Category: Economists

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Columbia Economists Harvard Stanford

Columbia Ph.D. alumnus. Two images of Kenneth Arrow.

Kenneth Arrow, one day before turning 90 years old

 

Many economists are sharing their personal memories of Kenneth Arrow. Today I’ll just share the photo heading this post that I took on August 22, 2011, one day before his 90th birthday. Taking a break from working in the Hoover Institution Archives at Stanford, I visited Kenneth Arrow in his office to interview him about his own graduate education and memories of Columbia University. 

Those same intense eyes can be seen in his 1936 high-school yearbook photo (Townsend Harris High School in Flushing, NY).

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Chicago Economists

Chicago. J.L. Laughlin Reminisces About Coming to Chicago, 1892

 

 

Another copy of the following brief memoir by the first head of the University of Chicago’s department of political economy is found in the Goodspeed papers at the University of Chicago Archives. The copy transcribed in this post comes from a copy in J. Laurence Laughlin’s papers at the Library of Congress. As persuasive a university president as Chicago’s Harper clearly was, it is pretty clear from below that the generous financial package offered to Laughlin was a necessary part of getting to yes.

___________________________

RECOLLECTIONS OF THE FOUNDING OF THE UNIVERSITY.
J. Laurence Laughlin.

I had left business in Philadelphia and accepted the professorship at Cornell University vacated by E. Benjamin Andrews who had just been elected President of Brown University. I went to Cornell in the Fall of 1890 and remained there during two academic years. In the Fall of 1891 President Harper made a visit to Cornell University, and I first met him at a little reception given at the house of Professor Hale. Later I had a walk with him about the campus, in which we discussed universities and men. Of course, there never entered my head at that time the idea of leaving Cornell. On this occasion I remember President Harper asked me what I thought of Edmond J. James. I happened to be able to sum up my judgment concisely in a number of adjectives which covered the whole case, and I recall President Harper’s interested surprise at the concise characterization.

Later, I think it was in the first week of December, 1891, the Baptist Social Union, of New York City, had a debate on “Silver”, in which Ex-secretary Fairchild and Horace White were on one side, and Senator Stewart, and Representative Newlands, of Nevada, were on the other side. A few days before the meeting I had a telegram saying Ex-secretary Fairchild was ill, and asking me to take his place in the debate. I agreed to do so, and very distinctly recall the occasion which was held at Delmonico’s. The debate evidently stirred up Senator Stewart. I did not know at the time that president Harper was seated at one of the tables below. At the end of the affair President Harper joined me and suggested a long walk before we should feel like retiring. To walk off the effects of my coffee, I agreed. We walked for several hours, bringing up, in the basement restaurant, I think, of the Murray Hill Hotel. While we were disposing of a little supper there the President proposed to me that I should come to Chicago in charge of the Department of Political Economy. It was, of course, a great surprise to me, but I agreed to take it under careful consideration.

A little later I found out that Professor Hale, at Cornell, had also been invited. Then I was urged by the President to come to Chicago and look the situation over. At that time no great endowment had been made for the University, and it might be supposed, as was said by Benjamin Ives Wheeler, that there would be “hard sledding ahead”. Or, as it was expressed by another, “We must have great faith, for it would be like hitching our fortunes to a star”. I recall the interest of Henry W. Sage, who expressed his admiration of Harper as “a man of great faith”, and later when he came to see me in Chicago he wanted to meet the President for that reason. In December, at some time before the Holidays, I came to Chicago, visiting the President at the Grand Pacific Hotel. I believe I also called upon him at the then offices of the University in the Chamber of Commerce building. I was placed in the charge of Frank Frost Abbott to be shown the site of the University. By an unfortunate fate he took me out on the Cottage Grove street cars when a partly melted snow on the ground, blackened by coal soot, gave an impression of Chicago more disagreeable than could now be imagined. Mentally I vowed that a team of wild horses could not drag me to live in such a city. When we reached the grounds the scene was, if possible, still more desolate. Cobb Hall and the Divinity dormitories were then built only to the top of the basement, and this was filled nearly to the brim with green, stagnant , swampy water. It was too swampy to pass eastward across the middle of the present campus. There was no drainage system then, and wide stretches of water extended in pools over the surface here and there. The present site of Haskell was a small pond. Another pond spread out in front of what is now Walker. The only way of getting eastward was to go into the Midway and jump from hummock to hummock. Abbbott had been instructed by the President to show me the progress on the building of the Fair; but the desolate external appearance of the University campus removed all interest in the Fair. I asked to be told the height of the level of this land above the surface of Lake Michigan. Abbott then conducted me to the house of Judge Shorey, who told me the land was eight feet above the level of the lake, and in general removed my depression.

President Harper made strenuous efforts to induce me to accept the appointment before I left Chicago. He brought every possible pressure to bear. I had, by the way, meanwhile lunched with him and Dr. Eri B. Hulburt. Finally I left Chicago without having made up my mind. Some differences arose in regard to what the salary of the head professor should be. After I returned to Ithaca, in consultation with Professor Hale, we felt that we would do a service to the professorial body by trying to put the salaries on a higher basis that had before existed. it was in this way that the salary was fixed at $7,000. I believe that this was not arrived at until we met Messrs. Ryerson and Hutchinson in New York City on their way to Europe. On condition that the salary should be $7,000 both Professor Hale and myself accepted.

In this connection I was consulted regarding Professor von Holst coming from Europe. It happened that I then knew very well Mr. and Mrs. Henry Villard. Mr. Villard was at that time at the height of his railway career. A short time before he had brought over a number of scholars and distinguished men from Europe at the driving the last spike on the Northern Pacific Railroad. Professor von Holst was one of this invited body. I soon discovered that Professor von Holst was getting Mr. Villard’s opinion as to the wisdom of accepting the Chicago position. Then Mr. Villard came to me to know what advice should be given to Professor von Holst. We then canvassed the situation, discussing all the advantages and disadvantages. I think some of these interviews went on before I had signified my own acceptance. One of the things which affected my decision was the policy of President Harper in trying to call the strongest men he could find, whether in Europe or America. This policy undoubtedly affected the acceptance by von Holst, as it did that of many others, no doubt. I was thereby thrown into terms of intimacy with Professor von Holst which continued with increasing ties of affection and friendship until his departure for Europe and his death.

During the following Winter some serious difficulties arose. The graduate bulletin had been put out and some of the proposed plans struck us as possibly undesirable from the point of view of the best development of the University. Of course, opinions must differ. Professor Hale and I might have been right or wrong. At any rate, some differences arose between us and President Harper. He then came to Ithaca at once, and we had long and serious conferences about the fundamental organization of the University. I can remember distinctly when sitting in Professor Hale’s house with him and President Harper, I said, “We have been deciding here very large questions of University policy. It is not right that these far-reaching conclusions should be arrived at on the judgment of two or three professors in consultation with the President. These matters ought to go properly to a body composed of the heads of all the departments of the University, and their opinions should be decisive in forming the University organization with which we should begin work.” I remember clearly how the President, sitting at the end of a sofa, looked up at me and in a flash said, “That’s right! It should be the Senate”. And the Senate was born then and there.

