Author: Irwin Collier

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.

_________________

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.

_________________

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.

_________________

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.”

_________________

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.

_________________

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.]

_________________

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.

_________________

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.

_________________

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.

_________________

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

_________________

“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.

_________________

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.

Categories
Economics Programs Economists M.I.T.

M.I.T. Department of Economics Annual Report by E. Cary Brown, 1975-1976

The following annual report of the M.I.T. department of economics was most likely written for the care and feeding of administrators and the members of the department’s visiting committee. This report covers what was my second year of graduate school, so for folks from that time it reads like an annual Holiday newsletter to the family.

_______________________

Department of Economics
1975 – 76

Undergraduate Program

The long-run impact of the past year’s changes in the Institute Requirement in the Humanities, Arts, and Social Sciences is not yet clear. Unquestionably they have increased the Department’s enrollment, but the precise amount is uncertain because simultaneously a major revision was made in the two introductory economics subjects. In the past year enrollments were larger than previously, but smaller than in the transition of the previous year. Nearly 200 of the Class of 1976 concentrated in economics for their Humanities, Arts, and Social Sciences Requirement. Of all students presently enrolled, 327 (primarily juniors and seniors) have elected to concentrate in economics.

Undergraduate majors remain steady in numbers. As in 1974-75, 20 degrees were awarded. In the spring term the Undergraduate Economics Association was reactivated. Its weekly meetings with faculty led to several proposals for revision of the undergraduate program, and several student-faculty socials were organized.

Graduate Program

Enrollment has been remarkably steady in the graduate program. The number of applications for admission was virtually identical to the average of the previous six years. Next year’s entering class of 32 will be slightly larger than average, and will have fewer foreign students and more women, reflecting a shift in the percentage of applications from these groups. Four students from minority groups are expected to be in this class.

Financial support for the graduate student has changed very little over the last several years. We are still fortunate in having from one-third to one-half of the entering students on National Science Foundation Fellowships. For the whole student body, there has been an increase in the support by US foundations (other than NSF) and a decrease in support provided by M.I.T.

The number receiving the Doctor of Philosophy increased somewhat in the past year to 21. For the first time, two American blacks received degrees.* The class fared well in placement, their median salary offer totaling 24 percent above that of 1971. Like the past average, 86 percent went into teaching and 14 percent into non-teaching positions.

*Samuel Myers, Jr. Ph.D. thesis: “A Portfolio Model of Illegal Transfers”, supervised by Robert Solow.
Glenn Loury. Ph.D. thesis: “Essays in the Theory of the Distribution of Income”, supervised by Robert Solow.
See: William Darity Jr. and Arden Kreeger, “The Desegregation of an Elite Economics Department’s PhD Program: Black Americans at MIT“, History of Political Economy 46 (annual suppl.)

The Graduate Economics Association awarded the outstanding teacher in the Department prize to Professor Stanley Fischer.

PUBLIC SERVICE ACTIVITIES

The faculty has always been involved in public service activities tying research to the public interest. In connection with M.I.T.’s participation in the Bicentennial Celebration, Professor Jagdish N. Bhagwati set up a recent conference on the New International Economic Order: Professor Ann F. Friedlaender is planning one for this fall on Air Pollution and Administrative Control. Through the German Marshall Fund, Professor Richard S. Eckaus is organizing a fall conference on economic problems of Portugal. Professor Franco Modigliani arranged a conference through the Bank of Finland on International Monetary Mechanisms.

Various Congressional committees and government agencies have been advised. Professor Peter A. Diamond served on the Consultant Panel on Social Security for the Congressional Research Service. Professors Rudiger Dornbusch and Fischer and Institute Professor Paul A. Samuelson prepared a report for the US Department of Commerce on international financial arrangements. Professor Robert E. Hall was a member of the Advisory Committee on Population Statistics, Bureau of the Census. Professor Jerry A. Hausman served on the Econometrics Advisory Committee to the Federal Energy Administration. Institute Professor Modigliani was a consultant and member of the Committee on Monetary Statistics, Board of Governors of the Federal Reserve System. Institute Professor Samuelson consulted with the Board of Governors of the Federal Reserve System, the US Treasury, and the Congressional Budget Office. Professor Charles A. Myers was a member of the National Manpower Policy Task Force. Institute Professor Robert M. Solow served as Deputy Chairman, Federal Reserve Bank of Boston.

Several faculty members have been involved with the National Academy of Sciences and its related organizations. Professor Eckaus prepared a report, Appropriate Technology for Developing Countries, for the Board on Science and Technology for Developing Countries of the National Academies of Science and Engineering. Professor Franklin M. Fisher served on a National Academy panel on the Effects of Deterrence and Incapacitation; Professor Friedlaender was on the Executive Committee, Assembly of Behavioral and Social Sciences, National Research Council; Institute Professor Modigliani was on the Finance Committee; Institute Professor Samuelson served on the Editorial Board of the Proceedings; and Institute Professor Solow chaired the Steering Committee on Environmental Studies.

Professor Eckaus led an OECD Mission to Portugal that included Professors Lance Taylor and Dornbusch.* Professor Paul L. Joskow was a consultant to OECD in energy. Professor Evsey D. Domar was a member of a delegation of economists sent by the American Economic Association to the Soviet Union. Institute Professor Modigliani, who gave much time to the problems of stabilization in Italy, was a member of the Board of Directors of the Italian Council for Social Sciences.

*Along with several graduate students among whom were Paul Krugman, Andrew Abel and Jeffrey Frankel. Paul Krugman has written a short note about this experience with a picture!

The Brookings Institution Panel for Economic Activity included Professors Dornbusch and Hall, with Institute Professors Modigliani, Samuelson, and Solow as senior advisors to it. Professor Friedlaender served on the examining committee, Graduate Records Examination, Educational Testing Service. Institute Professor Modigliani served on the Committee on Economic Stabilization, Social Science Research Council. Professor Fisher is a member of the Board of Governors of Tel Aviv University. Institute Professor Solow continues as Trustee for the Institute of Advanced Study.

RESEARCH

International topics seem to dominate the research interests of the faculty. Professor Bhagwati, in addition to his work in developing countries and international trade theory, has given attention to a proposal for applying taxation to the brain drain. Professor Eckaus studied the role of financial markets and their regulation and the behavior of income distribution in economic development. Professor Taylor had three major areas of research: the development of nutrition planning models in Pakistan, international food aid and reserve policies, and growth and income distribution in Brazil.

