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Development Exam Questions Harvard Syllabus

Harvard. Economic Development, Theory and Problems. Hainsworth, Bell and Papanek, 1960-1961

Gustav Papanek during a trip to Asia

The announced cast of instructors for “Theories and Problems of Economic Development” offered at Harvard in 1960-61 was headlined by Professors Edward S. Mason and John Kenneth Galbraith. With the election of John F. Kennedy to the U.S. Presidency, all sorts of staff adjustments became necessary in the economics department and the graduate school of public administration, e.g. Galbraith took leave beginning the second semester to serve as the U.S. Ambassador to India. I don’t know why Mason changed his teaching plans, but I figure his Dean duties might have played a role.

The actual staffing for this course in 1960-61 is recorded in the staffing and enrollment information published in the annual report of the President of Harvard College also transcribed here. The course was the economics department offering that ran parallel to the Graduate School of Public Administrations seminar on the same subject.

This post begins with biographical information for the three course instructors: Geoffrey Brian Hainsworth, David E. Bell and Gustav Papanek.

The course outline and reading list is probably what had been originally planned/approved by Mason and Galbraith, though that is merely a presumption to be sure. Only the final exam for the first semester was found in the collection of economics exams in the Harvard Archive.

In preparing this post I learned that Gustav Papanek had been one of many academics purged from government service during the McCarthy years. The 2019 BBC story “How we endured the McCarthy purges in US” mentions his case and is the source of the photo of young Gus Papanek.

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Who’s Who
1960-61

HAINSWORTH, Geoffrey Brian, academic; b. Bramley, Yorkshire, Eng., 1934; B.S. in Econ., London Sch. of Econ., 1955; Ph.D., U. Calif. at Berkeley, 1960.
DOC. DIS. “Classical Theories of Overseas Development,” 1960. PUB. Japan’s Decision to Develop, 1969; Economic Development in South-East Asia, 1969; “The Lorenz Curve as a General Tool of Economic Analysis,” Econ. Record, Sept. 1964:
RES. Manufacturing Development and Economic Growth in Southeast Asia; Text on Economic Development with special reference to Asia.
Instr. econ., Harvard, 1958-61, tutor Lowell House, 1958- 61; asso. with Pakistan and Iran Advisory Project, 1958-61; research fellow, Australian Nat’l U., 1961-65; asst. prof., Williams Coll., 1965-68, U. British Columbia since 1968.

Source: American Economic Association, List of Members, 1969 p. 173.

In Memoriam:
Professor emeritus Geoffrey Hainsworth
1934 – 2011

Geoffrey was born in Bramley, Yorkshire. In 1952 he received a state scholarship to attend the University of London, graduating from the London School of Economics in 1954 and receiving the Allyn Young Honours Prize. A Fulbright Scholars grant enabled him to obtain his PhD at the University of California at Berkeley, his thesis being classical theories of overseas development, a subject he pursued throughout his working life. He taught at Harvard from 1958 to 1960 while supervising the study program for foreign service fellows under the Harvard Development Advisory Service, along with participation in Pakistan’s Second Five‑Year Plan. He spent 1960 to 1965 as a research fellow and instructor at the Australian National University in Canberra, with research work in Papua New Guinea. His three children were born in Canberra. Returning to the US, he taught at Williams College in Massachusetts while supervising specially selected mature foreign student fellows at the Centre for Economic Development. Geoffrey started his career at UBC in 1968, where he founded the Centre for Southeast Asia Studies, retiring as its director in 2001. He was one of a select Canadian Educators Group invited in 1976 to visit institutions in China. He organized the first international conference for Southeast Asian Studies in 1979 and was twice elected president of the Canadian Council for Southeast Asian Studies. He was greatly respected and valued by colleagues in Canada and abroad, having lived in Malaysia, Indonesia and Vietnam working with their governmental agencies and their universities. Dedicated to equality, justice and compassion, he touched the lives of many. Learning, understanding and laughter was his way.

Source: The University of British Columbia Magazine.

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PAPANEK, Gustav F., academic; b. Vienna, Austria, 1926; B.S., Cornell U., 1947; M.A., Harvard, 1949, Ph.D., 1951.
DOC. DIS. Food Rationing in Britain, 1939-1945, 1950.
PUB. Pakistan’s Development – Social Goals and Private Incentives, 1967; Development Policy – Theory and Practice (ed.), 1968.
RES. Development Policy II – The Pakistan Experience. Dep. chief, Program Planning for S. & S.E. Asia, Dept. of State, Tech. Cooperation Adm., 1951-54; actg. project dir. & advr., Harvard Advisory Group to Planning Commn., Pakistan, 1954-58; dep. dir., Dev. Advry. Service, 1958-65, dir. since 1965.

Source: American Economic Association, List of Members, 1969 p. 332.

Gustav Fritz Papanek
d. September 20, 2022

Professor Gustav Fritz Papanek, died peacefully at his home in Lexington, MA on September 20, 2022. Gus, the husband of the late Hanna Kaiser Papanek was born in Vienna, Austria on July 12, 1926, the son of the late Dr. Ernst Papanek and Dr. Helene Papanek. His father was a committed social democrat and educator who was forced into exile in 1935 as the impending storm approached in Germany and Austria. His mother, a physician, looked after Gus and his late brother, George as Ernst evaded persecution. As Socialists and Jews, the family fled initially to France where Ernst ran homes for refugee children. Gus met his future wife Hanna when they were 13 years old in one of the children’s homes. With the impending fall of France, the family knew that Europe was no longer safe for them and in 1940 with the support of the International Rescue Committee they made it to New York. Gus frequently reminisced about teaching English during the journey and sailing into New York Harbor past the Statue of Liberty.

 

Gus graduated from high school at age 16 and went to Cornell University – initially studying agriculture and working his way through school with farm jobs. His college years were interrupted by WWII – he enlisted in the army and was trained in the infantry and artillery until the army realized that a native German speaker was more valuable in military intelligence. Gus trained at the well-known Fort Ritchie in Maryland and was then deployed to Germany where he assisted in finding Nazi war criminals. He was always proud of his military service.

 

When he returned home, he graduated from Cornell. Gus and Hanna married soon after their college graduation. Gus went on to study economics at Harvard University under John Kenneth Galbraith, receiving his Ph.D. In 1952. Hanna received her Ph.D. in Sociology at Harvard, and their careers and work were entwined for the duration of their nearly 70-year marriage. Gus went on to take a job in the US State Department in Washington, DC working with the Agency for International Development – however it was the height of the McCarthy era and Gus was fired for his socialist beliefs. He rebounded and returned to Harvard where he began his life’s work of studying income distribution, employment, and poverty in developing countries. He and Hanna moved to Karachi, Pakistan with daughter Joanne and son Tom, returning to Harvard in 1958. Gus worked in many countries in Asia, Africa, and Latin America – advising governments on developing effective economic policies Gus ultimately specialized in Asian economies where he was recognized as a pre-eminent expert on Pakistan and Indonesia. He developed strong ties in both countries as a friend and trusted advisor. During the struggle for the independence of East Pakistan, Gus was an active advocate testifying before the US Congress and recognized by the government of Bangladesh as a Friend or the Liberation War Honor.

 

In 1974, Gus moved to Boston University as Chair of Economics, building a renowned department with strong interests in development economics. During his career, Gus trained two generations of economists who would go on to take important leadership positions in their home countries. After achieving emeritus status at BU, Gus continued his consulting work through his company the Boston Institute for Development Economics – working on books, papers and giving invited university lectures until several months ago. This year, he sent his last two books to the publisher – one a blueprint for the Indonesian economy and the last a memoir drawn from a series of talks that he gave to family and friends this past spring.

 

Gus was devoted to his family – teaching his son and daughter to ski, white-water kayak and hike in New Hampshire and Maine, and snorkel the reefs of the Caribbean. For over 40 years, Gus and Hanna’s vacation home in Brownfield, ME was a focal point of family life for their children and grandchildren. As Gus traversed the globe, he always ensured that his itinerary included Chicago to spend time with Tom, Doris, and their children. He and Hanna traveled widely – often visiting family and drawn overseas by interests in other cultures and landmarks. They instilled their love of travel in their grandchildren, who accompanied them on many journeys over the years. Meals were the focal point of family gatherings – with long, spirited and often political conversations – always concluding with chocolate in some form.

 

Gus is survived by his son Tom Papanek (Doris Wells Papanek) of Barrington, IL, daughter Joanne Papanek Orlando (Rocco Orlando, III) of South Glastonbury, CT, grandchildren Jessica Papanek, Julia Papanek, Rocco Orlando, IV (Katie Moran), Alexander Orlando, great granddaughters Brooke and Willow Orlando as well as his nephew Michael Papanek, niece Deborah Ferreira (Chris). His niece Susan Papanek McHugh (Steve) pre-deceased him recently.

Source: Gustav Fritz Papanek of Lexington, Massachusetts, 2022 Obituary. Anderson-Bryant Funeral Home (September 30, 2022).

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David E. Bell, the Clarence James Gamble Professor of Population Sciences and International Health Emeritus, died Sept. 6, 2000, after a brief illness. He was 81.
An economist who served as special assistant under President Truman and as director of the U.S. Bureau of the Budget and of the Agency for International Development (USAID) under President Kennedy, Bell headed the Harvard Advisory Group to Pakistan from 1954 to 1957, an effort that later evolved into the Harvard Institute for International Development (HIID) and more recently the Center for International Development (CID). From 1957 to 1960, he taught economics at Harvard.
In the 1960s and ’70s, Bell led the international work of the Ford Foundation. He returned to Harvard in 1981, becoming director of the Center for Population and Development Studies at the School of Public Health (HSPH). He became emeritus in 1988, but continued to work at the Center on a daily basis, making himself available to students, fellows, and faculty who were able to benefit from his experience and wisdom.
University Provost Harvey Fineberg said of Bell: “David Bell lived a life dedicated to public service and to education. His leadership was the bedrock for programs in population and international health at the School of Public Health and the Center for Population and Development Studies. He was an invaluable guide to a generation of students and to colleagues at every stage of their careers. Anyone privileged to work with him became better by the experience.”
Lincoln Chen, formerly the Taro Takemi Professor of International Health at HSPH and currently executive vice president for program strategy at the Rockefeller Foundation, had this to say of his former colleague:
“David Bell was a supreme global public servant, bringing his talents, skills, and commitments to solving some of the world’s most pressing problems — health, population, economic development. Due to his modesty and despite his extraordinary history of work, David Bell’s contributions are imbedded in the people and institutions he helped create, nurture, and grow. He did little to aggrandize his own name or reputation; indeed, his stature and wisdom were such that it was not necessary.”
Derek Bok, the Three Hundredth Anniversary University Professor and Harvard President Emeritus, called David Bell “one of the finest human beings I have been privileged to know during my 40 years at Harvard. His combination of experience, judgment, compassion, and impeccable ethical standards are simply irreplaceable.”
Born in Jamestown, N.D. in 1919, Bell earned his bachelor’s degree in 1939 from Pomona College in Claremont, Calif., and his master’s degree from Harvard in 1941. His pursuit of a doctoral degree was interrupted when he agreed to direct the Harvard Advisory Group to Pakistan.
A fellowship was established in his honor at the Center in 1991, helping to host fellows with the objective of preparing scholars, managers, and policy makers for leadership roles in developing countries. The David E. Bell Lecture Series was inaugurated in 1999.
He leaves his wife of 56 years, Mary Barry Bell; his daughter, Susan Bell of Putney, VT; his son, Peter Bell of Watertown, MA; his sister, Barbara Bell Dwiggins of San Luis Obispo, CA.; seven grandchildren; and two great-grandchildren.

Source:  Ken Gewertz, “Economist David Bell dies at 81,” The Harvard Gazette, September 21, 2000.

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Course Announcement

Economics 169 (formerly Economics 108). Theory and Problems of Economic Development, I
Half course (fall term). M., W., (F.), at 12. Professor [Edward S.] Mason, Dr. [Gustav] Papanek and Mr. [David] Bell.

A systematic survey of the subject, including consideration of theories of growth for both advanced and underdeveloped economies, the different historical paths to development, and the problems of technological change, capital accumulation, and economic planning. Intended for advanced undergraduates and graduates.
Prerequisite: Economics 98a.
[Junior year tutorial for credit dealing with macroeconomic theories and policies. The course serves as preparation for more specialized training in the subject matter in Group IV graduate and undergraduate courses. The course consists of both lectures and tutorial, normally with one lecture and one tutorial session per week. It was taught by Professor Smithies in 1960-61.]

Economics 170 (formerly Economics 108). Theory and Problems of Economic Development, II
Half course (spring term). M., W., (F.), at 12. Professor [John Kenneth] Galbraith, Dr. Hainsworth and Mr. [David] Bell.

A continuation of Economics 169. Prerequisite: Economics 98a or 169.

Source: Harvard University, Faculty of Arts and Sciences. Courses of Instruction, 1960-1961. Official Register of Harvard University, Vol. 57, No. 21 (August 29, 1960), pp.97-98.

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Course Enrollments and Staffing

[Economics] 169 (formerly Economics 108). Theory and Problems of Economic Development, I. Dr. Hainsworth and Mr. Bell. Half course. (Fall)

Total 58: 12 Graduates, 8 Seniors, 4 Juniors, 3 Sophomores, 4 Radcliffe, 27 Others.

[Economics] 170 (formerly Economics 108). Theory and Problems of Economic Development, II. Dr. Papanek. Half course. (Spring)

Total 58: 10 Graduates, 8 Seniors, 9 Juniors, 2 Sophomores, 3 Radcliffe, 26 Others.

Source: Harvard University. Report of the President, 1960-61, p. 77.

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Course Outline and Reading Assignments

Economics 169
Theories and Problems of Economic Development (I)
Fall 1960

  1. Introduction:

Scope and method of course, definition and measurement of economic development, characteristics of underdeveloped countries.
(September 26-30)

Assigned reading:

W. A. Lewis, Theory of Economic Growth, Ch. 1 and appendix

S. Kuznets, Six Lectures on Economic Growth, Lectures I and III

Suggested reading:

E. E. Hagen, “Some Facts About Income Levels and Economic Growth,” Review of Economics and Statistics, Feb. 1960

M. Abramovitz, “The Welfare Interpretation of Secular Trends in National Income and Product,” in The Allocation of Economic Resources (Stanford, 1959)

  1. Evolution of Growth Theories in Advanced Countries
    (October 3-28)

Assigned Reading:

Meier and Baldwin, Economic Development, Chs. 1-4

H. Mint, Theories of Welfare Economics, Ch. 1

Allyn Young, “Increasing Returns and Economic Progress,” Economic Journal, Dec. 1928, reprinted in R. V. Clemens, Readings in Economic Analysis, Vol. I, Ch. 6.

W. J. Baumol, Economic Dynamics: An Introduction, Ch. 2

W. Fellner, Trends and Cycles in Economic Activity, Chs. 4-9

Suggested Reading:

E. Domar, Essays in the Theory of Econmic Growth, Ch. 1

K. Boulding, “In Defense of Statics,” Quarterly Journal of Economics, Nov. 1955.

J. M. Letiche, “The Relevance of Classical and Contemporary Theories of Growth to Economic Development,” American Economic Review, Proceedings, May 1954.

  1. Historical Patterns of Economic Development
    (October 31 – November 25)

Assigned Reading:

Meier and Baldwin, op. cit., Chs. 7,8,9.

H. F. Williamson (ed.) The Growth of the American Economy, Chs. 1, 5, 17, 34, 48.

B. Higgins, Economic Development, Chs. 9 and 10.

A. Bergson (ed.), Soviet Economic Growth, Chs. 1 and 2.

W. W. Lockwood, Economic Development of Japan, Chs. 1 and 10.

Suggested Reading:

W. Rostow, Stages of Economic Growth.

T. S. Ashton, The Industrial Revolution 1760-1830.

W. Ashworth, A Short History of the International Economy 1850-1950, esp. Chs. 1, 2, 3.

E. A. J. Johnson and H. E. Knoos, The Origins and Development of the American Economy.

Committee for Economic Development, Economic Growth in the United States, Feb. 1958

  1. Theories of Underdevelopment and How Development Can be Started
    (November 28 – December 21)

Assigned Reading:

B. Higgins, Economic Development, Part IV.

Suggested Reading:

P. Baran, “The Political Economy of Backwardness,” The Manchester School, Jan. 1950

E. Hagen, “How Economic Growth Begins,” Public Opinion Quarterly, Fall, 1958.

A. Hirschman, The Strategy of Economic Development.

H. Leibenstein, Economic Backwardness and Economic Growth.

H. Myint, “An Interpretation of Economic Backwardness,” Oxford Economic Papers, June 1954.

H. Oshima, “Economic Growth and the ‘Critical Minimum Effort’”, Economic Development and Cultural Change, July 1959

W. Rostow, “The Take-off into Sustained Growth,” Economic Journal, March 1956.

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Economics 170
Theories and Problems of Economic Development II
Spring 1961

  1. Political, Social, Cultural Factors – Organizations and Institutions
    (February 6-10)

Assigned Reading:

W. A. Lewis, Theory of Economic Growth, pp. 57-162, 408-418

P. Baran, “The Political Economy of Backwardness,” The Manchester School, January 1950. (Reprinted in Agarwala and Singh, op. cit.)