That evening, while sitting in my library until rather late, we found that our differences had been composed. At first they had seemed to us so serious that we had wished to withdraw our acceptances. I mention this because it brought out a special characteristic of the President. It was his open-mindedness. After the most thorough and frank discussion, he was willingly to make adjustment with others. Moreover, difficulties of that sort never left and scars.

In all the days after that, in Ithaca and after I came to Chicago in June, 1892, his enthusiasm and confidence in the future of the University was infectious. His dominating thought in those early days, often expressed to me, was, “Now we must all stand together.”

 

Source: Library of Congress, Manuscript Division. Papers of J. Laurence Laughlin. Box 7, Folder “Recollections of the Founding of the University”.

Image Source: University of Chicago Photographic Archive, apf1-03687, Special Collections Research Center, University of Chicago Library.

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Columbia Economists

Columbia. Faculty of Political Science Minute in Memory of E.R.A. Seligman, 1939

 

This Columbia Faculty of Political Science minute dedicated to the memory of E.R.A. Seligman is the second biographical item posted for him in Economics in the Rear-view Mirror. The earlier item was published in Universities and Their Sons (vol. 2) in 1899.

 

________________________________

Edwin Robert Anderson Seligman, 1861-1939

Through the death of Professor Seligman on July 18, the Faculty of Political Science has lost a colleague distinguished in many ways and beloved for many qualities. No member of the University except President Butler has served Columbia for so many years, and none had contributed more as investigator, teacher, editor, and counsellor to its work. What he did for science and for education grew out of a keen interest in social welfare and grew into multiform activities as a philanthropist, a citizen, and an adviser to lawmakers and public officials. Our sorrow at his passing is mingled with pride in his career a life-long effort to make learning help toward solving problems that confront mankind.

Inheritance and environment combined to produce Professor Seligman’s alert intellect and his social sympathies. Born in New York City on April 25, 1861, eleven days after Fort Sumter fell, he was christened Edwin Robert Anderson in honor of its defender. Growing up in a family of vitality, wealth, and wide cultural interests, he responded to the stimulating influences of his circle with remarkable precocity. Even more remarkable was his industry. After studying in the Columbia Grammar School, he entered Columbia College at fourteen. In his senior year the teaching of Professor John W. Burgess focussed his interests upon political science. On graduating at eighteen he chose a scholar’s life despite his father’s wish that he enter the family bank – a choice the more noteworthy because he possessed a quickness in analyzing complicated problems, and ability in negotiation, and drive toward incessant activity that would have won success in business.

In 1879, still only eighteen, he went abroad for post-graduate study. Two years in Germany, and one in France, supplemented by vacations in Italy and England, gave him a broad view of European work in the fields he wished to cultivate and acquainted him with many of the workers. Returning to New York in 1882, he entered this School of Political Science that had just been formed at Columbia, and, at the same time, begin the study of law. Within two years he was awarded the degrees of M.A. and LL.B. and in one year more that of Ph.D.

Promptly appointed to a prize lectureship in the School of Political Science, young Dr. Seligman began his career as a teacher in 1885 – a career that continued for forty-six years. His early courses dealt with the history of economics, railway problems, and tariffs. Presently what he’d like to call a “mere accident of departmental organization” led him to take up public finance. It proved to be a subject admirably suited to one who united capacity for analysis with extraordinary mastery of realistic detail, and unflagging energy.

A notice in the Political Science Quarterly sense of his work in this field:

“Professor Seligman early recognized the practical importance in the scientific interest of incidence and progression and he made these two subjects peculiarly his own province, pushing the analysis to borders far beyond those reached by earlier writers. His monographs in dealing with these topics served as the foundation stones of his reputation. However, as he was drawn into the discussion of the many important fiscal issues that arose during his lifetime, he wrote the luminously on almost every aspect of public finance – on the income tax, the general property tax, the inheritance tax, on war finance, and international double taxation, and on many other topics, dignifying and illuminating every subject he discussed.

“It has been an occasion for regret, particularly by his host of students, that Professor Seligman never published a systematic treatise covering the general field of public finance. His reason for not doing so reveals one of his most appealing characteristics, that in his constant and passionate questing for new truth. He made plans for such a treatise and carried the work forward to an advanced stage; but no draft was ever satisfactory, judged by his own high standard, for he was always modifying and adjusting his views and his analysis in the light of further observation, study and reflection. Only five years before his retirement he published in this Quarterly a remarkable series of articles, entitled “The Social Theory of Fiscal Science”, in which he radically modified many of the fundamental concepts and definitions used in his earlier work. The mind of Professor Seligman continued to grow until the very end. It would not be surprising if his monumental theory of fiscal science, the fruit of his last seven years since retirement, should prove, when published, to be the most valuable and significant of his contributions.”

In addition to the enormous amount of work devoted to his “specialty”, Professor Seligman somehow found time and energy for other undertakings that would have overtasked most mortals. He helped to organize the first university settlement in this country, and later served both Greenwich House and the Neighborhood Guild. He took an effective share in fighting the spoils system in local government, and was among the founders of the City Club of New York and the Bureau of Municipal Research. Housing reform was one of his life-long interests. The Society for Ethical Culture counted him among its staunchest supporters. Though he grew up in a great city and made his home there, he loved nature, and labored with the characteristic shrewdness and vigor for the preservation of wildlife.

Economists are grateful to Professor Seligman not only for his scientific contributions but also for the active party took in founding the American Economic Association, for the Encyclopedia of the Social Sciences which he did more than anyone else to turn from a dream into an accomplishment, and for the loving care with which he assembled his great collection of books relating to the development of economics. Purchased by Columbia, the Seligman Library ranks high among the University’s treasures, and will be used for generations to come by scholars who are interested in the gradual unfolding of men’s thoughts about their social institutions.

All who believe in liberty of thought are indebted to him for wise and forceful championship of academic freedom. Long before the American Association of University Professors was founded, he had defended scholars who were under fire for expressing what they held to be true, and he kept this course through praise and blame after many others had rallied to his side. What he said carried weight because he stressed the duty of a teacher to maintain a scientific attitude in discussing controversial issues not less strongly than he stressed the duty of administrators and trustees to remember the Bill of Rights.

As the years went on, the calls for his help multiplied beyond any man’s power to meet. Especially was his advice sought upon questions of public finance. No one has contributed so much directly and through pupils, to improve the fiscal systems of American governments, local, state and national. Generously as he gave time to philanthropic and public service, he never neglected his university duties. Year after year he taught classes that grew in size, and carried the burden of administration for his department. He served long terms as editor of the Political Science Quarterly and of the Columbia Studies in History, Economics, and Public Law. His acts of kindness to youthful colleagues and his students are memories treasured by many in our circle, and by more who are far away.

