posthumous edition made up of papers and pamphlets published during the lifetime of the writer, and does not present a digested system, but it is a mine of gold. No other man in England in this generation is the peer of Baker. — Gen. Brinkerhoff.

Winter, Alexander. The New York State Reformatory at Elmira. London, Swan Sonnenschein & Co., 1891. 172 pages, price $1.

This reformatory has done more than any other institution in the world for the solution of the problem of the proper treatment of criminals. Eighty-three per cent. of its commitments are cured. This book well describes the institution and its methods.

Ellis, Havelock. The Criminal. New York, Scribner & Welford, 1890. 337 pages, price $1.

An able summary of recent investigations in criminal anthropology. The best in English.

Morrison, W. D. Crime and Its Causes. London, Swan Sonnenschein & Co., 1890. Price 2s. 6d.

A work of special value. The author antagonizes some of the current opinions. He has had an experience of fourteen years in connection with H. M. Prison at Wandsworth, England.

Wines, E. C. The State of Prisons and Child-Saving Institutions. Cambridge, Mass., J. Wilson & Son., 1880. 919 pages, price $5.

The most comprehensive and exhaustive work extant. Indispensable for a wide knowledge of the subject.

Du Cane, Sir Edmund F. The Punishment and Prevention of Crime. English Citizen Series. London and New York, Macmillan, 1885. 255 pages, price $1.

The writer for years past has had the charge of the entire prison system of England.

Tallack, W. Penological and Preventive Principles. London, Howard Association, Wertheimer, Lea & Co., 1889. 414 pages, price 8s.

A standard work on prison management, yet lagging behind in some lines of progress and to be accepted with allowance.

Rylands, L. G. Crime, Its Causes and Remedy. London, T. Fisher Unwin, 1889. 264 pages, price 6s.

An interesting work. There is a chapter on the prevention of drunkenness. The writer lays special emphasis on the care of children.

Brace, Charles Loring. The Dangerous Classes of New York and Twenty Years Work Among Them. Third edition. New York, Wynkoop & Hallenbeck, 1880. 468 pages, price $1.25.

Mr. Brace was founder of the New York Childrens’ Aid Society. This book, though written in 1872, is still valuable in many points. It deals especially with juvenile delinquents.

Round, W. M. F. Our Criminals and Christianity. New York, Funk & Wagnalls, 1888. 16 pages; price, paper, 15 cents.

Encyclopedia Britannica. Ninth edition. Also American Supplement.

The articles on “Prison Discipline” and “Reformatories” give the best birds-eye view of the whole subject.

Reports of the National Prison Association. W. M. F. Round, secretary, 35 E. 15th street, New York. Published annually, 1885 to date. Price $1.25 each. [Index to the Reports of the national Prison Association, 1870, 1873, 1874, 1883-1904. Washington, D. C.: Government Printing Office, 1906.]

Lalor’s Cyclopedia of Political Science.

Contains a valuable article on “Prisons and Prison Discipline,” by F. H. Wines.

 

INTEMPERANCE.

This subject has received indifferent scientific treatment. The best attempts are here given.

Mitchell, Kate, M. D. The Drink Question. London, Swan Sonnenschein & Co., 1891. Price 25. 6d.

A useful discussion.

Richardson, B, W., M. D. Ten Lectures on Alcohol. N. Y., National Temperance Society, 1883. 190 pages, price $1; paper, 50 cents.

Describes the physiological effects of alcohol.

Kerr, Norman, M. D. Inebriety; Its Etiology, Pathology, Treatment and Jurisprudence. London, H. K. Lewis, 1888. 415 pages, price 12s. 6d.

Clum, Franklin D., M. D. Inebriety; Its causes, Its Results, Its Remedy. Philadelphia, Lippincott Company, 1888. 248 pages, price $1.25.

A careful discussion of the causes of intemperance, and interesting suggestions for its cure.

 

REMEDIES.

Price, L. L. F. R. Industrial Peace; its advantages, methods and difficulties. N. Y., Macmillan, 1887. 127 pages, price $1.50.

Describes the practical workings of arbitration.

Weeks, Joseph D. Labor Differences and their Settlement. N. Y., Society for Political Education. Price 25 cents.

Favors arbitration.

Gilman, N. P. Profit Sharing Between Employer and Employee. Boston, Houghton, Mifflin & Co., 1889. 460 pages, price $1.75.

The standard work on this subject.

History of Co-operation in the United States. Baltimore, Johns Hopkins University Studies in Historical and Political Science, vol. 6, 1888. 540 pages, price $3.

A comprehensive work. The best covering the entire field in the United States.

Dexter, Seymour. Co-operative and Loan Associations. N. Y., D. Appleton & Co., 1889. 299 pages price $1.25.

The best treatise on Building and Loan Associations. Explains their advantages and workings, tells how to organize them, and gives the laws of several states.

Schaeffle, A. Quintessence of Socialism. Translated from the German, London, Sonnenschein & Co. 1891. 127 pages, price 25. 6d. N. Y., The Humboldt Publishing Co., paper, 15 cents.

“The clearest account of Socialism that can be obtained in anything like the same compass.” — The translator.

Kirkup, T. Inquiry into Socialism. London and New York, Longmans, 1887. 188 pages, price $1.50.

The best presentation of a reasonable and moderate kind of Socialism.

Bellamy, Edward. Looking Backward, 2000. 1887. Boston, Houghton, Mifflin & Co. Price $1; paper, 50 cents.

Has had greater influence in propagating socialistic views among English-speaking people than any other book.

Hyndman, H. M. Historical Basis of Socialism in England. London, Kegan Paul, 1883. 492 pages, price 8s. 6d.

A summary of the works of Karl Marx and Rodbertus. The best introduction to the theories of Socialism.

Gronlund, Laurence. The Co-operative Commonwealth; an Exposition of Modern Socialism. Boston, Lee & Shepard, 1884. Price $1. Also N. Y., G. W. Lovell & Co., paper, 30 cents; London, Swan Sonnenschein & Co., 2s. 6d.

An explanation of Socialism as applied to the United States.

Laveleye, Emil de. The Socialism of To-day. Translated by G. H. Orpen. London, Field & Tuer, 1885. 331 pages, price 6s.

A valuable history of European Socialism, and a lucid statement of Socialistic doctrines.

Marx, Karl. Capital. Translated from the third German edition by Samuel Moore and Edward Aveling. N. Y., Appleton & Co., 1889. Price $3.

The “Bible of Socialism.” Very difficult reading, except in the historical parts. Marx’s arguments are summarized by other writers, especially Hyndman.

Barnett, Rev. and Mrs. Samuel A. Practicable Socialism; essays on social reform. London and New York, Longmans, Green & Co., 1888. 212 pages, price $1.

Reprints of magazine articles which appeared during the years 1879 to 1887. The authors are devoted workers in Whitechapel, London. The book gives a vivid picture of their life and work among the poor.

George, H. Progress and Poverty, an inquiry into the causes of industrial depressions, and of the increase of want with the increase of wealth. N. Y., Henry George & Co., 1888. 250 [sic] pages, price $1; paper, 35 cents.

A remarkable extension of the older economic theory, and a proposition to impose a “single tax” on land -values in order to appropriate for the public the “unearned increment.”

Ely, Professor R. T. Taxation in American States and Cities. N. Y., T. Y. Crowell & Co., 1888. 544 pages, price $1.75

Contains descriptions of the present systems and suggestions for better equalization of taxes.

Ely, R. T. Problems of To-day. N. Y., T. Y. Crowell & Co., 2d edition, 1890. Price $1.50.

Reprint of newspaper and magazine articles on protection and natural monopolies. Contains suggestions for reform.

U. S. Department of State. Consular Report No. 117, June, 1890, contains a valuable description, with illustration, of the municipal artisan’s dwellings of Liverpool. The report of October, 1888, No. 98, contains “Homes of the German Working People.” Washington, D. C., Department of State. Free on application.

Woodward, C. M. The Manual Training School. Boston, D. C. Heath & Co., 1887. Price $2.

The best. Contains exposition of the methods and scope of manual training, and discusses its educational, social and economic bearings.

Abel, Mary Hinman. Practical Sanitary and Economic Cooking, adapted to persons of moderate and small means. Rochester, N. Y., American Public Health Association. 182 pages, price 40 cents; paper, 35 cents.

Contains analyses of foods showing nutritive value, and suggestions for varying the diet at small expense.

Booth, General W. In Darkest England and the Way Out. N. Y., Funk & Wagnalls, 1890. 300 pages, price $1; paper 50 cents.

A notable scheme for rescuing the “submerged tenth” of England by means of city refuges, farm colonies, colonies over the sea, and other agencies, to be administered by the Salvation Army.

Loomis, S. L. Modern Cities and their Religious Problems. Introduction by J. Strong. New York, Baker & Taylor, 1887. 219 pages, price $1.

The results of personal study and experience. A useful book.

Gladden, Rev. W. Applied Christianity; moral aspects of social questions. Boston, Houghton, Mifflin & Co, 1886. 320 pages, price $1.25.

Sensible chapters on the relations of Christianity to the problems of the distribution of wealth.

Gladden, Rev. W., ed. Parish Problems. N. Y., The Century Co., 1887. 479 pages, price $2.

An useful hand-book for Christian workers. Valuable chapters by eminent writers on the relations of pastor and people to the community.

Reports of the Convention of Christian Workers of the United States and Canada. Rev. John C. Collins, secretary, New Haven, Conn., price $1. Published annually since 1886.

Valuable reports and discussions on methods of Christian work.

