Author: Irwin Collier

Harvard. Advanced Economic Theory. Franco Modigliani, 1957-8

Post author By Irwin Collier
Post date 2016-09-06

During the academic year 1957-58 Wassily Leontief was on academic leave from Harvard and Franco Modigliani of the Carnegie Institute of Technology took a leave of absence to accept a visiting professorship filling in for Leontief. From Modigliani’s papers in the Rosenstein Library of Duke University I have been able to piece together outlines and readings for the two semesters of advanced economic theory that he taught.

For the Summer session and Fall semester of 1957 it is possible to construct a topical outline for the first semester of Harvard’s Economics 202 from Modigliani’s own handwritten notes. We see that the outline matches that of the corresponding course “Advanced Economics I” that Modigliani taught in the spring semesters of 1957 and 1959 at his home university, i.e. before and after his year at Harvard. We note some additions and deletions in the readings for Modigliani’s Carnegie Tech courses, but since the outline was not significantly changed, it is reasonable to assume that his Fall Semester reading list at Harvard was some “average” of these two Carnegie Tech courses. A copy of Modigliani’s exam questions for the first semester of Advanced Economic Theory (January 25, 1958) completes the material for the first semester.

For the Spring semester of 1958 we have a cover page to his lecture notes indicating four broad topics to be covered. For three of the topics I found short mimeographed reading lists in another folder in a different box of Modigliani’s papers. For the topic “Money and Keynesian Economics” there is a two page handwritten outline that precedes his lecture notes. I cannot explain why the first semester covers parts I-IV and the second semester apparently begins with part VI.

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Course Enrollment

[Economics] 202. Advanced Economic Theory. Professor Modigliani (Carnegie Institute of Technology). Full Course.

(F) 1 Junior, 1 Senior, 29 Graduates, 4 Radcliffe, 3 Other: Total 38
(S) 1 Junior, 1 Senior, 27 Graduates, 3 Radcliffe, 4 Other: Total 36

Source: Harvard University. Report of the President of Harvard College and Reports of Departments, 1957-58, p. 82.

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Modigliani Outline for Fall Semester, 1957 (Handwritten)

Ec. Analysis I
Summer & Fall 1957 Harvard

Outline

Part I. Methodology.

(A) Subject matter and the areas

(B) The methodology of positive economics and of Welfare economics

Part II. Theory of Demand and application

II(a) Partial Equilibrium Analysis-Demand function and application

(A) The law of demand and the description of demand functions

(1) The law of demand
(2) Cournot formulation. The notion of functions and some mathematics
(3) The slope of demand functions and responsiveness
(4) Criticism of slope as measure of responsiveness
(5) The notion of demand elasticity and its computation
(6) The behavior of total outlays and its relation to η

(B) Application to problem of random supply. Price and income variation and stabilization.

(1) Nature of the model
(2) The case of no costs. Total curves
(3) Graphical computation of MR
(4) η and MR
(5) Fixed costs. Comp. Statics
(6) Effect of Taxes
(7) Introduction of costs. Equilibrium Analysis
(8) Comparative Statics and Taxation

II (b) Utility Analysis

(A) Introduction

(1) Utility and M.U. The Marshallian approach
(2) Shortcoming. The alternative approach.

(B) Indifference Approach

(1) The fundamental postulates
(2) Graphical Representation of tastes
(3) Indifference map and utility function
(4) Slope of I.C.—m.r. of s. and expression in terms of m.u.
(5) Generalizations and the role of two commodities
(6) Types of indifference maps.
(7) The opportunity set. The case of perfect markets
(8) Pathological cases and the law of d.m.r. of s.
(9) Effect of variation in income. Engel curves
(10) Effect of variations in prices. The demand curve
(11) The case of two commodities; income derived from the commodities. Demand and supply.
(12) Generalization to n commodities; complementarity and substitution

(1) Consumers surplus
(2) Elements of Index number theory

II (c) General Equilibrium of Exchange.

(A) Nature of Problem and approach.

(1) What we wish to explain
(2) Nature of model’s assumptions.

(B) The two person, two commodity case.

(1) The Edgeworth Box.
(2) The offer curves
(3) The behavior of excess demand as function of p and competitive equilibrium (normal case) [illegible] market
(4) The relation between E_x and E_y. Walras law.
(5) Multiple intersection of offer curves. Stable and unstable equilbria. The correspondence Principle.
(6) The pure monopoly solutions.
(7) Comparison of competitive and monopoly solution. Welfare maximization.
(8) The Pareto locus and the Weak Welfare ordering.
(9) Necessary and sufficient condition for max. welfare under individualistic welfare function. The [illegible word] feasibility function. Every point on Pareto locus achievable by perfect market, lump sum taxes and subsidies.
(10) Comparative statics.
(11) Uses of Edgeworth Diagram in the study of barter and bilateral monopoly

III. Theory of supply and production

(A) Introduction

(1) Nature of production and relation to consumption and exchange model.
(2) The organization of production and the nature of the firm in the model.
(3) Factors of production; general notions and the classical dichotomy[?]
(4) Profit maximization and the definition of profit.

(B) Production functions and cost functions.

B(I). One output and two inputs.

(1) Three dimensional representation.
(2) A single variable factor. Product curve.
(3) The cost curve

B(II). Two variable inputs

(1) Determination of equilibrium can be broken up into two parts. Cost minimization, and choice of best output along the minimized cost function.
(2) Cost minimization.

[(C) Supply function]

(1) Long run cost functions and returns to scale
(2) The long run supply curve
(3) Short run costs and supply curves

IV. Market Structures.

(A) Classification of Markets

(B) Monopolistic competition.

(1) Equilibrium for the firm
(2) Simultaneous equilibrium of the group.
(3) Essential characteristics of equilibrium in relation to monopoly and perfect competition, welfare aspects.
(4) Relaxation of the pure model.
(5) Forces making for [illegible] higher prices

(1) Duopoly, Cournot solution
(2) Oligopoly and the limit solution as n goes to infinity

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T6. Folder “Economics 1956-57”

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Mimeographed Course Outline,
Carnegie Institute of Technology 1957

February, 1957

GI-581—Advanced Economics I
Course Outline and Major References (Provisional)

I. Methodological issues:

(1) Kaufman — Methodology of the Social Sciences
(2) Friedman — Essays in Positive Economics — Part I
(3) Robbins — The Nature and Significance of Economic Science

II. Theory of Demand and Applications

(A) Partial equilibrium approach — Marshallian Demand functions and applications to simple monopoly.

(B) General equilibrium approach — Utility analysis and indifference curves

(1) Marshall — Principles of Economics, Book III, Ch. III and IV; Mathematical Appendix, Notes II and III
(2) Cournot — The Mathematical Principles of the Theory of Wealth, Ch. IV, V, VI
(3) Bowley — The Mathematical Groundwork of Economics, Ch. I
(4) Hicks — Value and Capital, Part I (pages 12-52) and Part II, ch. IV and V.
(5) Mosak — General Equilibrium Theory in International Trade, Ch. 1 and 2
(6) Samuelson — Foundations of Economic Analysis, Ch. 1, 5, 6, 7
(7) Slutsky — On the Theory for the Budget of the Consumer, Readings in Price Theory
(8) Hicks — Revision of Demand Theory

III. Theory of supply and costs under competitive conditions

(A) Partial equilibrium approach — theory of Rent

(B) General equilibrium approach — production functions and marginal productivity

(D) Some welfare implications

(1) Viner — Cost Curves and Supply Curves, Readings in Price Theory
(2) Stigler — The Theory of Prices
(3) Hicks — Value and Capital, Ch. VI and VII
(4) Mosak — Ch. V
(5) Lerner — The Economics of Control

IV. Imperfect Competition Theories and Market Structures

(A) Theory of monopoly

(B) Small numbers and imperfect competition

(1) Cournot — Ch. 7
(2) Chamberlin — Theory of Monopolistic Competition
(3) Robinson — Economics of Imperfect Competition
(4) Readings in Price Theory, Part V, Imperfect Competition
(5) Hall and Hitch — Price Theory and Business Behavior, Oxford Economic Papers, 1939
(6) Stigler — Notes on the Theory of Duopoly, JPE, 1947, page 521
(7) Fellner — Competition among the Few
(8) Bain — A Note on Pricing in Monopoly and Oligopoly, AER, 1949, page 448
(9) Hurwicz — The Theory of Economic Behavior, Readings in Price Theory
(10) Henderson — The Theory of Duopoly, QJE, December, 1954
(11) Harrod — Economic Essays, The Theory of Imperfect Competition revised
(12) Hicks — The Process of Imperfect Competition, Oxford Economic Papers, 1954
(13) Paul — Notes on Excess Capacity, Oxford Economic Papers, 1954
(14) Hahn — Excess Capacity and Imperfect Competition, Oxford Economic Papers, 1955

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T8. Folder “(Notes on Advanced Monetary Theory III , 1953-1960”.

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Mimeographed Course Outline, Carnegie Institute of Technology 1959

February, 1959

GI-581—Advanced Economics I
Course Outline and Major References

I. Methodological issues:

(1) Kaufman — Methodology of the Social Sciences
(2) Friedman — Essays in Positive Economics — Part I
(3) Robbins — The Nature and Significance of Economic Science

II. Theory of Demand and Applications

(A) Partial equilibrium approach — Marshallian Demand functions and applications to simple monopoly.

(B) General equilibrium approach — Utility analysis and indifference curves.

(D) Basic concepts of Welfare Economics. Index number theory.

(1) Marshall — Principles of Economics, Book III, Ch. III and IV; Mathematical Appendix, Notes II and III
(2) Cournot — The Mathematical Principles of the Theory of Wealth, Ch. IV, V, VI
(3) Samuelson — Foundations of Economic Analysis, Ch. 1, 2, 3, 5, 6
(4) Hicks — Value and Capital, Part I (pages 12-52) and Part II, ch. IV and V.
(5) Slutsky — On the Theory for the Budget of the Consumer, Readings in Price Theory
(6) Hicks — Revision of Demand Theory Parts I and II
(7) Bowley — The Mathematical Groundwork of Economics, Ch. I
(8) Mosak — General Equilibrium Theory in International Trade, Ch. 1 and 2
(9) Boulding — Welfare Economics in Survey of Contemporary Economics, vol. II.

III. Theory of supply and costs under competitive conditions

(A) Partial equilibrium approach — theory of Rent

(B) General equilibrium approach — production functions and marginal productivity

(D) Some welfare implications

(E) Stability of equilibrium — comparative statics and dynamics.

(1) Viner — Cost Curves and Supply Curves, Readings in Price Theory
(2) Stigler — The Theory of Prices
(3) Samuelson — Foundations chs. 4, 9
(4) Lerner — The Economics of Control chs. 15, 16, 17
(5) Hicks — Value and Capital, Ch. VI and VII
(6) Mosak — Ch. V
(7) Cassel — The Theory of Social Economy Vol I. ch. 4, pp. 134-155

IV. Imperfect Competition Theories and Market Structures

(A) Classification of market structures

(B) Theory of monopoly

(D) Oligopolistic competition

(E) The role of the conditions of entry.

(1) Cournot — Ch. 7
(2) Chamberlin — Theory of Monopolistic Competition
(3) Robinson — Economics of Imperfect Competition, Book V.
(4) Readings in Price Theory, Part V, Imperfect Competition
(5) Hall and Hitch — Price Theory and Business Behavior, Oxford Economic Papers, 1939
(6) Stigler — Notes on the Theory of Duopoly, JPE, 1947, page 521
(7) Fellner — Competition among the Few
(8) Hurwicz — The Theory of Economic Behavior, Readings in Price Theory
(9) Henderson — The Theory of Duopoly, QJE, December, 1954
(10) Bain — Barriers to New Competition. Esp. ch. 1, 3, 4, 6.
(11) Modigliani — New Developments on the Oligopoly Front. JPE June 1958, pp. 215-232.
(12) Cyert and March — Organizational Structure and Pricing Behavior in an Oligopolistic Market. AER March 1955, pp. 129-139
(13) Cyert and March — Organizational Factors in the Theory of Oligopoly. QJE Feb. 1956, pp. 44-64

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T8. Folder “(Notes on Advanced Monetary Theory III , 1953-1960”.

Final Examination for GI 581 in 1959 and 1960 has been posted!

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Final Examination Economics 202, Fall Semester (1957-58)

HARVARD UNIVERSITY
Department of Economics
ECONOMICS 202

Answer questions 1, 2, and two of the remaining three. Question 1 will be given double weight.

Assume that the government fixes by law the price of a commodity and hands out to the public ration coupons equal in number to the number of units of the commodity produced. Assume throughout that the supply is perfectly inelastic.

a) Show graphically the opportunity locus of an individual consumer, in terms of the usual indifference diagram, with one of the axes representing money. Under what condition would a consumer not use all of his coupons?

b) Show that consumers would be better off if they were free to buy or sell their ration coupons in a free market.

c) Supposing now that coupons could be bought and sold in a free market, explain how one could derive an individual consumer’s demand curve for coupons. (Hint: the situation is analogous to the consumer being forced to buy his ration of the good at the legal price and then being allowed to sell it or buy more of it on a free market.)

d) Explain the formation of the equilibrium market price of coupons.

e) What can be said as to the relation between the legal price, the price of coupons, and the price which would prevail in the absence of price control and rationing? Under what condition would the sum of the first two be equal to the third?

