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Roosevelt College. Abba Lerner’s draft letter to Karl Popper. 1951

 

The following transcribed draft of a letter to Karl Popper was written by Abba Lerner during a transatlantic trip from Southampton to the port of New York on the ship “Anna Salen”. The draft is undated, but checking port arrival lists at the ancestry.com website I found the record of Abba Lerner, his wife Alice and their twins Lionel (M) and Marion (F) arriving at the port of New York on September 20, 1951 aboard the Anna Salen, having sailed from Havre-Southampton, Hook Holland to New York City. I was struck by the overwhelming number of academic addresses among the passengers, which turns out to reflect one use of the dual-use for this converted Navy transport ship.

What higher praise could Lerner possibly have given Karl Popper than “I found your book the most exciting one I had read for a very long time and admired the clarity and forthrightness with which you have stated positions toward which I felt I h[a]d been groping for many years”? One wonders what Popper thought of this, presumably sincere, attempt by one kindred spirit to adopt another.

________________________________

Summer travel for academics, winter transport for D.P.s

Barnard Bulletin (June 7, 1951, p. 1)  “….the Anna Salen, a converted Navy transport which alternates between being a student ship in the summer and carrying Displaced Persons in the winter.”

________________________________

An Open Society Fan-Boy writes…

At Sea on the Anna Salen
Southampton – NY

as from Roosevelt College,
Chicago 5, Ill. USA

Dear Professor Popper,

                  For a long time I have been wanting to read your two volumes on The Open Society and Its Enemies, but did not get around to it until the last two days on this boat. I found your book the most exciting one I had read for a very long time and admired the clarity and forthrightness with which you have stated positions toward which I felt I h[a]d been groping for many years. I am sending you a copy of my “Economic[s] of Employment” which I think might have helped you in the economic analysis of Marx’ trade cycle writings. Time and again in reading your book I w[a]s reminded arguments and writings in which the closeness of your thought to mine is remarkable. I am thinking in particular of a debate I once had with Maurice Dobb on “Vulgar Marxism” (which has a slightly different connotation than your use of the phrase, being directed more to my sp[e]cial interest of economics), a review of Clarence E Ayres [Lerner’s review of The Theory of Economic Progress in American Economic Review, March 1945] who is an excellent example of what you so fel[i]citously call “Moral Futurism”, and an article on Dialectics in “Science and Society” (about 1938) which is a polemic against Haldane’s “dialectical” mysticism.

                  I remember attending a lecture of yours at the London School of Economics some-time in the early thirties and asking you a question – something about Marxian time-limited “truth”. You probably do not remember this. I was also sorry for having missed your lectures in Chicago last year while I was away temporarily in Geneva. While in London this summer I tried to call you up in case you were around – I had a colleague from Roosevelt College, a teacher of philos[o]phy, Dr Lionel Ruby, who also wanted to meet you, but through some misunderstanding, which was never thoroughly cleared up, perhaps I got the wrong number, I was told that you had died and only a few days later did Lionel Robbins tell me that it must have been a mistake. I do hope to meet you again soon.

Yours most sincerely,

Abba P. Lerner

Source: U.S. Library of Congress, Manuscript Division. The papers of Abba P. Lerner, Box 17, Folder 2 “ ‘P’ miscellany 1978-80, w.d.”

Image Source: See Webpage: Salén Rederierna. There is to be found the page in Swedish) with photos of the Anna Dalén.

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Brookings Chicago Cornell Dartmouth Economists Harvard Uncategorized Virginia

Harvard. Economics Ph.D. alumnus, Melvin Gardner de Chazeau. 1930

Melvin Gardner de Chazeau’s graduate school record at Harvard (Economics Ph.D. 1930) is documented fully in this post that also includes a fairly complete c.v. for him (visitors can hunt down his many book reviews at jstor.org). 

Research Tip: There are 2.3 cubic feet of personal papers of Melvin Gardner de Chazeau at the Division of Rare and Manuscript Collections, Cornell University Library.

_______________________

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.

Melvin Gardner de Chazeau. Olympia, Wash.; March 20, 1900.

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

University of Washington 1921-25.
Teaching Fellow (Econ.) 1924-25.
Harvard University 1925-6. Instructor & Tutor (Econ. A) 1926-27.

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

A.B. U. of Washington. Dec. 1924.
M.A. U. of Washington. Aug. 1925.
A.M. Harvard. 1927.

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.)

Econ.: Courses in Standards of Living, History and Theory of Labor in U.S. and Europe, Marketing and Advertising, History of Econ. Thought, Econ. Theory. (Taught General Econ.)
Gov.: General course, American Gov’t., Readings in Political thought.
Phil.: Hist. of Phil., Social Ethics & Ethical Theory, Logic, Phil. of Religion, Modern Schools.
Languages: Spanish, French & Latin (High School)
.

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. Econ. Theory and its History. (Special emphasis since 1776).
    Econ. 11; Econ. 15 (audit); Econ. 33
    Grad. Seminars (U. of W.) in Price Determination, Theory, International Finance.
  2. Econ. History since 1750.
    Econ. 2.
  3. Statistics.
    Econ. 41; Econ. 1a.
  4. Money and Banking.
    Econ. 38. Also matter connected with Econ. 33.
  5. Ethics.
    Two undergraduate courses: Social Ethics and Ethical Theory (U. of W.) Extensive undergraduate and one year’s graduate work in Phil. Private reading.
  6. Regulation of Public Utilities.
    Grad. Seminar (U. of W.) in Rate Regulation.
    Econ. 36 (audit).

VII. Special Subject for the special examination.

Regulation of Public Utilities.

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

Details of subject not yet determined upon. F. W. Taussig.
[Insert written in pencil:] Some Chapters in the Regulation of the Electric Industry in Massachusetts

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

Closing weeks of first, or first few wseeks of second, semester
[Insert written in pencil:] 1926-27. February 21, 1927.

X. Remarks

[Left blank]

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: Melvin Gardner de Chazeau

Approved: November 12, 1926

Ability to use French certified by Professor A. E. Monroe, October 21, 1926.

Ability to use German certified by Professor A. E. Monroe, October 21, 1926

Date of general examination February 21, 1927

Thesis received April 1, 1930

Read by [left blank]

Approved [left blank]

Date of special examination [left blank]

Recommended for the Doctorate [left blank]

Degree conferred  [left blank]

Remarks.  [left blank]

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

Certification of reading knowledge
of French and German for Ph.D.

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
Oct. 21, 1926

Mr. M. G. De Chazeau has this day passed a satisfactory examination in the reading of French and German, as required of candidates for the doctor’s degree.

[signed]
A.E. Monroe

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

Passed General Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
February 24, 1927

To the Division of History,
Government, and Economics,

As chairman of the committee appointed to conduct the general examination in economics of Melvin Gardner de Chazeau, I have to report that the examination was accepted by the committee [Taussig, Crum, Young, Cole, Demos (Ethics)] as satisfactory. It was not as high in quality as the previous record of the candidate had led the committee to expect, and a more than respectable showing at the time of the candidate’s special examination is desirable. The committee had no doubt, however, about accepting the present examination as satisfactory.

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

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

Passed Special Examination

HARVARD UNIVERSITY
Department of Economics

Cambridge, Massachusetts
May 20, 1930

Dear Professor Carver,

As chairman of the committee appointed to conduct the special examination in Economics of Mr. M. G. de Chazeau, I beg to report that Mr. De Chazeau passed the examination to the entire satisfaction of the committee.

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

Professor T. N. Carver
772 Widener Library
Cambridge, Massachusetts

Source: Harvard University Archives. Division of History, Government & Economics, Ph.D. Degrees Conferred 1929-30. (UA V 453.270), Box 10.

__________________________

THE GRADUATE SCHOOL OF ARTS AND SCIENCES
Record of
Melvin Gardner de Chazeau

Years: 1925-26, 1926-27, 1927-28, 1929-30.

[Previous] Degrees received.

A.B. Univ. of Washington, 1924,
A.M. Univ. of Washington, 1925.