Reports of the Evangelical Alliance, especially the report of the meeting at Washington in 1887, published under the title “National Perils and Opportunities.” Price $ 1.50, paper $1. Parts of this report have been printed in two separate volumes by The Baker & Taylor Co., N. Y., the first entitled “Problems of American Civilization,” the second, “Co-operation in Christian Work.” Price 60 cents each, paper 30 cents. The Report for the meeting at Boston in 1890, entitled “National Needs and Remedies.” Same publishers and prices.

Leaflets of the Christian Social Union in the United States. Professor Richard T. Ely, secretary, Baltimore, Md. Free on application.

 

Source: Oberlin College Library Bulletin. January, 1892. Volume I, No. 1. Oberlin, Ohio: The Oberlin News Presses, 1892.

Image Source: John R. Commons in the Oberlin College yearbook Hi-oh-hi, 1892 (page 43).

Categories
Cornell Economist Market Economists Michigan

Michigan. Henry Carter Adams’ Plea on Own Behalf, 1887

 

The dirtiest my hands have ever become from archival work was during my exploration of Columbia University’s collection of John Maurice Clark’s papers. Now having the luxury of digital images to scroll through, I can work without forsaking the pleasures of biting my finger nails, rubbing my eyes and scratching my nose. The younger Clark was quite a paper hoarder so it pays to return to my folders with the images of  his documents.

This post builds on notes Clark took after a talk given by his colleague Joseph Dorfman on the economist Henry Carter Adams. Clark was struck by a phrase used by Adams, “all power carries responsibility,” that was a recurring theme in Clark’s own “preaching”. Attached to his brief note was a typed copy of a transcribed letter that Henry Carter Adams had written to the President of the University of Michigan to plead the case that he wished to be judged for a professorial appointment for the right reasons, i.e. not for any particular policy positions he might be thought not to hold but for exhibiting high scholarly virtues in his research and teaching.

Adams had earlier managed to attract the ire of a Cornell trustee, businessman Henry Williams Sage, much in the way Paul Samuelson was to attract the ire of the former member of the M.I.T. corporation, Lamott Dupont II, some 60 years later. Clearly not wanting his Cornell history to repeat itself, Henry Carter Adams successfully went pro-active with the University of Michigan in lobbying on his own behalf. He did get the appointment.

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Socialist Tease?

Henry C. Adams along with Richard T. Ely was attacked for “Coquetting with Anarchy” in The Nation (September 9, 1886), pp. 209-210. In that article Adams was incorrectly identified as President [C. K.] Adams of Cornell. The correction was immediately forthcoming in the following issue, September 16, 1886 issue, p. 234. The essay by Henry Carter Adams being attacked was “Principles that Should Control the Interference of the States in Industries” that was read before the “Constitution Club”of New York City.

_________________________

Several biographical accounts of Adams

Joseph Dorfman. The Economic Mind in American Civilization, vol. 3. Pp. 164-174.

S. Lawrence Bigelow, I. Leo Sharfman, and R. M. Wenley, “Henry Carter Adams,” The Journal of Political Economy, April 1922, pp. 201-11 (includes a selected bibliography);

“Memorial to Former President Henry C. Adams,” The American Economic Review, September 1922, pp. 401-16.

Mark Perlman’s review of the 1954 publication of Henry Carter Adams’ Relation of the State to Industrial Action (1887) and his American Economic Association Presidential Address (1896) edited by Joseph Dorfman with introductory essay. [Note: this re-publication of two of Adams’ essays includes the letter transcribed from Dorfman’s copy in J. M. Clark’s papers.]

A. W. Coats. Henry Carter Adams: A Case Study in the Emergence of the Social Sciences in the United States, 1850-1900. Journal of American Studies, Vol. 2, No. 2 (October 1968), pp. 177-197.

Nancy Cohen. The Reconstruction of American Liberalism, 1865-1914. University of North Carolina Press, 2002. (Especially Chapter 5 “The American Scholar Revisited”, pp. 154-158, 162-164, 169-174)

_________________________

Henry C. Adams, some early publications

The Position of Socialism in the Historical Development of Political Economy. Penn Monthly, April 1870, pp. 285-94.

Outline of Lectures upon Political Economy (Baltimore: privately printed, 1881); (second edition, Ann Arbor: privately printed, 1886).

“The Labor Problem,” Sibley College Lectures.—XI. Scientific American Supplement, August 21, 1886.

Adams’ statement in The Labor Problem, edited by William E. Barns (New York: Harper, 1886), pp. 62-63.

“Principles that Should Control the Interference of the States in Industries” read before the “Constitution Club” of the City of New York. [Fun Fact: Frank Taussig’s copy]

Relation of the State to Industrial Action. Publications of the American Economic Association, 1887. Pp. 471-549.

Public Debts: An Essay in the Science of Finance (New York: D. Appleton and Company, 1887).

_________________________

Note by John Maurice Clark attached to transcribed copy of Henry Carter Adams’ letter

Letter of Henry Carter Adams (1851-1921)
to President James B. Angell, March 15, 1887.

J.M.C. Nov. 27, 1951, Comment, from memory of Dorfman’s remarks yesterday.

President Angell appointed Adams professor after receipt of this letter, and Thomas Cooley (father of Charles Horton Cooley?) who was on the original Interstate Commerce Commission, got Adams the job of chief statistician of the Commission, where he created the system of control of accounts of railroads aiming at enough uniformity to make financial and operating reports comparable, so totals for the country and comparisons of companies would mean something.

Adams had already commented on Jevon’s “The State in Relation to Labor[”] and Adams’ original paper on this theme was later (later than Mar 15, 1887) worked over and enlarged, and came to be regarded as a classic by economists between Adams’ generation and mine.

_______________

[Clark’s note] This is the letter of a man 36 years old who had earned his academic freedom by a sober and responsible attitude. From my standpoint, it is especially interesting because Adams gives such central importance to the principle that all power carries responsibility (presumably inner responsibility plus subjection to checks and controls where appropriate). This is the principle I’ve been preaching (or announcing factually) as the only alternative to regimentation or chaos.

*  *  *  *  *  *  *  *  *  *  *  *  *  *

COPY

Ithaca, N.Y. March 15, 1887.

Dear Dr. Angell:

I don’t think there is any danger of my misunderstanding your letter or the spirit in which it was written. Last year, your questions came to me with the shock of a complete surprise, but I am coming to be pretty well accustomed to such expressions now.

You ask if I can help you any more so you can see your way clear on my nomination. I don’t see as I can, except it be to suggest that, in my opinion, your point of view in this matter is not the right one. If you make a man’s opinions the basis of his election to a professorship, you do, whether you intend it or not, place bonds upon the free movement of his intellect. It seems to me that a board has two things to hold in view. First, is a man a scholar? Can he teach in a scholarly manner? Is he fair to all parties in the controverted questions which come before him? Second, is he intellectually honest? If these two questions are answered in the affirmative, his influence upon young men cannot be detrimental.

Upon these points, certainly, nothing new can be said. I have served for five years as an apprentice and you have had opportunity to know. Or, with regard to the fairness in which topics are presented in the classroom, you have the outline of (the) lectures. My conscious purpose in teaching is two-fold. To portray social problems to men as they will find them to be when they leave the University and to lead men to recognize that morality is an every day affair.

But all this, you will say, is by the point. You say you do not know what my views are on capital and labor. I am not surprised at that for I have intentionally withheld them. No one knows them and I had madeup my mind to keep them to myself until I had worked through my study of the industrial society. My reason for such a decision was, that, in my study of social questions I had found myself on all sides of the question, I started as an individualist of the most pronounced type. But my advocacy of it led me to perceive its errors, and my criticisms were formulated before I read any literature of socialism. But when, upon coming into contact with socialistic writers I found their criticisms were the same as my own I was for a while carried away by their scheme. But upon further study, I found their plans to be, not only as I though impracticable, but contrary to the fundamental principles of English political philosophy, in which I still believed. You can imagine that was not a pleasant condition for one appreciative of logical symmetry. You said a year ago that my views were not logical, that is, that some of my expressions were contradictory to each other. I don’t doubt that they appeared so, it seems bad logic to admit the purpose of individualism and the criticism of socialists at the same time. You say now in your letter that I have not worked out my ideas into clear and definite shape. That is true, but I am doing it as fast as I can and in my own way. My book upon Pub. Debts is one stage in this direction.

But to go back to the development of this subject in my own mind. The illogical position into which my mind had drifted as the result of the first five years of study, was the occasion of keen intellectual pain: but the sense of the necessity of harmony led me finally to discover a principle, which I thought, and still think, adequate to bridge over the chasm between the purpose of individualism and the criticisms of socialism. This principle is the principle of personal responsibility in the administration of all social power, no matter in what shape that power may exist. This principle has given form to our political society: I wish it to be brought over into industrial relations. Its realization will cure the ills of which socialists complain, without curbing or crushing that which is the highest in the individual. I thought, at first, this principle to be so simple that its statement must gain for it quick recognition. But when I tried to make that statement, and work the theory out, I was at once surprised and chagrined to see what a task lay before me. It is useless to deny that the interests of the privileged classes in our civilization is against responsible administration of industrial power. I worked at it for a year, and then came to the conclusion that I did not yet know enough, nor was I sure enough of my position, to make public the thought which had assumed direction of my studies. It was then that I took up the study of finance and went to work upon Pub. Debts. This is the most simple of any of the topics which must be treated as the subject of constructive economics opened before me: it was also furthest removed from the points likely to cause controversy. I thought I might, perhaps, gain the reputation of a sound thinker so that expressions of views more unusual might attract a candid reading from scholarly men. It has taken a year and a half longer than I had anticipated, and now that it is done seems to have dwarfed in importance.