Professor Morris A. Adelman’s continuing research on the world oil market, Professor Joskow’s analysis of the international nuclear energy industry, and Professor Martin L. Weitzman’s examination of OPEC and oil pricing involve applied microeconomics with international implications.

Research in various applied microeconomics areas was responsible for the second largest fraction of faculty effort. Institute Professor Solow continued to research the economics of exhaustible resources, and Professor Weitzman completed his analysis of the optimal development of resource pools. Professor Joskow has explored the future of the electric utility industry and its financing, the future of the US atomic energy industry, and the pattern of energy consumption in the US. He is developing a simulation model of the energy industry, and is reviewing the regulatory activities of government agencies in general and the health care sector in particular. Professor Hausman examined the Project Independence Report and is analyzing the choice of new technologies in energy research.

In the transporation field, Professor Friedlaender surveyed the issues in regulatory policy for railroads and alternative scenarios in federal transporation policy. Professor Jerome Rothenberg examined such problems in urban transportation as pricing policies, demand sensitivity to price, and modeling locational effects. Professor William C. Wheaton considered an optimal pricing and investment policy in highways under a gasoline tax.

Inextricably intertwined with urban transportation are questions of urban location and housing. Professor Rothenberg carried out research in such aspects of this problem as microeconomics of internal migration, supply-demand for housing in multizoned areas, the impact of energy costs on urban location, and the development of a model of housing markets and of metropolitan development and location that can be applied to general policy questions. Professor Wheaton developed an equilibrium model of housing and locational choice based on Boston experience.

Institute Professor Modigliani also conducted research on the housing market, but his interest comes primarily from the side of stabilization policies and similar macroeconomic problems. He also participated in a review after 20 years of his life cycle hypothesis of saving, made monetary policy prescriptions for both the US and Italy, reflected on the description of financial sectors in econometric models, and explored more deeply the application of optimal control to the design of optimal stabilization policies in economic models. Institute Professor Samuelson reviewed the art and science of macromodels over the 50 years of their development. Professor Friedlaender completed a quarterly macromodel of the Massachusetts economy. Professor Hall developed a model to deal with income tax changes and consumption.

Public economics has both macro and micro aspects, both of which are represented in the Department’s research. With Visiting Professor James A. Mirrlees, Professor Diamond theorized about public shadow prices with constant returns to scale, and about the assignment of liability. He also has generalized the Ramsey tax rule and continued his research into an optimal Social Security system. Professor Hausman is reexamining the cost of a negative income tax; Professor Rothenberg analyzed the distributional impact of public service provision; and Professor Wheaton explored intertemporal effects of land taxes, fiscal federalism in practice, and the financial plight of American cities.

Besides such theoretical research, there was significant research of an entirely pure nature. Professor Robert L. Bishop reexamined the measurement of consumer surplus. Professor Fisher extended his exploration of the stability of general equilibrium and of aggregate production functions. Professor Weitzman investigated the welfare significance of national product in a dynamic economy. Professor Hal R. Varian further explored the theory of fairness, non-Walrasian equilibria, and macromodels of unemployment and disequilibrium. Professor Hausman examined the econometric implications of truncated distributions and samples, of probit models, and of simultaneous equation models. In historical research, Professor Domar was concerned with serfdom, while Professor Charles Kindleberger investigated the role of the merchant in nineteenth-century technologic transfer.

Publications

Professor Bhagwati edited Taxing the Brain Drain: A Proposal and Brain Drain and Taxation: Theory and Empirical Analysis, and coauthored Foreign Trade Regimes and Economic Development: India. Professors Dornbusch and Kindleberger published numerous papers on implications of the new international monetary exchange structure for exchange rates, price stability, international trade, and international capital movements. Professor Weitzman continued his study of the Russian economy with a paper on the new Soviet incentive model.

With Visiting Professor of Management Ezio Tarantelli*, Institute Professor Modigliani published Labor Market, Income Distribution and Private Consumption (in Italian) and various papers on stabilization policy in Italy. He also wrote papers on inflation and the housing market and edited New Mortgage Designs for Stable Housing in an Inflationary Environment. Professor Hall’s labor market research resulted in papers on persistence of unemployment, occupational mobility, and taxation of earnings under public assistance. Professor Michael Piore wrote on labor market stratification and the effect on industrial growth of immigration from Puerto Rico to Boston. Professor Fisher had several publications on indexation and adjustment of mortgages to inflationary episodes. In the realm of economic history, Professor Temin published Reckoning with Slavery and Did Monetary Force Cause the Great Depression?

*Ezio Tarantelli was the victim of a Red Brigades’ assassination in 1985.

Institute Professor Samuelson published theoretical papers on factor price equalization and trade pattern reversal. In the realm of pure research, he put out papers on nonlinear and stochastic population analysis, optimal population growth, and the optimal Social Security system implied in a lifecycle growth model. He also brought out the tenth edition of his famous text, Economics: An Introduction Analysis.

FACULTY

Visiting Professor John R. Moroney was here from Tulane University; Visiting Professor Mirrlees came in the spring term from Nuffield College, Oxford University. Regular faculty on leave were Professors Fisher and Joskow in the fall and Professor Weitzman in the spring.

It is a pleasure to report the promotion to Associate Professor of Jerry A. Hausman. A new appointee, Professor Jeffrey E. Harris, with the unusual background of an M.D. and a Ph.D. in economics, will provide long-sought coverage in health economics.

Professor Kindleberger will retire as Ford Professor and become a Senior Lecturer on a half-time basis. Since 1948, when he came as an Associate Professor, Professor Kindleberger has been an effective teacher, scholar, participant in faculty governance, and counselor to governments and the public. He has trained the leading international economists of the next generation; he has produced a dozen books and more than a hundred articles in international trade and finance and in economic history. He epitomizes the highest kind of academician.

Several honors were bestowed on members of the Department. Institute Professor Modigliani will complete his year as President of the American Economic Association. Professor Myers received a Distinguished Alumni award from Pennsylvania State University. Professor Fisher was F.W. Paish Lecturer to the Association of (English) University Teachers of Economics. Institute Professor Solow received a D. Litt. from Warwick University, and Institute Professor Samuelson, a D.Sc. from the University of Rochester.

EDGAR CARY BROWN

Source: MIT Libraries, Institute Archives and Special Collections. MIT Department of Economics Records, Box 1, Folder “Annual Report 1975-6”.