Recognition came to him in abundance – honorary degrees, medals, membership in foreign academies, decorations. His numerous books were translated into many tongues. And every quarter of the globe he had devoted pupils and friends, from Ambedkar of the Untouchables in India, to Lord Stamp in Great Britain and the Chief Justice of the United States. We who had the privilege of working by his side wherever the qualities to which his friendship, fame, and honors were spontaneous tributes, and shall seek to emulate as best we can the example he set of on resting search for knowledge.

 

Source: Columbia University Archives. Minutes of the Faculty of Political Science, 1920-1939. November 17, 1939, pp. 856-859.

________________________________

Columbia Honors Late Dr. Seligman

The late Dr. Edwin R. A. Seligman, economist and tax authority will be honored at a Memorial meeting sponsored by Dr. Nicholas Murray Butler and trustees of Columbia University in Low Memorial Library at 4:30 P, M. today.

Dr. Butler will read a letter from Charles Evans Hughes, Chief Justice of the United States, extolling Professor Seligman, who died July 18. Dr. Seligman was a member of the Columbia teaching staff for fifty-four [sic, 45] years, and was professor emeritus from 1931 until his death.

 

Source: Columbia Daily Spectator, Volume LXIII, Number 52, 13 December 1939.

Image Source: Clipping from portrait in American Economic Review, 1943.

 

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Economists M.I.T.

MIT. No Job Offer to Frank D. Graham, 1942

 

 

From the following copy of a letter written by MIT President Karl Taylor Compton in June 1942 to the distinguished professor of international finance at Princeton, Frank D. Graham (1890-1949), we see that MIT at least considered adding a prominent senior person to its economic department but in the end decided to stick with the strategy of hiring young economists of promise. Graham, a Frank Taussig student, earned his Ph.D. from Harvard in 1920.

In Memoriam: Frank Dunstone Graham 1890-1949, The American Economic Review, Vol. 40, No. 2, Papers and Proceedings of the Sixty-second Annual Meeting of the American Economic Asociation (May, 1950), pp. 585-587.

 

____________________

 

Office of the President
Massachusetts Institute of Technology

COPY

June 23, 1942

Personal

Professor Frank D. Graham
Department of Economics and Social Institutions
Princeton University
Princeton, N.J.

Dear Frank:

I am returning the copy of the very fine testimonial to you from your recent group of graduate students, and was interested to receive your letter supplementing our conversation at the time of your visit.

So far as I can evaluate our situation in Economics, I do not believe that we would be justified or able to offer you a position which would be anywhere near appropriate to a person of your attainments and distinction. With the limitations of our resources it is generally agreed that our best procedure is to try to assemble a group of very promising younger men, giving them the best opportunities for professional development which we can offer and hoping to hold at least some of them permanently on the staff. This is the program which Professor Freeman has been following and I am decidedly enthusiastic about the younger group which he has in the department at the present time.

It is conceivable that some situation might develop which would require a reevaluation of our program. In fact, we have scheduled for early July a thorough study of our personnel situation in this department. It seems to me, however, that any change in the situation which would make it possible for us to offer you an appropriate position would be the result of some presently unexpected occurrence.

I am sorry that this reply is not more constructive because the possibility of your attachment to our staff is very intriguing to me, both on personal and on professional grounds. Professor Freeman and I are both glad to have had this possibility suggested to us, even though it seems remote, and I shall certainly let you know it there is any turn in the situation which might open up the possibility which we have discussed.

Very sincerely yours

President

KTC/L

 

Source: Massachusetts Institute of Technology Libraries. MIT. Office of the President, 1930-1956. Records, 1930-1959. Box 93, Folder 7 “Freeman, R. E.”.

Image Source: Princeton Yearbook, The Bric-a-Brack 1942.

Categories
Columbia Economists Johns Hopkins

Columbia. Professor Henry L. Moore’s Undergraduate and Graduate Transcripts, 1890-96

 

For an earlier post I transcribed the faculty memorial minute for Columbia’s Henry L. Moore along with his request to the department chair in 1924 for a salary adjustment. Today I provide a couple of items that George Stigler had acquired during the course of his research for the paper commissioned by the editors of Econometrica in honor of the Henry L. Moore’s pioneering work in econometrics (Stigler, George J. “Henry L. Moore and Statistical Economics.” Econometrica, vol. 30, no. 1, 1962, pp. 1–21). In addition to some biographical data provided by the alumni office of the Johns Hopkins University, we find the transcripts of both Moore’s undergraduate and graduate courses. One is hardly surprised to see a brilliant undergraduate performance by Moore, though his undergraduate exposure to economics was limited to a single year course in political economy and his undergraduate math courses did not go beyond analytical geometry.

______________________________

 

Carbon Copy of George Stigler’s letter to Johns Hopkins Professor Heberton Evans

 

THE UNIVERSITY OF CHICAGO
Chicago 37, Illinois

Charles R. Walgreen Foundation for the Study of American Institutions
1126 East 59th Street

June 3, 1959

Professor Heberton Evans Jr.
Department of Political Economy
Johns Hopkins University
Baltimore, Maryland

 

Dear Heb:

Econometrica has asked me to prepare an essay on Henry L. Moore and I have agreed to undertake it because I think he is one of the major figures in American economics in the last half century. He took his Ph.D. from Johns Hopkins in 1896 and I hpe you will be kind enough to see if you cannot obtain for me a copy of the transcript of his record at Johns Hopkins and any other material pertaining to him that may be in the University file.

Cordially,

George J. Stigler

Source: University of Chicago Archives, George Stigler Papers. Box 2, Folder “Moore: Data gathered by correspondence”.

______________________________

 

Letter from Johns Hopkins Alumni Office to George Stigler

 

THE JOHNS HOPKINS UNIVERSITY
BALTIMORE 18, MARYLAND

Alumni Records Office

June 8, 1959

Professor George J. Stigler
Haskell Hall
University of Chicago
Chicago 37, Illinois

 

Dear Professor Stigler:

Dr. G. Heberton Evans called me this morning and stated that you were interested in having what biographical information we have on Dr. Henry Ludwell Moore, who died on April 28, 1958. He also stated that you wanted a transcript of his work here.

I have talked with the Registrar about a transcript and she has had this looked up for you. Unfortunately in those days—when Dr. Moore was attending Hopkins—the courses were not as clearly outlined as they are now. Miss Davis will have to clarify some of the credits and the courses given and she will send you her findings when she does this. The Registrar’s Office is in quite a whirl at the moment because of Commencement tomorrow and it will probably be some days before Miss Davis can get this information for you.

