Category: Syllabus

M.I.T. Readings and exam questions for fiscal and monetary policy. Domar, 1957

Post author By Irwin Collier
Post date 2020-01-24

Evsey Domar’s first semester at M.I.T. was as a visiting professor according to the teaching records of the economics department. He taught one seminar on Russian Economics (14.292) and a graduate course with the nominal title “Fiscal Policy”. That course had been taught previously by E. Cary Brown (Spring 1954, 1955) and R. A. Musgrave, visiting Professor (Spring 1956).

Inspection of the ten-page course bibliography and the final examination questions along with two note-cards filed with these course materials, it appears that well over half the course was in all likelihood dedicated to fiscal policy topics with monetary policy for stabilization topics accouting for perhaps one-third of the course. Just as the length of the course bibliography (typical for Domar) is daunting, his use of asterisks to designate recommended reading was exceedingly liberal. An examination of the final examination questions leads me to conclude that it should be rather easy to reduce the course reading list (for examination purposes!) to less than two pages.

___________________________

Course Enrollment
(Second term, 1956-57

Instructor	Domar, E. D.
Rank	Prof. (Visit.)
Subj. No.	14.472
Subj. Title	Fiscal Policy
No. Class Hours/Week	3
No. Students	22

Source: M.I.T. Archives, Department of Economics Records 1947-, Box 3, Folder “Teaching Responsibility”.

___________________________

Typed notecards for an introduction to or a review of course.

The traditional arguments regarding the purposes of Monetary Policy:

Stabilization of general prices or of factor earnings—the Wicksell-Davidson controversy. The instrument was the relation between the natural and the market rates.
Stabilization of prices or of employment. Recent literature is full of this.
Stabilization of the general prices or of prices of Federal securities. See Douglas’s and other reports on this recent controversy.
Stabilization of employment or the achievement of growth. Any conflict?
Discretionary methods or automatic provisions? See Simons’ article in Readings in Monetary Theory.
To provide credit and currency, sound and in sufficient quantity.
To protect the international position of the country.
To have special effects, such as:

a. by region
b. by industry
c. by commodity consumed (such as tobacco) or housing
d. on population (by giving exemptions or subsidies for dependents)

Provide revenue [handwritten addition]
Distribution of income [handwritten addition]

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

The following limitations, some real, other imaginary, explain why Fiscal Policy is not as simple as Lerner makes it:

Income distribution
Size of the deficit
Size of the budget
Balance of payments
Special regional and industrial effects
Effects on incentives to work (in inflation)
Automaticity of the system (built-in-flexibility)
Monetary effects (on reserves, deposits)
Long-run effects (on growth and development)

Their presence complicates things and explains all the ingenious articles and tax devices frequently suggested. If not for them, fiscal policy would be very simple indeed: cut taxes or increase taxes, and the same with expenditures.

___________________________

READING LIST
14.472 Fiscal Policy
Spring Term 1956-57

Professor E. D. Domar

PART I—MONETARY POLICY

The purpose of this list is to suggest to the student the sources in which the more important topics in Monetary Policy are discussed from many points of view. His objective should be the understanding of these topics and not the memorization of who said what.

Most of the sources listed here, and particularly the Congressional materials, discuss a number of questions not only in Monetary but in Fiscal Policy as well. Hence it is difficult to classify them.

Items marked with an * are strongly recommended. (I don’t like to use the expression “required” in a graduate reading list.)

Factual Materials on Monetary Problems

Federal Reserve Bulletin.

Treasury Bulletin.

Annual Reports of the Secretary of the Treasury and of the Board of Governors of the Federal Reserve System.

Historical Statistics of the United States, 1789-1945, and the Continuation to 1952.

Congressional Hearings, Reports and other Materials listed below.

Introduction

Hart, Albert Gailord, Money, Debt and Economic Activity, New York 1948.

Hicks*, J. R., “A Suggestion for Simplifying the Theory of Money,” Economica, 1935; reprinted in Readings in Monetary Theory.

Lerner*; Abba P., “Functional Finance and the Federal Debt,” Social Research, 1943, and Readings in Fiscal Policy, p. 468, also Chapter 24 in his Economics of Control, New York, 1944.

Poole, Kenyon E., ed. Fiscal Policies and the American Economy.

Sproul* Allan, “Changing Concepts of Central Banking,” Money, Trade and Economic Growth in Honor of John Henry Williams, New York, 1951.

Monetary Theory and Growth

Gurley*, John G. and Shaw, E. S., “Financial Aspects of Economic Development,” American Economic Review, September 1955, pp. 515-538.

Effectiveness of the Interest Rate

Ebersole*, J. F., “The Influence of Interest Rates,” Harvard Business Review, XVII, i, 1938, pp. 35-39.

Henderson*, R. D., “The Significance of the Rate of Interest,” Oxford Economic Papers, October 1938, I, pp. 1-13.

*Meade, J. E. and Andrews, P. W. S., “Summary of Replies to Questions on Effects of Interest Rates,” Oxford Economic Papers, October 1938, I, pp. 14-31.

Sayers, R. S. “Business Men and the Terms of Borrowing,” Oxford Economic Papers, Feb. 1940, III, pp. 23-31.

Andrews, P. W. S., “A Further Inquiry into the Effects of Rates of Interest,” Oxford Economic Papers, Feb. 1940, III, pp. 32-73.

White*, William H., “Interest Inelasticity of Investment Demand—The Case from Business Attitude Survey Re-Examined,” American Economic Review, September 1956, pp. 565-87.

Lutz, Friedrich A., “The Interest Rate and Investment in a Dynamic Economy,” American Economic Review, Dec. 1945.

General Surveys of Monetary Policy

Federal Reserve Board*, Tenth Annual Report for 1923. See pp. 29-39 particularly.

Chandler*, Lester V., “Federal Reserve Policy and the Federal Debt,” American Economic Review, 1949, and Readings in Monetary Theory, p. 394.

Hardy, Charles O., “Fiscal Operations as Instruments of Economic Stabilization,” American Economic Review, Supplement, 1948, pp. 395-403 and Readings in Monetary Theory, p. 394.

Hart, Albert Gailord, “Monetary Policy for Income Stabilization,” Income Stabilization for a Developing Democracy, ed. by Max F. Millikan, New Haven, 1953.

Williams, John H., “The Implications of Fiscal Policy for Monetary Policy and the Banking System,” AER Proceedings, March 1942; Readings in Fiscal Policy, p. 185.

Smith*, Warren L., “On the Effectiveness of Monetary Policy,” American Economic Review, September 1956, pp. 588-606.

Suggested Objectives and Policies

Hammarskjold, Dag, “The Swedish Discussion on the Aims of Monetary Policy,” reprinted in International Monetary Papers, No. 5, pp. 145-154.

Simons*, Henry C., “Rule versus Authorities in Monetary Policy,” JPE, 1936, and Readings in Monetary Theory, p. 337.

Simons, Henry, “On Debt Policy,” JPE, Dec. 1944, and Readings in Fiscal Policy.

Mints*, Lloyd, W., “Monetary Policy,” Review of Econ. and Stat., 1946 and Readings in Fiscal Policy, p. 344.

Bach*, G. L., “Monetary-Fiscal Policy Reconsidered,” JPE, Oct. 1949, and Readings in Fiscal Policy.

Friedman*, Milton, “A Monetary and Fiscal Framework for Economic Stability,” American Economic Review, 1949, and Readings in Monetary Theory, p. 369.

*United Nations. National and International Measures for Full Employment. Report by a group of experts appointed by the Secretary-General (Lake Success, New York, December 1949).

Viner*, Jacob, “Full Employment at Whatever Cost,” QJE, August 1950, pp. 385-407. Reproduced with omissions in Economic Policy, Readings in Political Economy, edited by William D. Grampp and Emanuel T. Weiler, Homewood, Ill., 1956, pp. 54-65.

Samuelson* Paul A., “Principles and Rules in Modern Fiscal Policy: A New-Classical Reformulation,” Money, Trade and Economic Growth in Honor of John Henry Williams, New York, 1951.

Seltzer* Lawrence H., “Is a Rise in Interest Rates Desirable or Inevitable,” American Economic Review, Dec. 1945; Readings in Fiscal Policy, p. 202.

Roosa, Robert V., “Interest Rates and the Central Bank,” Money, Trade and Economic Growth in Honor of John Henry Williams, 1951.

Roosa*, Robert V., “Integrating Debt Management and Open Market Operations,” American Economic Review, 1952, and Readings in Fiscal Policy, p. 265.

Hansen*, Alvin H., “Monetary Policy,” The Review of Economics and Statistics, May 1955, pp. 110-119.

Commodity Money

Graham, Benjamin, World Commodities and World Currency, New York 1944.

Graham*, Frank D., “Full Employment without Public Debt, Without Taxation, Without Public Works, and without Inflation,” Planning and Paying for Full Employment, edited by Abba P. Lerner and Frank D. Graham, 1946.

Congressional Materials

Joint Committee on the Economic Report. Money, Credit, and Fiscal Policies. Hearings before the Subcommittee on Monetary, Credit and Fiscal Policies of the Joint Committee on the Economic Report, 81^st Congress, First Session, September 23, November 16,17,18,22,23 and December 1,2,3,5,7, 1949.

Joint Committee on the Economic Report. Monetary, Credit, and Fiscal Policies. A Collection of Statements Submitted to the Subcommittee on Monetary, Credit and Fiscal Policies by Government Officials, Bankers, Economists, and Others. 1949.

Joint Committee on the Economic Report (The Douglas Subcommittee). A Compendium of Materials on Monetary, Credit, and Fiscal Policies. A Collection of Statements Submitted to the Subcommittee on Monetary, Credit, and Fiscal Policies by Government Officials, Bankers, Economists, and Others. 81^st Congress, 2^ndSession, Senate Document No. 132, 1950.

Joint Committee on the Economic Report*. Monetary, Credit, and Fiscal Policies. Report of the Subcommittee on Monetary, Credit, and Fiscal Policies of the Joint Committee on the Economic Report. 81^st Congress, 2^ndSession, Senate Document No. 129, 1950.

Joint Committee on the Economic Report. Monetary Policy and the Management of the Public Debt Hearings before the Subcommittee on General Credit Control and Debt Management of the Joint Committee on the Economic Report, 81^st Congress, 2^nd Session, March 1952.

Joint Committee on the Economic Report. Monetary Policy and the Management of the Public Debt. Their Role in Achieving Price Stability and High-Level Employment. Replies to questions and other material for the use of the subcommittee on general credit control and debt management. 82^nd Congress, 2^nd Session, Senate Document No. 123, 1952.

Joint Committee on the Economic Report. Monetary Policy and the Management of the Public Debt Report of the Subcommittee on General Credit Control and Debt Management of the Joint Committee on the Economic Report, 82^nd Congress, 2^nd Session, 1952.

Joint Committee on the Economic Report. United States Monetary Policy: Recent Thinking and Experience Hearings before the Subcommittee on Economic Stabilization of the Joint Committee on the Economic Report. 83^rd Congress, 2^nd Session, December 6 and 7, 1954.

Joint Committee on the Economic Report. January 1956 Economic Report of the President. Hearings before the Joint Committee on the Economic Report. 84^th Congress, 2nd Session, January 31, February 1,2,3,6,7,8,9,14,15,17 and 28, 1956.

Joint Committee on the Economic Report*. Conflicting Official Views on Monetary Policy; April 1956. Hearings before the Subcommittee on Economic Stabilization of the Joint Committee on Economic Report, 84^thCongress, 2^nd Session, June 12, 1956.

Readings for Amusement

Outside Readings in Economics, second edition. Selected by Hess, Arleigh P. Jr., Gallman, Robert E., Rice, John P., and Stern, Carl, New York, 1956. The “Dialogue on Money,” by D. H. Robertson; “The Island of Stone Money,” by William H. Furness III; “The Paper Money of Kubla Khan,” by Marco Polo; and “The Edict of Diocletian,” by Humphrey Mitchell, pp. 314-335 are very amusing and instructive.

PART II—FISCAL POLICY

See the remarks in Part I.

Factual Materials of General Character

Joint Committee on the Economic Report.* The Federal Revenue System: Facts and Problems, 1956

Treasury Bulletin

Annual Reports of the Secretary of the Treasury and of the Commissioner of Internal Revenue

Statistical Abstract of the United States

Historical Statistics of the United States, 1789-1945 (published by the U. S. Bureau of the Census)

U. S. Treasury Department, Internal Revenue Service, Statistics of Income (an annual publication in two volumes)

U. S. Bureau of the Census, Summary of Governmental Finances (annual series)

The Budget of the U. S. Government

Commerce Clearing House, Inc., Tax Systems

West Publishing Co., Federal Tax Regulations, 1956

Congressional Hearings and Reports, listed in Part I and below

Textbooks on Public Finance and Fiscal Policy

Historical Studies

Ratner, S., American Taxation: Its History as a Social Force in a Democracy, New York, 1942

Fabricant*, S., The Trend of Government Activity in the United States since 1900, New York, 1952, Chapters 1, 6, 7

Studenski, P. and H. E. Kroos, Financial History of the United States, New York, 1952

Musgrave*, R. A. and J. M. Culbertson, “The Growth of Public Expenditures in the United States,” National Tax Journal, June, 1953, pp. 97-115

Paul, R. E., Taxation in the United States, Boston, 1954

Fundamental Assumptions

Hansen*, A. H., “The Stagnation Thesis,” Fiscal Policy and the Business Cycle, New York, 1941, pp. 38-46, and Readings in Fiscal Policy

Schumpeter*, J. A., “Economic Possibilities in the United States,” Capitalism, Socialism, and Democracy, 1947, and Readings in Fiscal Policy

Domar*, E. D., “The Problem of Capital Accumulation,” The American Economic Review, December, 1948

Fellner*, W., “Relative Emphasis in Tax Policy on Encouragement of Consumption or Investment,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D.C., November 9, 1955, p. 210

Hansen*, A. H., “Economic Stability and Growth,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 14

Smithies*, A., “Economic Growth as a Policy Objective,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 32.

General Objectives and Policies

Keynes* J. M., “An Open Letter,” The New York Times, 1933, and Readings in Fiscal Policy

Lerner*, A. P., “Functional Finance and the Federal Debt,” Social Research, 1943, and Readings in Fiscal Policy. Also Chapter 24 in his Economics of Control, New York, 1944

Hart, A. G., “’Model-Building’ and Fiscal Policy,” American Economic Review, 1945, and Readings in Fiscal Policy

Committee for Economic Development, “Taxes and the Budget: A Program for Prosperity in a Free Economy,” Readings in Fiscal Policy, 1947

Colm* G., “The Government Budget and the Nation’s Economic Budget,” Public Finance, 1948, and Readings

Friedman*, M., “A Monetary and Fiscal Framework for Economic Stability,” American Economic Review, 1948, and Readings

National Planning Association, “Federal Expenditure and Revenue Policy for Economic Stability,” 1949, Readings

Bach*, G. L., “Monetary-Fiscal Policy Reconsidered,” Journal of Political Economy, October, 1949, and Readings

United Nations*, National and International Measures for Full Employment (report by a group of experts appointed by the Secretary-General), Lake Success, New York, December, 1949

Simons*, H. C., Federal Tax Reform, Chicago, 1950

Viner*, J., “Full Employment at Whatever Cost,” The Quarterly Journal of Economics, August, 1950

Samuelson*, P. A., “Principles and Rules in Modern Fiscal Policy; A Neoclassical Reformulation,” Money, Trade, and Economic Growth: in Honor of John H. Williams, New York, 1951

Millikan, M., ed., Income Stabilization for a Developing Democracy, Yale, 1953

Rolph, E.R., The Theory of Fiscal Economics, Berkeley and Los Angeles, 1954

U. S. Congress, Joint Committee on the Economic Report, Federal Tax Policy for Economic Growth and Stability, December, 1955, Hearings

American Economic Association* Readings in Fiscal Policy, Homewood, Illinois, 1955

National Bureau of Economic Research, Policies to Combat Depression, a conference of the Universities-National Bureau Committee for Economic Research, 1956

Council of Economic Advisers*, the latest Annual Report

Institutional Factors

Bailey, S. K., Congress Makes a Law: the Story behind the Employment Act of 1946, New York, 1950

Bailey, S. K. and H. D. Samuel, Congress at Work, New York, 1952

Blough, R., The Federal Taxing Process, New York, 1952

Smithies*, A., The Budgetary Process in the United States, Committee for Economic Development, New York, 1955

Tax Incidence

Musgrave*, R. A., et al, “Distribution of Tax Payments by Income Groups,” National Tax Journal, March, 1951

Little, I. M. D., “Direct versus Indirect Taxes, Economic Journal, September, 1951

Musgrave*, R. A., “On Incidence,” Journal of Political Economy, August, 1953

Bach*, G. L., “The Impact of Moderate Inflation on Income and Assets of Economic Groups,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 71

Musgrave*, R.A., “Incidence of the Tax Structure and its Effects on Consumption,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 96

Cyclical Aspects

Slichter*, S. H., “The Economics of Public Works,” American Economics Review, 1934, and Readings in Fiscal Policy

Lutz, H. L., “Federal Depression Financing and its Consequences,” Harvard Business Review, 1938, and Readings

Myrdal* G., “Fiscal Policy in the Business Trade,” American Economic Review Supplement, 1939, and Readings

Hagen, E. E., “Timing and Administering Fiscal Policy,” American Economic Review, May, 1948

Committee on Public Issues of the American Economic Association*, “The Problem of Economic Instability,” American Economic Review, 1950, and Readings