First Registration: 24 September 1925

1925-26

Grades

First Year Course

Half-Course

Economics 1a1

A-

Economics 2

A

Economics 11

A

Economics 38

A

Economics 412

A+

Division: History, Government, & Economics
Scholarship, Fellowship: Ralph Sanger Scholar
Assistantship:
Austin Teaching Fellowship:
Instructorship:
Proctorship:
Degrees received: A.B. Univ. of Washington 1924, A.M. ibid. 1925

 

1926-27

Grades

Second Year Course

Half-Course

Economics 20 (F.W.T.) (2d. hf.)

A

Economics 331

A

Economics 392

A

Summer School 1927

Public Utilities S36 (GBA)

A

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship: $700 in Economics. Tutor in Division of History, Government, and Economics, $900
Proctorship:
Degree attained at close of year: A.M.
Accepted for Ph.D., except for French (H.S. only) and German . Oct-16, 1925.

 

1927-28

Grades

Third Year Course

Half-Course

Economics 20

A

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship: in Economics. Tutor in the Div. of H. G. + E. $2500
Proctorship:
Degree attained at close of year: 

 

1929-30

Fourth Year

Economics 20 (F.W.T.) 1 co.

A

Division:
Scholarship, Fellowship:
Assistantship:
Austin Teaching Fellowship:
Instructorship: in Economics. Tutor Hist, G. + Econ  $2700
Proctorship:
Degree attained at close of year:  Ph.D.
Home Address: Nov. 1930. 27 University Circle, University, Virginia.

Source: Harvard University Archives. Graduate School of Arts and Sciences. Record Cards of Students, 1895-1930, Cooke—Dyson (UAV 161.2722.5). Box 4, Record Card of Melvin Gardner de Chazeau [formerly, De Shazo].

__________________________

Course Names and Instructors

1925-26

Economics 1a. Principles of Economics. Prof. Taussig and other members of the department for lectures.

Economics 2. Economic History from the Industrial Revolution. Professor Gay.

Economics 11. Economic Theory. Professor Taussig.

Economics 38. Principles of Money and Banking. Professor Young.

Economics 412. Statistical Theory and Analysis. Asst. Professor Crum.

1926-27

Economics 20. Research in Economics (with Professor Frank William Taussig) (2d. hf.)

Economics 331. International Trade. Professor Taussig.

Economics 392. International Finance. Associate Professor Williams.

1927 (Summer)

S36 (GBA). Public Utilities. Professor Philip Cabot.

1927-28

Economics 20. Research in Economics.

1929-30

Economics 20. Research in Economics (with Frank William Taussig) 1 co.

Source: Harvard University. Report of the President of Harvard College for 1925-26, 1926-27, 1927-28, 1929-30.

__________________________

Melvin Gardner
de Chazeau
Timeline of his life and career

1900. Born March 20 in Olympia, Washington.

1924. B.A. University of Washington. Summa cum laude. Phi Beta Kappa. [Chicago Tribune, 25 Aug 1946]

1925. M.A. University of Washington.

1927. M.A. in economics, Harvard University.

1930. Ph.D. in economics, Harvard.

1929. Married Eunice Storey (daughter Marian, born 1937).

1930-46. University of Virginia. Assistant professor 1930, associate professor 1931, professor, 1946.

1932-33. Study in England, Scotland, and South Wales of the rationalization of electricity supply in Great Britain as research fellow, Social Science Research Council.

1940-41. National Defense Advisory Commission and Office of Production Management. Steel expert.

1941-42. Office of Price Administration and Civilian Supply. Consultant to Director.

1942. Production Board, Bureau of Planning and Statistics, Materials Division. Director.

1943-45. War Production Board, Program Bureau, Non-military Division. Director.

1945-47. Committee for Economic Development. Research staff.

1946-48. University of Chicago. School of Business. Professor of business economics and marketing.

1949-50. Brookings Institution. economic research.

1948-1967. Cornell University. School of Business and Public Administration. Founding member and Professor of economics and business policy. Retired 1967.

1954-55. Fulbright lecturer at the Copenhagen Graduate School of Business, Denmark.

Represented Cornell at the National Bureau of Economic Research (NBER) for more than a decade (1950s)

1967-70. Taught at Dartmouth College and Cornell.

1985. Died November 28 in Arlington, Virginia.

Consultant (various dates): Treasury Department, Department of Justice, War Production Board, Housing Administration, Council of Economic Advisers (1953), Department of Commerce, Economic Cooperation Administration.

Selected Publications:

1934. “The Rationalization of Electricity Supply in Great Britain,”  J. Land & Pub. Util. Econ. (Part I. August; Part II, November).

1937. (with C. R. Daugherty and S. S. Stratton) Economics of the Iron and Steel Industry.

1937. “The Nature of the Rate Base in the Regulation of Public Utilities,” Quarterly J. Econ.

1938. “Public Policy and Discriminatory Prices of Steel : A Reply to Prof. Fetter,”  J. Polit. Econ.

1938. “Revision of Railroad Rate Structures,” Southern Econ. J.

1939. (with S. S. Stratton) Price Research in the Steel and Petroleum Industries.

1941. “Electric Power as a Regional Problem,” Southern Econ. J.

1945. “Employment Policy and Organization of Industry after the War,” Am. Econ. Rev.

1946. (with others) Jobs and Markets.

1954. (editor). Regularization of Business Investment.

1956. “Some Gains from Unit Size in Industry,” Social Science.

1973. (with Alfred E. Kahn). Integration and Competition in the Petroleum Industry.

Source: Fellows of the Social Science Research Council, 1925-1951. pp. 87-88. Also see the Cornell University Faculty Memorial Statement.

Image Source: Cornell University Library. Portrait credited to Otis A. Arnst appeared in The Ithaca Journal (29 January 1952; 8 December 1953).

Categories
Exam Questions Harvard Sociology

Harvard. Exam questions for principles of sociology. Carver, 1907-1908

Thomas Nixon Carver was back at the lectern in 1907-08 following his European sabbatical year. His teaching portfolio was pretty broad and it included the field of sociology which had not yet escaped the gravitational pull of the economics department.  

One presumes the course text was Thomas Nixon Carver’s book of course readings (over 800 pages!): Sociology and Social Progress: A Handbook for Students of Sociology. Boston: Ginn & Company, 1905.

__________________________

Sociology exams from earlier years.

1901-02 (taught by T. N. Carver)

1902-03 (taught by T. N. Carver and W. Z. Ripley)

1903-04 (taught by T. N. Carver)

1904-05 (taught by T. N. Carver and J. A. Field)

1905-06 (taught by T. N. Carver)

1906-07 (taught by J. A. Field)

__________________________

Course Enrollment
1907-08

Economics 3. Professor Carver. — Principles of Sociology. Theories of Social Progress.

Total 49: 8 Graduates, 12 Seniors, 17 Juniors, 10 Sophomores, 2 Others.

Source: Harvard University. Report of the President of Harvard College, 1907-1908, p. 66.

__________________________

HARVARD UNIVERSITY
ECONOMICS 3
Mid-year Examination, 1907-08

  1. Discuss the relation of sociology to economics.
  2. Describe the development of ancestor worship according to Spencer, and show the influence of a system of ancestor worship upon political organization.
  3. What does Spencer mean by “industrialism”?
  4. Can education effect any progressive improvement in the innate physical and mental capacities of a race?
  5. Explain the term “eugenics,” and discuss the obstacles to the practical application of eugenic principles.
  6. How does Kidd define religion? What is the function of religion thus defined?
  7. Explain and criticise Stuckenberg’s theory of “Sociation.”
  8. In what sense can interests be said to be harmonious, and in what sense are they antagonistic?
  9. What is meant by “consciousness of kind,” and how is it related to sympathy?
  10. Discuss the question, Is work a blessing?

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Year 1907-08.