G. A. Almond and J. S. Coleman (Eds.), The Politics of the Developing Areas, pp. 536-544

Suggested Reading:

S. Frankel, Economic Impact on Underdeveloped Societies, Chapter 8

M. Levy, “Some Social Obstacles to Capital Formation in Underdeveloped Areas,” in Capital Formation and Economic Growth, (Princeton 1955)

T. Parsons, [title left blank] in The Challenge of Development (Tel Aviv 1957)

  1. Productivity, Technology and Technical Change
    (February 13-24)

Assigned Reading:

Lewis, Chapter 4

C. P. Kindleberger, Economic Development, Chapters 6 & 10

Suggested Reading:

C. Kerr, “Productivity and Labor Relations,” in Productivity and Progress, (Proceedings of the Summer School, Australian Institute of Political Science, 1957)

R. Eckaus, “Factor Proportions in Underdeveloped Areas,” American Economic Review, September 1955, (Reprinted in Agarwala and Singh, op. cit.)

G. Ranis, “Factor Proportions in Japanese Development,” American Economic Review, September 1957

W. Moore, Industrialization and Labor

T. Scitovsky, “Two Concepts of External Economics,” Journal of Political Economy, April 1954

J. A. Stockfisch, “External Economics, Investment, and Foresight,” Journal of Political Economy, October 1955

A. Hirschman, “Investment Policies and ‘Dualism’ in Underdeveloped Countries,” American Economic Review, September 1957

  1. Capital Accumulation
    (February 27 – March 22)

Assigned Reading:

Lewis, pp. 201-244

R. Nurkse, Problems of Capital Formation in Underdeveloped Countries, Chapters 1-3

N. Kaldor, Indian Tax Reform: Report of a Survey (New Delhi, 1956)

Bernstein and Patel, “Inflation in Relation to Economic Development,” International Monetary Fund Staff Papers, 1952

T. Schelling, “American Aid and Economic Development: Some Critical Issues,” in International Stability and Progress (The American Assembly, 1957)

Suggested Reading:

R. Mikesell, Promoting U. S. Private Investment Abroad, (National Planning Association Pamphlet, 1957)

M. Bronfenbrenner, “The Appeal of Confiscation in Economic Development,” Economic Development and Cultural Change, April 1955

S. Kuznets, “Economic Growth and Income Inequality,” American Economic Review, March 1955

  1. Planning and Resource Allocation
    (March 24 – April 19)

Assigned Reading:

G. Haberler, International Trade and Economic Development, (National Bank of Egypt Lectures, 1959)

E. Mason, Economic Planning: Government and Business in Economic Development(Fordham University Lectures 1958)

J. Tinbergen, The Design of Development, (Johns Hopkins, 1958), pp. 1-58

G. Papanek, Framing a Development Program, (International Conciliation, March 1960), p. 307-337

Suggested Reading:

R. Nurkse, “Reflections on India’s Development Plan,” Quarterly Journal of Economics, May 1957

W. Nicholls, “Investment in Agriculture in Underdeveloped Countries,” American Economic Review, Papers and Proceedings, May 1955

W. A. Lewis, “On Assessing a Development Plan,” Economic Bulletin, (Ghana), May – June 1959
(Mimeographed copies are on reserve in Lamont and Littauer Libraries)

D. Bell, “Allocating Development Resources: Some Observations Based on Pakistan Experience,” Public Policy IX, (Yearbook of the Graduate School of Public Administration, Harvard University, 1959)

  1. Case Studies
    (April 21 – May 1)

Note:
This is a preliminary list only. Other countries may be added and the assignments for the countries now listed will be changed to some extent.

Assigned Reading:
The assigned reading for this section of the course is the material listed below for one country only. (Students coming from underdeveloped countries are requested to read the material for a country other than their own. Please note that there will be one question on the final examination calling for an answer in terms of the country selected.
There will be no additional assignment during the reading period.

Indonesia

Background:

L. Fischer, The Story of Indonesia

Development Problems:

B. Higgins, Indonesia’s Economic Stabilization and Development

B. Higgins, Economic Development, pp. 50-58, 730-741

India

Background:

M. Zinkin, Development for Free Asia

Development Problems:

Government of India, Second five Year Plan, Chapters 1-7

Government of India, Second Five Year Plan Progress Report, 1958-59 (April 1960), pp. 1-28

M. Brower, “Foreign Exchange Shortage and Inflation Under India’s Second Plan,” Public Policy IX, 1959

W. Malenbaum, “India and China, Contrasts in Development,” American Economic Review, June 1959

R. Nurkse, “Reflections on India’s Development Plan,” Quarterly Journal of Economics, May 1957

Pakistan

Background:

M. Zinkin, Development for Free Asia

Development Problems:

Government of Pakistan, Second Five Year Plan (June 1960), pp. 1-118, 397-414

Government of Pakistan, Planning Commission, Report of the Panel of Economists on the Second Five Year Plan (August 1959)

F. Shorter, “Foodgrains Policy in East Pakistan,” Public Policy IX, 1959

Ghana

Background:

D. Apter, The Gold Coast In Transition

Development Problems:

Government of Ghana, Second Development Plan (March 1959)

Government of Ghana, Economic Survey 1958

W. A. Lewis, “On Assessing a Development Plan,” Economic Bulletin, June-July 1959 (Mimeographed copies on reserve in Lamont and Littauer Libraries).

Western Nigeria

Background:

IBRD Mission, The Economic Development of Nigeria, 1955

Government of Western Nigeria, Development of the Western Region of Nigeria 1955-60

Government of Western Nigeria, Progress Report on the Development of the Western Region of Nigeria, 1959

Government of Nigeria, Economic Survey of Nigeria 1959

  1. Summary and Conclusions
    (May 3)

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 8, Folder “Economics, 1960-1961 (2 of 2)”.

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ECONOMICS 169
Final Examination
January 25, 1961

Answer five questions, one from each part of the examination. Observe the time allocation of each part: weight in grading will be apportioned in correspondence with this allocation.

Part I (30 minutes)

Answer ONE of the following questions:

  1. Compare and contrast the analysis of “the limits to the production of wealth” in the writings of two of the following authors: A. Smith, D. Ricardo, J. S. Mill.
  2. “The classical theory of economic policy was not simply a doctrinaire adherence to the prescription: ‘Laissez-faire’. It is better regarded as a series of individual and practical suggestions on how an underdeveloped country might best achieve economic growth.”
    Discuss the above quotation with reference to the recommendations for economic policy of either a leading classical economist, or the classical economists in general.
Part II (45 minutes)

Answer ONE of the following questions:

  1. Give a brief account of the views of two of the following authors on the subject of capital and its investment (and, where possible, on innovation), and compare their relevance to the conditions of present-day underdeveloped countries: Karl Marx, J. A. Schumpeter, J. M. Keynes, W. Fellner, E. Domar (or R. F. Harrod).
  2. “Both neoclassical and modern theories of the determination of national output are greatly dependent upon the institutional structure of the countries whose economic operations they were devised to explain. Both sets of theory, therefore, are very limited in their application to other institutional frameworks — particularly those of 20th century underdeveloped countries.”
    To what extent do you believe the above to be a valid criticism of attempts to apply either neoclassical or modern economic theory to underdeveloped countries? Is any attempt made to qualify such theory when it is so applied?
    (You may illustrate your answer by reference to the structure of a presently underdeveloped country.)
    Can you suggest any major respects in which neoclassical or modern theory might be amended when applied to such a context? Or is the criticism valid to the extent of making such attempts at amendment futile?
Part III (30 minutes)
  1. Give an account of the influence of one of the following components in the economic development of either the United Kingdom in the 18th and 19th centuries, or the United States in the 19th and early 20thcenturies:
    1. land use and ownership
    2. location of industry
    3. capital formation
    4. transport and communications
    5. staple industries
    6. foreign commerce.

Note: In dealing with either the U.K. or the U.S. experience, it is permissible to draw upon the experience of the other country for purposes of comparison or contrast.

Part IV (30 minutes)
  1. You are economic advisor to the Prime Minister of Pogoland, a recently independent country with 60 million inhabitants. It has little industry in the modern sense; an agriculture that produces enough rice for home consumption; a per capita income of $50; small exports of pepper use to finance its very limited import needs (luxury goods for the small wealthy class, and some capital goods largely for the transport system). The country has some raw materials for industry, but not much. It can increase agricultural production, and there is a good international market for some of its agricultural products.
    The Prime Minister, who is a highly intelligent and able man with a degree in Elizabethan poetry from Oxford, has been impressed by the rapid and successful development of Japan and Russia. He would like you to outline very briefly (he is both busy and intelligent) what major aspects of either the Japanese or the Russian experience he can apply in his country, and what aspects he cannot apply, and why or why not. He is notinterested in receiving direct recommendations for Pogoland as such, only in the major aspects of Japanese or Russian experience which could, or could not, be useful to him.
Part V (45 minutes)
Reading Period Assignment
  1. As announced in lecture before Reading Period, you are expected to give a critical appraisal of a recent contribution to the discussion of one of these issues in development theory:
    1. Population.
    2. Dual economies, or the problem of backwardness.
    3. Motivation, or’ other social/cultural factors.
    4. Balanced vs. unbalanced growth.
    5. The “big push” or “critical minimum effort.”
    6. Stages of economic growth, the concept of take-off.

Note: Pleaase indicate clearly at the beginning of your discussion the contribution (article, articles, etc) you have selected for appraisal.

Source: Harvard University Archives. Faculty of Arts and Sciences, Papers Printed for Final Examinations [in] History, History of Religions,.., Economics,…Naval Science, Air Science. January 1961. In the bound volume: Social Sciences, Final Examinations, January 1961.

Image Source: (Young) Gustav Papanek during a trip to Asia. From BBC “How we endured the McCarthy purges in US” (12 May 2019).

 

Categories
Economists Harvard

Harvard. Application for PhD candidacy. Edward S. Mason, 1923

Below you will find a transcription of the paper trail of Edward Sagendorph Mason that documents the satisfaction of the requirements for his Ph.D. in economics (Harvard, 1925). 

Understatement is almost an art form in the hands of the chairman (Professor Frank W. Taussig) of Mason’s final doctoral examination  that followed acceptance of his dissertation: “His showing was highly creditable, even brilliant”.

_______________________

HARVARD UNIVERSITY
DIVISION OF HISTORY, GOVERNMENT, AND ECONOMICS

Application for Candidacy for the Degree of Ph.D.

[Note: Boldface used to indicate printed text of the application; italics used to indicate the handwritten entries]

I. Full Name, with date and place of birth.

Edward Sagendorph Mason, Clinton, Iowa. Feb. 22, 1899.

II. Academic Career: (Mention, with dates inclusive, colleges or other higher institutions of learning attended; and teaching positions held.)

University of Kansas 1916-’19
Harvard (graduate school) one year 1919-’20
Oxford University (Lincoln College) 1920-’23

III. Degrees already attained. (Mention institutions and dates.)

A.B. Kansas 1919
M.A. Harvard 1920
B. Litt. Oxford 1923

IV. General Preparation. (Indicate briefly the range and character of your undergraduate studies in History, Economics, Government, and in such other fields as Ancient and Modern Languages, Philosophy, etc.)

30-40 hours in Economics (Theory – Econ. Hist. – Banking – Hist. of Theory)
Political theory – American government.
English History – Modern French History.
French – 3 years.
English literature – 20-30 hours.

V. Department of Study. (Do you propose to offer yourself for the Ph.D., “History,” in “Economics,” or in “Political Science”?)

Economics

VI. Choice of Subjects for the General Examination. (State briefly the nature of your preparation in each subject, as by Harvard courses, courses taken elsewhere, private reading, teaching the subject, etc., etc.)

  1. Economic Theory. – Econ 11 at Harvard. Elementary and advanced courses at Kansas. – Reading and lectures in England and Germany.
    History of Theory (from Plato & Aristotle). Elementary course at Kansas – Reading and lectures at Oxford
  2. Statistics. – Graduate course at Harvard. Additional Reading.
  3. Public Finance. – Graduate course at Harvard.
  4. Economic History of England and the United States. – Elementary course in U.S. Econ. History at Kansas. Lectures and reading at Oxford.
  5. American Government and Constitutional Law. – Elementary course in Am. Gov. at Kansas. Graduate course in Const. Law at Harvard. Additional reading.
  6. International Trade. 

VII. Special Subject for the special examination.

International Trade

VIII. Thesis Subject. (State the subject and mention the instructor who knows most about your work upon it.)

Dumping – A Study of Certain International Trade Practices. England, Germany and the United States (B. Litt. Dissertation at Oxford in this subject. May submit same at Harvard.)
Professor Taussig.

IX. Examinations. (Indicate any preferences as to the time of the general and special examinations.)

General Examination. June 10th or after.
Special Examination. Next year.

X. Remarks

Attendance at Oxford makes it impossible for me to present myself before June 10th at the earliest.

Signature of a member of the Division certifying approval of the above outline of subjects.

[signed] F. W. Taussig

*   *   *   [Last page of application] *   *   *

[Not to be filled out by the applicant]

Name: Edward S. Mason

Approved: May 28, 1923

Ability to use French certified by C. J. Bullock. Oct 3, 1923.

Ability to use German certified by  C. J. Bullock. Oct. 3, 1923.

Date of general examination November 27, 1923. Passed. F.W. Taussig, ch[airman]

Thesis received 22 December 1924.

Read by Professors Taussig, Young, Williams.

Approved 14 January 1925.

Date of special examination 22 January 1925. Passed F.W.T.

Recommended for the Doctorate [left blank]

Degree conferred 24 February 1925

Remarks.  [left blank]

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

Record of E. S. Mason in the
Graduate School of Arts and Sciences

1919-20
Economics 11
[Economic Theory. Prof. Taussig]		 A
Economics 31
[Public Finance, Prof. Bullock]		 A minus
Economics 41
[Statistics: Theory and Analysis, Asst. Prof. Day]		 B plus
Government 19
[American Constitutional Law,
Mr. MacLeish]		 A
A.M.  1920

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

Dean not amused by late application

28 April 1923

My dear Mr. Mason:

Your application requesting for arrangements for a general examination this year has just been received. I am rather surprised that you should hand it in at such a late date and expect us to meke such arrangements. The list of examinations has been scheduled and printed for some weeks, and we cannot guarantee examinations for anyone after the first of June as it is exceedingly difficult to secure the presence of all the members of the examining comittee in Cambridge on the same day after the close of the lecture period. If you will indicate definitely the date of your return, which you mention vaguely in your letter, we shall try, however to arrange a committee for you at that time. Nothing can be promised, but we shall try to do what we can. I appreciate the convenience to you of taking the general examination this year, but I beg to remind you that due notice should be given of your plan of study and of your application for a general examination.

Very truly yours,
[unsigned carbon copy]

Edward S. Mason

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

Mason responds to the Dean regarding an early date for his general examination

Lincoln College,
Oxford.

May 9, 1923.

Dean C. H. Haskins,
Harvard University.

My dear Sir –

If it is convenient for you and for the examiners I should like to take the Ph.D. general examination (Economics) on June 12th. I am writing to Professor Bullock, my examiner in French and German, asking to be allowed to present myself June 11th for the language examinations.

May I emphasize again that if it causes the slightest inconvenience to yourself or the examiners, I should very much like to have the examination postponed till October or November, since I intend to be at Harvard next year in any case.

Thanking you for the trouble you have taken.

I am,

Very Truly Yours,
[signed] Edward S. Mason

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

Division Memo Regarding Planned General Examination (undated)

HARVARD UNIVERSITY
(INTER-DEPARTMENTAL CORRESPONDENCE SHEET)

Cambridge, Massachusetts

Edward S. Mason

June 10, or after.

  1. [Taussig] Economic Theory
  2. [Bullock] History of Theory (from Plato to Aristotle)
  3. [Crum] Statistics
  4. [Burbank] Public Finance
  5. [Usher] Economic History of England and the United States
  6. [Holcombe] American Government and Constitutional Law.

Special field: International Trade

Thesis being done with Professor Taussig.
Professor Taussig has signed the application.

