Categories
Courses Curriculum Pennsylvania

Pennsylvania. Economics Course Offerings, 1897-98

 

The Department of Philosophy at the University of Pennsylvania in 1897/98 corresponded to what today is generally called the Graduate Faculty of Arts and Sciences. The subjects of economics, politics, sociology, and statistics constituted the tenth group of the sixteen groups making up the Department of Philosophy. A Ph.D. candidate would select a major subject from the group and two minor subjects (recommended that “at least one minor be taken outside the group in which the major lies”). The course offerings and their short descriptions for group X have been transcribed below.

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Departments of the University of Pennsylvania
as of 1897/98
and the year they were established.

(1740. Charitable School; out of which grew, in)
1751. The College.
1765. The Department of Medicine.
1 790-1850. The Department of Law.
1865. The Auxiliary Department of Medicine.
1874. The University Hospital.
1878. The Department of Dentistry.
1883. The Department of Philosophy.
1884. The Department of Veterinary Medicine.
1885. The Veterinary Hospital.
1885. The Department of Physical Education.
1889. The Museum of Archaeology and Paleontology.
1891. The University Library. (Building erected)
1892. The Laboratory of Hygiene.
1892. The Wistar Institute of Anatomy and Biology.

Department of Philosophy

  1. Semitic Languages
  2. American Archaeology and Languages
  3. Indo-European Philology
  4. Classical Languages
  5. Germanic Languages
  6. Romanic Languages
  7. English
  8. Philosophy, Ethics, Psychology and Pedagogy
  9. History
  10. Economics, Politics, Sociology and Statistics
  11. Mathematics
  12. Astronomy
  13. Physics
  14. Chemistry
  15. Botany and Zoölogy
  16. Geology and Mineralogy

 

The degrees conferred in the Faculty of Philosophy are Doctor of Philosophy, (Ph. D. ), Master of Arts, (A. M.), and Master of Science, (M.S.).

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Faculty: 10. Economics, Politics, Sociology and Statistics

Simon N. Patten, Ph.D., Professor of Political Economy
Roland P. Falkner, Ph.D. Associate Professor of Statistics
John Quincy Adams, Ph.D., Assistant Professor of Political Science
Emory R. Johnson, Ph.D., Assistant Professor of Transportation and Commerce.
Samuel McCune Lindsay, Ph.D., Assistant Professor of Sociology
Leo S. Rowe, Ph.D., Assistant Professor of Political Science
Henry R. Seager, Ph.D., Assistant Professor of Political Economy
James T. Young, Ph.D., Lecturer, Administration

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X. ECONOMICS, POLITICS, SOCIOLOGY AND STATISTICS.

Professor Patten, Chairman; Associate Professor Falkner; Assistant Professors Adams, E. R. Johnson, Lindsay, Rowe and Seager; Dr. Young.

Majors —

Political Science, Economics, Transportation and Commerce, Statistics, Sociology.

Minors —

1. Political Science; A 1, 4; B 10.
2. Public Finance; A 3, and B 1, 2, or C 1, 2.
3. Administration; A 8, 6, 3, or A 9, 2, 4b; and C 5d.
4. Economic Theory; B 1, 2, and, B 10, or Mill’s Political Economy(2 hours a week).
5. History of Economic Thought; B 1, 2, 3, 4.
6. Economic History; B 10, and Group IX. C 2, 4.
7. Transportation and Commerce; B 11, 12, and A 4, or B 1, 2, or C 1, 2.
8. Statistics; C 1, 2, 3, 4, or C 1, 2, 3, and A3 (one term), or B 11.
9. Sociology; C 5c, 6, B 1, or C 5b, 6, 1, or C 5c 5d, A 4.

A.POLITICAL SCIENCE, FINANCE AND ADMINISTRATION.

Assistant Professor Adams.

  1. History of Modern Political Ideas (2 hours per week)

Lectures covering the period from Bodin to the present, supplemented by prescribed reading. Relation between political thought and economic and social conditions will be studied, with special reference to the recent political development of England.

  1. Readings in Political Science (1 hour per week)

Reading and discussion of a few recent works on special phases of political problems.

  1. Public Finance (2 hours per week)

Taxation; the classification, incidence and effect of the several taxes. Methods of raising federal revenue in the United States; the revenue systems of the leading States (Second Term).

Assistant Professor Rowe.

  1. The Individual and the State (2 hours per week)

(a) (First Term.) The concept of individual liberty at different periods of political development. Relation to law and government. Distinction between civil and political liberty.  Guarantees, legal and political. The idea of social liberty in democratic communities.

(b) (Second Term.) Relation of the State to industrial action. Socialism and Individualism. Influence of economic and social changes on the sphere of activity of the State. Growth of free contract. Effect of recognition by the State of new forms of association.

  1. History and Theory of the State (2 hours per week)

(a) (First Term.) The general principles of political science. Its province and problems. Relation to the social sciences. Nature of political association; origin of the State; source and function of law. (Omitted in 1897-98.)

(b) (Second Term.) The concept of the State at different epochs. Growth of the distinction between State and government. Ends of the State; sphere of its authority; forms of the State and of government. (Omitted in 1897-98.)

  1. Municipal Government and Institutions (2 hours per week)

(a) (First Term.) The city and conditions of city life in the ancient, mediaeval and modern world. The relation between city and State in Europe and the United States.

(b) (Second Term.) Problems of modern city life. Relation to quasi-public works. Social problems.

  1. The Analytical School of Jurisprudence in its Relation to Political Science. (Second Term) (2 hours per week)

Selected readings from Bentham, Austin, Holland, Maine and Pollock. Relation of this school of thought to the doctrine of natural law and natural rights. Contrast between the historical and analytical concepts in political science.

Dr. Young.

  1. Administration (1 hour per week)

Local rural administration. A comparison of the organization and methods of local administration in Europe and America. Provinz, Bezirk, Kreis; Department, Arrondissement ; County, Township, etc. Modern growth and tendencies.

  1. Practical Problems in Administration (1 hour per week)

Studies in special questions, such as the formation and growth of systems of Civil Service; the development of boards and commissions of administrative control; the administration of factory legislation.

 

B. — ECONOMIC THEORY, ECONOMIC HISTORY, AND TRANSPORTATION AND COMMERCE.

Professor Patten.

  1. History of Political Economy (First Term) (2 hours per week)

The rise and development of the classical school of economists. Adam Smith and Ricardo form the natural centre of the study. Especial attention is given to the sources on which Smith’s Wealth of Nationsis based; and, in the latter part of the course, to the interpretation of Ricardo’s writings.

  1. Recent Development of Political Economy (Second Term) (2 hours per week)

The American economists are carefully studied. Prominence is given to the recent development of the theory of rent, to the theory of marginal utility, to the new aspects of the science resulting from an emphasis of the dynamic causes of social progress, to recent attempts to substitute consumption for production as the starting point of investigation and the basis of theory.

  1. The Relation of English Philosophy to Economics in the Eighteenth Century (First Term) (2 hours per week)

Philosophy and economics have in England been intimately related. The purpose of this course is to bring out the facts, character and extent of this relation and its results on both  sides.

  1. Scope and Method of Political Economy (Second Term) (2 hours per week)

Limitations of scope in economic investigation; its causes as deducible from the history of the science. The method of this science will be compared with that of others. The processes by which the great writers established their characteristic doctrines will be particularly considered. (Omitted in 1897-98.)

  1. Practical Applications of Economic Theory (First Term) (2 hours per week)

The object is to show the practical importance of the new theories, and the changes they will work in public opinion. Among the topics considered will be: taxation, wages, money, retail prices, population, the causes of poverty, the standard of life, co-operation, trades unions, the dependent classes. The distribution of the surplus will be specially considered, along with its proper weight as a factor in practical problems. (Omitted in 1897-98.)

  1. The Problems of Sociology (Second Term) (2 hours per week)

The possibility of a science of sociology; the attempts to found such a science, and the obstacles encountered; the relation of economics to sociology.

  1. Investigation of Special Topics (2 hours per week)

To promote original work and aid in the preparation of theses, special hours are assigned for the discussion of these investigations. Each student must select a topic, and give three hours a week to it throughout the year.

Assistant Professor Seager.

  1. Economic Conference (2 hours per week)

Assigned portions of the following works will be read and discussed: Böhm-Bawerk, Positive Theory of Capital; Hadley, Economics; Smart, Studies in Economics. Reports will be made on cognate topics of special interest.

  1. Advanced Reading in German and French Economics (2 hours per week)

Roscher, Grundlagen der Nationalökonomieand Philippovich, Allgemeine Volkswirthschaftslehre.
Leroy-Beaulieu, Traité théorique et pratique d’économie politique.

  1. The Industrial History of England and the Development of Economic Theory from 1750 to 1870 (2 hours per week)

The main features of the industrial revolution will be described, and the effects of the growth of the factory system on the position of the wage-earner, on legislation and on economic thought, will be considered. Then attention will be directed to the Corn-Law agitation, growing out of the Napoleonic war period; and the results of the Free Trade policy, inaugurated in 1846, will be discussed. Topics will be assigned for special reports. Lectures and assigned reading.

Assistant Professor E. R. Johnson.

  1. Theory of Transportation (1 hour per week)

General Theory of Transportation. The economic functions and the ideal organization of transportation. Competition and co-operation in railway management. The past and present functions of traffic associations. Relation of the State to transportation. Theories underlying governmental regulation in the United States and other countries. The theory of rates. Lectures accompanied by an outline of assigned readings.

  1. American Railway Transportation (2 hours per week)

Seminary, based mainly upon documentary sources. The work comprises (1) an examination of the salient features of the organization and management of railway transportation in the United States; and (2) a special study of railway regulation by the States and by the Federal government.

  1. Transportation Systems of the United Kingdom and Germany (1 hour per week)

Organization, relation to the government, results of regulation of railways in the United Kingdom, and of State ownership in Germany. (Omitted in 1897-98.)

  1. History of Commerce since 1500 (1 hour per week)

Lectures, assigned readings and investigations. Special attention will be given to the causes that have given the United Kingdom the commercial supremacy of the world. (Omitted in 1897-98.)

 

C. — SOCIOLOGY AND STATISTICS.

Associate Professor Faulkner.

  1. Introduction to Statistics (First Term) (2 hours per week)

A study of the statistics of population will serve to develop the general aspects of the science, the organization of statistical work, and the possibilities and limitations of statistical argument. Familiarity with the literature and the sources of statistical information will be the chief aim.

  1. Statistics of Economic Problems (Second Term) (2 hours per week)

This course supplements course 1: foreign commerce, railroads, banks, coinage, prices, strikes, wages, cost of living, will be studied from a statistical point of view. The literature will be reviewed and criticised.

  1. History and Theory of Statistics (First Term) (2 hours per week)

Summary of statistical efforts and statistical theory, culminating in the elaboration of statistical methods. Consideration of statistics as a science of method; the basis and form of  statistical judgments. (Open to students who have taken courses 1 and 2.)

  1. Statistical Organization (Second Term) (2 hours per week)

The history, organization and function of statistical agencies at home and abroad will be surveyed. The factors that contribute to the efficiency of census departments, labor bureaus, etc., will be studied. The statistical offices of the United States will be studied and their methods criticised. (Open to students who have taken courses 1 and 2.)

Assistant Professor Lindsay.

  1. Theory of Sociology (Two Years) (2 hours per week)

A systematic course in four parts; each part requiring two hours per week for half a year, and constituting an independent course.

(a) Methodology of the social sciences; their relations to economics. The problems of sociology. Brief review of the leading attempts to construct sociology as a science — Aristotle, Montesquieu, Comte, Spencer, Ward and Giddings.

(b) Primitive Society. Evolution of social organization and social control among primitive men. Special study of the forms of the family, and of the psychology of primitive society. Particular attention is given to the records of the American Indians.

(c) Structure of Modern Society. A study of the forms of social organization and social control resulting from modern demogenic association. The basis and relative strength of educational, political, religious and philanthropic factors.

(d) Social Movements of Modern Times. A discussion of the leading practical social problems of to-day, with a view to establishing a consistent theoretical point of view, and a method as a guide to the study of temporary and changing social conditions.

Note. — 5 d is open only to students who have had parts a, bor c, or an equivalent.

  1. Social-Debtor Classes (2 hours per week)

This course deals with those groups and individuals in modern society who contribute nothing to the social surplus, but who participate in it, and hence are social debtors. They are considered under the heads of (1) the reclaimable class; (2) the naturally dependent class; (3) the pauper class; (4) the criminal classes. The methods of dealing with these groups are likewise classified and discussed.

  1. Sociological Field Work (2 hours per week)

For special investigation of local social conditions and institutions. Opportunities for visiting industrial, educational and philanthropic institutions are afforded. Each student is expected to select a topic and make a careful study of some concrete social problem, with special reference to conditions in Philadelphia. Meetings for private conference and discussion are assigned.