__________________________

ECONOMICS 3
Year-end Examination, 1907-08

  1. Comment upon the following passage: “Every great historical epoch and every variety of social organization must be explained on the basis of factors and forces now at work, and which the student may study at first hand.”
  2. Can you, consistently with modern evolutionary philosophy, define social progress in terms of well-being? Explain.
  3. Comment upon the following passage:—
    “So that as law differentiates from personal commands, and as morality differentiates from religious in junctions, so politeness differentiates from ceremonial observance. To which I may add, so does rational usage differentiate from fashion.”
  4. Comment upon the following passage: “The fundamental fact in history is the law of decreasing returns.”
  5. Compare Gidding’s conception of the “ultimate social fact” with that of Adam Smith.
  6. Describe some of the agencies for the storing of social energy.
  7. What is meant by “animated moderation” and how is it developed.
  8. Compare the mediaeval prince and the modern political boss.

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1908), p. 29.

Image Source: Thomas Nixon Carver. The World’s Work. Vol. XXVI (May-October 1913) p. 127. Colorized by Economics in the Rear-view Mirror.

Categories
Economists Gender Minnesota Smith

Minnesota. Economics Ph.D. Alumna. Mildred L. Hartsough, 1924

Today we meet the 1924 Ph.D. economic historian Mildred L. Hartsough from the University of Minnesota. She entered government service as an economic analyst during the New Deal. Links to some of her publications are provided below. She died from stomach cancer at age 41. Her husband whom she married in 1937 just two years before her death, David Novick,  was a N.Y.U. trained economist and later worked forty years at the RAND Corporation [e.g. his paper on his role in the birth of the Planning Programming Budgeting System, “Beginning of Military Cost Analysis 1950-1961” (March 1988)].

________________________

Fun fact: Mildred L. Hartsough was listed in her college yearbook (University of Minnesota, class of 1919) as having been a member of the Equal Suffrage Club in her junior year.

Research tip: Fellows of the Social Science Research Council, 1925-1951 is a goldmine of biographical and career data for many economists who were supported by the SSRC in the first half of the twentieth century.

________________________

Hartsough, Mildred Lucile

1898. Born March 21 in Sumner, Iowa.

1919. B.A. University of Minnesota.

1921. M.A. University of Minnesota.

1924. Ph.D. University of Minnesota, economic history. Advisor: Norman Scott Brien Gras (Harvard Ph.D.)

1925-27. Instructor in economics and sociology. Smith College.

1927-28. Research fellow, Social Science Research Council.

Fellowship program: study of economic concentration in western Germany and the Rhineland.

1928-29. Assistant professor. Smith College.

1929-32. Associate in research, Graduate School of Business Administration, Harvard.

1934-35. Staff member, Committee on Government Statistics and Information Services.

1935-36. Housing Division, Public Works Administration.

1936-37. National Resources Committee.

1937. Married David Novick (b. 19 Sep 1906 in Easton, PA; d. 5 Nov 1991 in Fountain Hill, Pennsylvania)

1937-39. Consumer purchases study, Bureau of Labor Statistics.

Staff for the Study of Consumer Purchases: Urban Series

Faith M. Williams. Chief, Cost of Living Division
A. D. H. Kaplan. Director
Bernard Barton. Associate Director for Tabulation
J. M. Hadley. Associate Director, Collection and Field Tabulations
A. C. Rosander. Statistician, Tabular Analysis
Mildred Parten. Associate Director, Sampling and Income Analysis
Mildred Hartsough. Analyst, Expenditure Analysis
Ruth W. Ayres. Field Supervisor for New York City

1939. Assistant director of editorial division, Children’s Bureau.

1939. Died from stomach cancer, December 12 in Arlington, Virginia.

________________________

Publications:

Also see: A Bibliography of Female Economic Thought to 1940 By Kirsten Kara Madden, Janet A. Seiz, Michèle A. Pujol p. 217.

The Twin Cities as a Metropolitan Market: A Regional Study of the Economic Development of Minneapolis and St. Paul. The University of Minnesota, Studies in the Social Sciences, no. 18, 1925.

 “Transportation as a Factor in the Development of the Twin Cities.” Minnesota History, vol. 7, no. 3, 1926, pp. 218–32.
JSTOR, http://www.jstor.org/stable/20160604

“The Concept of Regionalism as Applied to Western Germany,” Proceed. Am. Sociol. Soc. 1929.

Journal of Economic and Business History (Graduate School of Business Administration, Harvard University), 1929-30. This journal was founded by her thesis advisor, N.S.B. Gras.

“Business Leaders in Cologne in the Nineteenth Century” Feb. 1930, v. 2: 332-52.

 “The Rise and Fall of the Stinnes Combine” Feb. 1931, v. 3, no. 2: 272-295.

“Cologne, the Metropolis of Western Germany” August 1931. Vol. 3: 574-601.

“Treatise on Bookkeeping under the Fuggers May 1932, vol 4: 539-51.

From Canoe to Steel Barge on the Upper Mississippi 1934; Published in Minneapolis for the Upper Mississippi waterway association by the University of Minnesota Press.

Member of technical staff (F. Lorimer, director), The Problems of a Changing Population 1938.

Associate director (A. D. H. Kaplan, director), Urban Study of Consumer Incomes and Expenditures, Bur. Lab. Statis. Bul. 641-649, 1939-42.

BLS Bulletins:

No. 642, 1939. Family Income and Expenditure in Chicago, 1935-36. Vol. II Family Expenditure. Prepared by A. D. H. Kaplan, Faith M. Williams and Mildred Hartsough

No. 643 Family Income and Expenditure in New York City, 1935-36.

Source: For most of the biographical information above, see Fellows of the Social Science Research Council, 1925-1951. p. 159.

Image Source: University of Minnesota, The Gopher 1919, p. 389.

Categories
Exam Questions Harvard Principles

Harvard. Enrollment and semester examinations for principles of economics. Taussig, Bullock and Andrew. 1907-1908

In addition to the 1907-08 exam questions for Principles of Economics taught at Harvard by Frank W. Taussig, Charles J. Bullock, and A. Piatt Andrew, this post provides links to the previously transcribed 36 years worth of exams.

________________________

Exams for principles (a.k.a. outlines)
of economics at Harvard
1870/71-1906/07

1871-75.
1876-77.
1877-78.
1878-79.
1879-80.
1880-81.
1881-82.
1882-83
.
1883-84
.
1884-85.
1885-86.
1886-87.
1887-88.
1888-89.
1889-90.
1890-91.
1891-92.
1892-93
.
1893-94.
1894-95.
1895-96
.
1896-97.
1897-98.
1898-99.
1899-00.
1900-01.
1901-02.
1902-03.
1903-04.
1904-05.
1905-06.
1906-07.

________________________

Course Enrollment
1907-08

Economics 1. Professor [Frank William] Taussig and Asst. Professors [Charles Jesse] Bullock and [Abram Piatt] Andrew, assisted by Dr. [Charles Phillips] Huse, and Messrs. [?] Hall, [Probably: Walter Max Shohl, A.B. 1906] Shohl and [Abbott Payson] Usher [A.B. 1904]. — Principles of Economics.

Total 482: 1 Graduate, 8 Seniors, 76 Juniors, 290 Sophomores, 66 Freshmen, 41 Others.

Source: Harvard University. Report of the President of Harvard College, 1907-1908, p. 66.

________________________

ECONOMICS 1
Mid-year Examination, 1907-08

Arrange your answers strictly in the order of the questions.

  1. Does saving lead to investment? Does investment lead to the increase of capital? Does the increase of capital lead to the decline of interest? If so, explain in each case why and how; if not, why not?
  2. Suppose that by the use of more prolific seeds the yield of agriculture were very greatly increased; what immediate consequences would you expect as to
    1. The price of agricultural produce;
    2. Economic rent on agricultural land;
    3. The earnings of farmers?

Wherein might the ultimate consequence be different?

  1. Is there any inconsistency between the propositions that
    1. Value is governed by demand and supply;
    2. Value is governed by marginal utility;
    3. The price of a monopolized commodity may be different for different purchasers?
  2. How far does the price of a copyrighted book depend on its cost? How far does its cost depend on its price?
  3. Explain what is meant by “non-competing groups,” and how the situation indicated by that phrase is connected with questions concerning trade-unions and the closed shop.
  4. What effect has the unattractiveness of an employment on the wages of those engaged in it? How do you explain the current scale of wages for unskilled labor? For “sweated” laborers? For domestic servants?
  5. Is it beneficial to laborers as a class that there should be (1) great mobility and free competition between business men and investors; (2) great mobility and free competition between the laborers themselves?