I am enclosing a sheet giving an obituary which appeared in the Baltimore SUN at the time of Dr. Moore’s death and also a biographical sketch from Who’s Who. For your information I am giving the addresses of his sisters in Baltimore, which I have taken from the telephone directory:

Mrs. R(obert) Maurice Miller, 406 Hawthorne Road, Baltimore 10
Mrs. J(ohn) Talbot Todd, 100 W. University Parkway, Baltimore 10
Mrs. William P. Cole, 100 W. University Parkway, Baltimore 10

Dr. Moore entered Johns Hopkins in 1892 and was a graduate student in Economics through 1896, when he received the Ph.D. degree. His thesis was Von Thünen’s Theory of Natural Wages.

In the President’s Report for 1892-93 mention is made of “The Wage Theory of Von Thünen,” by Dr. Moore, published in abstract in the Johns Hopkins University Circular for May, 1893. Also, in the President’s Report for 1895-96 two papers by Dr. Moore were read discussed in Economic Conferences (a membership of eighteen students who met one evening fortnightly). The titles of these papers are: “The Personality of Professor Carl Menger,” and “Ricardo’s Attack Upon Malthus’s Doctrine of Rent.”

Sincerely yours,
[signed]
Josephine Cole

 

 

[Attachments from Alumni Files]

 

Obituary from the Baltimore Sun

Dr. Henry Moore Dies at Age 89

Dr. Henry Ludwell Moore, Maryland-born retired professor of economics and sociology at Columbia University, died yesterday in a Baltimore hospital after a long illness. He was 89 years old.

He had received his doctorate in 1896 at the Johns Hopkins University and was a former instructor of economics on the Hopkins faculty.

In 1902 he became an associate professor of economics and romance languages at Columbia where he served until his retirement several years ago. He also taught at Smith College.

Son of the late William Hanson and Sophia Moore, Dr. Moore was born at “Moore’s Rest,” the family home in Charles county. He earned his bachelor degree at Randolph-Macon College and then studied at the University of Vienna and the Hopkins.

He was a pioneer of the application of mathematics and statistical methods to economic theory and wrote numerous articles and books in the field.

His wife was the late Mrs. Jane Armstrong Moore.

Surviving him are three sisters, Mrs. R. Maurice Miller, Mrs. J. Talbot Todd and Mrs. William P. Cole, Jr. all of Baltimore.

The funeral will be private.

 

From—WHO’S WHO

Moore, Henry Ludwell, political economist; b. Charles Co., Md., Nov. 21, 1869; s. William Henry and Alice (Burch) M.; B.A., Randolph-Macon Coll., Va. 1892; U. of Vienna, 1894-95; Ph.D., Johns Hopkins, 1896; m. Jane Armstrong Shafer, of Richmond, Va., June 16, 1897. Instr. Johns Hopkins U., 1896-7; prof. polit. economy, Smith Coll., Mass., 1897-02; prof. polit. economy, Columbia U., 1902–*. Author: Laws of Wages, 1911; Economic Cycles, Their Law and Cause, 1914; Forecasting the Yield and the Price of Cotton, 1917; Generating Economic Cycles, 1923; also articles in scientific jours. on the math. and statis. phases of polit. economy. Home: Cornwall, N.Y.

*Dr. Moore retired from Columbia in 1929. The above does not state that Dr. Moore was also Lecturer in Political Economy at Johns Hopkins in 1897-98, during his first year at Smith College.

 

 

We do not know the source of the clipping which gives the following:

The John Marshall prize for the year 1913 has been awarded to Henry Ludwell Moore as a recognition of the value of his work entitled, “Laws of Wages.” The prize, which was established in 1891, consists of a bronze likeness of Chief Justice Marshall, and is given to a graduate of the University who has produced the best work during the preceding year upon some subject in historical or political science.

Source: University of Chicago Archives, George Stigler Papers. Box 2, Folder “Moore: Data gathered by correspondence”.

______________________________

 

Letter from Registrar’s Office of Johns Hopkins to George Stigler

THE JOHNS HOPKINS UNIVERSITY
BALTIMORE 18, MARYLAND

Office of the Register

April 5, 1960

Professor George J. Stigler

Haskell Hall
University of Chicago
Chicago 37, Illinois

Dear Professor Stigler:

From your letter of March 18, 1960, addressed to Miss Josephine Cole, it appears that I owe you an apology for not taking earlier action upon your request for information on Dr. Henry L. Moore. I am sorry to say that I have neither notes nor recollection of talking about this with Miss Cole last summer. I hope that the enclosed information will reach you in time to be of service.

I think it is in order to say a few words of explanation concerning the academic records of the early years of the University. No effort was made to keep track of a student’s enrollment in individual courses. Grades and points credit were not thought of, and apparently the student had nothing to show except some letters from his professors if he discontinued his studies here before receiving a degree. The final examinations for the degree and the dissertation were recorded, and they were, apparently, considered to be all important.

My source of information, in trying to reconstruct a record of this period, is a publication called “The University Circular”, which listed for each term the seminars and courses of lectures given, and the names of the professors and the students who attended. I thought it would interest you to see the names of the men under whom Dr. Moore studies.

Sincerely yours,

[signed]

Irene M. Davis
Registrar

 

HENRY LUDWELL MOORE
PH.D: 1896
[handwritten: “Johns Hopkins”]

Year Course Instructor
1892-93
(Graduate student)		 Historical Seminary Prof. Adams
Germanic History Prof. Adams
Church History Prof. Adams
English Constitutional Law & History Prof. Emmott
Economic Theory of Distribution Prof. J.B. Clark
Social Science Pres. Gilman
Ethnological History of the Indo-European Peoples Prof. Bloomfield
Methods of Historical Research Dr. Vincent
1893-94
(Graduate student)		 Historical Seminary Prof. Adams
Prussian History Prof. Adams
Railway Problems Prof. H.C. Adams
Administration Prof. W. Wilson
Social Economics Dr. Gould
Theory of Consumption Dr. Sherwood
Recent Economic Literature Dr. Sherwood
Economic Conference Dr. Sherwood
Elements & History of Political Economy Dr. Sherwood
Economic & Social History of Europe Dr. Vincent
1894-95
(Graduate student)		 University of Vienna
1895-96
(Fellow)		 Historical Seminary Prof. Adams
History of the Nineteenth Century Prof. Adams
Economic Conference Dr. Sherwood
Physiocrats Dr. Sherwood
Credit and Money Dr. Sherwood
History of Economic Theories Dr. Hollander
Advanced Economic Elective Dr. Sherwood
Social Economics Prof. Gould
Conditions and Remedies of Non-Employment Prof. Dewey

Source: University of Chicago Archives, George Stigler Papers. Box 2, Folder “Moore: Data gathered by correspondence”.