Image Source: Building E52, Alfred P. Sloan Jr. Building, later Morris and Sophie Chang Building

 

https://mitmuseum.mit.edu/collections/subject/building-e52-alfred-p.-sloan-jr.-building-later-morris-and-sophie-chang-building-52

Categories
Exam Questions Harvard Industrial Organization Problem Sets

Harvard. Economics of Corporations. Report assignments and final exam. Ripley, 1906-1907

This version of William Ripley’s course on corporations was the fourth time of what would become a standard offering. He was an institutionalist-style economist who wallowed in the utter variety of economic organisations, be they on the side of labor or corporate capital. These did not fit neatly into the perfectly competitive theory of markets. He was interested in larger molecules and not so much in the atoms of economic life.

__________________________

Other Corporations/Industrial Organization Related Posts
for William Z. Ripley

Problems of Labor and Industrial Organization, 1902-1903.

Economics of Corporations, 1903-1904.

Economics of Corporations, 1904-05 (with Vanderveer Custis)

Economics of Corporations, 1914-1915.

__________________________

Course Readings

Cases for the course are most certainly found in Trusts, Pools and Corporations (1905), edited with an introduction by William Z. Ripley. From the series of Volumes Selections and Documents in Economics, edited by William Z. Ripley published by Ginn and Company, Boston.

________________________

Course Enrollment
1906-07

Economics 9b 2hf. Professor Ripley, assisted by Dr. [Stuart] Daggett. — Economics of Corporations.

Total 236: 11 Graduates, 70 Seniors, 103 Juniors, 40 Sophomores, 1 Freshman, 11 Others.

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

________________________

HARVARD UNIVERSITY

1907
ECONOMICS 92

ASSIGNMENT OF REPORTS.

Exact references by title, volume, and page must be given in foot-notes for all facts cited! This condition is absolutely imperative. Failure to comply with it will vitiate the entire report.

GROUP A

Students will report upon the organization and present character of one industrial combination in the United States. This will be indicated by a number, placed against the student’s name on the enrolment slip, which number refers to the industrial combination similarly numbered on this sheet. See directions on last page.

GROUP B

Students will compare the character and extent of industrial control in two different industries in the United States. These are indicated by numbers given below, which are posted against the student’s name on the enrolment slip. The aim should be to point out and explain any discoverable differences in the nature or extent of the industrial monopoly attained in the two industries concerned. Mere description of conditions in either case will not suffice; actual comparison is demanded. The parallel column method is suggested. See directions on last page.

GROUP C

Students will compare industrial combinations in different countries of Europe with one another, or with corresponding ones in the United States. The assignment of industries will be made by numbers, referring to the list below, these numbers being posted against the student’s name on the enrolment slip. Mere description will not be accepted; the student will be judged by the degree of critical comparison offered. Parallel columns may be used to advantage. See directions on last page.

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

The letters preceding the assignment number against the student’s name refer to the group in which the report is to be made. Thus, for example: “31 A” on the enrolment slip indicates that the student is to report upon the American Cotton Oil Co.; “2 & 64 B,” that a comparison of the American Bridge Co. and the United States Leather Co. in the United States is expected; while “59 & 158 C” calls for an international comparison of industrial organizations in thread manufacture as described under Group C.

INDUSTRIAL COMBINATIONS
IN THE UNITED STATES

A star indicates that data will be found in Industrial Commission Reports, Vol. I or XIII.