Note. — In the academic year 1896-97, a special sociological investigation of the condition of the Negroes in the Seventh Ward of Philadelphia, is being carried on under the direction of William E. Burkhardt Du Bois, A. B., Ph. D., who was appointed for the year Assistant in Sociology for this purpose. The College Settlement of Philadelphia is co-operating in this investigation, and has appointed Miss Isabel Eaton, B. L., Fellow in charge of its work.

 

SEMINARY.

Seminary in Political Science, Economics and Sociology (2 hours per week)

The seminary meets each Monday evening during the academic year, for the presentation and discussion of papers prepared by the members under the direction of the professors in charge of the several topics in Group IX.

 

Source: Catalogue of the University of Pennsylvania. Fasciculus of the Department of Philosophy. Announcements for Session 1897-98, pp. 44-50.

 

Categories
Chicago Columbia Cornell Economists Pennsylvania

Pennsylvania. Ph.D. Alumnus, William H.S. Stevens, 1912

 

The following letter from E.R.A. Seligman that recommended the appointment of three young economists to junior positions in Columbia College for 1912/13 was the starting point for this post.  B. M. Anderson, Jr. and R. M. Haig were already well known to me.  The third economist, W. S. Stevens, was completely new however, even though I have become reasonably familiar with the comings and goings of people who had taught economics at Columbia during the first half of the 20thcentury. And so I went to work to figure out the future career (with respect to this April 23, 1912 letter) of Mr. W.S. Stevens.  My results are found below, following the letter and they present a teachable moment about the use of the subscription genealogical website ancestry.com in tracking down economists of yore. Incidentally many research and public libraries provide access to ancestry.com for their users. That site together with the digital archives of hathitrust.org and archive.org were used to follow this economist’s career. 

What did I learn from this exercise? Well, a reprint of a single QJE article represented a dissertation at the University of Pennsylvania in 1912. Also the life of an itinerant scholar is a real challenge to reconstruct, but especially for those cases when the absorbing state turns out to be a job outside of academia. An obituary or a tip from a death certificate pointing to the last employment is extremely useful should you be able to find one.

Incidentally, for those with more of a genealogical interest in this economist: W. S. Stevens was married three times: to Edyth Josephine Frost (1911-1922, divorce; one child, Joseph Libby Stevens b. 1913, d. 2000); to Mary E. Laird (1923-?); and to Rachel Bretherton (?-1966, died in 1966). 

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Copy of Seligman letter recommending three instructional appointments to Columbia College

April 23, 1912

Mr. F. P. Keppell
Dean, Columbia College.

My dear Dean Keppel:-

I take pleasure in nominating herewith the following gentlemen for positions in the College:-

Dr. B. M. Anderson, Jr., [A.B., Missouri, 1906; A.M., Illinois, 1910; Ph.D., Columbia, 1911] instructor, reappointment.

W. S. Stevens, Colby College, A.B., 1905; George Washington University, A.M., 1909; Chicago University, Summer, 1910; Cornell University, 1910-11; Chicago University, Summer, 1911; University of Pennsylvania, 1911-12; Fellow in Economics and Political Science, George Washington University, 1908-1909; Fellow in Economics, Cornell, 1910-1911; Assistant in Economics, Pennsylvania, 1911-12, lecturer in Economics.

R. M. Haig, A.B., Ohio Wesleyan University, 1908; A.M., University of Illinois, 1909; Secretary and Research Assistant to the Dean of Graduate School, University of Illinois, 1909-11; Garth Fellow, Columbia, 1911-12, lecturer in Economics. (Will receive degree of Ph.D. this autumn).

If there is any further information that I can give you about these gentlemen, pray command me.

Faithfully yours,

SE-S

Source:  Columbia University Archives.  Edwin Robert Anderson Seligman Collection, Box 36, Folder “Box 98A, Columbia (A-Z) 1911-1913”.

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William Harrison Spring Stevens, 1885-1972
Publications

William Harrison Spring Stevens (University of Pennsylvania). The powder trust, 1872-1912. [cover: “Ph.D. Thesis, University of Pennsylvania, 1912. Reprint of QJE article].

William S. Stevens (William S. Stevens). The powder trust, 1872-1912. Quarterly Journal of Economics, Vol. 26, No. 3 (May, 1912), pp. 444-481.

W. S. Stevens (Columbia University). A group of trusts and combinations. Quarterly Journal of Economics, Vol. 26, No. 4 (August, 1912), pp. 593-643.

William S. Stevens (Ph.D. Columbia University), ed. Industrial combinations and trusts. New York: Macmillan, 1914.

William H. S. Stevens (Ph.D. Sometime Professor of Business Management in the Tulane University of Louisiana). Unfair Competition: A Study of Certain Practices. Chicago: University of Chicago Press, 1917. [Dedication: “To Professor James C. Egbert of Columbia University with pleasant recollections of my experience in administrative work as his subordinate”]

 

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William Harrison Spring Stevens, 1885-1972
C.V.

Born April 15, 1885 [3, 4] in Eau Claire, Wisconsin [4]

Colby College, A.B., 1905 [1]

George Washington University, A.M., 1909 [1]

Chicago University, Summer, 1910 [1]

Cornell University, 1910-11 [1]

Chicago University, Summer, 1911 [1]

University of Pennsylvania, 1911-12 [1]

Fellow in Economics and Political Science, George Washington University, 1908-1909; [1]

Fellow in Economics, Cornell, 1910-1911 [1]

Assistant in Economics, Pennsylvania, 1911-12, lecturer in Economics. [1]

University of Pennsylvania. Ph.D., 1912 [2]

Instr. in econ., Columbia Univ., 1912-15 [2]

Prof. bus. management, Tulane Univ. of La., 1915-16 [2]

Special expert, Federal Trade Commission, 1917 [2]

Assistant chief economist, Federal Trade Commission [3]

Economist at Interstate Commerce Commission, 1942 [4]

Last occupation. “Dr. of Econ., Fed Government” [5]

Died September 14, 1972 in Alexandria Virginia [5]

Sources:

[1] Seligman letter (above) April 23, 1912

[2] General Alumni Catalogue, University of Pennsylvania, 1917, p. 474.

[3] World War I, Draft Registration Card. September 12, 1918.

[4] World War II, Draft Registration Card, April 27, 1942

[5] Death Certificate, State of Virginia September 20, 1972

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William Harrison Spring Stevens, 1885-1972
Fun Fact: Son of the American Revolution

“John Boyes, my great grandfather, enlisted in April 1777 in the 6thCompany, 3d N.H. regiment; Daniel Livermore Capt., Alex Scammell Col. He served three years, participated in battles of Hubbardstown, Stillwater, first and second Monmouth and was in Gen. Sullivan’s expedition against the six Indian Nations (Iroquois). He was wounded in the arm at Stillwater and later was captured and transported to Limerick, Ireland, and thence to Mill Prison in England where he was confined for one year. He was honorably discharged after three years service, on April 6, 1790.”

Source: Application by William H. S. Stevens (September 24, 1962) for Membership in the Virginia Society of the National Society, Sons of the American Revolution. as great-grandson of John Boyes (27 September 1760 in Boston, died 2 May 1833 in Madison Maine).

Image Source:  William H. S. Stevens class portrait from the his college yearbook, Colby Oracle, 1906.

 

Categories
Economists Germany Pennsylvania

Pennsylvania. Short encyclopaedia article on Simon Patten, 1903

 

Today’s artifact is a sample short biography of an American economist that I found in The New International Encyclopaedia (eds.: F.M. Colby, H.T. Peck, and D.C. Gilman) that was published in New York City, 1902-04. This encyclopaedia looks like a convenient source of brief mid- and late-career assessments of the movers-and-shakers of economics at a time when their moves were still shaking (at least their students) that I shall return to from time to time.

 

For much more on the life and career of this University of Pennsylvania economist, Simon N. Patten, links can be found at the page dedicated to him at The History of Economic Thought website. Cf. Rexford G. Tugwell. “Notes on the Life and Work of Simon Nelson Patten.” Journal of Political Economy, vol. 31, no. 2, 1923, pp. 153–208.

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PATTEN, Simon Nelson (1852—[1922]).

An American economist, born at Sandwich, Ill. He was educated at Jennings’s Seminary (Ill.), Northwestern University (Ill.), and at the University of Halle, Germany, and received the degree of Ph.D. in 1878. During the next ten years he taught in the public schools of Iowa and Illinois. In 1888 he was elected professor of political economy at the University of Pennsylvania. His principal works are: Premises of Political Economy (1885); The Consumption of Wealth (1889) [2ndedition, 1901]; The Economic Basis of Protection (1890); The Theory of Dynamic Economics (1892); The Theory of Social Forces (1896); Development of English Thought (1899); The Theory of Prosperity (1902); Heredity and Social Progress  (1903). Professor Patten ranks as one of the most brilliant and original of American economic writers. His chief contributions to economics are his analyses of dynamic forces in economic life, of monopoly elements in value, and of the bearing of the laws of consumption upon distribution. A large part of his work is rather sociological than economic.

 

Source:  The New International Encyclopaedia, (eds. F. M. Colby, H. T. Peck, and D. C. Gilman) New York: Dodd, Mead & Co. (1903), Vol. 13. p. 797.

Image Source:  American Society for the Extension of University Teaching. Supplement to the The University Extension Bulletin. Vol. I, No. 8. Philadelphia: May 10, 1894. Copy found in Box 2 of Franklin Henry Giddings Papers, Columbia Rare Book & Manuscript Library, Folder “Photographs”.

Categories
Carnegie Institute of Technology Columbia Curriculum M.I.T. Pennsylvania

Pennsylvania. Memos from Ando and Dhrymes to the curriculum committee, 1965

 

The significance for the history of economics of the following three memos is that they provide an illustration of the diffusion (infiltration?) of the M.I.T. canon to other departments. Albert Ando taught a few years at M.I.T. before coming to Penn and Phoebus Dhrymes (M.I.T., Ph.D., 1961) wrote his dissertation under Kuh and Solow.  The memos were sent to the curriculum committee of the department of economics at the University of Pennsylvania in January 1965 (at least the Ando memo is dated January 14, 1965 and it explicitly refers to the Phoebus memo and their recommendations to the Mathematics Committee that are undated).

Obituaries for both Ando and Dhrymes have been added to this post and precede the three memos.

Economics in the Rear-view Mirror thanks Juan C. A. Acosta who found these memos in the Lawrence Klein Papers at the Duke University Economists’ Papers Project and has graciously shared them for transcription here. 

Addition to post: At Banca d’Italia, N. 7 – Albert Ando: a bibliography of his writings.

_______________________________

Albert Keinosuke Ando
1929-2002
Obituary

Dr. Albert Ando, professor of economics, SAS and professor of finance, Wharton, died on September 19 [2002] at the age of 72.

Dr. Ando was born in Tokyo, Japan in 1929 and came to the United States after World War II. He received his B.S. in economics from the University of Seattle in 1951, his M.A. in economics from St. Louis University in 1953, and an M.S. in economics in 1956 and a Ph.D. in mathematical economics in 1959 from Carnegie Institute of Technology (now Carnegie Mellon University). Dr. Ando came to Penn in 1963 as an associate professor of economics and finance and became professor of economics and finance in 1967. He held this position until his death.

Dr. Lawrence Klein, Nobel laureate in economics and professor emeritus of economics wrote the following about his colleague.

After World War II many Japanese scholars visited the United States for general education and to modernize their training in some key subjects. Albert Ando, Professor of Economics and Finance, who died of Leukemia last week was an early arrival in the 1940s. He was educated at Seattle and St. Louis Universities and often expressed gratitude at the career start provided by his Jesuit teachers in an adopted country.

He completed the doctoral program in mathematical economics at the Carnegie Institute of Technology, where he was strongly influenced by Herbert Simon with whom he collaborated in research papers on aggregation and causation in economic systems. He also worked closely with another (Nobel Laureate to be) Franco Modigliani on the life cycle analysis of saving, spending, and income.

Dr. Ando was on the faculties of the Carnegie and of the Massachusetts Institutes of Technology before moving to the University of Pennsylvania, where he remained since 1963. He had visiting appointments at universities in Louvain, Bonn, and Stockholm. He consulted with the International Monetary Fund, the Federal Reserve Board, The Bank of Italy, and the Economic Planning Agency of Japan. He held many positions as an editor of scholarly journals and wrote numerous articles and books.

The main contributions of Professor Ando were in econometrics (theory and applications), monetary analysis, demographic aspects of household economic behavior, economic growth, and economic stabilization. His work on the Massachusetts Institute of Technology, University of Pennsylvania, and Social Science Research Council (MPS) model was of great benefit for the research department of the Federal Reserve Board, and his more recent work on econometrics for the Bank of Italy had been very fruitful.