I do not think this narration will relieve you from embarrassment. I do not see that anything can do that, except a promise on my part to give expression only to orthodox views of social relations. But it has relieved me somewhat and I trust you will consider that an adequate apology. I have of course full confidence in your personal friendship: I only wish you might have equal confidence in my scholarly purposes.

Very truly yours,
H.C. ADAMS.

P.S.

May I add a postscript, for I am sure it is an unjustifiable pride which kept me from inserting it in the body of the letter. I presume the expression(s) of my views which have given you the greatest solicitude are to be found in the Sibley address of last year, and in the syndicate article which I wrote on the Knights of Labor. I do not wish to recall anything said, but I am willing to say that these expressions were as unwise as they were unpremeditated. In justice to myself I should say: that the Sibley address was on Friday afternoon and my invitation was on the Wednesday previous. Professor [R. H.] Thurston said he had been disappointed in his lecturer for the afternoon, that he did not like to postpone the meeting, and that he would like me to open a discussion on the labor problem. He told me, who besides myself would speak, and they were all decidedly opposed to any expression of sympathy with the struggle of the Knights then going on. After my opening address, the man against whom I talked, who, it was said, would reply to me, took his hat and left. Others spoke, among them President [Charles Kendal] Adams, Mr. Smith [sic, perhaps Mr. Frank B. Sanborn?] and Henry [W.] Sage. The President was not dogmatical but did not understand what I tried to say. The others were. My part in the discussion has cost me a professorship, for I do not see how, with the views of Mr. Sage to the functions of a teacher, he can vote for me. It was after the address was made that the talk began, and I thought it then cowardly not to let it be printed, and dishonest to change it. So it went in, as nearly as I could remember as it was given. I think it unfair to judge of my classroom work on this address.

With regard to the syndicate article [“What Do These Strikes Mean?”, a copy attached to Adams’ letter to James B. Angell dated March 25, 1887], I confess myself to have been deceived by the attitude of the Knights of Labor during their strike on the Gould system or I should not have written it. In their articles of complaint, they said certain things which I believed to be true, and I thought the men who drew them up had thought the labor problem through to its end, and had made a stand on a principle in harmony with English Liberties. If so, it was time for men of standing to declare themselves. But it turns out that the Knights hit the mark by a chance shot. They did not know what they were about and got whipped as they deserved. The result of this unfortunate venture is, that I believe more strongly than ever in the necessity of scholarship as one element in the solution of this terrible question that is upon us.

Have you seen “The Ind. Revolution” by Arnold Toynbee? His death is a loss. The scraps of his lectures and letters show him to have had much the same purpose as myself in his studies.

Respectfully
H.C.A.

Source: Columbia University Archives. John M. Clark Collection, Economic Theory and Methodology, Box 28. Folder “Group Power carries moral responsibility”.

Image Source: Johns Hopkins University Sheridan Libraries, graphic and pictorial collection. Henry Carter Adams (Ph.D., Johns Hopkins, 1878). Photograph by Sam B. Revenaugh (1847-1893), Ann Arbor, Mich.

Categories
Economists Wisconsin

Wisconsin. Debate on role of federal government in the economy. Keyserling vs. Friedman, 1963

Rummaging through the digitized archival offerings of the University of Wisconsin library, I came across the poster above announcing a debate betwen Leon Keyserling and Milton Friedman. The poster gives a date and time for the debate but no year was included for the obvious reason that advertising years in advance on posters seldom makes sense. The webpage where the image of the poster is displayed is hardly helpful in dating the debate:

Economic debate poster

  • ca. 1961-ca. 1973
  • A poster announcing a debate on government action on the economy to be held at the Union Theater. The poster once hung in Van Hise Hall and was found during construction.

From the following two articles in the Wisconsin State Journal we find that the debate took place in 1963. It is also somewhat interesting to note that the debate took place just eight days before the assassination of John F. Kennedy in Dallas, Texas. 

________________________

U.S. Government Role in Economy Will Be Debated

Economists Leon Keyserling and Milton Friedman will debate the proposition that the federal government should play an active roll in the economy, at 8:15 tonight in the Wisconsin Union theater.

Keyserling, chairman of the Council of Economic Advisers to the President from 1950 until the end of the Truman Administration, will present the affirmative aide of the argument.

He is presently the head of the Conference on Economic Progress and a consulting economist and attorney in Washington. He has served as deputy administrator of the U.S. Housing Authority, and as consultant to various committees and members of the Senate and the House.

Keyserling has been connected with the studies and drafting of such economic legislation as the National Industrial Recovery act, the National Housing act, the National Labor Relations act, the Employment act, and the General Housing act.

Debating the negative side of the proposition will be Friedman, professor of economics at the University of Chicago and a member of the research staff of the National Board [sic] of Economic Research.

A visiting professor at the University of Wisconsin in 1940-41, Friedman has also served as an associate economist with the National Resources committee and as the principal economist for the division of tax resources of the U.S. Treasury Department.

The debate is sponsored by the Wisconsin Union Forum committee and the Pan-Hellenic and Interfraternity Associations. No tickets are needed.

Source: Wisconsin State Journal. Madison. Thursday, November 14, 1963, p. 4.

________________________

1,000 Hear Top Economists Debate Role of Government
By William Hauda (State Journal Staff Writer)

Economists Leon Keyserling and Milton Friedman Thursday night didn’t reach any agreement on what role the federal government should play in the national economy.

Keyserling, a liberal and a leading consulting economist and attorney in Washington, D. C, contended that the federal government should play an active role in the economy.

Debate Before 1,000

Friedman, a conservative and professor of economics at the University of Chicago, argued the negative in a debate before more than 1,000 persons in the Wisconsin Union theater.

Keyserling maintained that today’s world problems of competing economic systems and large armaments “can only be solved through the system we call government”

“These things will continue to require sensitive, progressive, alert, and — yes — expanding public responsibility,” he said.

Friedman said, “Of course we all know the federal government has for a long time played a role in the economy. I am sure that; Mr. Keyserling, like all of us, would like to see a world where less is spent on armaments.”

He went on to argue that, in most every case, federal control has not accomplished its objectives.

He said it was “not a simple issue of responsible government” and that he wanted to see a system in which a producer can’t get government protection and can only prosper by serving the consumer.

Cites Travels

Friedman said neither the Interstate Commerce Commission (ICC) nor the Federal Communications Commission (FCC) has accomplished their objectives and described anti-trust legislation as a “mixed bag” of good and bad.

Of his recent travels around the world, he said, “What struck me was wherever there was extensive central planning, there was poverty.” As examples, he cited Russia, India and Indonesia.

“I am not saying free enterprise will produce prosperity,” he added. “By itself, it is not a sufficient condition.”

In his rebuttal, Keyserling said Friedman’s arguments were like saying if there is corruption in the New York police department, we should just get rid of the police.

“Next, my friend trys to tell you that the farm program has accomplished nothing. Goodness knows, there are thorns in the farm program. But what person can stand up in the state of Wisconsin and tell you the farmer is not better off than 40 years ago.”

“My friend wants to do away with the public operation of secondary schools,” said Keyserling. I don’t. I think we need more schools.”

“I’m the first one to the government has not perfected the degree of control of business cycles that I would like to see it obtain,” said Keyserling. But he added, “all this progress has been made within our life time and I’d like to see it continue.”

Friedman said, “The best thing the government can do is provide a stable (economic) background.” He said the government should not disrupt the economy and should allow free enterprise to run the economy.

Source: Wisconsin State Journal. Madison. Saturday, November 16, 1963, p. 7.

Image Source: University of Wisconsin digital library.

Categories
Chicago Economics Programs Economist Market Economists

Chicago. Memos discussing guests to teach during summer quarter, 1927

 

 

Apparently the 1926 summer quarter course planning at the Chicago department of political economy in 1926 was so wild that the head of the department, Leon C. Marshall, decided to start the discussion for 1927 on the second day of Summer, 1926. Four of the seven colleagues responded with quite a few suggestions.

This post provides the first+middle names where needed in square brackets. Also links to webpages with further information about the suggested guests have been added.

______________________

Copy of memo from
Leon Carroll Marshall

THE UNIVERSITY OF CHICAGO
Department of Economics

Memorandum from L. C. Marshall. June 22, 1926

To: C. W. Wright, J. A. Field, H. A. Millis, J. Viner, L. W. Mints, P. H. Douglas, W. H. Spencer

We really must break through the morass we are in with respect to our summer quarter. Partly because of delayed action and partly because of an interminable debating society in such matters we finally get a patched up program which is not as attractive as it should be.

I shall proceed on the basis of the homely philosophy that the way to do something is to do something. I shall try to secure from every member of the group a statement of his best judgment concerning the appropriate course of action for the summer of 1927 and then move at once toward rounding out a program.

Won’t you be good enough to turn in to E57 within the next few days your suggestions and comments with respect to the following issues.

  1. Do you yourself expect to be in residence the summer quarter of 1927?
  2. If you do, what courses do you prefer to teach? Please list more than two courses placing all of the courses in your order of preference. In answering this question, please keep in mind the problem of guiding research. Should you offer a research course?
  3. What are your preferences with respect to hours? Please state them rather fully and give some alternatives so that a schedule may be pieced together.
  4. What courses or subject matter should we be certain to include in the summer of 1927?
  5. What men from outside do you recommend for these courses which we should be certain to include? Please rank them in the order of your preference.
  6. Quite aside from the subject matter which you have recommended above, what persons from the outside ought we try to make contact with if our funds permit? This gives an opportunity to aid in making up the personnel of the summer quarter in all fields.
  7. Please give any other comments or suggestions which occur to you.