  1. American Axe and Tool Co., 1889.
  2. American Bridge Co., 1900. (See No. 123.)
  3. American Iron and Steel Mfg. Co., 1899.
  4. American Steel Foundries Co., 1902.
  5. *American Radiator Co., 1899.
  6. *American Sheet Steel Co., 1900. (See No. 123.)
  7. *American Steel and Wire Co. of New Jersey, 1899, (See No. 123.)
  8. American Steel Casting Co., 1894.
  9. *American Steel Hoop Co., 1899. (See No. 128.)
  10. *American Tin Plate Co., 1898. (See No. 123.)
  11. *Federal Steel Co., 1898. (See No. 123.)
  12. International Steam Pump Co., 1899.
  13. *National Shear Co., 1898.
  14. *National Steel Co., 1899. (See No. 123.)
  15. National Tube Co., 1899. (See No. 123.)
  16. *Otis Elevator Co., 1898.
  17. Republic Iron and Steel Co., 1899.
  18. United Shoe Machinery Co., 1899.
  19. United States Cast Iron Pipe and Foundry Co., 1899.
  20. American Beet Sugar Co., 1899.
  21. *American Chicle Co., 1899.
  22. Corn Products Co., 1902.
  23. *American Sugar Refining Co., 1891.
  24. *Glucose Sugar Refining Co., 1897.
  25. *National Biscuit Co., 1898.
  26. National Sugar Refining Co., 1900.
  27. *Royal Baking Powder Co., 1899.
  28. United States Flour Milling Co., 1899.
  29. *American Fisheries Co., 1899.
  30. American Agricultural Chemical Co., 1899.
  31. *American Cotton Oil Co., 1889.
  32. American Linseed Co., 1898.
  33. *Fisheries Co., The, 1900.
  34. *General Chemical Co., 1899.
  35. *National Salt Co., 1899.
  36. *National Starch Manufacturing Co., 1890.
  37. *Standard Oil Co., 1882.
  38. Virginia-Carolina Chemical Co., 1895.
  39. American Shot and Lead Co., 1890.
  40. American Smelting and Refining Co., 1899.
  41. American Type Founders Co., 1892.
  42. *International Silver Co., 1898.
  43. National Lead Co., 1891.
  44. American Malting Co., 1897.
  45. American Spirits Manufacturing Co., 1895.
  46. Kentucky Distilleries and Warehouse Co., 1899.
  47. Pittsburgh Brewing Co., 1899.
  48. St. Louis Brewing Association, 1889.
  49. Standard Distilling and Distributing Co., 1898.
  50. *American Bicycle Co., 1899. (Now Pope Bicyele Co.)
  51. American Car and Foundry Co., 1899.
  52. *Pressed Steel Car Co., 1899.
  53. Pullman Co., The, 1899.
  54. American Snuff Co., 1900.
  55. *American Tobacco Co., 1890.
  56. *Continental Tobacco Co., 1898.
  57. *National Cordage Co., 1887. (See No. 62.)
  58. American Felt Co., 1899.
  59. *American Thread Co., 1898.
  60. American Woolen Co., 1899.
  61. New England Cotton Yarn Co., 1899.
  62. *Standard Rope and Twine Co., 1895. (See No. 57.)
  63. American Hide and Leather Co., 1899.
  64. *United States Leather Co., 1893-1905.
  65. American Straw Board Co., 1889.
  66. American Writing Paper Co., 1899.
  67. International Paper Co., 1898.
  68. *National Wall Paper Co., 1892-1905.
  69. Union Bag and Paper Co., 1899.
  70. United States Envelope Co., 1898.
  71. American Clay Manufacturing Co., 1900.
  72. American Window Glass Co., 1899.
  73. International Pulp Co., 1893.
  74. National Fire Proofing Co., 1899.
  75. *National Glass Co., 1899,
  76. *Pittsburgh Plate Glass Co., 1895.
  77. United States Glass Co., 1891.
  78. American School Furniture Co., 1899.
  79. Diamond Match Co., 1889,
  80. National Casket Co., 1890
  81. United States Bobbin and Shuttle Co., 1899,
  82. American Glue Co., 1894.
  83. American Ice Co., 1899.
  84. American Shipbuilding Co., 1899.
  85. American Soda Fountain Co., 1891,
  86. *General Aristo Co. (Photography), 1899.
  87. Rubber Goods Manufacturing Co., 1899.
  88. United States Rubber Co., 1892.
  89. Allis-Chalmers Co., 1901.
  90. American Cigar Co., 1901.
  91. American Grass Twine Co., 1899.
  92. American Light and Traction Co., 1901.
  93. American Locomotive Co., 1901.
  94. American Machine and Ordnance Co., 1902.
  95. American Packing Co., 1902.
  96. American Plow Co., 1901.
  97. American Sewer Pipe Co., 1900.
  98. American Steel Foundries Co., 1902.
  99. Associated Merchants Co., 1901.
  100. Chicago Pneumatic Tool Co., 1902.
  101. Consolidated Railway Lighting and Refrig. Co., 1901.
  102. Consolidated Tobacco Co., 1901.
  103. Corn Products Co., 1902.
  104. Crucible Steel Co., of America, 1900.
  105. Eastman Kodak Co., 1901.
  106. International Harvester Co., 1902.
  107. International Salt Co., 1901. (Also National Salt Co.)
  108. *Jones & Laughlin Steel Co., 1902.
  109. *National Asphalt Co., 1900.
  110. New England Consolidated Ice Co., 1902.
  111. New York Dock Co., 1901.
  112. Pacific Hardware and Steel Co., 1902.
  113. Pennsylvania Steel Co., 1901,
  114. Railway Steel Spring Co., 1902.
  115. International Mercantile Marine Co., 1902.
  116. Northern Securities Co., 1901. (See Library Catalogue.)
  117. United Box, Board and Paper Co., 1902.
  118. United Copper Co., 1902.
  119. United States Cotton Duck Corporation, 1901.
  120. United States Realty and Construction Co., 1902.
  121. United States Reduction and Refining Co., 1901.
  122. United States Shipbuilding Co., 1902.
  123. American Tobacco Co., 1903.
  124. Central Leather Co.
  125. American Ice Securities Co.
  126. Amalgamated Copper Co.
  127. General Electric Co.
  128. United Shoe Machinery Co.
  129. American Telephone and Telegraph Co.
  130. United Gas Improvement Co.
  131. Interborough-Metropolitan Co.
  132. Mass. Electric Companies.
  133. Mass. Gas Companies.
  134. Philadelphia Rapid Transit Co.
  135. Brooklyn Rapid Transit Co.
  136. N. Y. Consolidated Gas Co.
  137. American Express Co.
  138. Adams Express Co.
  139. United States Steel Corporation; Promotion.
  140. United States Steel Corporation; Financial Development.
  141. United States Steel Corporation; Bond Conversion.
  142. United States Steel Corporation; Relations to Employees.
  143. United States Steel Corporation; Earnings, Quotations and Business.

INDUSTRIAL COMBINATIONS IN EUROPE.

[Consult: Industrial Commission, Vol. XVIII; U.S. Special Consular Reports, Vol. XXI, Part III; and London Economist on England since 1895; Griffin’s Library of Congress List of Books on Trusts, 1902, p. 35; and for the respective countries, Stock Exchange Official Intelligence (Lib 5230.7), Salling’s Börsenpapiere (Lib. 5234.5.2), and Annuaire Général des Sociétés françaises par Action (5232.5), On Germany consult also Kontradictorische Verhandlungen über deutsche Kartelle (Lib., Econ. 3871.1).]

  1. Canadian Iron Founders’ Association. (See Canadian Commission on Trusts, 1888.)
  2. *Bleachers’ Association, England.
  3. *Iron Combination, France.
  4. *Iron Combination, Germany. (Stahlwerkverband.)
  5. *Rhenish-Westphalian Coal Syndicate.
  6. *Spirits Combination, Germany.
  7. *United Pencil Factories’ Company, Germany.
  8. *Portland Cement Manufacturers’ Association, England.
  9. *Bradford Dyers’ Association, England.
  10. *Brass Bedstead Association, England.
  11. *British Cotton and Wool Dyers’ Association.
  12. *British Oil and Cake Mills.
  13. *Calico Printers’ Association, England.
  14. *Wall Paper Manufacturers’ Association, England.
  15. *English Sewing Cotton Co.
  16. *Petroleum Combination, Germany.
  17. *Petroleum Combination, France.
  18. *Sugar Combination, Germany.
  19. *Sugar Combination, Austria.
  20. German Salt Combination.
  21. German Potash Combination.
  22. International Sulphur Trust.

DIRECTIONS.

All books here referred to are reserved in Gore Hall.

First.—Secure if possible by correspondence, enclosing ten cents postage, the last or recent annual reports of the company. Unless they are “listed” on the stock exchanges, no reports will be furnished. P. O. addresses for American corporations will be found in the latest Moody’s Manual of Corporation Securities; in 12th U. S. Census, 1900, Manufactures, Part I, p. lxxxvi; in the latest Investors’ Supplement, N. Y. Commercial and Financial Chronicle; or in the Manual of Statistics.

Second.—In all cases where possible (starred on list) consult Vols. I, XIII, or XVIII, U. S. Industrial Commission Reports. Read appropriate testimony in full, consulting lists of witnesses, Vol. I, p. 1263, and Vol. XIII, p. 979; and also using the index and digests freely. Always follow up all cross references in foot-notes in the digests. Duplicate sets of these Reports are in Gore and Harvard Halls.

Third.—For companies organized prior to 1900 look through the bibliography and index in Halle or Jenks for references; and also in Griffin’s Library of Congress List.