He served as chairman of the graduate group in the economics department, 1986-1989, and developed excellent working relationships with many advanced students. He set very high standards, and those he worked with as thesis supervisor benefited greatly. He was extremely loyal and dedicated to their work, maintaining close connection with them after they departed from the University.

During his long and fruitful career, he earned many honors–as Fellow of the Econometric Society, as a Ford Foundation Faculty Research Fellow; as a Guggenheim Fellow, and a Japan Foundation Fellow. He was given the Alexander von Humboldt Award for Senior American Scientists.

Albert Ando is survived by his wife of 35 years, Faith H. Ando, two professorial sons, Matthew and Clifford, and a daughter, Alison, who has just been admitted to the New York Bar. His mother, sister, and brother, live in Japan.

–Lawrence Klein, Professor Emeritus of Economics

Source: University of Pennsylvania. Almanac. Vol. 49, No. 6, October 1, 2002.

_______________________________

Phoebus James Dhrymes
(1932-2016)

Phoebus J. Dhrymes (1932-2016), the Edwin W. Rickert Professor Emeritus of Economics, was a Cypriot American econometrician who made substantial methodological contributions to econometric theory.  Born in the Republic of Cyprus in 1932, Phoebus Dhrymes arrived in the United States in 1951, settling with relatives in New York City. After a few months, he volunteered to be drafted into the US Army for a two-year tour of duty; afterwards he attended the University of Texas at Austin on the GI Bill. In 1961 he earned his Ph.D. from the Massachusetts Institute of Technology under the supervision of Edwin Kuh and Robert Solow (Nobel Laureate 1987).  After a year-long post-doctoral fellowship at Stanford, he began his professorial career at Harvard, then moved to the University of Pennsylvania, and then UCLA.  In1973 he joined the Department of Economics at Columbia University; he was named the Edwin W. Rickert Professor of Economics in 2003 and retired in 2013.

Econometrics refers to that aspect of the economist’s work concerned with quantifying and testing economic trends. Phoebus Dhrymes‘early research focused on problems of production and investment, but he soon turned to more methodological work and produced important results on time series and on simultaneous equations.  Throughout his career, Phoebus Dhrymes placed much emphasis on the dissemination of scientific knowledge. In the early 1970s he helped found the Journal of Econometrics, which has become the leading journal in this field.  He was also on the advisory board of the Econometric Theory, and was managing editor and editor of the International Economic Review.He was a fellow of the Econometric Society and the American Statistical Association.Dr. Dhrymes was also one of the founders of the University of Cyprus, from which he was later awarded an honorary degree.

He wrote a series of influential textbooks including Distributed Lags:  Problems of Estimation and Formulation. This work was translated into Russian and published by the Academy of Sciences of the Soviet Union, and in the 1970s Dr. Dhrymes was invited to visit the (now former) Soviet Union, specifically Moscow and Novosibirsk. At the time such visits were unusual events for westerners, requiring rarely-issued visas and security clearances, particularly for centers of research such as Novosibirsk.

In a 1999 interview he characterized his books as “filters that distill and synthesize the wisdom of many contributors to the subject.   On this score, I was influenced in my writing by the way I learn when studying by myself.”  (Econometric Theory, 18, 2002)

Dr. Dhrymes is survived by his daughter, Alexis, and his sons, Phoebus and Philip. In his personal life, he was regarded as a generous, kind and gentle man, always there for his family. He came from humble beginnings, and garnered great respect from his family and friends for his achievements. He spoke often of how much he enjoyed teaching. He was always available to his students.He encouraged individualized thinking and understanding of processes rather than rote memorization in learning. He had a warm and affable demeanor, recalled fondly by former students and family members. He will be sadly missed.

Source: Obituary for Phoebus J. Dhrymes at the Columbia University Department of Economics Website.

_______________________________

Memorandum

To: Herbert Levine, Chairman, Curriculum Committee
From: Albert Ando
Subject: Offerings and Requirements in Macroeconomics, Monetary Theory, and Related areas in General Economics Ph.D. Program

  1. Macroeconomics

Enclosed herein is a copy of the outline and references of Economics 621 [The outline and references will be posted later] as I am offering it this fall. It is fairly similar to [the] one year course in macroeconomics which is required of all Ph.D. students at MIT. I am sure that opinions would vary on details, but it is my view that this represents more or less the topics and literature that all Ph.D. students in economics should be familiar with. Ideally, I think there should be another major topic at the end of the outline dealing with current problems and policies.

It is fairly clear that this outline could not be covered in one term, particularly under our present system in which there are only 13 to 14 weeks of classes for a term. As a matter of fact, this fall, with a great deal of rushing throughout the term, I will be able to finish the static part of the outline by the end of the fall term, but certainly no further.

This suggests that the required macroeconomics for Ph.D. students should be two term sequence of courses, the first term dealing essentially with the Keynesian static analysis, and the second term with dynamics, i.e., business cycles and growth models.

  1. Monetary Economics

I have just discovered that Economics 622 is taught without any prerequisite, and that there will be some students in 622 who have not had any macroeconomic theory this spring. I am somewhat stunned, and do not see how I will be able to teach a satisfactory course under the circumstances. This situation is indicated by the fact that 622 is required not only of Ph.D. students in economics but also of master’s candidates, and therefore it is apparently impossible to exclude the students from 622 who have not had 621. An obvious temporary solution is to make those students who have not had 621 wait until next year to take 622. In my view, elements of monetary problems should be included in the first term of the required macroeconomics course, and courses in monetary theory should be made elective. The course in monetary theory should then be taught assuming that students have had adequate preparation in macroeconomics and microeconomics, particularly the theory of general equilibrium, at the level where we can discuss the research and developments in the past dozen years or so, bringing students up to a point where they can draw a thesis topic from their work in the course. There is a room for an argument that there should be another course in addition to the advanced theory course, which deals with more traditional money and banking material. As a matter of fact, I offered two courses in monetary economics at MIT for several years, one dealing with traditional money and banking material taking the one term each of macro and micro economics as prerequisites, and another highly theoretical and advanced course taking two terms each of macro [and] micro economics as prerequisites. It seems to me, however, that Economics 639, Monetary Problems and Policies, should serve as the good traditional money and banking course, so that only one additional course seems to be needed.

  1. Microeconomics and Mathematics

After some discussion with Dhrymes, it is fairly clear that microeconomics should also be taught as a two term sequence. A possible division between two terms would be to deal with partial equilibrium analysis of consumers and firms during the first term, and with the general equilibrium analysis and welfare economics in the second term.

During this fall term, Dhrymes and I found it necessary to conduct a few special remedial sessions in mathematics so that some rudimentary notions of calculus and linear transformation will be available in the discussions in theory courses. The idea, of course, is to arrange so that all students are equipped with minimum of mathematics by the beginning of the second term. If the recommendation of the committee on mathematics is adopted, so that students will learn elementary calculus and the matrices and linear transformation, including rudiments of linear differences and differential equations at the level suggested by the committee it is possible to synchronize it with theory courses so that theory courses will be using only those mathematics students are learning in mathematics remedial courses. For instance, the first term of macro theory would not require too much mathematics except the notion of the systems of equations and their solutions, and the first term of micro theory not much more than the condition of extremum in a fairly informal manner. In the second term, on the other hand, theory courses will require conditions of stability in the general equilibrium analysis, and the difference and differential equations in dynamic models in macroeconomics.

  1. Overall First year program and Second year fields of specialization.

In addition to micro and macro theories and mathematics required for these theory courses, students should be asked to learn minimum of statistics and econometrics. The level of statistics and econometrics should be maintained at the level of text books such as Frazer, Brunk, or Mood plus Johnston.

The implication of the above statement is that the course schedule for typical first year Ph.D. students should look as follows:

First term:

Microeconomics I (Partial equilibrium analysis)
Macroeconomics I (Static Keynesian analysis, including some monetary considerations).
Mathematics I (Elementary calculus)*
Mathematics II (Elementary Linear Algebra)*
Economic History (For those with Adequate mathematical training)

*For the suggested content of mathematics courses, see recommendations of Mathematics Committee.

Second Term:

Microeconomics II (General equilibrium analysis and welfare economics).
Macroeconomics II (Dynamics, business cycles and growth)
Econometrics (6 hour course)

This schedule, of course, would be subject to variations depending on the background and preparations of students. For instance, students who already have sufficient mathematical training might be encouraged to take a course in economic history and a course in somewhat more advanced mathematics, such as mathematical theory of probability or a course in topology in the first term in place of Mathematics I and II.

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Lists of Topics for Mathematics for Economists
[Recommendations of Ando and Dhrymes submitted to the Mathematics Committee]

(Mr. Balinski is to suggest some alternative text books)

  1. Calculus
    1. Sets and Functions.
      1. Definitions
      2. Operations on Sets and Subsets.
      3. Relations, Functions.
        K.M.S.T. Chapter 2, Sections 1 through 6, possibly Sections 10 through 13.
    2. Functions, Limits, and Continuity.
    3. Differentiation and Integration of Functions of one variable.
      1. Concepts and Mechanics.
      2. Infinite series and Taylor’s Theories.
      3. Extremum Problems.
    4. Differentiation and Integration of Functions of many variables.
      1. Concepts and mechanics.
      2. Extremum problems, nonconstrained and constrained.
      3. Implicit Function Theorem.
        Any elementary text book in Calculus (e.g. Thomas; Sherwood and Taylor), Supplemented by some sections of a slightly more advanced text on Implicit Function Theorem and La Grange multipliers.
  2. Linear Algebra and others.
    1. Vector Spaces and Matrices.
      1. Vector Spaces and Matrices, Definitions, and Motivations.
        Perlis, Chapters 1 and 2.
      2. Linear Transformations.
        K.M.S.T., Chapter 4, Sections 7 through 12.
      3. Equivalence, Rank, and Inverse.
        Perlis, Chapter 3.
        Perlis, Chapter 4.
      4. Quadratic Forms, Positive Definite and semi-definite Matrices.
        Perlis, Chapter 5, Sections 1, 2, and 5
      5. Characteristic Vectors and Roots.
        Perlis, Chapter 8, Sections 1 and w[?], Chapter 9, Sections 1, 2, 5, and 6.
      6. Difference and Differential Equations; Linear with Constant Coefficients.
        Goldberg, Chapters 1, w, e, and Chapter 4, Sections 1 and 5; Perlis, Chapter 7, Section 10. Some reference to two dimensional phase diagram analysis of non-linear differential equations with 2 variables. Lotke?
      7. Convex Sets.
        K.M.S.T., Chapter 5.

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MEMORANDUM
January 14, 1965

To: Curriculum Committee
From: Phoebus J. Dhrymes
Subject: Mathematics, Microeconomics, Statistics and Econometrics in the Economics Graduate Training Program

  1. Mathematics

It has become quite apparent to me during the course of the last term that our students are woefully equipped to handle instruction involving even very modest and elementary mathematics.

I think it is quite generally accepted that a student specializing in Theory, Econometrics and to a lesser extent International Trade and Industrial Organization would find it increasingly difficult to operate as a professional economist, and indeed seriously handicapped in satisfactorily carrying on a graduate study progress, without adequate mathematical training. With this in mind Albert Ando and I have prepared a tentative list of topics that graduate students ought be minimally familiar with and which has been presented to the Mathematics Committee.

This could form a remedial (and a bit beyond) course to extend over a year and to be taken (by requirement or suggestion) by students intending to specialize in the fields mentioned above during their first year of residence.

  1. Microeconomics

It has been my experience in teaching Econ. 620 that one semester is a rather brief period for covering the range of microeconomic theory a graduate student in Pennsylvania ought to be exposed to. As it is the case at both Harvard and MIT, I would propose that the course Econ. 620 be extended to a year course. Roughly speaking, the topics to be covered might be:

  1. Theory of Consumer Behavior
    1. the Hicksian version
    2. the von Neumann-Morgenstern version, including the Friedman-Savage paper
  2. Demand functions, elasticities, etc.
  3. Theory of the firm; output and price determination
    1. Production functions
    2. Cost functions and their relations to i.
    3. Revenue and profit functions and the profit maximizing hypothesis
    4. The perfectly competitive firm and industry, and their equilibrium; comparative statics; supply functions
    5. The monopolistic firm
    6. Monopolistic competition
    7. Duopoly and oligopoly
  4. Factor employment equilibrium
    1. Factor demand functions
    2. Factor employment equilibrium under various market institutional arrangements
    3. Some income distribution theory
    4. Factor supply.
  5. General Equilibrium Analysis; Input-Output models
  6. Welfare Economics (Samuelson; Graaf)
  7. Capital Theory (Fisher, Wicksell, recent contributions)
  8. (Marginally) Some revealed preference theory; or neoclassical growth models; or alternative theories of the firm (e.g., Cyert and Marsh)

It would be desirable if students were sufficiently well-equipped mathematically to handle these topics at some level intermediate between Friedman’s Price Theory Text and Henderson and Quandt; however, since this is not the case at present some other alternative must be found, such as in the manner in which the propose mathematics course is taught, and the order in which topics above are covered. The split of the subjects could be a) through c) or d) for the first semester and the remainder for the second semester. Clearly, neither the topics proposed nor the split represent my immutable opinion and there is considerable room for discussion.