______________________________

Transcript from Randolph-Macon College

Randolph-Macon College
Ashland, Virginia

June 23, 1959

Henry L. Moore         307 St. Charles Street, Baltimore, Maryland

1st Report 2nd Report 3rd Report Exam
Term Ending:
Feb. 1890
English 95 98 98 —
Latin 98 97 99 —
German 98 97 97 —
Algebra 100 100 — —
Geometry 100 100
Term Ending:
June 1890
English 99 99 99 —
Latin 99 100 100 —
German 99 98 ½ 98 ½ —
Algebra 97 — — —
Geometry 100 100 99 ½
Term Ending:
Feb. 1891
English 100 99 100 95 ¾
Latin 100 99 100 98.7
Trigonometry 100 100 — —
Physics 96 100 100 100
Anal. Geom. — — 100 98
Pol. Economy 100 99.5 100 —
Term Ending:
June 1891
English 99 100 98 96 ¾
Latin 100 100 100 99.1
Anal. Geom. 100 100 100 99 ¾
Physics 100 100 100 100
Pol. Economy 100 100 — 100
Phys. Culture 100 100 100 —
Elocution — — 100 —
Term Ending:
Feb. 1892
English 100 100 100 99 ½
Latin 100 100 100 99
French 100 99 99 98 ½
Chemistry 99 100 — 98.5
Geology 100 100 — —
Physiology 95 100 100 98
Psychology 100 99 — —
Logic — — 100 —
Phys. Culture 80 — — —
Term Ending:
June 1892
English 99 100 99 98 ¾
Latin 100 100 100 99.3
French 98 93 99 95
Chemistry 100 98 98 99
Geology 100 100 99 —
Astronomy 100 98 100 98.5
Logic 100 99 99 99

 

Source: University of Chicago Archives, George Stigler Papers. Box 2, Folder “Moore: Data gathered by correspondence”.

______________________________

From the Catalogue of Randolph-Macon College for the Collegiate Year 1890-91

POLITICAL ECONOMY
[Taught by Professor of Moral Philosophy and Biblical Literature, John A. Kern D.D.]

This class meets twice a week throughout the session. It is usually taken separately from the other classes of the school, and for satisfactory attainments in it a certificate of distinction is awarded. The study of some question in practical economics is assigned as parallel work. The book used for this purpose last session, is Ely’s “The Labor Movement in America.“

Text-book: F. A. Walker’s Political Economy.

Source: Catalogue of Randolph-Macon College for the Collegiate Year 1890-91: , p. 24.

______________________________

 

Image Source: Cropped from portrait of Moore in Econometrica, Vol. 30, No. 1 (precedes the Stigler article).

 

 

Categories
Columbia Economists Harvard

Harvard and Columbia. The Role of University Presidents in the US. Economist, 1909.

 

 

Today’s post provides a glimpse of the major American universities as seen by the eyes of an Englishman (presumably F. W. H. was both English and a man). While the article highlights the role played by the university presidents, there are other differences noted, e.g. “all-pervading atmosphere of work” observed in the Harvard Law School and the “much greater popularity of politics and political economy”.

For fun I have appended the short-story referred to in the Economist article: “What the College Incubator Did for One Modest Lambkin.” It provides some nice examples of early 20th century American vernacular. Does anyone out there know what the “Harvard walk” looks like?

 

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AMERICAN IMPRESSIONS.—THE UNIVERSITIES AND THEIR PRESIDENTS.

            Although my primary object in visiting America was to get some insight into the commercial and financial system, and to inform myself about the prevalent notions of commercial policy and monetary reform, it was desirable and even indispensable for the objects I had in view to see as much as possible of University men. If the average American university is less powerful than either Oxford or Cambridge as a medium for colouring society, it is perhaps for that reason a stronger element in the national life. The rather exclusive caste with its innumerable degrees that files out of Oxford and Cambridge is but faintly reproduced in the American system by Harvard and Yale, whose mannerisms are sometimes imitated by the youthful universities of the West, and often caricatured by the American humorist. No one who has read it could easily forget George Ade’s description of the grey-haired agriculturist of the Middle West who took his son to a cheap provincial university in the hope that he would “soak up all the knowledge in the market,” and qualify for an inspectorship of schools [George Ade, Breaking into Society (New York: Harper & Brothers,1904), pp. 21-30.]. When the first vacation came, the old man discovered with horror that his young scholar had only acquired the Harvard walk, a passion for athletics, and the habit of large expenditure upon dress. As a matter of fact, universities like Harvard, Yale, Colombia [sic], Cornell, the John Hopkins at Baltimore, and Jefferson’s University of Virginia, have a very high average standard of work. Diligence, as Mr Bryce puts it, is the tradition of the American colleges, partly because “in all but a few universities the vast majority of the students come from simple homes, possess scanty means, and have their way in life to make.” Even at Harvard, with all its rich endowments, its old traditions, and its association with Boston as the home of American men of letters, there is far less of the dilettantism and indifference to the practical business of life than is to be found in the extravagant sets at our fashionable colleges. But this may be partly due to the absence of the college system—a system which has its advantages as well as its defects.

When Professor Lawrence Lowell, who has just been unanimously elected president of Harvard, took me over the law school, I was immensely impressed by the all-pervading atmosphere of work. The ample libraries were filled not only with books, but with students, all engrossed in study, and each apparently convinced that he had not a moment to lose in the race after knowledge. But then, the Harvard law school is justly famous as the largest and best in the English-speaking world. The connection of law with business and of the universities with law is much more close and more real in the states than at home; the chief reason, I think, being the diversity of State legislation upon which all the corporations depend, and the consequent impossibility of carrying on the business of large concerns without constant advice from lawyers. The reliance of business men upon lawyers brings legal firms into far more intimate relations with business conditions than is the case in our own country. Moreover, as there is no distinction between barrister and solicitor, the eminent pleaders and jurists of the United States are not secluded and screened by an intermediate profession from real contact with their real client.

Another evidence of what may be called the actuality of academic life in America is the much greater popularity of politics and political economy. At Harvard, for example, Professor Lowell’s lectures on politics and Professor Taussig’s lectures on economics are regularly attended by three or four hundred students. The large universities have quite a number of economic lecturers, who often specialize on live subjects, such as railways, banking, or industrial corporations. Thus the students are constantly reminded of the various lines of business into which they can enter in order to earn a living after they have taken their degrees.