Wicksell states two alternative conditions under which entrepreneurial profits would be zero:

“…either that large-scale and small-scale operations are equally productive, so that, when all the factors of production are increased in the same proportion, the total product also increases exactly proportionately; or at least that all productive enterprises have already reached the limit beyond which a further increase in the scale of production will no longer yield any advantage.”

Explain the reasoning behind Wicksell’s statement of these conditions. Is either of them sufficient, or must other conditions be added?

Discuss the significance of free entry to the relation of the long-run equilibrium size of the firm to its optimum size.

A profit maximizing monopolist buys factors of production in a perfect market.

a) Discuss the long-run effect on his demand for each of the factors he uses and on his selling price of a tax on one of the factors. (Give a graphic treatment for the case of two factors.)

b) Suppose that one of the two factors is fixed in the short run. Contrast the change in the long-run and short-run demand for both factors when a tax is placed on either.

Evaluate the methodological positions of Friedman and Koopmans. Would an agreement with one as against the other make any difference as to the direction of economic research?

January 25, 1958

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T8. Folder “(Notes on Advanced Monetary Theory III , 1953-1960”.

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[Handwritten cover page to course lecture notes]

ECONOMIC ANALYSIS II
Harvard—Spring 1958
Outline

I. Welfare Economics and Critique of Laisser faire

II. Dynamics with Certainty

III. Theory of Choice Under Uncertainty

IV. Money and Keynesian Economics

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T6. Folder “Economics 1956-57”.

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[Two mimeographed sheets of course outline and readings]

HARVARD UNIVERSITY
Department of Economics
Economics 202

Spring, 1958

VI. Economics of Welfare

Readings:

Lerner, A. P., The Economics of Control, Chap. 1-14 (as a review)

Hicks, J. R., “The Foundations of Welfare Economics,” Economic Journal, Dec. 1939.

Scitovsky, T., “A Reconsideration of the Theory of Tariffs,” Review of Economic Studies, Volume 9, 1941

Samuelson, P., “Evaluation of Real National Income,” Oxford Economic Papers, Jan. 1950

J. de V. Graaf, Theoretical Welfare Economics

Baumol, William J., Welfare Economics and the Theory of the State (omit Ch. 8)

Ruggles, N., “The Welfare Basis of Marginal Cost Pricing,” Review of Economic Studies, Vol. XVII, 1949-50.

Vickrey, W., “Some Objections to Marginal Cost Pricing,” JPE, June 1948

*Burk (Bergson) A., “A Reformulation of Certain Aspects of Welfare Economics,” Quarterly Journal of Economics, Vol. 52, 1938

*Samuelson, P., Foundations of Economic Analysis, Chapter 8

*Koopmans, T. C., Three Essays on the State of Economic Science, I—Allocation of Resources and the Price System.

VII. Dynamics under Certainty

Temporal theory of consumer choice — the notion of interest — inter-temporal equilibrium without production — temporal theory of production and capital — growth

Readings:

Fisher, The Theory of Interest, Chapters II, X, XI, XVI, XVIII.

Hicks, Value and Capital, Chapters IX, X, XI, XV, XVI, XVII, XVIII.

Lutz and Lutz, The Theory of Investment of the Firm, Chapters I-X, XII, XV, XX.

Lindahl, Studies in the Theory of Money and Capital, Part III, Ch. 2, 3.

Samuelson, “Dynamics, Statics and the Stationary State,” in Clemence, Readings in Economic Analysis, Vol. I

Modigliani and Brumberg, “Utility Analysis and the Consumption Function,” in Kurihara, Post-Keynesian Economics.

*Mosak, General Equilibrium Theory, Ch. VI, VII.

*Koopmans, Three Essays on the State of Economic Science, Essay I, part 4, (Pp. 105-126).

VIII. Some Approaches to the Theory of Choice under Uncertainty.

Readings:

Arrow, “Alternative Approaches to the Theory of Choice under Uncertainty in Risk-taking Situations,” Econo metrica, 1951.

Modigliani, “Liquidity and Uncertainty,” (Discussion paper) AER, May 1949

Hart, Anticipations, Uncertainty and Dynamic Planning

Marschak, “Probability in the Social Sciences,” in Lazarsfeld, Mathematics 1 Thinking in the Social Sciences.

Friedman and Savage, “The Utility Analysis of Choice Involving Risk,” in Readings in Price Theory.

Strotz, “Cardinal Utility,” AER, May 1953.

Hart, “Risk, Uncertainty, and the Unprofitability of Compounding Probabilities,” in Readings in the Theory of Income Distribution.

*Herstein and Miller, “An Axiomatic Approach to Measurable Utility,” Econometrica, April 1953.

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T6. Folder “Economics 1956-57”.

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[Handwritten outline preceding notes for fourth part of second semester]

Money and Keynesian Economics
Outline

I. Introduction of uncertainty and money in dynamic general equilibrium framework

II. The supply and demand for money

(A) Supply side. The banking system and bank balance equation

(B) The demand side

(1) The transaction demand. Cambridge and Fisher equations.
(2) The formal closing of system with dichotomy and neutrality. Criticism. No connection between demand for money and demand for anything else. No [illegible] formal money market
(3) The role of interest rate on transaction demand
(4) Liquidity preference and the connection of Money and Bond market. The formal model of these markets in which funds are acquired or disposed of against bonds.
(5) Preservation of dichotomy under certain assumptions: the role of money in real system. Its disappearance with pure bank money and η =1.
(6) Sources of non-transaction or asset demand for money:

(a) Transaction costs on short funds.
(b) The so called speculative demand.

The case of a single short rate [for the supply of money to equal the demand for money] provided r01 >0.
Liquidity trap. No carrying cost, r cannot be negative.
The case of multiple rates. Speculative demand.

(7) The breakdown of the system. The Pigou effect. its implications on extreme fluctuations of price level.
(8) The consequence of price rigidity.

III. The Economics of rigid prices (rigid wages)

(A) Description of labor market and the [illegible]of rigidity.
(B) The emergence [consequence?] of the notion of Income. Capitalism. Property and non-property income
(C) Nature of demand and supply. Consumption and Investment.
(D) Why wage rigidity [illegible]a solution even when r of full employment is negative. Supply falls faster than demand
(E) The four quadrant analysis and its interpretation.

Source: Duke University, Rubenstein Library. Franco Modigliani Papers. Box T6. Folder “Economics 1956-57”.

Image Source: Franco Modigliani page at the History of Economic Thought Website.

Tags Leontief, Modigliani

Bibliography Chicago

Chicago. Public Policy, Reform and Ethics. Frank Knight, 1940

Post author By Irwin Collier
Post date 2016-09-04

Slightly over eleven pages of bibliography for two courses offered in the Fall Quarter of 1940 by Frank Knight on Economics and Social Policy (we would probably say “Public Policy” now) and the Ethics of Social Reform are found in an economics department folder in the papers of the University of Chicago President, Robert Maynard Hutchins. There is no cover letter that explains why a copy of Knight’s Economics 304 classified bibliography should have been sent to President Hutchins.

I just wonder how Knight was able to distill this bibliography into lectures that fit into a single quarter and what was his subset of “required readings” for these courses.

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[Course descriptions]

Economic Theory and Social Policy.—A critical examination of the economic system based on property and competition; its strength and weakness as a mechanism for the reconciliation and promotion of individual and social interests, in comparison with possible alternative types of organization. Prerequisite: Economics 301 [Price and Distribution Theory (Viner)] and 302 [History of Economic Thought (Knight)] or consent of the instructor, Autumn, Tu., Th., 3:30:5:30, Knight.

Ethics and Social Reform (identical with Philosophy 424).—Study of the ethical, methodological, and economic problems involved in the formuation of social policy. Prerequisite: Graduate work in economics, or philosophy, or consent of the instructors. Autumn, W., 7:30-9:30 P.M., Knight, [Charner M.] Perry.

Source: The College and the Divisions for 1940-41. Announcements, The University of Chicago, Vol. XL, No. 10 (April 25, 1949), p. 335.

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C O P Y

Economics 304
Classified Bibliography
Fall Quarter, 1940

I. Methodology

Cohen, Morris R. “The Social Sciences and the Natural Sciences” in The Social Sciences and Their Interrelations, Edited by Ogburn and Goldenweiser, pp. 437-465.

Ibid. Article “Scientific Method,” in the Encyclopedia of the Social Sciences.

Copeland, Morris A. Psychology and the Natural-Science Point of View. Psychological Review 37-6 (Nov., 1930), pp. 461-487.

Ibid. Economic Theory and Natural Science Theory, AER XXI-1 (March, 1931), pp. 67-79.

Encyclopedia of the Social Sciences. Article on Economics. Sections on approaches, various authors.

Hutchinson, T. W. The Significance and Basic Postulates of Economic Theory. See also Knight, F. H.

Keynes, J. N. The Scope and Method of Political Economy.

Knight, F. H. “Economic Theory and Nationalism”, last essay in Ethics of Competition. Part IV of this essay “Social Sciences and Social Action” was reprinted slightly abridged in Int. Jl. of Ethics, XLVI (October, 1935), pp. 1-33.

Ibid. “Nature of Economic Science in Some Recent Discussion” (review article on Ralph William Souter, Prolegomena to Relativity Economics), q.v., AER, XXIV, pp. 225-38.

Ibid. “’What is Truth’ in Economics” (review article on Hutchison, T.W., JPE, XLVIII (Feb., 1940), pp. 1-32.

Ibid. “Professor Parsons on Economic Motivation”, Canadian Jl. of Ec. and P.S. 6-3, (August, 1940), pp. 460-465.

Lundberg, George A. “Is Sociology too Scientific?” 9 (September, 1933), pp. 298-322. Also other writings.

Mayer, Joseph. “The Techniques, Basic Concepts, and Preconceptions of Science and Their Relation to Social Study.” Philosophy of Science 2 (October, 1935), pp. 431-483. Also by the same author “Social Science Methodology,” (Review of Rice Case Book) Journal of Social Philosophy I-4 (August, 1936), pp. 360-81. “Broader Value Concepts in Economics,” Journal of Social Philosophy, V-3 (April, 1940), pp. 250-69.

Nogaro, Bertrand. Le Méthode de L’Économie Politique, (rev. FHK, Annals A.A., Nov., 1939).

Parsons, T. “Some Reflections on the Nature and Significance of Economics”, QJE, XLVIII, (1938) pp. 511-45. (Rev. article on Robbins and Souter, q.v.)

Ibid. “The Motivation of Economic Activity”, Canadian J. of Ec. and P.S., 6-2 (May, 1940), pp. 187-202. See also “Reply to Professor Knight, Can. J. of Ec. and P.S., 6-3 (August, 1940), pp. 466-472.

Rice, Stuart A. (Ed.) Methods in Social Science, Case Book, 1931.

Robbins Lionel. An Essay on the Nature and Significance of Economic Science. (2^nd ed., revised, 1935). (See also Knight rev., Int. Jl. of Ethics, XLIV, pp. 358-61.) (Rev. L. M. Fraser, Ec. J., 42, 1932, pp. 555-570—“How do we want Economists to Behave?”) See also Parsons, Souter.

Souter, Ralph W. Prolegomena to Relativity Economics, 1933. (Cf. Parsons, Knight).

Ibid. “The Nature and Significance of Economic Science” in Recent Discussion, QJE, 47, 1932-3, pp. 377-413.

R= on reserve. PC = private copies at desk.

II. The Modern Economic Order.

See practically any textbook in Principles of Economics.

Clark, J. B. Distribution of Wealth. Especially Chapter I, also Preface.

(R) Knight, F. H. Syllabus for Social Science II, U. of C. (Editions before 1936.) PC

Marshall, Alfred. Principles of Economics. Esp. Bk. I.

(R) Marshall, L. C. The Coordination of Specialists through the Market. (Part 3 of “Industrial Society”)

(R) Roberson, D. H. The Control of Industry.

(R) Slichter, S. H. Modern Economic Society.

Taussig, F.W. Principles of Economics, Vol. 2, Chapters 67 and 68.

(R) Taylor, F. M. Principles of Economics.

III. (and IV.) Criticisms of the Economic Order.

See textbooks on Principles of Economics, relevant chapters; books on socialism by advocates; also “Labor” literature; also later heading “Collectivism.”

(R) Carlyle, T. Past and Present.

(R) Cole, G. D. H. The Simple Case for Socialism. Chap. I.

Davenport, Economics of Enterprise, esp. Chapters 7, 9, 11, 26, and 28.

(R) Davis, Jerome. Capitalism and its Culture.

(R) Hobson, Work and Wealth. (Also other works.)