  1. Statistics

At present the statistical training of our students suffers from their inadequate mathematical preparations.

It is my opinion that minimally we should require of our students that they be familiar with the elementary notions of statistical inference, estimation, testing of hypotheses and regression analysis at the level of, say, Hoel, or Mood and Graybill, or any other similar text, (a semester course). For students intending to specialize in Econometrics or other heavily quantitative fields, then it should be highly desirable that a year course be available, say at the level of Mood and Graybill, Graybill, or Fraser, Hogg and Craig, Brunk, etc., with suitable supplementary material. Since, we do have access to a statistics department it might be desirable for our students to take a suitable course there.

Again, due to the problems posed by the mathematics deficiency of incoming students, some accommodation must be reached on this score as well.

  1. Econometrics

Econometrics should not be a required subject; rather the requirement—minimal requisite—should be confined to the one semester course indicated under III. It would be desirable to offer a year course to be taken after the statistics sequence and which would cover at the level of, say, Klein, Goldberger, or my readings showing applications and problems connected thereto.

Topics, could start by reviewing the general linear model, Aitken estimators and similar related topics; simultaneous equation and identification problems, k-class estimators, 3SLS, maximum likelihood estimation, full and limited information, Monte Carlo methods.

Also selected topics from Multivariate Analysis; specification analysis, error in variable problems; elements of stochastic processes theory and spectral and cross spectra analysis.

It might be desirable to teach these subjects in the order cited above, although it would appear preferable to have multivariate analysis precede the review of the general linear model.

  1. General Comments:

I generally agree with Albert Ando’s memorandum on proposed curriculum revision in so far as they pertain to Mathematics requirements, Macro-economics and Monetary Theory.

I think that at present we require our students to take too many courses. I would favor only the following requirements; the basic Micro and Macro year courses. At least a semester of statistics, as indicated under III, and one semester in either economic history or history of economic thought—although I do not feel too strongly on the latter. I presume, in all of this that students in our program are only those ultimately aiming at specialization in Theory, Econometrics, International Trade, Industrial Organization, and possibly Comparative Systems, or Soviet Economics. It is my understanding that our curriculum will not cover those concentrating in Labor Relations, Regional Science or Economic History.

Thus, through their first year our students would be taking more or less required courses, with the second year essentially left open for their special fields of concentration.

Thus, the course program of a typical first year student will look more or less as shown in Albert Ando’s memorandum, p. 4, although I would be somewhat uneasy about requiring 6 hours of mathematics in the first term and 6 hours of statistics (econometrics) in the second term of the first year. Nonetheless I do not object strongly to this, and indeed in this past term many of the students taking 620 and 621 had in effect taken a six-hour course in Mathematics, 611 as taught by Dorothy Brady and approximately 3 hours as taught by Albert Ando and myself.

Quite clearly the above are merely proposals intended to serve as a basis for discussion an ultimately for guidance of entering students in planning their program of study rather than rigid requirements.

 

Source: Duke University, David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive, Lawrence Klein Papers, Box 19, Folder “Curriculum”.

Images: Left, Albert Ando; Right, Phoebus Dhrymes. From the respective obituaries above.

Categories
Business School Columbia Dartmouth Harvard Pennsylvania

Columbia School of Business Opens. Seligman’s Thoughts, 1916

 

Columbia University economist provides “the history of the movement which has culmination in the adoption of this project”, i.e. the founding of Columbia School of Business. The earlier resistence of the economics department to a School of Business is explained as well as the flip-flop to its support of opening of the School of Business in the autumn term of 1916.

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A UNIVERSITY SCHOOL OF BUSINESS
by Edwin R. A. Seligman

[I]

THE opening of the Columbia School of Business in the autumn of 1916 marks another milestone in university education. The history of the movement which has culminated in the adoption of this project is highly interesting.

Less than a generation ago the only opportunities offered in education for business were the classes in single and double bookkeeping, usually conducted both here and abroad under the high- sounding title of “Business Institutes.” All they did was to give a smattering of ordinary bookkeeping with occasionally some slight instruction in English or a foreign language thrown in. One or two farsighted men already at that early period appreciated the need of a more systematic preparation for business life; but theirs were voices crying in the wilderness. It was the time when any kind of institutional education, except for the ministry, counted but little, the time when the lawyer was supposed to prepare himself for his work by serving an apprenticeship in a law office, and when the college graduate desirous of entering business life was at a disadvantage in the estimation of the employer as compared with the youth who had started from the bottom and who had enjoyed a few years of business experience. One of the broad-minded exceptions was Mr. Joseph Wharton of Philadelphia, through whose liberality the Wharton School was created at the University of Pennsylvania in the early eighties. This school, however, had at first only a moderate success, as did the similar schools started from time to time by other colleges and universities. The time was not yet ripe. When Columbia came to consider the problem, it preferred to devote its energies to political science rather than to business, and to purely University or graduate rather than to undergraduate work. As a consequence there was initiated the School of Political Science, which on its pedagogical side became a training school for teachers of the social sciences and for governmental administrators.

In the meantime, the economic development of the United States as well as of Europe led to a constant broadening of the scale on which business enterprises were carried on, and the demand for really adequate commercial training became more and more insistent. Toward the end of the last century the interest thus awakened became so strong that the Chamber of Commerce of New York was ready to grant an annual subvention to Columbia if it should be decided to develop courses of the desired character. The situation was canvassed by a small committee; but it was finally decided not to accept the overtures made by the committee of the Chamber of Commerce for several reasons. In the first place, it was felt that the demand had not yet become sufficiently great to justify the expectation of a student body satisfactory in either quantity or quality. Secondly, we were convinced that a successful school of the character desired would have to be conducted along academic lines of a modified kind, and that the best results could be hoped for only by securing academic teachers with a business experience rather than business men without academic experience. It was, however, at the time impossible to find a sufficient number of qualified instructors. Moreover, the literature of the subject was as yet embryonic, and the proper curriculum of such a School had nowhere been thoroughly worked out. In the third place, it was realized that the most important consideration at the time in American educational development, and especially at Columbia, was to emphasize the purely scientific or graduate work in political science; and the Department of Economics feared lest there might be danger in diverting its energies from the scientific field to work of a technical or professional character, such as would be necessitated by a new School of the kind contemplated. Finally, the movement for the creation of commercial high schools had come to a head, and it was deemed wiser to ascertain how far the gap might be filled by the secondary schools before deciding as to what should be done by Columbia. For these reasons the project was postponed, and the entire energy of the Department of Economics was directed to the rounding out of the University courses in political science and to the improving and broadening of the tender of the undergraduate or college course in economics.

During the last fifteen years, however, an instructive development has occurred. In the first place, there was a growing recognition of the need for a broader and more adequate training for business. Chambers of Commerce and other commercial bodies both here and abroad began to grow more restless and more insistent in their demands. The old feeling of prejudice on the part of the successful business man toward the college graduate diminished, although he still maintained that the college curriculum might profitably be modified in some respects to give a better preparation for business. This demand, which emanated primarily from the commercial community, now found expression in the new commercial schools in England and even more in Germany, and a rich fund of knowledge was being accumulated from the experience of these foreign schools. In the United States, moreover, it was gradually recognized that the commercial high schools, however excellently managed, were not quite adequate to solve the problem.

In the course of time professional schools of the desired kind were initiated, although along widely varying lines, by several American universities, the most notable examples being those of New York University and of Harvard. In New York City the demand for the inception of courses of some kind at Columbia soon became so urgent that a modest beginning was made three or four years ago with a few evening courses. Owing to the high standards which were observed from the outset, these courses met with immediate success. They were conservatively increased from year to year, until during the past year the number of students and the character of the instructors became such as to justify the demand for their merger into a new and independent school, which should possess an identity of its own and which should become a regularly accredited part of the University.

There were several reasons which led the Department of Economics now to welcome the movement to which it had been lukewarm a decade or two before. In the first place, the number of men qualified to serve as instructors in the new schools had become so numerous as to make it reasonably certain that the faculty could be filled by men of the first rank. Secondly, the literature of the subject had become so abundant as to make it possible to put academic teaching in business on a par with that of the other occupations or professions. Thirdly, experience with various types of schools had become so rich as to permit of what seemed to be a sound conclusion. Finally, the University work under the Faculty of Political Science had become so thoroughly established that there was no danger to be anticipated in any diversion of energy to the new institution. It was felt, therefore, that we were now quite ready to develop the technical or professional, rather than the purely scientific, sides of instruction in Economics.

It was for these reasons that the Department of Economics as well as the entire Faculty of Political Science cordially welcomed the project for the new School and that the report of the special committee appointed to consider the subject met with the unanimous approval of the University Council and was speedily adopted by the Board of Trustees.

II

In determining upon the character of the School, the committee considered with some care the different types in existence. There are in the United States at present three chief types: (1) the Wharton School, which has a curriculum of four years parallel to that of the college and which is essentially an undergraduate school; (2) the Harvard School of Business Administration, which has a two- years’ curriculum of a frankly graduate character; and (3) the Amos Tuck School at Dartmouth, which admits students at the end of the junior year and carries them through a two-years course. No one of these types approved itself to the committee.

The Wharton School plan seemed to be open to criticism from several points of view. As a purely undergraduate school it necessarily becomes a rival to the college and to the extent that it succeeds, it is likely to weaken the college. In the second place, it begins professional or technical work at too early a period, whereas the whole tendency of recent development in the United States is to relegate the professional or technical education to a somewhat later stage. The change that has been going on during the last few years in the Engineering Schools and other Schools of Applied Science affords ample evidence of this tendency. What is needed in this country is a broad foundation for the technical or professional class, and the School of Business needs as broad a foundation as we are coming to demand for other professional schools. Thirdly, a purely undergraduate school of business excludes the possibility of any pronounced extension of the graduate or research courses, which are coming to be as important in applied economics as they are in pure economics. A four-years’ undergraduate curriculum in business courses virtually exhausts the subject and leaves practically nothing for the research student. It was largely for these reasons that the Wharton School type was discarded as a model.

On the other hand the Harvard type seemed to be open to criticism for opposite reasons. In the first place, the requirement of a college degree for entrance renders such a school impotent to serve the public which is clamoring for admission in large centers like New York. Comparatively few men who intend to go into business can afford, whether from the material or from any other point of view, to wait until they are twenty-four or twenty-five years of age before entering upon a practical business career. And it is questionable whether even a few captains of industry will be recruited from this class. A purely graduate school which can never expect more than a handful of students is thus abandoning its opportunity to serve the public in the largest measure. In the second place, not only must such a school from the very nature of the case be numerically insignificant, but it seems to be based upon an erroneous pedagogical principle. It is now rather widely recognized that the movement inaugurated by President Eliot a generation ago went too far for the best interests of American education. In attempting to convert the American college into a university, he ignored the fact that the principles of academic freedom—freedom of the student as well as freedom of the teacher—are applicable in full measure only to a real university doing advanced or research work. Moreover, although by pulling up, as he thought, the American college, to a higher or university level, he advanced the age of graduation to about twenty-two, he at the same time made the attainment of the college degree a prerequisite to professional or research work. The college thus came to occupy the contradictory position of a university and of something less than a university. The consequences soon disclosed themselves. As soon as the demands of the public for a better medical and legal preparation became imperious, the complications began; for the medical school course was gradually lengthened to five years, and the law school course to three years, with a possibility of soon becoming four years. To make, as was now done, entrance to the professional schools conditional upon a college degree therefore meant that the young lawyer could not begin his life’s work before the age of twenty-five or twenty-six and the young doctor before the age of twenty-seven or twenty-eight.

This is an intolerable situation, which exists nowhere else in the civilized world and which it is out of the question to think will permanently continue in the United States. The first step away from this difficulty was taken by Columbia some twenty years ago when it introduced the so-called combined course into the professional schools, permitting the saving of at least one year. This combined-course idea rapidly spread throughout the country and is now adopted by most of the leading universities, barring a few conservative institutions in the East. A slight modification of this system was later introduced at Columbia in the Schools of Engineering, Mining, and Chemistry, which were put upon a basis of advanced standing requiring three years of college work for entrance, thus making possible a combined course of six years from entrance into the college up to the acquirement of the professional degree. Even this, however, was gradually found to be inadequate; and before long not only the School of Medicine but the School of Architecture, and the School of Journalism opened professional courses to students who had completed two years of college work.