One of the following questions may be omitted.

  1. Suppose coöperative production were universally adopted, how would business profits be affected? Suppose profit-sharing were universally adopted, how would they be affected? Suppose all laborers organized in trade-unions, how would they be affected?
  2. What is the significance for labor questions of
    1. “Making work”;
    2. Luxurious expenditure by the rich;
    3. Jurisdiction disputes?
  3. Explain precisely what social movement you associate with the following:—
    1. Rochdale Pioneers;
    2. Leclaire;
    3. Knights of Labor;
    4. American Federation of Labor.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 8, Bound Volume: Examination Papers, Mid-Years 1907-08.

________________________

ECONOMICS 1
Year-end Examination, 1907-08

  1. Wherein is there resemblance, wherein difference, between the causes that determine the value of

a ton of coal;
an ounce of gold;
a dollar of inconvertible paper?

  1. Wherein, if at all, are the following subject to the law of monopoly value:—

urban sites;
the output of a protective industry;
railway transportation?

  1. It is said that “charging what the traffic will bear” may rest on two different causes. Do you find either or both of the causes in (a) railway rates; (b) the prices of illuminating oil; (c) the prices of cotton-seed oil?
  2. Explain the following terms:—

index number;
bimetallism;
limping standard;
Independent Treasury system;
Gresham’s Law.

  1. In the year 1906 the exports of merchandise from the United States exceeded the imports by about 500 million dollars. In the same year the imports of gold were about 50 million dollars.

(a) Can such a disparity continue for a long period of years? If so, why? If not, why not?

(b) So long as it continues, do you regard the situation as favorable for the people of the United States?

  1. Explain the measures taken in periods of great financial stress in (a) England, (b) Germany, (c) the United States; and mention in each case to what extent these measures were contemplated by existing legislation.
  2. What determines the selling-price of (a) an urban site advantageous for business; (b) the shares of a street railway corporation; (c) the shares of a “trust” whose capitalization much exceeds its tangible property? In which of these cases, if in any, can it be said that there is “over-capitalization”?
  3. Suppose the public-service industries (“monopolies of organization”) to be placed under government management. Do you think wages would be lower or higher in these industries? Would the general level of wages in the community be higher or lower?
    On the same supposition, do you think prices of the commodities or services supplied by those industries would be higher or lower? Would the general level of prices be higher or lower?
  4. Does the encouragement of domestic industries through tariff duties cause a saving by doing away with the expense of transporting goods from foreign countries? Are such duties likely to bring a charge on the foreign producer or on the domestic consumer?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1908-09; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1908), pp. 26-27.

Image Source: Faculty portraits of Frank W. Taussig, Charles J. Bullock, A. Piatt Andrew. The Harvard Class Album, 1906. Colorized by Economics in the Rear-view Mirror.

Categories
Biography Chicago Economists Johns Hopkins

Johns Hopkins. Economics Ph.D. Alumnus, later University of Chicago professor. Marc Nerlove, 1933-2024

 

Caricature by Roger Vaughan in The Journal of Progressive Hedonists Against Radical Thought [P.H.A.R.T.], Special All-Picture Issue (1973). Harvard University Archives. Papers of Zvi Griliches. Box 129, Folder “Posters, ca. 1960s-1970s.”

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The life and career of Marc Nerlove
b. 12 Oct 1933, d. 10 Jul 2024

Marc Leon Nerlove (born 1933) is a white American agricultural economist and econometrician who was born on 12 October 1933 in Chicago, Illinois to Dr. S. H. (Samuel Henry; 1902-1972) and Evelyn (1907-1987) Nerlove. S. H. Nerlove was born in Vitebsk, Russia (now Belarus) and brought to the US by his parents in 1904, and he became a professor of business economics at the University of Chicago (circa 1922-1965) then the University of California, Los Angeles (1962-1969). Evelyn Nerlove was born in Cambridge, Massachusetts and worked at the University of Chicago hospital and taught in the School of Social Service Administration until a university nepotism policy forced her to resign after their marriage in 1932 (although she “returned to her profession” in the 1950s). S. H. and Evelyn had two other children: Harriet Nerlove (circa 1937-2019), who became a clinical psychologist at Stanford University then in New York City, and Sara “Sally” Nerlove (born circa 1942), who became an anthropologist before spending most of her working life as a program officer at the National Science Foundation.

Marc Nerlove attended the University of Chicago Laboratory Schools from 1939-1949, earned a BA with honors in mathematics and general honors in 1952, and was a Research Assistant at the Cowles Commission for Research in Economics in 1953. He then earned a MA in 1955 and a PhD in economics with distinction in 1956 from the Johns Hopkins University (JHU), where Carl Christ supervised his dissertation. Nerlove’s other teachers included Milton Friedman, Theodore Schultz, Ta-Chung Liu, Fritz Machlup, and Jacob Marschak.

Nerlove’s teaching career began in 1958 as a visiting lecturer then lecturer at JHU before he was appointed to his first professorship in 1959 at the University of Minnesota. From there, he made stops at Stanford (1960-1965), Yale University (1965-1969), Chicago (1969-1975), Northwestern University (1974-1982), and the University of Pennsylvania (1982-1993) before retiring from the University of Maryland (1993-2016). He also held many visiting appointments, including at Harvard University (1967-1968), four universities and research centers in Germany, the University of British Columbia (1971), Fundação Getulio Vargas in Brazil (1974-1978), and Australian National University (1982).

Nerlove’s employment history also includes federal service. He was an analytical statistician in the Agricultural Marketing Service at the US Department of Agriculture from 1956-1957, then a lieutenant in the US Army from 1957-1959. He was drafted in 1957, then on loan from the Chemical Corps to the (US) Senate Subcommittee on Antitrust and Monopoly as an economist at the request of Chairman Estes Kefauver in 1958. In addition, Nerlove consulted for the RAND Corporation (1959-1989), Southern Pacific Company (1961), (US) President’s Committee to Appraise Employment and Unemployment Statistics (1962), World Bank (1979-1985), and International Food Policy Research Institute (1981-1986).

Nerlove’s history of professional service includes the Econometric Society (President, 1981), American Economic Association (Executive Committee, 1977-1979), American Statistical Association (advisory committees to the Bureau of the Census, 1964-1969, and Civil Aeronautics Board, 1966-1968), International Economic Association (Chair, Econometrics Section, 1989), National Academy of Sciences (National Research Council Committee on Social Sciences in the NSF, 1975-1976), NSF (proposal reviewer, 1960-1974), and Social Sciences Research Council (Director, Mathematical Social Science Board Summer Workshop on Lags in Economic Behavior, 1970).

Nerlove’s awards include the 1969 John Bates Clark Medal, a Fulbright Research Grant (1962-1963), and two Guggenheim Fellowships (1962-1963; 1978-1979), and he is a Distinguished Fellow of the American Agricultural Economics Association (1993) and American Economic Association (2012).

Nerlove married Mary Ellen Lieberman (died 2011) in the 1950s and they had two daughters, Susan Nerlove (born circa 1958) and Miriam Nerlove (born circa 1960). Miriam Nerlove become an author and illustrator of children’s books, including Who Is David with Evelyn Nerlove in 1985. Marc and Mary Ellen Nerlove divorced in the 1970s, then he married Dr. Anke Meyer (born 1955), a German environmental economist who spent 23 years at the World Bank (1991-2014) and collaborated with him on some of his writings during this time.

Source:  From the Marc L. Nerlove papers, 1930-2014 webpage,  David M.Rubenstein Rare Book & Manuscript Library, Duke University.