Yours very sincerely,

LCM:G

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Jacob Viner

The University of Chicago
Department of Political Economy

July 1, 1926

Dear Mr. Marshall

I will want to offer 301 (Neo-class Ec.) & 353 (Int Ec. Pol) as usual next summer, though if we have a good outside theorist to give 301, I would like to give a course on Theory of Int Trade in addition to 353. I think we need someone especially in Banking, next in theory. Beyond these we should offer work in some of the following, if we can get first rankers: statistics, private finance, transportation, economic history of Europe & ec. Hist. of U.S.

I suggest the following from which selections could be made:

Banking

 Theory Statistics Transportation

Ec. Hist.
[Eugene E.]
Agger

 

[Benjamin Haggott] Beckhart

 

[Allyn Abbott]
A.A. Young

 

[Chester Arthur]
C. A. Phillips

 

[Oliver Mitchell Wentworth]
Sprague

 

[James Harvey] Rogers

 

[Ernest Minor] E.M. Patterson

 [Allyn Abbott]
Young

 

[Jacob Harry]
Hollander[Frank Hyneman] Knight

 

[Albert Benedict] Wolfe

 

[Herbert Joseph] Davenport

 [Henry Roscoe] Trumbower

 

[Homer Bews] Vanderblue

 [Melvin Moses] M.M. Knight

 

[Abbott Payson] A.P. Usher

As other possibilities I suggest [George Ernest] Barnett, [James Cummings] Bonbright, [Edward Dana] Durand, [Edwin Griswold] Nourse, [Sumner Huber] Slichter, John D. [Donald] Black, Holbrook Working, [Alvin Harvey] Hansen.

[signed]
J Viner

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Paul Howard Douglas

The University of Chicago
The School of Commerce and Administration

June 29, 1926

Professor L. C. Marshall
Faculty Exchange

Dear Mr. Marshall:

You have hit the nail on the head in your proposal to get under way for next summer, and I am very much pleased at your action. Answering your questions specifically may I say—

  1. That I do not expect to be in residence for the summer quarter of 1927.
  2. &3. Since I shall not be in residence no answers to these questions are, I take it, necessary.

 

  1. We should, I think, be certain to include adequate work in the following fields (a) Economic theory, (b) Monetary and banking theory, (c) Labor problems, (d) Statistics and quantitative economics, (e) Taxation and Public finance, (f) Economic history.
  2. As regards men from outside, I would recommend the following in each field: (a) Economic theory—[Herbert Joseph] H. J. Davenport, [John Rogers] J. R. Commons, [Frank Hyneman] F. H. Knight; (b) Monetary and banking theory—[Allyn Abbott] A. A. Young, [Oliver Mitchell Wentworth] O.M.W. Sprague, [James Waterhouse] James W. Angell; (c) Labor problems—Selig Perlman, Alvin [Harvey] H. Hansen; (d) Statistics and quantitative economics—[Frederick Cecil] F. C. Mills, [Robert Emmet] R. E. Chaddock, [William Leonard] W. L. Crum; (e) Taxation and public finance—[Harley Leist] H. L. Lutz, [William John] William J. Shultz; (f) Economic history—[Norbert Scott Brien] N. S. B. Gras.
  3. As people from outside to try for, might it not be possible to secure some one from England, such as [John Atkinson] John A. Hobson, Henry Clay, or [Dennis Holme] D. H. Robertson? Might it not also be possible to get Charles Rist from France or [Werner] Sombart from Germany?

Faithfully yours,
[signed]
Paul H. Douglas

P.S. The news that [Henry] Schultz and [Melchior] Palyi are to be with us next year is certainly welcome. Should we not let everyone know that they are coming, and should not a news note to this effect be sent on to the American Economic Review? [Handwritten note here: “Mr. Wright doing this”]

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Lloyd Wynn Mints

The University of Chicago
The School of Commerce and Administration

July 16, 1926

Memorandum to L. C. Marshall from L. W. Mints, concerning the work of the summer quarter, 1927.

  1. It is my present intention not to be in residence during the summer quarter, 1927, although I will be in the city, I suppose.
  2. It appears to me that we should attempt to get men from the outside who would represent some of the newer points of view rather than the orthodox fields. I should suppose that it would be desirable to have a man in statistics and, if he could be found, somebody to do something with quantitative economics. For the statistics I would suggest [William Leonard] Crum, [Frederick Cecil] Mills, [Frederick Robertson] Macaulay, [Willford Isbell] King, [Bruce D.] Mudgett, [Robert] Riegel. I am ignorant of the particular bents of some of the statistical men, but I should suppose that in quantitative economics [Holbrook] Working, [Alvin Harvey] Hansen, or [William Leonard] Crum might do something. Perhaps [Edmund Ezra] Day should be added to the men in Statistics.
    In economic history, as I remember it, we have had no outside help for a long time. I should like to see either [Noman Scott Brien] Gras or Max [Sylvius] Handman give some work here in the summer.
    Particular men who represent somewhat new points of view, and who might be had for the summer, I would suggest as follows: [Lionel Danforth] Edie, [Oswald Fred] Boucke, [Morris Albert] Copeland, [Sumner Huber] Slichter.
    In addition I should like very much to see either [Edwin Robert Anderson] Seligman or [John Rogers] Commons here for a summer.

[signed]
L.W.M.

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Harry Alvin Millis

Answers to questions re Summer Teaching, 1927

  1. Yes, I feel that I must teach next summer unless that plan you have been interested in goes through.
  2. 342 [The State in Relation to Labor] and 440 [Research].
  3. 342 at 8; 440 hour to be arranged.
  4. 5. 6.: Should get a better rounded program than we have had. Should have an outstanding man in economic theory and another in Finance. For the former I would mention [John] Maurice Clark, [John Rogers] Commons, and [Frank Hyneman] Knight—in order named. For the latter I would mention [Allyn Abbott] Young, [James Harvey] Rogers. If we can get the money I should like to see [George Ernest] Barnett brought on for statistics and a trade union course.

 

  1. Would it be possible to have a seminar which would bring together the outside men and some of the inside men and our mature graduate students—these hand-picked? It might be made very stimulating.

[Signed]
H. A. Millis

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
Chester Whitney Wright

The University of Chicago
The Department of Political Economy

Memorandum to Marshall from Wright

Summer 1927
First term some aspects of economic history
1:30 or 2:30
May have to teach the whole summer but hope I can confine it to first term.
Can teach any phases of subjects in any fields suitable for term.

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
James Alfred Field

[No written answer in the folder: however L. C. Marshall noted that Field would not be teaching in the summer term of 1927]

*  *  *  *  *  *  *  *  *  *  *  *  *  *  *

Response from
William Homer Spencer

The University of Chicago
The School of Commerce and Administration
Office of the Dean

July 12, 1926

Mr. L. C. Marshall
The Department of Political Economy

My dear Mr. Marshall:

As Mr. [Garfield Vestal] Cox does not wish to teach during the Summer Quarter of 1927, I wish the Department of Political Economy would try to get Mr. [Edmund Ezra] Day of Wisconsin [sic, Michigan is correct] who could give both a course in statistics and a course in forecasting. Forecasting is not given this summer and unless we get someone from the outside to give it, I presume it will not be given next summer.

Why does not the Department of Political Economy for the coming summer get someone like Mr. [Leverett Samuel] Lyon to give an advanced course in economics of the market for graduate students? The Department of Political Economy could handle half of his time and I perhaps could handle the other half for market management

Now that it appears that the Department of Political Economy cannot get any promising young men in the Field of Finance, why do you not try for [Chester Arthur] Phillips of Iowa? He will give good courses and will draw a great many students from the middle west to the University.

So far as my own program is concerned, I have not made much progress. I tried to get [Roy Bernard] Kester of Columbia, but he turned me down. I am placing a similar proposition before [William Andrew] Paton of Michigan. In the Field of Marketing, I am trying for [Frederic Arthur] Russell of the University of Illinois to give a course in salesmanship primarily for teachers in secondary schools. Otherwise I have made no progress in getting outside men for next summer.

Yours sincerely,
[signed]
W. H. Spencer

WHS:DD

Source:  University of Chicago Archives. Department of Economics. Records. Box 22, Folder 7.

Categories
Agricultural Economics Chicago Iowa Minnesota Suggested Reading Syllabus

Minnesota. Course outline and reading for graduate macroeconomics. Brownlee, probably 1959

 

Based on a pamphlet in which he argued that “properly fortified margarine ‘compared favorably’ with butter in nutrition and palatability”, the economics Ph.D. student, Oswald Harvey Brownlee (1917-1985), brought the wrath of the Iowa Farm Bureau among others down upon himself and his economist seniors. After the President of Iowa State caved to the state’s dairy interests in the matter, Theodore  W. Schultz, D. Gale Johnson, and O. H. Brownlee were all to ultimately head off to the University of Chicago.

Oswald Harvey Brownlee. Putting dairying on a war footing, 64 page pamphlet published by Iowa State College Press, 1944.

See: Seim, David L. “The Butter-Margarine Controversy and “Two Cultures” at Iowa State
College.” The Annals of Iowa 67 (2008), 1-50.

Also mentioned in: Milton and Rose Friedman, Two Lucky People: Memoirs, p. 193.