Fourth.—Work back carefully through the files of Moody’s Manual of Corporations and of the Investors’ Supplement, N. Y. Commercial and Financial Chronicle. These Supplements, prior to 1902, are bound in with the regular issues of the Chronicle, one number in each volume. Since 1901 they are separately bound for each year. The Investors’ Supplement will be recognized by its gray paper cover, and must be carefully distinguished from the other supplements of the Chronicle. Market prices of securities are given in a distinct Bank and Quotation Supplement, also bound up with the Chronicle. Having found the company in the Investors’ Supplement, follow up all references to articles in the Commercial and Financial Chronicle as given by volume and page. Also use the general index of the latter, separately, for each year since the company was organized.

The files of Bradstreets should also be used, noting carefully that the index in each volume is in three separate divisions, “Editorials” being the most important. The course of prices is summarized at the end of each year in January Bradstreets, and also in Bulletin U. S. Dept. of Labor, No. 29.

Fifth.—The files of trade publications should also be consulted. Among these are Bulletin of the National Wool Manufacturers’ Association, The Iron Age, Dry Goods Economist, etc. (Boston Public Library.)

Sixth.—Read carefully in the U.S. Census the special reports on industries; and compile all data possible as to the growth and development of the industry in general, by means of statistics of production, exports and imports, number of employees and capital invested.

The course of prices of securities in detail for many companies is given in Industrial Commission Reports, Vol. XIII, p. 918, et seq.

As for the form of the reports all pertinent matter may be introduced, proper references to authorities being given. Particular attention is directed to the extent of control, nature and value of physical plant, mode of selling products and fixing prices, amount and character of capitalization, with the purpose for which it was issued, relative market prices of different securities as well as of dividends paid through a series of years, degree of publicity in reports, etc. Mere history is of minor importance, unless it be used to explain some features of the existing situation.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 1, Folder “Economics, 1906-1907”.

________________________

ECONOMICS 9b
Year-end Examination, 1906-07

  1. Why was the Sherman Act passed when it was? Describe the general situation.
  2. Show how the competition of a large producer — an industrial combination, for example — located at a distance may operate to restrict the market of a smaller independent concern. Can you suggest any remedy; or is it inevitable?
  3. Invent two cases, typical of the most frequent form of controversies at common law, raising the issue of restraint of trade. Develope (sic) the reasoning involved.
  4. What was “an immunity bath”? How was the matter dealt with by Congress?
  5. Meade gives five reasons for the inferior investment value of industrial, as compared with railway bonds. What are they, succinctly stated?
  6. “The principal point is this: in England the promoters’ and middlemens’ profit is added to the nominal capital of a company, whilst in Germany it is added to the price of the shares.” Show the possible effects of this difference upon each party concerned.
  7. What remedies proposed by Attorney General Knox in 1903 (Trusts, Pools, and Corporations, pp. 262-288) have since been enacted into law? Have new solutions been proposed?
  8. Upon which of the three possible theories for the issuance of corporate capital are the laws of the following states based; viz.: (a) Massachusetts; (b) New Jersey; (c) England.
  9. Outline the experience of the American Window Glass Co. in dealing with labor organizations.

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

Image Source: Share of the Standard Oil Company, issued 1. May 1878. FromWikimedia Commons.

Categories
Exam Questions Harvard Labor

Harvard. Enrollment and Final Exam, Labor Problems. Ripley, 1906-1907

This post provides material from William Zebina Ripley’s fifth iteration of his labor economics course at Harvard. A quick search using the usual internet sources that have proven handy for Economics in the Rear-view Mirror picked up a few facts about the teaching assistant for the course who would have been a law student at the time.

__________________________

Meet the course teaching assistant

Edwin DeTurck Bechtel.

b. 19 Aug 1880 in Bechtelsville, Pennsylvania
d. 4. Jul 1957 in Bedford Four Corners, New York

Home: Calcium, Pennsylvania. High School in Reading, Pennsylvania. Recipient of the Price Greenleaf Scholarship.
Source: Harvard University. Annual Report of the President, 1901-02, p. 116.

A.B. (Harvard) 1903, A.M. (Harvard) 1904. ― Resident Graduate Student, 1903-04. ― Student of Social Science at Harvard. Continuing his studies in social science in Europe, as Robert Treat Paine Fellow (1903-04).
Source: Harvard University. Annual Report of the President, 1903-04, p. 157.

Student, Harvard Law School
Source: Harvard University. Annual Report of the President, 1904-05, p. 161.

Worked for theWall Street law firm Carter, Ledyard & Milburn at least as early as December 1916. Represented American Express in London and Paris for some urgent matter in early 1917. (Passport Application from December 21, 1916: includes a signed statement by his sister that the family settled in Pennsylvania prior to 1750). According to his World War II draft registration form (25 Apr 1942), he was still working at the same Wall Street law firm. He died in Bedford Four Corners, New York on July 4, 1957. He became a noted expert on roses.
Source: Items at the genealogical website ancestry.com.

__________________________

Other Labor Related Posts
for William Z. Ripley

Problems of Labor and Industrial Organization, 1902-1903.

Problems of Labor, 1903-1904.

Problems of Labor, 1904-05.

Problems of Labor, 1905-06.

Short Bibliography of Trade Unionism, 1910.

Short Bibliography of Strikes and Boycotts, 1910.

Trade Unionism and Allied Problems, 1914-1915.

Problems of Labor, 1931.

__________________________

Course Enrollment

Economics 9a 1hf. Professor Ripley, assisted by Mr. E. DeT. Bechtel. — Problems of Labor.

Total 100: 8 Graduates, 35 Seniors, 33 Juniors, 18 Sophomores, 6 Others.

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

__________________________

ECONOMICS 9a
Mid-Year Examination, 1906-07

  1. What is the difference between an “Allied Trades Council” and a “Federal Union”? Where are they to be found respectively, and what are their functions?
  2. Is there any difference in principle between the British Workmen’s Compensation Act and the German Compulsory Insurance Acts? If so, what is it?
  3. What are some of the legislative remedies proposed for the abuse of the injunction as applied to labor disputes? Criticise them.
  4. In what respects are American Industrial conditions different from those of the Australian colonies? Do these explain the differences in labor legislation in part? If so, how?
  5. What are the two most tangible results of the Australian labor legislation? Explain how they have come about.
  6. In the Higgling of the Market to determine rates of income, what are some of the advantages, or “bulwarks” as Webb styles them, which are enjoyed by the employer? What offsets has the workman?
  7. In what different ways may the non-union man be dealt with in Collective Bargains? Instance concrete examples.
  8. State briefly, but without discussion, three points in favor of, and three arguments against the German Compulsory Insurance Acts.
  9. What is the attitude of Trade Unionists in general toward incorporation? What substitute for incorporation, which will accomplish the same purpose, can you suggest?