Lastly, the American university, while it resembles the Scottish or the German more than the English in many respects, differs from all European institutions in the singular importance that it attaches to the office of president. In the words of Mr Bryce, the position is one of honour and influence: “No university dignitaries in Great Britain are so well known to the public, or have their opinions quoted with so much respect, as the heads of the seven or eight leading universities in the United States.” President Eliot, of Harvard, for example, who has just resigned after a long and brilliant career, and Professor Butler, of Colombia[sic], who is still in the prime of life, are two of the most popular orators in the best sense of the word—one should perhaps say popular instructors—in the United States. Most of the presidents of universities are excellent business men, skilled in the arts of advertising their institution, and of attracting students and endowments. When they happen also to be gifted and erudite, their moral and intellectual influence over public opinion is naturally enormous. I was only when I began to realize all this that I could quite understand why the people one met in Boston and New York were often more excited about the presidential election for Harvard than about the Presidential election for the United States. It is probably not generally known that the president-elect, Professor Lowell, whose recently published work on our Constitution is already a classic, has been a successful director of large cotton mills, and is the sole manager of the Lowell Trust. A scholar and a business man with an aptitude for public speaking and liberal views of education should prove an ideal president for Harvard.

F. W. H.

Source: The Economist, January 16, 1909, pp. 105-6.

Image Source:  Abbott Lawrence Lowell, photographic portrait (1904) in Harvard University Archives Photograph Collection: Portraits; The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Print Collection, The New York Public Library. Dr. Nicholas Murray Butler, the new President of Columbia University, New York.

 

_______________

What the College Incubator Did for One Modest Lambkin.

from George Ade, Breaking into Society (New York: Harper & Brothers,1904), pp. 21-30.

ONE Autumn Afternoon a gray-haired Agriculturist took his youngest Olive Branch by the Hand and led him away to a Varsity. Wilbur was 18 and an Onion. He had outgrown his last year’s Tunic, and his Smalls were hardly on speaking terms with his Uppers. He had large, warty Hands, which floated idly at his sides, and his Wrists resembled extra Sets of Knuckles. When he walked, his Legs gave way at the Hinge and he Interfered. On his Head was a little Wideawake with a Buckle at the Side. Mother had bobbed his Hair and rubbed in a little Goose-Grease to make it shine. The Collar that he wore was size 13, and called the Rollo Shape. It rose to a Height of a half-inch above his Neck-Band. For a Cravat he had a Piece of watered Silk Ribbon with Butterflies on it.

Wilbur had his Money tied up in a Handkerchief, and he carried a Paper Telescope loaded down with one Complete Change and a Catalogue of the Institution showing that the Necessary Expenses were not more than $3.40 per Week.

As the Train pulled away from Pewee Junction Wilbur began to Leak. The Salt Tears trickled down through the Archipelago of Freckles. He wanted to Crawfish, but Paw bought him a Box of Crackerjack and told him that if he got an Education and improved his Opportunities some day he might be County Superintendent of Schools and get his $900 a Year just like finding it. So Wilbur spunked up and said he would try to stick it out. He got out the Catalogue and read all of the copper-riveted Rules for the Moral Guidance of Students.

The Curriculum had him scared. He saw that in the next four Years he would have to soak up practically all the Knowledge on the Market. But he was cheered to think that if he persevered and got through he would be entitled to wear an Alpaca Coat and a Lawn Tie and teach in the High-School, so he took Courage and began to notice the Scenery.

Wilbur was planted in a Boarding-House guaranteed to provide Wholesome Food and a Home Influence. Father went back after making a final Discourse on the importance of learning most everything in all of the Books.

Nine Months later they were down at the Depot to meet Wilbur. He had written several times, saying that he could not find time to come Home, as he was in pursuit of Knowledge every Minute of the Day, and if he left the Track, Knowledge might gain several Laps on him. It looked reasonable, too, for the future Superintendent of Schools had spent $400 for Books, $200 for Scientific Apparatus, and something like $60 for Chemicals to be used in the Laboratory.

When the Train suddenly checked itself, to avoid running past the Town, there came out of the Parlor Car something that looked like Fitz, on account of the Padding in the Shoulders. Just above one Ear he wore a dinky Cap about the size of a Postage Stamp. The Coat reached almost to the Hips and was buttoned below. The Trousers had enough material for a suit. They were reefed to show feverish Socks of a zigzag Pattern. The Shoes were very Bull-Doggy, and each had a wide Terrace running around it. Father held on to a Truck for Support. Never before had he seen a genuine Case of the inflammatory Rah-Rahs.

Wilbur was smoking a dizzy little Pipe from which the Smoke curled upward, losing itself in a copious Forelock that moved gently in the Breeze. Instead of a Collar, Wilbur was wearing a Turkish Towel. He had the Harvard Walk down pat. With both Hands in his Pockets, the one who had been pursuing Knowledge teetered towards the Author of his Being and said, ” How are you, Governor?”

Father was always a Lightning Calculator, and as he stood there trying to grasp and comprehend and mentally close in, as it were, on the Burlap Suit and the Coon Shirt and the sassy Pipe, something told him that Wilbur would have to Switch if he expected to be County Superintendent of Schools,

“Here are my Checks,” said Wilbur, handing over the Brasses.” Have my Trunks, my Golf Clubs, my portable Punching-Bag, the Suit-Case and Hat-Boxes sent up to the House right away. Then drive me Home by the Outside Road, because I don’t want to meet all these Yaps. They annoy me.”

“You’d better git out of that Rig mighty quick if you don’t want to be Joshed,” said his Parent. “Folks around here won’t stand for any such fool Regalia, and if you walk like a frozen-toed Hen you’ll get some Hot Shots or I miss my Calkilations.”

“Say, Popsy, I’ve been eating Raw Meat and drinking Blood at the Training-Table, and I’m on Edge,” said Wilbur, expanding his Chest until it bulged out like a Thornton Squash.” If any of these local Georgie Glues try to shoot their Pink Conversation at me I’ll toss them up into the Trees and let them hang there. I’m the Gazabe that Puts the Shot. Any one who can trim a Policeman and chuck a Hackman right back into his own Hack and drive off with him doesn’t ask for any sweeter Tapioca than one of these Gaffer Greens. The Ploughboy who is muscle- bound and full of Pastry will have a Proud Chance any time that he struts across my Pathway. In my Trunks I have eight suits a little warmer than this one and 47 pairs of passionate Hose. I’m out here to give the Cornfields a Touch of High Life. It’s about time that your Chaws had a Glimpse of the Great Outside World. Any one who gets Fussy about the Color-Combinations that I spring from Day to Day will be chopped up and served for Lunch. To begin with, I’m going to teach you and Mother to play Golf. If these Mutts come and lean over the Fence and start to get off their Colored- Weekly Jokes we’ll fan the Hill-side with them.”

“What do they teach up at your School — besides Murder?” inquired Father. ” I thought you wanted to be County Superintendent of Schools.”

“I’ve outgrown all those two-by-four Ambitions,” was the Reply. “I’m going to be on the Eleven next Fall. What more could you ask?”

That very week Wilbur organized a Ball Team that walloped Hickory Crick, Sand Ridge, and Sozzinsville. He had the whole Township with him. Every Cub at Pewee Junction began to wear a Turkish Towel for a Collar and practise the Harvard Walk.