French and German not certified.

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

22 May 1923

My dear Mr. Mason;

In view of the difficulty of arranging an examination so late in the year, and also in view of the fact that you have not satisfied your French and Gorman requirement, I think it would be better if the examination went over till fall. There will be no difficulty in arranging an examination for you early in October, if you so desire.

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

Certification of reading knowledge
of French and German

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
October 3, 1923.

Dear Haskins:

I have examined Mr. E. S. Mason, and find that he has such a knowledge of French and German as we require of candidates for the doctor’s degree.

Very truly yours,
[signed]
Charles J. Bullock

Dean C. H. Haskins

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

General exam postponed

21 November 1925

My dear Mr. Mason:

I am sorry to have to tell you that I have just now received a telegram from Professor Taussig from Yonkers, New York, saying that he has been detained by the sudden death of his brother, and that your examination would have to be postponed. I will let you know as soon as I hear anything further from him,

Very truly yours,
Secretary of the Division.

Mr. E. S. Mason

[Note: Frank Taussig’s brother, mayor Walter Morris Taussig of Yonkers, New York, committed suicide on Nov. 21, 1923.]

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

New Date for General Examination

23 November 1923

My dear Mr. Mason:

Your general examination is to be held on Tuesday, 27 November, at 4 p.m., in Upper Massachusette Hall.

Very truly yours.
Secretary of the Division.

Mr. E. S. Mason

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

General examination passed

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
November 30, 1923.

Dear Haskins:

As Chairman of the Committee appointed to conduct the general examination of Edward S. Mason, I have to report that Mr. Mason passed the examination by unanimous vote of the Committee.

Very truly yours,
[signed]
F. W. Taussig

Dean C. H. Haskins

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

Thesis accepted, but…

15 January 1925

My dear Mr. Mason:

I am happy to inform you that your thesis has been accepted. Under ordinary circumstances we should be glad to arrange your special examination as soon as practicable, but I cannot guarantee presence of a committee during the midyear examination period and the time is now too short to arrange
an examination in the next few days. Moreover, I do not see how you can be admitted to the final examination until you present suitable evidence of your graduate study elsewhere and you have been accepted by the authorities of the Graduate School as a candidate for the Doctorate. I understand from Dr. Robinson that the papers which you were to submit in support of your application for the Ph.D. have not yet been filed.

Sincerely yours,
[Initialed] C. H. H.

Mr. E. S. Mason

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

Papers in order, so special examination
can take place

16 January 1925

My dear Mr. Mason:

Since you have now straightened out the matter concerning which Professor Haskins wrote you yesterday, we are arranging your special examination for Thursday, 22 January, at 4 p.m. The committee will consist of Professors Taussig (chairman), Young, Williams, and Persons. I trust that this will be convenient for you. I will let you know about the place later.

Very truly yours,
[unsigned carbon copy]
Secretary of the Division.

Dr. E. S. Mason

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

Date and committee
for special examination

19 January 1925

My dear Mr. Mason:

This is to remind you that your special examination for the Ph.D. in Economics is to be held on Thursday, 22 January, at 4 p.m., in Widener U. The committee will consist of Professors Taussig (chairman), Young, Williams, and Persons.

Very truly yours,
[unsigned carbon copy]
Secretary of the Division.

Dr. E. S. Mason

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

Special examination passed

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
January 27, 1925.

Dear Haskins:

I have to report that Edward S. Mason passed his special examination for the Ph.D. degree on Thursday, January 22, by unanimous vote of the Committee. His showing was highly creditable, even brilliant.

Very truly yours,
[signed]
F. W. Taussig

Dean C. H. Haskins

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

Source: Harvard University Archives. Division of History, Government & Economics. PhD. Examinations, Box 6: 1924-26.

Image Source: Portrait of Edward S. Mason included in the Harvard Class Album 1932.

Categories
Chicago Economists Libertarianism LSE

NBC Meet the Press. Full transcript of inflation interview with Friedrich Hayek. June 22, 1975

Note: Adam Smith tie

Economist Joseph Herbert Furth (1899-1995) was born in Vienna. He was a student friend of Friedrich Hayek and later became the brother-in-law of Gottfried Haberler. In 1943 he was hired by the Federal Reserve Board in Washington D.C. and retired in 1966. Throughout his life he corresponded extensively with his fellow ex-pat Austrians. His papers are found at the University of Albany’s German and Jewish Intellectual Émigre Collections and the Hoover Institution archives. I found a printed copy of the complete NBC Meet the Press interview with Friedrich Hayek from June 22, 1975 in Furth’s Hoover Institution archived papers. 

When I checked to see if there was an on-line copy of this interview available, I discovered that the first portion of the interview that took place before station identification and commercial break was not included in either the audio or printed copies that I was able to find.

Economics in the Rear-view Mirror now provides for the digital record both halves of the Hayek interview.

Fun fact: the only living witness as of this posting is Washington Post columnist, George Will, who was 34 years old when the Hayek interview was broadcast.

___________________________

The existing incomplete transcript

Only the second half of the interview (after the commercial announcements) has been posted on-line up to this time.

Transcript prepared by Karen Y. Palasek in the Free Market Minute of the John Locke Foundation. Reposted at the mises.org website.

Two versions of the corresponding audio are out there to choose from:

___________________________

The National Broadcasting Company Presents

MEET THE PRESS
America’s Press Conference of the Air
Volume 19, Number 25
Sunday, June 22, 1975

Produced by Lawrence E. Spivak

  

Guest: Dr. Friedrich A. von Hayek,
Co-recipient, 1974 Nobel Prize in Economic Science

Panel:

Hobart Rowen, The Washington Post
Eileen Shanahan, The New York Times
George F. Will, The National Review
Irving R. Levine, NBC News

Moderator: Lawrence E. Spivak

Merkle Press Inc., Printers and Periodical Publishers
Subsidiary of Pubco Corporation
Box 2111, Washington, D. C. 20013
25 cents per copy

Permission is hereby granted to news media and magazines to reproduce in whole or in part. Credit to NBC’s MEET THE PRESS will be appreciated.

___________________________

SPIVAK: Our guest today on MEET THE PRESS is the winner of the 1974 Nobel Prize for Economics, Dr. Friedrich von Hayek.
Dr. von Hayek was a Professor at the London School of Economics for 20 years and at the University of Chicago for 13 years. Most recently he has been a visiting professor at the University of Salzburg. He is the author of the international best. seller, “The Road to Serfdom.”
Dr. von Hayek is a native of Austria and a citizen of Great Britain. He is completing a three months’ visit in this country.
We will have the first questions now from Irving R. Levine of NBC News.

LEVINE: Dr. von Hayek, through your long career you have consistently warned about the dangers of government policies that contribute to inflation. Last year this country had an increase in the cost of living of over 12 per cent. This year, because of the recession, so far the cost of living has gone up about half that rate, about 6 per cent. Do you think that the danger of inflation has passed in this country?

VON HAYEK: Oh, very far from it. People will be aware that as a result of stopping inflation there is unemployment, and they still believe that they can cure inflation by unemployment, which is wrong, because in the long run it only creates more unemployment.

LEVINE: How do you cure inflation?

VON HAYEK: You stop printing money.

LEVINE: Dr. von Hayek, you have pointed out that continued inflation over a period of time would lead to anarchy and to a form of dictatorship.
Is that a theoretical danger or do you see that as some kind of a real danger in this country?

VON HAYEK: Its connection is not so simple. I have been stressing that central planning has these effects, and inflation is likely to produce central planning, but inflation by itself is not likely to have any such direct consequences, because while inflation proceeds people are much too busy just coping with the changes.

LEVINE: You have cited a stop to the printing of money as the way to end inflation. That seems simple, as stated. How could the government actually accomplish that?

VON HAYEK: Well, you give orders to the printing press. Exaggerating. We can give orders to the Federal Reserve System. The only trouble is that stopping inflation has immediately some very unpleasant effects, and the question is always whether the government is willing to incur these effects, such as the unemployment, and perhaps, the necessity of reducing some expenditures.

(Announcements)

WILL: Dr. von Hayek, in the 30 years since World War II, some nations’ economies have done very much better than others. West Germany’s, for example, has done much better than Great Britain’s. Are there any generalizations you can draw from these? What is the secret to success and the secret to problems?

VON HAYEK: It is a very complicated issue, but there is one simple point. The German trade unions were extraordinarily sensible, and they were sensible because they remembered what inflation meant. I think it has certain implications. This sense may not last long, because the generation which remembers it is now going off, and I am rather apprehensive about the future.

WILL: Dr. von Hayek, we have a basically conservative administration in the United States today, but even it is facing planned deficits more or less planned deficits exceeding perhaps $100 billion in the next two years. Do you think this will cause a renewed and perhaps socially destructive inflation?

VON HAYEK: It is not unlikely, I am afraid. As long as the governing people are persuaded that inflation of this sort is even beneficial in its effect, the tendency in that direction will be very great. I think it all depends on persuading the responsible people of the danger of inflation.

ROWEN: Dr. von Hayek, you talked in response to Mr. Levine of a painful adjustment, of the unpleasant effects that we would have to endure in order to beat inflation. With all due respect, sir, aren’t your theories somewhat unrealistic in a political sense? Do you visualize governments today being able to take such steps as you recommend?

VON HAYEK: Perhaps, I’m unrealistic. As long as people do not fully realize the danger of inflation, they may well pressure for more inflation as a short term remedy for evils, so we may well be driven into more until people have learned the lesson. What it means is that inflation will still do a great deal of harm before it will be cured.

ROWEN: To be specific, what rate of unemployment do you think this country ought to be willing to tolerate in order to beat inflation? 12 percent, 15 percent?

VON HAYEK: It is not a question of what the country is willing to tolerate. The longer you have inflation, the greater unemployment becomes inevitable. You will have to choose. It is not a matter that government can avoid the unemployment that is caused by the previous misdirection of labor which the inflation has produced

ROWEN: But when you speak of unpleasant effects, just what are you talking about that the country would have to endure? It must be some level of unemployment that you are thinking of that would result if we do cure inflation.

VON HAYEK: In a period of inflation, a lasting inflation, when, if you want to achieve a tolerably stable position, you will have to go through a period of unemployment which may well last more than a year,

ROWEN: And how high could that get?

VON HAYEK: I couldn’t say. I would have to know much more about the specific conditions, but it would not exclude a temporary rise to 13, 14 percent, or something of the sort.

ROWEN: Do you think the social fabric of this country could tolerate a 14 percent rate of unemployment?

VON HAYEK: For a few months, certainly.

SHANAHAN: Professor von Hayek, your fellow Nobel laureate, Professor Leontiev [sic], is an advocate of planning, and two of our prominent Senators, Humphrey and Javits, have introduced legislation to implement his idea, which is largely a matter of study by various government agencies and recommendations, nothing compulsory.
Do you see in that kind of planning the same dangers that you see in a more mandatory form?

VON HAYEK: If it is really nothing compulsory, it will also be completely ineffective and therefore will do no harm. I think there is a very simple answer. He really imagines that somehow people are being made to do what he is planning.

SHANAHAN: The thought I believe that they have expressed is that such things as foreseeing shortages of industrial productive capacity could be highlighted and the industries encouraged to go ahead with the building of new plants, that sort of thing. Do you encompass that in your thought that it would be completely ineffective?

VON HAYEK: Why call it planning? If you can, give industry better information, by all means do.

SHANAHAN: Can we then say you support that legislation despite your fears of planning?

VON HAYEK: It has nothing to do with planning.

SPIVAK: Dr. von Hayek, did I understand you to say in answer to Mr. Levine’s question that the way to stop inflation is to stop the printing presses? Are you suggesting that that is what we are doing here, that we are just printing money and that is the way this inflation has started and that is the way this is continuing and that is the way it will continue.

VON HAYEK: In a sense, stopping the printing presses is a figurative expression, because it is being done now by creating credit by the Federal Reserve System. By this government action all inflation is ultimately a part of activities which government determines and can control, and all inflations have been stopped in the past by the government stopping creating money or preventing central banks from creating more money.
May I add just one thing. You see, all inflations have been stopped by people who believed in a very naive form of the quantitative [sic] theory and acted on that. It may be wrong, but it is the only adequate theory effectively to stop an inflation.

SPIVAK: You have been a student, I am sure, of the United States, because you taught here for many years. What do you think has started our inflation? We have had inflation for a number of years, and I don’t think that we were printing money at that time or that the Federal Reserve was necessarily dumping a great deal of money. What do you think was responsible for the beginning of our inflation?

VON HAYEK: The belief in the deliberate increase of aggregate demands as a means of creating employment. In effect, what is popularly called belief in Keynesian policies to create employment.

LEVINE: Dr. von Hayek, the general belief among administration economists is that we are near or at the bottom of the recession that we have been going through. Do I understand you to be saying we should be willing to experience a continuation of this period of low economic activity for another year or so rather than to take the kind of efforts that the government has taken of a tax cut in order to stimulate the economy?

VON HAYEK: The matter of the tax cut again aims at increasing aggregate amounts, and the present difficulty is not due to a deficiency of aggregate demand. It is due to the fact that without continued inflation you cannot maintain the people in the new employment in which they have been drawn by the inflation of the past.

LEVINE: I would like to pursue the first part of my question. Do you see a necessity, in order to avoid a resurgence of inflation, that the government undertake policies which will continue us at the present low level of economic activity for a period of a year or more?

VON HAYEK: Not necessarily at the low level, but we should not produce more than a very slow recovery. I would like to add this: The slower the recovery is, the better are the chances that it will last.

LEVINE: In a speech before a congressional group not long ago, you said that the threat to the free enterprise system of our society has never been more imminent than it is now. What did you mean by that?

VON HAYEK: Because I am afraid that government will continue to inflate to combat unemployment and try to meet the effects by imposing price controls, and if we use price controls for that purpose, we are driven into a centrally planned system.

WILL: Thirty years ago, Dr. von Hayek, you stressed and have subsequently stressed that political and economic liberties must either flourish together or perish together. Do you see signs, specifically in the United States today, or in Great Britain, with which you are familiar, that political liberty is endangered?

VON HAYEK: In Great Britain certainly. When it is quite clear that by the established democratic process you cannot conduct that kind of economic policy the present governing party wants to conduct, the danger of a reduction of political liberty in Great Britain is considerable.
In this country this is not so imminent, very largely for the reason that the efforts have not been directed so much towards a nationalization and direct government controls of industry, but the attempts have been made by a redistribution of incomes by taxation, and that is a much slower process. I think it tends in the same direction, but much more slowly than the other one.

ROWEN: Dr. von Hayek, how do you rate the impact of market power wielded by either unions or corporations as a factor in inflation? You seem to be putting all of the stress on the quantity of money and the printing press. Isn’t part of our inflation and part of the inflation in some other parts of the world due to the excessive market power of labor unions and corporations?

VON HAYEK: Never directly, when it may well be and frequently happens that because of the power of the unions, perhaps of the corporations, government feels compelled to inflate. It becomes the inducement for government action, but the immediate cause is always increase of the quantity of money by government, whatever the inducement to do so.

ROWEN: Returning to the crisis in Great Britain, the Chancellor of the Exchequer told me on Wednesday that the Cabinet will consider a return to a formal wage-price-incomes policy. What effect, if any, do you think that would have on the very high level of British inflation in wages and prices?

VON HAYEK: I don’t think it will help at all. You see, it might be necessary as a temporary measure, at the moment when you are in a position to stop the increase of the quantity of money. I do not see any prospect at all in the near future of the British government effectively stopping an increase in the quantity of money. In that situation you just disguise the effects of inflation for a time.

ROWEN: What would be your prescription for the ills that afflict Great Britain?

VON HAYEK: It is a problem of first persuading the public that in the present situation the pressure of the trade unions does not deserve public support. That you must achieve before you can do anything by legislation, reducing the powers of the trade unions. It must be a long process. I don’t see any immediate cure.

SHANAHAN: Professor von Hayek, you have always stressed government actions that inflate and government planning and controls as a great danger to our political freedom.
Many Americans see another scenario for loss of freedom in this country, which is economic policies that now have unemployment in the center cities among black youths over 40 per cent and that their anger and frustration can lead to violence which in turn will lead to repressive governmental action.
What do you say to that scenario? Can we just sit idly by and let that happen?

VON HAYEK: No, but it is with respect to the same cause. The unemployment of which you speak, which is the initial cause, is due to labor being temporarily directed into places or activities or industries where they cannot be maintained without further inflation. Therefore you can only cure that by achieving a new redistribution of labor between employments, adaptation to a condition in which aggregate demands need not progressively increase to maintain their employment.

SHANAHAN: You have said in everything you have written and said lately that this is a lengthy process, that we won’t get back to stable money quickly. Meanwhile, what do you do with these urgent problems and human hardships?