Brownlee went on to teach at the University of Minnesota, where we found him teaching a graduate macroeconomics course. Clearly that was still time that the hatches separating microeconomics and macroeconomics were not so securely battened as today. “Public finance” was Brownlee’s major field so his broad fiscal policy interests make sense.

The course outline transcribed in this post comes from Martin Bronfenbrenner’s papers at the Economists’ Papers Archive at Duke University. Bronfenbrenner taught at the University of Minnesota from 1959-1962 and we can presume that the copy of Brownlee’s macroeconomics course outline with readings was for either 1958-59 or 1959-60.  A second, apparently later, version of the course outline for “Economics 176A” with “Brownlee” handwritten in the upper right corner is also found in the same folder. Three new readings from the second copy have been added and placed within square brackets below. The readings in Parts I and II, IX and X were not included in the second outline for “Economics 176A”.

_______________________

Handwritten note at top:
“Martin, Here is the outline for the Macro theory. Which part do you want to teach? [signed] Oz”

 

Economics 176A-B
Course Outline and Suggested Readings

This brief outline and reading list is intended to serve as a general summary of the materials to be considered during the course and as a guide to class discussion and to outside reading. The detail in the outline does not necessarily correspond to the detail in class discussion. The most significant readings are starred (*). The literature in this field has grown so rapidly during the past decade that this reading list cannot be considered as a complete bibliography of relevant writings.

It is hoped that during the quarter the student will gain an adequate understanding of how the equilibrium values of the relevant variables (gross national product, employment, the general level of prices and the rate of interest, for example) might be determined, and how changes in certain exogeneous variables (including various economic policy variables) might affect these equilibrium values. Although the primary emphasis of the course is on equilibrium levels of certain variables, an introduction to dynamic analysis (a description of the path of a variable over time) will be offered. This will provide the basis for subsequent discussion of business cycle theory and growth models.

  1. General Orientation of the Course
    1. Relationship of macro-static theories to other classes of economic theories
    2. Limitations of macro-static analysis as a basis for policy statements
  2. The firm’s Demand for Labor
    1. Importance for labor hired by business firms in the labor market as a whole
    2. Static theory of production with emphasis on the demand for labor.
      1. Nature of the firm’s production function
      2. Determinants of equilibrium level of employment within the firm
      3. Comparisons of equilibrium levels of employment under various resource market, product market and technological conditions
    3. Effects of Changes in Quantities of Other Resources Upon Demand for Labor

Readings:

1—K. E. Boulding, Economic Analysis, Chapter 31 (revised edition)

2—George Stigler, The Theory of Price, Chapters 6-11.

3—Paul A. Samuelson, Foundations of Economic Analysis, Chapter 3, pp. 21-33.

4—Joan Robinson, Economics of Imperfect Competition, Books VII and VIII.

  1. Equilibrium in the Labor Market for the Economy as a whole
    1. Aggregation of outputs, labor inputs, wage rates and prices
    2. Determination of various combinations of general level of prices and “real” output which will maintain equilibrium in the labor market—an “aggregate supply” function.
      1. With money wage rate autonomously determined: a wage “floor”, a wage “ceiling”, both a “floor” and a “ceiling”.
      2. With supply of labor dependent upon “real” wages.
      3. With supply of labor dependent upon “real” and money wages: the effects of asset holdings.
    3. Degree of Determinateness of relevant variables given only equilibrium in the labor market.
      1. Price level, real output and employment not uniquely determined
        1. Various combinations of price level and real output will maintain equilibrium in labor market, given the autonomously specified money wage or given fixed monetary debts and credits and flexible money wages.
        2. Employment is determined only upon the real wage, real output and employment are uniquely determined, but price level is not.

Readings:

1.*—Jacob Marschak, Income, Employment and the Price Level, Lectures 19 and 20.

2.—Sidney Weintraub, Income and Employment Analysis, Chapters 11 and 13.

3.—Francis M. Boddy, et al., Applied Economic Analysis, pp. 229-248.

4.—O. H. Brownlee, Economics of Public Finance, pp. 47-51.

5.—Don Patinkin, Money, Interest and Prices, IX-XII.

6.—Louis Hough, “An Asset Influence in the Labor Market”, Journal of Political Economy, June 1955.

7.—Robert Solow, “Technical Change and the Aggregate Production Function”, Review of Economics and Statistics, August 1957.

[8.*—Gershon Cooper, “Taxation and Incentive in Mobilization” in Readings in Taxation edited by Musgrave and Shoup.]

  1. Aggregate Demand for Goods and Services: The “Crude Classical Theory”
    1. The Quantity Identity
      1. The Demand for Money—a linear function of money income (expenditure)
      2. Assuming the supply of money (M) and the fraction of income which people with to hold as cash balances are independently determined, the equilibrium level of total money expenditure is determined.
      3. Effects of changes in money demand and money supply upon equilibrium level of money income or expenditure.
      4. Incorporation of assets as a variable influencing the demand for money
      5. Information obscured by the simple quantity identity (that omitting assets as a variable)
        (Note: further analysis of the quantity identity in terms of the kind of aggregate demand function for goods and services which it might imply will be made in subsequent sections).
    2. Equilibrium in the Labor, Money, and Commodity Markets under the assumption of the quantity identity.
      1. Quantity of labor supplied a function only of money wages
      2. Quantity of labor supplied a function only of “real” wages
      3. Division of “real” output between consumption and investment.

Readings:

1.*—J. M. Keynes, The General Theory of Employment, Interest, and Money, Chapters 2 and 19

2.—L. Klein, The Keynesian Revolution, Chapter 1 and the technical appendix, pp. 199-205

3.—Albert G. Hart, Money, Debt and Economic Activity, Chapters IV-VI and VIII

4.—Alvin Hansen, Monetary Theory and Fiscal Policy, Chapters 1-3

5.—Franco Modigliani, “Liquidity Preference and the Theory of Interest and Money”, Econometrica, 12: 45-88 (January, 1944)

6.—Seymour Harris, (editor) The New Economics, Part IX, Chapter XLI

7.—Francis M. Boddy, et al., Applied Economic Analysis, Chapter 12, 13 (pp. 222-229)

8.*—Jacob Marschak, Income, Employment and the Price Level, Lecture 2.

9.—Don Patinkin, Money, Interest and Prices, I-VIII

10.—Archibald and Lipsey, “Monetary and Value Theory,” Review of Economic Studies, October, 1958

11.*—Milton Friedman, Studies in the Quantity Theory of Money, Chapter I

12.—James Tobin, “The Interest-Elasticity of Transactions Demand for Cash”, Review of Economics and Statistics, August, 1956

13.—H. Rose, “Liquidity Preference and Loanable Funds,” Review of Economic Studies, XXIV (1956-57)

14.—Don Patinkin, Liquidity Preference and Loanable Funds, Economica, November, 1958

15.—Vera Lutz, “Multiplier and Velocity Analysis: A Marriage”, Economica, February, 1955

16.—G. C. Archibald, “Multiplier and Velocity Analysis: An Amendment”, Economica, August 1956

[17.—Ira O. Scott, “The Availability Doctrine: Theoretical Underpinnings”, Review of Economic Studies, XXV No. 1, 41-48]

  1. Aggregate Demand for Goods and Services: The “Keynesian Theory”
    1. Equilibrium in the “Commodity Market”
      1. Consumption (and Saving)
        1. Relationship to income
        2. Relationship to rate of interest
      2. Investment
        1. Relationship to the rate of interest
          1. The marginal efficiency of capital
          2. Uncertainty and the level of investment
        2. Relationship to current income
      3. The Equating of Savings and Investment (Aggregate Demand for Commodities = Aggregate Supply of Commodities)
      4. Determination of various combinations of the rate of interest and real income which will fulfill the condition for equilibrium in the commodity market (will make savings = investment)
    2. Equilibrium in the Money Market
      1. The Liquidity Preference Schedule (The Demand for Money)
      2. With money supply (M) autonomously determined, there will be various combinations of the rate of interest, real output and the price level which will provide for equilibrium in the money market.
        1. The general case
        2. The special “Keynesian” case
    3. Simultaneous Equilibrium in the Money and Commodity Markets: An Aggregate Demand Function
      1. Equilibrium rates of real output and price level which fulfill the conditions for equilibrium in both the money and commodity markets.

Readings:

1.*—Keynes, The General Theory of Employment, Interest, and Money

2.—The Keynesian Revolution (*particularly Chapter 3)

3.*—J.R. Hicks, “Mr. Keynes and the Classics”, Econometrica, 4: 147-159 (April, 1937); also included in Readings in Income Distribution, The Blakiston Co.

4.*—Franco Modigliani, “Liquidity Preference and the Theory of Interest and Money”, Econometrica, 12; 45-88 (January, 1944)

5.—Alvin Hansen, Monetary Theory and Fiscal Policy, Chapters 4-6

6.—Sidney Weintraub, Income and Employment Analysis, Part II

7.—K.E. Boulding, The Economics of Peace, Chapters 7-9

8.—Wassily Leontief, “Postulates; Keynes” General Theory and the Classicists”, included in The New Economics, Part 4, Chapter XIX

9.—The New Economics, Parts 3 and 9

10.—Abba P. Lerner, The Economics of Employment, Part II

11.*—Jacob Marschak, Income, Employment and the Price Level, Lectures 3-18

12.—O.H. Brownlee, “The Theory of Employment and Stabilization Policy” Journal of Political Economy, Oct. 1950, pp. 412-24.