Smithies*, A., “The American Economic Association Committee Report on Economic Instability,” American Economic Review, 1951, and Readings

Phillips, A. W., “Stabilization Policy in a Closed Economy,” The Economic Journal, June, 1954, pp. 290-323

Committee for Economic Development*, Problems in Anti-Recession Policy, September 1954

Alternative Budgets for Full Employment

Kaldor*, N., Appendix C in W. H. Beveridge, Full Employment in a Free Society, 1945

Musgrave*, R. A., “Alternative Budget Policies for Full Employment,” American Economic Review, 1945, and Readings

Musgrave*, R. A. and M. H. Miller, “Built-In Flexibility,” American Economic Review, 1948 and Readings

Bishop*, R. L., “Alternative Expansionist Policies,” Income, Employment and Public Policy: Essays in Honor of Alvin H. Hansen, New York, 1948

Stein, H., “Budget Policy to Maintain Stability,” Problems in Anti-Recession Policy, Committee for Economic Development, September, 1954

Hagen*, E. E., “Federal Taxation and Economic Stabilization,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, November 9, 1955, pp. 58-70

Lusher, D. W., “The Stabilizing Effectiveness of Budget Flexibility,” Policies to Combat Depression, a conference of the Universities-National Bureau Committee for Economic Research, Princeton, 1956

Balanced Budget Multiplier

Wallich*, H. C., “Income-Generating Effects of a Balanced Budget,” Quarterly Journal of Economics, November, 1944

Haavelmo*, T., “Multiplier Effects of a Balanced Budget,” Econometrica, 1945, and Readings

Haberler, G., “Multiplier Effects of a Balanced Budget,” Econometrica, April, 1946

Baumol, W. J. and M. H. Preston, “More on the Multiplier Effects of a Balanced Budget under Full Employment,” American Economic Review, March, 1955

The National Debt

Studenski, P., “The Limits of Possible Debt Burdens—Federal, State, and Local,” American Economic Review, Supplement, 1937

Haley*, R. F., “The Federal Budget: Economic Consequences of Deficit Financing,” American Economic Review, 1941, and Readings

Williams*, H. H., “Deficit Spending,” American Economic Review, February, 1941 and Postwar Monetary Plans and other Essays, 1944

Ratchford, B. U., “The Burden of a Domestic Debt,” American Economic Review, 1942, and Readings

Williams, J. H., “The Implications of Fiscal Policy for Monetary Policy and the Banking System,” Proceedings of the American Economic Association, 1942, and Readings

Domar*, E. D., “The ‘Burden of the Debt’ and the National Income,” American Economic Review, 1944, and Readings

Simons*, H., “On Debt Policy,” Journal of Political Economy, 1944, and Readings

Seltzer, L. H., “Is a Rise in Interest Rates Desirable or Inevitable?” American Economic Review, 1945, and Readings

Wallich, H. C., “Debt Management as an Instrument of Economic Policy,” American Economic Review, June, 1946

Roosa, R. V., “Integrating Debt Management and Open Market Operations,” American Economic Review, 1952, and Readings

Burkhead*, J., “The Balanced Budget,” Quarterly Journal of Economic, 1954, and Readings

Inflation and War Finance

Sprague, O. M. W., “Loans and Taxes in War Finance,” American Economic Review, Proceedings, 1917, and Readings

Keynes*, J. M., How to Pay for the War, London, 1940

Smithies*, A., “The Behavior of Money National Income under Inflationary Conditions,” Quarterly Journal of Economics, 1942, and Readings

Fellner*, W. J., “Postscript on War Inflation: A Lesson from World War II,” American Economic Review, 1947, and Readings

Fetter*, F., “The Economic Reports of the President and the Problem of Inflation,” Quarterly Journal of Economics, 1949, and Readings

Wald, H. P., “Fiscal Policy, Military Preparedness, and Postwar Inflation,” National Tax Journal, 1949, and Readings

Hart, A. G., Defense Without Inflation, New York, 1951

Effect on Incentives: Incentive Taxation

Domar*, E. D., and R. A. Musgrave, “Proportional Income Taxation and Risk Taking,” Quarterly Journal of Economic, May, 1954

Butters, J. K., and J. Lintner, Effect of Federal Taxes on Growing Enterprises, Boston, 1945

Groves*, H. M., Postwar Taxation and Economic Progress, New York, 1946, Chapter 11

Shelton, J. P., and G. Ohlin, “A Swedish Tax Provision for Stabilizing Business Investment,” American Economic Review, June, 1952

Brown*, R. S., “Techniques for Influencing Private Investment,” Income Stabilization in a Developing Democracy, M. Millikan, ed., 1953, pp. 416-432

Domar*, E. D., “The Case for Accelerated Depreciation,” Quarterly Journal of Economics, February, 1953

Butters*, J. K., “Taxation, Incentives, and Financial Capacity,” American Economic Review, Supplement, 1954, and Readings

Brown, E. C., “The New Depreciation Policy under the Income Tax: An Economic Analysis,” National Tax Journal, March, 1955

Goode*, R., “Accelerated Depreciation Allowances as a Stimulus to Investment,” Quarterly Journal of Economics, May, 1955

Break*, G. F., “Effects of Taxation on Work Incentives,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 192

Brown*, E. C., “Weaknesses of Accelerated Depreciation as an Investment Stimulus,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 495

Butters*, J. K., “Effects of Taxation on the Investment Capacities and Policies of Individuals,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 126

Greenewalt*, C. H., “Effect of High Tax Rates on Executive Incentive,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 185

Long*, C. D., “Impact of Federal Income Tax on Labor Force Participation,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 153

Kaldor*, N., “An Expenditure Tax,” London, 1955

Particular Taxes

Simons, H., Personal Income Taxation, Chicago, 1938

Brown*, E. C., “Analysis of Consumption Taxes in Terms of the Theory of Income Determination,” American Economic Review, March, 1950

Goode*, R., Corporation Income Tax, New York, 1951

Royal Commission on the Taxation of Profits and Income, First Report, February, 1953; Second Report, April, 1954; Final Report, June, 1955

Due, J. F., “Economics of Commodity Taxation and the Present Excise Tax System,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 547

Keith*, G., “Economic Impact of the Corporation Income Tax,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 658

Goode, R., “The Corporate Income Tax in a Depression,” Policies to Combat Depression, a conference of the Universities-National Bureau Committee for Economic Research, 1956

Merriam, I. C., “Social Security Programs and Economic Stability,” Policies to Combat Depression

Pechman, J. A., “Yield of the Individual Income Tax During A Recession,” Policies to Combat Depression

Inter-Governmental Fiscal Relations

Maxwell*, J. A., “Intergovernmental Fiscal Devices for Economic Stabilization,” Federal Tax Policy for Economic Growth and Stability, Joint Committee on the Economic Report, Washington, D. C., November 9, 1955, p. 807

Heer*, C., “Stabilizing State and Local Finance,” Policies to Combat Depression, 1956

U. S. Treasury Department, Committee on Inter-Governmental Fiscal Relations, Federal, State, and Local Government Fiscal Relations, 78^th Congress, 1^st Session, Senate Document No. 69, 1943

U. S. Bureau of the Census, Compendium of State Government Finances (an annual series)

Same source, Compendium of City Government Finances (an annual series)

Tax Institute, Federal-State-Local Tax Correlation (A Symposium), December, 1953

The Council of State Governments, Federal Grants-in-Aid, 1949

Growth and Economic Development

Bernstein*, E. M. and I. G. Patel, “Inflation in Relation to Economic Development,” International Monetary Fund, Staff papers, II, 1951-52

United Nations*: Fiscal Division, “Taxation and Economic Development in Asian Countries,” Economic Bulletin for Asia and the Far East, Vol. IV, November, 1953

Gurley, J. A., “Fiscal Policy in a Growing Economy,” Journal of Political Economy, December, 1953

Papers and Proceedings of the Conference on Agricultural Taxation and Economic Development, H. P. Wald, and J. N. Froomkin, eds., Cambridge, Massachusetts, 1954 (Harvard University Law School, International Program in Taxation)

Special Problems

Clark*, C., “Public Finance and Changes in the Value of Money,” The Economic Journal, December, 1945

Clark*, C., “The Danger Point in Taxes,” Harper’s Magazine, December, 1950

Goode*, R., “An Economic Limit on Taxes: Some Recent Discussion,” National Tax Journal, September, 1952

Caplan, B., “A Case Study: The 1948-1949 Recession,” Policies to Combat Depression, 1956

Fox, K. A., “The Contribution of Farm Price Support Programs to General Economic Stability,” Policies to Combat Depression, 1956

Gordon, R. A., “Types of Depressions and Programs to Combat Them,” Policies to Combat Depression

Grebler, L., “Housing Policies to Comat Depression,” Policies to Combat Depression

Johnson, D. G., “Stabilization of International Commodity Prices,” Policies to Combat Depression

Owen, W., “Self-Liquidating Public Works to Combat Depression,” Policies to Combat Depression

Source: Duke University, David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Box 17, Folder “Fiscal and Monetary Policy”.

___________________________

FINAL EXAMINATION
14.472 Fiscal Policy
Monday, May 20, 1957

E. D. Domar

ANSWER ALL QUESTIONS. THE QUALITY OF YOUR REASONING IS THE MOST IMPORTANT PART OF YOUR ANSWERS.

[35%] Compare and contrast monetary and fiscal policies as methods of achieving a steadily expanding economy (without inflation or depression). Include, but don’t limit yourself to, the following points:
1. 1. The theoretical foundation of each.
  2. Methods used.
  3. Effects on distribution of income and wealth.
  4. Social and political repercussions of each.
  5. The effectiveness and limitations of each.

Do they overlap? Can you work out a synthesis?

[20%] “Government spending tends to be like a drug, in that it takes larger and larger doses to get results, and all the time debt and taxes get higher and higher.”
Analyze this statement and comment as fully as you can. Compare the effect of government expenditures with that of private.
[15%] “The best cure against inflation is increased production.”
Analyze this statement and comment on it. Include in your comments the monetary and fiscal implications of this statement.
[15%] What are the so-called “Built-in-Stabilizers?” Discuss fully and indicate how they operate in (a) depression and (b) inflation.
[15%] “The purpose of taxation is never to raise money but to leave less in the hands of the taxpayer.”
Comment fully and indicate the limitations of this statement. Can you identify the author? (No great penalty if you cannot.)

Source: Duke University, David M. Rubenstein Rare Book and Manuscript Library. Economists’ Papers Archive. Box 16, Folder “Examination. Public Finance and Fiscal Policy”.

Notes on Final Exam:

Question II comes from a review of Stuart Chase, Where’s the Money Coming From? Published in the Monthly Bulletin of the National City Bank of New York that I was fortunate to find inserted into the Congressional Record Volume 93—Part 4 (May 8, 1947, p. 4827);

Question III. Domar liked this question enough to have used it at least twice. See January 23, 1958 Exam at Johns Hopkins; January 26, 1966 at M.I.T.;

Question V. The sentence quoted comes from Abba Lerner’s The Economics of Control, p. 307.

___________________________

Image Source: Evsey D. Domar at the MIT Museum legacy website.

Tags BrownEC, Domar, Musgrave

Chicago Economic History Suggested Reading Syllabus

Chicago. Reading Assignments for Development of Monetary and Financial Institutions. Hamilton, 1952

Post author By Irwin Collier
Post date 2020-01-23

The 1960 reading assignments for Earl J. Hamilton’s course on the historical development of monetary and financial institutions at the University of Chicago were transcribed and posted earlier. It turns out that a copy of the 1952 reading assignments for the course can be found filed in a folder in the Milton Friedman Papers at the Hoover Institution. Since there was no name on the 1952 reading list, an archivist is likely to have erroneously assumed that the course had been taught by Friedman and so filed it with other materials from those courses taught by Milton Friedman. A casual comparison of the two sets of reading assignments is enough to verify that bibliographic formatting (e.g., Library of Congress call numbers are included for all items) and the overwhelming majority of items are common to the two lists (with some shuffling in the order of the readings).

____________________________

Course Description (1951)

[Economics] 334. The Development of Monetary and Financial Institutions. The evolution of monetary and banking systems in leading nations, the rise of organized dealings in foreign exchange, the emergence of great money markets, the origin and growth of national debt and the economic consequences of inflation and deflation. Theories underlying and reflecting monetary and financial changes. Prereq: Econ 222 or 230. Spr: MTuWF 9:30; Hamilton

Source: University of Chicago. Announcements, Vol. 50, No. 9 (July 20, 1950). The Division of the Social Sciences, Sessions of 1950-1951, p. 30.

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Course Reading Assignments

Economics 334

Assignments to be read before July 16, 1952

Luigi Einaudi, “The Medieval Practice of Managed Currency,” in A.D. Gayer (Editor), The Lessons of Monetary Experience, pp. 259-268. HG 255.L63
W. C. Mitchell, “The Role of Money in Economic Theory,” in The Backward Art of Spending Money, Pp. 149-176. HB 33.M68.
Official Papers by Alfred Marshall, pp. 3-16. HG171.M318.
R. G. Hawtrey, Currency and Credit, Chapter on “The Bank Restriction of 1797.” HG221.H4
J. M. Keynes, A Tract on Monetary Reform, Chapters I-II, IV. HG221.K4
J. M. Keynes, A Treatise on Money, Vol. II, Chapter 30. HG221.K422
Alfred Marshall, Money, Credit, and Commerce, Book IV, and Appendix A. HG221.M35
Charles F. Dunbar (Revised and edited by O. M. W. Sprague), The Theory and History of Banking, Chapters VIII (“The English Banking System”), IX (“The French Banking System”), X (“The German Banking System”), XI (“The National Banks of the United States”). HG1586.D9
Earl J. Hamilton, American Treasure and the Price Revolution in Spain, Chapter XIII. H31.H33, v. 43.
*Earl J. Hamilton, “The Foundation of the Bank of Spain,” Journal of Political Economy, Vol. LIII (1945), pp. 97-114. HB1.J7.
Earl J. Hamilton, “Prices and Wages at Paris under John Law’s System,” Quarterly Journal of Economics, Vol. LI, (1936-1937), pp. 42-70. HB1.Q3
Walter Bagehot, Lombard Street. HG3000.L82B3
R. S. Sayers, “The Question of the Standard in the Eighteen-Fifties,” Economic History (a supplement to the Economic Journal), Vol. II, pp. 575-601. HB1.E31
Rufus S. Tucker, “The Myth of 1849,” in C.O Hardy, Is There Enough Gold? Appendix A, pp. 177-199. HG289.H28
Davis R. Dewey, Financial History of the United States, 12^th Ed. Pp. 320-328 (“Arguments in Favor of a National Banking System” and “National Banking Act of 1863.”) HJ241.D576
*R. G. Hawtrey, A Century of Bank Rate, Chapters I-IV. HG1623.G7H4

*Read for interpretation and point of view. Do not try to remember facts.

There will be an examination on July 16 on these assignments and the lectures.

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

Economics 334

Assignments to be read by not later than August 13, 1952

J. Silberling, “Financial and Monetary Policy of Great Britain during the Napoleonic Wars,” Quarterly Journal of Economics, Vol. XXXVIII (1923-24), pp. 214-33, 397-439. HB1.Q3, v.38
H. Clapham, The Bank of England, Vol. II, Chapters VI-VIII and Epilogue. HG2996.C6
M. Keynes, Essays in Persuasion, Part II, Chaps. 1 and 3; Part III, Chapter 5; Part V, Chapter 2. In the London, 1933 edition these chapters cover pages 77-79, 105-17, 244-70, 358-73. HC57.K471
H. Robertson, Essays in Monetary Theory, Chaps. I and XII. HB171.R544
Fred H. Klopstock, “Monetary Reform in Western Germany,” Journal of Political Economy, August, 1949. HB1.J7, v. 57
Alfred Marshall, Money, Credit, and Commerce, Book II. HG221.M35
Henri Hauser, Les origins historiques des problèmes économiques actuels, Paris, 1930, pp. 70-90.
M. W. Sprague, Crises under the National Banking System, Washington, 1910, pp. 1-107. HB3743.S7
M. Keynes, A Treatise on Money, Vol. II, Chaps. 35 and 37. HG221.K422
M. Keynes, The General Theory of Employment, Interest and Money, Chapter 23. HB171.K46
W. Kemmerer, The ABC of the Federal Reserve System, Princeton University Press, 1936, Chapters I-V. HG2563.K31
Jacob Viner, Studies in the Theory of International Trade, Chapters III-V. HF1007.V75
Adam Smith, Wealth of Nations, “Digression concerning Banks of Deposit, particularly concerning that of Amsterdam,” in Book IV, Chapter III, Part I. HB161.S65.
Knut Wicksell, “The Influence of the Rate of Interest on Prices,” Economic Journal, Vol. XVII (1907), pp. 213-220. YW16 (reprint)

There will be an hour examination on August 13^th.

Source: Hoover Institution Archives. Papers of Milton Friedman. Box 78, Folder 1 “University of Chicago Econ 334”.

Image Source: University of Chicago Photographic Archive, apf1-02446, Special Collections Research Center, University of Chicago Library.

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Exam Questions Harvard Socialism Suggested Reading Syllabus Undergraduate

Harvard. Readings and Final Exam for Normative Aspects of Economic Policy. Bergson, 1960

Post author By Irwin Collier
Post date 2020-01-20

The reading list and final exam questions from 1959 for Abram Bergson‘s Harvard undergraduate course “Normative Aspects of Economic Policy” have been posted earlier. This post provides material for the same course taught in the spring term of 1960. The reading lists are completely identical, but this time I have gone to the trouble of providing links to most of the course readings. The exam questions for the 1960 do indeed differ from those of 1959 while covering broadly the same material.