VON HAYEK: We must not assume that all problems are solvable in this short period. There are problems which we cannot solve or which trying to solve quickly may do more harm than good.

SHANAHAN: But in the meantime, what do you do with the human hardship and the mounting rage that is certainly building up?

VON HAYEK: I don’t think there is anything I can do about it. We will have to tide over the storm which may be threatening.

SPIVAK: Dr. von Hayek, may we get a bit specific on one particular thing, and that is Great Britain? You are a citizen of Great Britain. You have taught there and I think you know something about the economy there. As I understand it, their inflation rate may hit as high as 50 per cent. What is the consequence of something of that kind? What do you see is going to happen in the country of which you are a citizen?

VON HAYEK: You’ve got a very severe economic crisis with very extensive unemployment the moment inflation stops. We will probably have repetitive attempts to restart the process by returning to inflation. We will probably combat the wrong thing, the effect of inflation on prices by price controls. That will lead to centrally-directed economy, which will weaken the international economic position of Britain even worse, and that will probably result in the position that somebody may decide that the direction of economic policy has to be completely changed.
I almost hope that the severe crisis will come soon, won’t be a long, dragged out process of misery, but I don’t see any immediate chance with the present political situation in England of such a complete change in the economic policy as would be required.

SPIVAK: Are you saying that England is either going to go bankrupt or England is going to become a dictatorship? What specifically do you mean is going to happen in Great Britain?

VON HAYEK: The English people are beginning to experience, which they hardly have yet, that they have become very much poorer and are rapidly getting poorer still and that will lead to the resolution or the recognition that the policy of the past was wrong.
The amazing fact is that a great majority of the British people are not yet consciously aware that they are living in a very severe economic crisis, and for that reason they are not willing to consider themselves a complete change in policy.

SPIVAK: But what do you think is going to happen since you believe that? What is going to happen there? Are they going bust, or are they going into a dictatorship?

VON HAYEK: No country can go bust. All that can happen is that the economic conditions of daily life get much worse through scarcities. People will find their income is no longer sufficient to maintain their standard of life. They will come to distrust both the present government and the present policies and may then be willing to return to an altogether different system. But I am not a prophet. I can’t say how soon.

SPIVAK: And do you think if we follow along our present footsteps the same thing is going to happen to us?

VON HAYEK: Yes, but in 10 or 20 years’ time. It is not a problem for the immediate future.

LEVINE: Dr. von Hayek, to try to translate some of the things that you have been saying into the terms of the pocket-book of the average American, what advice would you give an American with savings of 20, 30, maybe 100,000 dollars? What should he do with that money to protect it against the problems of inflation that you have been discussing?

VON HAYEK: I still believe there is nothing better than putting it into equities, although that even doesn’t promise him today that it will actually preserve it, but it gives him a good chance of preserving a substantial portion of it.

LEVINE: Dr. von Hayek, these theories which you have gained such recognition for over a period of years have warned consistently, as has been pointed out, of the dangers and threats of inflation, and yet this country has undergone inflation for a great many years and the standard of living has consistently increased.
Does this lead you to question in any way your thesis?

VON HAYEK: Not in the least, because the dangers of inflation are very different ones. They are exactly the kind of unemployment which is now arising. I mean in the usual discussion there is quite a wrong emphasis. There are many bad effects of inflation, but the worst is that it draws labor into employments where they can be kept employed only by accelerating inflation, and the point inevitably arises when inflation cannot be accelerated sufficiently fast to keep them in that inflation. Inflation is like overeating and indigestion. Overeating is very pleasant. So is inflation. Indigestion comes only afterwards, and therefore people do not see the connection.

SPIVAK: We have less than two minutes.

WILL: Dr. von Hayek, capitalism, and particularly American capitalism would seem to have a good record at giving people a rising standard of living.
Why are so many intellectuals and particularly so many economists skeptical about and even hostile to capitalism?

VON HAYEK: I have been puzzling about it for a long time, particularly about the economists who also understand better, and it is very difficult to know why they don’t. I think it is an attraction of a system an intellectual attraction of a system which you can deliberately control, which is fascinating to the intellectual.

ROWEN: Dr. von Hayek, coming back quickly to Great Britain, isn’t it possible if we pursued your philosophy and theory that we might destroy capitalism there, rather than save it, looking at the analogy of the Italians?

VON HAYEK: No, it is not likely to become worse. The present tendency would destroy capitalism inevitably. I think the important thing is that people are given a chance to change their mind before it is irrevocably destroyed.

SPIVAK: I am sorry to interrupt, but our time is almost up, and we won’t be able to get another question and another answer.
Thank you, Dr. von Hayek, for being with us today on MEET THE PRESS.

Source: Hoover Institution Archives. Papers of J. Herbert Furth, Box 6.

Image Source: Los Angeles Daily News, E-Edition. May 10, 2024. “Friedrich Hayek tried to warn us about the ‘social justice’ left.” Photo credit: AP Photo/Charles Harrity). Note: the date of this Meet the Press photo is incorrectly given as June 23, 1975 (which was a Monday).

Categories
Economic History Harvard

Harvard. Modern European Economic History. Gay, 1906-1907

Edwin Francis Gay

 

Edwin F. Gay was promoted to the rank of professor in 1906 and served as the acting chairman of the Harvard economics department during Thomas Nixon Carver’s leave of absence. He then became the chair of the department in 1907. This was followed by his appointment as the first dean of the newly established Graduate School of Business Administration in 1908.

___________________________

Earlier, related posts

A brief course description for Economics 11 plus the exams from 1902-03.

Exams for 1903-04.

Exams for 1904-05.

Exams for 1905-06.

A short bibliography for “serious students” of economic history assembled by Gay and published in 1910 has also been posted.

________________________

Course Enrollment
1906-07

Economics 11. Professor Gay. — Modern Economic History of Europe.

Total 25: 8 Graduates, 4 Seniors, 4 Juniors, 6 Sophomores, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1906-1907, p. 71.

________________________

ECONOMICS 11
Mid-year Examination, 1906-07

  1. Describe briefly, with reference to England in the sixteenth century:
    1. the position of the Hanseatic merchants.
    2. the policy with regard to shippingthe law and practice as to usury.
  2. [Gilds]
    1. Cunningham says: “It is probable that the powers of the gilds had been so much affected by the legislation of Edward VI. that they had but little influence either for good or evil.”
      What precisely was this legislation? What was the attitude of the Tudor governments to the craft gilds?
    2. He also states that the craft gilds, “before the close of Elizabeth’s reign were reconstituted, or companies which corresponded to them were created anew.… These companies were different in many ways from the craft gilds, even when they were erected upon their ruins.”
      Do Ashley and Unwin agree with this view? What are the facts in regard to the development of gild organization under Elizabeth?
    3. State briefly, as compared with England, the chief points of analogy and difference in Continental gild history.
  3. [Wages and prices]
    1. Criticise the following: “In the sixteenth century, when prices as well as wages were still frequently settled by authority, the competition of the laborers for food would not have such immediate effects on prices as in modern times; the regulation would tend to hasten the entire exhaustion of the supply, rather than to bring about a further rise of price.”
      What was the regulation of prices and wages here mentioned? Do you think it had any appreciable effect on the movement of prices or wages in the sixteenth century?
    2. What in general was the price movement of that period and what caused it? What are the difficulties in comparing the purchasing power of a shilling in 1450, 1550, and 1907.
  4. What were the salient features of the Mercantile System?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1906-07.

________________________

ECONOMICS 11
Year-end Examination, 1906-07

  1. Explain briefly: —

(1) aulnager.
(2) ship-money.
(3) the “vend.”
(4) South Sea Bubble.
(5) contractus trinius.
(6) commenda.

  1. [Mercantile policies]
    1. State the chief provisions and significance of

(a) the Statute of Artificers,
(b) the Navigation Act, and
(c) the Corn Law of 1688.

    1. When was the policy embodied in a and c changed, and under what circumstances?

III. [Company organization]

    1. What were the forms of company organization in England? What change took place in public sentiment regarding them?
    2. Compare the development of mercantile companies in England, France, and Holland.
  1. [Domestic system vs. wage labor system]
    1. Comment on the following: “The distinguishing feature of the capitalist, as contrasted with the domestic, system lies in the fact, that under the former scheme, employers or undertakers own the materials and pay the wages, whereas in the domestic system the workman is his own master; he owns the materials on which he works and sells the product of his labour.”
    2. Give examples from the textile industries of three types of the domestic system.

Take one of the following.

  1. Discuss this statement: “There has been a tendency to associate the great commercial expansion of the seventeenth century with the name of Cromwell…. It is difficult to see that any evidence whatever can be adduced in support of this view, while there is much to be said against it.”
  2. “With a country almost naturally defenceless, engaged by position and religion in conflicts far beyond their real national strength, the Dutch at length became exhausted by the pressure of the taxes they paid.” Is this an adequate explanation of the economic decline of Holland? If not, what is the explanation?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07 (HUC 7000.25), pp. 33-34.

Image Source: Harvard Class Album, 1914. Colorized by Economics in the Rear-view Mirror.

Categories
Chicago Development

Chicago. Economic Development as a special field. Harberger, D. Gale Johnson, Hoselitz. ca. mid-1950s

Arnold Harberger

 

While the following report found in George Stigler’s papers at the University of Chicago archives is undated, it appears to have been written sometime soon after Arnold Harberger’s appointment in 1954. This is consistent with the sections of T. W. Schultz’s memo to the Dean Chancy D. Harris dated 22 September 1955 that deal with Economic Development.

[…]

  1. The broad area of Economic Development requires major attention and it should be placed high on our agenda as we develop plans and staff during the next few years:
    1. This area is needed to serve especially graduate students from foreign countries.
    2. The economic problems are important to the U.S. scene also.
    3. The Research Center for Economic Development and Cultural Change and importantly the “Journal” it has established need to be drawn into this new effort.
    4. Major new research resources are required.

[…]

Some Concrete Steps

[…]

  1. To establish the new enterprise now contemplated in Economic Development about $50,000 a year appears essential.In this area, a professorship, a visiting professor for each of the next several years, complementary staff, student research in a workshop and support for the Journal “Economic Development and Cultural Change.”

Cf. “Salt-water” Development Economics at the time:

Development economics à la M.I.T.
Development economics à la Harvard

________________________

Report to Department of Economics on the Field of Economic Development

                  At its last meeting the Department of Economics discussed the possibility of establishing a special field in Economic Development and the Chairman appointed a Committee to report in preliminary fashion to the Department on this issue.

                  Whether a special new field should be established in the Department depends primarily on practical considerations. Economics, as a discipline, is a unified body of social science and logically the whole area of economic studies can be subdivided only into substantive and methodological and applied fields. However, there exist already in the department a whole series of applied fields, each of which is accepted as a separate specialty for research on the doctoral level. We have labor economics, international economics, agricultural economics, public finance, and others. The question which we may have to answer is whether economic development is a field of applied economics roughly commensurate with these others.

                  A special field in economics becomes established generally when there develops a literature centering around a body of related problems, which have common institutional background. The underlying basic theory is an integral part of general economic theory, but in the course of specialized work a number of theoretical issues come to be discussed in some detail in a given field which tend to attract the interest not so much of general economists but specialists in this field. The question of whether economic development may be regarded as special applied field boils down, therefore, to the question of (1) whether there exists a set of specialized theoretical propositions to which particular emphasis is being given by students interested in (or specializing in) economic development and (2) whether there is an institutional background in terms of which related problems (some of which may be theoretical and abstract and others of which may be practical-empirical) are being studied.

                  It seems to us that both of these conditions hold for economic development as it is being conceived now. Among theoretical contributions which have already been made we may refer to writings of P. T. Bauer and B. S. Yamey, J. Tinbergen, W. A. Lewis, M. Abramovitz, G. M. Meier, P. N. Rosenstein-Rodan, W. W. Rostow, S. Kuznets, A. O.

Hirschman, Colin Clark, H. W. Singer, and others. We do not wish to enter into the discussion of the quality of any or all of these writings, but we believe that, in general competence and quality they are about equal with writings in other fields or economics during the last ten years. Certainly the literature on economic development is large (and if anything, growing) and a number of scholars who have not made the study or economic development a central concern have contributed some articles and papers to the discussion. (Among them are men like J. Viner, T. de Scitovsky, Hollis Chenery, Martin Bronfenbrenner, Henry C. Wallich and others.)

                  In addition to this literature which mainly deals with general or more special theoretical issues in economic development there is a vast and even more rapidly growing literature on the institutional and policy aspects of economic development. Here we are concerned mainly with the analysis of poor countries and we note a mass of problems which are pertinent, many of which go beyond the boundaries of strict economic analysis and reach over into anthropology, political science, or history. It would be futile to mention all the questions that arise in this context but as brief reminder we might suggest that such problems as Kuznets’ and other students’ discussion of historical and cross-national comparisons of patterns of growth (changes in labor force, level of income, rate of investment, etc.) is one big field of study, that questions of the patterns of resource allocation in poor societies is another, and that the problem of the formation of human capital with special reference to poor societies and their capacity of growth is a third. In addition, and especially in view of the manifold efforts to engage in developmental planning in many poor countries, we have a broad field for the analysis of economic policies of various kinds. It seems, therefore, that in terms of theoretical as well as practical, empirical, historical, and policy problems there exists a more or less well recognizable field of interest, that there is an abundant and rapidly growing literature, and that there is wide-awake interest in this field not only in this country, but in many other countries as well.

                  In addition there is considerable interest among the students in economic development. It is granted that many students who express an interest in economic development do so for wrong reasons, but it may be assumed that a large proportion (especially of the foreign students who come from the poor countries), have a genuine interest in studying the problems of poor countries and in acquainting themselves more fully with the institutional and analytical problems characteristic of these countries. It seems that this demand, to the extent to which it justifiably exists, should be recognized by the department and steps should be taken to try to meet it as far as possible.

                  The Department does not now have a regular program on the graduate level in economic development. Whereas in other applied fields, e.g., labor economics or agricultural economics, we have a set of well-designed and well-integrated courses (well-integrated with the offerings in general theory and among one another), we do not have such a program in economic development. This, however, can be remedied and if the Department decides to make economic development a field of its own, commensurate with other fields in the Department, instruction can be arranged to provide the necessary preconditions for research training.

                  In view of the arguments raised earlier, this committee recommends to the Department that economic development should be recognized as a field for the M. A. and the Ph. D. degree in the Department of Economics.

                  We would like to distinguish three possible actions that the department might take with respect to the field of economic development.

1) We can accept it as a field for the distribution requirement.

2) We can accept it as a field of concentration for the Master’s degree

3) We can accept it as a (preliminary examination) field for the Ph. D. degree.

                  We are in favor of taking actions (1) and (2) at the present time, and of deferring until some future date any action on (3). Our motives for this action are the following:

                  We recognize that a body of literature exists in the field of economic development, and that the bulk of economists think of economic development as a “legitimate” field of specialization, and we see no point whatsoever for us to be offering courses in the field (as we now do) and at the same time “snub” the field when it comes to distribution requirements. Hence, we are for action (1).

                  There is considerable interest, particularly among our foreign students, in the field of economic development. There also appears to be at least latent interest among the faculty in offering additional courses in the field, at least if this does not entail a net addition to the teaching load of the individuals in question. We favor expanding our offerings in the field of economic development to the extent that this can be done without jeopardizing the rest of our program. With one course additional to our present offerings, we will be giving our students enough background in the field to warrant our accepting it as a field of concentration for the Master’s degree. Hence, we are for action (2). But if we take action (2) we should make sure that we add at least one course which really covers the core of the economic development literature.

                  The reason for deferring action (3) at the present time is that the courses that we are now offering in the field of economic development have arisen as a result of the special interests of members of our faculty in particular topics in the field and do not reflect any attempt at an organized “coverage” of the field such as we have in other areas. Before taking the step of offering Ph. D. examinations in economic development, we feel we should (a) decide on what we as a department feel should be the scope and general content of a Ph. D. field in economic development, and (b) develop a set of courses, presumably including some which we do not at present give, whose content reflects this decision.

                  It seems to us that the basic decision of the department on the first question should be whether our work in the field of economic development should mainly focus on a critical survey and evaluation of the work that now goes on under the label of economic development, or whether we should aim at having a field of somewhat broader scope. One suggestion for broadening the scope of the field is that we include in it some courses designed more directly than our present offerings to prepare students for the kinds of problems that the bulk of economists in underdeveloped countries in fact have to face, even though such courses would also be listed under present fields as well as economic development.

Arnold Harberger
D. Gale Johnson
Bert F. Hoselitz

Source: University of Chicago Archives. George Stigler Papers, Box 3, Folder “U of C. Econ. Miscellaneous”.