13.—Ira O. Scott, Jr., “An Exposition of the Keynesian System”, The Review of Economic Studies, XIX, (1), pp. 12-18

14.—Joan Robinson, “The Generalization of the General Theory”, included in The Rate of Interest and Other Essays.

15.—Louis Hough, “The Price Level in Macroeconomic Models”, The American Economic Review, June, 1954, pp. 269-86.

16.—Milton Friedman and Gary S. Becker, “A Statistical illusion in Judging Keynesian Models”, Journal of Political Economy, February, 1957

17.—L. R. Klein, “The Friedman-Becker Illusion,” Journal of Political Economy, December, 1958; and Friedman & Becker, “Reply”, same issue.

18.—Martin J. Bailey, “Saving and the Rate of Interest”, Journal of Political Economy, August, 1957.

[19.—Hans Brems, Output, Employment, Capital and Growth, Part I.]

  1. The Equilibrium Levels of Output, Employment, Prices and the Rate of Interest in the Keynesian System.
    1. Aggregate Supply and Aggregate Demand with Flexible Money Wages
    2. Aggregate Supply and Aggregate Demand with Labor Supply Perfectly Elastic at a Given Money Wage
    3. Effects of Changes in Autonomous Variables and Parameters
      1. The autonomous component of investment
        1. The multiplier
      2. Government expenditure for goods and services
      3. The export surplus
      4. Money wage rates
      5. Technology
      6. The degree of monopoly and employers’ market expectations
      7. Population and the labor supply
      8. The money supply
      9. Marginal propensities to consumer and invest
  2. An alternative Macro-Static System
    1. Some weaknesses in the Keynesian theory
      1. A change in the structure of the system required to explain U.S. postwar experience
      2. Increased savings: income ratio as income increases not empirically verified.
    2. Assets consumption as a variable affecting
      1. Real Assets
      2. Monetary assets (cash and government debt)
      3. Aggregate demand for goods and services when assets are included as a variable in the consumption function
        1. Comparison with quantity theory
        2. Comparison with Keynesian theory
    3. The Duesenberry-Modigliani Hypothesis
    4. Including assets in other Functions: Labor Supply and Demand for Money

Readings:

1.*—Don Patinkin, “Price Flexibility and Full Employment”, American Economic Review, 38: 543-64 (September, 1948).

1a.*—Don Patinkin, Money, Interest and Prices, XIII-XV and appropriate appendices.

2.—__________, “The Indeterminancy of Absolute Prices in Classical Economic Theory”, Econometrica, 17: 1-27

3.—__________, “Involuntary Unemployment and the Keynesian Labor Supply Function”, Economic Journal, LIX: 360-83

4.—Haavelmo, Hickman, Leontief and Phipps on Patinkin, Econometrica 18: 1-26 (January, 1950)

5.—James Tobin, “Money Wage Rates and Employment”, included in The New Economics, Part 8, Chapter XL.

6.—Arthur Smithies, “Effective Demand and Employment”, included in The New Economics, Part I, Chapter XXXIX.

7.—A. P. Lerner, “Mr. Keynes’ General Theory of Employment, Interest, and Money”, Reprinted in The New Economics, Part 3, Chapter XI

8.*—Milton Friedman, “A Monetary and Fiscal Framework for Economic Stability”, American Economic Review, 38: 245-64 (June, 1948)

9.—A. C. Pigou, “Economic Progress in a Stable Environment”, Economica, 1947, pp. 180-90

10.—A. C. Pigou, “The Classical Stationary State”, Economic Journal, 53: 343-51 (1943)

11.*—James Duesenberry, “Income-Consumption Relations and Their Implications”, included in Income, Employment and Public Policy, Essay III in Part One, and as Chapter I in Income, Saving, and the Theory of Consumer Behavior.

[11a.—John H. Power, “Price Expectations, Money Illusion, and the Real-Balance Effect”, Journal of Political Economy, April, 1959, 1331-43.]

12.*—Franco Modigliani, “Fluctuations in the Saving-Income Ratio: A Problem in Economic Forecasting”, included in National Bureau of Economic Research, Studies in Wealth, Volume XI, pages 371-443.

13.—Paul A. Samuelson, “The Simple Mathematics of Income Determination”, included in Income Employment and Public Policy,” Essay VI in Part One.

14.—Oscar Lange, Price Flexibility and Employment, particularly Chapters I-V and IX-XI.

15.—Donald M. Fort, “A Theory of General Short-Run Equilibrium,” Econometrica, 13: 293-310 (October, 1945)

16.—Sidney Weintraub, Income and Employment Analysis, Part III

17.—G. L. Bach, “Monetary-Fiscal Policy Reconsidered”, Journal of Political Economy, LVII: 383-94 (October 1949)

18.—George Terborgh, The Bogey of Economic Maturity.

19.—A. P. Lerner, Economics of Employment, parts IV and V.

20.*—William Hamburger, “The Determinants of Aggregate Consumption”, Review of Economic Studies, XXII (1), pp. 23-34

21.*—Franco Modigliani and Richard Brumberg, “Utility Analysis and the Consumption Function”, included in Kenneth Kurihara, The Post Keynesian System—Essays in Honor of John Maynard Keynes.

22.—O. H. Brownlee, Economics of Public Finance, Chapters 3-6

23.—__________, “The Theory of Employment and Stabilization Policy”, Journal of Political Economy, October, 1950, pp. 412-24.

24.*—Milton Friedman, A Theory of the Consumption Function (particularly chapters 1-4.)

  1. Monetary-Fiscal Policy
    1. Effects of changes in government expenditures for goods and services, net tax collections, the tax structure and the supply of money on the demand for and supply of goods and services.
      1. In the Keynesian System
      2. In the Alternative System
    2. Built-In Flexibility vs. Ad. hominum [sic, “ad hoc”] changes.

Readings:

1.—Robert L. Bishop, “Alternative Expansionist Fiscal Policies: A Diagrammatic Analysis”, Lloyd A. Metzler, ed. Income, Employment and Public Policy.

2.—O. H. Brownlee, “Taxation and the Price Level in the Short Run”, The Journal of Political Economy, February, 1954, pp. 26-33.

3.—__________, The Economics of Public Finance, Chapter 6.

4.—Paul A. Samuelson, “Principles and Rules in Modern Fiscal Policy: A Neo-Classical Reformulation”, included in Money, Trade, and Economic Growth.

5.*—Milton Friedman, “the Effects of a Full-Employment Policy on Economic Stability: A Formal Analysis”, included in Essays in Positive Economics.

6.—E. Cary Brown, “The Static Theory of Automatic Fiscal Stabilization”, Journal of Political Economy, October 1955.

7.—Alfred Conrad, “The Multiplier Effects of Redistributive Public Budgets”, Review of Economics and Statistics, May, 1955.

8.—William A. Salant, “Taxes, Income Determination and the Balanced Budget Theorem”, Review of Economics and Statistics, May, 1957.

[9. Bent Hansen, The Economic Theory of Fiscal Policy.]

  1. Some Applications of Static Macroeconomic Analysis to Other Problems
    1. Disaggregated Systems
    2. Effects of Shifts in Expenditure and Income in One Sector upon Income in Other Sectors.

Readings:

1.—John S. Chipman, The Theory of Inter-Sectoral Money Flows and Income Formation.

2.—D. Gale Johnson and O. H. Brownlee, “Reducing Price Variability Confronting Primary Producers”, Journal of Farm Economics, May, 1950, 176-193.

  1. Macrodynamic Analysis
    1. The Nature of “Business Cycle” Theories.
    2. First-Order Difference Equations
      1. The Cobweb Theorem
      2. Lagging of Consumption or Investment by One Period
      3. Introduction of Disturbances
      4. A Dynamic “Keynesian” Model
    3. Models Involving Higher Order Difference Equations
      1. “Interactions between the ‘Multiplier’ and the ‘Acceleration Principle’”.
      2. Inventory decisions as related to changes in consumption or investment in Plant and Equipment.
    4. Problems of Prediction

Readings:

1.*—Paul A. Samuelson, “Interactions Between the Multiplier and the Principle of Acceleration”, included in Readings in Business Cycle Theory, 261-69.

2.—Mordecai Ezekiel, “The Cobweb Theorem”, included in Readings in Business Cycle Theory, 422-42.

3.—J. M. Clark, “Business Acceleration and the Law of Demand”, included in Readings in Business Cycle Theory.

4.—R. F. Harrod, The Trade Cycle, Chapter 2.

 

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Martin Bronfenbrenner Papers, Box 25, Folder “Macroeconomics, Problems & exercises. 1 of 2. 1961-70, n.d.”.

Image Source: Douglas Clement, “A Golden History” in Minnesota Economics (Fall 2006), p. 2.

Categories
Exam Questions Harvard Suggested Reading Syllabus

Harvard. Graduate Mathematical Economics. Syllabus and Final Exam. Chipman, 1952

 

 

John S. Chipman was born in Montreal, Canada, in 1926. He received his Ph.D. from the Johns Hopkins University in 1951, and taught at the University of Minnesota from 1955 to his retirement as Regents’ Professor in 2007.

Before going to Minnesota Chipman was assistant professor of economics at Harvard from 1951-55. This post provides a transcription of the course syllabus and final examination for Chipman’s “General Interdependence Systems”, a name he chose for the course he inherited bearing the nominal title of “mathematical economics”.

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Course Announcement

Economics 214b (formerly Economics 204b). Mathematical Economics

Half-course (spring term). Tu., Th., 2:30-4. Assistant Professor Chipman.