(R) Laidler, H. W. Socialism in Thought and Action. (Especially Chapters I and II, PC)

Morris, William. News from Nowhere. (And other works.)

(R) Ruskin, John. Crown of Wild Olive. (Also other works.)

(R) Veblen, T. Theory of the Leisure Class; Theory of Business Enterprise, also other works.

(R) Ward, H. F. Our Economic Morality and the Ethic of Jesus.

(R) Webb, S. and B. The Decay of Capitalist Civilization.

V. Note: For Topic V (Ethics: Economic and Political Ideals),
See reading List for Economics 405. next following.

Economics 405

R = reserve, Harper Ell. PC = private copies at Desk, H.Ell.

Acton, Lord. History of Freedom and other Essays.

(R) Albee, E. History of Utilitarianism.

Anderson, B. M., Jr. Social Value. (Summarized in Value of Money, Chapter I.)

Arnold, Matthew. Prose and Poetry. Ed. A.L.Bouton (Scribner’s)

Essays in Division II, Society; Sweetness and Light, etc. P.C.

Ayres, C. E. The Nature of the Relationship between Ethics and Economics.

Ibid. Moral Confusion in Economics, Int. Jl. of Ethics, Vol. XLV (Jan., 1935) pp. 170-199. Also Knight, F. H. “Intellectual Confusion on Morals and Economics,” Int. J. of Ethics, Vol. XLV (Jan., 1935), pp. 200-220. PC (Bound together).

Bagehot, Walter, Physics and Politics.

Bonar, James. Philosophy and Political Economy.

(R) Bosanquet, B. The Philosophical Theory of the State.

(R) Burns, C. Delisle. Political Ideals. PC

(R) Bye, R. T. and Blodgett, R. H. Getting and Earning. (Rev., FHK in Ethics “Economists on Economic Ethics” (Oct., 1937), pp. 98-108.

Carritt, Edgar F. Morals and Politics.

Clarke, Mary E. A Study in the Logic of Value.

(R) Dewey, John. Liberalism and Social Action.

Ibid. Theory of Valuation (Rev., FHK in Am. J. of Soc.)

(R) Dewey and Tufts. Ethics.

Doob, L. The Plans of Man.

Dunning, Wm. A. Political Theories. (Index: Nature, Natural, etc.)

Eliot, T. S. The Idea of a Christian Society.

Elzbacher, E. Anarchism.

(R) Federal Council of Churches. Our Economic Life in the Light of Christian Ideals.

(R) Fosdick, Dorothy. What is Liberty? (Rev., FHK, JPE XLVIII (August, 1940), 586-589.)

Gooch, G. P. Political Thought in England from Bacon to Halifax.

(R) Gore, Charles, Bishop. Property: Its Rights and Duties.

Green, T. H. Lectures on the Principles of Political Obligation (and other writings).

(R) Halévy, E. The Growth of Philosophic Radicalism.

(R) Ibid. Original French edition (La formation du radicalism philosophique), preferable, account omission of notes in translation.)

(R) Hasbach, Wilhelm. Die Allgemeinen philosophischen Grundlagen der…politischen Ökonomie.

Hayek, F. A. V. (Ed.) Collective Economic Planning.

Ibid. Economics and Knowledge, Economica (Feb., 1937).

Herskowitz, M. W. Anthropology and Economics.

(R) Hetherington, J. W. and Muirhead, J. H. Social Purpose.

(R) Hobhouse, L. T. Elements of Social Justice.

Ibid. Liberalism (Home Univ. Lib.)

Ibid. The Rational Good.

Ibid. The Metaphysical Theory of the State.

(R) Ibid. Morals in Evolution. (On reserve in Psychology Lib.)

(R) Hocking, W. E. The Lasting Elements of Individualism. (Rev., FHK, Int. Jl. of Ethics XLVIII (Oct., 1937) pp. 109-116.

Hook, Sidney. John Dewey.

Huxley, T. H. Evolution and Ethics, etc.

(R) Jodl, Friedrich. Geschichte der Ethik.

(R) Knight, F. H. Ethics of Competition. (Especially first two and last essays). Section 4 “Social Science and Social Action” of final essay “Economic Theory and Nationalism” (PC) reprinted in Int. Jl. of Ethics, 46 (October 1936), pp. 1-33.

(R) Ibid. Ethics and Economic Reform. Economica, 1939. I. The Ethics of Liberalism; II. Idealism and Marxism; III. Christianity, published in the issues for February, August, and November, respectively. PC

Levy, Herman. Economic Liberalism.

(R) Lippman, Walter. The Good Society. (Rev., FHK, JPE XLVI (Dec., 1938) pp. 864-872)

Lyon, L. S. Government in Economic Life.

MacIver, Robert M. Society: a textbook of Sociology.

Mackenzie, F. (Ed.) Planned Society.

Mackenzie, J.S. Outlines of Social Philosophy.

Malinowski, B. The Foundations of Faith and Morals.

Marriot, J. A .R. Economics and Ethics.

May, Mark and Doob, L. Competition and Cooperation.

Mayer, Joseph. “Social Science Methodology.” (Rev., of Rice Case Book) Journal of Social Philosophy I-4 (Augusts, 1936), pp. 360-81.

Ibid. Broader Value Concepts in Economics. Journal of Social Philosophy. V-3 (April, 1940), pp. 250-69.

Ibid. Techniques and Basic Concepts of Science and their Relation to Social Study, Philosophy of Science, Vol. 2-4 (Oct., 1935), pp. 431-83.

Mecklin, John M. Social Ethics.

Mezes, S. E. Ethics, Descriptive and Explanatory.

(R) Mill, J. S. Liberty, Utilitarianism, and Representative Government.

(R) Myrdal, Gunnar. Das politische element in der Nat. Ökon. Doktrinbildung.

(R) Osborne, H. Foundations of the Theory of Value.

Parsons, T. The Structure of Social Action.

(R) Ibid. The Place of Ultimate Values in Sociological Theory. Int. Jl. of Ethics, Vol. XLV (April, 1935), pp. 282-316. PC

Paulsen, Friedrich. A System of Ethics.

Perry, Charner M. “The Arbitrary as Basis for Rational Morality” Int. Jl. of Ethics, Vol. XLIII (Jan., 1933), pp. 127-144. Criticisms by various authors.

(R) Ibid. Knowledge as a Basis for Social Reform, Int. Jl. of Ethics, XLV (April, 1935), pp. 253-281. PC

Perry, R. B. The General Theory of Value. Discussion in Int. Jl. of Ethics, 40 (1930) 465-95. By various critics. Also other writings.

Pipkin, C. W. The Idea of Social Justice.

(R) Pound, R. Law and Morals.

Ibid. Introduction to the Philosophy of Law.

Ibid. The Limits of Legal Action. Int. J. Ethics. PC

Ibid. Articles in Encyclopedia of Social Sciences “Jursprudence”; “Common Law,” “Contract.”

Pribram, Karl. Die Entstehung der individualistischen Sozial-philosophie.

Radcliffe-Brown, A. R. The Functional Approach in Anthropology (?)

Rashdall, Hastings. Theory of Good and Evil.

Ibid. Ethics (Peoples’ books).

(R) Ritchie, D. G. Natural Rights

(R) Russell, Bertrand. Power. (Rev., FHK “Bertrand Russell on Power.” Ethics, XLIX (April, 1939), pp. 253-285 PC)

(R) Sabine, George H. History of Political Theory. (Especially Chapter XXXI on Liberalism, Chs. VIII, XXI on Natural Law; Index, Freedom, Natural Law, Utilitarianism.)

Schiller, F. C. X. Article “Value” in Hastings Encyclopedia of Religion and Ethics.

Schmoller, Gustav. The idea of Justice in Political Economy. Annals of the A.A., Vol. IV-5 (March 1894) pp. 1-41.

Seth, James. Ethical Principles.

Sidgwick, Henry. Methods of Ethics.

Ibid. Elements of Politics.

Spann, O. The History of Economics.

(R) Spencer, H. Man versus the State

(R) Ibid. Data of Ethics.

(R) Stamp, Josiah (Lord). Christianity and Economics. (Rev., FHK Ethics. Vol. L-2 pp. 226-27.

Ibid. Motive and Method in a Christian Social Order.

Stephen, Sir Leslie. The English Utilitarians. Three volumes.

Sutherland, Alexander. Origin and Growth of the Moral Instinct.

Taylor, A. E. The Problem of Conduct.

Thilly, Frank. Ethics.

Urban, W. M. Valuation.

Ibid. Article “Value Theory and Esthetics” in Schaub, Philosophy Today. (Also other articles.)

Wallas, Graham. The Great Society.

(R) Ward, Harry F. Our Economic Morality and the Ethic of Jesus. (For Econ. 304.)

Ward, Leo R. (C. S. C.) Philosophy of Value. (Valuable for Bibliography.)

Westermarck, Edward. Origin and Development of the Moral Ideas.

Wissler, Clark. Man and Culture.

Wootton, B. Plan or no Plan.

ECONOMICS 304
VI. CO-OPERATION

Encyclopedia of Social Sciences Article. Sections by various authors. Use for Bibliography.

Fay, C. R. Co-operation at Home and Abroad.

Warbasse, Peter. Various writings. (Leading American apostle of co-operation.)

Woolf, Leonard S. Co-operation and the Future of Industry.

VII. POLITICO-LEGAL ACTION; GENERAL THEORY

Encyclopedia of Social Sciences. Articles on “Political Science,” (by Hermann Heller) and on “Politics” (by Lindsay Rogers). See cross references and bibliographies.

Pound, Roscoe. Law and Morals.

Ibid. Introduction to the Philosophy of Law.

Ibid. Limits of Legal Action, Int. Jl. of Ethics. XXVII (Jan., 1917), pp. 150-167. PC

Clark, J. M. Social Control of Business. Part II.

VIII. GOVERNMENT REGULATION OF BUSINESS

Backman, Jules. Government Price-Fixing.

Ibid. Articles

Blaisdell, Thomas C. The Federal Trade Commission

Childs, Marquis W. Sweden: The Middle Way.

Clark, J. M. Social Control of Business. Especially Part III.

Ibid. Preface to Social Economics.

Hardy, C. O. (et al) Wartime Control of Prices.

Hawtrey, R. G. The Economic Problem.

Herring, E. Pendleton. Public Administration and the Public Interest.

Lippincott, Benjamin E. (ed.) Government Control of the Economic Order.

Lippmann, Walter. The Good Society.

Lyon, Abramson, and Watkins and Associates. Government in Economic Life.

Lyon, L. S. and Others. The National Recovery Administration.

National Industrial Conference Board. (Myron W. Watkins) Public Regulation of Competitive Practices.

Pigou, A. C. Economics of Welfare. Chaps. in Part III.

Robertson, D. H. Control of Industry.

Soltau, R. H. The Economic Functions of the State.

Salter, Sir Arthur. The Framework of an Ordered Society.

Davis, Joseph S. On Agricultural Policy, 1926-1938. (1939, pp. 494)

Black, John D. Agricultural Reform in the United States. (1929, pp. 511).

IX. TAXATION AND RELIEF

Encyclopedia of the Social Sciences Articles on “Public Finance” (by E. R. A. Seligman) and “Taxation” (by R. M. Haig). “Inheritance Taxation” (by Wm. J. Schultz). “Income Tax” (by E. R. A. Seligman). See Cross Reference and Bibliographies.

Ibid. Articles on “Charity” (by K. L. M. Pray); “Institutions, Public” (by S. P. Breckenridge), “Public Welfare” (by E. C. Lindeman). “Poor Laws” (by Ch. W. Pipkin). See Cross References, Bibliographies.

Bastable, C. F. Public Finance.

Brown, Harry G. Economics of Taxation.

Douglas, Paul H. Social Security in the United States. (1936, 384 pages)

Epstein, A. Insecurity, a Challenge to America.

Pigou, A. C. Economics of Welfare. Chaps. in Part IV.

Ibid. A Study in Public Finance.

Seligman, E. R. A. Essays in Taxation.

Simons, H. C. Personal Income Taxation.

Warner, A. G., Queen, S. A., and Harper, E. B. American Charities and Social Work.

Wedgewood, Josiah. The Economics of Inheritance.

Woodbury, R. M. Social Insurance and Economic Analysis.

Commerce Clearing House. Social Security Act as Amended 1939.

X. COLLECTIVISM: ECONOMIC PLANNING

Balogh, T. H. The National Economy of Germany. E. J. 48 (1938), pp. 461-497. PC

Cole, G. D. H. Principles of Economic Planning.

Ibid. The Simple Case for Socialism

Dickinson, H. D. The Economics of Socialism.

Ibid. Price Formation in a Socialist Community. Ec. J. 43 (1933) pp. 237-250. PC

Dobb, M. Political Economy and Capitalism: Some Essays in Economic Tradition. (1937, pp. 360). (Rev. A. P. Lerner, JPE, Aug., 1939. Reply and Rejoinder JPE, April, 1940).