_________________

Enrollment

[Economics] 111a. Normative Aspects of Economic Policy. Professor Bergson. Half course. (Spring)

Total 36: 3 Graduates, 14 Seniors, 7 Juniors, 7 Sophomores, 1 Freshman, 3 Radcliffe, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1959-1960, p. 82.

_________________

HARVARD UNIVERSITY
Department of Economics

Economics 111a
Normative Aspects of Economic Policy
Spring Term: 1959-60

The concept of economic efficiency.

Scitovsky, Welfare and Competition, Chicago, 1951, Chapter I.

Consumers’ goods distribution and labor recruitment: the efficiency of perfect competition: other forms of market organization.

Scitovsky, Chapters II-V, XVI (pp. 338-41), XVIII, XX (pp. 423-427).
A. P. Lerner, Economics of Control, New York, 1946, Chapter 2.

Conditions for efficiency in production.

Scitovsky, Chapters VI-VIII.
Lerner, Chapter 5.

Production efficiency under perfect competition; monopolistic markets.

See the readings under topic 3.
Scitovsky, Chapter X, XI, XII, XV, XVI (pp. 341-363), XVII, XX (pp. 428-439).
Lerner, Chapters 6, 7.

The optimum rate of investment.

Scitovsky, Chapter IX (pp. 216-228).
A. C. Pigou, Economics of Welfare, fourth ed., London, 1948, pp. 23-30.”Wa

Price policy for a public enterprise.

Lerner, Chapter 15.
I. M. D. Little, A Critique of Welfare Economics, 2^nd ed., Oxford, 1957, Chapter XI.
O. Eckstein, Water Resource Development, Cambridge, 1958, pp. 47-70, pp. 81-109.

Socialist economic calculation.

O. Lange, On the Economic Theory of Socialism, Minn., 1938, pp. 55-141.
F. Hayek, Socialist Calculation: Economica, May 1940
A. Bergson, Socialist Economics, in H. Ellis, ed., A Survey of Contemporary Economics, Philadelphia, 1948.
M. Dobb, Economic Theory and Socialism, New York, 1955, pp. 41-92.

Economic calculation in underdeveloped countries.

A. Datta, Welfare versus Growth Economics, Indian Economic Journal, October 1956.
T. Scitovsky, Two Concepts of External Economics, Journal of Political Economy, April 1954.
J. Tinbergen, The Design of Development, Balto., Md., 1958.

The concept of social welfare.

The writings of Bergson and Dobb under topic 7.
Pigou, Economics of Welfare, Chapters I, VIII.
Lerner, Chapter 3.
J. R. Hicks, Foundations of Welfare Economics, Economic Journal, December 1939.
Arthur Smithies, Economic Welfare and Policy, in A. Smithies et al., Economics and Public Policy, Washington, 1955.

Other References on the Concept of Social Welfare and Optimum Conditions

M. W. Reder, Studies in the Theory of Welfare Economics, New York 1947.

P. A. Samuelson, Foundations of Economic Analysis, Cambridge, 1947, Chapter VIII.

K. Boulding, Welfare Economics, in B. Haley, A Survey of Contemporary Economics, Homewood, Illinois, 1952.

H. Myint, Theories of Welfare Economics, Cambridge, Mass., 1948.

J. A. Hobson, Work and Wealth, London, 1933.

J. M. Clark, Guideposts in Time of Change, New York, 1949.

J. de V. Graaf, Theoretical Welfare Economics, Cambridge, 1957.

F. M. Bator, The Simple Analytics of Welfare Maximization, American Economic Review, March 1957.

A. Bergson, A Reformulation [of Certain Aspects] of Welfare Economics, Quarterly Journal of Economics, February 1938.

P. A. Samuelson, Evaluation of Real National Income, Oxford Economic Papers, January 1950.

A. C. Pigou, Some Aspects of Welfare Economics, American Economic Review, June 1951.

T. Scitovsky, The State of Welfare Economics, American Economic Review, June 1951.

J. E. Meade, Trade and Welfare, New York, 1955, Part I.

[Note: no additional assignment for the reading period]

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 7, Folder “Economics, 1959-60”.

_________________

HARVARD UNIVERSITY
Department of Economics

Economics 111a
Final Examination

June 2, 1960

Answer four and only four of the following six questions.

Explain the “price-consumption” curve for a single household in a perfectly competitive consumers’ goods market. What determines the shape of the curve? By use of this curve, show how the household’s consumption might be affected by a percentage sales tax on one commodity. What determines the total taxes paid by the household?
In an economy which otherwise is perfectly competitive, a trade union arbitrarily limits entry of workers into a single industry. In equilibrium, what conditions for an economic optimum are violated?
“Under ‘free’ competition it is true that individual firms have monopoly power and hence charge prices above marginal costs. But since there is free entry, there hardly can be any serious economic waste on this account, for prices cannot long exceed average cost.” Discuss.
For purposes of fixing prices for a public enterprise, what arguments might be advanced for and against acceptance of each of the following theoretic principles:
1. Maximization of profits;
2. Pricing at average cost, including a “normal” competitive return on invested capital;
3. Pricing at marginal cost;
4. Pricing at minimum average costs.
Explain briefly:
1. Parametric function of prices;
2. “Technological” versus “pecuniary” external economies;
3. “Accounting prices” in economics of development;
4. “Defective telescopic faculty.”
Discuss the different approaches employed in welfare economics to the problem of income distribution.

Source: Harvard University Archives. Papers Printed for Final Examinations: History, History of Religions, …, Economics, …,Naval Science, Air Science. June 1960. In Social Sciences, Final Examinations, June 1960 (HUC 2000.28, No. 128).

Portrait of Abram Bergson. See Paul A. Samuelson, “Abram Bergson, 1914-2003: A Biographical Memoir”, in National Academy of Sciences, Biographical Memoirs, Volume 84 (Washington, D.C.: 2004).

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Exam Questions Harvard Suggested Reading Syllabus

Harvard. Graduate core economic theory, Syllabus and Exams. Chamberlin, 1941-42.

Post author By Irwin Collier
Post date 2019-12-19

Reading assignments in the first year core economic theory course taught by Edward Chamberlin at Harvard University in 1941-42 included some of the golden ‘oldies of David Ricardo, John Stuart Mill, John Elliott Cairnes, John Bates Clark, and Alfred Marshall. Works by Joan Robinson, John Hicks and, of course, Chamberlin himself provided modern accents to the economic theory taught in the course.

Edward Chamberlin’s syllabus and final year-end exam for his 1938-39 version of core economic theory were posted earlier as have been the syllabus and both semester final exams for 1946-47.

___________________________

Economic Theory.
Edward Hastings Chamberlin

Course Enrollment

[Economics] 101. Professor Chamberlin. – Economic Theory.

Total 53: 9 Graduates, 7 Radcliffe, 8 School of Public Administration.

Source: Harvard University. Report of the President of Harvard College, 1941-42, p. 63.

___________________________

Course Description

[Economics] 101. – Economic Theory.

This course aims to provide a general background in economic theory. Leading problems in value and distribution will be discussed with some reference to particular writers and schools of thought, but with the main objective of training the student in economic analysis. Active participation in the class discussions is expected.

Source: Identical descriptions in the Division of History, Government, and Economics announcements for 1940-41 and 1942-43.

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Economics 101

1941-42

First Semester

I. Mill – Principles, Book II, chapter 4; Book III, chapters 1, 2.

Chamberlin – Monopolistic Competition, chapters 1, 2.

Mill – Principles, Book III, chapters 3, 5, 6.

Marshall – Principles, pp. 348-50; p. 806 note.

Mill – Principles, Book III, chapter 4.

Suggested Reading:

Introduction to the Ashley ed. of Mill, or

Mill’s Autobiography

Ricardo – Political Economy (Gonner edition), chapter 1.

II. Boehm-Bawerk – Positive Theory of Capital, Books III, IV.

Marshall – Principles, Appendix I.

Wicksell – Lectures on Political Economy, chapter 1.

Suggested Reading:

Jevons – Theory of Political Economy, chapters 3, 4.

Phelps-Brown– The Framework of the Pricing System, chapter 2.

III. Hicks – Value and Capital, chapters 1, 2.

IV. Marshall – Principles, Book V, chapters 1-5; Book IV, chapter 13; Book V, chapters 8, 9, 10, 12; Appendix H.

Knight, F. H. – “Cost of Production and Price over Long and Short Periods”, Journal of Political Economy, Vol. 29, p. 304 (1921). (Reprinted in Knight, The Ethics of Competition and Other Essays, Chapter 8).

Viner – “Cost Curves and Supply Curves,” Zeitschrift für Nationalökonomie, 1931.

Chamberlin – Monopolistic Competition, Appendix B.

Suggested Reading:

Additional reading in Marshall.

Keynes – “Alfred Marshall” – Economic Journal, September 1924. (Also in Keynes, Essays in Biography.)

Sraffa – “The Laws of Returns under Competitive Conditions,” Economic Journal, Vol. 36, p. 535 (1926).

Taussig, F. W. – “Price Fixing as Seen by a Price Fixer,” Quarterly Journal of Economics, Vol. 33, p. 205.

V. Chamberlin – Monopolistic Competition, chapter 3.

Abramovitz – “Monopolistic Selling in a Changing Economy”, Quarterly Journal of Economics, Vol. 52, p. 191 (1938).

Suggested Reading:

Zeuthen – Problems of Monopoly, chapter 2.

Monopolistic Competition, Appendix A.Problems of Monopoly and Economic Warfare

VI. Robinson – Imperfect Competition, Introduction, and chapters 1,2,3.

Chamberlin – Monopolistic Competition, chapters 4, 5; Appendices D, E.

Chamberlin – “Monopolistic or Imperfect Competition?”, Quarterly Journal of Economics, August, 1937.

Sweezy, P. M. – “On the Definition of Monopoly”, Quarterly Journal of Economics, Vol. 51, p. 362 (1937)

Cassels, J. M. – “Excess Capacity and Monopolistic Competition”, Quarterly Journal of Economics, Vol. 51, p. 426. (1937)

Suggested Reading:

Kaldor – “Professor Chamberlin on Monopolistic and Imperfect Competition”, Quarterly Journal of Economics, May, 1938: and Reply.

Robinson – Imperfect Competition, chapters 4, 5, 6, 7.

VII. Chamberlin – Monopolistic Competition, Appendix C.

Alsberg, C. L. – “Economic Aspects of Adulteration and Imitation”, Quarterly Journal of Economics, Vol. 46, p. 1 (1931).

Suggested Reading:

Hotelling, H. “Stability in Competition”, Economic Journal, Vol. 39, p. 41 (1929)

Lerner, A. P. and Singer, H.W. – “Some Notes on Duopoly and Spatial Competition”, Journal of Political Economy, Vol. 45, p. 145 (1937)

Burns, A.R. – The Decline of Competition, chapter VIII, “Non-Price Competition”.

Source: Harvard University Archives. Syllabi, Course Outlines and ReadingLists in Economics, 1895-2003. Box 2, Folder, “Syllabi, course outlines and reading lists in Economics, 1941-42.”

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1941-42
HARVARD UNIVERSITY
ECONOMICS 101
Mid-year examination, 1942.

Answer question 2 and any five of the others (six in all).

What parts of Mill’s theory of value would be acceptable and what parts not acceptable to economic theory today?
Answer either (a) or (b).
1. What does utility theory contribute to our understanding of the economic process, and how useful do you think it is to the economist of 1942? Answer the same question for the indifference curve analysis.
2. Discuss the following proposition: “An individual will maximize his total satisfaction or utility, if the marginal utilities of all commodities are equalized.”
Distinguish between a supply curve and a cost curve. Under what conditions is it possible for either or both to fall from left to right? What are the consequences of such a phenomenon?
Write a critical appraisal of Professor Viner’s article “Cost Curves and Supply Curves,” confining yourself to the subjects which seem to you most important. Compare his views where possible with those of other writers and with your own.
What types of industries, if any, would you expect to find operating under conditions of increasing cost? Constant cost? Decreasing cost? Compare your own views with those of other writers with whom you are familiar.
Discuss the difficulties involved in constructing a demand curve for the product of an individual firm where oligopolistic influences are important.
What has monopolistic competition in common with pure competition? With monopoly? Discuss fully.
Answer either (a) or (b).
1. Discuss any aspect of the experimental market problem worked out in class which you think interesting or important.
2. “With respect to quality there appears to be a sort of ‘Gresham’s Law’ for commodities: the inferior products tend to drive the better ones from the market.” Discuss.

Source: Harvard University Archives. Harvard University, Mid-year examinations 1852-1943. Box 15, Papers Printed for Mid-Year Examinations: History, History of Religions,…, Economics, …, Military Science, Naval Science. January-February, 1942.

___________________________

Economics 101

1941-42

Second Semester

I. Selling Costs:

Monopolistic Competition, Chapters 6, 7.

Braithwaite, Dorothea, “The Economic Effects of Advertisement,” Economic Journal, Vol. 38, p. 16 (1928). Reprinted as Chapter VII in Braithwaite and Dobbs, the Distribution of Consumable Goods.

II. Distribution – General:

Marshall, Principles, Book VI, Chapters 1-5.

Clark, J. B., Distribution of Wealth, Chapter 8.

Knight, Risk, Uncertainty and Profit, Chapter 4.

Chamberlin, Monopolistic Competition, Chapter 8.

Suggested Reading:

Garver & Hansen, Principles, Chapter 5.

Kahn, “Some Notes on Ideal Output” (last half) Economic Journal.

III. Wages:

Hicks, Theory of Wages, Chapters 1-7; 9; 10, section 1; 11, section 5.

Taussig, Principles, 3rd revised edition Chapter 47.

Robertson, Economic Fragments, Chapter on “Wage Grumbles.”

Suggested Reading:

Machlup, “The Common Sense of Elasticity of Substitution,” Review of Economic Studies, Vol. II, Page 202.

Cairnes, Leading Principles, Chapter 3.

IV. Interest:

Böhm-Bawerk, Positive Theory, Book I, chapter 2; Book II; Book V; Book VI, chapters 5, 6, 7; Book VII, chapters 1, 2, 3.

Fisher, Theory of Interest, pp. 473-85.

Marshall, Principles, Book IV, chapter 7; Book VI, chapter 1, sections 8, 9, 10, chapter 2, section 4, chapter 6.

Wicksell, Lectures, Vol. I, pages 144-171, 185-195, 207-218.

Clark, J. B., Distribution of Wealth, chapters 9, 20.

Schumpeter, Theory of Economic Development, chapters 1-5.

V. Rent:

Ricardo, Chapter 2.

Marshall, Book V, chapters 8, 9, 10, 11.

Robinson, Imperfect Competition, chapters 8, 9.

VI. Profits:

Marshall, Book VI, chapter 5, section 7; chapters 7, 8.

Taussig, Principles, 3rd revised edition, Vol. II, chapter 50, section 1.

Henderson, Supply & Demand, chapter 7.

Chamberlin, Monopolistic Competition, chapter 5, section 6; chapter 7, section 6; Appendices D, E.

Schumpeter, (see under Interest)

Berle and Means, The Modern Corporation, Book IV.

Gordon, R.A., “Enterprise, Profits and the Modern Corporation,” in “Explorations in Economics,” p. 306.

Suggested Reading:

Knight, Risk, Uncertainty and Profit.

VII. General:

Knight, The Ethics of Competition, Essay No. 11: “Economic Theory and Nationalism.”

Source: Harvard University Archives. Syllabi, Course Outlines and Reading Lists in Economics, 1895-2003. Box 2, Folder, “Syllabi, course outlines and reading lists in Economics, 1941-42.”

___________________________

1941-42
HARVARD UNIVERSITY
ECONOMICS 101
Final examination, 1942.

Write on FIVE questions altogether, four from Part A and one from Part B. Be careful to divide your time about evenly between the questions.

A
Write on FOUR questions from this group.

What conflicts and harmonies of interest do you find between labor and the rest of society in the matter of wages, technical progress and efficiency? Discuss the issues involved with some reference to the economic theory of the subject.
Describe and contrast the several most important types of interest theory which you have found in your reading, identifying them where possible with particular writers. State and defend your own theory of interest.
The rent of land has been variously described as a scarcity return, a differential return, a surplus and a monopoly income. Discuss the issues presented by each of these terms and give your own conclusions.
To what extent, if at all, do you believe it possible to explain profits in terms of the marginal productivity of the entrepreneurial factor? Discuss with some reference to issues raised in your reading on the subject of profits.
What various meanings have been or may be given to the concept of “marginal productivity,” and under what conditions would each meaning be relevant? Discuss the circumstances under which all factors may be remunerated according to their marginal products without deficit or surplus.

B
Write on FOUR questions from this group.

“Both prices and monopoly profits are necessarily increased by the presence of advertising.” Do you agree? Discuss critically.
“From this it will appear that the law of increasing or decreasing economy of large-scale production, while sufficiently distinct from that of increasing or diminishing returns to warrant a difference of name, is yet very much like it.” (From Carver’s Distribution of Wealth) Discuss, giving your own conclusions on this set of issues.
Discuss critically Knight’s essay on “Economic Theory and Nationalism” or any part or phase of it which interested you in particular.

Source: Harvard University Archives. Harvard University, Final examinations 1853-2001. Box 6, Papers Printed for Final Examinations: History, History of Religions,…, Economics, …, Military Science, Naval Science. June, 1942.