Image Source: Arnold C. Harberger, 1957 Fellowship in Economics from the John Simon Guggenheim Memorial Foundation. Colorized by Economics in the Rear-View Mirror.

Categories
Chicago Courses Curriculum Fields Graduate Student Support

Chicago. Program of advanced instruction and research training in economics. 1956-57.

To gauge the scale and scope of economics departments it is useful to have copies of the annual announcements/brochures. In this post we add a transcription of the announcement for advanced instruction and research in economics at the University of Chicago for 1956-57.

Some previous posts:

Chicago, 1892

Wisconsin, 1893-94

Chicago, 1900-01

Chicago, 1904-05

Wisconsin, 1904-05

M.I.T., 1961

Harvard, 1967

___________________________

THE UNIVERSITY OF CHICAGO
DEPARTMENT OF ECONOMICS
announces
Advanced Instruction
and Research Training
in
ECONOMICS:

Price Theory
Money and Banking
Economic History
Statistics
Econometrics and Mathematical Economics
Agricultural Economics
Government Finance
International Economic Relations and Economic Development
Economics of Consumption
Labor Economics and Industrial Relations

SESSIONS OF 1956-1957

___________________________

DEPARTMENT OF ECONOMICS
Officers of Instruction

Theodore William Schultz, Ph.D., Chairman of the Department of Economics and Charles L. Hutchinson Distinguished Service Professor of Economics.

Frank Hyneman Knight, Ph.D., Morton D. Hull Distinguished Service Professor Emeritus of the Social Sciences.

John Ulric Nef, Ph.D., Professor of Economic History.

Earl J. Hamilton, Ph.D., Professor of Economics.

Milton Friedman, Ph.D., Professor of Economics.

Lloyd A. Metzler, Ph.D., Professor of Economics.

Margaret G. Reid, Ph.D., Professor of Economics.

W. Allen Wallis, A.B., Professor of Economics and Statistics.

D. Gale Johnson, Ph.D., Professor of Economics.

Bert F. Hoselitz, A.M., Dr. Jur., Professor of the Social Sciences.

Hans Theil, Ph.D., Visiting Professor of Economics.

Harold Gregg Lewis, Ph.D., Associate Professor of Economics.

Arnold C. Harberger, Ph.D., Associate Professor of Economics.

Albert E. Rees, Ph.D., Associate Professor of Economics.

Carl Christ, Ph.D., Associate Professor of Economics.

Simon Rottenberg, Ph.D., Associate Professor of Economics.

George S. Tolley, Ph.D., Assistant Professor of Economics.

Robert Lloyd Gustafson, A.M., Assistant Professor of Economics.

Phillip David Cagan, Ph.D., Assistant Professor of Economics.

Martin Jean Bailey, Ph.D., Assistant Professor of Economics.

Chester Whitney Wright, Ph.D., Professor Emeritus of Economics.

Hazel Kyrk, Ph.D., Professor Emeritus of Economics and Home Economics.

Lloyd W. Mints, A.M., Professor Emeritus of Economics.

Mary Barnett Gilson, A.M., Assistant Professor Emeritus of Economics in the College.

Fellows, 1955-56

Richard King, Ph.D., Postdoctoral Fellow in Political Economy.

Yossef Attiyeh, A.M., Falk Foundation Fellow,

Milton Frank Bauer, A.M., Canadian Social Science Research Council Fellow.

John Allan Edwards, A.M., Sears, Roebuck Fellow in Agricultural Economics.

Lawrence Fisher, A.B., Earhart Foundation Fellow.

B. Delworth Gardner, S.M., Sears, Roebuck Fellow in Agricultural Economics.

Hirsh Zvi Griliches, S.M., Social Science Research Council Fellow.

Marc Leon Nerlove, A.M., Earhart Foundation Fellow.

Hugh Oliver Nourse, A.B., Woodrow Wilson Fellow.

Walter Yasuo Oi, A.M., Owen D. Young Fellow.

Boris Peter Pesek, A.M., Ford Foundation Fellow.

Duvvuri Venkata Ramana, A.M., Ford Foundation Fellow.

Jean Reynier, Diplôme D’études Supérieures De Doctorat, University of Paris Exchange Fellow.

Robert Oliver Rogers, A.M., Sears, Roebuck Fellow in Agricultural Economics.

John William Louis Winder, A.M., Edward Hillman Fellow.

___________________________

Introductory

                  The Department of Economics views the central problem of economic science as that of understanding the social organization of human and other scarce productive resources: principally the allocation of these resources among alternative uses by a system of exchange. The purpose of the Department is both to train economic scientists and to advance economic science.

                  The Department offers programs of instruction and research training not only for students seeking an advanced degree in economics at the University of Chicago but also for students working on an advanced degree at another institution who wish to complement the training available to them there and for students not seeking an advanced degree but who wish to pursue advanced study in economics at either the predoctoral or the postdoctoral level. Instruction is provided in all of the major fields of economics affording opportunity for well-rounded training in economics. Additional facilities in other parts of the University, including those in the other social sciences, mathematics, statistics, business administration, law, and philosophy, permit students wide choice among supplementary areas of study.

                  Courses of instruction at three levels of advancement are offered by the Department:

                  1. Intermediate courses (numbered in the 200’s) for those completing their work for the Bachelor’s degree and for others preparing for advanced training in economics.

                  2. Courses in economic theory, statistical inference, economic history, and economic analysis related to problem fields (numbered in the 300’s) that provide the strong theoretical foundation and related applied knowledge required of all candidates for advanced degrees in economics as preparation for economic research. Students are urged before entering these courses to acquire a command of the rudiments of the differential calculus.

                  3. Courses (including seminars, workshops, and other research working groups, and individual instruction) that provide arrangements for research and research supervision (numbered in the 400’s). These courses apply and seek to teach students to apply the foundations of economic analysis to research on particular economic problems.

THE ECONOMICS RESEARCH CENTER

                  The Department devotes a large proportion of its resources to research in economics and to the training of student research apprentices. The purpose of the Economics Research Center is to co-ordinate the research and research training activities of the Department. The Center supplies essential clerical, computing, and reference library services, assists in the organization of research seminars and working groups, and publishes the major research output of the Department in its series: “Studies in Economics.”

                  Some of the research training in the Center is organized on a continuing basis by one or more faculty members working with associates and students in research groups. (The staffs and research projects of these groups for the academic year 1955-56 are listed below.) Research training and facilities for research are available, however, to all qualified students, both those associated with a research group and those engaged in individual research.

Projects and Staffs of Research Groups, 1955-56

Workshop in Money and Banking

Faculty: Professors Cagan and Friedman.

Research Assistants and Fellows: Yossef Attiyeh, Hugh Roy Elliott, Duvvuri V. Ramana, and Robert E. Snyder.

Project: The role of monetary and banking factors in economic fluctuations.

Office of Agricultural Economies Research

Faculty: Professors Gustafson, Johnson, Schultz, and Tolley.

Research Associates: John A. Dawson, Cecil B. Haver, William E. Hendrix, Lester G. Telser, and Joseph Willett.

Research Assistants and Fellows: Marto Ballesteros, Michael Joseph Brennan, Donald S. Green, Hirsh Zvi Griliches, Vaughan Stevens Hastings, Roy J. Kelly, Edward Franklin Renshaw, James A. Rock, and Clifton R. Wharton, Jr.

Projects: (1) Agricultural inventories. (2) Conservation and development of natural resources. (3) Technical assistance in Latin American countries. (4) Developments affecting Negro farm families. (5) Soviet agriculture. (6) Technological growth in agriculture (hybrid corn). (7) Growth in output per unit of input in the United States and in agriculture.

Research Group in Labor Economics and Industrial Relations

Faculty: Professors Lewis, Rees, Rottenberg, and Seidman.

Projects: (1) The American worker as a union member. (2) Labor in the Mexican economy. (3) Real wages in the United States, 1890-1914. (4) Population, the labor force, and labor supply.

Research Group in Public Finance

Faculty: Professors Bailey and Harberger.

Research Assistants and Fellows: Meyer L. Burstein, Lawrence Fisher, Yehuda Grünfeld, Marc Leon Nerlove, William A. Niskanen, Jr., and Walter Y. Oi.

Projects:
(1) Resource allocation effects of federal taxes and of agricultural price supports.
(2) Sources and methods of controlling cyclical instability in the American economy.
(3) The capital market effects of federal taxation, expenditure, and regulatory policies.

Research Group in Economics of Consumption

Faculty: Professor Reid.

Research Assistant: Juliette Rey.

Project: Trends in, and factors determining, consumption levels.

Research Group in Economic Development

Faculty: Professors Hamilton, Harberger, Hoselitz, Rottenberg, and Schultz.

Projects: (1) Problems in the economic development of Chile. (2) Historical research in money, banking, prices, and interest rates, their interrelationship, and their role in the economic development of leading countries. (Note also projects (3), (6), and (7) of the Office of Agricultural Economics Research and project (2) of the Research Group in Labor Economics and Industrial Relations.) The Research Group in Economic Development works closely with the Research Center in Economic Development and Cultural Change of which Mr. Hoselitz is the director. The Center engages in research and publishes the journal Economic Development and Cultural Change.

                  Three members of the faculty of the Department are associated with research groups organized in other parts of the University: Mr. Hoselitz with the Research Center in Economic Development and Cultural Change; Mr. Nef, with the Committee on Social Thought; and Mr. Wallis, with the Committee on Statistics. In addition, other members of the economics faculty are engaged in individual research projects not associated with a research group: Mr. Metzler on the theory of international adjustment under conditions of full employment and high demand: and Mr. Christ on econometric research on economic growth and technological change.

FELLOWSHIPS, SCHOLARSHIPS,
AND RESEARCH ASSISTANTSHIPS

                  Students who wish to pursue a program of advanced instruction and research in economics at the University may compete not only for the regular University Fellowships and Scholarships described in these Announcements (see pp. 22-27) but also for the fellowships listed below:
[Note: The announcement transcribed here is a reprint of the Department of Economics section of the Announcements of Graduate Programs in the Divisions. Cross-references are to that publication]

Postdoctoral Fellowships:

Postdoctoral Fellowship in Political Economy awarded upon recommendation of the Department of Economics.

Postdoctoral Fellowships in Money and Banking awarded by the Workshop in Money and Banking in co-operation with the Department of Economics.

Predoctoral Fellowships:

Awarded upon recommendation of the Department of Economics:

Frank H. Knight Fellowships, Marshall Field Fellowship, Edward Hillman Fellowship Awarded upon recommendation of the Office of Agricultural Economics Research for students specializing in agricultural economics:
Sears, Roebuck Foundation Fellowships in Agricultural Economics

Stipends for the predoctoral fellowships, including the regular University fellowships, range generally from $1,000 to $3,000 per annum. Stipends for the postdoctoral fellowships range up to $4,000 per annum. Application blanks may be obtained from the Department of Economics or from the University Committee on Fellowships and Scholarships.

Research Assistantships

                  Research assistantships and associateships are available to qualified students who have research interests in particular problem areas. Application blanks for these positions may be obtained from the Economics Research Center.

ADVANCED DEGREES

                  The Department of Economics offers programs leading to both the A.M. and the Ph.D. degrees in Economics. The following paragraphs summarize briefly the major Departmental requirements for advanced degrees for students holding a four-year Bachelor’s degree or its equivalent. (The following paragraphs are not intended as an exhaustive statement of the requirements for advanced degrees; for the details of the requirements students should consult with the Departmental counselors.)

THE DEGREE OF MASTER OF ARTS

                  The Departmental requirements for the Master’s degree in Economics for students holding the traditional four-year Bachelor’s degree include: (1) satisfactory performance on two of the written field examinations in economics required for the Ph.D. degree; (2) a satisfactory command of the principles of economic theory; and (3) acceptance of a paper or report on a problem approved by the Department,

THE DEGREE OF DOCTOR OF PHILOSOPHY

                  The Departmental requirements for admission to candidacy for the degree of Doctor of Philosophy in Economics include: (1) satisfactory performance on written field examinations in price theory and monetary theory and banking and in one other field that, with the approval of the Department, may be a field outside of economics; (2) a well-rounded command of the subject-matter of the major fields of economics; (3) effective reading knowledge of French or German or some other foreign language approved by the Department; and (4) acceptance of the candidate’s thesis prospectus.

                  The Departmental requirements for the degree include in addition to the preceding requirements for admission to candidacy: (1) effective reading knowledge of a second foreign language or completion of an approved substitute program of study; (2) departmental approval of the completed thesis; and (3) satisfactory performance on a final oral examination on the field of the thesis.

SUMMER PROGRAM
FOR COLLEGE TEACHERS OF ECONOMICS

                  The Department of Economics will give particular attention in its Summer Quarter 1956 program to the interests of college teachers of economics, both those working for the Ph.D degree at another institution and others who wish to renew or to complement their training and experience in economics. A limited number of tuition and half-tuition scholarships will be available for teachers who do not hold the Ph.D. degree. (Application blanks for these scholarships may be obtained from the Department of Economics.) For those who hold the Ph.D. degree in Economics or related fields the Department invites application for guest privileges.

Courses of Instruction

INTERMEDIATE COURSES

208. A, B, C. The Elements of Economic Analysis. Aut (208A): Rees; Win (208B) Rees; Spr (208C): Cagan.

209. Intermediate Price Theory. Prereg: Math 150A or equiv. Aut: Lewis.

210. Index Numbers, National Accounting, and Economic Measurement. Prereq: Soc Sei 200A and Econ 209, or equiv. Aut: Christ.

213. Introduction to Mathematics for Economists. Prereq: Econ 209 and Math 150A, or equiv. Sum: Staff; Win: Theil.

220. Economic History of the United States. Spr: Hamilton.

240. Introduction to Industrial Relations. Win: Staff.

255. Introduction to Agricultural Economics. Prereq: Econ 208A and 208B, or equiv, Spr: Johnson.

260. Introduction to Government Finance. Prereq: Econ 208A and 208B, or equiv. Win: Bailey.

271. Economic Aspects of International Politics. Aut: Hoselitz.

299. Undergraduate Thesis Research. Prereq: consent of Departmental Secretary. Sum, Aut, Win, Spr: Staff.

ADVANCED COURSES

I. Price Theory

300. A, B. Price Theory. Prereg: For 300A, Econ 209 or equiv, and Math 150A or equiv, or consent of instructor; for 300B, 300A. Aut (300A): Friedman; Win (300A): Wallis; Spr (300B): Friedman.

301. Price and Distribution Theory (= Social Thought 382). Prereq: Econ 209. Sum: Knight.

302. History of Economic Thought (= Social Thought 381). Prereq: Econ 301 or equiv. Spr: Knight.

303. Recent Developments in Economics. Prereg: graduate work in economic theory. Sum: Harberger.

305. Economics and Social Institutions (= Philosophy 305). Prereg: Econ 301 and some European economic history. Sum: Knight.

308. Welfare Economics. Prereq: Econ 300A or equiv. Sum: Johnson.

309. Mathematical Economics. Prereq: Econ 213 and Econ 300A, or equiv. Win: Theil.

310. Special Topics in Mathematical Economics. Prereq: Econ 309, Math 150C, and the rudiments of matrix algebra; or consent of instructor. Spr: Theil.

II. Monetary Theory and Banking

303. Recent Developments in Economics. Prereg: graduate work in economic theory. Sum: Harberger.

330. Money. Prereg: Econ 208C or equiv. Aut: Staff.

331. Banking Theory and Monetary Policy. Prereg: Econ 330; Econ 335 desirable. Win: Cagan.

334. The Development of Monetary and Financial Institutions. Prereq: Econ 222 or 208C. Spr: Hamilton.

335. The Theory of Income, Employment, and the Price Level. Prereg: Econ 208A, B, C or equiv. Spr: Christ.

362. Monetary and Fiscal Policy. Prereg: Econ 208C; Econ 330 and 335 desirable. Spr: Harberger.

370. Monetary Aspects of International Trade. Prereg: Econ 330, 335, or equiv. Aut: Metzler.

439. Workshop in Money and Banking. An experiment in combining training in research and learning of subject-matter organized around a continuing investigation into monetary factors in business cycles. Students participate in this central investigation both directly and by undertaking individual projects in the general area. Each project is directed toward the preparation of a report of publishable quality. Guidance is provided on general reading in the field, and informal seminars are held from time to time to discuss general issues or specific projects. Students. are required to give full time to the workshop; they receive three credits per quarter of registration. Prereg: consent of instructor. Aut, Win, Spr: Friedman, Cagan.