Durbin, E. F. M. Economic Calculus in a Planned Economy, Ec. J. 48 (1938) pp. 676-690. PC

Florinsky, M. T. Fascism and National Socialism.

Hall, R. L. The Economic System in a Socialist State. (Rev. F. H. Knight in JPE April, 1938, pp. 241-50—with Pigou.)

Hayek, F. A. v. (Ed.) Collectivist Economic Planning.

Ibid. Freedom and the Economic System. (Pub. Policy Pamph. 29)

Knight, F. H. The Place of Marginal Economics in a Collectivist System. AER, Supp. 36 (March, 1936), pp. 255-266. PC

Ibid. Socialism: The Nature of the Problem. Ethics 50 (April, 1940), pp. 253-289.

Lange, Oskar and Taylor, Fred M. On the Economic Theory of Socialism. (Lange articles previously published Rev. Ec. Studies, Vol. IV.; Taylor, AER, 19 (March, 1929), pp. 1-8.

Loucks, W. N. and Hoot, J.W. (Eds.) Comparative Economic Systems.

Mackenzie, Findlay. Planned Society.

Martin, P. W. “Some Aspects of Economic Planning.” in Economic Essays in Honor of Mitchell, pp. 315-354.

Mises, L. von. Socialism.

Pigou, A. C. Socialism versus Capitalism. (Rev. F. H. Knight, JPE April, 1935.

Robbins, Lionel. Economic Planning and International Order.

Soule, George. A Planned Society.

Speier, Hans. Freedom and Social Planning, Am. Jl. Soc. (Jan., 1937)

Sutton, E. The Relation between Economic Theory and Economic Policy. PC

Sykes, E. R. Contemporary Economic Systems.

Welk, Wm. G. Fascist Economic Policy.

Westmeyer, R. E. Modern Economic and Social Systems.

Wootton, Barbara. Plan or no Plan. (F. H. Knight rev. “Barbara Wootton on Economic Planning,” JPE XLIII (Dec., 1935), pp. 809-14.

Source: University of Chicago Archives. Office of the President. Hutchins Administration Records. Box 72, Folder 9 “Economics Department, 1939-1943”.

Image Source: University of Chicago Photographic Archive, apf1-03515, Special Collections Research Center, University of Chicago Library.

Tags Knight

Harvard Suggested Reading

Harvard. Debate Briefs on Immigration, ca. 1886-96

Post author By Irwin Collier
Post date 2016-09-01

A few posts ago I provided a short selection from Harvard Professor Thomas Nixon Carver’s autobiography that reminded me of the current Republican U.S. Presidential candidate’s immigration policy. I must still have had Donald Trump on the mind when I stumbled upon a book of model debate briefs for issues of the late 19th/early 20th century. One might want to first watch the speech Donald Trump gave on immigration policy last night (August 31, 2016) in Phoenix, Arizona and then examine the debate briefs below for the following three resolutions:

Resolved, That immigration should be further restricted by law.

Resolved, That a high tax should be laid on all immigrants to the United States.

Resolved, That the policy excluding Chinese laborers from the United States should be maintained and rigorously enforced.

Zombie ideas are everywhere.

_______________________

Briefs for Debate on Current Political, Economic, and Social Topics.

Edited by
W. Du Bois Brookings, A.B. of the Harvard Law School
And
Ralph Curtis Ringwalt, A.B.
Assistant in Rhetoric in Columbia University

With an introduction by Albert Bushnell Hart, Ph.D.
Professor of Harvard University.

[Rerpinted in 1908]

[From the Preface:]

“The basis of the work has been a collection of some two hundred briefs prepared during the past ten years [ca. 1886-96] by students in Harvard University, under the direction of instructors. Of these briefs the most useful and interesting have been selected; the material has been carefully worked over, and the bibliographies enlarged and verified….

…” the brief is a steady training in the most difficult part of reasoning; in putting together things that belong together; in discovering connections and relations; in subordinating the less important matters. The making of a brief is an intellectual exercise like the study of a disease by a physician, of a case by a lawyer, of a sermon by a minister, of a financial report by a president of a corporation. It is a bit of the practical work of life.

RESTRICTION OF IMMIGRATION.

Question: ‘Resolved, That immigration should be further restricted by law.’

Brief for the Affirmative.

General references:

New-York Tribune (May 17, 1891);
Congressional Record, 1890-1891, p. 2955 (February 19, 1891);
Political Science Quarterly, III., 46 (March, 1888), 197 (June, 1888); IV., 480-489 (September, 1889);
J. A. Riis, How the Other Half Lives;
Richmond Mayo-Smith, Emigration and Immigration;
North American Review, Vol. 152, p. 27 (January, 1891);
Atlantic Monthly, LXXI., 646 (May, 1893);
Public Opinion, XVI., 122 (November 9, 1893);
F. L. Dingley on European Emigration, United States Special Consular Reports, 1890, II., 211.

I. There is no longer any necessity for immigration:

Congressional Record, 1890-1891, p. 2955.

II. Immigration has led to many bad effects.

(a) Political.

(1) Large proportion of adults gives too great voting power:

Emigration and Immigration, p. 79.

(2) Our degraded municipal administration due to it:

Emigration and Immigration, p. 87.

(b) Economic.

(1) Immigrants offset what they produce by remittances home.

(2) Nearly half the immigrants are without occupation and this ratio is still increasing:

Congressional Record, 1890-1891, p. 2955.

(3) There is already a large unemployed class of native laborers:

Emigration and Immigration, p. 127.

(4) Displacement of American labor:

Congressional Record, 1890-1891, p. 2955.

(5) By classes used to a lower standard of living.

(6) Introduction of the system:

How the Other Half Lives, pp. 121-123.

(c) Social effects.

(1) Our high rates of mortality, vice, and crime are due to immigration:

Emigration and Immigration, p. 150.

(2) Immigration the prevailing cause of illiteracy in the United States:

Emigration and Immigration, p. 161.

III. The present laws are insufficient.

(a) Diseased persons are allowed entrance:

Congressional Record, 1890-1891, p. 2955.

(b) Agents for steamship lines induce men to emigrate.

(c) Pauper laws admit immigrants possessing less than the average wealth of residents:

Emigration and Immigration, p. 101.

Brief for the Negative.

General references:

North American Review, Vol. 134, p. 347 (April, 1882); Vol. 154, p. 424 (April, 1892); Vol. 158, p. 494 (April, 1894);
Journal of Social Science, 1870, No. 2;
Forum, XIII., 360 (May, 1892).

I. The policy of the United States in regard to immigration has been successful and its continuance is necessary to develop the resources of the country:

Lalor’s Cyclopaedia, II., 85-94.

II. Immigration is an advantage to the country:

North American Review, Vol. 134, pp. 364-367.

(a) The prosperity brought by immigrants.

(b) The addition to the national power of production.

(c) The money value of the immigrants as laborers.

III. The interests of American labor do not suffer by immigration:

Westminster Review, Vol. 130, p. 474 (October, 1888);
J. L. Laughlin in International Review, XI., 88 (July, 1881).

(a) Immigrants form ‘non–competing groups.’

(b) Are ultimately Americanized.

IV. The present immigration laws are satisfactory:

Supplement to the Revised Statutes of the United States, 1874-1891, I., Chap. 551;
Nation, XLV., 518 (December 29, 1887).

(a) The worst class of immigrants is excluded.

(b) The interests of American labor are fully protected.

(c) More stringent regulations, even if desirable, could not be enforced.

_______________________

A TAX ON IMMIGRANTS.

Question: ‘Resolved, That a high tax should be laid on all immigrants to the United States.’

Brief for the Affirmative.

General references:

Richmond Mayo-Smith, Emigration and Immigration;
Forum, XI., 635 (August, 1891); XIV., 110 (September, 1892);
Andover Review, IX., 251 (March, 1888);
Yale Review, I., 125 (August, 1892);
Congressional Record, 1890-1891, p. 2955 (February 19, 1891);
Political Science Quarterly, III., 46 (March, 1888), 197 (June, 1888); IV., 480-489 (September, 1889);
North American Review, Vol. 152, p. 27 (January, 1891);
J. A. Riis, How the Other Half Lives;
F. L. Dingley on European Emigration, in United States Special Consular Reports, 1890, II., 211;
House Miscellaneous Documents, 1887-1888, No. 572, part 2, Report on Importation of Contract Labor.

I. Immigration should be further restricted.

(a) On social grounds.

(1) The proportion of paupers, diseased, and criminal, is great.

(b) On economic grounds.

(1) No longer needed to develop the country:

Popular Science Monthly, XLI., 762 (October, 1892).

(2) The lower wages and the standard of living:

Forum, XIV., 113 (September, 1892).

(3) Unskilled occupations are already overcrowded:

Emigration and Immigration, pp. 117-122.

(c) On political grounds.

(1) The immigrants do not understand our institutions.

(2) They become tools of machine politicians:

Emigration and Immigration, pp. 79-88.

(3) They form communities by themselves.

(d) The dangers are increasing.

(1) The immigrants congregate in cities more than formerly:

Emigration and Immigration, pp. 69-70.

(2) The character of the immigrants is deteriorating:

Yale Review, I., 132.

II. A high tax would stop undesirable immigration.

(a) It would make impossible the sending of undesirable classes.

(1) Paupers.
(2) Convicts.
(3) Contract laborers.
(4) Shiftless and ignorant persons whom agents of steamship companies induce to come:

Yale Review, I., 132.

(b) The Italians and Slavs can barely raise the passage money, and they could not raise the tax.

(c) Tax would not keep out the desirable immigrants, such as Germans, Swedes, and Irish.

(1) They bring enough money to pay the tax.

III. A tax is the simplest effective restriction.

(a) It cannot be evaded.

(b) It is the surest practical guarantee of the qualities desired:

Yale Review, I., 141.

(c) It is a just means.

(1) One immigrant is worth to the country one hundred dollars:

Political Science Quarterly, III., 204-207 (June, 1888).

(2) Per capita wealth of the United States is one thousand dollars.

(3) The immigrant should pay to be admitted to the wealth and privileges of this country.

Brief for the Negative.

General references:

Westminster Review, Vol. 130, p. 474 (October, 1888);
North American Review, Vol. 134, p. 347 (April, 1882); Vol. 154, p. 424 (April, 1892); Vol. 156, p. 220 (February, 1893);
Forum, XIII., 360 (May, 1892);
Lalor’s Cyclopedia, II., 85;
Friedrich Kapp, ‘Immigration,’ in Journal of Social Science, 1870, No. 2, pp.21-30.

I. A continuance of immigration is desirable:

Forum, XIV., 601 (January, 1893);
Public Opinion, III., 251 (July 2, 1887); XIV., 297 (December 31, 1892).

(a) There is need of laborers in the South and West:

North American Review, Vol. 134, p. 350 (April, 1882).

(b) Voluntary immigrants are thrifty and active:

Political Science Quarterly, III., 61 (March, 1888).

(c) The troublesome and mischievous immigrants are a small part of the whole:

Nation. XLV., 519 (December 29, 1887);
Forum, XIV., 605-606.

II. The present immigration laws are sufficient:

Public Opinion, III., 249;
Supplement to the Revised Statutes of the United States, 1874-1891, I., Chap. 551.

(a) Laws now exclude paupers, criminals, insane people, and persons liable to become a public charge, as well as imported labor.

(b) Immigration is practically self-regulating:

Forum, XIV., 606.

III. The proposed measure of a high tax is undesirable.

(a) It would literally mean prohibition, which is a complete reversal of American policy.

(b) It would be unjust.

(1) It would debar families from emigrating.

(2) It would discriminate against the peasant class, women and the younger men, who are often the most desirable immigrants.

(c) It is impracticable:

Political Science Quarterly, III., 420.

(1) It would be difficult to collect the tax:

Forum, XIII., 366 (May, 1892).

(2) Our extensive frontiers would make the law perfectly useless.

(d) It would create an undesirable class of immigrants.

(1) Those who evaded the laws would be an adventurous, restless element.

(2) Those who paid the tax would be embittered by our narrow policy.

_______________________

THE EXCLUSION OF THE CHINESE.

Question: ‘Resolved, That the policy excluding Chinese laborers from the United States should be maintained and rigorously enforced.’

Brief for the Affirmative.

General references:

Forum, VI., 196 (October, 1888);
North American Review, Vol. 139, p. 256 (September, 1884); Vol. 157, p. 59 (July, 1893);
Overland Monthly, VII., 428 (April, 1886);
Scribner’s Monthly, XII., 862 (October, 1876);
J. A. Whitney, The Chinese and the Chinese Question.

I. The Chinese are a source of danger to American civilization.

(a) Morally.

(1) Barbarity of Chinese character:

The Chinese and the Chinese Question, p. 21.

(2) Inhuman treatment of women.

(3) Practice of gambling.

(4) Degraded religion:

Forum, VI., 201.

(5) Utter disregard for oaths.

(6) Criminality:

Scribner’s Monthly, XII., 862.

(b) Socially.