Image Source: Edward Chamberlin in Harvard Class Album, 1939.

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Economists Harvard Suggested Reading Syllabus Undergraduate

Harvard. Syllabus and final exam for National Income and its Distribution. Conrad, 1958

Post author By Irwin Collier
Post date 2019-12-05

For this post I have transcribed the syllabus with reading assignments together with the final exam questions for Alfred H. Conrad’s undergraduate semester course, “National Income and its Distribution,” taught at Harvard during the 1958-59 academic year. As utterly important as the national income accounts have proven themselves to be, the data from these accounts are generally just taken for granted by the overwhelming majority of economists and woe be the instructor who tries to introduce such material in more than one or two sessions in their macroeconomics course. But I have always liked the stuff and so this course enters the Economics in the Rear-view Mirror collection.

While I can recall having heard of his pioneering econometric work on American slavery with John R. Meyer in an American economic history course I took many decades ago at Yale, I really knew nothing about Conrad’s career, other work, or his personal life. The biographical data from the members’ survey of the American Economic Association are undoubtedly the truth, but not the whole truth, which is why I have provided the link to his New York Times obituary and a story about his wife, the poet Adrienne Rich. Suicide sadly cut his career short but I am happy to enter these few artifacts into the historical record in his memory.

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On Alfred H. Conrad and his wife, poet, Adrienne Rich

New York Times obituary for Alfred H. Conrad: October 20, 1970.

The Guardian article “Poet and Pioneer” by John O’Mahoney (15 June 2002) that provides a review of the work of Conrad’s wife, the poet Adrienne Rich, with a dozen paragraphs about their lives together.

_______________

American Economic Association
Member Biographic Entry, 1969

CONRAD, Alfred Haskell, academic; b. New York City, 1924; A.B., Harvard, 1947, M.A., 1949, Ph,D., 1954.

DOC. DIS. The Redistribution of Income and the Matrix Multiplier, 1953.

FIELDS 2ab, 3ab, Ic.

PUB. The Economics of Slavery and other studies in econometric history (with John R. Meyer), 1964; The Impact of Education and Research on Efficiency in CES Production Relations (with Murray Brown), 1967; Econometric Models and Development Planning, 1968.

RES. The Diffusion of Technological Innovations.

Asst. prof., Northwestern, 1955-56; asst. prof. econ., Harvard, high, 1956-59, mem. sr. research staff, Econ. Research Project, 1952-59, lectr. bus. adm., 1959-61, asso. prof. bus. adm., Grad. Sch., 1962-66; vis. prof., Netherlands Sch. Econ., 1961-62; prof. econs., City Coll., City U. of New York since 1966, exec. officer of Grad. Program since 1969.

Source: American Economic Association. Biographical Listings of Members. The American Economic Review, Vol. 59, No. 6, 1969. Handbook of the American Economic Association (Jan., 1970), p. 84.

_______________

Course Description

Economics 124. National Income and its Distribution

Half course (fall term). M., W., F., at 10. Assistant Professor Conrad.

Measurement of national income and income inequality; theories of distribution among factors and individuals; factor-shares and inequality in a general equilibrium explanation; inequality and growth in mature and in underdeveloped economies; government redistribution; testing the hypotheses.

Source: Official Register of Harvard University, Vol. LV, No. 24 (November 28, 1958), General Catalogue Issue, 1958-1959, p. 123.

_______________

Course Enrollment

[Economics] 124. National Income and its Distribution. Assistant Professor Conrad. Half course (Fall).

Total, 12: 3 Seniors, 7 Juniors, 1 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1958-59. Page 71.

_______________

Economics 124
NATIONAL INCOME AND ITS DISTRIBUTION
Fall, 1958

National Income and Social Accounting.
1. Introduction; conceptual framework for income accounting.

The definition and measurement of national income. Income inequality, growth, and ethical norms. The production accounts of the firm and the income accounts of the economy.

Readings:

Readings in the Theory of Income Distribution, Kuznets, “National Income,” pp. 3-33.
Ruggles and Ruggles, National Income Accounts and Income Analysis, Chs. 1-4, pp. 3-68.
Hicks, Hart, and Ford, Social Framework of the American Economy, Chs. 16, 17, pp. 209-234.

1. The construction of the national income accounts.

The problems of valuation and aggregation.

Readings:

Ruggles and Ruggles, Chs. 5-8, pp. 69-186.
U.S. Dept. of Commerce, National Income, 1954 Edition, pp. 30-60, 160-165.
Hicks, Hart, and Ford, Ch. 15, pp. 198-208.

1. Two special problems.

Maintaining capital intact.
The product of government.

Readings:

Hicks, Hart, and Ford, Ch. 10 and Appendix Note C, pp. 117-130, 296-300, and Ch. 13, pp. 173-185.

Reference:

Income and Wealth, Series I, ed. E. Lundberg, “Government Product and National Income” (Kuznets), pp. 178-245.

1. A review of aggregate income trends and analysis.

Readings:

Ruggles and Ruggles, Chs. 10-12, pp. 213-303.
Income and Wealth, Series II, ed. S. Kuznets, “Long-Term Changes in the National Income of the United States Since 1870” (Kuznets), pp. 29-241. This study should be read by the time we reach section 8, below—not later than November 14.

The Theory of Income Distribution.
1. Introduction; income distribution in economic analysis.

Readings:

Readings, J. M. Clark, “Distribution,” pp. 58-71.
M. A. Copeland, “Social and Economic Determinants of the Distribution of Income,” AER, March 1947, pp. 56-75.

1. The distribution of the product among the factors of production.

The classical descriptions and Marx.
The marginalists.
Market position and monopoly; the effectiveness of unions.
General equilibrium and employment theories.

Readings:

Ricardo, Principles of Political Economy, Chs. 4, 5, 6, pp. 88-127 (Sraffa edition).
Sweezy, Theory of Capitalist Development, Chs. 4, 5, pp. 56-95.
Hicks, Theory of Wages, Chs. 1-5, pp. 1-111.
The Impact of the Union (ed. Wright), Samuelson, Ch. 15, pp. 312-342, and Friedman, Ch. 10, pp. 204-234.
Readings, R.A. Gordon, “Enterprise, Profits, and the Modern Corporation,” pp. 558-570.
L. C. Reynolds, “Impact of Collective Bargaining on Wage Structure,” Theory of Wage Determination, ed. J. T. Dunlop, pp. 194-221.

Reference:

Dalton, The Inequality of Incomes, esp. Parts II and III.
Douglas, Theory of Wages, esp. Part I and Ch. 8.
Wootton, The Social Foundations of Wage Policy.
Readings in the Theory of Income Distribution.

1. The distribution of income among individuals.

The possession of skills and property.
Normal curves, Pareto’s Law, and chance.

Readings:

Studies in Income and Wealth, Volume XV, Garvy, “Inequality of Income; Causes and Measurement,” pp. 25-47.
A. D. Roy, “The Distribution of Earnings and of Individual Output,” Econ Journal, Sept. 1950, pp. 489-505.
A. D. Roy, “Some Thoughts on the Distribution of Earnings,” Oxford Econ Papers, 1951, pp. 135-

Reference:

Dalton, Part IV.

1. The data on functional and personal distribution of income in the U.S.

Readings:

D. G. Johnson, “Functional Distribution of Income in the U.S.,” RES, May 1954, pp. 175-183.
G. H. Moore, “Secular Changes in the Distribution of Income,” AER, Papers and Proceedings, May 1952, pp. 527-544.
E. F. Denison, “Income Types and the Size Distribution,” AER, Papers and Proceedings, May 1954, pp. 254-269.
S. Goldsmith, et al, “Size Distribution of Income since the Mid-Thirties,” RES, February 1954, pp. 1-32.
H. Miller, Income of the American People, Chs. 3, 8, 9, pp. 16-33, 97-123.

References:

U. S. Dept. of Commerce, Income Distribution in the United States, Washington, 1953.
Kuznets, Shares of Upper Income Groups in Income and Savings.
M. J. Bowman, “A Graphical Analysis of Personal Income Distribution in the United States,” Readings, pp. 72-99.

III. [No section title]

1. Income Inequality and Growth

Income, consumption and investment.
Technical change, capital formation, and income shares.
Income shares and industrial structure.

Readings:

Baumol, Economic Dynamics, Chs. 2, 3, pp. 11-35.
Duesenberry, “Income-Consumption Relations and their Implications,” in Income, Employment, and Public Policy, pp. 54-81.
Kurihara, “Distribution, Employment, and Secular Growth,” in Post-Keynesian Economics, Ch. 10, pp 251-273.
Kuznets, “Economic Growth and Income Inequality,” AER, March 1955, pp. 1-28.
Hicks, Theory of Wages, Ch. 6, pp. 112-135.
E. H. Phelps-Brown, “The Long-Term Movement of Real Wages,” in Theory of Wage Determination, ed. J. T. Dunlop, pp. 48-65.

Reference:

F. A. Hanna, “Contribution of Manufacturing Wages to Regional Differences in Per-Capita Income,” RES, February 1951.

1. Inflation and Income Inequality.

Readings:

Keynes, “Social Consequences of Changes in the Value of Money,” Essays in Persuasion, pp. 80-104.
Bach and Ando, “Redistributional Effects of Inflation,” RES, February 1957, pp. 1-13.

Reference:

D. Seers, Changes in the Cost of Living and the Distribution of Income, Oxford, 1949.
Joint Committee on the Economic Report, Low-Income Families and Economic Stability, 1949.

1. The State and the Distribution.

Who pays the taxes?
Redistribution through public expenditures.

Readings:

Conrad, “Redistribution through Government Budgets in the U.S.,” in Income Redistribution and Public Policy, pp. 178-267.
Conrad, “On the Calculation of Tax Burdens,” Economica, November 1955, pp. 342-348.

1. Conclusion.

Readings:

Kuznets, in Studies in Income and Wealth, Volume XV, pp. 203-213.
Tinbergen, “Welfare Economics and Income Distribution,” AER, Papers and Proceedings, May 1957, pp. 490-503.

Reference:

Lampman, “Recent Thoughts on Egalitarianism,” QJE, May 1957, pp. 234-266.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 7. Folder “Economics, 1958-1959 (1 of 2)”.

_______________

HARVARD UNIVERSITY
ECONOMICS 124
FINAL EXAMINATION
January 16, 1959

Answer Question 1 and any four others.

(a) or (b):

(a) The Council of Economic Advisers, in their report to the President in January, 1953, stated:

“…the preferable general formula—once wages, prices and profits are in a workable relationship—is for money wages to increase with productivity trends in the whole economy.”

Discuss this suggestion in the light of your reading period assignment, bringing in relevant recent data on the effect of inflation upon factor shares to illustrate your argument.

(b) Describe briefly the law of proportional effect and discuss its application to the income generating process. Be careful to consider the economic relevance of the conditions and results of the statistical model.

Describe the tendencies toward a falling rate of profit in (1) the “classical”, (2) the Marxian, and (3) neo-classical description of capital accumulation. How would the possibility of technological change affect this tendency?
Who are the poor in the post-World War II United States?
You are hired as a technical expert on national income accounts to advise a country in which economists, among other basic resources, are in short supply. In detail, discuss the statistics you will need to answer the following questions: (1) who saves? (2) what has been the trend the savings/income ratio?
“One might thus assume a long swing in the inequality characterizing the secular income structure: widening in the early phases of economic growth when the transition from the pre-industrial to the industrial civilization was most rapid; becoming stabilized for awhile; and then narrowing in the later phases.” Write a concise explanation, in outline form if you like, for the declining inequality suggested here.
How would you reconcile the marginal productivity theory of wages (as presented, say, by Hicks) with the collective bargaining explanation of Lloyd Reynolds or the inertia-displacement theory of Phelps Brown? You may include in your argument any other readings that seem to be relevant.

Source: Harvard University Archives. Social Sciences. Final Examinations, January 1959. (HUC7000.28, 122 of 284). Papers Printed for Final Examinations. History, Government, Economics, …, Naval Science, Air Science. January, 1959.

Image Source: Simon Guggenheim Memorial Foundation. Fellows page for Alfred Haskell Conrad.

Tags Conrad, ConradAH

Columbia Suggested Reading Syllabus

Columbia. New Seminar. Outline with readings, Economic Theory and Change. Mitchell and Ginzberg, 1937

Post author By Irwin Collier
Post date 2019-12-04

Wesley Clair Mitchell left voluminous course lecture notes found with his other papers at the Columbia University Archives. On the whole his notes are very neatly written by hand so that any typed pages among his lecture notes immediately catch the attention of the tired eyes of this archival junkie working the boxes. My presumption was that this typed material was probably someone else’s work and the pencilled “Eli Ginzberg” on one of the course outlines provided an obvious lead. Ginzberg received his Ph.D. from Columbia in 1934 and held the rank of Lecturer in economics at Columbia at the time of this course. Chapter 2 (“The Education of an Economist”) in his book The Skeptical Economist (1987) provides the necessary back-story for the course materials transcribed for this post.

From Mitchell’s notes to the first session from the Winter session of the course in 1937-38, we learn that a dress rehearsal was held as a seminar during the Spring 1937 course for which we have the following list of participants. Definitely worth noting is that William Vickrey and Anna Jacobson Schwartz participated in that preliminary seminar.

____________________

Handwritten: Economics Seminar. March-May 1937
(Signatures of student participants. Note: “not complete”)

William Vickrey, Ruth Cleve [?], Pauline Arkus, Anna Jacobson [Note: this is Milton Friedman’s collaborator Anna Schwartz], [First name illegible] Louise Boggen, Konrad Bekker, Mark S. Massel, Eileen M. Conly, John I. Griffin, Alan Pope, Bela Gold, Burnham P. Beckwith, Herman Zap, Moore

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “3-5/37 A”.

____________________

Origin of the seminar

“In 1932-1933, a group of us brought about the first change in the curriculum: We persuaded Mitchell, Clark, and Angell to offer a seminar on economic theory. In the mid-1930s, when I had begun to teach as an assistant in the School of Business, I was instrumental in establishing several further reforms, largely through persuading its dean, Roswell C. McCrea, who also served as chairman of the Economics Department, to do the following: to reduce the number of subjects on which doctoral candidates were examined from seven to six, to invite Milton Friedman to give a course on ‘Neoclassical Economics,’ to have Wesley Mitchell substitute for his lectures on ‘Current Types of Economic Theory’ a new seminar on ‘Economic Theory and Economic Change,’ in which I would serve as his assistant. Furthermore, McCrea obtained the consent of the Committee on Instruction in the School of Business for me to offer a new course on ‘Economics and Group Behavior,’ which was cross-listed in the Department of Economics’ offerings. This was probably the first course in what later became known as ‘human resources.’”

Source: Eli Ginzberg, The Skeptical Economist (Westview Press, 1987), p. 16.

____________________

Secular and Structural Changes in a Modern Economy
From Mitchell’s handwritten notes for the first meeting
Sept. 28, 1937

An experimental course. 1^st time given, aside from a brief trial run in seminar last spring.
Title not felicitous: perhaps it will prove not very accurate. Explanation of view[?] called for.

Past 2 generations have seen vigorous development of three or four different approaches to study of economic behavior.

Economic theory of several types ranging from mathematical economics on one flank to institutional economics on other flank.

Economic history of recent and more remote past

Economic statistics have multiplied in the leading commercial nations and technique of using them has been improved.

Relation of these approaches to one another

Difficult to find investigation in which one approach only is used.

Economic theorist seldom disregards wholly the historical setting of his problem, or quantitative importance of its components. Whether they recognize it or not, these factors count in their thinking.

Economic historians and statisticians cannot dispense wholly with qualitative analysis.

Their selection and arrangement of materials imply classification: they take materials that are pertinent and pass on others that are not. What is pertinent in their judgment is decided whether they realize it or not, by the organization of their ideas.

Can find many investigations in which an attempt is made to use all three approaches

Schmoller’s Allgemeine Vokswirtschaftslehre, Webbs’ History of British T. U.‘s and Industrial Democracy.Marshall’s Industry and Trade. Cassel’s Social Economics. Keynes‘ Theory of Money, Pigou’s Industrial Fluctuations, Sombart’s Moderne Kapitalismus. A brilliant older example Marx’s Capital; indeed Wealth of Nations except that Adam Smith had a poor opinion of ‘political arithmetic’.

But, to a large extent, the theoretical, historical, and statistical approaches have been developed by three groups of workers

Each of whom is especially adept in one approach and makes incidental rather than systematic and thorough use of the other approaches

And there are

Economic theorists
Economic historians
Economic statisticians

who seem not to realize the extent to which their thinking is influenced by elements derived from the other approaches.

In general we cannot claim that the three approaches have been perfectly blended

Schmoller a particularly good example because he tried as hard to use all three. He knew certain phases of economic history well: but not all the phases on which he touched. He was a slovenly theorist and a gullible statistician.

Hence one of the great tasks before the generation of economists to whom members of this class belong is to utilize the knowledge of economic processes provided by the 3 approaches more effectively than their predecessors have done.

Primary aim of the course is to aid in that effort.

Method is to take up certain economic processes that have been studied for both the theoretical angles and for the historical or statistical angles or for both and to inquire whether the realistic approaches call for modification of the theoretical analyses: quite as much

Whether the theoretical approach calls for modification of the realistic investigations.

How much we can get out of this experiment for the improvement of our own investigations remains to be seen.

Will depend not only upon the industry with which we are ready to devote to study of the materials assigned but also upon the ability to think we are able to develop.

Mode of conducting course

Dr. G. and I will select problems, at least at beginning, and assign readings. Members of class will present reports to the class Written or oral. Discussion in class.