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

Categories
Exam Questions Harvard Money and Banking

Harvard. Exams for Money and Banking. Andrew, 1906-1907

A two course sequence covering money, banking and foreign exchange became an established specialty field at the beginning of the twentieth century. Assistant Professor A. Piatt Andrew covered that field at Harvard.

__________________________

Previous course materials for
Money and Banking 

1900-01 (Meyer and Sprague)
1901-02 (Andrew, Sprague, Meyer)
1902-03 (Andrew’s money exam, Sprague’s banking exam)
1903-04 (Andrew and Sprague)
1904-05 (Andrew’s money exam, Sprague’s banking exam)
1905-06 (Andrew’s money and banking exams)

__________________________

Course Enrollment 1906-07
Money, first semester

Economics 8a 1hf. Asst. Professor Andrew. — Money. A general survey of currency legislation, experience, and theory in recent times.

Total 50: 4 Graduates, 12 Seniors, 22 Juniors, 10 Sophomores, 2 Others.

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

________________________

ECONOMICS 8a
Mid-year Examination, 1906-07

  1. Why was the Latin Monetary Union instituted? Why does it continue to exist? What conclusions of general significance can be drawn from its history?
  2. When may the levying of a seignorage be expected to result in rising prices? Falling prices? Stationary prices?
  3. “It is possible to introduce either a system of bi-metallism which will make prices fall, or one which will make them rise.” Explain these two systems, and show why they would affect prices in such ways.
  4. How is the increasing gold supply likely to affect —
    1. the interests of the working classes?
    2. the prosperity of business?
    3. the income of persons living upon a salary?
    4. the price of real estate?
    5. the price of bonds?
      Explain the reasons in each case.
  5. Explain the character, merits, and defects of —
    (a) the mathematical mean, (b) the geometrical mean, (c) the median, (d) the mode, (e) weighted averages, as methods of measuring changes in the value of money.
  1. “If an ounce of gold, which would be coined into the equivalent of £3 17s 10½ d, is sold for £4 or £5 in paper, the value of the currency has sunk just that much below what the value of a metallic currency would be.” — Mill, II, p. 92. What is your opinion of this statement?
  2. What does Darwin mean by the labor standard? By the commodity standard? Explain the merits claimed for each, and show the exemplification of the two standards in the history of the precious metals between 1873 and 1896. Has either been exemplified in the history of gold or silver since 1896?
  3. Enumerate the different kinds of money now current in the United States, and explain the circumstances and conditions of their issue.

Source: Harvard University Archives. Harvard University. Mid-year Examinations, 1852-1943. Box 7, Bound Volume: Examination Papers, Mid-Years 1906-07. A copy is also found in Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07 (HUC 7000.25), pp. 30-31.

________________________

Course Enrollment, 1906-07
Banking, second semester

Economics 8b 2hf. Asst. Professor Andrew. — Banking and Foreign Exchange.

Total 82: 3 Graduates, 10 Seniors, 32 Juniors, 30 Sophomores, 2 Freshmen, 5 Others.

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

________________________

ECONOMICS 8b
Year-end Examination, 1906-7

Omit one question
  1. Name and characterize briefly the various classes of banks existing in (a) the United States, (b) England, (c) Scotland, (d) France, and (e) Germany.
    Name when possible a few leading examples of each class.
  2. What is meant in England by the official Bank rate, the actual Bank rate, the deposit rate, the market rates?
    Suppose that the official rate is raised from 4% to 5%, to what extent will the other rates probably be affected? and why?
    Would the answer have been different thirty years ago?
  3. In what manner and to what extent does the government derive especial advantage in the way of revenue and of services from the banks in the United States? in England? in Germany?
  4. It has been said that “any amount of credit may be created … so long as the claims held by the bank are based upon actual and salable property.”
    Mention any person or persons to whom one might attribute this opinion. Would you accept it?
  5. Express and illustrate the various circumstances under which American quotations of exchange upon France may (1) exceed, and (2) fall short of the nominal gold points.
  6. In your opinion did Andrew Jackson’s policy work permanent benefit or permanent harm to the banking interests of the country? State reasons.
  7. Explain briefly the innovations made by Secretary Shaw in the relations of the Treasury with the banks, and state your opinion of the general policy involved therein.
  8. What contributions to the development of banking in England were made by the authors of (a) “The Bullion Report,” (b) “Lombard Street”?
    In what ways and how far are the principles there presented applicable to the United States?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07 (HUC 7000.25), pp. 31-32.

Image Source: A. Piatt Andrew’s The Red Roof Guestbook, 1914-1930. Available at the Historic New England Website. Henry Davis Sleeper (Andrew’s neighbor on the left) and A. Piatt Andrew Jr. (right).

Categories
Economic History Exam Questions Harvard

Harvard. Exam for European economic history (19th century). Gay, 1906-1907

Before Abbott Payson Usher (1883-1965) and Alexander Gerschenkron (1904-1978) and after William Ashley (1860-1927), Professor Edwin Francis Gay (1867-1946) taught European Economic history in the Harvard economics department. This post adds to the collection of his examination questions transcribed and posted at Economics in the Rear-view Mirror.

__________________________

Previously posted:
European economic history
taught at Harvard

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.

Gay and Usher’s economic history exams from 1930 through 1949.

__________________________

Course Enrollment
1906-07

Economics 6a 1hf. Professor Gay. — European Industry and Commerce in the Nineteenth Century.

Total 73: 17 Graduates, 20 Seniors, 21 Juniors, 12 Sophomores, 3 Others.

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

__________________________

ECONOMICS 6a
Mid-year Examination, 1906-07

  1. Compare the conditions of land-ownership in England, France and Germany during the first half of the nineteenth century. Explain the differences.
  2. [European tariff policies]
    1. Date the liberal period in the tariff history of the chief European countries.
    2. Why was the English Corn Law repealed?
    3. Give a brief account of the tariff history of Germany since the formation of the Zollverein.
  3. What consequences, according to Chevalier, would follow from the increased production of gold?
  4. [Railroad policies]
    1. When and for what reasons did the states of Germany and Russia obtain ownership of the railroads? What value has their experience for other countries?
    2. State Hadley’s criticism of the English Railway Commission.
  5. Describe briefly the extent, causes and results of the agricultural depression in Europe.