By many it was recognized that here is the proper dividing line between the ordinary cultural and preparatory courses on the one hand, and the technical or professional courses on the other. To those who hold to this opinion, it seems entirely probable that sooner or later the combined or Columbia plan, which has now spread throughout the country, will be replaced by the newer or still more distinctive Columbia plan, which is in harmony not only with the educational practice of the rest of the world, but with sound educational theory. The Harvard School of Business Administration, therefore, appeared to the committee to embody the same erroneous principle which had been applied to the law and medical schools. The country has broken away from the Harvard plan in legal and medical education. It seems unlikely that it will follow Harvard in the new form of business education. At all events, the system seemed to be quite inapplicable to conditions at Columbia.

The third type of business school is represented by the Amos Tuck School, which does, indeed, accept the principle of a dividing line below the close of the college curriculum. The Amos Tuck School, however, has turned out to be distinctly restricted in scope and attracts few students outside of Dartmouth itself. What it does is to provide an alternate year for Dartmouth seniors, with an opportunity of proceeding for an additional year. It does not succeed in drawing from other colleges students who have completed three years of college work. Moreover, it suffers from the same defect as the Harvard School in that it offers an inadequate curriculum of only two years in length.

Since therefore none of the existing types seemed to be either suitable to Columbia conditions or in harmony with sound pedagogical principles, it was decided to put the dividing line between college and professional work at the end of the second year, largely for the reasons mentioned above. Students will therefore be admitted to the Columbia School who have completed two years of college work or its equivalent, and the School of Business will be put on the same basis as the Medical School, the School of Architecture, and the School of Journalism. This arrangement makes possible the attainment of several results. In the first place, every student who enters the Business School as a candidate for a degree will be sure of having pursued those general cultural and disciplinary college courses which are considered obligatory upon every cultivated man in Europe as in America. In the second place, on this broad basis there will be erected a carefully devised professional or technical curriculum after the completion of which the graduate can enter upon his business career at the age of twenty-two or twenty-three,—about the ordinary age abroad. In the third place, the three-year course, which is midway between the exaggerated four-year Wharton course and the inadequate two-year Harvard and Amos Tuck courses, will permit a comprehensive and well-rounded sequence of studies. The type of school finally adopted thus seems to combine a maximum of advantages with a minimum of defects. It will moreover enable the School to serve much more varied classes of students than can be found in any other type.

Among these classes are, first, students who have spent two years in Columbia College or in some other college of equivalent rank and who are candidates for a degree. It is expected that not a few college students, both at Columbia and elsewhere, who have decided by the end of the second year to pursue a distinctively business career, will enter the new School and thus secure a better preparation for their life work than if they were to continue in a more or less desultory fashion through the remainder of their college career.

In the second place, the School will afford abundant opportunity in its upper reaches for graduate students who desire to prepare themselves for the teaching profession or who are inclined to devote time to purely research courses. Such students will be able to combine a more technical or professional course in the School of Business with graduate courses given in the School of Political Science, and there will therefore be offered for the first time in the United States a unique combination of pure and of applied science, or of theoretical and of practical economics, which will doubtless turn out to be fruitful of results.

In the third place, the School will afford an opportunity to graduates of high schools, who for some reason do not desire to go to college, to take courses in the Department of Extension Teaching at Columbia, in either day or evening courses, and to complete work equivalent to that offered by Columbia College in its first two years.

In the fourth place, there are in New York City many men and some women actively engaged in business who are eager to learn more about the real foundation of their business life. Students of this character, if over twenty-one years of age, who have shown their qualifications to undertake certain courses may be admitted as special students in particular subjects, but will, of course, not be candidates for a degree.

It is therefore believed that the type of school finally adopted is the one which will minister most successfully to the needs of the New York public, and which will, at the same time, provide on the broadest possible basis a curriculum which will attract students from all parts of the country.

III

Before we proceed to discuss the curriculum a word must be said about the name of the new institution. Most of the existing institutions are called Schools of Commerce or of Commercial Science. Such an appellation seemed, however, unsatisfactory. For in the first place what is taught in such a school is not primarily science at all, but art; or even if the purely scientific problems may be taken up in the later years of the School, the earlier years must naturally devote themselves primarily to the practical applications. But, more important than this, the term commerce seems to be ill-chosen. There are many problems of business management which have only a slight relation to commerce as such; and the Supreme Court of the United States has told us in a leading decision that insurance is not commerce at all. As in every School of this kind the problems connected with insurance must occupy a prominent place, it seems objectionable to apply a generic name in connection with a particular division to which the generic name is, as we are instructed, wholly inapplicable. On the other hand, some schools call themselves Schools of Business Administration. This title, however, is equally open to criticism. If we object to the term commercial science on the ground that a great part of the work is not science at all, we can equally object to the term business administration on the ground that a great part of the work far transcends purely administrative problems. What such a School has to deal with is the principles underlying business practice, as well as the best method of putting those principles into operation. It is partly science and partly administration; it is more than science and more than administration. Since, therefore, the real object of such a School is to deal with business problems in their varied and comprehensive aspects, it seemed wise to take the simple and obvious name of School of Business. In the Law School we study law; in the Medical School we study medicine; in the School of Architecture we study architecture; in the School of Engineering we study engineering; and consequently the obvious place in which to study business is the School of Business. The name is simple, inclusive, and comprehensive.

When we come to discuss the curriculum of the new School, several points are to be noted. In the first place, an attempt is made to steer between the rigid and fixed curriculum found in some of the American professional schools and the very elastic schemes that are found in the ordinary university courses here and abroad. It was attempted to strike a happy medium by requiring in the first year from all candidates for a degree a certain number of courses aggregating one-half or two-thirds of the whole. Every student who intends to go into business should know something about general economics, accounting, finance and business organization, and should also have a command of some of the foreign languages. When, however, the foundation has been laid in this way, students are allowed a free choice, subject to the condition, however, that their course be approved by the Director. The Director of the School is presumed to have a personal acquaintance with each of the students, and to be able in person or through delegation to give to each proper advice. Students who desire to have a general business course will find such a curriculum mapped out for them. Others who may prefer to specialize will find a sequence of courses in a variety of subjects: accounting, banking, finance, transportation, commerce and trade, business organization and management, manufactures, advertising and salesmanship, and the like. At the end of the second year, the degree of Bachelor of Science will be awarded so that those who do not care to defer their entrance into a practical business career may start in at the age of the ordinary college graduate. It is expected, however, that a large proportion of the students will continue for a third year, at the end of which the Master’s degree will be conferred.

This third year, it is hoped, will be the most valuable, as it will be the most unique, year in the School. It will correspond approximately to the clinical year which is now being added to our best medical schools. It goes without saying that in the City of New York, the centre of American wealth, the business problems are on a particularly gigantic scale and of a specially intricate character. It is proposed to make the courses in this third year not alone research courses in the more refined and difficult principles underlying business practice, but also practical courses where each student will have an opportunity of intimate personal contact with business life. Arrangements have already been made with the National City Bank whereby a certain number of students will be afforded an opportunity to prepare themselves for the service of the Bank in foreign fields. It is proposed to broaden and generalize these opportunities so that ultimately every student will be enabled and expected to do some field work in that particular department of business life in which he is especially interested. In almost every phase of “big business” in New York today the need is experienced for more expert and thorough training; and it is hoped in the advanced courses of the School to bring about a close cooperation between the corps of instructors on the one hand and the business community on the other. It is here that the School of Business will find an unexampled opportunity and perform an unexampled service. Just as the finest medical schools can exist only where there are the greatest hospitals, that is, in the large centres of population, so the most successful schools of business in the future may be expected to be found in the great centres of business life.

In order to accomplish these results and to realize the expectations which have been formed, it goes without saying that the new School of Business must be put on the highest possible standard of educational efficiency. So far as the students are concerned, this result has been guaranteed by the determination to make the scholastic standard as high as it is in the other departments of Columbia. We are fortunate in having in Dr. Egbert, as Director of the School, a man who is not only one of the great administrators in the country, but who has shown in both the Summer Session and the Extension work his adherence to these high standards. The continually growing reputation of those phases of the work to which Dr. Egbert has hitherto addressed himself are the surest guarantee of success in this new field.

High standards, however, depend not only upon the student body, but upon the corps of instructors. In order to avoid the difficulty which has unfortunately been experienced by so many American institutions, it is proposed that a professor must have one at least of two qualifications. If he is recruited from the academic ranks, he must possess the degree of Ph.D., to show that he has attained the highest academic honors, together with a reasonable business experience or an acquaintance with actual business problems. If, on the other hand, he is selected from the ranks of those who have devoted themselves primarily to business, he must not only have written a book which is an acknowledged authority in its field, but must give evidence of ability successfully to present the subject to the professional student. Although the corps of instructors is by no means entirely complete, it will be found that the selection has in every case been in accordance with the above considerations. The numerous additions to the teaching staff which are being planned for in the near future are confidently expected to conform to the same high principles.

Thus from every point of view, we feel that the problem has been carefully considered and solved with a reasonable hope of success. In the character of the student body, in the selection of the present and future teaching force, in the rounded sequence of courses, in the judicious union of practical and research work, in the rich possibilities of cooperation with the other departments of the University and the business life of the community, and last but not least, in the tried administrative experience of the Director, we have reason to believe that we possess a unique combination of factors which cannot fail to put the Columbia School of Business in the front rank of similar institutions here and abroad.

 

Source: Columbia University Quarterly, Volume XVIII, June 1916, pp. 241-252.

Image Source: From  American Economic Review, 1943.

Categories
Columbia Economists Exam Questions Pennsylvania

Columbia. Economics Ph.D. alumnus, 1905. Enoch M. Banks, Academic Freedom Poster Child, 1911

 

During a random check of my John Bates Clark files, I came across a final examination for a course “Economics 161” with the handwritten note:  “E. M. Banks, Penn”. I figured this was a sign from Clio that I should check for that course at the University of Pennsylvania and find anything more about E. M. Banks. The first issue was resolved quickly upon consulting a copy of the University of Pennsylvania catalogue for 1905-06 where it was easy to verify that the introductory economics course was indeed taught by Enoch Marvin Banks, Ph.D. and that the textbook for the course was Henry Rogers Seager’s Introduction to Economics (New York: Henry Holt, 1904). The second term examination for the course has been transcribed and posted below.

Once I found the unique name of Enoch Marvin Banks, it was easy to find a copy of his Columbia Ph.D. thesis at archive.org, The Economics of Land Tenure in Georgia [Ph.D. thesis in the Faculty of Political Science, Columbia University, published as in Studies in History, Economics and Public Law. Vol. XXIII, No. 1, 1905]. This once-in-a-universe name also made it simple for a Google search to lead me to his papers at Emory University where a short biography was to be found and a link to his obituary in the national publication of his Alpha Tau Omega fraternity (both provided below). It was then that I discovered that this Columbia Ph.D. economics alumnus deserves a star on a memorial wall for academic freedom in the United States. 

Given the competing political interpretations of having statues/memorials for Confederate leaders and generals in the United States today, I thought it appropriate to provide Banks’ article “A Semi-Centennial View of Secession” with its “shocking” thesis: “Viewing the great civil conflict…in the light of these principles and in the light of a broad historical philosophy, we are led irresistibly to the conclusion that the North was relatively in the right, while the South was relatively in the wrong. ” 

For much more about the reception and reactionary blowback to Banks’ article, see  Fred Arthur Bailey Free speech at the University of Florida: The Enoch Marvin Banks Case. The Florida Historical Quarterly, Vol. 71, No. 1 (Jul., 1992), pp. 1-17.

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Enoch M. Banks , Obituary
The Alpha Tau Omega Palm
March 1912

Enoch Marvin Banks, well known throughout the South as a writer on economics and history, died last night at the home of L. P. Bradley, after an illness of several months, and was buried today in Newnan. He was unmarried, and is survived by his mother and several brothers and sisters.

Professor Banks was born November 28, 1877, and would have been 34 years of age next week. He was a student at Emory College, Oxford, Ga., receiving his A. B. degree in 1897, and A. M. in 1900; studied at Columbia University for several years and was a graduate student of Economics, Sociology and History; acting professor of History and Economics at Emory College, 1902-03; fellow in Economics at Columbia University, 1904-05; received degree of Doctor of Philosophy at Columbia University, June, 1905; instructor in Economics. University of Pennsylvania, 1905-06; studied in Germany, 1906-07; professor of History and Economics, University of Florida, 1907-11. He was made a member of American Economic Association in 1902; a member of the American

Academy of Political and Social Science, 1906, and a member of Academy of Political Science, New York, 1910.