III. Statistics

311. Principles of Statistical Analysis (= Business 321 and Statistics 301). Aut: Staff.

312. Techniques of Statistical Analysis (= Business 322 and Statistics 302). Prereg: Econ 311 or equiv. Win: Staff.

313. Applications of Statistical Analysis (= Sociology 308, Business 323, and Statistics 303). Prereq: Econ 312 or Stat 362 or equiv. Spr: Wallis.

314. Econometrics. Prereq: Econ 311 and either Econ 300A or Econ 335; Econ 210 desirable. Sum: Gustafson; Win: Christ.

315. Special Topics in Econometrics. Prereq: Econ 312, Econ 314, differential calculus, and rudiments of matrix algebra; or consent of instructor. Spr: Christ.

For other courses in statistics see page 203.

IV. Mathematical Economics and Econometrics

303. Recent Developments in Economics. Prereq: graduate work in economic theory. Sum: Harberger.

309. Mathematical Economics. Prereq: Econ 213 and Econ 300A, or equiv, Win: Theil.

310. Special Topics in Mathematical Economics. Prereq: Econ 309, Math 150C and the rudiments of matrix algebra; or consent of instructor. Spr: Theil.

314. Econometrics. Prereq: Econ 311 and either Econ 300A or Econ 335; Econ 210 desirable. Sum: Gustafson; Win: Christ.

315. Special Topics in Econometrics. Prereq: Econ 312, Econ 314, differential calculus, and rudiments of matrix algebra; or consent of instructor. Spr: Christ.

V. Economic History

320. American Economic Policies. Prereg: Econ 220 or equiv. Sum: Hamilton.

329A. The Geographical and Historical Background of the Genesis of Industrial Civilization (= Social Thought 324A and History 332G). Aut: Nef.

329B. The Role of the Discoveries and the Reformation in the Genesis of Industrial Civilization (= Social Thought 325A and History 332H). Spr: Nef.

334. The Development of Monetary and Financial Institutions. Prereg: Econ 222 or 208C. Spr: Hamilton.

VI. Labor Economics and Industrial Relations

340. The Labor Movement. Aut.

341. Labor Problems. Prereq: Econ 208A, 208B, and Econ 240; or equiv. Win: Rees.

344. Labor Economics. Prereq: Econ 300B. Spr: Lewis.

VII. Agricultural Economics

355A. Economic Organization for Growth (with particular reference to agriculture). Prereq: Econ 300A or equiv. Aut: Schultz.

355B. Economic Organization for Stability (with particular reference to agriculture). Prereq: Econ 300A or equiv. Spr: Schultz.

356. Income, Welfare, and Policy (with particular reference to agriculture). Prereg: Econ300A or equiv; Econ 300B and 355A recommended. Win: Johnson.

455. Seminar in Agricultural Economics. Prereq: consent of instructor. Aut, Win, Spr: Schultz, Johnson, Tolley, Gustafson.

VIII. Government Finance

360. Theory of Public Finance. Prereg: Econ 260 and Econ 300A, or consent of instructor, Aut: Bailey.

361. Public Finance in the American Economy. Prereq: Econ 300A; Econ 300B desirable. Win: Harberger.

362. Monetary and Fiscal Policy. Prereg: Econ 208C; Econ 330 and 335 desirable. Spr: Harberger.

IX. International Economic Relations

370. Monetary Aspects of International Trade. Prereq: Econ 330 and 335, or equiv. Aut: Metzler.

371. Economic Aspects of International Relations. Prereq: Econ 330 or equivalent. Win: Metzler.

372. Problems in Economic Development. Prereq: Econ 335 or equivalent, Econ 320 and 371 desirable. Spr: Hoselitz.

X. Economics of Consumption

381. Consumers and the Market (= Home Economics 341), Prereq: course in economic theory. Win: Reid.

383A. Consumption Levels (= Home Economics 343A). Prereq: course in statistics. Aut: Reid.

388. The Family in the American Economy (= Home Economics 348). Prereq: course in economic theory. Sum, Spr: Reid.

XI. Seminars and Workshops

439. Workshop in Money and Banking. Aut, Win, Spr: Friedman, Cagan.

455. Seminar in Agricultural Economics. Aut, Win, Spr: Schultz, Johnson, Tolley, Gustafson.

490. Research in Economics. Prereg: consent of Departmental Secretary, Sum: Staff.

498. Thesis Seminar. Registration may be made for one or more courses. Prereg: consent of Departmental Secretary. Sum, Aut, Win, Spr: Staff.

499. Individual Research. Registration may be made for one or more courses. Prereg: consent of Departmental Secretary. Sum, Aut, Win, Spr: Staff.

Source: University of Chicago Archives. George Stigler papers. Addenda. Box 31, Folder “7/87 Chic. School. GJS Folder. Lit., incl. “Pantaleoni?”, 1930 anti-tariff signers”.

Categories
Bibliography Development Harvard

Harvard. Seminar Bibliography on Economic Development. Mason and Galbraith, 1960-61

Edward S. Mason (left), John K. Galbraith (right)

When John Kenneth Galbraith received a phone call on December 7, 1960 from President-elect John Fitzgerald Kennedy asking him to serve as the U.S. Ambassador to India, he was approaching the end of the first semester of a two semester seminar on problems of economic and political development that he led together with with his colleague, the Dean of the Graduate School of Public Administration, Edward S. Mason. The seminar was a joint production of the Department of Economics and the Graduate School of Public Administration and originally brought on line by Galbraith.

As can be seen in the official staffing/enrollment information given in the Harvard President’s Report for 1960-61, the spring semester was not offered, almost certainly as the result of Galbraith taking a leave of absence beginning in the spring semester. The handwritten date on the seminar bibliography in the Harvard archives is “October 10, 1960”. At that time both Mason and Galbraith would have presumed the seminar would run for both the fall and spring semesters. For this reason, I believe it is reasonable to assume both professors were responsible in some part for the the bibliography as transcribed below. One may also assume  that Gustav Papanek, who later headed Harvard’s Development Advisory Service from 1962-1970, probably also had a hand in drafting the bibliography.

________________________

Course Announcement

Economics 287. Seminar: Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration)

Full course. Tu., 2-4. Professors Mason and Galbraith; Drs. Papanek and Hainsworth; Mr. Bell.

Source: Official Register of Harvard University, Vol. LVII, No. 21 (August 29, 1960), Faculty of Arts and Sciences, Courses of Instruction, 1960-1961. p. 102.

________________________

Staffing and Enrollments
in Economics 287

1952-53

No enrollment figures given for that year.
Not listed in the course announcements

However in Galbraith’s papers one finds a reading list dated 1952-53 along with typed notes for the first meeting of the seminar.

1953-54

[Economics] 287. Seminar on Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professor Galbraith.
Full course.

Fall.

Total 12: 6 [Arts and Sciences] Graduates, 2 Other Graduates, 2 Seniors, 1 Radcliffe, 1 Other.

Spring.

Total 14: 6 [Arts and Sciences] Graduates, 5 Other Graduates, 1 Senior, 1 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1953-54, p. 103.

1954-55

[Economics] 287. Seminar on Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professor Galbraith.
Half course. Fall.

Total 18: 7 [Arts and Sciences] Graduates, 8 Other Graduates, 3 Radcliffe.

Source: Harvard University. Report of the President of Harvard College, 1954-55, p. 94.

1955-56

Not offered

1956-57

[Economics] 287. Seminar on Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professor Galbraith.
Half course. Fall.

Total 14: 5 [Arts and Sciences] Graduates, 7 Other Graduates, 1 Senior, 1 Radcliffe.

Source: Harvard University. Report of the President of Harvard College, 1956-57, p. 73.

1957-58

Economics] 287. Seminar on Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professor Galbraith and others.
Full course.

Fall.

Total 21: 7 [Arts and Sciences] Graduates, 14 Other Graduates.

Spring.

Total 22: 8 [Arts and Sciences] Graduates, 14 Other Graduates.

Source: Harvard University. Report of the President of Harvard College, 1957-58, p. 85.

1958-59

Economics] 287. Seminar on Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professors Galbraith  and Kuznets (Johns Hopkins University); Drs. Hainsworth, A. J. Meyer and Papanek; Mr. Bell.
Full course.

Fall.

Total 33: 5 [Arts and Sciences] Graduates, 24 Other Graduates, 1 Senior, 3 Radcliffe.

Spring.

Total 36: 6 [Arts and Sciences] Graduates, 25 Other Graduates, 2 Seniors, 2 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1958-59, p. 74.

1959-60

Economics] 287. Seminar: Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professors Mason and Galbraith, Drs. A. J. Meyer, Papanek and Mr. Bell.
Full course.

Fall.

Total 23: 6 [Arts and Sciences] Graduates, 13 Other Graduates, 1 Senior, 1 Radcliffe, 2 Others.

Spring.

Total 23: 6 [Arts and Sciences] Graduates, 12 Other Graduates, 1 Seniors, 2 Radcliffe, 2 Other.

Source: Harvard University. Report of the President of Harvard College, 1959-60, p. 86.

1960-61

[Economics] 287. Problems of Economic and Political Development (Offered jointly with the Graduate School of Public Administration). Professor Mason; Drs. Papanek and Hainsworth.
Half course. Fall.

Total 28: 12 [Arts and Sciences] Graduates, 14 Other Graduates, 1 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1960-1961, p. 80.

________________________

ECONOMICS 287
SELECTED BIBLIOGRAPHY ON ECONOMIC DEVELOPMENT
[21 October 1960]

The following bibliography is a selected list of books and articles intended to cover most of the major theoretical and empirical studies concerned with economic growth in underdeveloped areas, that have been published in recent years. No attempt has been made to include (a) major work in the historical evolution of economic thought (Smith, Ricardo, Marx, Schumpeter, etc.); (b) modern theoretical work on economic growth in advanced countries (Harrod, Domar, Fellner, Duesenberry, etc.); or (c) empirical work dealing with the growth of the advanced countries — all of which may be very useful in the attempt to understand the problems of underdeveloped countries and what can be done to assist their economic progress.

The purpose was to produce a short list. Necessarily, many interesting and useful items have been omitted. No major contributions have been omitted intentionally, however, and the users of the bibliography are requested to bring such omissions to the notice of those in charge of the seminar.

The principle of selection has been indicated above. The limits of coverage were set largely in accord with the practice of the Seminar on Economic Development. That is, the focus is primarily on economic issues, with the word “economic” interpreted fairly broadly. In addition, some attention is given to political, social, and cultural matters insofar as they are directly related to economic development. This gives a coverage which overlaps to some extent the fields of government, sociology, and anthropology, and perhaps other disciplines. It might be well to make clear that this bibliography is not intended to cover the works in those other disciplines which are concerned with social, political, and cultural change as such, but only the relationships of such types of change to economic development.

All suggestions for improvement will be welcome.

________________________

CONTENTS
  1. Selected Bibliography on Economic Development
    1. General
      1. Primarily Theoretical
      2. Primarily Historical and Descriptive
    2. Planning
      1. Primarily Theoretical
      2. Primarily Descriptive
    3. Mobilization of Resources
      1. Domestic Resources
      2. Foreign Private Investment
      3. Foreign Public Grants and Loans
    4. International Trade
    5. Land and Agriculture
    6. Labor
    7. Entrepreneurship
    8. Population
    9. Measurement of National Income
    10. Political, Social, and Cultural Factors in Economic Development
  2. Other Bibliographies
  3. Some Major Compilations of Statistical Information

________________________

  1. SELECTED BIBLIOGRAPHY ON ECONOMIC DEVELOPMENT
    1. GENERAL
      1. Primarily Theoretical

Baran, Paul, “On the Political Economy of Backwardness,” The Manchester School, January 1950.

Bauer, P. T., Economic Analysis and Policy in Underdeveloped Countries, (Durham, N.C.: Duke University Press, 1957).

Borts, G. H., “Returns Equalization and Regional Growth,” American Economic Review, June 1960.

Burtle, J., “Parametric Maps of Different Types of Economic Development,” Review of Economics and Statistics, February 1960.

Dupriez, L. H. (ed.), Economic Progress, (Papers by Kuznets, Cairncross, and others), (Louvain: 1955).

Hagen, E. E., “How Economic Growth Begins: A General Theory Applied to Japan,” Public Opinion Quarterly, Fall 1958.

Higgins, Benjamin, Economic Development, (New York: Norton, 1959).

Hirschman, Albert O. The Strategy of Economic Development, (New Haven: Yale University Press, 1958).

Leibenstein, Harvey, Economic Backwardness and Economic Growth, (New York: John Wiley and Sons, 1957).

Lewis, W. Arthur, The Theory of Economic Growth, (Homewood, Illinois: Richard D. Irwin, Inc., 1955).

Mason, E. S., Economic Planning in Underdeveloped Areas: Government and Business, (New York: Fordham University Press, 1958).

Myint, H., “An Interpretation of Economic Backwardness,” Oxford Economic Papers, June 1954.

Myrdal, Gunnar, An International Economy, (New York: Harpers, 1957).

North, Douglass G., “A Note on Professor Rostow’s ‘Take-off’ into Self-Sustained Economic Growth,” The Manchester School, January 1958.

Nurkse, Ragnar, Problems of Capital Formation in Underdeveloped Countries, (New York: Oxford University Press, 1953).

Oshima, H. T., “Underemployment in Backward Economies: An Empirical Comment,” Journal of Political Economy, June 1958.

Oshima, H. T., “Economic Growth and the ‘Critical Minimum Effort’,” Economic Development and Cultural Change, July 1959.

Rao, V.K.R.V., “Investment, Income and the Multiplier in an Underdeveloped Economy,” Indian Economic Review, February 1952.

Rosenstein-Rodan, P., “Problems of Industrialization of Eastern and South-Eastern Europe,” Economic Journal, June-September 1943.

Rostow, W. W., “The Take-Off into Self-Sustained Growth,” Economic Journal, March 1956.

Scitovsky, T., “Two Concepts of External Economies,” Journal of Political Economy, April 1954.

Sheahan, John, “International Specialization and the Concept of Balanced Growth,” Quarterly Journal of Economics, May 1958.

Singer, H. W., “The Mechanics of Economic Development, A Quantitative Model Approach,” Indian Economic Review, August 1952.

Solow, R., “A Contribution to the Theory of Economic Growth,” Quarterly Journal of Economics, February 1956.

Stockfisch, J. A., “External Economies, Investment and Foresight,” Journal of Political Economy, October 1955.

Swan, T. W., “Economic Growth and Capital Accumulation,” Economic Record, November 1956.

Tinbergen, J., International Economic Integration, (Amsterdam: Elsevier, 1954).

U. N. — Processes and Problems of Industrialization in Under-Developed Countries, (New York: 1955).

Villard, H. H., Economic Development. (New York: Rinehart, 1959).

Young, Allyn, “Increasing Returns and Economic Progress,” Economic Journal, December 1928.

      1. Primarily Historical and Descriptive

Abramovitz, Moses, Resource and Output Trends in the United States Since 1870, (National Bureau of Economic Research, Inc.: Occasional Paper 52, 1956).

Bergson, A., Soviet Economic Growth: Conditions and Perspectives, (Evanston, Ill.: Row, Peterson, 1953).

Boeke, Julius H., Economics and Economic Policy of Dual Societies as Exemplified by Indonesia, (New York: International Secretariat, Institute of Pacific Relations, 1953).

Felix, David, “Profit Inflation and Industrial Growth. The Historic Record and Contemporary Analogue,” Quarterly Journal of Economics, August 1956.

Gerschenkron, Alexander, “Economic Backwardness in Historical Perspective,” Hoselitz, Bert (ed.), The Progress of Underdeveloped Areas, (Chicago: University of Chicago Press, 1952).

Griliches, Z., “Research Costs and Social Returns: Hybrid Corn and Related Innovations,” Journal of Political Economy, October 1958.

Hagen, Everett B., The Economic Development of Burma, (Washington: National Planning Association, 1956).

Higgins, B., Indonesia’s Economic Stabilization and Development, (New York: Institute of Pacific Relations, 1957).

Hoeffding, Oleg, “Soviet State Planning and Forced Industrialization as a Model for Asia,” (RAND Corporation, August 1958).

Houthakker, H. S., “An International Comparison of Household Expenditure Patterns,” Econometrica, October 1957.

International Bank for Reconstruction and Development, The Economic Development of Mexico, (Baltimore: Johns Hopkins Press, 1953).

Kuznets, Simon, “Underdeveloped Countries and the Pre-Industrial Phase in the Advanced Countries: An Attempt at Comparison,” Proceedings of the World Population Conference, 1954, (Papers, Volume V, United Nations, New York).

Kuznets, Simon, “Toward a Theory of Economic Growth,” in Lekachman (ed.), National Policy for Economic Welfare at Home and Abroad, (Garden City, N.Y.: Doubleday, 1955).