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Backstory for The Journal of Progressive Hedonists Against Radical Thought at the University of Chicago:

Chicago. The Journal of Progressive Hedonists Against Radical Thought (P.H.A.R.T.), Rodney Smith & Roger Vaughan, 1971

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For Roger Vaughan’s Meisterstück The School of Chicago, see:

Chicago. The School of Chicago 1972 by Roger Vaughan (Ph.D. 1977). IDs by Gordon, McCloskey & Grossbard

Categories
Exam Questions Harvard Undergraduate

Harvard. Exams for Introductory and Advanced Political Economy. Dunbar and Laughlin, 1878-1879

 

Like the previous post, this one plugs a gap (1878-79) in the time series of Harvard political economy exams from the 19th century. Charles Dunbar was still at the top of his game and the young Dr. James Laurence Laughlin enters the picture. 

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Political Economy [first course].

Course Enrollment

[Philosophy] 6. Political Economy. — J. S. Mill’s Political Economy. — Financial Legislation of the United States. Three times a week. Prof. [Charles Franklin] Dunbar and Dr. [James Laurence] Laughlin.

Total 121: 1 Graduate, 45 Seniors, 71 Juniors, 1 Sophomore, 3 Others.

Source: Harvard University. Report of the President of Harvard College, 1878-79, p. 60.

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PHILOSOPHY 6.
Mid-year Examination, 1878-79

(Do not change the order of the questions.)

  1. State the argument for raising the whole of the supplies of state by taxation within the year. Illustrate by the experience d England from 1793 to 1817, and of the United States in the recent war.
  2. Examine the assertion that, if the rich increase their unproductive expenditure, the now unemployed working classes will be benefited.
  3. If all land were of equal fertility, and all required for cultivation, would it pay Rent? Give the reasons for your answer.
  4. By what reasoning, irrespective of value or price, does Mr. Mill arrive at the law of Rent?
  5. State the general laws of value, and show what modifications are necessary for articles produced in foreign countries. Complete the whole theory by any peculiar cases of value.
  6. (1) Show that capitalists cannot secure themselves against a general increased cost of labor by raising the prices of their goods. (2) On what does Cost of Labor depend?
  7. Illustrate Gresham’s Law by the causes which led to the Suffolk Bank System, and the Coinage Act of the United States in 1834.
  8. Point out the fallacy in the theory that an increase of the currency is desirable because it quickens industry.
  9. When our imports regularly exceed our exports, what will be the rate charged in New York for sight bills on London? What is the par of exchange between Paris and London?
  10. What is to be said as to the doctrine that the advantage to a country from foreign trade is found in the surplus of exports over imports?
  11. Explain the system of the Bank of Amsterdam, and the reasons for establishing it.
  12. Arrange the following resources and liabilities of the Bank of England in the proper form, separating the Issue and the Banking Departments:
Notes Issued £41.5 Government Securities £14.2
Other Deposits 27.9 Reserve 9.4
Other Securities (Loans) 27.9 Public Deposits 5.6
Coin and Bullion 26.5 Rest 3.2
Government Debt., &c. 15.0 Seven-day Bills 0.3
Capital 14.5
  1. Having arranged the account, show what changes would be made in it, if the Bank increased its loans by 3 millions and sold 1 million of government securities, and depositors at the same time withdrew 2 millions to be sent abroad.

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Mid-Year Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, February 1879, pp. 8-9.

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PHILOSOPHY 6.
Year-End Examination, 1878-79

  1. What is the cause of the existence of profit? And what, according to Mr. Mill, are the circumstances which determine the respective shares of the laborer and the capitalist?
  2. Explain the statement that “high general profits cannot, any more than high general wages, be a cause of high values. . .. In so far as profits enter into the cost of production of all things, they cannot affect the value of any.”
  3. On what does the minimum rate of profit depend? What counterforces act against the downward tendency of profits?
  4. State the theory of the value of money (i.e. “metallic money”), and clear up any apparent inconsistencies between the following statements: (1) The value of money depends on the cost of production at the worst mines; (2) The value of money varies inversely as its quantity multiplied by its rapidity of circulation; (3) The countries whose products are most in demand abroad and contain the greatest value in the smallest bulk, which are nearest the mines and have the least demand for foreign productions, are those in which money will be of lowest value.
  5. What is the error in the common notion “that a paper currency cannot be issued in excess so long as every note represents property, or has a foundation of actual property to rest on?”
  6. What are the conditions under which one country can permanently undersell another in a foreign market?
  7. On whom does a tax on imports, if not prohibitory, fall?
  8. Discuss the following:—
    “A man with $100,000 in United States bonds comes to Boston, hires a house …; thus he lives in luxury… I am in favor of taxing idle investments such as this, and allowing manufacturing investments to go untaxed.”
  9. If depositors in the Bank of England withdraw £3,000,000 in specie and send it abroad, how does this withdrawal of gold from the vaults of the Bank affect the currency in actual circulation?
  10. Describe the plan on which a national bank of the United States is organized, the security for its notes, the provision for their redemption and the extent to which the law makes them receivable.
  11. When were the legal-tender, compound interest notes issued, and what was their peculiar characteristic as a currency? How did their action as currency differ from that of the other issue of interest-bearing legal-tender notes?
  12. Describe the Resumption Act of 1875. What circumstances have promoted its success?

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Annual Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, May 28 to June 4, 1879, pp. 13-14.

__________________________

Advanced Political Economy.

Course Enrollment

[Philosophy] 7. Advanced Political Economy. Cairnes’s Leading Principles of Political Economy. — McKean’s Condensation of Carey’s Social Science. — Lectures. Three times a week. Prof. Dunbar.

Total 36: 2 Graduates, 31 Seniors, 3 Juniors.

Source: Harvard University. Report of the President of Harvard College, 1878-79, p. 60.

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PHILOSOPHY 7.
Mid-year Examination, 1878-79

(Write your answers in the same order as the questions.)

  1. Give a careful and logical summary of the laws determining the values of all commodities, monopolized or free, domestic or foreign, using the corrected definition of Cost of Production. [Forty minutes]
  2. As a new country fills up, what changes may be expected in the normal prices of meat, timber, grain and wool?
  3. Why is it unlikely that any formula will be devised, embracing in one statement the law of the value of commodities and the law of the value of labor, i.e. the law of wages?
  4. Give a summary of Mr. Cairnes’s restatement of the wages-fund theory.
  5. Analyze this statement:
    “An article which a farm laborer has produced in a day does not exchange for one which a watchmaker has spent an equal time in producing, because the latter is a more skilful operative.”
  6. Explain the statement that “the high scale of industrial remuneration in America, instead of being evidence of a high cost of production in that country, is distinctly evidence of a low cost of production.”
  7. What effects upon foreign trade have general changes in the rates of wages, and what have partial changes? Give the reasons.
  8. What effect has the existence of a large debt payable to foreigners, upon the ability of a country to keep up a metallic circulation?
  9. The Governor of M. is informed,
    “That the longer continuance of the provisions of the treaty with Great Britain, permitting the free importation of fish from the Provinces, will be most disastrous to the fishing interest; and that the permanent maintenance of this policy will insure its complete destruction. This would involve the decay of our fishing ports and the loss of millions of capital, and drive from their occupation thousands of deserving citizens. … This class has been the nursery of the navy of the Union. It has manned our mercantile marine.”
    Discuss the suggestion that for these reasons the provisions of the treaty referred to should be abrogated.
  10. Give some account of the Economistes and of their doctrines.

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Mid-Year Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, February 1879, p. 10.