As work goes on we may well turn up problems of which Dr. Ginzberg and I have not thought in advance.

Interest of the meetings and value of the work are necessarily conditioned by the clarity of the reports made by the members of the group.

Please try hard to get your notes[?] well organized and lucidly presented. So well presented that other members who listen once only can understand and expect questions of others as you present reports.

So much for the general aims of the course and how it will be conducted. Begin work with an attempt to characterize broadly the conceptions of economic change that are held by investigators.

Or rather, what types of movements occur in economic life.

1^st assignment

Let each member of class consult one or more of the statistical treatises that deal with time-series analysis to find out what types of movements are recognized.

What is basis of classification used? In what are these movements all alike? In what do the types differ? Are all of these types recognized by economic theory? For what types do economic theorists offer explanations? What relation if any do the movements of the statisticians bear to the ‘disturbing circumstances’ of economic theory and to the movements by which economic equilibrium is restored after a disturbance, and maintained in the absence of further disturbances (equilibrating movements)? Are the criteria used by economic statisticians in classifying movement like those used by time-series analysts? Can we expect inductive testing of economic laws?

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “9/28/37 A”.

____________________

Handwritten draft of course announcement

December 19, 1936
Announced for 1936-37

Cumulative Changes in Economic Processes

A critical survey of realistic studies of population growth, natural resources, occupations, capacity to produce, standards of living, national income and its distribution, ownership of property, business organization and methods, labor conditions, capital accumulation, the role played by government in economic affairs, and national planning, accompanied by study of the relations of the findings to economic theory.

Readings, reports and class discussions. Limited to twenty students. Admission by permission of the instructor.

2 hours a week, both semesters.
4-6 Thursdays.

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “12/19/36 A”.

____________________

Course Announcement
1937-38

Economics 201-202—Secular and structural changes in a modern economy. 3 points each session. Professor Mitchell with the assistance of Dr. Ginzberg.

Tu., 4:10-6. 102 Low.

The theoretical, institutional, historical, and statistical approaches to the study of economic changes. Critical survey of investigations into recent changes in important factors. Relations of the findings to current economic theory.
Readings, reports, and class discussions.
Admission only with permission of the instructor.

Source: Columbia University. Bulletin of Information (July 23, 1938). Courses offered by the Faculty of Political Science for the Winter and Spring Sessions, 1937-1938, p. 30.

____________________

Course Announcement
1938-39

Economics 201-202—Economic changes and economic theory. 3 points each session. Professor Mitchell assisted by Dr. Ginzberg.

Tu., 4:10-6. 502 Business.

Admission only with permission of the instructor.

Source: Columbia University. Bulletin of Information (July 23, 1938). Courses offered by the Faculty of Political Science for the Winter and Spring Sessions, 1938-1939, p. 31.

____________________

Jan. 14, 1937

TENTATIVE OUTLINE FOR COURSE ON CUMULATIVE CHANGES IN ECONOMIC PROCESSES

Introduction: The theoretical, the historical, and the statistical approaches to the study of Economic Changes.

The concepts of economic ‘statics’ and economic ‘dynamics’ in the work of J. S. Mill, Marx, J. B. Clark, Alfred Marshall, Gustav Cassel.
What ‘dynamic’ problems are treated by these writers? How far does the treatment build upon ‘static’ theory?
Theoretical treatment of cumulative changes in institutions by Marx, Veblen and Commons.
Historical accounts of economic changes.
What ‘explanations’ are given of significant changes by such writers as Ashley, Schmoller, the Webbs, Sombart, Clapham?
Time-series analysis
Types of changes commonly recognized: seasonal variations, random perturbations, cyclical fluctuations, secular trends.
The problem of ‘long cycles’. Kondratieff, Simiand, Kuznets, Burns.
The problem of structural changes.
What types of these changes have been explained theoretically?
What relations have these explanations to economic theory at large?
What relations exist between secular, cyclical, random, seasonal and structural changes?
Relations among the three approaches
The injunction to combine causal analysis with statistical description.
Dangers of statistical work not guided by theoretical concepts.
Dangers of theoretical speculation not checked by statistical observation
Difficulties in fusing the two approaches
Causal analysis of problems in which many variables are interrelated, and in which effects become causes in a process of cumulative change
The theoretical uses of history.
The historical applications of theory.
Statistics and history.

Classification of investigations available for the study of economic changes

Studies of recognized types of economic changes
The abundant literature upon business cycles
A few studies of seasonal variations
A few studies of secular trends and of long cycles
No systematic literature upon random perturbations; but many casual references in books on business cycles.
Many studies of structural changes, particularly those produced by legislations—for example, the Independent Treasury system, tariff acts, etc. Also numberless discussions under next heading.
Studies of changes in single economic factors
A vast literature is available upon such subjects as
Growth of population and its geographical distribution
Developments of the arts of production: histories of industries
Natural resources of different districts; their exploitation; problems of conservation
Changes in business organization: rise of corporations, different forms of corporate organization, banking systems; histories of particular business enterprises, and so on.
Organization of labor
Shifting importance of agriculture, transportation, manufactures, trade, finance in the national economy.
Changes in economic relations among nations:: commercial policies, international investments, shifts from debtor to creditor position.
Changes in the system of prices: their relations to monetary laws and practices; the relative importance of competitive versus regulated prices, private versus public regulation; the degree of flexibility in prices
Changes in standards of living
Economic changes during certain periods
Most of the books on economic history might be listed here, in so far as they do not belong under previous heading.
Also a few studies primarily statistical in character, such as
Recent Economic changes
Recent Social Trends
Social England—Booth’s survey and the recent many-volume study.
Mills’ Economic Tendencies in the U.S.
Work to be undertaken by the members of the course
To read critically and report upon significant studies of recent economic changes.
Avoid so far as feasible the subjects that are treated elaborately in other courses, for example money and banking, labor problems, business cycles, public utilities.
Stress the effort to grasp the inter-relations among the changes studied.
In each case consider in how far the changes are or can be ‘explained’, and what relation these explanations have or should have to economic ‘theory’.

Among the books to be consider for assignment the following are possibilities:

W. S. Thompson and P. K. Whelfton, Population Trends in the U.S. N.Y. 1933
R. D. McKenzie, The Metropolitan Community, N.Y., 1933
Carter Goodrich and others, Migration and Economic Opportunity, Philadelphia, 1936
Wyand, Economics of Consumption, N.Y., 1937
C. C. Chapman, Development of American Business and Banking Thought, 1913-1936. New York, 1937
Twentieth Century Fund, Big Business: Its Growth and its Place. N.Y., 1937
A. A. Berle and G. C. Means, The Modern Corporation and Private Property, N.Y., 1932
A. R. Burns, The Decline of Competition, N.Y., 1936
R. C. Epstein, Industrial Profits in the U.S., N.Y., 1934
Harry Jerome, Mechanization in Industry, N.Y., 1934
F. C. Mills, Prices in Recession and Recovery, N.Y., 1936
‘The Brookings Study’, Washington, 1934 and 1935

America’s Capacity to Produce
America’s Capacity to Consume
The Formation of Capital
Income and Economic Progress

H. G. Moulton and Associates, The American Transportation Problem, Washington, 1933
National Resources Board, Report December 1, 1934, Washington 1934.
W. I. King, The National Income and Its Purchasing Power, N.Y., 1930
(S. Kuznets), National Income, 1929-32, Washington, 1934
Our Natural Resources and their Conservation, A symposium edited by A. E. Parkins and J.R. Whitaker. N.Y., John Wiley & Sons, 1936
A. F. Burns, Production Trends in the U.S. Since 1870. N.Y. 1934. See review by F. A. Fetter JPE Feb. 1937
W. Sombart, Hochkapitalismus
W. H. Lough, High-Level Consumption, N.Y., 1935
W. V. Bingham. Aptitudes and Aptitude Testing, N.Y., 1937.

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “1/14/37 A”.

____________________

[Handwritten note at top of page: “Eli Ginzberg Jan 18 1937”]

CUMULATIVE CHANGES IN A MODERN ECONOMY

Introduction

The Method of the Classicists

Ricardo—Chapter I ff.
Marshall—Book V

Supplementary:

Knight—Introduction to Risk, Uncertainty, and Profit—2d ed.
Ibid—The Ethics of Competition and Other Essays
Robbins—Nature and Significance of Economic Science
Clark, J. M. Preface to Social Economics (the essay on “Statics and Dynamics”)
Moore, H.L.—
Hotelling, H.—

Historical-Statistical Approach

(a) Case study of: Industrial Revolution

Toynbee
Hammonds
Webbs
Lipson
Clapham

Supplementary: see

Mantoux—
Nef—in Economic History Review.
Reconstructions, in Economic History Review

(b) Case study of: Profits and Wages in the United States

1. Profits

Epstein
Patten
Mills

Supplementary:

Knight—Encyclopedia of the Social Sciences—article on Profits
Knight—Encyclopedia of the Social Sciences—article on Risk, Uncertainty, and Profit
Reports of the S.E.C.
Senate Committee on Foreign Bonds

1. Wages

Douglas—Recent Economic Changes
Wolman, L.—R.E.C. and 3 Bulletins Bureau of Labor Statistics

Supplementary:

Douglas—Theory of Wages
Beveridge—Unemployment
Clay, H.—Essays in Industrial Relations

Institutional-Theoretical

Marx—Communist Manifesto
Ibid.—Capital—vol. I
Veblen—Theory of Business Enterprise
Mitchell—Business Cycles
Clark, J.M.—Economics of Overhead Costs

Supplementary:

Souter-Prolegomena to Relativity Economics
Hamilton—Encyclopedia of the Social sciences Article on “Competition”
Knight—Ethics of Competition, etc.
Clark, J. M.—Preface to Social Economics
American Economic Association—Round Tables

Conclusion: Methodology

Cohen—Reason and Nature
Weber, Max—Wissenschaftslehre
Whitehead—Adventure in Ideas
Simkhovitch—Approaches
Sombart—Drei Nationalökomien
Carnap—Unity of Science
MacIver—Harvard Lecture

PART I—Cumulative Changes in Economic Institutions

(General aim to study changes in degree and kind in the institutional setting explicit and implicit in neo-classicists; to gauge interrelations in these changes).

The Large Corporation

Berle and Means—The Modern Corporation
Twentieth Century Fund: Big Business
A. R. Burns—Decline of Competition

Supplementary:

Commons—Legal Foundations of Capitalism
Holmes, O. W.—Representative Opinion
Brandeis, L.—Social and Economic Views
Hamilton, W.—Industries affected with the Public Interest
Clark, J. M.—Social Control of Business
Handler—Trade Regulation

The Credit System

Annual Reports of Federal Reserve Board
Moulton—The Formation of Capital
Brookings—The Recovery of Business
Hardy—Credit Policies of the F. R. S.
Keynes—The General Theory of Employment, Interest, and Money.
Angell—The Behavior of Money
Reports of Senate Sub-committee on Banking
Reports of Senate Committee on S. E. C.
Reports of Senate Committee on Foreign Bonds
Clark, J. M.—Economic of Planning Public Works
Chapman, C. C.—American Business and Banking Thought
Currie, L.—The Supply of Money

Supplementary:

Articles in Economic Journal, Q.J.E., S.[sic, J.?] of P. E.

The Problem of Consumption

(a) Numbers

Thompson and Whelfton—Population Trend
McKenzie—Metropolitan Community
Goodrich—Migration and Economic Opportunity
Recent Social Trends

(b) Psychology

Veblen—The Theory of the Leisure Class
Hearings on Pure Foods Drug Act
Reports of Federal Trade Commission
Bulletins of Consumers Research
Schlink—
Chase, Stuart—

Brookings—America’s Capacity to Consumer
Brookings—Income and Economic Progress
Wyand—Economics of Consumption
Recent Social Trends
Seligman—Installment Selling
Keynes—Appendix to General Theory

PART II—Cumulative Changes in the Short-Run

(Contrast with equilibrium approach of neo-classicists).

Case Study: Post-War Expansion

The automobile: building and new industries

(a) Source of capital
(b) Entrepreneurs’ expectations
(c) Exploitation of demand

Secondary Results: Structural Changes

(a) Relocation of Industry
(b) Urbanization—suburbs
(c) Standard of living—mores—instalment credit
(d) Incidence of Transportation
(e) Complex of Industry—of steel, glass, gasoline

Literature

Recent Economic Changes
Recent Social Trends
Goodrich et al—
Epstein, R.—Automobile Industry
Facts and Figures—Automobile Industry-1919 ff.
Clark, J. M.—Strategic Factors in Business Cycles
Warburton, C.—In Mitchell volume
Moulton et al—The American Transportation Problem
National Resources Board—Report 12/1/34
Burns, A. F.—Production Trends
Trade Journals—Steel, distribution, etc.
Annalist

PART III: The Interrelations of Economic Institutions and Market Phenomena

How do the existing legal, banking, and distributive institutions help to condition—and how are they conditioned by the following?

1. Capital accumulation
2. Profitability of industry
3. National income—wages—agriculture
4. Behavior of prices and costs

Literature

Mills—Economic Tendencies
Mills—Prices in Recession and Recovery
King—National Income and its Purchasing Power
Kuznets, S.—National Income. 1929-32
Mitchell—Business Cycles
Clark, J. M.—Strategic Factors in Business Cycles
Keynes, J. M.—General Theory of Employment
Brookings—Recovery of Business
Brookings—N. R. A.

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “1/18/37 A”.

____________________

OUTLINE
Secular and Structural Changes in a Modern Economy

[Handwritten: Eli Ginzberg]

February 23, 1937

* * * * * * * * *

OUTLINE
Secular and Structural Changes in a Modern Economy.

INTRODUCTION: The theoretical, the historical, the institutional, and the statistical approaches to the study of economic changes.

“Statics and Dynamics” in the works of:
J. S. Mill, J. B. Clark, Alfred Marshall, Gustav Cassel.
“Explanation” of economic changes by:
Ashley, Schmoller, Webbs, Sombart, Clapham
Cumulative changes in institutions:
Marx, Veblen, Commons.
Time-Series Analysis: seasonal variations, cyclical fluctuations, secular trends and random perturbations. “Long cycles”:
Kondratieff, Simiand, Kuznets, Burns.

Summary: The limitations of isolated techniques and the difficulties of fusion

Theory and statistics; history and theory; statistics and theory
Multiple variables in a process of cumulative change.

* * * * * * * * *

Secular changes in the industrial unit, the financial system, the organization of labor, and the ideology of the public during the periods:

1870-1890
1890-1914
1914-1937

The Industrial Unit: The changing pattern of competition
1. Economic aspects
  1. Adjustment to technology and to a national market
  2. Location of plant and transportation
  3. Integration: to raw materials; to distribution; to finance
2. Law and Social Control
  1. Trademarks and Patents
  2. Governmental Regulation: License, taxes, etc.
  3. Trade Associations
  4. Management vs. Ownership

*Emphasis to be placed upon changing relative positions of the industrial unit to the total economy; upon the influence of size to competitive behavior; upon economic implications of individual vs. corporate forms.

Financial System—The rôle of money in a modern economy.
1. The Changing Structure of Banking
  1. Loans and investments
  2. Active money
2. The Problems of Debt and Liquidity
  1. Private vs. Public Debt
  2. Collateral for private debt
  3. Insurance—private and public
3. Implications: Economic and Social
  1. Economic: The interrelations of interest rates, savings, and the formation of capital.
  2. Social: The political control over the creation of money and the use of this control for the eradication of the business cycle.

Labor: not solely a commodity
1. Unionization
  1. Members
  2. Objectives
  3. Potential threats and consequences
2. Supply
  1. Changes in requirements of skill
  2. The relative shrinkage in agriculture
  3. The additions from women of the middle class
  4. Mobility
3. Rôle of the Government
  1. Free Services
  2. Enforcement of minimum standards
  3. Relief payments and work creation
  4. Re Bargaining between Labor and Capital

*Emphasis: Implication of these changes for

1. Rate of wages
2. Total wages—cf. monopoly analysis
3. Class-struggle analysis

The Changing Ideology: The influence of money making upon the attitudes of people—
Upon their behavior in
1. Spending: price vs. quality; advertising; women as buyers
2. Accumulating: liquid vs. fixed assets; speculation; insurance; goods vs. family
3. Playing: The esoteric vs. the stable; Wanderlust; the shift from church and home to club and movie.
4. Occupational adjustment: sensitivity to monetary stimuli; civil service; money and the arts.

Conclusions: An approach to isolating and treating the strategi9c factors in a dynamic economy—

1. The emergence of profitability
2. The cumulative process and the breakdown
3. The absorption of technological developments and the tendency towards retardation of growth.
4. The closely allied patterns of change; their interaction with the economic. 1. Political/2. Legal/3. Ideological

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “2/23/37 A”.