(1) Unhealthy mode of living.

(2) Impossibility of amalgamation:

Overland Monthly, VII., 429.

(3) Contamination through opium smoking, leprosy, and small-

pox.

(4) Dangers to American youth of both sexes.

(c) Politically.

(1) Inability and unwillingness to become citizens:

Senate Reports, 1876-1877, No. 689.

(2) Refusal to obey our laws.

(3) Secret system of slavery:

Scribner’s Monthly, XII., 860-865.

(d) Economically.

(1) Impossibility of competition with Chinese.

(2) Gradual encroachment on all occupations.

(3) Does away with the Middle class of artisans and results in the concentration of capital:

Forum, VI., 198;
North American Review, Vol. 139, pp. 257, 260-273.

II. Exclusion furnishes-the best remedy.

(a) It is constitutional under decision of Supreme Court:

Fong Yue Ting v. U. S., 149 U. S., 698.

(b) It will not materially affect our commercial relations with China.

(c) It is beneficial to the Chinamen who are legally in the United States.

(d) It is practicable.

(1) Rules are simple and can be readily complied with or enforced.

Brief for the Negative.

General references:

Nation, LVI., 358 (May 18, 1893);
Forum, XIV., 85 (September, 1892); XV., 407 (June, 1893);
North American Review, Vol. 148, p. 476 (April, 1889); Vol. 154, p. 596 (May, 1892); Vol. 157, p. 52 (July, 1893);
Nation, XXVIII., 145 (February 27, 1879);
Scribner’s Monthly, XIII., 687 (March, 1887);
Nation, XXXIV., 222 (March 16, 1882);
Overland Monthly, VII., 414 (April, 1886); XXIII., 518 (May, 1894);
Richmond Mayo-Smith, Emigration and Immigration, Chap. xi.

I. The exclusion of the Chinese is at variance with fundamental American principles:

Nation, XXXIV., 222.

(a) It is contrary to the spirit of the Constitution:

Constitution of the United States, Amend. XV.

(b) It is founded on race prejudice.

Forum, XV., 407; XIV., 85-90.

II. Chinese immigration is no menace to American interests.

(a) The Chinese do not immigrate in large numbers.

(b) They do not multiply after their arrival.

(c) They take only money—and little of that—out of the country, and leave finished products.

(d) They compete with unskilled labor and do not affect the wages of skilled labor.

(e) They are honest, industrious, peaceable, and frugal.

(f) They form but a small element in political life, and the fact that they are not citizens makes them less dangerous than other immigrants.

III. The policy of exclusion is harmful.

(a) It injures good feeling between the two countries.

(b) It menaces commerce:

Forum, XIV., 87-88.

(1) China may retaliate any time.

(c) It discourages missionary work.

(d) It deprives the United States of effective labor suitable for large enterprises.

(1) Work on transcontinental railroads.

(2) In mines.

(3) Farming.

(4) Construction of irrigation works.

IV. The difficulty in enforcing the legislation makes it impracticable.

(a) The penalty for violation has no terrors for the Chinese immigrant:

Popular Science Monthly, XXXVI.,185 (December, 1889).

(b) Many citizens oppose the legislation.

(c) It has failed thus far.

Source: W. Du Bois Brookings and Ralph Curtis Ringwalt, eds., Briefs for Debate on Current Political, Economic, and Social Topics. New York: Longmans, Green, and Co., 1908, pp. 68-75.

Image Source: F. Victor Gillam, “The immigrant. Is he an acquisition or a detriment?” Illustration in Judge (September 19, 1903). Library of Congress, Prints and Photographs Division, Washington, D.C. 20540 USA.

Tags Laughlin, Mayo-Smith

Chicago Exam Questions Fields

Chicago. Ph.D. Exam for Money, Banking and Monetary Policy, 1946

Post author By Irwin Collier
Post date 2016-08-29

This transcribed Ph.D. examination for Money, Banking and Monetary Policy comes from a copy of the exam in the papers of Norman Kaplan at the University of Chicago archives. According to the Course Announcements, this field was covered by four quarter courses: both Money (330) and Banking Theory and Monetary Policy (331), and either The Theory of Income and Employment (335) or Business-Cycle Theory (432). In 1945-46 the first two courses were taught by Lloyd Mints. Jacob Marschak and Oscar Lange were scheduled to teach Economics 335 and 432, respectively, but I believe Lange was away that year in Washington, D.C. In any event the questions reveal emphasis on the material covered by Mints.

_________________________

MONEY, BANKING AND MONETARY POLICY
Written examination for the Ph.D.

Autumn Quarter, 1946

Time: 4 hours. Answer all questions.

Discuss the effect of tax reduction on employment.
Discuss the comparative advantages of fixed and flexible foreign exchange rates.
A newspaper story of Jan. 21, 1946, on President Truman’s budget message, had the following headlines and first two paragraphs:

“TRUMAN MAPS FIRST DEBT CUT SINCE 1930
CASH ON HAND TO OFFSET ’47 DEFICIT.

“Washington—President Truman’s first budget proposes to spend $4,300,000,000 more that the government will collect, but for the first time since 1930, it won’t increase the national debt.
“Mr. Truman proposes to withdraw from the Treasury sufficient funds no only to offset this deficit but also to reduce the debt by $7,000,000,000.”

Discuss the monetary effect of this budget proposal. Would one expect the proposed debt cut to be deflationary or inflationary? Why? How would the effect compare with such alternatives as refunding the debt? Borrowing more to add to cash balances?

The average amount of money (deposits plus hand-to-hand currency) in circulation in 1929 was $55 billion. At present (1946) the stock of money is $170 billion, or approximately three times the $55 billion of 1929. If we assume that the volume of transactions would normally (with a continued high level of employment) increase at the rate of 4% per annum, the volume of transactions in 1947, with a high level of employment, would then be approximately twice that of 1929 (1 compounded annually at the rate of 4% for 18 years amounts to 2.03). If we then assume that velocity will be the same in 1947 as it was in 1929, and that the stock of money will be the same in 1947 as in late 1946, we have approximately the following index numbers for 1947, using 1929 as a base:

M = 3.0
V = 1.0
T = 2.0

Therefore P = 1.5

Discuss the reasonableness of the various assumptions made in this analysis and of 1.5 as the possible index of the price level in 1947. Is there any good reason for using 1929 as the base year rather than, say, 1940?

The following statement, made in a recent CED [Committee for Economic Development] monograph, refers to the high post-war level of holdings of cash and government bonds by the public as compared with pre-war holdings:

“It is sometimes implied that the liquid assets will disappear as they are used. But money is not extinguished by use; it simply passes from the hand of the buyer to the hand of the seller. The use of liquid assets by some members of the public to buy goods, services, or securities from other members of the public will not reduce total liquid-asset holdings but only transfer their ownership.”

Suppose the liquid assets were used to such an extent as to bring on a substantial rise in the price level. Does the fact that they are not extinguished by use imply that the danger, from this source, of a further rise in prices would be unchanged?

Source: University of Chicago Archives. Norman M. Kaplan Papers, Box 3, Folder 5.

Image Source: 1936 Social Science Research Building. University of Chicago Photographic Archive, apf2-07476, Special Collections Research Center, University of Chicago Library.

Tags Lange, Marschak, Mints

Chicago Columbia Economists Stanford Syllabus

Chicago. Economics Ph.D. Alumnus Simon James McLean, 1897

Post author By Irwin Collier
Post date 2016-08-28

It all began as a humble search for a single mosaic tile — where did Simon James McLean study before going to the University of Chicago and becoming one of its first four Ph.D.’s in Political Economy? Before getting an answer to that question, I uncovered many other details of a life begun in Brooklyn (1871) with first academic degrees from the University of Toronto (A.B., 1894; LL.B., 1895), then A.M. at Columbia (1896) and finally Ph.D. from the University of Chicago (1897).

After getting the Ph.D. McLean’s career literally went south, namely to the University of Arkansas (1897-1902), then west to Stanford (1902-05), and then back north to the University of Toronto (1906) at the age of 35.

From the University of Chicago’s registers of its Ph.D’s. for the years 1921, 1931, and 1938 I discovered that McLean morphed from a leading academic light regarding the economics of railroad regulation into a policy mover-and-shaker on the Board of Railway Commissioners for Canada (1908-1938). The man covered a lot of territory in his life.

But wait, there’s more. While on McLean’s trail through Fayetteville, Arkansas, I came across the course descriptions at the University of Arkansas for economics and sociology that included his textbook choices. Since there is no indication of anyone else offering any of these courses, it would appear the young professor had a teaching load for each semester of 14 hours per week. I think it is reasonable to assume that his choices of topics and texts represent an average of his own earlier coursework at Columbia and Chicago. I have added links to all the texts given in the course descriptions.

Sources:

Theses of the University of Chicago, Doctors of Philosophy. June 1893—December 1921. Chicago: Harper Memorial Library, University of Chicago.

University of Chicago Announcements, Register Number, Doctors of Philosophy. June, 1893—April, 1931. Chicago: University of Chicago Press, pp. 122-127.

University of Chicago Announcements, Register of Doctors of Philosophy. Jan, 1893—April, 1938. Chicago: University of Chicago Press, pp. 139-144.

______________________________

McLean, Simon James.
University of Chicago thesis (1897):
The railway policy of Canada.

McLean’s Ph.D. thesis does appear to have been published as such. However, he did write a series of articles for the Journal of Political Economy that together account for much of his dissertation work.

An early chapter in Canadian railroad policy. Journal of Political Economy, Vol. 6 (June 1898), 323-352.
Canadian railways and the bonding question. Journal of Political Economy, Vol. 7 (September 1899), pp. 500-542.
The railway policy of Canada, 1849 to 1867: I. Journal of Political Economy, Vol. 9 (March 1901), pp.
The railway policy of Canada, 1849 to 1867: II. Journal of Political Economy, Vol. 9 (June 1901), pp. 351-383.

______________________________

Arkansas University.—Dr. Simon James McLean has been appointed Professor of History and Political Economy at the University of Arkansas. He was born at Brooklyn, N.Y., June 14, 1871. After passing through the public schools of Quebec and Cumberland, Canada, and the Ontario Collegiate Institute of Ottawa, he entered the Toronto University. Here he obtained the degree of A.B. in 1894 and that of LL.B. in 1895. He then pursued further graduate studies at Columbia, receiving his A.M. in 1896, and at Chicago, where, in 1897, he obtained the degree of Ph.D. In the same year he was appointed Professor of Economics and Sociology at the University of Arkansas. Professor McLean has published:

“Tariff History of Canada.” University of Toronto Studies, 1895. Pp.53.
“The University Settlement Movement.” Canadian Magazine, March, 1897,
“Early Railway History of Canada.” Ibid., March, 1899.
“Early Canadian Railway Policy.” Journal of Political Economy, June, 1898.
“Canadian Railways and the Bonding Question.” Ibid., September, 1899.

Source: The Annals of the American Academy of Political and Social Science, Vol. 14 (September 1899) p. 64 [page 220 in printed volume].

______________________________

Course offerings in economics and sociology at the University of Arkansas
1899-1900

ECONOMICS AND SOCIOLOGY.
S. J. McLean, Professor.

The courses offered in this department are designed to afford such instruction as will be advantageous to those who intend to enter public life, or those callings which will bring them closely in touch with the activities of citizenship. Course 1 is required before more advanced courses in this department are taken.

Principles of Economics (both terms)……….2

Recitations, prescribed readings, reports and debates. Text-book: Walker, Political Economy [3^rd edition, 1888 ].

Industrial History of America and Europe since 1763 (first term)……….3

The leading industrial facts of this period are considered, including panics and trusts. A detailed study of some of the more important industries will also be made. Lectures, reports, and prescribed readings. Selected portions of Rand’s Economic History [Selections Illustrating Economic History since the Seven Years’ War 3^rd ed., 1895]will be studied.

Banking (first part of second term)……….3

The principles of Banking and the history of Banking Systems. [Chapters on the theory and history of banking. 1^st ed., New York and London: G. P. Putnam’s Sons, 1891. ] Lectures, recitations, reports, and readings. Text-book: Dunbar, Chapters in the Theory and History of Banking.

Money (latter part of second term)……….3

The principles of Money and the history of Monetary Systems are considered. [From 1898-99 Catalogue: “Text-books: Walker and Jevons” [Francis A. Walker, Money (1878). William Stanley Jevons, Money and the mechanism of exchange (1875).]

Tariff History and Problems (first term)……….2

United States, England, France and Germany. Special attention will be devoted to the tariff history of the United States. Text-book: Taussig, Tariff History of the United States. [1888] This will be supplemented by lectures and use of government documents.

History of Economic Thought, from Plato and Aristotle to the Present (second term) ……….2

Text-book: Ingram’s History of Political Economy [1887]; supplementary readings and reports will also be required.

Public Finance (first term)……….3

Principles and history of taxation, management of public debts, consideration of governmental activities, etc. Text-book: Plehn, Introduction to Public Finance [1896]. Lectures, readings and use of government documents.