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PHILOSOPHY 7.
Year-end Examination, 1878-79

  1. What are Mr. Cairnes’s reasons for doubting whether any great improvement can be made in the condition of the laboring class, so long as they remain mere receivers of wages?
  2. How is the statement that “a rise or fall of wages in a country, so far forth as it is general, has no tendency to affect the course of foreign trade” to be reconciled with the fact, that in the last two or three years the United States have been able to export certain manufactured goods in increased quantities, in spite of competition?
  3. What is the explanation of the statement that “what a nation is interested in is, not in having its prices high or low, but in having its gold cheap”?
  4. How does Mr. Shadwell’s definition of value differ from that adopted by the school of Ricardo?
  5. Discuss the following extract:—
    “As a cause must precede its effect, increase of population cannot be the cause of an increase of food, nor of its increased dearness, which is consequent on the resorting to poorer soils in order to raise a larger quantity. If, then, the cost of food has any tendency to increase as society advances, it must be because farmers are prompted by some motive or other to resort to poorer soils, while richer ones are to be had. But such a supposition is contrary to the principle that every one desires to obtain wealth by the least possible labor, and is therefore inadmissible. Poor land is taken into cultivation not because the population has increased, but because some discovery has been made which renders it possible to obtain as much profit as from the worst previously cultivated, and this discovery enables the quantity of food to be increased, and an increase of population is the effect and not the cause.”
  6. Also the following :-
    “Agricultural profits cannot fall unless recourse is had to poorer land, but such land will never be cultivate, since capitalists can never be willing to submit to a fall of profit; and the very meaning of the expression that some land is not worth cultivating, is, that it will not yield the ordinary profit to the farmer who should attempt to reclaim it. It appears, then, that the rate of profit is stationary in agriculture, and, consequently, in all other trades; and that whatever rate be established in an early stage of society, it must remain the same throughout its subsequent development.”
  7. “Why then should we suppose that the supply of paper substitutes for coin (like the supply of corn) would not be best maintained by allowing bankers and their customers to bring them into circulation in whatever quantities, and at whatever times, they find to be mutually convenient?”
  8. In what forms was the French indemnity finally received by Germany (bills of exchange being a mere instrument of transfer)? How did the payment probably affect Austria and the United States?
  9. A considerable party in England now propose “Reciprocity,” — that is, the admission without duty of the goods of such countries only as in turn admit English goods without duty. What practical objections and what theoretical ones can be urged against this proposition?
  10. “No act of Parliament,” it is said, “or convention of nations can prevent (between gold and silver) changes in value resulting from variations in the conditions of production, or of the action of demand and supply.”
    To this M. Cerunschi replies, — “You confound money with merchandise. To speak of merchandise is to speak of competition, supply and demand, purchase and sale, price. To speak of money is nothing of the kind.
    “Whether he produces little or much at a profit or at a loss, no miner can ever sell his metal money either dearer or cheaper than other miners, for the simple reason that the metal money is not sold or bought; it is itself its price…
    “When the monetary law is bi-metallic, therefore, no competition [is] possible between the producer of gold and the producer of silver, no purchase and sale, no discount, no price between one metal and the other. Without their being offered, without their being demanded, the circulation absorbs them both at the legal par, and cannot refuse them. When the monetary law is everywhere bi-metallic, neither gold nor silver, coined or uncoined, is merchandise. That is the secret.”

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Annual Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, May 28 to June 4, 1879, pp. 14-15.

Image Source: Harvard Library, Hollis Images. Charles F. Dunbar (left) and James Laurence Laughlin (right). Colorized by Economics in the Rear-view Mirror.

Categories
Exam Questions Harvard

Harvard. Exams for Introductory and Advanced Political Economy. Dunbar, 1877-1878

 

This post plugs a gap in the time-series of Harvard economics exams back in the day when economics was still called political economy and political economy was just another moral science among the philosophy department’s course offerings. Two courses, that was all in 1877-1878.

Texts from John Stuart Mill, Walter Bagehot, John Elliott Cairnes, Henry Charles Carey were assigned readings.

_______________________

Political Economy [first course].

Course Enrollment

[Philosophy] 6. Political Economy. — J. S. Mill’s Political Economy. — Bagehot’s Lombard Street. — Financial Legislation of the United States. Three times a week. Prof. [Charles Franklin] Dunbar and Mr. [Silas Marcus] Macvane.

Total 108: 25 Seniors, 72 Juniors, 9 Sophomores, 1 Freshman, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1877-78, p. 59.

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PHILOSOPHY 6.
Mid-year Examination 1877-78

  1. How does the meaning of the following terms, when used in scientific discussion, differ from that which they have in popular discourse? — Wealth, Capital, Rent, Value of Money.
  2. What is the reason that rears of great unproductive expenditure e.g. years of war, are often years of great apparent prosperity? Illustrate by the cases of England and France during the wars of Napoleon.
  3. What is the objection to the “Allowance System” of poor relief, by which insufficient wages are made good by a contribution from public funds?
  4. How is the alleged tendency of profits to equivalence in different employments to be reconciled with the notorious difference in the profits of different individuals?
  5. Explain the reason for the statement that “if it were the fact that there is never any land taken into cultivation for which rent is not paid, it would be true, nevertheless, that there is always some agricultural capital which pays no rent.”
  6. Explain carefully the reason for the proposition that high wages do not make high prices.
  7. What causes determine the value of money?
  8. In the markets of the world gold bullion is worth more than seventeen times as much as silver bullion. What will be the effect on the currency of a country which establishes the double standard, makes each metal a legal tender for any amount, but adjusts the weight of the coins upon the assumption that the values of gold and silver are in the ratio of 16 to 1? What further effect will be produced if, after this has taken place, another country adopts the same measure, but with the assumed ratio of 15½ to 1?
  9. What will determine the value of an inconvertible currency which is a legal tender?
  10. What are the arguments against the possibility of general over-production, or “excess of supply”?
  11. The following are the items [in £ millions] in the Bank of England account for November 11, 1857:—
Bullion, £6.6 Private deposits, £12.9
Capital, 14.5 Notes, 21.1
Gov. Debt. & sec. 14.5 Reserve, 1.4
Gov’t. securities, 9.4 Rest, 3.4
Public deposits 5.3 Seven-day Bills 0.8
Other securities, 26.1

Arrange these items in the proper form, separating the Issue and Banking Departments, and then show the changes required by the following operations:—

An increase of loans amounting to… £4 millions
A sale of Government securities amounting to… 1 million
The withdrawal by depositors of… 3 millions

the act of 1844 being suspended.

  1. Why does the suspension of the act of 1844 give relief to the money market?
  2. How far can the Bank of England control the market rate of interest?

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79 (sic), Papers Set for Mid-Year Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, February 1878, pp. 11-12.

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PHILOSOPHY 6.
Year-end Examinations 1877-78

[Let the answers given in your book stand in their proper order. Take either 8 or *8. Take care not to omit the last four questions.]

  1. Why are the wages of skilled labor so much higher than those of unskilled?
  2. Are improvements in production ever injurious to the laboring classes?
  3. Why is it that a potential change of the supply of other commodities is enough to make their value conform to any change in their cost of production, but that in the case of gold and silver the change of supply must be actual?
  4. When it is said that improvements tend to counteract the increasing cost of production from land, what sort of improvements are meant?
  5. What effect is produced upon rents, profits and wages, respectively, in a country where population is stationary and capital advancing, like France?
  6. Explain what effect, if any, will be produced on the price of corn by,
    1. a tax upon rent;
    2. a tithe;
    3. a tax of so much per acre, irrespective of value;
    4. a tax of so much per bushel.
  7. In the theory of an ultimate stationary state of society, what is implied as to the well-being of the laboring classes when that state is reached?
  8. State and examine Mr. Wakefield’s theory of a “limited field of employment” for capital as explaining the fall of profits.

*8. “There are two senses in which a country obtains commodities cheaper by foreign trade: in the sense of Value and in the sense of Cost.”

  1. What effect does an annual payment of interest to foreign creditors have upon the imports and exports of a country? If the interest is payable in gold, will it necessarily cause gold to be sent out of the country? Why, or why not?
  2. Criticise the following statement made by a well-known member of Congress:—
    “Bank of England notes have been interchangeable with money since 1844, with three brief intervals, when the system of promising gold redemption and of issuing notes based on gold deposits in excess of £14,000,000 brought about crises.”
  3. What was the provision made by the National Bank Act as to reserves for the protection of circulation and deposits, and what reserves are now required by law?
  4. What was the amount of greenbacks outstanding in the period 1868-73, and what were the changes by which the amount settled to its present figure, $346,000,000?
  5. State briefly the history of our gold and silver coins as found in the coinage acts of 1792, 1834, 1853, 1873, and 1878.

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Annual Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, May 27 to June 20, 1878, pp. 13-14.

_______________________

Advanced Political Economy.

Course Enrollment

[Philosophy] 7. Advanced Political Economy. Cairnes’s Leading Principles of Political Economy. — McKean’s Condensation of Carey’s Social Science. — Lectures. Three times a week. Prof. Dunbar.