MORAL : A Boy never blossoms into his full Possibilities until he strikes an Atmosphere of Culture.

Categories
Economists Fields Harvard

Harvard. Five Economics Ph.D. examinees, 1907-08

 

This posting lists the five graduate students in economics who took their subject examinations for the Ph.D. at Harvard from March 12 through May 21, 1908. The examination committee members, academic history, general and specific subjects are provided along with the doctoral thesis subject, when declared. Lists for 1903-04, 1904-05, 1905-06, 1915-16, and 1926-27 were posted previously. In the same archival box one finds lists for the academic years 1902-03 through 1904-05, 1906-07 through 1913-14, 1915-16, 1917-18 through 1918-19, and finally 1926-27. I only include graduate students of economics (i.e. not included are the Ph.D. candidates in history and government).

Titles and dates of Harvard economic dissertations for the period 1875-1926 can be found here.

______________________

DIVISION OF HISTORY AND POLITICAL SCIENCE
EXAMINATIONS FOR THE DEGREE OF PH.D.

1907-08

Walter Wallace McLaren.

Special Examination in Economics, Thursday, March 12, 1908.
General Examination passed April 10, 1907.
Committee: Professors Taussig (chairman), McLean (University of Toronto), Gay, Bullock and Munro.
Academic History: Queen’s University (Canada), 1894-99; Queen’s University Theological College, 1899-1902; Harvard Graduate School, 1905-08; A.M. (Queen’s Univ.) 1899; B:D. (ibid) 1902.
Special Subject: Canadian Economic History.
Thesis Subject: “History of the Canadian Tariff.” (With Professor Taussig.)
Committee on Thesis: Professors Taussig, Gay, Munro. 

Edmund Thornton Miller.

General Examination in Economics, Wednesday, May 6, 1908.
Committee: Professors Bullock (chairman), Taussig, Hart, Ripley, Gay, and Andrew.
Academic History: University of Texas, 1897-1901; Harvard Graduate School, 1902-03, 1907-08; A.B. (University of Texas) 1900; A.M. (ibid) 1901; A.M. (Harvard) 1903.
General Subjects: 1. Economic Theory and its History. 2. Economic History to 1750. 3. Economic History since 1750. 4. Money, Banking and Transportation. 5. Public Finance and Financial History. 6. History of American Institutions.
Special Subject: Public Finance and the Financial History of the United States since 1789.
Thesis Subject: “The Financial History of Texas.” (With Professor Bullock.)

Melvin Thomas Copeland.

General Examination in Economics, Wednesday, May 13, 1908.
Committee: Professors Gay (chairman), Taussig, Carver, Hart, Ripley, and Andrew.
Academic History: Bowdoin College, 1902-06; Harvard Graduate School, 1906-08; A.B. (Bowdoin) 1906; A.M. (Harvard) 1907.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology and Social Reform. 4. Statistics. 5. Transportation and Foreign Commerce. 6. History of American Institutions.
Special Subject: Economic History of the United States.
Thesis Subject: “Cotton Manufacturing in the United States since 1860.” (With Professor Taussig.)

Frank Richardson Mason.

Special Examination in Economics, Thursday, May 14, 1908.
General Examination passed May 8, 1907.
Committee: Professors Taussig (chairman), Carver, Gay, Bullock and Andrew.
Academic History: Harvard College, 1901-05; Harvard Graduate School, 1905-07; A.B. (Harvard) 1905; A.M. (ibid) 1906.
Special Subject: Economic History of the United States.
Thesis Subject: “The Silk Industry in America..” (With Professor Taussig.)
Committee on Thesis: Professors Taussig, Carver, and Gay.

Robert Franz Foerster.

General Examination in Economics, Thursday, May 21, 1908.
Committee: Professors Taussig (chairman), Royce, Carver, Ripley, Gay, and Bullock.
Academic History: Harvard College, 1902-05; University of Berlin, 1905-06; A.B. (Harvard) 1906.
General Subjects: 1. Economic Theory and its History. 2. Economic History since 1750. 3. Sociology and Social Reform. 4. Statistics. 5. Labor Problems and Industrial Organization. 6. Philosophy.
Special Subject: Labor Problems.
Thesis Subject: “Emigration from Italy, with special reference to the United States.” (With Professor Taussig.)

 

Source: Harvard University Archives. Harvard University, Examinations for the Ph.D. (HUC 7000.70), Folder “Examinations for the Ph.D., 1907-1908”.

Image Source: Memorial Hall, ca. 1900. Library of Congress Prints and Photographs Division Washington, D.C. 20540.

 

Categories
Courses Economists Fields Harvard

Harvard. Edward Chamberlin Lobbies to Teach a Graduate Theory Course. 1935

 

 

With the retirements of Charles J. Bullock and Frank W. Taussig in 1935 Edward H. Chamberlin saw his opportunity to start to break out of his designated field box “government and industry” and into “theory”. We have here a letter that Chamberlin wrote to the head of the economics department, Harold H. Burbank. The letter is of the putting-this-conversation-into-the-written-record variety. His deference to Burbank and recognition of the established claims of other colleagues to the theory field are complemented with a dash of false-modesty—“Perhaps I may, however,…put in my own ‘claim’ (if such it may be called) for whatever consideration it deserves.”

In any event, from the subsequent shuffle in instructional assignments for the 1935-36 academic year, we see that Chamberlin succeeded in joining Schumpeter and Leontief at the Harvard theory table.

________________________

Letter from Associate Professor Chamberlin to Chairman Burbank
Requesting to teach a graduate course in theory

 

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

14 Ash Street
Cambridge, Massachusetts
February 26, 1935

Professor H. H. Burbank, Chairman
Department of Economics,
Harvard University,
Cambridge, Mass.

 

Dear Burby:

This is to confirm our conversation of the other day. I should like to ask if arrangements could possibly be made at this late date for me to give a graduate half course next year on “Contemporary Value Theory.”

I have been asked by several people recently why it was that, although the theoretical problems which Mrs. Robinson and myself have raised are the subject of lively controversies in numerous other universities, one finds them very much in the background at Harvard. There does seem to be a general interest in the subject, and, since I have a strong continuing interest in it myself, the occasion seems to present itself of offering to graduate students at Harvard a better opportunity than they now have to study and discuss this set of problems and others related to it.

I realize that others than myself have claims to theory courses and that the problems of fitting the members of the Department to courses are not easy. Perhaps I may, however, even for this very reason, put in my own “claim” (if such it may be called) for whatever consideration it deserves. My work in Public Utilities and Industrial Organization could be reduced without difficulty. Donald Wallace could take my part in Economics 49 with Professors Crum and Mason, and, I am sure, would do an excellent job of it. This arrangement, together with a slight reduction in my tutorial load, would give me the time for another half course and I should continue in the undergraduate 4a and 4c. I should have, even then, only one-fifth of my time in theory, the other four fifths in the practical field of government and industry.