____________________

[Pencil: “April 1937”]

SECULAR AND STRUCTURAL CHANGES
IN A
MODERN ECONOMY

OUTLINE

1. The Study of Economic Change
2. Population
3. Migration and Location
4. The Business Unit
5. Psychology and Social Classes
6. Technology
7. The Legal Framework
8. Government
9. Dynamics of the Market
10. Cumulative Factors

I

THE STUDY OF ECONOMIC CHANGE

Introduction
The Classicists and the Institutionalists

*Preface to First and 8^th editions of Marshall’s Principles and Bk. V—Chapter XV
*Marx—Communist Manifesto—Part I

1. The Classicists

J. S. Mill—Principles of Political Economy—Bk IV
J. B. Clark—Essentials of Economic Theory—Preface, Chapters XII, XIII, XIV, XV, and XXX
Marshall—Principles—Bk I—Chap. III; Bk V—Chaps. I, II, III, V, and XV
Cassel—Social Economy—Bk I, Chaps. I #5,6; Bk. IV

1. The Institutionalists

Marx—Communist Manifesto—Part I
Veblen—Business Enterprise—Chpas. II, VII, IX, X
Commons—Legal Foundations of Capitalism—Chapters I, II, III, VII, IX, vi

The Historians and the Statisticians

*Heckscher, Eli—“Aspects of Economic History” in Essays in Honor of Gustav Cassel
*Mitchell—“Business Cycles”—Encyclopedia of the Social Sciences

1. The Historians

Webbs—History of Trade Unionism—Chapters II, III
Clapham—Economic History of Modern Britain—Vol I, Chapter XIV
Sombart—Der Moderne Kapitalismus—Vol. III, Part I—Chapters 22-25

1. The Statisticians

Simiand—La Crise Mondiale—pages 1-14; pages 114-35
Burns, A. F.—Production Trends—Foreword; Chapters III;ii, iii; IV: iv; V:v, vi.
Mitchell—“Business Cycles”—Encyclopedia of the Social Sciences
Kuznets—Seasonal Variations in Industry and Trade—Chapter I, Concluding Notes—pp. 355 ff.

Theory, History, and Statistics
*J. M. Clark—“Statics and Dynamics” in Preface to Social Economy
*F. H. Knight—New Introduction to Risk, Uncertainty, and Profit
*W. C. Mitchell—“Quantitative Measurement” in Backward Art of Spending Money and Other Essays

1. Cohen and Nagel—Introduction to Logic and Scientific Method Bk II: Chaps. X, XI, XVI, XVII, XIX sec. 3
2. Robbins—Nature and Significance of Economic Science. Chapters II 4,5; III 4,5; IV; VI 5,6
3. J. M. Clark—“Socializing Theoretical Economics” in Preface to Social Economics

II

POPULATION

The Data, Method, and Deductions about population in economic theory
*Malthus—Population—Chapters I, II
*Marshall—Bk IV, Chapters IV, V
1. Ricardo—Principles II, V, XXXII
2. J. S. Mill—Principles—Chapter X, 2, 3
3. Pigou—Economics of Welfare—Part I, chapters IX, X
The Contemporary Data, Methods, Deductions as to Trends
*“Population”—Encyclopedia of Social Sciences
1. Thompson and Whelpton—Population Trends in U. S.—Chapters I: pp. 2267;257-61;288-91; IX, X, and XI
2. Carr-Saunders—World Population (1936)—Chapters I, II, XVI, XVII, XXII, Note on Overpopulation
3. Kucyznski—Births and Death, Vol I. Chaps. I, II, III, IV; II. Chaps. I, VI
The Economic Implications of the Population Problem
*Myrdal—“Industrialization and Population” in Essays in Honor of Gustav Cassel
1. On Unemployment
  Beveridge—Unemployment—Chapter XVII
2. On Imperialism
  W. S. Thompson—Danger Spots in World Politics—Chapters X, XII, XIII, XIV
3. On Consumption
  Lynd—Middletown—Chapters V, XI
  J. M. Keynes. Economic Consequences of a Declining Population. Eugenics Review, April 1937, vol. XXIX, 13-17.

III

MIGRATION AND LOCATION OF PEOPLE AND INDUSTRY

*Marshall—Principles—pp. 199-203, Book IV—Chapter X, Appendix A-#13
*Weber, A.—Theory of Location of Industries—

Editor’s Introduction
Author’s Introduction
Chapters I, VII

*Semple—American History, its Geographic Conditions—Chapters XV, XVI, XVII

1. Goodrich—Migration and Economic Opportunity—Introduction: Chapters I, VI, VII, IX, XII
2. Mackenzie—The Metropolitan Community—Chapters I, III, V, VI, XII, XVII, XXIII

IV

THE BUSINESS UNIT

*Marshall—Principles—Bk IV—Chapter XII
*Twentieth Century Fund—Big Business—Summary

1. Distribution of the Working Population

The National Income in the United States (1929-35). Department of Commerce

1. The Problem of Control: Private

Berle and Means—Modern Corporation and Private Property, Bks I, VI
Twentieth Century Fund—Big Business Summary, Chaps. I, VIII
Laidler—Concentration of Control in American Industry, Parts I, VI.

1. The Problem of Control: Public

Jones and Bingham—Principles of Public Utilities—Chapters I, II, and XII
Moulton Associates—American Transportation Problem—Report of Committee—Chapters I, II, XII, XXI, XXIV, XXV, XXX, XXXI

1. Planning

Parkins and Whitaker—Our Natural Resources and their Concentration—Chapters I, II, IX, X, XI, XVI, XVIII
National Resources Board—1934—Part I—Sec. I, Sec. V.

V

PSYCHOLOGY AND SOCIAL CLASSES

*Marshall—Principles—Bk I—Chapter II
*Weber—General Economic History—Chapter XXX

1. The Spirit of the Capitalist

M. Weber—The Protestant Ethic—Foreword, Introduction, Chapters II, III, V

1. Modern Psychology and Aggression

Abrahams, K.—Selected Essays on Psycho-Analysis—Chapters XXIII, XXIV, XXV
Horney, K.—The Neurotic Personality of Our Times—Chapters [blank]
Mead, M.—Competition and Cooperation in Primitive Societies. Interpretive Statement.

1. The American Scene

Veblen—Absentee Ownership—chapters VI, VII I, ii, iii
Parker—The Casual Laborer and Other Essays—Recent Social Trends—Chapter VIII
Taussig and Joslyn—American Business Leaders—Chapters X, XI, XVI, XVII, XIX, XX

VI

TECHNOLOGY

*Marshall—Principles—Bk IV—Chapter IX
*Veblen—Theory of Business Enterprise—Chapter IX

1. America’s Capacity to Produce—Introduction, Chapters VI, XIV, XV, XVI, XIX, XX

Jerome—Mechanization in Industry—Introduction, Summary, Chapters III, IV

1. –Recent Social Trends—Volume I—Chapter III

Weintraub and Posner—Technological Tendencies and their Social Implications
Jerome—Mechanization—Chapters IX, X

VII

THE LEGAL FRAMEWORK

*J. S. Mill—Principles of Political Economy—Bk II—Chapter II
*Veblen—Theory of Business Enterprise—Chapter VIII

1. Commons—Legal Foundations of Capitalism. Chaps. I, II, III, VII, IX
2. Handler—Trade Regulation, Chapters I, II
3. Bonbright—The Valuation of Property—Chapters I, II, III, IV, V, XXX, XXXII

VIII

THE GOVERNMENT

*J. S. Mill—Principles of Political Economy—Bk V—Chapter XI
*H. Laski—The State—Chapter IV

1. Re Taxes

Shoup—Facing the Tax Burden—Chaps 2, 3, 6, 7, 8
Recent Social Trends—Volume II—Chapters XXV, XXVI

1. Re Banking

Willis—Central Banking—Part I, Chapters XVI, XVII, XVIII, XXVI
Hardy—Credit Policies of the Federal Reserve System—Part I

1. Re Labor

Commons and Associates—History of Labor in the U.S.

Volume III, Section I, Chapters XI, XII, Labor legislation
Volume IV, Chapters I, II, XVI, XXXII, XXXVIII, XLIV, XLV

Epstein—Insecurity—Parts I, X, XI

IX

DYNAMICS OF THE MARKET

*Marshall—Principles—Book V
*J. M. Clark—Economics of Overhead Costs—Chapters XXIII, XXIV

1. Production: 1922-36

Mills—Economic Tendencies—Chapters VI, X

1. Prices: 1922-36

Mills—Economic Tendencies—Chapter VII
Prices in Recession and Recovery—Chapters I, III, V, VI, IX

1. Wages: 1922-36

Douglas—Real Wages in the United States—Chapters XXII, XXVI, XXX, XXXI
Recent Economic Changes—Volume II—Chapter VI
Wolman—N.B.E.R. Bulletins #46, 54, 63

1. Profits: 1922-36

Epstein—Industrial Profits in the United States—Introduction, Book I, Book IV

1. Money: 1922-36

Currie—The Supply and Control of Money in the United States—Chapter III
Fed. Res. Board—Annual Reports. 1934, 1935, 1936

X

CUMULATIVE FACTORS

*Marshall—Principles—Book VI—Chapters XI, XII, XIII
*J. M. Clark—Strategic Factors in Business Cycles—Parts I and VI

1. The War, Changing Attitudes, and the Economy
2. The Automobile and the Economy
3. The Creation and Destruction of Bank Deposits and the Economy

Source: Columbia University Archives. Papers of Wesley Clair Mitchell. Box 3, Folder “4/?/37 A”.

Image Source: From the cover of Eli Ginzberg’s book The Eye of Illusion (Transactions Publishers, 1993).

Tags Angell, ClarkJM, Friedman, Ginzberg, McCrea, Mitchell, Schwartz, Vickrey

Berkeley Bibliography Gender Socialism Suggested Reading Syllabus

Berkeley. References for contemporary theories of social reform. Peixotto, 1906

Post author By Irwin Collier
Post date 2019-11-20

The topics and references for the course “Contemporary Theories of Social Reform” taught by Jessica B. Peixotto in the economics department of the University of California (Berkeley) in 1906 come from that early era when sociology and social policy were still established fields within economics departments. Peixotto was the second woman to have been awarded a Ph.D. at the University of California as well as to have become the first woman to attain the rank of full-professor there. Two short biographies have been included in this post.

The printed syllabus to her course runs 29 pages and the entire list of topics and references that make up the syllabus have been transcribed (OCR + copy/paste) for this post. I have corrected many typos I have found, but I’ll warn users that while I have tried to keep new typos from adding to the noise, I am sure that many typos remain, especially from the original typesetting. Caveat lector!

____________________

Jessica Blanche Peixotto, Economics: Berkeley
1864-1941
Professor of Social Economics, Emeritus

Jessica Blanche Peixotto, born in New York, October 9, 1864, essentially belonged to California–to both the State and the University. She came to the state in her early childhood, and her connection with the University lasted from her enrollment in 1891 until her death, October 19, 1941, a full fifty years. Graduated in 1894, awarded the degree of Ph.D. in 1900 (the second woman to receive this distinction), made a member of the teaching staff in 1904, in 1918 given the full rank of professor (the first woman thus honored), in 1936 she received the honorary degree of Doctor of Laws.

Miss Peixotto’s career covered three fields. As a writer she published French Revolution and Modern French Socialism (1901), Getting and Spending at the Professional Standard of Living (1927), and numerous reports and articles in periodicals.

In the field of public service she was a member of the Berkeley Commission of Public Charities (1910-1913), and of the State Board of Charities and Corrections (1912-1924). On the latter board she served as chairman of the Committee on Children, and of the Committee on Research. During the first World War she served with the Council of National Defense as a member of a subcommittee of Women in Industry, and of the Committee on Child Welfare of the General Medical Board. In 1918 she received the more important appointment as Executive Chairman of the Committee on Child Welfare of the Women’s Committee of the Council, and later in the same year she was Chief of the Child Conservation Section.

But most to be remembered is her distinguished service in the University of California. The courses she offered included Contemporary Socialism, Control of Poverty, The Child and the State, the Household as an Economic Agent, and Crime as a Social Problem. In the later years of her teaching her interest shifted somewhat to problems of the consumer and general economic theory, culminating in a graduate seminar on the History of Economic Thought. Unstinting in the time and attention given to the advanced courses, she stimulated and inspired her students, proof of which is given in their contributions to the memorial volume, Essays in Social Economics, published in her honor in 1935 by the University of California Press.

In addition to formal instruction, Miss Peixotto served both the University and the community by organizing the first training in California for social work. This developed, in 1917, into a professional and graduate curriculum in the Department of Economics, later to become the Department of Social Welfare.

In 1923, under her chairmanship, the Heller Committee for Research in Social Economics was established at the University. This chairmanship she held until she was made Professor Emeritus in 1935.

The University as a whole, and more especially those in the Department of Economics, have been enriched by association with Dr. Peixotto. She was primarily an economist and insisted on laying a firm basis of economics for all her social work. But, as Professor Wesley Mitchell said in the memorial volume, her interests were so wideranging that her instruction has given intellectual stimulus not only to social workers and sociologists but also to psychologists, pediatricians, psychiatrists, economists, statisticians, and lawyers.

Fitly was she characterized in the citation when given the honorary degree of LL.D.: “Chosen counselor of the State in matters concerning the protection of children and the care of the unfortunate; social economist marshaling stubborn facts in the service of mankind; comrade among students, inspiring teacher, true lover of humanity.”

Source: University of California. In Memoriam, 1941. pp. 24-25.

Image Source: University of California archive picture of Jessica Blanche Peixotto (UARC PIC 1300:004) from webpage “Women at CAL: When California Passed the Woman Suffrage Amendment, 1910-1914/Room 3“.

____________________

JESSICA BLANCHE PEIXOTTO
1864 – 1941
by Judith R. Baskin

Jessica Blanche Peixotto, a member of a prominent Sephardic family distinguished for its long history of intellectual, philanthropic, and cultural contributions to the United States, broke gender boundaries throughout her career as a social economist and university professor. She was born in 1864 in New York City, the only daughter and oldest child of Raphael Peixotto, a prosperous Ohioan involved in trade with the South, and Myrtilla Jessica (Davis) Peixotto, originally of Virginia. In 1870, Raphael Peixotto moved his family and business to San Francisco. Jessica Peixotto’s four brothers were Edgar, a San Francisco attorney; Ernest Clifford, an artist and author; Eustace, director of public school athletics in San Francisco; and Sidney Salzado, a social worker.

After high school graduation in 1880, Peixotto acquiesced to family disapproval of her ambitions for higher education, continuing her studies at home through private instruction. In 1891, however, she enrolled at the University of California at Berkeley, receiving a bachelor’s degree in 1894, and continued on to graduate study in political science and economics. She received a Ph.D. in 1900, the second given to a woman at the University of California. Peixotto’s thesis The French Revolution and Modern French Socialism, published in 1901, was based on independent research undertaken at the Sorbonne in 1896–1897.

In 1904, Jessica Peixotto joined the faculty of the University of California at Berkeley as a lecturer in sociology. Her appointment was soon transferred to the economics department, where she taught until her retirement in 1935. In 1918, Peixotto was the first woman to earn the rank of full professor at Berkeley. Her service as head of her department was also a first for a woman there. National honors include her election as vice president of the American Economic Association in 1928. Following her retirement, Peixotto received honorary doctorates in law from Mills College in 1935 and from the University of California in 1936.

Peixotto’s published works include Getting and Spending at the Professional Standard of Living: A Study of the Costs of Living an Academic Life (1927), and Cost of Living Studies. II. How Workers Spend a Living Wage: A Study of the Incomes and Expenditures of Eighty-Two Typographers’ Families in San Francisco (1929). A collection of papers and comments Essays in Social Economics in Honor of Jessica Blanche Peixotto (1935) provides full details of her life and published writings.

Throughout her career, Peixotto was deeply committed to social causes, serving for twelve years on the California State Board of Charities and Correction. During World War I, she worked in Washington, first as executive chairperson of the child welfare department of the Women’s Committee of the Council of National Defense, and then as chief of the council’s child conservation section. She was also a member of the Consumers’ Advisory Board of the National Recovery Administration in 1933. At the University of California, Peixotto founded a program within the economics department that ultimately led to a professional school of social work.

Jessica Peixotto died in October 1941. While proud of her Jewish background, she was not involved in the Jewish community or any Jewish causes. Her funeral service, followed by cremation, was conducted by a representative of the Unitarian Society, together with the vice president and provost of the University of California.

Source: Jessica Blanche Peixotto webpage at the Encyclopedia of Jewish Women.

____________________

UNIVERSITY OF CALIFORNIA
DEPARTMENT OF ECONOMICS

TOPICS AND REFERENCES FOR
ECONOMICS 42
CONTEMPORARY THEORIES OF SOCIAL REFORM

BERKELEY: THE UNIVERSITY PRESS
1906

PLAN OF THE COURSE:

1. — The Subject in General.
2. — Contemporary Political Socialism.
3. — Critical Discussion of the Doctrines of Marxism.
4. — Communism and Anarchism.
5. — Social Reform Movements with Less Extensive Programs.
6. — Utopianism.

PART I.— THE SUBJECT IN GENERAL.

Nature and Scope of the Subject.
Definition.
Classification,—its Difficulties, its Necessity.

General Bibliography:

Bibliographies:

Stammhammer: Bibliographie des Socialismus u. Communismus. Jena, Fischer, Bd. I, 1898; Bd. II, 1900.

Documente des Sozialismus, edited by Ed. Bernstein. Berlin, 1901 and succeeding years.

Encyclopedias:

Bliss: Encyclopedia of Social Reform. Funk & Wagnalls Co., 1897.

Stegman and Hugo: Handbuch des Socialismus. Zürich, Verlags-Magazin, 1897.

General Studies:

Biederman, Karl: Vorlesungen über Sozialismus und Sozialpolitik. Breslau, Schottlander, 1900.

Bourguin, Maurice: Les systèmes socialistes et l’évolution économique. Paris, Colin, 1904.

Brooks, John Graham: The Social Unrest. Macmillan, N. Y., 1903.

Diehl, Karl: Über Sozialismus, Kommunismus u. Anarchismus. Jena, Fischer, 1906.

Ely, Richard T.: The Labor Movement in America. N. Y., Crowell & Co., 1886.