Kuznets, Simon, “Economic Growth and Income Inequality,” American Economic Review, March 1955.

Kuznets, Simon, Six Lectures on Economic Growth, (Glencoe, Ill.: Free Press, 1959).

Kuznets, Simon, “Quantitative Aspects of the Economic Growth of Nations,” Economic Development and Cultural Change: “I. Levels and Variability of Rates of Growth,” October 1956; “II. Industrial Distribution of National Product and Labor Force,” July 1957; “III. Industrial Distribution of Income and Labor Force by States, United States, 1919-21 to 1955,” July 1958; “IV. Distribution of National Income by Factor Shares,” April 1959; “V. Capital Formation Proportions: International Comparisons for Recent Years,” July 1960.

Li, Choh Ming, Economic Development of Communist China, (Berkeley and Los Angeles: University of California Press, 1959).

Lockwood, W. W., The Economic Development of Japan: Growth, and Structural Change, 1868-1938, (Princeton: Princeton University Press, 1954).

Malenbaum, Wilfred, “India and China: Contrasts in Development,” American Economic Review, June 1959.

Ranis, Gustav, “Factor Proportions in Japanese Economic Development,” American Economic Review, September 1957.

Reubens, E. P., “Opportunities, Governments, and Economic Development in Manchuria, 1860-1940,” in H.G.J. Aitken (ed.), The State and Economic Growth, (New York: Social Science Research Council, 1959).

Rostow, W. W., The Stages of Economic Growth, (Cambridge University Press, 1960).

“The Satellites in Eastern Europe,” Annals of the American Academy of Political and Social Sciences, May 1958.

Schultz, T. W. “Capital Formation by Education,” to be published in the Journal of Political Economy, December 1960.

Solomon, Morton, “The Structure of the Market in Underdeveloped Economies,” in Shannon, Lyle W. (ed.), Underdeveloped Areas: a Book of Readings and Research, (New York: Harper, 1957).

Solow, R., “Technical Change and The Aggregate Production Function,” Review of Economics and Statistics, August 1957.

Thompson, C. H. and Woodraff, H. W., Economic Development in Rhodesia and Nyasaland, (London: Dennis Dobson, 1955).

U.N. — Economic Survey of Africa since 1950, (New York: 1959).

U.N. — Structure and Growth of Selected African Economies, (New York: 1957).

Zinkin, M., Development for Free Asia, (Fairlawn, New Jersey: Essential Books, Inc., 1956).

    1. PLANNING
      1. Primarily Theoretical

Bator, F. F., “On Capital Productivity, Input Allocation, and Growth,” Quarterly Journal of Economics, February 1957.

Chenery, H. B., “The Application of Investment Criteria,” Quarterly Journal of Economics, February 1953.

Chenery, H. B., “Development Policies and Programmes,” Economic Bulletin for Latin America, March 1958.

Chenery, H. B., “The Interdependence of Investment Decisions,” in The Allocation of Economic Resources, Essays in Honor of B. F. Haley, (Stanford University Press, 1959).

Dobb, M., Economic Growth and Planning. (New York: Monthly Review Press, 1960).

Eckaus, R. S., “The Factor Proportions Problem in Underdeveloped Areas,” American Economic Review, September 1955.

Eckstein, O., “Investment Criteria for Economic Development and the Theory of Intertemporal Welfare Economics,” Quarterly Journal of Economics, February 1957.

Galenson, W. and Leibenstein, H., “Investment Criteria, Productivity and Economic Development,” Quarterly Journal of Economics, August 1955.

Lewis, W. A., The Principles of Economic Planning, (London: Dennis Dobson, 1952).

Lewis, W. A., “On Assessing a Development Plan,” The Economic Bulletin, (Ghana) June-July 1959.

Muranjam, S. K., “The Tools of Planning,” Indian Economic Journal, January 1957.

Sen, A. K., “Some Notes on the Choice of Capital-Intensity in Development Planning,” Quarterly Journal of Economics, November 1957.

Sen, A. K., “Choice of Capital Intensity Further Considered,” Quarterly Journal of Economics, August 1959.

Tinbergen, J., “The Optimum Rate of Saving,” Economic Journal, December 1956.

Tinbergen, J., The Design of Development, (Baltimore: Johns Hopkins Press, 1958).

Tinbergen, J., Optimum Savings and Utility Maximization Over Time,” Econometrica, April 1960.

U. S. Department of State, Office of Intelligence Research, “Use of the Capital-Output Ratio in Programming and Analyzing Economic Development,” February 1956.

      1. Primarily Descriptive

Aubrey, Henry, “Small Industry in Economic Development,” Social Research, September 1951.

Baer, Werner, “Puerto Rico: An Evaluation of a Successful Development Program,” Quarterly Journal of Economics, November 1959.

Bicanic, Rudolph, “Economic Growth Under Centralized and Decentralized Planning — A Case Study,” Economic Development and Cultural Change, October 1957.

Gadgil, D. R., “Prospects for the Second Five-Year Plan Period,” India Quarterly, Vol. XIII, (January-March 1957), p. 5.

Government of Ceylon, National Planning Council, Papers by Visiting Economists, (Colombo: 1959).

Hsia, R., Economic Planning in Communist China, (New York: International Secretariat, Institute of Pacific Relations, 1955).

Government of India, Planning Commission, “Memorandum of the Panel of Economists and Note of Dissent by Prof. B. R. Shenoy,” and “The Plan Frame,” Papers Relating to the Formulation of the Second Five Year Plan, (Delhi: 1955).

Government of India, Planning Commission, “Development of the Economy,” and “Approach to the Second Five Year Plan,” Second Five Year Plan, (Delhi: 1956).

Komiya, R., “A Note on Professor Mahalanobis’ Model of Indian Economic Planning, Review of Economics and Statistics, February 1959.

Government of Pakistan, National Planning Board, “Planning the Development Programme,” and “Putting the Development Programme into Operation,” First Five Year Plan, 1955-60, (Karachi: Government of Pakistan, 1957).

    1. MOBILIZATION OF RESOURCES
      1. Domestic Resources

Bernstein, E. M. and Patel, I. G., Inflation in Relation to Economic Development (International Monetary Fund, 1952).

Bloomfield, Arthur I., “Monetary Policy in Underdeveloped Countries,” Public Policy, Vol. VII, (Cambridge, Mass.: Graduate School Public Administration, 1956).

Bronfenbrenner, M., “The Appeal of Confiscation in Economic Development,” Economic Development and Cultural Change, April 1955.

Diamond, W., Development Banks, (Baltimore: Johns Hopkins, 1957).

Froomkin, Joseph, “A Program for Taxation and Economic Development — The Indian Case,” (Review article of Report of Indian Taxation Enquiry Commission, 1953-54), Economic Development and Cultural Change, January 1958.

Government of India, Planning Commission, “Finance and Foreign Exchange,” Second Five Year Plan, (Delhi: 1956).

Kaldor, Nicholas, Indian Tax Reform: Report of a Survey, (New Delhi: Indian Ministry of Finance, 1956).

Lewis, W. A., “Economic Development with Unlimited Supplies of Labour,” The Manchester School, May 1954.

Martin, A. M. and Lewis, W. A., “Patterns of Public Revenue and Expenditure,” The Manchester School, September 1956.

Oshima, H. T., “Share of Government in Gross National Product for Various Countries,” American Economic Review, June 1957.

Government of Pakistan, National Planning Board, “Internal Financial Resources,” and “Public Savings,” First Five Year Plan, 1955-60, (Karachi: 1957).

Sturmthal, Adolph, “Economic Development, Income Distribution, and Capital Formation in Mexico,” Journal of Political Economy, June 1955.

Wald, H. P., Taxation of Agricultural Land in Underdeveloped Economies, (Cambridge, Mass.: Harvard University Press, 1959).

      1. Foreign Private Investment

Finnie, David H., Desert Enterprise: The Middle East Oil Industry in its Local Environment, (Cambridge, Mass.: Harvard University Press, 1958).

Mikesell, Raymond F., Promoting U. S. Private Investment Abroad, (Washington: National Planning Association, 1957).

Wolf, Charles and Sufrin, Sidney, Capital Formation and Foreign Investment in Underdeveloped Areas, (Syracuse: Syracuse University Press, 1955).

      1. Foreign Public Grants and Loans

The American Assembly, International Stability and Progress: United States Interests and Instruments, (New York: Graduate School of Business, Columbia University, 1957).

Cairncross, Alec, The International Bank for Reconstruction and Development, (Princeton University Essays in International Finance, No. 33, March 1959).

Friedman, Milton, “Foreign Economic Aid,” Yale Review. Summer 1958.

Millikan, Max F. and Rostow, W. W., A Proposal, Key to an Effective Foreign Policy, (New York: Harper Bros., 1957).

Report of The President’s Committee to Study the United States Military Assistance Program, (Washington: August 17, 1959).

Sapir, M., The New Role of the Soviets in the World Economy, (New York: Committee for Economic Development, 1958).

Wolf, C., Foreign Aid: Theory and Practice in Southern Asia, (Princeton: Princeton University Press, 1960).

    1. INTERNATIONAL TRADE

Bauer, Peter T., West African Trade, (Cambridge: Cambridge University Press, 1954).

Haberler, G., Campos, R., Meade, J., and Tinbergen, J., Trends in International Trade, (Geneva: General Agreement on Tariffs and Trade, 1958).

Haberler, G., International Trade and Economic Development, (Cairo: National, Bank of Egypt, 1959).

Mikesell, R. F., Foreign Exchange in the Postwar World, (New York: Twentieth Century Fund, 1954).

Myint, H., “The Classical Theory of International Trade and the Underdeveloped Countries,” Economic Journal, June 1958.

Nurkse, R., et. al, “The Quest for a Stabilization Policy in Primary Producing Countries: A Symposium,” Kyklos, 1958

Nurkse, R., Patterns of Trade and Development, (Stockholm: Almqvist and Wiksell, 1959).

U. N. — Instability in Export Markets of Underdeveloped Countries, (New York: 1952).

    1. LAND AND AGRICULTURE

Baldwin, K. D. S., The Niger Agricultural Project, (Cambridge: Harvard University Press, 1957).

Black, John D. and Stewart, H. L., Economics of Agriculture for India, (Delhi: Government of India, 1954).

Darling, Malcolm L., The Punjab Peasant in Prosperity and Debt (New York: Oxford University Press, 1925).

Gaitskell, Arthur, Gezira. A Story of Development in the Sudan, (London: Faber and Faber, 1959).

Johnston, Bruce, The Staple Food Economies of Western Tropical Africa, (Stanford University Press, 1958).

Mellor, John W. and Stevens, Robert D., “The Average and Marginal Product of Farm Labor in Underdeveloped Economies,” Journal of Farm Economics, August 1956.

Neale, Walter C., “The Limitations of Indian Village Survey Data,” Journal of Asian Studies, May 1958.

U. N. — “Productivity of Labour and Land in Latin American Agriculture,” Economic Survey of Latin America, 1956.

U. N. — Food and Agriculture Organization, Uses of Agricultural Surpluses to Finance Economic Development, (Rome: 1955).

Warriner, Doreen, Land Reform and Economic Development in the Middle East, (London: 1957).

Wickizer, V. D. and Bennett, M. K., The Rice Economy of Monsoon Asia, (Stanford University Press, 1941).

    1. LABOR

de Buey, P., “The Productivity of African Labour,” International Labour Review, August-September 1955.

Galenson, W. (ed.), Labor and Economic Development, (New York: Wiley, 1959).

Husain, A. F. A., Human and Social Impact of Technological Change in Pakistan, Vol. 1, (Pakistan: Oxford University Press, 1956).

Kerr, C., Dunlop, J. T., Harbison, F. C., Myers, C. A., Industrialism and Industrial Man, (Cambridge: Harvard University Press, 1960).

Moore, Wilbert Ellis, Industrialization and Labor, (Ithaca: Cornell University Press, 1952).

Sayigh, Yusif A., “Management-Labour Relations in Selected Arab Countries: Major Aspects and Determinants,” International Labour Review, June 1958.

Myers, Charles, Problems of Labor in the Industrialization of India, (Cambridge: Harvard University Press, 1958).

    1. ENTREPRENEURSHIP

Aubrey, Henry G., “Industrial Investment Decisions: A Comparative Analysis,” Journal of Economic History, December 1955.

Eckstein, Alexander, “Individualism and the Role of the State in Economic Growth,” Economic Development and Cultural Change, January 1958.

Harbison, Frederick, “Entrepreneurial Organization as a Factor in Economic Development,” Quarterly Journal of Economics, August 1956.

Prakesh, O., “Industrial Development Corporations in India and Pakistan,” Economic Journal, March 1957.

UNESCO, “Economic Motivations and Stimulations in Underdeveloped Countries,” International Social Science Bulletin, Vol. VI, No. 3, 1954.

    1. POPULATION

Coale, A. and Hoover, E. M., Population Growth and Economic Development in Low-income Countries, (Princeton: Princeton University Press, 1958).

Hagen, E. E., “Population and Economic Growth,” American Economic Review, June 1959.

Taeuber, Irene, The Population of Japan, (Princeton: 1958).

U. N. — Department of Social Affairs, The Determinants and Consequences of Population Trends, (New York: 1953).

U. N. — Technical Assistance Administration, Asia and the Far East: Seminar on Population, (New York: 1957).

    1. MEASUREMENT OF NATIONAL INCOME

Abramovitz, M., “The Welfare Interpretation of Secular Trends in National Income and Product,” in The Allocation of Economic Resources, Essays in Honor of B. F. Haley, (Stanford University Press, 1959).

Deane, Phyllis, Colonial Social Accounting, (Cambridge University Press, 1953).

Goldsmith, Raymond and Saunders, Christopher, (ed.), “The Measurement of National Wealth,” Income and Wealth Series VIII, (London: Bowes and Bowes, 1959).

Income and Wealth: Series III, (International Association for Research in Income and Wealth), (Cambridge: Bowes and Bowes, 1953), especially contributions by Frankel, Benham, Rao, and Creamer.

Kravis, I. B., “The Scope of Economic Activity in International Income Comparisons,” in Problems in the International Comparison of Economic Accounts, Studies in Income and Wealth, Vol. 20, (Princeton University Press, 1957).

Kuznets, Simon, Economic Change, (New York: Norton, 1953).

    1. POLITICAL, SOCIAL, AND CULTURAL FACTORS IN ECONOMIC DEVELOPMENT

Almond, Gabriel A. and Coleman, James S., The Politics of the Developing Areas, (Princeton University Press, 1960).

Banfield, E. C., The Moral Basis of a Backward Society, (Glencoe, Ill.: Free Press, 1958).

Baster, Janes, “Development and the Free Economy — Some Typical Dilemmas,” Kyklos, Vol. VII, 1954.

Brzezinski, Zbigniew, “The Politics of Underdevelopment,” World Politics, October 1956.

Dike, K. O., Trade and Polities in the Niger Delta, (Oxford: 1956).

Dube, S. C., India’s Changing Villages, (Ithaca, N. Y.: Cornell University Press, 1958).

Farmanfarmaian, Khodadad, “Social Change and Economic Behavior in Iran,” Explorations in Entrepreneurial History, February 1957.

Hoselitz, Bert F. (ed.), The Progress of Underdeveloped Areas, (University of Chicago Press, 1952).

McClelland, David C., “Some Social Consequences of Achievement Motivation,” in Nebraska Symposium on Motivation, (University of Nebraska Press, 1955).

McKitterick, T. E. M., “Politics and Economics in the Middle East,” The Political Quarterly, January-March 1955.

Oliver, Henry M., Economic Opinion and Policy in Ceylon, (Durham: Duke University Press, 1957).

Shea, T. W., “Barriers to Economic Development in Traditional Societies: Malabar, A Case Study,” Journal of Economic History, December 1959.

Singer, Milton, “Cultural Values in India’s Economic Development,” Annals of the American Academy of Political and Social Sciences, May 1956.

U. N. — “Three Sociological Aspects of Economic Development,” Economic Review of Latin America, 1955.

Weiner, M., “Changing Patterns of Political Leadership in West Bengal,” Pacific Affairs, September 1959.

  1. OTHER BIBLIOGRAPHIES

Hald, Marjorie, A Selected Bibliography on Economic Development and Foreign Aid, (Santa Monica, California: RAND Corporation, 1957).

Hazelwood, Arthur, The Economies of ‘Under-Developed’ Areas, (London: Oxford University Press, second edition, 1959).

Trager, Frank N. “A Selected and Annotated Bibliography on Economic Development, 1953-57,” Economic Development and Cultural Change, July 1958.