You have recently intimated in conversation that I might soon be given a share of the work in theory. I hope it may be next year, and also that a way can be found to arrange for it without interfering with the work which others are now doing or plan to do in the field.

Sincerely yours,
[signed]
Edward H. Chamberlin

________________________

Copy of letter from Chairman Burbank to Dean Murdock
with changes to 1935-36 course announcements

April 17, 1935

Dear Dean Murdock,

Owing to the retirement of Professor Taussig, several changes in the Course Announcement for the coming year will have to be made. The Department recommends the following:

*Economics 7b1. Theories of Value and Distribution. [listed as “Modern Economic Thought” in Report of the President of Harvard College 1935-36, p. 82; ]

Half-course (first half-year). Mon., Wed., and (at the pleasure of the instructor) Fri., at 11. Associate Professor Chamberlin.
[Replacing Taussig, Schumpeter and Sweezy who taught in 1934-35]

Economics 8a2. Introduction to the Mathematical Treatment of Economics.

Half-course (second half-year). Mon., 4-5. Asst. Professor Leontief.
[Replacing Schumpeter who taught in 1934-35]

Economics 11. Economic Theory.

Mon., Wed., Fri., at 2. Professor Schumpeter.
[Replacing Taussig and Schumpeter who taught in 1934-35]

Economics 14b2. History of Economic Thought since 1776.

Half-course (second half-year). Mon., Wed., Fri., at 11. Dr. Monroe.
[Replacing “History and Literature of Economics from the Physiocrats through Ricardo” taught by Professor Bullock in 1934-35. Bullock retired from Harvard September 1, 1935.]

Sincerely yours,

H. H. Burbank

Dean Kenneth B. Murdock
20 University Hall

 

 

Source: Harvard University Archives, Department of Economics, Correspondence & Papers 1902-1950. Box 23, Folder “Course offerings 1926-1937”.

Image Source: Harvard Class Album, 1939.

Categories
Economists Harvard Syllabus Undergraduate

Harvard. Sweezy and Stolper’s Outline for a “good Text”. 1940

 

 

Three handwritten pages of notes taken by Wolfgang Stolper sometime late in 1940 from what appears to have been a brain-storming session with his buddy Paul Sweezy were important enough to Stolper to have been saved by him in a folder filled with economics honors exams and course syllabi from his early years at Swarthmore.

Anyone who has taught an introductory economics course has probably drawn up a rough outline of one’s own ideal course. Stolper actually attached a handwritten title page that was stapled to the three pages “Outline for a good Ec A course or good Text”. I think there is a note of irony in this description, but maybe not, there really was not an abundance of good modern texts of economics at the time. Paul Samuelson’s own text Economics was only published in 1948.

The significance of the outline is to have a glimpse at what other young Harvard economists around Samuelson were thinking at that critical juncture in modern economics.

Note.  I have highlighted my conjectures for the very few illegibilities/ambiguities in the text.

_______________________________

 

Outline for a good Ec A course or good Text.
by Paul M. Sweezy and W. F. Stolper
about Nov. or Dec. 1940

  1. Nat[tional] Income
    1. explanation of what it is
    2. how received
    3. how spent
      poverty even of U.S.
    4. difference betw[een] inc[ome] prod[uced] & paid out.
  2. Conditions of Equil[ibrium]
    1. Full employment
    2. Savings & investment
      period analysis
  3. Secular Trends in investment
    1. Industr[ial] Revol[ution] today
    2. Kondratieff waves
    3. cycle
  4. Capital Formation
    Rel[ation] betw[een] investment & Nat[ional] income
    Hoarding & dishoarding
    Variation in effective Dem[and]
    Credit creation
    Fed[eral] Reserve System
    “Say’s Law”
  5. Full employment & Fiscal Policy
    thorough awareness of (8a)
  6. Assuming Full Employment
    how should factors of prod[uction] be allocated most effectively
    perf[ect] compet[ition] & rel[ative] optimum
    MP conditions
  7. Modifications of compet[ition]
  8. Corpor[ations] & unions, how effect terms of the foregoing analysis
    1. level of ec[onomic] activity
    2. the effectiveness of ec[onomic] activity
  9. The interrelationship of markets
    Interrel[ationship] betw[een] nat[ional] inc[ome] & for[eign] trade
    allocation of resources betw[een] agr[iculture] & ind[ustry]
    bal[ance] of payments, & rel[ationship] of monetary systems for trade multipliers
    cap[ital] movementsState activity designed to modify & improve working of the system

    1. Fiscal Policy & distrib[ution] of income
    2. Publ[ic] utilities, R[ail]R[oad] rates
    3. antitrust & monop[oly] regul[ation] Gov[ernment] Corp[orations,] TVA etc.
  10. [Welfare economics]
    Criteria for overall planning

    1. to increase level of activity
    2. to increase welfare
      1. meanings of welfare
      2. Taxation problems:
        shifting of taxes
        stimulating taxes
  11. Alternat[ive] Ec[onomic] Systems—Overall Planning
    State Cap[italism]—Socialism—Fascism
    Feudalism

 

 

Source: Duke University, Rubenstein Library. Papers of Wolfgang F. Stolper, 1892-2001, Box 22, Folder 1.

Image Sources: Paul Sweezy (left) from Harvard Class Album 1942; Wolfgang F. Stolper (right) from  John Simon Guggenheim Memorial Foundation (Fellow, 1947).

 

 

Categories
Chicago Columbia Economists

The Collected Works of Milton Friedman Website

 

Link to: COLLECTED WORKS OF MILTON FRIEDMAN

Formerly known as Milton and Rose Friedman: An Uncommon Couple

This website is dedicated to the work of Nobel laureate and Hoover Institution fellow Milton Friedman. It contains more than 1,400 digital items, spanning seventy-seven years, including:

  • Transcripts from the Collected Works of Milton Friedman Project, a collection of material housed at the Hoover Institution Archives compiled and edited by Deputy Director Emeritus of the Hoover Institution Charles Palm and former Hoover National Fellow Robert Leeson
  • Text, streaming video and audio, and personal images from Friedman’s personal papers and other Hoover Archives collections
  • Links to Milton Friedman content hosted on other websites

Visitors to the site can access articles and other writings by both Milton and Rose Friedman; stream the entirety of Friedman’s groundbreaking PBS series Free to Choose; and listen to hundreds of his speeches and lectures, including 206 episodes of the Economics Cassette Series, Friedman’s biweekly commentary on economic events. The site also includes links to Friedman’s writings on other websites, bibliographic citations for works by Friedman that are not currently available on the web, and more than a hundred articles and videos created in memory of Friedman on the occasion of his death in 2006 and in celebration of his hundredth birthday in 2012.