Ely, Richard T.: French and German Socialism in Modern Times. N. Y., Harper & Bros., 1883.

Socialism and Social Reform. N. Y., T. Y. Crowell & Co., 1894.

Graham, W.: Socialism, New and Old. London, Kegan Paul, 1891.

Herkner, Heinrich: Die Arbeiterfrage. Berlin, J. Guttentag, 1902.

Kirkup, T.: History of Socialism. London, Black, 1900.

Laveleye, Emile de: Le Socialisme Contemporain. Alcan, Paris, 1886. (Eng. trans.: The Socialism of To-day, by G. H. Orpen, London, Field & Tuer, 1885.)

Leroy-Beaulieu, Paul: Le Collectivisme, examen critique du nouveau socialisme. Paris, Guillaumin, 1885.

Essais sur la Répartition des Richesses et sur la Tendance à une moindre Inégalité des Conditions. Paris, Guillaumin, 1888.

La Question Ouvrier aux XIX Siècle. Paris, Charpentier, 1882.

Menger, Anton: Das Recht auf den vollen Arbeitsertrag. Stuttgart, Cotta, 1886. (Eng. trans.: The Right to the Whole Product of Labor, Macmillan, 1899.)

Pareto, V.: Les Systèmes Socialistes. Giard et Brière, Paris, 1902. 2 vols.

Pesch, Heinrich: Liberalismus, Socialismus, und christliche Gesellschaftsordnung. Freiburg i. Br., Herd’sche Verlagshandlung, 3 Bde., 1893-1900. (See particularly 3rd vol.)

Rae, John: Contemporary Socialism. London, Swan Sonnenschein, 1898.

Schäffle, Dr. A. E. F.: Die Quintessenz des Socialismus. Gotha., Perthes, 1891. (Eng. trans.: Quintessence of Socialism.)

The Impossibility of a Social Democracy, being a supplement to the “Quintessence of Socialism,” with a preface by Bernard Bosanquet. London, S. Sonnenschein, 1892.

Sombart, Werner: Sozialismus und soziale Bewegung. Fünfte Auflage, 1905. (Eng. trans, of 1st edition: Socialism and the Social Movement in the Nineteenth Century. N. Y., Putnam, 1898.)

PART II.— CONTEMPORARY POLITICAL SOCIALISM.

1. Marxism.

(a) The Theory.

1a. Its statement by the founders.

Engels, Friedrich: Herrn Eugen Dührings Umwälzung der Wissenschaft. Stuttgart, Dietz, 1894.

Marx, Karl: Das Kapital. Hamburg, Meissner, 1882-98. Ill Bde. (Eng. trans.: Capital, London, Swan Sonnenschein, 1888. Students pressed for time may, without great disadvantage, consult Aveling, Edw.: “The Student’s Marx, an Introduction to the Study of Karl Marx’s ‘Capital.’” London, Swan Sonnenschein, 1892.)

Marx, Karl, and Engels, Fr.: Manifesto of the Communist Party, 1848. (This remains the “Bible” of socialism, and should be carefully read by every student.)

Lassalle, Ferdinand: Reden und Schriften. 3 Bde., herausgegeben von Ed. Bernstein, Berlin, Verlag Vorwärts, 1891. (Eng. trans.: of the “Arbeiterprogramm” by Peters, “Working-man’s Programme and Addresses.” N. Y., International Publishing Co., 1898.)

Aus dem literarischen Nachlass von Karl Marx, Friedrich Engels und Ferdinand Lassalle. Herausgegeben von Franz Mehring, Stuttgart, Dietz, 1901-4. 4 Bde. (A collection of the greatest interest to students of the writings of these three founders of the Marxian movement.)

2a. Modern presentations of the theory.

Bernstein, Ed.: Die Voraussetzungen des Sozialismus und die Aufgaben der Sozialdemokratie. Stuttgart, Dietz, 1899.

Blatchford, Robert: Merrie England. Chicago, Chas. Kerr, & Co.

Deville, Gabriel: Principes Socialistes. Paris, Giard et Brière, 1896.

Ensor, R. C. K.: Modern Socialism. Harper & Bros., N. Y., 1904.

Fabian Essays in Socialism. London, Fabian Society, 1890.

Fabian Tracts (1-126), 1884-1906. Notably Nos. 5, 13, 15, 51, 69, 72.

Ghent, J. Wm.: Mass and Class. N. Y., London, Macmillan, 1904.

Guesde, Jules: Quatre ans de Lutte de classe à la Chambre.

Guesde, J., et Lafargue. P.: Le Program du Parti Ouvrier, son Histoire, ses Considérations, ses Articles. Lille, Imprimerie du Parti Ouvrier, 1894.

Hyndman, H. M.: The Economics of Socialism. London, Twentieth Century Press, 1896.

Kautsky, Karl: Das Erfurter Programm in seinen grundsätzlichen Theilen erlaütert. Stuttgart, Dietz, 1892.

Die Soziale Revolution. Berlin, Verlag “Vorwärts,” 1903. (Eng. trans.: The Social Revolution. Chas. H. Kerr & Co., Chicago.)

Kautsky, K., und Schönlank, Bruno: Grundsätze und Forderungen der Sozialdemokratie. Berlin, Verlag “Vorwärts,” 1892.

Labriola, A.: Socialisme et Philosophie. Paris, Giard et Brière, 1899.

Liebknecht, Wm.: Was die Socialdemokraten sind und was Sie wollen. Chemnitz, Albin Langer, 1894. (Eng. trans.: Socialism, What It Is and What It Seeks to Accomplish. Chas. H. Kerr & Co., Chicago.)

Menger, Anton: Neue Staatslehre. Jena, Fischer, 1903.

Neue Sittenlehre. Jena, Fischer, 1905.

Mills, W. T.: The Struggle for Existence. Chicago, International School of Social Economy, 1904.

Morris, Wm., and Bax, E. B.: Socialism, Its Growth and Outcome. London, Swan Sonnenschein, 1897.

Spargo, John: Socialism. N. Y., Macmillan, 1906.

Yandervelde, Emile: Le Collectivisme. Bruxelles, Au Journal du Peuple, 1896.

Le Collectivisme et la Révolution Industrielle. Paris, Librairie Georges Bellais, 1900. (Eng. trans.: Collectivism and Industrial Revolution. Chicago, Chas. H. Kerr & Co., Standard Socialist Series No. 2.)

(b) The makers and propagators of the theory.

On Karl Marx:

Böhm-Bawerk, Eugen V.: Zum Abschluss des Marxischen Systems. Berlin, 1896. (Eng. trans.: Karl Marx and the close of his system. London, Fisher Unwin, 1898.)

Engels, Fr.: Karl Marx. (Handwörterbuch d. Staatswiss, IV, 1892.)

Liebknecht, Wm.: Karl Marx zum Gedächtnis. Nürnberg, 1896. (Eng. trans.: Karl Marx. Standard Socialist Series No, 1, Chicago, Chas. H. Kerr & Co.)

Liebknecht über Marx. (Neue Zeit, Jhrg. 15, 1896-97.)

Lafargue, P.: Karl Marx, Persönliche Erinnerungen. (Neue Zeit, Jhrg. 9, 1890-91.)

Mehring, Franz: Aus dem literarischen Nachlass, etc. Bd. I, pp. 1-57.

Nieuwenhuis, Domela: Karl Marx in Memoriam. Amsterdam.

Chapters in Kirkup, Rae, Russell, Sombart, etc

On Engels:

Kautsky, K.: Friedrich Engels und das Milizsystem. (Neue Zeit, Jhrg. 17, 1898-99.)

Friedrich Engels. (Züricher Socialdemokrat, Nos. 45-50, 1887.) (Eng. trans.: Fr. Engels, his Life, Work, and Writings. Chas. H. Kerr & Co., Chicago.)

Sombart, W.: Friedrich Engels, 1820-95, Ein Blatt zur Entwickelungsgeschichte des Socialismus. Berlin, 1895.

On Ferdinand Lassalle:

Becker, B.: Die Arbeiteragitations Lassalle, 1875.

Bernstein, Ed.: Ferdinand Lassalle und seine Bedeutung in der Geschichte der Sozialdemokratie in “Reden und Schriften,” Bd. I, pp. 5-189. (Eng. trans.: Ferdinand Lassalle as a social reformer. London, Swan Sonnenschein, 1893.)

Dawson, W. H.: German Socialism and Ferdinand Lassalle. London, Swan Sonnenschein, 1888.

Meredith, George: The Tragic Comedians.

Chapters in Kirkup, Rae, Russell, Sombart, etc.

(c) German Social Democracy (Socialdemokratische Partei Deutschlands).

1c. History of its development as a political party.

Bouffé, Gaston: Le Parti socialiste allemande, son évolution. Paris, A. Chevalier Marescq, 1903.

Bourdeau, J.: Le socialisme allemand et le nihilisme russe. Paris, Alcan, 1892.

Mehring, F.: Zur Geschichte der deutschen Sozialdemokratie. Stuttgart, Dietz, 1897-98. (Geschichte des Socialismus in Einzeldarstellung. Bd. 3.)

Milhaud, E.: La démocratie socialiste allemande. Paris, Alcan, 1903.

Russell, Bertrand: German Social Democracy. London, Longmans, 1896, pp. 69-116.

Stegman und Hugo: Articles — International Arbeiterassociation, Sozialistischen Arbeiterpartei, Sozialdemokratische Partei Deutschlands.

Sombart: Sozialismus, etc. Pp. 201-208.

2c. Party organization. — Program. —Party tactics. —Methods of propaganda.

Bernstein, Ed.: Die heutige Sozialdemokratie in Theorie u. Praxis. Munich, Beck & Co., 1906.

Mehring, F.: op. cit.

Milhaud, E.: op. cit., pp. 51-181.

Russell, B.: op. cit., pp. 116-143.

Stegman u. Hugo: Articles — Taktik, Program.

To follow the movement at first hand, consult:

Protokoll über die Verhandlungen des Parteitags der Socialdemokratischen Partei Deutschlands from Halle (1890) to Jena (1905). Of these, that of Erfurt (1891), Dresden (1903), and Jena (1905) are of special interest.

Vorwärts. Berlin. Central official organ (daily).

Neue Zeit. Stuttgart, Dietz. Official magazine ed. by K. Kautsky (weekly).

Socialistische Monatshefte. Berlin. Publication representing the less radical group (monthly).

In Freien Stunden and Die Neue Welt. Literary publications which make a dignified attempt to spread artistic and intellectual ideals among the working classes.

Wahre Jacob. Stuttgart. Comic paper with no mean influence.

Die Gleichheit. (Interests of women workers), ed. by Clara Zetkin.

3c. The party in action today.

Revisionism. — Internationalism. — The agrarian question. — Relation to coöperation. — To trade-unionism. — Anti-semitism. — Syndicalism.

Bebel, A.: Unsere Ziele. Berlin, Buchhandlung “Vorwärts,” 1903.

Göhre, Paul: Die Agrarische Gefahr. Berlin, Verlag “Vorwärts,” 1902.

Kautsky, K.: Der Parlementarismus, die Volksgesetzgebung u. die Sozialdemokratie. Stuttgart, Dietz, 1893.

Mehring, F.: op, cit.,

Milhaud, E.: op. cit., pp. 181-517.

Russell, B.: op. cit., pp. 143-171.

4c. Austrian movement.

Stegman u. Hugo: Article, Oesterreich.

Deutsch, J.: Zur Geschichte der Arbeiterbewegung in Ungarn. (Die Zeit, Nr. 162. Wein, Nov. 6, 1897.)

Gumplowicz, Ladisl: Mouvement social. Autriche (Rev. internat. de sociologie, II, 1894).

Kcral, August: Zur Geschichte der Arbeiterbewegung Oesterreichs, 1867-94. Berlin, 1894.

Navay, L.: Die Arbeiterfrage in Alfeld mit besonderen Rucksicht auf die Arbeiterverhältnisse im Comitate Cznad. (Zeitschrift f. Volkwirtschaft, Soz. Pol. u. Verwalt, VI, 1897.)

Schatzl, J.: Die Corruption in der oesterreichischen Socialdemokratie. Wien (Leipzig, Liter. Anst., A. Schulze), 1896.

Schlesinger-Eckstein, T.: Die erste Konferenz deutscher Sozialdemokratinnen in Oesterreich (Neue Zeit, Jhrg. 16, 1897-98).

(d) Marxism in Latin Countries.

1d. France.

History of the growth of the Marxian movement in France. — Factions. — Programs. — Municipal Socialism in France. — Social influence. — Agrarian question.

Coubertin, Pierre de: France under the Third Republic, translated by I. F. Hapgood. New York, 1897, Ch. XIV.

Gaillard, Louis: La royaume socialiste, choses vues. Paris, Darajan, 1902.

Histoire socialiste (1789-1900) sous la direction de Jean Jaurès. Paris, Rouff, 1901.

Jaurès, Jean: Action Socialiste. Paris, Bellais (undated).

Lafargue, Paul: Die socialistiche Bewegung in Frankreich, 1876-90. (Neue Zeit, 1890.)

Socialism in France, 1876-96 (Fortnightly Rev., 1897, Sept.).

Laviron, P. E.: Le socialisme français et le collectivisme allemand. Paris, Allemane, 1895.

Lecky, W. H.: Democracy and Liberty. New York, 1896. Vol. II, pp. 224-369.

Louis, P.: Les Etapes du socialisme. Paris, Charpentier, 1903, pp. 235 et sq.

Métin, A.: La formation de la démocratie socialiste française.

Millerand, A.: Le socialisme réformiste français. Paris, Bellais, 1903.

Peixotto, J. B.: French Revolution and Modern French Socialism. New York, Crowell & Co., 1901. Ch. VI.

Sombart, W.: Sozialismus, etc. 5th ed., 1906. Pp. 208-214.

For movement at first hand, read:

Reports of the Congrès Generales des Organizations Socialistes. Paris, 1900, and succeeding years.

La Petite République. (Moderate group.) Paris (daily).

L ‘Humanité. Jaurès, editor. Paris. (Daily.)

La Revue Socialiste. Organ of Integral Socialists. (Monthly.)

Le Mouvement Socialiste. Organ of the radical group. (Fortnightly).

2d. Italy.

Marxism as it has become a political party in Italy. — The present political situation. — Special traits.

Gnocchi-Viani, O.: Dal mazzmianismo al socialismo. Colle, 1893.

Groppali, Alessandro: Le mouvement social en Italie (extrait de la Rev. Internat. de sociologie). Paris, Giard et Brière, 1897.

Loria, A.: II movemento operaio.

Nerbini: Cinquante Anni di socialismo nella Italia. Firenze, 1888.

Nitti, F. S.: Le mouvement économique et social en Italie en 1891. (Rev. sociale et politique, année 2, 1892.)

Sombart, W.: Sozialismus, etc. 5th ed. Pp. 235-239.

Der gegenwartige Stand der italienischen Arbeiterbewegung (Socialpol. Zentralbl. I, 1892).

Studien zur Entwickelungsgeschichte des italienischen Proletariats. (Arch. f. soc. Gesetzg. Bd. 6, 1893; Bd. 8, 1895.)

For first hand insight:

Bolletino della Direzione del Partito Socialista Italiano. Rome. (Monthly.)

Reports of meetings of congresses at Rome (1900), Imola (1902), Bologna (1904).

Avanti. Official organ of the radical socialists, editor, Enrico Ferri. Rome. (Daily.)

Nuova Antologia. Rome. (Monthly.)

L’Asino. Rome. (Comic weekly.)

Il Seme. Publication of the moderate group. Rome. (Fortnightly.)

3d. Spain.

General aspects of the movement in Spain.

Die sociale Bewegung in Spanien. (Jahrb. f. Socialwissenschaft, 1. u. 2, Zurich, 1879 and ’80).

Iglesias, Pablo: Die sozialistiche Arbeiterpartei in Spanien. (Neue Zeit, Jhrg. 10, 1891-92.)

Maze-Sencien, G.: Le socialisme en Espagne. (Extrait de la Rev. pol. et parl., 1898, aout et sept.). Paris, Davy, 1898.

Posada, A.: L’évolution sociale en Espagne, 1894 et 1895. Paris, Giard et Brière, 1896.

Le mouvement social en Espagne, 1896. (Extrait de la Revue internat. de sociologie.) Paris, Giard et Brière, 1897.

Le parti socialiste ouvrier Espagnol au congrès international de Paris de 1900. Madrid, Teodoro, 1901.

Stegman u. Hugo: Art. Spanien.

(e) Marxism in other Continental Countries.

1e. Belgium.

History and distinctive character of Belgian socialist movement.

Bertrand, Louis: Histoire de la Coöpération en Belgiqae. Bruxelles, 2 v.

Destrée, J., and Vandervelde, E.: Le Socialisme en Belgique. Paris, Giard et Brière, 1903.

Deutscher, Paul: The Socialist Movement in Belgium. The Workingmen’s Party (Free Review, 1896, March).

Sombart, W.: Sozialismus. 5th ed. Pp. 229-233.

Consult further:

Reports of Congrès du Parti ouvrier for 1885, and succeeding years.

Le Peuple. (Party organ.) Brussels. (Daily.)

2e. Denmark, Norway, and Sweden.

Baug, Gus.: Ein Blick auf die Geschichte der dänischen Sozialdemokratie. (Neue Zeit, Jhrg. 16, 1897-98.)

Jensen, Ad.: Le Socialisme en Danemark. Rev. d’économpolitique, X, 1896, June.

Knussden, Olsen S. and Olsen M.: Bericht der Sozialdemokratie in Dänemark. Bruxelles, P. Weissenbruch, 1891.