Total 28: 1 Graduate, 22 Seniors, 5 Juniors.

Source: Harvard University. Report of the President of Harvard College, 1877-78, p. 59.

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PHILOSOPHY 7.
Mid-year Examination, 1877-78

  1. What reasons make a revision of the usual definition of Cost of Production necessary? How do Mill and Ricardo use the term?
  2. What effect has the existence of “non-competing groups” on the exchange of commodities, each of which is the product of several classes of labor, as e.g. a steam engine and cotton cloth?
  3. What is the argument in favor of Mr. Cairnes’s position that the price of corn, in the progress of society, reaches a certain maximum, beyond which it cannot advance?
  4. When a permanent increase of currency occurs, what will be the difference in the effect on the prices of manufactured goods, vegetable products, and animal products, respectively?
  5. Criticise the following statement of the wages-fund doctrine:—
    “There is supposed to be, at any given instant, a sum of wealth which is unconditionally devoted to the payment of the wages of labor. This sum is not regarded as unalterable, for it is augmented by saving, and increases with the progress of wealth; but it is reasoned upon as at any given moment a predetermined amount. More than that amount it is assumed the wages-receiving class can not possibly divide among them; that amount, and no less, they can not but obtain. So that the sum to be divided being fixed, the wages of each depend solely on the divisor, the number of participants.”
  6. What is to be inferred from Mr. Cairnes’s reasoning as to a probable fall of prices in the United States, with respect to the recovery of prices after confidence shall have been restored and industry shall have revived?
  7. What is the reason for rejecting the common notion that high general wages hinder the extension of the foreign trade of a country like this?
  8. Discuss the bearing of the reasoning involved in the last question, on the theory of protection.
  9. Discuss the common argument that the national debt ought to be held at home, because if held abroad it compels the payment of a “tribute” to foreigners, and tends so far to check our prosperity.
  10. Explain the fact that only about one-ninth of the French Indemnity was paid in coin.
  11. In the progressive development of political economy as a logical system, what are the relations of Malthus, Ricardo, and Mill, respectively?
  12. Give some account of Colbert, J.-B. Say, Storch.

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79 (sic), Papers Set for Mid-Year Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, February 1878, p. 13.

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PHILOSOPHY 7.
Year-end Examination, 1877-78

[Let the answers given in your book stand in their proper order.]

  1. In what way does skill affect the cost of the products of skilled labor?
  2. Give Cairnes’s statement of the Wages Fund doctrine. “It will perhaps strike the reader that our reasoning has conducted us into a vicious circle.” Is the circle real or apparent? Why?
  3. Cairnes says that “an alteration in the reciprocal demand of two leading nations will act upon the price, not of any commodity in particular, but of every commodity which enters into the trade.” Is this statement broad enough to cover all the effects of such an alteration?
  4. How are we to explain the fact that, while cost of production is generally the ultimate condition governing international exchange, it is seldom, if ever, the proximate or immediate cause of exchange?
  5. It has been remarked that “the object of taxation is to make all property bear its equitable share.” Is this a correct statement of the principle to be followed? Why, or why not?
  6. Criticise the following passage from a thesis on Reciprocity with Canada:—
    “Unless there is a good deal of uniformity in excise it will be difficult to maintain reciprocity between the two countries… Suppose that an income tax should be laid on in the United States, as has been proposed. Such a measure would place all United States industries at a disadvantage as regards Canadian and perhaps as regards foreign.”
  7. How does a pressure in the money market here, where paper currency is used, tend to bring gold from London to New York?
  8. What reasoning is there for or against the statement that “the balance of trade must be against the countries which export raw produce, that the precious metals must flow from these countries, and that they must, while continuing in that course of policy, abandon the idea of gold and silver as a standard of value.”
  9. Discuss this statement:
    “Interest is the compensation paid for the use of the instrument called money, and for this alone. In countries in which that is high, the rate of profit is necessarily so, because the charge for the use of his money enters so largely into the trader’s profits.”
  10. What is Mr. Carey’s theory as to the tendency (1) to decline in the value of commodities, and (2) to rise in the value of land; and how is this reconciled with his principle that the law of value is universal, embracing everything, «”whether land, labor, or their products”?
  11. What logical necessity drove Mr. Carey to the invention or discovery of a new law of population? In what does his conception of an ultimate stationary state necessarily differ from that of Ricardo and Mill?
  12. The existence of much vice and misery is ascribed by Malthus to an economic law. How far is it the result of this to “relieve the governing classes of the world from any possible responsibility for the welfare of those below them”?

Source: Harvard University Archives. Examination papers, 1873-1915. Box 2, Bound Volume 1878-79, Papers Set for Annual Examinations in Rhetoric, Logic, Philosophy, Political Economy, History, Music, Fine Arts in Harvard College, May 27 to June 20, 1878, pp. 14-15.

Image Source: “Charles Franklin Dunbar: Second President of the American Economic Association, 1893.” The American Economic Review, vol. 31, no. 3, 1941.
JSTOR, http://www.jstor.org/stable/1805801.
Colorized by Economics in the Rear-view Mirror.

Categories
Econometrics Exam Questions Johns Hopkins

Johns Hopkins. Final Exams for “Econometrics”. Christ and Harberger, 1951-1952

 If you have ever wondered why the journal Econometrica has always published much content with next to no “econometrics” (in the sense of mathematical statistics with special application to economics), the final exams for the Johns Hopkins graduate course “Econometrics” taught by Carl Christ and Arnold Harberger in 1951-52 provide us with a ready explanation. We can see that their course offered a combination of mathematical modeling and econometrics, narrowly defined. At mid-20th century economists regarded “econometrics” as the union of mathematical economics and mathematical statistics rather than as the intersection of the two fields.

Fun fact: Marc Nerlove, who entered the Johns Hopkins graduate program in economics in 1952, was in Carl Christ’s econometrics course. This fact and the photo of Christ and Harberger come from Nerlove’s note included on the In Memoriam page for Carl Christ (1923-2017).

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EXAMINATION
ECONOMETRICS

Friday, January 25, 1952 — 2-5 p.m.

Dr. Christ
Dr. Harberger

  1. A monopolist produces Z goods, X1 and X2, under constant unit costs C1 and C2 respectively. The demands for his products are

x1 = x10 – a11 (P1 – C1) – a12 (P2 – C2)
x2 = x20 – a21 (P1 – C1) – a22 (P2 – C2)

Find the Outputs of X1 and X2 which the monopolist will produce in order to maximize profits. What condition on the a’s must be satisfied if your solution is to reflect a true maximum?

  1. Prove Euler’s theorem for homogeneous functions of the first degree.
  2. Consider the utility functions

(1) U1 = ху
(2) U2 = logex + logey

For each function state:

      1. whether the marginal utility of each good is increasing, decreasing, or constant.
      2. whether the marginal utility of one good is independent of the amount of the other good consumed.
      3. the demand functions of a person having a fixed income.

What conclusions do your results suggest?

  1. Two countries. A and B, produce export commodities XA and XB at constant cost in local currency. Income in each country is stabilized by government policy, and the demand for imports depends solely on the local-currency price of imports. The exchange rate is normally fixed, but is subject to change by policy action. Assume Country A, in an initial equilibrium of the system, does not receive as much foreign currency as it has to pay for the imports its citizens demand. What are the conditions under which the gap between its receipts and expenditures of foreign currency can be decreased by devaluation? Do these same conditions apply to the gap between receipts and expenditures expressed in its own currency?
  2. Factor A is the only factor used by a monopolist, who produces good X. The suppliers of factor A always demand a constant percentage of the product price p as their unit price. At, this price they are willing to supply unlimited amounts of A.
      1. Assume returns to scale are constant. What output will the monopolist produce? Is thin output any different from that he would produce if A were free good.
      2. Assume returns to scale are decreasing. What output will the monopolist produce? Compare your present result with your answer to (a).