Among his most important published writings were the following: “The Passing of the Old South,” “The Labor Supply and the Labor Problems in the South,” “A Semi-Centennial View of Secession,” “A Plea for Educational Freedom and a Liberated Intellectual Life,” “The New Point of View in the New South.” — Atlanta Constitution, November 24, 1911.

 

Source:   The Alpha Tau Omega Palm Vol. 32, No. 1 (March, 1912), p. 144.

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Biographical note from Enoch Marvin Banks Papers at Emory University

“Enoch Marvin Banks (1877-1911), an Emory graduate and Professor of Southern Economics and History, was born in Newnan, Georgia. After briefly teaching at Emory and receiving his PhD from Columbia University, Banks began a professional career that included professorships at the University of Pennsylvania (1903-1906) and the University of Florida (1907-1911). Among his most important published works on the South’s economy was is “A Semi-Centennial View of Secession,” published in The Independent in February 1911 [pp. 299-303]. The article, which claimed that the South should admit wrongdoing for its past efforts to secede from the Union caused many Confederate societies to quickly call for Banks’ resignation from the University of Florida. Banks ultimately complied, writing a letter of resignation to the University, who accepted despite fears that they would be accused of denying free speech. After his resignation, Banks returned to Newnan, where he died only months later.”

 

Source: Finding Aide to Enoch Marvin Banks Papers, 1903-1911. Emory University, Stuart A. Rose Manuscript, Archives, and Rare Book Library (Atlanta, GA).

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 From the University of Pennsylvania Catalogue, 1905-06

 

  • Enoch Marvin Banks, Ph.D., Instructor of Economics
  • Economics 161.—Introduction. Seager’s Economics, lectures and special reports.
  • Economics 161 (2 hours, both terms) [Instructors listed:]   Banks and Howard

Source: From the Catalogue of the University of Pennsylvania, 1905-06.

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[Handwritten note:] E. M. Banks, Penn.

EXAMINATION IN ECONOMICS—161.
Second Term 1905-06.

  1. (1) State four theories of wages. (2) What effect on wages has each of the following (a) Increase of population, (b) increase of capital, (c) improvements in the methods of production. (3) Explain the real meaning of “cheap labor.” (4) Have wages tended up or down in the last fifty years—explain the tendency.
  2. (1) What determines the general rate of interest? (2) In what ways, if any, is the general rate of interest affected by (a) an inflated state of the currency, (b) an inflation of the currency? (3) Is the general rate of interest tending up or down—explain.
  3. (1) Explain the nature and chief source of competitive profits. (2) Why are they temporary and permanent at the same time? (3) What effect in the long run do such profits have on wages and interest?
  4. (1) Explain the principle of monopoly prices as compared with that of competitive prices. (2) What methods do trusts often employ in ousting their competitors? (3) Do consumers get substantial benefits from the trusts? If not, why not, and how may they do so?
  5. On what grounds did Henry George advocate the single tax? Criticise those grounds.
  6. (1) Why must a country normally import as much goods (in value) as it exports? (2) Explain England’s excess of imports and our excess of exports. (3) Give the strongest economic argument for protection. (4) Discuss the effect of protection on wages.

 

Source: Columbia University Archives. John Bates Clark Papers, Box 9, Folder 1 (Administrative Records and Course Materials, undated). Series II.4.

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A Semi-Centennial View of Secession
BY ENOCH MARVIN BANKS, Ph.D.

[The semi-centennial of Abraham Lincoln’s accession to the Presidency is also that of secession. The author of the following article is Professor of History and Economics in the University of Florida. He was born in Georgia in 1877, was graduated from Emory College, and has always lived in the South, except for the few years when he was studying at Columbia University and the University of Pennsylvania. He has frequently contributed articles to the magazines and reviews on Southern topics. — Editor.]

FIFTY years ago Abraham Lincoln was elected to the Presidency of the United States and secession was precipitated in the State of South Carolina. Before the inauguration of Lincoln six other Southern States had followed the example of South Carolina in passing secession ordinances and had co-operated with that State in forming a confederacy, with its temporary seat of government at Montgomery. Lincoln, upon assuming the duties of President, pronounced as distinctly in favor of the integrity of the Union as the seceding States had pronounced in favor of its dissolution. Since the two governments were thus holding and acting upon contradictory theories of the situation, it was inevitable that a clash should soon occur unless one side or the other should modify or surrender its position. The clash did occur, as is so well known, at Fort Sumter, when, upon the refusal of the National Government to evacuate, the fort was bombarded and reduced by order of the Confederate Government, Lincoln immediately issued a call for 75,000 volunteers, four other Southern States, rather than aid in a policy of coercion, joined the Confederacy, and thus was inaugurated the great and tragic civil struggle in American history.

Since the South was the prime mover in those stirring events, it seems a fitting thing for a Southerner who belongs to an entirely new generation and who has abounding faith in his section’s future as well as in his country’s destiny to write a short semi-centennial view of that movement, in the hope of being able to estimate in the calm light of history the wisdom of secession and the meaning of the great conflict which its trial precipitated. In a certain sense, to be sure, the wisdom of secession was tested and found wanting in the war itself; but there are those who urge that superiority of resources and numbers may triumph for a season over what is right and best in principle. Again, the writer is, of course, aware that historians from other sections of the country and from other parts of the world have passed judgment upon the Southern movement of the sixties, and their judgment has been on the whole unfavorable to its wisdom and righteousness. On the other hand, the people of the South have very naturally been inclined to repudiate such interpretations as arising from sectional prejudice or foreign ignorance, and while acquiescing in the results of the war, they instinctively feel that their fathers and grandfathers were willing to make the tremendous sacrifices that were actually made only in behalf of a righteous and altogether splendid cause.

To be sure, it is not the purpose of this paper to effect a direct alteration of this Southern conviction, since such pervasive popular convictions do not usually undergo great modification at the instance of a slight magazine article. Nevertheless, such an article may serve the purpose of showing that conditions are changing, and that the South is becoming more tolerant of a free discussion of its past and present policies. It is well known that this section is undergoing a remarkable expansion of industry and commerce and is greatly enlarging its educational facilities, and is thus paving the way for a liberated intellectual life. This new spirit of liberality toward opposing views when exprest with sincerity and befitting decorum is perhaps the greatest incipient triumph of the twentieth century South. Such a spirit is doing much toward making the section an integral part of the nation, and it will do more as the years go by toward making it, in hearty union and co-operation with other parts of a great nation, an important factor in the advancement of world civilization. A free estimate of our past and a frank realization and acknowledgment of its errors, where errors are found, will place us in position to assume the responsible duties that lie in the immediate and more distant future. In such a spirit of intellectual integrity and freedom this article is written.

Large movements in history usually involve some important principle of government, or liberty, or economics, or religion, or what not, and the triumph or defeat of the principle or principles, for there may be more than one, gives meaning to the movement. These larger aspects of a struggle are, of course, not always distinctly envisaged by those who take part in the struggle, since such participants are oftentimes impelled by more immediate interests and passions, and it is only with the passing of years that the real significance of the movement in relation to human progress is generally seen, tho, to be sure, there are usually some leaders who are gifted with a larger vision and foresee more or less distinctly the meaning of the movement they are directing.

It requires no very acute powers of analysis to see — and indeed it is generally recognized by students of American history — that two large principles were involved in secession and the Civil War. One was a question of political science and concerned the nature of our union. The war itself was prosecuted with avowed reference to this principle, the South taking one attitude toward it and the North taking the opposite attitude. The other question was antecedent to this, in that it operated to cause the two sections to take divergent attitudes on the question of the nature of our union — or, to speak more specifically, it caused the South to attach continued importance to the idea of State sovereignty, it caused eleven States of the South to attempt secession, as the State sovereignty theory declared they had a right to do, and it thus caused the Civil War itself. That fundamental cause of secession and the Civil War, acting as it did thru a long series of years, was the institution of negro slavery. These two questions, therefore — that of State sovereignty primarily and directly, and that of negro slavery secondarily and indirectly — were the supreme questions involved in the American Civil War. Was the attitude of the South in relation to these two questions right — in the highest and best sense of the term right?

The ablest defense of the South’s position on State sovereignty is perhaps to be found in Alexander H. Stephens’s “Constitutional View of the War Between the States.” Moreover, Stephens’s attitude on the eve of secession demonstrated a breadth of statesmanship on his part that was only too rare in that emergency. He made a clear distinction between secession as an inherent constitutional right and secession as a policy to be put into operation in 1860, defending with considerable acumen, along lines marked out by Calhoun, the right of a State to secede under the Constitution of 1789, but combating the notion that the existing evils in the Union at that time justified a resort to so drastic a remedy. In his great union speech delivered before the Legislature of Georgia just after the election of Lincoln, he deliberately declared and urged that the South was not suffering in the Union, and that the section was not likely to suffer under the administration of Lincoln. Moreover, he calmly told his fellow countrymen that in case they withdrew from the Union without greater provocation than then existed, the verdict of history would be made up against them. Every careful student of our history can appreciate the wisdom, the statesmanship and the patriotism of this speech, as well as the courage and correctness of Stephens’s attitude in opposing secession a little later in the Georgia convention. I venture to think that if the lower South had possessed a few more leaders of Stephens’s ability and influence, secession would not have been precipitated by the election of Lincoln, except possibly in the case of one State. Indeed, such States as Virginia and North Carolina, altho believing in the right of secession, had the wisdom to defeat the secessionist movement until after the outbreak of hostilities, when they were called upon to aid in ”coercing” their sister Southern States.

It is beyond the scope of this article to discuss in detail the circumstances and grievances which convinced the people of the South, contrary to the better judgment of Stephens and some others, that they could no longer remain with honor and safety in the Union. It is sufficient to say that the two sections had divergent economic systems, and that the institution of slavery, which was the South’s peculiar economic heritage, was the prime factor in begetting grievances, There arose a disposition on the part of the North, which in some instances took an aggressive form, to discredit the institution of slavery on moral and religious as well as economic grounds. The severe criticisms of the institution that were thus made, particularly after 1830, naturally aroused a feeling of resentment in the South against those who would interfere in a matter with which, from a Southern viewpoint, they had no direct concern. Since the people of the South were on the defensive with regard to slavery, and since they were Southerners also, they became peculiarly restive under the adverse criticism that was directed against their institution, and sensitive to a degree that prepared the soil for a rich harvest of supposed grievances.

Moreover, since slavery was legalized and regulated by the State governments and not by the National Government, and since any enlargement of the powers of the latter might operate, thru the increasing preponderance of Northern and Western influence in that Government, to interfere with the institution of slavery at the time of the admission of new States or otherwise, the South was led to attach exaggerated importance to the doctrine of State rights, and to revive a political science that was becoming obsolete. Since it was recognized North as well as South that the National Government could not directly molest slavery in the States where it already existed, the warmest debates in Congress concerned the powers of the National Government over slavery in the Western Territories, the debates over this question being particularly acrimonious from the time of the war with Mexico down to 1860. The momentous election of that year centered upon that issue.

The extreme Southern party, in harmony with the famous Dred Scott opinion, had advanced to the position that neither Congress nor the Territorial Legislature itself could debar slavery from a Territory, and that slavery could be abolished by the people of a Territory only after the Territory had passed into Statehood. This view declared slavery legal in all the national domain and declared Congress altogether impotent in the matter — in other words, only a State in our system of government could make and unmake slaves, and where States did not exist to exercise that function our public law would presume slavery to exist and assume the protection of such property. On the other hand, the extreme Northern attitude, as exprest in the Republican party, was the exact opposite of the ultra Southern position on the vital question of slavery in the Territories. The party of Lincoln held that Congress under the Constitution had complete powers of government in the Territories, and that it should exercise these powers in behalf of freedom. Lincoln upon several occasions very tersely exprest the difference between the sections on this question in this wise: “We of the North think slavery is wrong and should be restricted, while you of the South think slavery is right and should be extended,” having reference, of course, to the restriction and extension in the Territories. It is a great popular error on the part of the people of the South to suppose that it was in the program of the party of Lincoln to directly interfere with the institution of slavery in the States where it existed. The Republican party recognized and declared it had no right to do that, and Lincoln hesitated long before deciding that the exigencies of war warranted a resort to the emancipation proclamation,

Those opposed to the extension of slavery won in the election of 1860. The South interpreting this as the beginning of the decline of her dominance of the National Government, in a series of impetuous acts which the wisdom of Stephens and others could not restrain, repudiated that Government and inaugurated one of her own. Students of history can easily see the reasonableness and the correctness of the Republican attitude on the main issue in dispute in the election of 1860, and it is a matter of regret that the Southern leaders of that day were unable to see its wisdom in the light of a true philosophy of progress. However, in passing judgment upon their action we should recognize that we have the advantage of perspective and that they were in large measure the victims of circumstances not altogether of their own making. Moreover, the notion of an evolutionary order of things in morals, in governments and in all manner of social institutions is an idea that was by no means as familiar to them as it is to us of the twentieth century.