General interdependence systems; in particular, Leontief linear systems. Properly qualified undergraduates will be admitted to the course.

Source: Harvard University Archives. Courses of Instruction, Box 6. Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences during 1951-52 published in Official Register of Harvard University Vol. XLVIII, No. 21 (September 10, 1951), pp. 80-81 .

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Economics 214b
General Interdependence Systems

Second Semester, 1951-52
Syllabus

*Texts

I STATIC LEONTIEF MODEL

*Wassily W. Leontief: The Structure of American Economy, 1919-1939, New York, Oxford University Press, 1951.

II DYNAMIC MODELS

*John S. Chipman: The Theory of Inter-Sectoral Money Flows and Income Formation, Baltimore, The John Hopkins Press, 1951

Richard M. Goodwin: “The Multiplier as Matrix,” Economic Journal, December 1949

________________: “Does the Matrix Multiplier Oscillate?” December 1950

________________: “Static and Dynamic Linear General Equilibrium Models,” (mimeographed, Littauer Library)

David Hawkins and Herbert A. Simon, “Note: Some Conditions of Macroeconomic Stability,” Econometrica, July-October 1949

Oscar Lange, Price Flexibility and Employment, Bloomington, Indiana, Principia Press, 1944, Appendix.

Lloyd A. Metzler: “Stability of Multiple Markets: The Hicks Conditions,” Econometrica, October 1945

________________: “A Multiple Region Theory of Income and Trade,” Econometrica, October 1950

________________: “A Multiple-Country Theory of Income Transfers,” Journal of Political Economy, February 1951.

Paul A. Samuelson: Foundations of Economic Analysis, Ch. IX and Appendix B

________________: “A Fundamental Multiplier Identity,” Econometrica, July-October 1943

Arthur Smithies: “The Stability of Competitive Equilibrium,” Econometrica, July-October 1942

Robert Solow: “On the Structure of Linear Models,” Econometrica, January 1952

Frederick V. Waugh: “Inversion of the Leontief Matrix by Power Series,” Econometrica, April 1950

III ALLOCATION OF RESOURCES (“LINEAR PROGRAMMING”)

*Tjalling C. Koopmans (ed.): Activity Analysis of Production and Allocation, New York, John Wiley & Sons, Inc., 1951.

________________: “Efficient Allocation of Resources,” Econometrica, October 1951.

Nicholas Georgescu-Roegen: “Leontief’s System in the Light of Recent Result,” Review of Economics and Statistics, August 1950

John von Neumann: “A Model of General Economic Equilibrium,” Review of Economic Studies, October 1945.

 

MATHEMATICAL REFERENCES

(1) Matrices

R. A. Frazer, W. J. Duncan and A. R. Collar, Elementary Matrices, New York, Macmillan, 1947

C. C. MacDuffee, Vectors and Matrices, Menasha, Wisconsin, 1943

A. C. Aitken, Determinants and Matrices, Edinburgh, Oliver and Boyd, 1948

(2) Difference and Differential Equations

P. A. Samuelson, “Dynamic Process Analysis,” in A Survey of Contemporary Economics, Philadelphia, Blakiston, 1948

R. G. D. Allen, “Mathematical Foundations of Economic Theory,” Q.J.E. February 1949

F. R. Moulton, Differential Equations, New York, Macmillan, 1930, Ch. XV

W. J. Baumol, Economic Dynamics, New York, Macmillan, 1951.

(3) Set Theory and Abstract Algebra

F. P. Northrup and Associates, Fundamental Mathematics, Vol. I, Chicago, Univ. of Chicago Press, 1948

Richard Courant and Herbert Robbins, What is Mathematics?, New York, Oxford University Press, 1941

Garrett Birkhoff and Saunders MacLane, A Survey of Modern Algebra, New York, Macmillan, 1950

Paul Halmos, Finite Dimensional Vector Spaces, Princeton, Princeton University Press, 1948

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 5. Folder: “Economics, 1951-1952 (2 of 2)”.

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1951-52
HARVARD UNIVERSITY
ECONOMICS 214b
[Final examination]

Answer both questions

  1. Consider an economy composed of n sectors (say industries and households) and described by the model
    {{y}_{i}}\left( t \right)=\sum\limits_{j=1}^{n}{{{a}_{ij}}{{y}_{j}}\left( t-1 \right)}+\,\,\,\,{{b}_{i}}\,\,\,\,\left( i=1,...,n \right)
    where yi(t) is the output of sector i at time t, of which bi is the exogenous component, and where the input-output coefficients aij are all taken to be non-negative. Assuming the economy to be initially in a state of equilibrium, show under what conditions an autonomous rise in all the bi

    1. implies an increase in the equilibrium values of all the sector outputs;
    2. causes all sector outputs to approach, with time, new equilibrium values.
      Compare and interpret these conditions.
  2. “A possible activity is efficient if and only if there exists a set of positive prices for all commodities, which give rise to zero profits on this activity and non-positive profits on all other possible activities.”
    1. Prove this theorem, keeping in mind the following two properties of convex polyhedral cones:
      1. The negative polar of the intersection of two cones is equal to the sum of their negative polars;
      2. The sum of two cones is equal to the sum of their dimensionality spaces if and only if the relative interior of the one cone intersects the negative of the relative interior of the other.
    2. Indicate a modification of the theorem, with the appropriate modification of the definition of efficiency, when availability limitations are specified on certain primary commodities, which are no longer regarded as “undesirable.”
    3. Outline the properties of the efficient set in (b) when there is only one primary commodity and there is no joint production.
    4. Discuss the usefulness, significance, and validity of the notion of an efficient set of activities as employed in (a), (b), and (c).

Source: Harvard University Archives. Harvard University, Final examinations, 1853-2001. Box 27, Papers Printed for Final Examinations [in] History, History of Religions,…Economics,…, Air Sciences, Naval Science, June 1952.

Image Source: September 1961 entry card for John Somerset Chipman (b. 28 June 1926 in Montreal).  Rio de Janeiro, Brazil, immigration Cards, 1900-1965 at ancestry.com.

Categories
Economists Princeton

Princeton. Oskar Morgenstern and John von Neumann as Beach Buddies

 

Friend of Economics in the Rear-view Mirror, Karin Papp, has provided us a copy of this photo of Oskar Morgenstern (her father) and John von Neumann dressed for the beach. The history of economics is one digital artifact richer, thank you Karin!

I propose we give this snapshot the title “The Theory of Games: Beach Blanket Bingo edition”.

Incidentally, Oskar Morgenstern was named #38 in the Economists Wearing Bowties collection of this blog.

Categories
Economists Gender LGBTQ

Chicago. Economics PhD alumna, Leona Margaret Powell, 1924

 

This post adds further biographical/career information for the sixth woman to be awarded a Ph.D. in economics at the University of Chicago, Leona Margaret Powell, to that provided in an earlier page listing early Chicago economics PhDs (1894-1926). The arc of Powell’s career took her from librarian, to expert on the United Typothetae of America to managing editor of the Handbook of Business Administration, and back to the manager of the Bureau of Research and Information at the American Management Association.

Powell’s partial bibliography is found in the Bibliography of Female Economic Thought (Madden, Seiz, and Pujol, eds.), p. 381.

For over twenty years Leona M. Powell lived together with the English woman Phyllis Moulton, interpolating the 1920-40 U.S. census reports. It is not unlikely that the two met when Powell was working in London in 1918. By the 1940 census Moulton’s relation to the Powell’s “head of the household” was listed as “partner”. I believe Moulton died in 1942. 

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1884, July 19. Born in Grand Rapids, Ohio.

Parents: Octavia Allison née Crooks (1844-1933), Israel Powell (1845-1887).

1905. A.B. Ohio Wesleyan University. Awarded High honors upon graduation.

Phi Beta Kappa (Source: DePauw University yearbook Mirage (1911), p. 182)

1906-07[?]. Simmons College, School of Library Science, Boston, MA. (Source: DePauw University yearbook Mirage (1911), p. 182)

1909. Promoted from assistant librarian to head librarian of DePauw University, Greencastle, IN. Succeeding previous librarian who married the professor of rhetoric and English literature at the university and resigned Dec. 15, 1908. (Source: DePauw Alumnus 1938, p. 3.)

In the 1911 DePauw University yearbook Mirage Powell is identified as the university librarian (“past two years and a half”). Note: I have not seen the 1912 edition of Mirage, but in 1913 edition, Powell is no longer identified as the university librarian. Margaret Gilmore (Powell’s previous assistant: “acting librarian”)

1915. Assistant in Political Economy, University of Chicago.

1916-17. Assistant in Political Economy, University of Chicago.

1917. Author of Lesson B12 “Impersonality of modern life” in the U.S. Education Bureau’s Community Leaflets. Lessons in community and national life, edited by Charles H. Judd and Leon C. Marshall. Series B, pp.97-104.

1918-19. Clerk at the U.S. Shipping Board, Lancaster House, London SW1.

“Powell, Leona M., in case of emergency notify mother, Mrs. Octavia A. Powell, 6049 Ellis Avenue, Chicago, Illinois.” Departure Date 14 Sept 1918 from New York.  Civilian casual: “…on official Business U.S. Shipping Board”. (Source: U.S. Army Transport Service Arriving and Departing Passenger Lists, 1910-1939.)