  1. SOME MAJOR COMPILATIONS OF STATISTICAL INFORMATION

U. K. Government, Board of Trade, Overseas Economic Surveys.

International Monetary Fund, International Financial Statistics.

International Labour Office, International Labour Review — Statistical Supplement.

United Nations, Statistical Office, Statistical Papers (various series).

United Nations, Statistical Office, Statistical Yearbook.

United Nations, Statistical Office, Demographic Yearbook.

United Nations, Department of Economic and Social Affairs, Public Finance Information Papers.

United Nations, Department of Economic and Social Affairs, Economic Surveys (for various regions).

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003.Box 8, Folder “Economics 1960-61 (2 of 2)”.

Images: Portrait of Edward S. Mason (ca. 1960) from the Harry S. Truman Library. Portrait of John Kenneth Galbraith from the Harvard Class Album 1959.

 

Categories
Libertarianism

Freedom School. First Newsletter. January, 1964

Robert LeFevre’s Freedom School in the late 1950’s through the 1960’s offered two kinds of libertarian agit-prop courses at its log-cabin campus located in the Rampart Range of the Rocky Mountains in Colorado: a two week comprehensive course and shorter intensive courses designed for business executives interested in the fundamentals of libertarian philosophy, politics, and economics. The 1962 Prospectus for the Freedom School was posted earlier.

An academic upgrade was introduced for the 1963-64 academic year, named the Phrontistery [“a thinking place”]. The goal was to have a two semester course organized around a series of invited distinguished lecturers that included Ludwig von Mises, Milton Friedman, Gordon Tullock, and Warren Nutter.

Fun fact: the main house of Milton and Rose Friedman’s “Capitaf” was designed using the plans for the hexagonal Falcon’s Lair building at the Freedom School provided to them by Robert LeFevre.

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The Freedom School is an educational institution offering short courses of instruction in the field of economics, philosophy, ethics, history and political science. Special sessions each year are reserved for executives and those making managerial decisions in business and the professions. Eight two-week comprehensive courses are offered to adults each summer from June through September. Special Workshop and library facilities are available for graduates.

                  Write for informational folder.

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To Our Readers…

With this issue of the Newsletter, the Freedom School initiates a new monthly publication, designed to keep you informed on news of the Freedom School. It will bring you information about additions to the staff, faculty and trustees, as well as plans for the progress of the School — in its summer sessions and in its development of Rampart College.

The Newsletter will give you information on our graduates  – what they are doing and how they are communicating the philosophy of freedom.

This publication is for you  – we want you to read it, we want it to be interesting to you and, therefore, we want to hear about it from you. We want to know what interests YOU particularly, what features we can incorporate into the Newsletter that will give you and the School an instrument of mutual communication.

Please don’t hesitate – give us your opinion of the Newsletter: good, bad or indifferent.

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Texas Biochemist Discusses “Equality

Professor Roger J. Williams

No man is the equal of any other man in the view of a leading biochemist from the University of Texas who spoke at the Freedom School Phrontistery last November.

He is Dr. Roger J. Williams, who has been the director of the Clayton Foundation Biochemical Institute at the University since 1941.

The professor has spent a life-time studying, teaching and researching bio-chemistry, and has pioneered in thought and research on the human side of the problem.

In his studies, the professor has concluded that biochemically and every other way every human is different, even though all may look alike superficially. He explained in his lectures how each person is different anatomically, neurologically, endocrinologically, biochemically, and psychologically.

The professor has been a trail-blazer in his field, and is the discoverer of pantothenic acid (one of the B vitamins) which is required in the machinery of all oxygen-using organisms.

He also did pioneer work on folic acid, and named it. It is another B vitamin that is used in the treatment of anemias. At the Clayton Institute, more vitamins have been discovered than in any other laboratory in the world.

The professor was the first biochemist to be elected president of the American Chemical Society, which now has about 100,000 members, and has received the Mead Johnson award of the American Institute of Nutrition.

Williams is a firm believer in the individuality of each person and his belief is backed up with facts acquired during his long career in biochemistry.

He is a living example of his own theory, having a great interest in literature as well as in his chosen field of study, and he maintains a parallel interest in people. Williams is the kind of man who can say with a twinkle in his eye, “The proof of the pudding is in the eating and in the subsequent metabolic effects,” and mean what he says.

A little key to what the professor is talking about is found in his book, “Nutrition in a Nutshell”, which tells a reader more about his own nutritional problems than he probably knew before — facts he ought to know — and he does it in words that we can understand. In the book Williams points out that each individual has his own nutritional problems.

Two other books by Williams may be time bombs planted in the field of social sciences. They are “The Human Frontier” and “Free and Unequal”, which discusses the biological basis of individual liberty.

What Williams has learned in a life-time of study and reflection about people and each man’s individuality was discussed by him under the theme, “The basis of our love of liberty is biological.”

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Tullock Tells of New Approach to Politico-Economic Study

Professor Gordon Tullock

Dr. Gordon Tullock, associate professor, Thomas Jefferson Center for Studies in Political Economy, University of Virginia, was the second visiting professor to lecture at the Freedom School Phrontistery.

The professor is one of a small group of men in America, numbering about 30, who set about studying political science in a different way.

“We are trying to apply a logical, scientific approach to the political phenomena in an effort to improve our knowledge of politics,” is the way Tullock explains why these few are interested in approaching the study of politics from an unconventional view.

He passed on some of his theories on that subject to Freedom School Phrontistery enrollees in his two series of lectures last November. The two topics were, “Property Institutions” and “Modern Political Theory”.

In the new approach to political science, Tullock attempted to apply the classic economic theories to politics. He hastened to point out that he and fellow theorists are not another group of economic determinists.

Rather, he explained, he and his confreres are applying economics to the study of politics as the pioneer political geographers applied geography to the study of politics.

Tullock added that the studies have no particular relevance to the specific political activities that are going on now and will increase later this year.

“Some people think that a professor of economics ought to be able to make a fortune in the stock market, but this is not necessarily so. That is the case with us. We are studying politics, but are not necessarily able to make predictions on any campaign,” Tullock said.

Tullock was graduated from the University of Chicago in 1947 with a degree in law, after having earned his bachelor’s degree there during prior study.

Shortly after his graduation he went to work in a law office in Chicago, and was given a chance to enter foreign service. In 1948 he was on duty in Tientsin, China. He was there for two years, including a year under the communists. He also served in Hong Kong and Korea and did post-doctoral studies in Chinese at Yale and Cornell Universities before he resigned from the service in 1955 to enter the academic world.

He now claims to have found the field of study which intrigues him most. He says there is plenty to keep him busy in his area of economics-political science.

Tullock knows there is lots of hard work ahead. “I’m an optimist and a crusader,” he explained. He and his fellow students in the field intend to push toward their goals as far as they can in one generation.

“We have a genuine theory of politics. We think ours is a more sensible view of politics,” he explained. The immediate goal of his studies is to learn more about how politics works and to determine these facts through scientific investigation.

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Freedom School Growth Measured
in Land, Construction, Students

During the calendar year 1963, the Freedom School’s growth has been such as to amaze the early graduates of the School. In March, 206 acres of rolling meadow-land were added to the 320 acres that originally comprised the campus. This land adjoins the eastern boundaries of the School, and provides a mile of road frontage along Perry Park Road, Colorado Highway 105. This land will probably play a major role in the location and development of Rampart College.

Also in 1963 a new building was completed. Although construction was started in the fall of 1962, the building was not ready for occupancy until February. The major part of this building (called Falcon Lair) is hexagonal in shape, built of logs, and the focal point is a huge hexagonal stone fireplace in the center of a large room which serves as a combination living room-lounge, in which students can relax and where informal entertainment and discussion take place.

Also within the “hex” is a modern kitchen and other facilities. Attached to the “hex” and also built of logs is a rectangular building containing living accommodations for the president and his wife. A wide, open porch extends from the north and east sides of the building.

Other improvements include a general remodeling of Falconwood Lodge, the main building which housed the first classroom and the kitchen and dining room. The kitchen has been doubled in size — with commercial equipment added, making it possible to maintain the same high standard of food preparation and service the School has featured. The new, modern, attractive and comfortable dining room, which can seat 50, has new tables, chairs and lighting.

Below the dining room, the “Bunkhouse” which has, during the life of the School, served as student quarters and office space, is now a recreation room for students. Soft drink, coffee and hot chocolate machines have been added, along with a “Skittles” game and a regulation size pool table, making it a convenient place for students to relax and play various games.

Carpeting has been added to the living quarters in Reno Sales Lodge and to the two cabins that house four students each — Deer Haven and Tall Pines — resulting in more comfortable quarters for students.

The growth of the School can also be measured in the increased number of students who have been graduated each year. During the first year of operation, 26 students were graduated. That number has increased yearly and during the summer season of 1963, 143 students were graduated from Freedom School.

In addition, three special sessions (a workshop and two three-day seminars) were held, with a total enrollment of 44 persons. Inquiries for 1964 courses were received months before the new 1964 Bulletin was in the mails.

View of fireplace in Falcon Lair. The hexagonal stone fireplace, focal point of the 1469-square-foot main room, weighs 23 tons, seven tons of which is the stone facing, and is 14 feet tall. The striking hexagonal wrought-iron chandelier was a gift of Freedom School graduate Brian Monahan.

[Note: Substituted this better image from the Rampart College Bulletin, 1966.]

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F.S. CALENDAR [1964]

Jan. 13 – 17: Prof. Ludwig von Mises, speaking on:
1) Determination of Prices of the Factors of Production;
2) Savings and Accumulation of Capital;
3) Profit and Loss.

Jan. 27 – 31: Prof. Sylvester Petro, speaking on:
1) Freedom, Competition and Property as Juridical Concepts;
2) the Monopoly Issue at Common Law and Under Interventionism;
3) Freedom and Trade Unionism.

Feb. 10 – 14: Dr. F. A. Harper, speaking on the Philosophical Aspects of Peace.

 These lectures will take place from 9 a.m. until noon, with discussion from

2 to 5 p.m. on each of the dates specified. Anyone interested in attending any of these meetings may do so by applying to the Registrar of the Freedom School.

Information will be sent upon request.

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Hamowy Wins Oxford Grant

Ronald Hamowy, graduate of the Freedom School (1962) and author of the Phrontistery Organizational Plan, is the recipient of a two-year fellowship to Oxford.

Hamowy’s association with the Freedom School began in the summer of 1962 when his services were obtained to prepare the outline and to project the operation of the Phrontistery. The Organizational Plan was the result of much study and with on modest modification is the working format presently employed. Hamowy also made the recommendations for enrollees and guest lecturers, but was required to depart for England and his studies at Oxford a few weeks before the Phrontistery program.

During much of the time he was preparing the outline and interviewing prospective students, Hamowy was conducting research at the University of Paris.

He is a graduate of City College of New York (1960), is a candidate for doctorate in social thought under F. A. von Hayek at the University of Chicago, and now Earhart Fellow at Balliol College, Oxford.

During his two-year fellowship, Hamowy plans on making frequent trips to the United States, and hopes to visit the Phrontistery early in the year.

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Phrontistery Under Way

Phrontistery enrollees are (seated): Dale M. Haywood, Michael F. Helm, Peter C. Blake, Kameon Kimball, Leanna Koehn, Eduardo Helguera, R. Douglas Pinkney; (standing) Juan Manzano-Taylor, Calvin Byles, Jerry Woloz, William A. Colson, Robert E. Gaskins, Jr., David S. Jackman III, R. James Graser, Charles M. McGehee, Charles F. Adams, Hollis B. Danvers, Burl B. Bigelow, and Juan Larreta.

[ Note: This clearer image has been substituted from a Colorado Public Radio podcast episode “Liberty’s Pitchman, Robert LeFevre: The Freedom School” ]

Dean of the Freedom School Phrontistery is Dr. V. Orval Watts, who for 17 years has been a college instructor and professor of economics. Dr. Watts has taught at Clark University, Harvard University, Antioch College, Carleton College, Claremont Men’s College and the Freedom School. Most recently he served as Visiting Professor of Money and Banking at Pepperdine College, California. He received his B.A. from the University of Manitoba and his M.A. and Ph.D. from Harvard University. In conjunction with his duties at the Freedom School, Dr. Watts is Director of Economic Education for Northwood Institute in Midland, Michigan.

Dr. V. Orval Watts

Dr. Watts is a charter member of the Mont Pelerin Society and a member of the Economists’ National Committee on Monetary Policy, and has been economic counsel for the Los Angeles Chamber of Commerce, the Foundation for Economic Education, and business and industrial institutions in Southern California, as well as producer and moderator of radio and television forums. His experience and talents make him a valuable asset to the Phrontistery.

Assisting Dr. Watts is Robert J. Smith, assistant dean of the Phrontistery. Smith is a Freedom School graduate (1958) and received his B.S. from Stanford University. During the summer of 1959 he managed the Stanford Geological Survey, later joining the Foundation for Economic Education as a part time staff member. He was recently a William Volker Fellow in economics at New York University, and is working toward his master’s degree in Business Administration under Professor Ludwig von Mises.

                  Participating in the Phrontistery are 19 students, 16 of whom are Freedom School graduates, listed below:

Charles F. Adams, Denver, Colo., University of Colorado; Burl B. Bigelow, Denver, Colo., Western State College; Peter C. Blake, Weslaco, Tex., Yale University, University of Colorado; Calvin Byles, New Braunfels, Tex., Texas University; William A. Colson, Bellevue, Wash., San Jose City College, Calif.; Hollis B. Danvers, Houston, Tex., Southern Methodist University; Robert E. Gaskins, Jr., Encino, Calif., Summerfield Scholar, University of Kansas; R. James Graser, Oconomowoc, Wis., Beloit College, University of Wisconsin; Dale M. Haywood, Arcadia, Neb., University of Nebraska, New York University; Eduardo Helguera, Buenos Aires, Argentina, Universidad de Buenos Aires; David S. Jackman III, Wichita, Kans., University of Kansas; Kameon Kimball, Waterville, Wash., University of Washington; Leanna Koehn, Dodge City, Kans., University of Kansas; Juan Manzano-Taylor, Rizal, P.I., University of the Philippines; Charles M. McGehee, El Paso, Tex., Texas Western College; and R. Douglas Pinkney, Willoughby, O., Grove City College, Pa.

Students who had not attended the Freedom School prior to the Phrontistery are: Michael F. Helm, Reseda, Calif., San Fernando Valley State College, Calif.; Juan R. Larreta, Buenos Aires, Argentina, Universidad de Buenos Aires; and Jerry Woloz, Brooklyn, N.Y., San Fernando Valley State College, Calif.

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Many Thanks

The Freedom School wishes to express its sincere gratitude to the following graduates for their recent contributions to the School (September through November, 1963).

$1,000 and above:

R. C. Hoiles
Mr. and Mrs. R. D. Threshie, Jr.

$100 and above:

Mrs. Mabelle Acorn
Robert E. Ahern
Russell E. Baetke
Mr. and Mrs. Albert Bassett
Burton Bergman
Mrs. May Bowman
Henry B. Herreid
Roland W. Holmes
Mr. and Mrs. Ned W. Kimball
Mrs. Mary H. Vincent

Up to $100:

Miss Susan M. Breck
Mr. and Mrs. George A. Brightwell, Jr.
Mr. and Mrs. Axtell Byles
Floyd E. Camp
Mr. and Mrs. Wayne T. Carroll
Mrs. Patricia F. Cornell
Miss Carol E. Dazey
Mr. and Mrs. C. R. Estes
Miss Margaret Harkness
Russell Johnson
Mrs. Marjorie Lawrence
Mr. and Mrs. J. Dohn Lewis
Dr. Ruth S. Maynard
Brian J. Monahan
Mr. and Mrs. Jonathan Pavey
James Pessagno
John V. Peters
Cecil Quinn
Mr. and Mrs. John L. Russell
Butler D. Shaffer
Mrs. Katharine W. Spaulding
Leonard A. Talbot
Herman A. Tessmann
Joseph M. White, Jr.
Mrs. Louise Young

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“Freedom and liberty always refer to interhuman relations. A man is free as far as he can live and get on without being at the mercy of arbitrary decisions on the part of other people.” —

Ludwig von Mises, “The Individual in Society”,
Essays on Liberty, 1952.

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The Freedom School
NEWSLETTER

NAN CORBY
Editor

J. DOHN LEWIS
Director of Publications

Published on the 15th of each month.
Third class postage paid at Colorado Springs, Colorado.
Mailed to those interested in education for liberty.

Published by
Pine Tree Press
for The Freedom School, Inc.
Box 165
Colorado Springs, Colorado

Source: HenryHazlittarchives (Beta). Series>Henry Hazlitt Articles>LeFevere’s [sic] Journal 1964-1974.