The institution of slavery was becoming an anachronism in the nineteenth century. Other nations, such as England and France, had entered upon policies of emancipation in the early decades of the century, and the Northern position on the subject was merely in harmony with the dictates of an advancing civilization. Southern leaders, under the influence of apparent pecuniary and social interests, failed to understand this tendency, and to enter upon the work of formulating plans for harmonizing its policies with the currents of world progress. Moreover, being nettled as they were by outside pressure and in many cases undue criticism, they more and more concentrated their efforts in support of an antiquated order of things in morals and economy, and finally waged a four years’ war with unsurpassed heroism and devotion in support of an equally antiquated order of things in government. Such in epitome is the tragedy of the South’s past, and the tragedy of her present is that she does not yet fully realize it!

So far our discussion has mainly concerned the wisdom of secession regarded as a matter of practical politics, with no particular reference to the question of its legal, validity under the Constitution of the United States. We have reached the conclusion that calm history will not justify, however much it may explain, the secessionist movement of the sixties — a conclusion which, as we have seen, accords in the main with the position of Stephens on the eve of the secession of Georgia. Stephens, however, ardently advocated the right of a State to secede under the Constitution of 1789, and we may infer that he regarded a union of States severally sovereign to be the best form of union. Most intelligent Southerners would now concede that for our country a confederacy with the recognized right of secession is not the best form of union. On the other hand, they would entirely agree with Stephens and with the great body of his fellow Southerners of the sixties in claiming that the right of secession was then inherent in the nature of our Union. If indeed the right of secession existed, we may safely conclude that the counter right of resisting secession by force of arms did not exist — a conclusion which would place the North in the wrong in waging the war, even tho the South may have acted precipitately and unwisely, and therefore wrongly, in resorting to secession without greater provocation.

The dilemma just suggested may easily be avoided by placing the argument upon a plane distinctly higher than one concerned with the merely legal questions involved in conceiving our Union to be the static outcome of a contract between independent sovereign States. Indeed, we may well admit that our Union was generally regarded at the time of its formation and for some decades thereafter as a union of sovereign States. At any rate, it was a union made possible at the time thru compromises — the greatest of which had reference to the relative importance of national and State authority. The Union thus established upon the basis of compromises was in reality a great victory for the integrating’ forces moving in modern times in the direction of nationalism. Moreover, it was to be expected that as the interests of the people of the several States became more and more interdependent and harmonious a spirit of nationalism would increasingly pervade the Union and assert its potency, unless some disintegrating influence should thwart its development. The normal integrating influences worked in the direction of national integrity in all parts of the Union except the South, where the institution of negro slavery operated as the main influence to counteract its development. When, however, the particularistic spirit attempted in 1861 to put into practice its principle of separatism In order to defend the South’s cherished institution, the spirit of nationalism in other sections of the country had grown strong enough to assert its validity.

It was as much the function of the statesmen of 1860 to interpret the nature of our Union in the light of what it ought to be as it was the duty of our fathers in 1787 to act in harmony with the demands of progress in their day. Right and wrong are neither absolute nor static conceptions, but on the contrary they are decidedly relative and dynamic descriptions of conduct — conduct being right or wrong according to the degree in which it tends to promote or retard human welfare. Those who consciously and sincerely align themselves with the forces working for the best interests of an advancing civilization are in the right in the highest and best sense of the term right, while those who align themselves with causes less beneficent in their fruitage are relatively in the wrong, tho their sincerity, devotion and otherwise elevated type of character may command a lasting measure of admiration.

Viewing the great civil conflict, the semi-centennial of whose inauguration this year marks, in the light of these principles and in the light of a broad historical philosophy, we are led irresistibly to the conclusion that the North was relatively in the right, while the South was relatively in the wrong. Lincoln for the North became the champion of the principle of national integrity and declared the time ripe for a vindication of its validity; Davis for the South became the champion of the principle of particularism as exprest in State sovereignty and declared the time ripe for its vindication. The one advocated a principle of political organization in harmony with the age in which he lived and in accord with the teachings of history; the other advocated a principle out of harmony with his age and discredited by the history of Europe during the past thousand years. The one was a statesman of the highest order, deserving to be ranked with such of his European contemporaries as Cavour and Bismarck ; the other was a statesman of a distinctly inferior order in comparison, since the cause which he championed with so much ability, heroism and devotion ran counter to the true course of political and social progress.

Gainesville, Florida.

 

Source:   The Independent , Vol. 70, No. 3245 (New York, February 9, 1911), pp. 299- 303.

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Editorial from The Independent: Free Speech Supprest

In The Independent of February 9 there appeared an article by Enoch M. Banks, of Southern birth and training, Professor of History and Economics in the University of Florida. His subject was “A Semi-Centennial View of Secession.” He defended the appearance of an article, whose conclusions were not in agreement with the views which led to the attempt at secession, by saying

“The South is becoming more tolerant of a free discussion if its past and present policies . . . and is paving the way for a liberated intellectual life. This new spirit of liberality toward opposing views when exprest with sincerity as befitting decorum is perhaps the greatest incipient triumph of the twentieth century South.”

In that article he recognized negro slavery as the occasion for the war and that its defense required adhesion to the doctrine of State sovereignty. As to both State sovereignty and slavery, he admitted that the attitude of the South was a mistaken one.

Was that a conclusion proper to be held by one who is a teacher in a Southern university? Beyond question, yes. It is proper that in a Southern or Northern university both views might be held. So far as one is wrong there will be other teachers to correct it. Were his conclusions such as could with prudence be publicly proclaimed by one holding such a position as teacher? Professor Banks thought so, and took the risk. But he has found that the risk has severed his connection with the University of Florida. He has been compelled to resign.

Professor Banks’s article in The Independent came under the notice of a man of some local fame — we believe he had once been a Presidential elector, and he was a fluent political orator — we forget his name; it is not a nomen praeclarum — but he wrote a letter to us denouncing the professor and his views. We did not think it worth printing and sent a courteous reply. That made him angry. He declared he would expose and denounce Professor Banks and The Independent in every journal in Florida and the South. He kept his word. He waved the tattered, but sacred, flag of the Confederacy, appealed to the pious sentiments of Sons and Daughters, and demanded the removal of the traitorous professor from the chair where he was teaching treason to the youth of Florida. And he did it. The journals published his fulminations. Florida was stirred with worked up passion. The professor’s resignation was demanded; there were threats that the legislature would withdraw or reduce its appropriation. Professor Banks saw that his presence was endangering the financial support of the university and he gave in his resignation to the president and it was accepted with regrets. Liberty of speech was denied. The victim was sacrificed.

And yet Professor Banks was not mistaken. The South is becoming more tolerant of free discussion.” There is “a new spirit of liberality toward opposing views.” But if somewhat existent it is not prevalent, as he has found to his disappointment. It will not do, at least in the Gulf States, for a man who would keep a position of public service to dare to say that slavery was wrong, that it was time Nationalism should supplant State Sovereignty, and that the war for secession was not the most glorious, altho unsuccessful, struggle of modern times. Not yet is it allowed for a man to express opinions of his own. He must shout with the mass or go.

It is a sad condition of things, but they are improving. The Atlanta Constitution actively defended Professor Banks’s liberty of speech. We trust he will find a place in some other Southern institution and not be compelled to seek a freer civilization. He is a loyal Southerner. He loves his section as it never occurs to a Northern man to love his section. Ostracised from Florida, he may be welcome in other Southern States; but we should have liked it if the thousands of Northern men who have settled in Florida had flooded the State journals with letters in defense of free speech, and had themselves illustrated it. The press should not be left wholly to the noisy and noisome orators and writers who would glorify, and would, if they could, restore, an old bad past. Professor Banks spoke truly and bravely; we need a multitude of others in the South who will speak their mind and support each other, and fight for freedom now, as fifty years ago their less wise ancestors fought for slavery. The day of victory is coming, and the chance and duty to speak and act for it is urgent. What said John Milton when he defended himself for fighting for a righteous but imperiled cause. He pictured to himself the Church triumphant over her foes, liberty of thought and speech achieved in Church and State, and how would he then feel if he had taken no part in the glad free victory? He would have ever after said to himself:

“Slothful and ever to be set light by, the Church has now overcome her late distresses after the unwearied labors of many of her true servants that stood up in her defense; thou also wouldst take upon thee to share amongst them of their joy: but wherefore thou? Where canst thou show any word or deed of thine which might have hastened her peace? Whatever thou dost now talk, or write, or look, is but the alms of other men’s prudence and zeal. Dare not now to say or do anything better than thy former sloth and infancy: or if thou darest, thou dost impudently to make a thrifty purchase of boldness to thyself out of the painful merits of other men; what before was thy sin is now thy duty, to be abject and worthless.”

Professor Banks dared to speak; will not many others speak, according to their ability, and hasten the liberty and the better day now sure to come to the South, and save themselves in the future glad day from the shameful memory of cowardly silence?

 

Source:   The Independent , Vol. 70, No. 3254 (New York, April 13, 1911), pp. 807-8.

_________________________

The Dismissal of Professor Banks
BY JAMES W. GARNER, Ph.D.

[We are especially glad to print this letter to The Independent from the Professor of Political Science of the University of Illinois. The author is not only one of the most distinguished economists of America, but he is as loyal a Southerner as Professor Banks, whose recent dismissal from the University of Florida is a disgrace to the university and the State. — Editor.]

As a Southerner, born and reared in the lower South, I want to endorse unqualifiedly the spirit of your recent editorial on the suppression of free speech in connection with the enforced resignation of Dr. E. M. Banks from the University of Florida. That a university professor with the high character and accomplishments of Dr. Banks should, in this enlightened age and country, be compelled by the pressure of local public opinion to resign his chair on account of his views on secession and State sovereignty seems almost incredible. What a miserable spectacle the case presents! What must be the judgment of the outside world concerning a condition of civilization in which such narrowness and intolerance exist? It is difficult to believe that any considerable proportion of the intelligent and fair-minded people of Florida really approve of such a wrong.

The man who claims the credit for driving Professor Banks from the university is the same person who recently, as a member of the Florida Legislature, threatened impeachment proceedings against Governor Gilchrist for recommending that Lincoln’s birthday be made a holiday in the State, and thus compelled him to withdraw the recommendation. He belongs to the class of small politicians with which parts of the South are still unhappily afflicted, whose chief stock in trade is their ability to exploit the negro question and the issue of white supremacy, which, as everybody but themselves knows, is no longer a real issue. Happily with each passing year the number of Southern politicians who live on dead issues and whose methods consist in appealing to the passions and prejudices of the past is growing smaller and the time is not distant when they will be without followers.

The people of Florida will no doubt be able to find men for their university professorships who believe or who profess to believe in the sovereignty of the States and who will be ready as occasion requires to defend the constitutional and moral right of secession, but it will be a sad day for the State when the announcement goes forth that no others will be tolerated. Dr. Banks is right and The Independent is right in saving that the South is becoming more tolerant of discussion, more liberal in its economic and political thinking and more national in its views of public policy, and Senator Beard and his kind can no more prevent advance along these lines than they can turn back the clock of ages or reverse the downward flow of the Mississippi. Such petty and shameful treatment as has been accorded Professor Banks will only hasten the movement.

Urbana, Ill.

 

Source: The Independent Vol. 70, No. 3256 (New York, April 27, 1911), p. 900.

_________________________

The Dismissal of Professor Banks
BY ANDREW SLEDD

[This discussion of the removal of Professor Banks from the University of Florida for an article he wrote in The Independent is written by the former president of the university, who was himself forced to resign for a somewhat similar cause. It will throw light upon the unfortunate conditions which limit educational freedom in the South. Mr. Sledd is now president of the Southern University at Greensboro, Ala. This whole case is attracting wide attention in the South and we suggest that the economists of the country take the matter up as they did in the case of Professor Ross. — Editor.]

I was president of the University of Florida for several years, and in 1907 asked Professor Banks, whom I had known personally and most favorably before that time, to take the chair of History in that institution. He accepted; and, as man, scholar and teacher, more than justified my highest expectations. His training was admirable; his personality delightful; his character of the highest; and he has both the gifts and the graces of an inspiring and finished teacher. I regarded the institution as peculiarly fortunate in having him upon its faculty; and this feeling grew steadily stronger with increasing knowledge of the man and his work.