Arrival in Liverpool aboard the SS Lapland of the White Star Steamship line on 29 Sept 1918 from New York. Passenger: “Powell, Leona M. Amer Shppg. Lancaster House, London SW1 clerk”. (Source: ancestry.com)

Return to New York City on 6 July 1919 aboard the S.S. Noordam from Falmouth UK (June 23, 1919 depart). Note: In addition to Leona M. Powell (age 35 of Chicago), another passenger on the ship was Hazel Kyrk (age 32, Ashley, Ohio). (Source: ancestry.com)

1920. U.S. Census:

Roomers at 6049 Ellis Ave: Leona Powell (editorial work, government) and her mother, Octavia. Also listed as roomer was Phylis Moulton (secretary, Art Store) age 30 (year of immigration 1919).

Note. Arrived 21 Dec. 1919 in New York on the S.S. Saxonia from London, Phyllis M. Moulton 30 years age, single. “Stenog. Nearest relative: 31 Meranda Rd, London, N. 19. Mother: Mrs Moulton. Final destination Chicago, Ill.” (Source: ancestry.com)

1923. Bureau of Industrial Relations of the United Typothetae of America.

1924. Ph.D., University of Chicago.

Thesis title: A history of the United Typothetae of America, with especial reference to labor policy.

1926. Leona Margaret Powell. History of the United Typothetae of America. University of Chicago: Chicago,

An account of the origin, development, and policies of the United Typothetae of America, which is the association of master printers of the United States and Canada. Contains chapters on national agreements with the unions, and the eight-hour day.

1928, September. Preface to Emily Clark Brown’s Joint Industrial Control in the Book and Job Printing Industry. BLS Bulletin No. 481 (December 1928)

“and my friends under whose direction I had my introduction to labor problems in the printing industry in the department of industrial relations of the United Typothetae of America….Leona M. Powell of the research bureau of the New York Employing Printers’ Association.

1930. U.S. Census:

Address: Hudson Terrace 4, Dobbs Ferry Village in Westchester County, Town of Greenberg.
Head of household: 45 years old single woman, Leona Powell, born in Ohio. Occupation: Research, Industry: Trade Association
Boarder: 40 year old single woman, Phyllis Moulton, born in England, social worker in a clinic.

1931. Handbook of Business Administration, W. J. Donald (Ed.-in-chief) and Leona Powell (Managing ed.). New York: McGraw-Hill Book Company, 1931.

1938. Manager, Bureau of Research and Information, American Management Association, New York, N.Y.

1940. U.S. Census:

Address: East 68th Street, New York
Head of household: Leona Powell, Librarian.
Partner: Phyllis Moulton: age 52, Social worker.

1940.  Arrival on the S.S. Evangeline, from Yarmouth, N.S. at Boston, MA July 6: Phyllis Moulton and Leona M. Powell. (Source: ancestry.com).

1942. Phyllis Moulton [not entirely certain this is the same Phyllis Moulton, though the birth year is indeed consistent], died Kings (Brooklyn), New York 6 June (birth year about 1889). (Source: ancestry.com)

1971, September 27. Leona Margaret Powell died in Delaware, Ohio.

Image Source: DePauw University yearbook Mirage (1911), p. 182.

Categories
Computing Economics Programs Faculty Regulations Fields Harvard

Harvard. Discussed at Faculty Meeting. Computer Access and “Mathematical Economics and Econometrics” as Optional Field, 1959

 

Notes from a faculty meeting in my experience are more often a list of items, resolutions, motions, and votes than a narrative of the actual discussion. The transcribed notes in this post come from a 1959 Harvard economics faculty meeting that had two items on the agenda. The first was John R. Meyer’s report on how to manage graduate student computing needs if the department were to lose access to IBM-650 services. The second discussion was a continuation of a debate in the department whether a new Ph.D. oral examination field “Mathematical Economics and Econometrics” should be introduced (plot spoiler: the resolution was tabled, at least for the time being).

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Economics Faculty Meeting Minutes
December 8, 1959

The Department of Economics met on Tuesday evening, December 8 [1959] at the Faculty Club. Those present: Messrs. Bergson, Chamberlin, Dorfman, Dunlop, Gerschenkron, Leontief, Mason, J. R. Meyer, Smithies (Chairman), Taylor, Black, McKie, Artle, Erbe, Daniere, Gill, Lefeber, Anderson, Baer, Gustafson, Hughes, Jones, Kauffman, Wilkinson, Mrs. Gilboy, and Miss Berman.

Abandonment of IBM-650

Professor John Meyer explained that with cheaper time available on newer computers within and outside the University the market for IBM-650 services is waning. A deficit on operations can be expected within a few months, and it will, therefore, be impossible to retain the machine. The problem the Department now faces is that of making available to students a computer training device comparable to the 650. The Harvard Univac can serve this purpose well although it is likely to disappear in the near future through the competition of better machines.

Professor Smithies called the attention of the meeting to two further effects of withdrawing the IBM-650:

(a) Students without outside financing will not, as in the past, be able to solve their problems by making use of free 650 time.

(b) It will no longer be possible to handle problems requiring a succession for short programs with some elements of trial and error; every program will have to be handed to an operator and the results, good or bad, will not be available until days later.

Both Professor Dorfman and Meyer vouched that, even under these impediments, the cost of most computations would be far lower through such a machine as the 704 than with the 650.

With respect to student training and student problem financing, Professor Leontief expressed the opinion that if scientific departments at Harvard can receive funds for the purchase of materials and equipment needed in the training of their students the Administration should certainly be ready to offer similar help in the social sciences. After hearing from Professor Meyer that the Dean’s offices had not been particularly responsive to this suggestion, Professor Leontief suggested than an arrangement could be entered with IBM by which we could contract at a discount for a large block of 705 time at their Cambridge Street laboratory with the understanding that we would sell some of the time to financially able Harvard users and utilize the remainder for training and computing students’ problems.

Professor Meyer agreed that this might become feasible in the near future when, with the appearance of an IBM-709 at the Smithsonian Institute and other 704’s in the neighborhood, IBM may face a buyers’ market. His proposal for the time being was to turn to Univac while it is still on our premises and to divert some of the departmental contributions now going to the support of the Littauer Laboratory to subsidize student training and to some extent student problems on the 704.

 

Introduction of a field labeled “Mathematical Economics and Econometrics” as an optional field for the oral Ph.D. examination

Professor Dorfman reintroduced his motion that “a field called ‘Mathematical Economics and Econometrics’ be one of the optional fields for the Ph.D. examination.” He recalled his previous arguments, i.e., that both Mathematical Economics and Econometrics become legitimate specialties in the general field of economics with a literature sufficiently abundant and specialized that a student well versed in economic theory and statistics will not generally know the former fields and that no student can become thoroughly familiar with them in his two years of graduate work unless his load is otherwise reduced. The substance of the proposed examination would be the literature in which relatively advanced methods of mathematical analysis are applied to economic theory and advanced methods of statistical analysis are applied to the processing of data relevant to economic problems.

The discussion centered around two objections: (1) to the extent that proficiency in economic theory is a prerequisite to mathematical economics and that an advance knowledge of statistics is required in econometrics, students who are examined in both the new field and one or both of the older fields of theory and statistics will obtain double credit for what is a single specialization and (2) an essential requirement of our Ph.D. is breadth of preparation in economics. As it is, nothing under the motion would prevent a student from presenting the following five fields: theory, statistics, mathematical economics and econometrics, mathematics and history. This clearly represents a narrow preparation and cannot be acceptable under our standards. The second objection, voiced most effectively by Professor Dunlop, was immediately recognized as valid, and Professor Dorfman amended his motion to include the condition that mathematics could not be presented jointly with the new field. He insisted, however, that students offering mathematical economics and econometrics are of such a type that, even without the amendment, they would not have taken advantage of the mathematics loophole. Their insistence on a mathematics examination is based entirely on the recognition that they cannot become proficient in their specialty while carrying in addition the same load as their colleagues.

Three different suggestions were offered as alternatives to the proposed motion.

(1) Professor Dunlop accepted the introduction of the new field as long as examinations in any or all of the three fields of theory, statistics, and mathematical economics and econometrics would not count toward more than two of the five fields required.

(2) Professor Chamberlin did not change the present field listing but proposed that a student could by previous arrangement ask to be examined in theory with emphasis on mathematical analysis, the requirements be correspondingly milder with respect to traditional theory and history of thought.

(3) Professor Bergson offered a variation of Professor Chamberlin’s proposal pointing out that, even without the introduction of mathematical analysis, economic theory is now a broad and somewhat ill-defined field so that, in order to better test the students’ analytical scale, fields of concentration should perhaps be agreed upon before the Ph.D. examination. He also emphasized that students do not after all stop learning after their oral examination and that since a student proficient in mathematics can be expected to make use of mathematical techniques in his thesis work the special examination might be the best time to test him on his ability in this field.

Professor Leontief injected a fatalistic note indicating that the problem will solve itself in the future as more and more students join the graduate school with a mathematical preparation such that the theory courses can make use of mathematical tools. For the present it would be unfortunate to have students neglect economic theory for the purpose of acquiring mathematical proficiency. We should, however, provide adequate training facilities for those who because of superior ability or previous preparation can benefit from courses in mathematical economics and, to the extent that recognition may be helpful, include a mention of their special skill in their records.

In view of the lack of agreement evidenced by the meeting, Professor Dunlop asked that the motion be tabled. All were in favor.

Andre Daniere
Secretary

Dictated 12/14/59

 

Source:  Harvard University Archives. Department of Economics Correspondence and Papers, 1930-1961 and some earlier. (UAV349.11), Box 13.

Image Source: Harvard Faculty Club from JDeQ’s August 2, 2013  blog entry “Dinner at the Harvard Faculty Club“.