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

Image Source: WikimediaCommons. This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

Categories
Economic History Exam Questions Harvard Suggested Reading Syllabus

Harvard. Reading list and Exam for U.S. Economic History. Gay, 1906-1907

Edwin Francis Gay solo-taught the course on U.S. economic and financial history in 1906-07. He modified and expanded the course reading list from that used in the previous year by him and Taussig, but the structure of the course nonetheless appears to have been essentially unchanged.

__________________________

Previously…

Assistant Professor Oliver Mitchell Wentworth Sprague taught the Harvard course “Economic History of the United States”/ “Economic and Financial History of the United States” in 1901-02 (with James Horace Patten), 1902-03, 1903-04, and 1904-05. The course was taken over in 1905-06 by Frank William Taussig and Edwin Francis Gay after Sprague left for a full professorship at the Imperial University of Japan. The Taussig/Gay reading list and final exam for 1905-06.

__________________________

Course Enrollment
1906-07

Economics 6b 2hf. Professor [Edwin Francis] Gay. — Economic and Financial History of the United States.

Total 112: 20 Graduates, 13 Seniors, 44 Juniors, 25 Sophomores, 2 Freshmen, 8 Others.

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

__________________________

Course Reading List
1906-07

[Library Stamp: “May 13, 1907”]

ECONOMICS: 6b

Required Reading is indicated by an asterisk (*)

1. COLONIAL PERIOD.

*Ashley, Commercial Legislation of England and the American Colonies, Q.J.E., Vol. XIV, pp. 1-29; printed also in Ashley’s Surveys, pp. 309-335.

*Semple, American History and its Geographic Conditions, pp.36-51.

McMaster, History of the People of the United States, Vol. I, pp. 1-102.

Eggleston, Transit of Civilization, pp. 273-307.

Beer, Commercial Policy of England, pp. 5-158.

Rabbeno, American Commercial Policy, pp. 3-91.

Lord, Industrial Experiments in the British Colonies of North America, pp. 56-86; 124-139.

1776-1860.
2. COMMERCE, MANUFACTURES, AND TARIFF.

*Taussig, Tariff History of the United States, pp. 68-154

*Hamilton, Report on Manufactures, in Taussig’s State Papers and Speeches on the Tariff, pp. 1-79, 103-107, (79-103).

Bolles, Industrial History of the United States, Book II, pp. 403-426.

Bishop, History of American Manufactures, Vol. II, pp. 256-505.

Pitkin, Statistical View of the Commerce of the United States (ed. 1835), pp. 368-412.

Gallatin, Free Trade Memorial, in Taussig’s State Papers, pp. 108-213.

Rabbeno, American Commercial Policy, pp. 146-183.

Hill, First Stages of the Tariff Policy of the United States, Amer. Econ. Assoc. Pub., Vol. VIII, pp. 107-132.

3. AGRICULTURE AND LAND POLICY. — WESTWARD MOVEMENT.

*Hart, Practical Essays on American Government, pp. 233-257; printed also in Q.J.E., Vol. I, pp. 169-183, 251-254.

*Hammond, Cotton Industry, pp. 67-119.

*Semple, American History and its Geographic Conditions, pp. 52-74.

Turner, Significance of the Frontier in American History, in Report of Amer. Hist. Assoc., 1893, pp. 199-227.

Donaldson, Public Domain, pp. 1-29, 196-239, 332-356.

Sato, History of the Land Question in the United States, Johns Hopkins University Studies, IV. Nos. 7-9, pp. 127-181.

Sanborn, Congressional Grants of Land in Aid of Railways, Bulletin of Univ. of Wisconsin Econ., Pol. Sci, and Hist. Series, Vol. II, No. 3, pp. 269-354.

Hart, History as Told by Contemporaries, Vol. III, pp. 459-478.

4. INTERNAL IMPROVEMENTS.

*Callender, Early Transportation and Banking Enterprises, Q.J.E., Vol. XVII, pp. 111-162; printed also separately, pp. 3-54.

Tenth United States Census (1880), Vol. IV, Thos. C. Purdy’s Reports on History of Steam Navigation in the United States, pp. 1-62, and History of Operating Canals in the United States, pp. 1-32.

Chevalier, Society, Manners and Politics in the United States, pp. 80-87, 209-276.

Ringwalt, Development of Transportation Systems in the United States, pp. 41-54, 64-166.

Gallatin, Plan of Internal Improvements, Amer. State Papers, Misc., Vol. I, pp. 724-921 (see especially maps, pp. 744, 762, 764, 820, 830).

Pitkin, Statistical View (1835), pp. 531-581.

Chittenden, Steamboat Navigation on the Missouri River, Vol. II, pp. 417-424.

5. FINANCE, BANKING AND CURRENCY.

*Dewey, Financial History of the United States, pp. 75-117, 223-237, 252-262.

*Catterall, The Second Bank of the United States, pp. 1-24, 68-119, 376 map, 402-403, 464-477.

*Bullock, Essays on the Monetary History of the United States, pp. 60-93.

Hamilton, Reports on Public Credit, Amer. State Papers, Finance, Vol. I, pp. 15-37. 64-76.

Kinley. History of the Independent Treasury, pp. 16-39.

Sumner, Andrew Jackson (ed. 1886), pp. 224-249, 257-276, 291-342.

Ross, Sinking Funds, pp. 21-85.

Scott, Repudiation of State Debts, pp. 33-196.

Bourne, History of the Surplus Revenue of 1837, pp. 1-43, 125-135.

Conant, History of Modern Banks of Issue, pp. 310-347.

6. POPULATION AND SLAVERY.

*Cairnes, The Slave Power (2d ed.), pp. 32-103, 140-178.

Hammond, Cotton Industry, pp. 34-66.

Russell, North America, its Agriculture and Climate, pp. 133-167.

De Tocqueville, Democracy in America (ed. 1838), pp. 336-361, or eds. 1841 and 1848, Vol. I, pp. 386-412.

Helper, Compendium of the Impending Crisis of the South, pp. 7-61.

1860-1900.
7. FINANCE, BANKING AND CURRENCY.

*Mitchell, History of the Greenbacks, pp. 3-43, 403-420.

*Noyes, Thirty Years of American Finance, pp. 1-72, 234-254 (73-233).