Transportation. Its History and Problems (second term)……….3

The economic aspects of water transportation, the great lakes, canal systems, and the Mississippi; the evolution of the railroad system, railroad geography, state versus private ownership, methods of government control, railroad finances, etc. Lectures, prescribed readings, and use of original material. Text-book: Hadley, Railroad Transportation. [1885]

Principles of Sociology (first term)……….2

This course considers the elements and conditions of social growth and progress. Recitations, lectures and reading of assigned chapters in Spencer’s Principles of Sociology [Vol. 1, Vol. 2, Vol. 3.] and in Gidding’s Principles of Sociology [1896]. Text-book: Fairbanks’s Introduction to Sociology [1896].

Problems of Social Growth (second term)……….2

Trade-unionism, arbitration and conciliation, socialism, communism, co-operation and profit-sharing. Lectures and reports. For reference: Ely, The Labor Movement in America [1886], and Ely, French and German Socialism [1883].

Commerce (first term)……….2

Theory of foreign commerce; investigation of the commercial resources of the leading countries of the present. Students will be expected to acquaint themselves with the United States Consular Reports. Text-book: Chisholm, Smaller Commercial Geography [1897 Handbook of Commercial Geography.].

Labor Legislation (second term)……….2

History and critical investigation of the attitude of the State towards Labor; apprenticeship laws, combination laws, trade union recognition, factory legislation, etc. For reference, Stimson, Handbook to the Labor Law of the United States. [1896]

Source: Catalogue of the University of Arkansas, 1899-1900. Fayetteville, Ark., pp. 77-79.

______________________________

PROF. M’LEAN [sic] RESIGNS
HEAD OF ECONOMICS DEPARTMENT TO GO TO TORONTO.

Will Leave Stanford in January to Take Professsorship in Economics of Commerce and Transportation.

Professor Simon James McLean, present head of the Department of Economics, has tendered his resignation and will leave Stanford at the end of the present semester. He goes to accept the professorship of economics of commerce and transportation at the University of Toronto in Canada. Professor McLean has been contemplating this step for some time, as, aside from the fact that the work at Toronto will be along lines offering him better opportunities for advancement, the call from his alma mater was one which he felt he could not refuse. Dr. Jordan has accepted Professor McLean’s resignation and in his letter accepting it speaks as follows: “We recognize your ripe scholarship, your high ideals in education, your calmness of judgment, and your possession of those traits of character and thought which mark the gentleman among other men. As a teacher in a line of work so much afflicted by hasty judgment, by sensationalism and emotionalism, you have always held the attitude of a careful and patient investigator, one of the most solid and accurate within the range of my acquaintance.” It is still too early for any definite statement regarding the filling of Professor McLean’s place in the Department of Economics, as he will continue in charge of his classes until the twenty-second of December. Professor McLean came to Stanford in 1902 from the University of Arkansas, where he was professor of economics and sociology. He took his A. B. at the University of Toronto in 1884 and his degree of LL.B. in 1895 from the same university. The degrees A. M. from Columbia and Ph.D. from Chicago came in 1896 and 1897. Professor McLean is a recognized authority on the subject of railway rates, and has been a member of several special commissions appointed by the government to investigate conditions along this line.

Source: The Stanford Daily, Vol. XXVII, Issue 66, November 28, 1905.

Tags McLean

Berkeley Chicago Economists

Chicago. Economics Ph.D. Alumnus Henry Rand Hatfield, 1897

Post author By Irwin Collier
Post date 2016-08-26

Henry Rand Hatfield (1866-1945) was among the first four Ph.D.’s in Political Economy at the University of Chicago in 1897. The following items present a reasonably complete picture of the life and career of this scholar. Numbers people can be sorted into accountants and statisticians. In the early years of graduate economics education they shared the same tidal pool on the eve of their respective evolutionary development paths. Hatfield had a long and distinguished career in accounting. Of particular interest to historians of economics is his paper “An Historical Defense of Bookkeeping,” originally published in The Journal of Accountancy, April 1924.

For an appreciation of his contributions to accounting, see the biographical note from S.A. Zeff and T.F. Keller, eds. Financial Accounting Theory I: Issues and Controversies, Second edition. McGraw Hill, p. 502 (posted at the website Accounting Hall of Fame).

____________________________________

660. HENRY RAND HATFIELD.

Brother of Nos. 368 [Emily Marcia Hatfield (Hobart)] and 389 [James Taft Hatfield].

            Born 27 Nov. 1866, in Chicago. Prepared in Northwestern University Academy. A.B. [Northwestern, 1892]. Ph.D., University of Chicago, 1897. Adelphic. Beta Theta Pi; Phi Beta Kappa. Kirk contestant. Graduate student University of Chicago, 1892-94. Fellow in Political Economy, University of Chicago. Instructor, Washington University, St. Louis, Mo., 1894-96 and 1897-98; Instructor in Political Economy, University of Chicago, 1898-1902; Assistant Professor of Political Economy, and Dean of College of Commerce and Administration, 1902 . Contributor to Journal of Political Economy.

Married Ethel A. Glover, 15 June 1898, at Washington, D. C.

Children—      John Glover, born 24 Jan. 1900.

                       Robert Miller, born 16 Aug. 1902.

Residence, 5825 Kimbark Ave., Chicago, 111.

Source: Northwestern University. Alumni Record of the College of Liberal Arts, 1903 (Charles B. Atwell ed.). Chicago: Lakeside Press, 1903, p. 225.

____________________________________

Henry Rand Hatfield, Accounting: Berkeley and Systemwide

Henry Rand Hatfield was born in Chicago, Illinois, on November 27, 1866, son of Reverend Robert Miller Hatfield and Elizabeth Taft Hatfield; and died on December 25, 1945 in Berkeley, California. He was married to Ethel Adelia Glover in 1898, and is survived by his widow and two children, John Glover Hatfield and Elizabeth Glover, and six grandchildren. A second son, Robert Miller Hatfield, died in 1927 at the age of twenty-five.

Professor Hatfield attended school in Evanston, Illinois and here, in 1884, he entered Northwestern University. After two years of college he withdrew to take employment in a bond house; but five years later he returned to complete work for a bachelor’s degree. Following this he enrolled at the University of Chicago where he received, in 1897, the degree of Ph.D. His chief college interest was in the classics. He studied economics and political science, however, at Northwestern and Chicago and these studies enabled him to accept an instructorship at Washington University, St. Louis, in 1893. In 1898 he was appointed instructor at the University of Chicago. Two years later, at the suggestion of the University but not at its expense, he visited Germany to observe the organization of business teaching in that country. The University of Chicago had established its College of Commerce and Administration in 1898, the same year in which he had joined its staff, and the survey of German practice was undertaken in the interest of this technical program. In 1902 he was appointed assistant professor and dean of the new college, serving until 1904.

His connection with the University of California began in 1904, when he was appointed Associate Professor of Accounting. Five years later, he was appointed Professor of Accounting and Secretary of the College of Commerce. In 1916 his title was changed to Dean of the College of Commerce–a position which he held until 1920. From December, 1915 to June, 1916; from May, 1917 to July, 1918; and from 1920 to 1923, he was Dean, Acting Dean, and Dean of the Faculties. As Dean of the Faculties he served as the principal administrative officer under the President of the University. As Secretary and Dean of the College of Commerce, he was able, during eleven years, to guide the development of the expanding College of Commerce. Emphasis upon sound fundamental training, broad, rather than highly specialized instruction, and insistence upon intellectual discipline were characteristics of his plans. In his capacity as teacher, he conducted classes in geography, economics, banking, international trade, and business organization, as well as in accounting and finance; but after 1917 he confined himself to accounting and finance. Perhaps his greatest interest was in the elementary course in accounting, in his advanced seminars in accounting problems, and in the history of accounting. In all he achieved more than ordinary results.

During World War I Professor Hatfield was on leave from the University of California from July, 1918 to June, 1919. For most of this time he was Director of the Division of Planning and Statistics of the War Industries Board–a responsible position in which his technical competence, his administrative ability, and his skill in establishing friendly relations with his associates, were displayed. After the War Industries Board ceased operations he remained in Washington for a few months as expert with the Advisory Tax Board, discussing the formulation of government policy during the period immediately following the war.

His friends and associates will always remember him as a shrewd, witty, and affectionate person, endowed with a breadth of interest which caused him to be helpful to many people in many ways. This was true of community and church matters to which he gave his time, and of University affairs in which he played a significant and sometimes a very influential role. His permanent reputation will, however, rest upon his contributions to accounting and to the accounting profession.

His contribution to the profession includes organization work of the first quality assisting in the reorganization of the State Board of Accountancy, and in the formation of the California State Society of Certified Accountants soon after he arrived in California. These new or revived institutions introduced new methods into local practice at a time when the morale of California accountants was at its lowest ebb.

His ideas upon accounting were even more significantly expressed in written form. Here his major work was the volume Modern Accounting, published in 1908, repeatedly reprinted, and in 1927 rewritten and enlarged under the title of Accounting, its Principles and Problems. Before 1908, when Modern Accounting was first issued, almost nothing above the level of discussion of technical rules and perfunctory procedures had been written on the subject for many years; Hatfield’s original and systematic discussion has been described as a white light in a previously rather dark landscape. By 1927 the situation had changed somewhat; but his fuller treatment was again welcomed with appreciation and respect, and the later volume has preserved its significance during the following years. In 1938 and 1940 he rounded out his contribution by preparing considered statements of accounting principles in collaboration with other writers.

Besides these major works, Professor Hatfield exerted influence through a long succession of reviews and articles providing selective, constructive, and critical discussion of accounting principles as they were stated and restated in England and in the United States over more than two decades. His concise and vigorous style, his clarity of thought and tinge of humor, and his practice of restricting each article to the consideration of a few points enlarged the impact of his ideas upon the accounting and legal professions for which he wrote.

Finally, and this amounted to more than a diversion in his long career, Professor Hatfield maintained a consistent interest in the history of his subject, which resulted in the accumulation of a substantial body of little-known material and in the publication of many articles. In this work he benefited from the classical training of his early days. It is probably safe to say that he was the best informed scholar on the history of accounting in the United States and perhaps in any country. His persistent historical studies and his sound general knowledge enabled him to trace the beginnings of practice and of theories upon which modern systems have been built. It is a loss to economic and to cultural history that the fruits of his research were never gathered together and comprehensively set forth.

Professor Hatfield, at one time or another, was president of the American Association of University Instructors in Accounting, vice president of the American Economic Association, delegate of the United States Government to the International Congress on Commercial Education, and Honorary Member of the California Society of Certified Public Accountants. From 1923 to 1928 he was Senator of Phi Beta Kappa. In 1928 Beta Alpha Psi, the national accounting fraternity, gave him an award for the most outstanding contribution to the literature of accountancy for that year. He was Dickinson lecturer at Harvard in 1942. He received the LL.D. degree from Northwestern University in 1923 and from the University of California in 1940. In conferring this last degree President Sproul referred to him as a “constant champion of the logical approach, the sane view, and the clear disclosure of the essential facts of goods and proprietorship; discoverer of scientific principles and sound philosophy in a field obscured by dogma and convention; one able to find life and even humor in the dust of ledgers.” The essential modesty of the man was a quality which endeared him to his friends, but it will be pleasant to remember that he received during his life some of the recognition which he so richly deserved.

Academic Senate Committee Stuart Daggett Ira B. Cross Lucy Ward Stebbins

Source: 1945, University of California: In Memoriam, pp. 98-102.

Image Source: Website Berkeley Heritage, Henry Rand Hatfield house (Berkeley’s Northside), 2695 Le Conte Ave. at La Loma, 1908.

Tags Hatfield

Columbia Economic History Economists

Columbia. Ph.D. Alumnus Isaac Aaronovitch Hourwich, 1893

Post author By Irwin Collier
Post date 2016-08-25
2 Comments on Columbia. Ph.D. Alumnus Isaac Aaronovitch Hourwich, 1893

Some Ph.D.’s in economics go on to contribute to the development of the science, others go on to contribute to the commonwealth outside the ivory tower and others leave you wondering what were they thinking when they decided to write a dissertation anyway. Most of my interest is in the first group but sometimes the lives led by the other two groups are just too interesting to merely mention the title and date of their dissertation without further notice.

Today’s post is dedicated to Columbia Ph.D. alumnus, Isaac Aaronovich Hourwich, whose dissertation was among the first ten economics doctoral dissertations accepted by the Columbia School of Political Science. I decided to look him up after seeing him listed as a Docent in Statistics for the Department of Political Economy at the University of Chicago in 1893/94.

Fun Fact: Isaac’s sister, Jhenya Hourwich, translated Marx’s Das Kapital into Russian, and he later translated Das Kapital into Yiddish in 1919.

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The Dissertation

Hourwich, Isaac Aaronovich. The economics of the Russian village. Columbia University Ph.D. dissertation published in Studies in History, Economics and Public Law. Volume II, 1892-1893.