In 1909, despite the unanimous and cordial support of the Board of Control of the institution, I was forced to resign the presidency. The charge against me was that the attendance upon the institution did not increase with sufficient rapidity under my administration. Upon my resignation, Professor Banks handed in his resignation, on the stated ground that he did not care longer to be connected with an institution where such, things were possible. The present president of the University and the chairman of the board, joined their persuasion with mine; and Professor Banks agreed to withdraw his resignation, and continued in his place.

In February of the current year Professor Banks sent me a copy of his article in The Independent; and I immediately foresaw the consequences. My own experience, as well as general observation, led me to know what he had to expect. And yet, as he says in a personal letter, which I take the liberty of quoting without waiting to ask his permission:

That article was written in all good faith and with an earnest desire to make some contribution toward promoting a liberated intellectual life here in the South. I am disposed to think that our political leaders, teachers, preachers, editors, and others in positions of more or less influence, made a serious and grievous mistake in the generation prior to the Civil War in not setting in motion influences that would have paved the way for the gradual removal of slavery from our country without the loss of so many lives, without the expenditure of so much treasure, without the bitterness of reconstruction, and without the subsequent pension burden! [Professor Banks might almost have had in mind Theodore Parker’s words, uttered four years before war broke out : “Had our educated men done their duty, we should not now be in the ghastly condition we bewail.”] Now, if I censure them in a sense for failing to measure up to the demands of the age in which they lived, can I excuse myself from making the attempt, to the extent of my ability and equipment, to set in motion influences in my limited sphere that would tend to liberate our minds and thus prepare the way for the solution of the present problems of our civilization and progress, problems indeed which are hardly less urgent and difficult than were those of our fathers prior to the sixties?

But this mental attitude is quite incomprehensible to some of our people, who follow the Saduceean motto, “Sever not thyself from the majority”; and so Professor Banks fell under their censure. When the censure became strident, and coupled with a demand for his removal, he tendered his resignation and it was accepted; and be becomes but another illustration of the proposition that “every step of progress that the world has made has been from scaffold to scaffold and from stake to stake.”

The authorities of the University were in a dilemma — a double dilemma, in fact. As the situation stands in Florida, the Board of Control is appointed by the Governor and is itself subject to the control of the State Board of Education, which is composed of five public officials elected by the people. The board of Control faced the dilemma of maintaining Professor Banks at the imminent risk of losing appropriations and patronage for the institution. Appropriations and large enrollments are very real things and furnish a common and conspicuous measure of institutional efficiency and progress. But freedom of speech and teaching is vague, a sort of academic myth concocted by impractical and visionary men and failures. If the Board of Control had said (which would have been true): “We can maintain this institution upon the Federal funds which it receives, independent of the state appropriation,” its decision would have been subject to review and possible reversal by the State Board of education. And then, in reaching its conclusions, the State Board of Education would have had to face the added possibility of a failure of re-election at the hands of the people. In other words. Professor Banks and freedom of teaching in the university had to be weighed against possible loss of appropriations and patronage, and political office for the members of the State Board of Education.

I do not know how the Board of Control would have stood, had it been in authority independent of the Board of Education. I believe that the Board of Control under which I served, of which the present junior Senator from Florida, Mr. Bryan, was chairman, would have accepted a recommendation from the president of the University to sustain Professor Banks. But I equally believe that, had they made such a decision, it would have been promptly reversed by the State Board of Education, under the influence of the three considerations which I have just mentioned.

Under the circumstances, it is not surprising that Professor Banks had to resign his place, he was the victim of two evils, neither of whih is confined to Florida or to the South. The one is direct political control and political interference in the affairs of the State University. This has resulted in many difficulties in many places in our country. The other is a wrong ideal of what constitutes a great institution. If size and wealth are taken as the standard, all other considerations must naturally give way to these. Not only is Professor Banks a victim of this standard, but probably no other one thing has done as much to degrade our educational institutions and impair their educational efficiency.

But Professor Banks has this great consolation, that his treatment and the public discussion of it forwards the cause for which he stands. The blood of the martyrs is the seed of the Church; and I doubt if Professor Banks by a year’s quiet work could have done as much as he has now done “to make his contribution toward promoting a liberated’ intellectual life here in the South.” He suffers; but because of his suffering his cause is nearer to its certain triumph. And in that knowledge Professor Banks will rest content.

And the University of Florida has suffered a humiliating defeat on a great moral issue.

Greensboro, Ala.

 

Source: The Independent Vol. 70, No. 3260 (New York, May 25, 1911), pp. 1113-4.

Image Source: Portrait of Enoch Marvin Banks, A.M., Ph.D.; Professor of History and Economics  from University of Florida, The Seminole, 1911, p. 15.

 

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Size distribution of graduate and undergraduate programs in economics. U.S., 1963-65

 

 

These are the last two statistical tables from the so-called “Cartel” summary report from December 1965 of leading economics departments in the U.S. intended to provide orientation for departmental chairpersons in salary negotiations. Today’s posting gives the numbers of undergraduate and graduate majors reported by 29 departments. 

Earlier postings gave the distribution for full-professors, the distribution for associate professors, and the distribution for assistant professors across departments. Two previous postings have the actual distributions for entering salaries for new Ph.D.’s for 1964-65 and 1965-66 and the anticipated range of salary offers for new Ph.D.’s for 1966-67. Those first five reports from The Cartel provide distributions of median or average incomes or ranges of salary offers by ranks across departments. Table 6c from the summary report that gives the salary distributions by rank for 335 professors, 143 associate professors and 185 assistant professors from all 27 departments.

Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.

____________________

 

TABLE 7c
Graduate majors in Economics – 29 institutions:

 

1963-64 1964-65 1965-66
(Estimate)
300 and over 2 2

1

200-299

0 0 2
150-199 3 4

5

100-149

6 5 6
80-99 4 4

3

60-79

5 7 5
40-59 6 4

4

20-39

2 1 0
1-19 1 1

1

Number of departments reporting:

29

28

27

Total number of students:

2,963

3,057

3,118

____________________

 

TABLE 8C
Undergraduate majors in Economics – 29 institutions

 

1963-64 1964-65
300 and over 4

4

250-299

1 1
200-249 3

2

150-199

4 6
100-149 8

5

80-99

1 1
60-79 2

1

40-59

2 3
20-39 1

1

1-19

1

1

Number of departments reporting:

27

25

Total number of students:

4,550

4,312

 

Source: Johns Hopkins University. The Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 5, Box 6, Folder 2 “Statistical Information”.

Image Source: quick meme website.

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Economics Professors’ Salaries by Rank (6), 1965-66

 

 

This is the sixth table from the so-called “Cartel” summary report from December 1965 of 9-10 month salaries paid in U.S. economics departments. In the previous five tables The Cartel reports median or average incomes or ranges of salary offers by ranks across departments. In this posting we have Table 6c from the summary report that gives the salary distributions by rank for 335 professors, 143 associate professors and 185 assistant professors from all 27 departments.

Earlier postings gave the distribution for full-professors, the distribution for associate professors, and the distribution for assistant professors across departments. Two previous postings have the actual distributions for entering salaries for new Ph.D.’s for 1964-65 and 1965-66 and the anticipated range of salary offers for new Ph.D.’s for 1966-67.

Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.

Using the BLS web CPI Inflation calculator, one can inflate nominal levels (say for December 1965, the date of the report) to April 2017 using a factor of 7.69.

 

____________________

TABLE 6c

Salaries of Economists (9-10 month, academic year, 1965-66) in 27 of the 29 Departments of Economics (The Cartel):
N = Number of Persons

MID POINT OF RANGE PROFESSORS ASSOCIATE PROFESSORS ASSISTANT PROFESSORS
26,750/and over 2
26,500 0
26,000 2
25,500 1
25,000 8
24,500 0
24,000 4
23,500 2
23,000 7
22,500 2
22,000 12
21,500 7
21,000 10
20,500 5
2,0000 22
19,500 10
19,000 13
18,500 11
18,000 24
17,500 8
17,000 19
16,500 23
16,000 27
15,500 20 1 0
15,000 21 2 1
14,500 14 2 0
14,000 22 10 0
13,500 10 12 0
13,000 10 13 1
12,500 7 18 2
12,000 6 20 1
11,500 3 21 7
11,000 3 13 9
10,500 0 18 18
10,000 0 9 35
9,750 1 9
9,500 2 28
9,250 1 11
9,000 0 24
8,750 0 8
8,500 0 13
8,250 2
8,000 15
7,750 1
N=335 N=143 N=185

 

Source: Johns Hopkins University. The Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 5, Box 6, Folder 2 “Statistical Information”.

Image Source:  “Me and my partner” by C. J. Taylor on cover of Punch, December 25, 1889. Library of Congress Prints and Photographs Division Washington, D.C.

 

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Expected New PhD Starting Salaries in U.S. Economics Departments (5), 1966/67

 

 

This is the fifth table from the so-called “Cartel” summary report from December 1965 of 9-10 month salaries paid in U.S. economics departments. Table 5c give figures for the anticipated range of salaries for “freshly completed PhD’s” for the coming academic year (1966-67) across the departments reporting. Earlier postings gave the distribution for full-professors, the distribution for associate professors, and the distribution for assistant professors. The previous posting has the actual distributions for entering salaries for new Ph.D.’s for 1964-65 and 1965-66. Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.

The copy of this table in the Johns Hopkins University archives has a useful handwritten addition. It is noted that the median lower bound of the range is $9,250 and the median higher bound of the range is $10,000. Thus one might say a measure of the range of the anticipated, as of December 1965), 9-10 month salary offers for “freshly completed PhDs” for 1966-67 was ($9,250 — $10,000), though such a range was not necessarily anticipated by any one of the 27 departments responding to that question.

Compared to Table 4c, this table tells us that the range of offers for “freshly completed PhDs” was anticipated to move up $250 about a 2.67% nominal increase from 1965-66 to 1966-67.

Using the BLS web CPI Inflation calculator, one can inflate nominal levels (say for December 1965, the date of the report) to April 2017 using a factor of 7.69.

 

____________________

TABLE 5c
Departments Expect to Have to Offer to Get
“Freshly Completed PhD’s for Next Year, 1966-67

 

MID-POINT OF RANGE

FROM TO
13,000 0

0

12,500

0 0
12,000 0

1

11,500

0 0
11,000 0

6

10,500

0 7
10,000 5

6

9,750

0 0
9,500 8

4

9,250

1 0
9,000 8

2

8,750

1 0
8,500 1

1

8,250

0 0
8,000 3

0

N=

27

27

 

Source: Johns Hopkins University. The Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 5, Box 6, Folder 2 “Statistical Information”.

Image Source:  Caption under the drawing: “No class of labor feels the grip of grinding monopoly more than our underpaid, overworked ball-players.”  “The base-ball Laocoon” by L. M. Glackens. Cover of Punch, May 14, 1913. Library of Congress Prints and Photographs Division Washington, D.C.

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New PhD Starting Salaries in U.S. Economics Departments (4), 1964/5-1965/66

 

 

This is the fourth table from the so-called “Cartel” summary report from December 1965 of 9-10 month salaries paid in U.S. economics departments. Table 4c give figures for the distribution of salaries for “freshly completed PhD’s” across the departments reporting. Previous postings gave the distribution for full-professors, the distribution for associate professors, and the distribution for assistant professors. The next posting has the anticipated (as of December 1965) range of salaries to hire freshly completed PhD’s for the coming academic year, 1966-67. Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.

Using the BLS web CPI Inflation calculator, one can inflate nominal levels (say for December 1965, the date of the report) to April 2017 using a factor of 7.69.

______________________

TABLE 4c
Entering Salaries of “Freshly Completed PhD’s” of New Staff Members
in the Fall of 1965-66 1964-65

 

MINIMUM MEDIAN MAXIMUM
MID-POINT OF RANGE 1965-66 1964-65 1965-66 1964-65 1965-66

1964-65

Over 10,999

0 0 0 0 1 0
10,500 0 0 0 0 2

1

10,000

2 0 4 3 7 0
9,750 2 0 4 0 1

0

9,500

4 1 2 0 2 4
9,250 1 2 3 3 1

3

9,000

3 6 0 5 3 6
8,750 1 1 3 5 0

1

8,500

4 5 3 5 2 5
8,250 1 1 0 2 0

1

8,000

2 3 1 0 1 0
7,750 0 0 0 0 0

1

7,500

0 1 1 2 0 1
7,250 1 1 0 0 0

0

N=

21 21 21 25 20 23
Median $9,000 $8,500 $9,250 $8,750 $9,750

$9,000

Mean

$8,952 $8,583 $9,190 $8,820 $9,600

$8,913

 

Source: Johns Hopkins University. The Ferdinand Hamburger, Jr. Archives. Department of Political Economy, Series 5, Box 6, Folder 2 “Statistical Information”.