Taussig, Silver Situation in the United States, pp. 1-157.

Dunbar, National Banking System, Q.J.E., Vol. XII, pp. 1-26; printed also in Dunbar’s Economic Essays, pp. 227-247.

Howe, Taxation and Taxes in the United States under the Internal Revenue System, pp. 136-262.

Tenth United States Census (1880), Vol. VII; Bayley, History of the National Loans, pp. 369-392, 444-486.

8. TRANSPORTATION.

*Hadley, Railroad Transportation, pp. 1-23, 125-145.

*Johnson, American Railway Transportation, pp. 24-68, 307-321, 367-385.

Industrial Commission, Vol. XIX, pp. 466-481.

Adams, Chapters of Erie, pp. 1-99, 333-429.

Davis, The Union Pacific Railway, Annals of the Amer. Acad., Vol. VIII, pp. 259-303.

Villard, Memoirs, Vol. II, pp. 284-312.

Dixon, Interstate Commerce Act as Amended, Q.J.E., Vol. XXI, pp. 22-51.

9. AGRICULTURE AND OPENING OF THE WEST.

*Industrial Commission, Vol. XIX, pp. 43-123, 134-167.

*Noyes, Recent Economic History of the United States, Q.J.E., Vol. XIX, pp. 167-187.

Twelfth United States Census (1900), Vol. V, pp. xvi-xlii.

Hammond, Cotton Industry, pp. 120-226.

Adams, The Granger Movement, North American Review, Vol. CXX, pp. 394-424.

Bemis, Discontent of the Farmer, J. Pol. Ec., Vol. I, 193-213.

10. THE TARIFF.

*Taussig, Tariff History, pp. 156-229.

Stanwood, American Tariff Controversies, Vol. II, pp. 243-394.

Taussig, Iron Industry, Q.J.E., Vol. XIV, pp. 143-170, 475-508.

Taussig, Wool and Woolens, Q.J.E., Vol. VIII, pp. 1-39.

Wright, Wool-growing and the Tariff since 1890, Q.J.E., Vol. XIX, pp. 610-647.

Robinson, History of Two Reciprocity Treaties, pp. 9-17, 40-77, 141-156.

Laughlin and Willis, Reciprocity, pp. 311-437.

11. INDUSTRIAL EXPANSION.

*Twelfth United States Census (1900), Vol. VII, pp. clxx-cxc (note especially the maps and comments on pp. clxx-clxxviii).

*Noyes, Thirty Years of American Finance, pp. 113-126.

Industrial Commission, Vol. XIX, pp. 485-519, 544-569.

Twelfth Census, Vol. IX, pp. 1-16; Vol. X, pp. 725-748.

Wells, Recent Economic Changes, pp. 70-113.

12. COMMERCE AND SHIPPING.

*Meeker, Shipping Subsidies, Pol. Sci. Quart., Vol. XX, pp. 594-611.

Soley, Maritime Industries of the United States, in Shaler’s United States, Vol. I, pp. 518-618.

Meeker, History of Shipping Subsidies, pp. 150-171.

McVey, Shipping Subsidies, J. Pol. Ec., Vol. IX, pp. 24-46.

Wells, Our Merchant Marine, pp. 1-94.

13. INDUSTRIAL CONCENTRATION.

*Willoughby, Integration of Industry in the United States, Q.J.E., Vol. XVI, pp. 94-107.

*Noyes, Recent Economic History of the United States, Q.J.E., Vol. XIX, pp. 188-209.

Twelfth Census, Vol. VII, pp. cxc-ccxiv.

Industrial Commission, Vol. XIII, pp. v-xviii.

Bullock, Trust Literature, Q.J.E., Vol. XV, pp. 167-217.

14. THE LABOR PROBLEM.

*United States Bureau of Labor Bulletins, No. 18 (Sept. 1898), pp. 665-670; No. 30 (Sept. 1900), pp. 913-915; No. 53 (July, 1904), pp. 703-728.

Adams and Sumner, Labor Problems, pp. 3-16, 502-547.

Levasseur. American Workman, pp. 436-509.

Mitchell, Organized Labor, pp. 391-411.

Twelfth Census, Special Report on Employees and Wages, p. xcix.

National Civic Federation, Industrial Conciliation, pp. 40-48, 141-154, 238-243, 254-266.

15. POPULATION, IMMIGRATION
AND THE RACE QUESTION.

*United States Census Bulletin, No. 4 (1903), pp. 5-38.

*Industrial Commission, Vol. XV, pp. xix-Ivii.

Adams and Sumner, Labor Problems, pp. 68-112.

Mayo-Smith, Emigration and Immigration, pp. 38-78.

Walker, Discussions in Economics and Statistics, Vol. II, pp. 417-451.

Hoffmann, Race Traits and Tendencies of the American Negro, pp. 250-309.

Tillinghast, The Negro in Africa and America, pp. 102-228.

Twelfth Census Bulletin, No. 8.

United States Bureau of Labor Bulletins, Nos. 14, 22, 32, 35, 37, 38, 48.

Washington, Future of the American Negro, pp. 3-244.

Stone, A Plantation Experiment, Q.J.E., Vol. XIX, pp. 270-287.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 1, Folder: “Economics 1906-07”.

__________________________

ECONOMICS 6b
Year-end Examination, 1906-07

  1. Describe briefly (not more than five minutes each) :—
    1. Independent Treasury.
    2. Greenbacks
    3. Mills Bill.
    4. Minimum system.
    5. Homestead system.
    6. Chief Canal systems.
  2. Outline succinctly :—
    1. The history and results of the tariff on wool and woolens.
    2. The experience of the United States with reciprocity.
  3. Comment on the following (from Grant’s message of 1870):
    “Building ships and navigating them utilizes vast capital at home; it creates a home market for the farm and the shop; it diminishes the balance of trade against us precisely to the extent of freights and passage money paid to American vessels, and gives us a supremacy of the seas of inestimable value in case of foreign war.”
  4. Compare in its more important features the economic history of the decade 1870-80 with that of the decade 1890-1900.
  5. [International labor migration]
    1. Describe the administration of the alien contract labor law.
    2. What are the present tendencies in the distribution of immigrants?

Source: Harvard University Archives. Harvard University, Examination Papers, 1873-1915. Box 8, Bound vol. Examination Papers 1906-07 (HUC 7000.25), pp. 29-30.

Image Source: Edwin F. Gay, seated in office, 1908. From Wikipedia. Colorized by Economics in the Rear-view Mirror.