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Teaching at the University of Chicago

Isaac A. Hourwich, Ph.D., Docent in Statistics.

Graduate, Classical Gymnasium, Minsk, Russia, 1877; Candidate of Jursprucence (Master of Law), Demidoff Juridical Lyceum, Yaroslavl, 1887; Member of the Bar, Court of Appeals of Wilno, Russia, 1887-90; Seligman Fellow, Columbia College, 1891-2; Ph.D., ibid., 1893.

Source: University of Chicago. Annual Register July, 1893—July, 1894. Chicago: 1894, p. 18.

__________________________________

The following biographical note comes from the YIVO Institute for Jewish Research, Center for Jewish History, Guide to the Papers of Isaac A. Hourwich (1860-1924).

Isaac A. Hourwich was born April 27, 1860 in Vilna to a middle-class maskilic family. His father, who worked in a bank and knew several European languages, made sure to give his two children a modern secular education. Hourwich graduated in 1877 from the classical gymnasium at Minsk, and later studied medicine and mathematics. As a student, he became interested in nihilistic propaganda. His activities with a revolutionary Socialist circle in St. Petersburg led to his arrest and imprisonment in 1879 on the charges of hostility to the government and of aiding to establish a secret press. He was sent to Siberia as a “dangerous character,” from 1881-1886. While in prison, he studied the settlement of Russian peasants in Siberia, and wrote a book in Russian, The Peasant Immigration to Siberia, which was published in 1888. After his release, he studied law at the Imperial University in St. Petersburg. He earned his legal degree from Demidoff Lyceum of Jurisprudence in Yaroslavl, Russia and was admitted to the Russian bar in 1887. He then practiced law in Minsk and continued his involvement in radical political movements. He helped to found the first secret Socialist circles among the Jewish workers in tsarist Russia, along with his wife Yelena (Kushelevsky) Hourwich and his sister Jhenya Hourwich, who later translated Marx’s Das Kapital into Russian.

In 1890, Hourwich fled Russia, leaving behind his first wife Yelena (Kushelevsky) Hourwich and four children, Nicholas Hourwich (1882-1934), who was later involved in the founding of the Communist Party, Maria (Hourwich) Kravitz (1883-), Rosa Hourwich (ca.1884-), and Vera (Hourwich) Semmens (1890-1976), although Hourwich’s parents continued to support his family. He first went to Paris but he had to leave there as well, at which point he immigrated to the United States. He divorced his first wife and married again, to Louise Elizabeth “Lisa” (Joffe) Hourwich (1866-1947). Lisa Hourwich had taught school in Russia, and, after immigrating to the United States with her family, attended law school, eventually passing the Illinois bar, although she never practiced as a lawyer. They had five children, Iskander “Sasha” Hourwich (1895-1968), Rebecca Hourwich Reyher (1897-1987), who was a prominent suffragist, Olga “Dicky” Hourwich (1902-1977), George Kennan Hourwich (1904-1978), and Ena (Hourwich) Kunzer (1906-1989).

In New York, Hourwich joined the Russian Workers Society for Self-Education, later the Russian Social Democratic Society, which was made up mostly of Jewish immigrants from Minsk. The Society helped to finance the Group for Liberation of Labor (1883-1903), which Georgi Plekhanov, Pavel Axelrod and Lev Deutsch formed in Geneva, Switzerland for the dissemination of Marxist ideas in Russian. From 1891-1892 he was a fellow at Columbia University where he earned a Ph.D. in economics in 1893. His thesis was published under the title The Economics of the Russian Village and a Russian translation was published in Moscow in 1896. He then taught statistics at the University of Chicago from 1892-1893, after which he returned to New York City, where he practiced law while also contributing to Marxist legal magazines in Russia. In 1897-1898, after the creation of the Social Democratic Party by Eugene V. Debs, Hourwich founded the first party branch in New York City with Meyer London. He also edited a Russian Socialist newspaper, Progress, from 1901-1904.

Hourwich moved to Washington, D.C. in 1900, where he worked for the United States government for several years, first as a translator at the Bureau of the Mint in 1900-1902, then at the Census Bureau in 1902-1906 and in 1909-1913 as a statistician and expert on mining. He was a statistician for the New York Public Service Commission, 1908-1909. During this period he developed his knowledge of American politics and economics which he used in his writings in the English and Yiddish press. He briefly wrote for the Forward after it began publication in 1897, even though he did not then know much Yiddish and had to learn it as he went along. For his articles in the Forward and other Yiddish periodicals he used the pseudonyms “Marxist” and “Yitzhok Isaac ben Arye Tzvi Halevi” so as not to bring attention to the fact that a government employee was writing for radical newspapers. His articles about American politics and economic institutions, particularly for the Tog (Day), were important in popularizing Socialism and were often the main source for explaining American economics and politics to a Yiddish-speaking audience in the United States. In addition to various essays in the Yiddish press, Hourwich published: “The Persecutions of the Jews,” in The Forum in August 1901, “Russian Dissenters,” in The Arena in May 1903 and “Religious Sects in Russia,” in The International Quarterly in October 1903, to name only a few.

In the wake of the October 1905 revolution, Tsar Nicholas II declared amnesty for political prisoners and Hourwich took advantage of this to return to Russia where he ran for a seat in the second Duma in Minsk in 1906. He was the nominee of a new Democratic People’s Party. The Jewish Socialist parties resented his intrusion and his non-Socialist campaign, particularly the Bund, which was running its own candidate. He was elected and would most likely have gained the seat in the Duma but the senate in St. Petersburg annulled his election and his name was taken off the final list of candidates. When the Duma was dissolved in June 1907 Hourwich returned to the United States and his government job. He also continued to write for various English magazines. Hourwich was an expert on immigration, and his book Immigration and Labor was published in 1912. In this work, he defends unrestricted immigration by arguing that the influx of immigrants from Eastern and Southern Europe was beneficial to the American economy. This argument was based upon economic figures and was the first defense of open immigration based on economic, rather than humanitarian, reasons.

Hourwich was active in the garment workers union at the time the agreement known as the “Protocol of Peace” was in effect. Engineered by Louis D. Brandeis following the cloakmakers’ strike of 1910, the Protocol was a system for resolving conflicts between workers and manufacturers in the garment industry without resorting to arbitration. This system was proving difficult to implement when Hourwich was appointed Chief Clerk of the Cloak and Skirt Makers’ Union in early 1913. He was in favor of reforming the Protocol, including a change from conciliation to arbitration, exactly what Brandeis had been against when drafting the Protocol. Hourwich’s position earned him the enmity of other union leaders, of his old friend, Meyer London, and also of Brandeis, who had represented the garment employers in Boston against the union during the 1910 strike. In addition, the heads of the International Ladies’ Garment Workers Union, Abraham Rosenberg and John Dyche, vehemently opposed Hourwich for asserting the power of the local union against its parent organization and were concerned that his actions would lead to another strike. The officers of the ILGWU tried unsuccessfully to force Hourwich out, although the majority of garment workers supported him for his populist views, despite his lack of trade union experience.

In November 1913, the Cloak, Suit and Skirt Manufacturers’ Association refused to negotiate with Hourwich as the union representative and demanded his resignation. Although the heads of the union were united in their dislike of Hourwich, they supported him in resisting the manufacturers’ pressure. However, in early 1914 when the manufacturers threatened to break off the Protocol and a strike appeared imminent, Hourwich stepped down rather than compromise, despite the protests of many rank-and-file union members. The so-called “Hourwich Affair” showed the weakness of the Protocol as a means of settling disputes and hastened its eventual reform. It also revealed the various power struggles taking place between the International and the local unions, as well as between the union leadership and the mass of garment workers.

Hourwich was an early critic of the totalitarian tendencies of the Bolshevik government. Nevertheless, he maintained some sympathy for the Marxist cause and served as legal advisor to the Soviet ambassador to the United States, Ludwig C.K. Martens. He was also connected with the weekly magazine, Friends of Soviet Russia, published by the Soviet Agency, although he never wrote in support of the Bolsheviks. A visit to the Soviet Union in 1922 disillusioned Hourwich, however, and he returned firmly opposed to the Soviet regime.

Despite his commitment to Socialism, Hourwich did not strictly adhere to party doctrine and often crossed political boundaries in his allegiances. For example, in 1912 he supported Theodore Roosevelt and ran for Congress on the ticket of Roosevelt’s Progressive Party, an unthinkable act for a Jewish radical, although he seems to have been unconcerned with any criticism this raised. He was involved with the Socialist Democratic Party but did not join the Socialist Party of America, despite its Marxist program. He wrote for various Yiddish newspapers of every political affiliation, including the Socialist Jewish Daily Forward, the anarchist Fraye Arbeter Shtimme (Free Workers Voice), where he published his unfinished memoirs Zikhroynes fun an Apikoyres (Memoirs of a Heretic), the Warheit (Truth), the Tog (Day), and the Tsukunft (Future). His non-ideological approach led some to label him a political opportunist. He was an ardent supporter of President Wilson and his advocacy of the New Freedom and social reform until Wilson’s 1916 appointment of Louis D. Brandeis to the Supreme Court. Hourwich was still holding a grudge against Brandeis for his involvement in the “Hourwich Affair.”

In his later years Hourwich became active in the Zionist movement, and in 1917 he helped to organize the American Jewish Congress. Hourwich’s books in Yiddish include Mooted Questions of Socialism (1917), a Yiddish translation of Marx’s Das Kapital (1919), and a four-volume edition of his collected works (1917-1919). Hourwich died of pneumonia on July 9, 1924.

Source: Guide to the Papers of Isaac A. Hourwich (1860-1924).

__________________________________

Personal Notes [1894]

Dr. Isaac Aaronovich Hourwich has been appointed Docent in Statistics at the University of Chicago. He was born April 26, 1860, at Wilno, Russia, and was educated at the Classical Gymnasium, at Minsk, from 1869-77. The year 1877-78 he spent at the Medioc-Chirurgical Academy at St. Petersburg, and 1878-79 at the University of St. Petersburg. Later he became a non-resident student of the Demidor Juridical Lyceum, at Yaroslavl, where in 1887 he graduated with the degree of LL.M. He was admitted to the bar at Minsk, and practiced law from 1887 to 1890. In 1891 he became a student of Columbia College, New York, and received in 1893 the degree of Ph.D. from that institution. Dr. Hourwich has published:

“Peasant Emigralion to Siberia.” Juridichesky Vestnik (Juridical Herald), Moscow, January, 1887.
“The Study of Peasant Emigration to Siberia.” Sibirski Sbornik (Siberian Magazine), 1887.
“Peasant Emigration t0 Siberia.” Pp. 160. Moscow, 1888.
“The Agrarian Question in Russia.” Ur Dagens Krönika. Stockholm, September, 1890.
“The Persecution of the Jews.” The Forum. August, 1891.
“The Russian Judiciary.” Political Science Quarterly, December, 1892.
“The Economics of the Russian Village.” Pp. 184. Columbia College Studies in History, Economics and Public Law.

Source: The Annals of the American Academy of Political and Social Science, vol. 4 (Jan., 1894), p. 156.

Tags Hourwich, Seligman

Economists Harvard

Harvard. List of 114 economics dissertations 1875-1926

Post author By Irwin Collier
Post date 2016-08-23

Economics in the Rear-View Mirror now has a page dedicated to the authors of 114 doctoral dissertations in economics written at Harvard during the period 1875-1926. Perhaps a half-dozen are judgment calls, but if anything I have erred on the side of inclusion for the list. It was not until 1904-05 that “Economics” was even listed as a Ph.D. subject at Harvard and the boundary between historians interested in economic history and economists interested in history is pretty fuzzy anyway up to the last third of the 20th century. Further complicating matters is the fact that sociology was a part of economics at Harvard (and often elsewhere) for most of this period.

The page will be corrected, augmented and linked as time goes on. But for now we have the names, years and titles of the dissertations along with educational background and some early career information for almost all 114 cases.

Harvard Suggested Reading Syllabus

Harvard. Economic Problems of Latin America. Bradley, 1944

Post author By Irwin Collier
Post date 2016-08-19
1 Comment on Harvard. Economic Problems of Latin America. Bradley, 1944

Philip Durgan Bradley, Jr. (1912-2003) received his A.B. from Lawrence College in 1935, his A.M from Harvard in 1938, and his Ph.D. from Harvard in 1942 with the dissertation “Some aspects of corporate income taxation”. Bradely’s special examination for the Ph.D. was in Public Finance. Besides having been a tutor/instructor then assistant professor of economics at Harvard, a visiting professor at the University of Virginia and a contributor to a volume about unions published by the American Enterprise Organization (forerunner of today’s American Enterprise Institute), his career remains somewhat obscure.

Bradley, Philip D. et al. Labor Unions and Public Policy. Washington, D.C.: American Enterprise Association, 1958.
Bradley, Philip D. (ed.) The Public Stake in Union Power. Charlottesville: University Press of Virginia, 1959.

______________________________

Course Enrollment

[Economics] 38b. (spring term) Dr. Bradley.—Economic Problems of Latin America.