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ECONOMETRICS 633-34
Final Examination

Thursday, May 22, 1952
  1. Define
      1. exogenous variable
      2. overidentified equation
      3. consistency
      4. likelihood function
      5. condensed likelihood function
  2. Suppose the actual supply and demand equations for 2 goods X1 and X2 are as follows (where p1 and p2 are their respective prices, and income Y and wage rate w are exogenous):

S1:           X1 = 3p1 – 6w + 1

D1:           X1 = 2p1 – 5p2 + Y + 2

S2:           X2 = 7p2 – 8w +3

D2:           X2 = 4p1 – 4p2 + 2Y +4

State whether each equation is identified.

  1. Given that y = ax + b + u, where a is an independent variable, u is a random normal disturbance with mean 0 and constant variance σ2, and a and b are parameters. Derive the maximum likelihood estimates of a, b, and σ2 based on N observations on the pair of variables x and y.
  2. What assumptions must you make and what data do you need in order to obtain limited-information maximum-likelihood estimates of the following equation:

C= α Y + β C-1 + γ

where C and Y are real consumption and disposable income, respectively.

  1. The output of each of n industries (excluding households) is produced by a given process requiring fixed proportions of inputs of the other n-1 commodities. If these proportions are known and if a final-demand bill of goods is specified, how are the total outputs of the n industries determined?
  2. It has been asserted that the materials restrictions imposed on durable goods manufactures after Korea, while limiting the output of durable goods well below the level of 1950, did not reduce the quantities sold to a point below what they would have been in the absence of the restrictions. This assertion is supported by empirical evidence is the form of the observed accumulation of manufacturers’ and dealers’ inventories and of some price-cutting in 1951-52. Can you think of any way whereby back in 1950 you could have anticipated these developments? To answer this question, what empirical data would you seek and how would you use it, with respect to consumer durables generally or to any particular durable good?

Source: Johns Hopkins University. Eisenhower Library, Ferdinand hamburger, Jr. Archives. Department of Political Economy, Series 6, Series 7, Subseries 1, Box 3/1, Folder “Department of Political Economy, Graduate Exams 1933-1965.”

Image Source: Department of Economics, Johns Hopkins University. Webpage “In Memoriam – Carl Christ (1923-2017).” Carl Christ and Arnold Harberger at the Johns Hopkins conference in honor of Marc Nerlove, 2014.

Categories
Exam Questions Harvard Social Work Socialism

Harvard. Readings and final exam for social ethics. Peabody, 1906-07

The field of social ethics was taught by the Plummer Professor of Christian Morals and then Dean of the Harvard Divinity School, Francis Greenwood Peabody. It was a rather popular secondary field chosen for the graduate general examination by economics graduate students in the early 20th century.  In the spectrum of individualism through socialism, applied social ethics (poor-relief, family, temperance, and “the labor question”) were imported from philosophical/theological studies.

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Building blocks for Peabody’s course

Peabody’s short bibliography on the Ethics of Social Questions published in 1910.

Francis Greenwood Peabody. The Approach to the Social Question. New York: Macmillan, 1912. “The substance of this volume was given as the Earle Lectures at the Pacific Theological Seminary in 1907.”

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Course Enrollment
1906-07

Social Ethics 1. Professor Peabody and Dr. Rogers. — Social Ethics. The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question, in the light of ethical theory.

Total 175: 6 Graduates, 41 Seniors, 54 Juniors, 50 Sophomores, 1 Freshman, 23 Others.

Source: Harvard University. Report of the President of Harvard College, 1906-1907, p. 72

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Thick Course Description
1906-07

  1. Social Ethics . — The problems of Poor-Relief, the Family, Temperance, and various phases of the Labor Question, in the light of ethical theory. Lectures, special researches, and prescribed reading. Tu., Th., Sat., at 10. Professor Peabody and Dr. Rogers.

This course is an application of ethical theory to the social problems of the present day. It is to be distinguished from economic courses dealing with similar subjects by the emphasis laid on the moral aspects of the Social Question and on the philosophy of society involved. Its introduction discusses various theories of Ethics and the nature and relations of the Moral Ideal [required reading from Mackenzie’s Introduction to Social Philosophy, and Muirhead’s Elements of Ethics]. The course then considers the ethics of the family [required reading from Spencer’s Principles of Sociology (Volume 1; Volume 2; Volume 3)]; the ethics of poor-relief [required reading from Charles Booth’s Life and Labor of the People (links below)]; the ethics of the labor question [required reading from J. A. Hobson’s The Social Problem, Schäffle’s The Quintessence of Socialism, Adams and Sumner, Labor Problems]; and the ethics of the drink question [required reading from The Liquor Problem; a Summary of Investigations]. In addition to lectures and required reading two special and detailed reports are made by each student, based as far as possible on personal research and observation of scientific methods in poor-relief and industrial reform. These researches are arranged in consultation with the instructor or his assistant; and an important feature of the course is the suggestion and direction of such personal investigation, and the provision to each student of special literature or opportunities for observation.

            Rooms are expressly assigned for the convenience of students of Social Ethics, on the second floor of Emerson Hall, including a large lecture room, a seminary-room, a conference-room, a library, and two rooms occupied by the Social Museum. The Library of 1500 volumes is a special collection for the use of students of Social Ethics, with conveniences for study and research. The Social Museum is a collection of graphical material, illustrating by photographs, models, diagrams, and charts, many movements of social welfare and industrial progress.

Source: Announcement of the Divinity School of Harvard University, 1906-07, p. 22.

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Charles Booth’s Life and Labor of the People:

(Original) Volume I, East London;
(Original) Volume II, London;
(Original) Appendix to Volume II;
Note: the previous three original volumes were re-printed as four volumes that then were followed by
Volume V, Population Classified by Trades;
Volume VI, Population Classified by Trades (cont.);
Volume VII, Population Classified by Trades;
Volume VIII, Population Classified by Trades (cont.);
Volume IX, Comparisons, Survey and Conclusions.

*  *  *  *  *  *  *  *  *  *  *  *

Note: Besides the changes in course number, a few minor changes in the course description from (Philosophy 5) 1902-03  Also in the course description Philosophy 5 (1904-05).

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SOCIAL ETHICS 1
Year-end Examination 1906-07

This paper should be considered as a whole. The time should not be exhausted in answering a few questions, but such limits should be given to each answer as will permit the answering of all the questions in the time assigned.

  1. Explain the significance of the titles:— “Past and Present” [by Thomas Carlyle]; “Unto this Last” [by John Ruskin]; and comment on the teachings involved.
  2. Statistics of wage-loss, employer’s loss, and assistance to employees, in the United States (1881-1900); and their lessons.
  3. The tendencies in contemporary life which appear to the scientific socialist to encourage his faith; with comments.
  4. “The normal relation of the antithesis of which I spoke,” [Socialism and Individualism, Economic and Moral] “is that of cross-correspondence”? (Bosanquet, Civilization of Christendom, p. 316). Comment on this suggestion.
  5. The effect of the growth of trade-unionism on the economic theory of wages. ( A. [Robert Archey] Woods.) [Probably Chapter 1 “The Labor Movement” in Woods’ English Social Movements (2nd ed., 1895), pp. 1-37.]
  6. Distinguish Arbitration, Conciliation, and Coöperation, and indicate the place of each in the Ethics of the Labor Question.
  7. Welfare work at Anzin, and the limitations of its usefulness.
  8. Employer’s Liability, Workmen’s Compensation Acts, and the social philosophy involved. (Adams and Sumner, pp. 478-488.)
  9. Distinguish “Profit-sharing,” “Gain-sharing,” and “Industrial Partnership,” and describe the method undertaken by the United States Steel Corporation.
  10. Compare the operation of the South Carolina liquor-law with that of the Scandinavian System. (The Liquor Problem, pp. 151-156.)

Source: Harvard University Archives. Harvard University, Examination Papers 1873-1915. Box 8, Bound volume: Examination Papers, 1906-07; Papers Set for Final Examinations in History, Government, Economics,…,Music in Harvard College (June, 1907), p. 59.

Image Source: Harvard University Archives.  Francis Greenwood Peabody [photographic portrait, ca. 1900], Colorized by Economics in the Rear-view Mirror.