Total 82: 1 Graduate, 5 Seniors, 10 Juniors, 1 Sophomore, 1 Freshman, 20 Radcliffe, 44 Other.

Source: Harvard University. Report of the President and Reports of the Departments, 1943-44, p. 184.

______________________________

Economics 38b
Spring Term, 1944

Introduction

Royal Institute of International Affairs, Republics of South America, Chs. I and II.

Agriculture and Land Tenure
1. L. Schurz, Latin America, pp. 155-178.
2. M. McBride, Chile: Land and Society, Ch. V.
3. H. Barber, Land Problems in Mexico, Foreign Agriculture, Vol. III, pp. 99-120.
4. O Nyhus, Argentine Pastures and the Cattle-Grazing Industry, Foreign Agriculture, Vol. IV, pp. 3-30.
5. Agriculture in Peru, Foreign Agriculture, Vol. II, pp. 267-98.
6. D. Wickizer, The World Coffee Economy, Chs. I, II, VII.

Resources, Mining, and Industry
1. F. Bain and T. T. Read, Ores and Industry in Latin America, pp. 54-62, 72-81, 135-147, 248-258, 303-308.
2. Wythe, The New Industrialization in Latin America, Journal of Political Economy, 1937, pp. 207-28.
3. C. Simonsen, Brazil’s Industrial Evolution, pp. 11-63.
4. José Jobin, Brazil in the Making, Part III, Ch. I, pp. 93-106.

Government, Labor, and Industry
1. Lewis Lorwin, National Planning in Selected Countries, General, pp. 121-134; Brazil, 137-140; Venezuela, 157-164.
2. M. Phelps, Migration of Industry to South America, Chapter VI, Government Control of Business Activities, pp. 165-193.
3. M. Phelps, “Petroleum Regulation in South America,” American Economic Review, March 1939, pp. 48-59.
4. American Advisory Economic Mission to Venezuela, Report to the Minister of Finance.
  1. General Background, pp. 243-277, 286, 295, 298.
  2. Chapter I, Introduction, pp. 1-2, 4-6, 10-14.
  3. Chapter II, Price Level and Structure, pp. 15-37, 46-52.
  4. Chapter III, Tariffs, pp. 75-82.
  5. Venezuelan Public Finance, pp. 301-310.
    Chapter V, Internal Revenue System, pp. 141-155, 175-177, 195-202.
5. M. Phelps, Migration of Industry to South America,
  Chapter VII, section on Labor, pp. 238-270.
6. Galarza, Labor Trends and Social Welfare in Latin America, 1941 and 1942, Summary pp. i-viii.CHOOSE EITHER 7, 8, OR 9.
7. Paula Lopes, “Social Problems and Legislation in Brazil,” International Labor Review, Vol. 44, No. 5, pp. 493-537.
8. Galarza, Labor Trends and Social Welfare in Latin America, Argentina, pp. 1-23 and Chile, pp. 50-70.
9. Galarza, Labor Trends and Social Welfare in Latin America, Bolivia, pp. 23-40.
  and
  E. Herrnstadt, “Problem of Social Security in Colombia,” International Labor Review, Vol. 47, No. 4, pp. 426-449.

Trade, Money and Finance
1. Olson and Hickman, Pan American Economics, Ch. 3.
2. Law and Contemporary Problems, Hemisphere Trade, Autumn, 1941
  Operation of the Trade Agreements Program, pp. 684-707.
3. S. Tariff Commission, Foreign Trade of Latin America, Part II, Volume 2, United States Silver Policy, pp. 204-209.
4. Triffin, Money and Banking in Colombia, Sections 2 and 3.
5. German Max, Monetary History in Chile.
6. Triffin, Central Banking and Monetary Management in Latin America.
7. Olson and Hickman, Pan American Economics, Ch. 5.
8. C. Wallich, “Future of Latin American Dollar Bonds,” American Economic Review, June 1943, pp. 321-336.
9. Patterson, “The Export-Import Bank,” Quarterly Journal of Economics, November 1943.

READING PERIOD

Read: V. D. Wickizer, World Coffee Economy, Ch. XI and XII, pp. 203-208 and pp. 220-233.

Read one of the following:

C. D. Kenner, Social Aspects of the Banana Industry, Omit Chs. 6, 8, 9, and 11.

D. M. Phelps, Migration of Industry to South America, Chs. 1 thru 4.

Banco Central de la República Argentina, Annual Report:

a. 1938, pp. 5-27
b. 1939, pp. 1-24
c. 1940, pp. 1-12
d. 1941, pp. 17-40
e. 1942, pp. 1-50

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (Box 3), Folder “Economics, 1943-44 (2 of 2)”.

Tags Bradley

Funny Business Harvard

Harvard. On Latino immigration. Carver recalls 1929 invitation to White House.

Post author By Irwin Collier
Post date 2016-08-11

From the conclusion of John Maynard Keynes’ General Theory of Employment, Interest, and Money:

“Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back”

______________________

Presidential candidate Donald J. Trump wants to build a Wall with Mexico. The Donald has given Economics in the Rear-View Mirror a “teachable moment” in the history of economics. President Herbert Hoover issued an executive order to protect American workers from Latino immigration. Hoover was not a madman, obviously. Cut to 1929…

From Harvard Professor Thomas Nixon Carver’s autobiography:

One day during the spring of 1929, while I was playing golf at the Oakley Country Club, a messenger from the clubhouse told me that there was a long distance call for me from the White House. When I went to the phone, Mr. Williams, one of President Hoover’s secretaries, told me that the President would like to consult me and was inviting me and Mrs. Carver to have dinner with him and Mrs. Hoover, and to spend the night in the White House, on a certain date about a week later. I accepted the invitation and called up Flora to tell her of the invitation. She was pleased and said, “But I’ll have to get a new dress.”

When we arrived in Washington we were met at the train by a White House porter and a secretary who took us to the White House in an official limousine. It was midafternoon, so we had several hours to wait for dinner. We were shown to our rooms where we put in some time writing letters to our friends on White House stationery.

At dinner there were only four persons besides the President and Mrs. Hoover. One was his secretary, Mr. Williams, and the other was a daughter of one of Mrs. Hoover’s friends. After dinner the President, Mr. Williams and I retired to his office where we talked till bedtime.

The tariff question and the labor question were worrying him. He was already feeling some disappointment—even some irritation at the lack of cooperation he was receiving from the members of his own party in the Senate. He had sound ideas on the tariff and the labor question, both of which were in the public mind. The Senate, however, was for increasing rather than decreasing the tariff. Eventually he felt forced to sign a tariff bill as a means of getting the duties stabilized, at least for a time, knowing that nothing is so bad for business as uncertainty.

He saw clearly that the immigration of cheap labor from low standard countries was the chief threat to the American standard of living. A move had been made in the right direction when the quota system of limiting, immigration was adopted, but that system did not apply to immigration from the Western Hemisphere. Immigrants from French Canada, from the West Indies, from the Philippines and from all of Latin America were still free to come and were coming by the tens of thousands. These doors were kept open by the combined influence of those who wanted cheap labor and the sentimentalists who wanted to welcome “the poor and oppressed of all the earth,” together with the inertia of Congress.

Before the end of his administration, President Hoover put through an order, based on an old law, instructing consular agents to refuse visas to any immigrant who might become a public charge, or displace a citizen worker who might then become a public charge. That order did more for the American worker than all the New Deal legislation that followed. It seems not to be very well enforced just now (1948), judging by the reports regarding the immigration of Puerto Ricans, Cubans, and Mexicans.

Source: Thomas Nixon Carver. Recollections of an Unplanned Life (Los Angeles: Ward Ritchie Press, 1949), pp. 254-254.

Tags Carver

Course Enrollment

Modigliani Outline for Fall Semester, 1957 (Handwritten)

Ec. Analysis I Summer & Fall 1957 Harvard

Outline

Part I. Methodology.

Part II. Theory of Demand and application

III. Theory of supply and production

IV. Market Structures.

Mimeographed Course Outline, Carnegie Institute of Technology 1957

GI-581—Advanced Economics I Course Outline and Major References (Provisional)

I. Methodological issues:

II. Theory of Demand and Applications

III. Theory of supply and costs under competitive conditions

IV. Imperfect Competition Theories and Market Structures

Mimeographed Course Outline, Carnegie Institute of Technology 1959

GI-581—Advanced Economics I Course Outline and Major References

I. Methodological issues:

II. Theory of Demand and Applications

III. Theory of supply and costs under competitive conditions

IV. Imperfect Competition Theories and Market Structures

Final Examination Economics 202, Fall Semester (1957-58)

HARVARD UNIVERSITY Department of Economics ECONOMICS 202

[Handwritten cover page to course lecture notes]

ECONOMIC ANALYSIS II Harvard—Spring 1958 Outline

I. Welfare Economics and Critique of Laisser faire

II. Dynamics with Certainty

III. Theory of Choice Under Uncertainty

IV. Money and Keynesian Economics

[Two mimeographed sheets of course outline and readings]

HARVARD UNIVERSITY Department of Economics Economics 202

VI. Economics of Welfare

VII. Dynamics under Certainty

VIII. Some Approaches to the Theory of Choice under Uncertainty.

[Handwritten outline preceding notes for fourth part of second semester]

Money and Keynesian Economics Outline

[Course descriptions]

C O P Y

Economics 304 Classified Bibliography Fall Quarter, 1940

I. Methodology

II. The Modern Economic Order.

III. (and IV.) Criticisms of the Economic Order.

V. Note: For Topic V (Ethics: Economic and Political Ideals), See reading List for Economics 405. next following.

Economics 405

ECONOMICS 304 VI. CO-OPERATION

VII. POLITICO-LEGAL ACTION; GENERAL THEORY

VIII. GOVERNMENT REGULATION OF BUSINESS

IX. TAXATION AND RELIEF

X. COLLECTIVISM: ECONOMIC PLANNING

Briefs for Debate on Current Political, Economic, and Social Topics.

Edited by W. Du Bois Brookings, A.B. of the Harvard Law School And Ralph Curtis Ringwalt, A.B. Assistant in Rhetoric in Columbia University

With an introduction by Albert Bushnell Hart, Ph.D. Professor of Harvard University.

[Rerpinted in 1908]

[From the Preface:]

RESTRICTION OF IMMIGRATION.

Question: ‘Resolved, That immigration should be further restricted by law.’

Brief for the Affirmative.

I. There is no longer any necessity for immigration:

II. Immigration has led to many bad effects.

III. The present laws are insufficient.

Brief for the Negative.

I. The policy of the United States in regard to immigration has been successful and its continuance is necessary to develop the resources of the country:

II. Immigration is an advantage to the country:

III. The interests of American labor do not suffer by immigration:

IV. The present immigration laws are satisfactory:

A TAX ON IMMIGRANTS.

Question: ‘Resolved, That a high tax should be laid on all immigrants to the United States.’

Brief for the Affirmative.

I. Immigration should be further restricted.

II. A high tax would stop undesirable immigration.

III. A tax is the simplest effective restriction.

Brief for the Negative.

I. A continuance of immigration is desirable:

II. The present immigration laws are sufficient:

III. The proposed measure of a high tax is undesirable.

THE EXCLUSION OF THE CHINESE.

Question: ‘Resolved, That the policy excluding Chinese laborers from the United States should be maintained and rigorously enforced.’

Brief for the Affirmative.

I. The Chinese are a source of danger to American civilization.

II. Exclusion furnishes-the best remedy.

Brief for the Negative.

Ec. Analysis I
Summer & Fall 1957 Harvard

Mimeographed Course Outline,
Carnegie Institute of Technology 1957

GI-581—Advanced Economics I
Course Outline and Major References (Provisional)

GI-581—Advanced Economics I
Course Outline and Major References

HARVARD UNIVERSITY
Department of Economics
ECONOMICS 202

ECONOMIC ANALYSIS II
Harvard—Spring 1958
Outline

HARVARD UNIVERSITY
Department of Economics
Economics 202

Money and Keynesian Economics
Outline

Economics 304
Classified Bibliography
Fall Quarter, 1940

V. Note: For Topic V (Ethics: Economic and Political Ideals),
See reading List for Economics 405. next following.

ECONOMICS 304
VI. CO-OPERATION

Edited by
W. Du Bois Brookings, A.B. of the Harvard Law School
And
Ralph Curtis Ringwalt, A.B.
Assistant in Rhetoric in Columbia University

With an introduction by Albert Bushnell Hart, Ph.D.
Professor of Harvard University.

MONEY, BANKING AND MONETARY POLICY
Written examination for the Ph.D.

McLean, Simon James.
University of Chicago thesis (1897):
The railway policy of Canada.

Course offerings in economics and sociology at the University of Arkansas
1899-1900

ECONOMICS AND SOCIOLOGY.
S. J. McLean, Professor.

PROF. M’LEAN [sic] RESIGNS
HEAD OF ECONOMICS DEPARTMENT TO GO TO TORONTO.

Economics 38b
Spring Term, 1944