Lindeberg, F.: Die Arbeiterbewegung Dänemarks. (Schweiz. Blätter f. Wirtsch. u. Soz. Pol., Jhrg. 6, 1898.)

Martinet, C: Le socialisme en Danemark. Paris, Société d’éditions scientifique, 1893.

Sombart, W.: Sozialismus, etc. 5th ed., 1906. Pp. 233 et sq.

Stegman u. Hugo: Arts. Dänemark, Norwegen, Schweden.

3e. Switzerland.

Berghoff-Ising, Dr. Frz.: Die socialistische Arbeiterbewegung in der Schweiz. Leipzig, Duncker, Humboldt, 1895.

Die neuere socialistische Bewegung in der Schweiz. (Schmoller’s Jahrb. f. Gesetzg., Jhrg. 17, 1893.)

Le socialisme en Suisse. (Extrait de la Revue d’Econ. pol. X, 1896.) Paris, Larose, 1896.

Chez nous en Suisse ou les libertés helvétiques mises à nus. Génève, 1899.

Lang, Otto: Der Socialismus in der Schweiz. Berlin, Verlag der Socialistischen Monatshefte, 1902.

Müller, H.: Die schweizerische Socialdemokratie. (Schweiz. Blätter f. Wirtschaft u. Soz.-Pol., Jhrg. 6, 1898.)

4e. Russia.

Plechanoff, G.: Die Sozialpolitischen Zustande Russland im Jahre 1890. (Neue Zeit, Jhrg. 9, 1890-91.)

Stegman u. Hugo: Art. Russland.

Winiarsky, L.: Der Sozialismus in Russischen-Polen. Neue Zeit, Jhrg. 10, 1891-92.)

(f) Marxism Under Anglo-Saxon Influence.

1f. Marxist movement in England.

The development of the present movement in England.— The Social Democrats. — Fabianism. — Independent Labor Party. — Socialism in the Colonies.

Bernstein, Ed.: Politische Partei u. wirtschaftliche Interessen in England. (Neue Zeit, Jhrg. 15, 1896-97.)

Herron, G. D.: Impressions of the English Labor Movement. (Commons, 1898, Jan.)

Laveleye, E. de: Socialism of Today. 1885. Appendix.

Marx-Aveling, Eleanor: Die Arbeiterclassen-Bewegung in England. Nürnberg, Wörlein u. Co., 1895.

Métin, A.: Le socialisme en Angleterre. Paris, Alcan, 1897.

Un socialisme sans doctrine (on Australia and New Zealand). Paris, Alcan, 1901.

Shaw, B.: Fabian Socialism, What It Is and What It Has Done. Fabian Tract No. 41.

Verhaegan, P.: Socialistes anglais. Paris, Larose, 1898.

Webb, Sidney: Socialism in England. American Economic Association, 1889, April.

Woods, R. A.: English Social Movements. London, Swan Sonnenschein, 1895, pp. 38-78.

For the movement at first hand:

Clarion. Ed. by Robert Blatchford. London. (Weekly.)

Justice. Organ of Social Democratic Federation. London. (Weekly.)

Labor Leader. Official organ of I. L. P. (Monthly.)

Fabian News. Organ of Fabian Society. London. (Monthly.)

Reformer’s Year-Book.

2f. American Marxism.

The history of political socialism in the United States. — Distinctive traits. — Tendencies.

Ely, Richard T.: Labor Movement in America. N. Y., Crowell & Co., 1886.

Engels, Fr.: The Working-Class Movement in America. London, 1888.

Hilquit, Morris: History of Socialism in the United States. N. Y., Funk & Wagnalls Co., 1902.

Kerby, W. J.: Le Socialisme aux Etats-Unis. Bruxelles, (Goemaere, 1897.

Mills, W. T.: The Struggle for Existence. Ch. XLV.

Martiis: Il Socialismo negli Stati Uniti. 1891.

Walterhausen: Der moderne Socialismus in den Vereinigte Staaten von Amerika. 1890.

Sombart, W.: The historical development of the American proletariat. (Inter. Soc. Rev., Nov., 1905.)

For the movement at first hand:

Socialist Party Proceedings at National Convention, Chicago, 1904. Issued by National Committee, 269 Dearborn street, Chicago.

Party programmes (to be found annually in most American Almanacs).

Party magazines and newspapers, of which the best are, perhaps:

The Worker. New York. (Daily.)

Appeal to Reason (somewhat “yellow” journal). J. A. Wayland, editor. Girard, Kansas. (Daily.)

International Socialist Review. Chicago, Chas. H. Kerr & Co. (Monthly.)

Wilshire’s Magazine. New York, Wilshire Publishing Co. (Monthly.)

2. Non-Marxist Political Socialist Movements.

(a) Christian Socialism.

1a. Catholic Socialism.

Its founders. — Its special aims and its influence in the leading countries of the world.

Hitz, F.: Die Quintessenz der sociale Frage. Paderbom, Bonifacius, Dr., 1877.

Leroy-Beaulieu, Anatole: La papauté, le socialisme et la démocratie. Paris, Calmann Lévy, 1892. (Eng. trans.: Papacy, Socialism, and Democracy.)

Nitti, F. S.: Il socialismo cattolico. Torino, 1891. (Eng. trans.: Catholic Socialism. London, Swan Sonnenschein, 1895.)

Soderni, E.: Socialism and Catholicism. Longmans, 1896.

Stegman u. Hugo: Art. Christlicher Socialismus.

Valez, A.: Le socialisme catholique en France. Montauban, Granié, 1892.

Etudes sociales catholiques. Paris, A. Schulz et Friburg, 1892.

Best known periodicals:

Christlich-Sociale Blätter.

Revue du christianisme pratique.

La Réforme sociale (school of Le Play).

2a. “Christian” or Evangelical Socialism.

Its distinctive characteristics and political status in the several leading nations of the world.

Behrends, A. J. F.: Socialism and Christianity. N. T., Baker & Taylor, 1886.

Carter, J.: Christian Socialism in England. London, 1891.

Göhre, Paul: Die Evangelische-soziale Bewegung. Leipzig, 1896. (Eng. trans.: Evangelical-Social Movement in Germany, Its History and Aims. London, Ideal Public Union, 1898.)

Headlam, Rev. S. D.: Christian Socialism. Fabian Tract No. 42.

Kaufman, M.: Christian Socialism. London, Kegan Paul, 1888.

Naumann, P.: National-Socialen Katechismus. Berlin, Buchverlag der “Zeit,” 1897.

New Christian Socialism. (Quarterly Rev., 1894, July.)

Stöcker, Adf.: Selbsthülfe! Staatshülfe! Gotteshülfe! Essen, Gladbach, 1891.

Stubbs, C. W.: A Creed for Christian Socialists. London, Reeves, 1897.

Best known periodicals:

Church Reformer (London).

Christian Socialist (London).

Die Zeit (organ für nationales Sozialismus auf christliche Grundlage, Berlin).

Hilfe (Frankfurt, a. M.)

Revue du Christianisme social.

See also “Arbeiterbibliothek” (Göttinger), ed. by P. Naumann.

3a. The problem of Christian Socialism.

Adler, Felix: Life and Destiny. N. Y., McClure, Phillips & Co., 1905. Esp. pp. 75-141.

Clifford, Dr. John: Socialism and the Teaching of Christ. Fabian Tract No. 78.

Mathews, Shailer: The Social Teachings of Jesus.

Peabody, Francis G.: Jesus Christ and the Social Question. Macmillan, 1903.

Religion of an Educated Man.

Stubbs, Rev. C. W.: Christ and Economics. Isbister, 1893.

(b) “Philanthropic” Socialism.

What it is, and how it may, or may not, be political socialism. — Some of the representatives of this type of socialism. — Its influence.

Bernstein, Ed.: Zur Frage— Socialliberalismus oder Collectivismus. Berlin, 1900.

Brooks, John G.: The Social Problem. N. Y., Macmillan, 1902.

Hobhouse, L. T.: The Labor Movement. Fischer, Unwin & Co., 1898.

Hobson, J. A.: The Social Problem. N. Y., Pott, 1902.

Kelly, Edmond: Government or Human Evolution. Longmans, N. Y., 1900-01. 2 vols.

Kirkup, T.: History of Socialism. Pp. 273-311.

Wells, H. G.: Mankind in the Making. London, Chapman and Hall, 1904.

(c) State Socialism.

What it is and what sets it apart from the Marxist and other movements. — Katheder-Sozialismus.

Block, Maurice: Quintessence of State Socialism.

Bryce, R. J.: A Short Study of State Socialism. London, E. Baynes & Co., 1903.

Dawson, W. H.: Bismarck and State Socialism. London, Swan Sonnenschein, 1890.

Kautsky, K.: Vollmar und der Staatssozialismus. (Neue Zeit, Jhrg. 10, 1891-92.)

Laveleye, Ch.: Socialism of Today. Ch. XII.

Métin, A.: Un Socialisme sans doctrine. Paris, Alcan, 1901.

Millerand, A.: Le socialisme réformiste.

Smith, Hubert L.: Economic Aspects of State Socialism. London, Simpkin, 1887.

Wagner, A.: Vortrag über Sozialismus, Sozialdemokratie, Katheder und Staatssozialismus. Berlin, Vaterländ. Verl. Anst. in Komm., 1894.

Die akademischer Nationalökonomie u. die Socialismus. Berlin, Becker, 1895.

PART III.— CRITICAL DISCUSSION OF THE DOCTRINE OF MARXIAN SOCIALISM.

1. Marxist Analysis of Industrial Society.

(a) Marxist Classification of the Factors in Industrial Life.

Labor and proletariat. — Capital and bourgeoisie, and whether these terms are, and can be, used interchangeably.

Kautsky, K.: The Social Revolution, esp. sec. 43.

Marx, K.: Communist Manifesto. Passim.

The “leisure class,” what socialists mean by it, and how they regard it.

See, besides writings of socialists previously cited:

Lafargue, Paul: Le droit à la paresse. Lille, Delory, 1891.

Massart, J., et Vandervelde, E.: Parasitisme organique et parasitisme social. Paris, Reinwald, Schleicher Frères, 1898. (Eng. trans.: Parasitism, organic and social. London, Swan Sonnenschein, 1895.)

Students will do well to read in this connection:

Veblen, Thorstein: Theory of the Leisure Class. N. Y., Macmillan, 1902.

(b) Surplus Value.

The Theory.

Aveling, Edw.: Students’ Marx. Pp. 1-48.

Bernstein, Ed.: Die Voraussetzungen des Sozialismus, etc. Pp. 37-46.

Kautsky, K.: Karl Marx’s Oekonomische Lehre. Pp. 3-116.

Marx, K.: Capital. I, pp. 1-311.

Validity of the theory. — Its relation to orthodox economic findings. — How far it is fundamental to socialistic economic theory.

Böhm-Bawerk: Karl Marx and the Close of His System.

(c) Law of Concentration of Capital.

What it is.

Marx, K.: Capital. Pp. 625-736.

Aveling, Edw.: Students’ Marx. Pp. 138-157.

Kautsky, K.: Marx’s Oekonomische Lehren. Pp. 116-177.

Vandervelde, E.: Collectivism and Industrial Evolution. Pt. 1.

How far dispassionate investigation validates this law.

Bourguin, M.: Les systèmes socialistes. Ch. XI, Ch. XII, Ch. XIII, Annexes III, IV, V.

The Trusts in socialist theory.

Lafargue. P.: Les Trusts Américains. Paris, Giard et Brière, 1897.

Lloyd, H.: Wealth Against Commonwealth. Harper, 1894.

Macrosty, H. W.: Trusts and the State. Richards, 1901.

Vail, Chas.: The Trust Question. Chicago, Chas. H. Kerr & Co. (Pocket Library of Socialism No. 21.)

Mills, Walter Thomas: The Struggle for Existence. Ch. X.

Socialist attitude toward mechanical production. — Question of house industry vs. factory labor.

(d) Theory of Commercial Crises.

Socialist explanation of them. — Comparison of this explanation with other ways of accounting for them.

Bernstein, Ed.: Voraussetzungen des Sozialismus, etc. Pp. 66-83.

Kautsky, K.: Das Erfurter Programme. Pp. 86-104, 177-252.

(e) Theory of Increasing Misery.

What it is. — How far it is based on fact.

In addition to bibliography previously cited, see:

Why Are the Many Poor? Fabian Tract No. 1.

How far Marxian reformers expect the elimination of pauperism, and how far these expectations seem justified. — The question of unemployed in socialist theory.

Bebel, A.: Die Frau u. der Sozialismus, passim.

Kautsky, K.: Das Erfurter Programme. Pp. 104-166.

Renard, G.: Le régime socialiste. Pp. 152-186.

(f) The General Strike.

The conception viewed historically, and in contemporary socialist usage. — Objects.

Bernstein, Ed.: Der Strike als Politischer Kampfmittel. (Neue Zeit, Jhrg. 12, 1893-94.)

La Grève Générale et le Socialisme. Enquête Intérnationale. Paris, Odéon, 1904. (June, July, Aug. and Sept. Nos. of “Le Mouvement Socialiste.”)

Protokoll über die Verhandlung des Parteitags der Sozialdemokratischen Partei Deutschlands. Jena, 1905.

(g) Canons of Distribution.

Whether any are to be found in Marxist and related socialist theory, and if so, how far and in what way they promise more general enjoyment of the results of social production. — Whether socialist schemes expect to increase production, or control consumption. — Whether Marxists aim at distributive justice. — Economic efficiency under socialism.

(h) Competition.

Whether socialists expect the elimination of competition. — The claim that competition involves waste. — How far it is true. — Whether it is possible to eliminate competition from human affairs. — Whether it should be eliminated if it could be. — Whether industrial development is actually tending to diminish competition.

Kelly, Ed,: Government or Human Evolution. II, pp. 273-293.

Reeves, Sidney: The Cost of Competition. McClure, Phillips & Co., 1906.

2. Marxist Political Theory.

(a) The State in Socialist Interpretation.

What the State is held to be.— Its origin.— Its end.— The range of functions ascribed to it.

Deville, G.: Principes Socialistes. Pp. 174-181.

Renard, Georges: Le régime socialiste. Pp. 61-125.

(b) The Individual and His Rights.

Natural rights in Marxian theory. — Rights of the individual specifically or implicitly demanded by all socialists. — The grounds on which the demand for rights is formulated. — How far the word “natural” has disappeared.

Lafargue, P.: Le Droit à la paresse, passim.

Renard, G.: Le Régime socialiste. Alcan, 1904, pp. 24-61.

For views kindred to Marxian see, by way of comparison:

Hobson, J. A.: Social Problem. Bk. II, Chs. I and II.

Kelly, E.: Government or Human Evolution. I, Ch. I.

Menger, A.: Right to the Whole Product of Labor. Pp. 1-40.

Ritchie, D. G.: Natural Rights. London, 1895.

(c) Doctrine of Property.

The theory usually adopted as to the origin and function of property. — The changes in property relations which socialists have in view.

Lafargue, Paul: Evolution of Property from Savagery to Civilization. Swan Sonnenschein, 1891.

Lafargue, Paul, et Guyot, Yves: La propriété communiste par P. Lafargue; réfutation par Guyot. Paris, Delgrave, 1895.

Laveleye, Em. de: De la propriété et ses formes primitives. Paris, Baillière, 1874. (Eng. trans, by G. R. L. Marriott, London, 1878.)

Menger, A.: Right to the Whole Product of Labor. Pp. 157-175.

Willoughby, W. W.: Social Justice. London, Macmillan, 1900. Ch. IV.

(d) Social Democracy.

As to the form of government socialists propose. — What “social democracy” means additional to democracy. — Whether socialist understanding of democracy is the usual one. — Whether the democratic form of government is fundamental to a socialist state. — Whether economic freedom is the means to democracy, or democracy the means to economic freedom, and what economic freedom means.

Bernstein, Ed.: Vorausaetzungen des Socialismus. Pp. 118-140.

(e) Tendency to Belief in Decentralization.

Some reasons for this tendency. — The effects of the doctrine.

(f) Internationalism.

Its nature. — Its present popularity. — Whether adhesion to the doctrine implies diminished patriotism.

Jaurès, J.: Patriotisme et Internationalisme. Lille, Delory (undated.)

Renard, G.: Régime socialiste. Alcan, 1904. Pp. 68-74.

(g) The Family.

Socialist ways of accounting for its origin and its political and social function. — How socialists relate the institution of the family to the status of woman. — The relation between child and parent in the socialist theory.

Bebel, A.: Die Frau und der Sozialismus. Stuttgart, Dietz, 1891. (Eng. trans.: Woman in the Past, Present, and Future, of which many popular editions.)

Engels, F.: Der Ursprung der Familie. Zürich, Verlags-Magazin, 1891. (Eng. trans.: Origin of the Family. Chicago, Chas. H. Kerr & Co.)

Pearson, Karl: Ethic of Freethought. London, Black, 1901. Pp. 354-431.

Russell, B. and A.: German Social Democracy. Pp. 175-195.

Mills, Walter Thomas: The Struggle for Existence. Ch. XI.

3. Marx’s Doctrine of Social Progress.

(a) The Ultimate Premises of Socialism.

As to whether there are any fixed premises, and whether these premises are those which socialists themselves define. — Whether pessimism or optimism is at the bottom of the movement. — The controversy between materialism and idealism.

Bernstein, Ed.: Das realistische und das idealistische Moment in Socialismus (in “Zur Geschichte und Theorie des Sozialismus, pp. 262-287.)

Engels, Fr.: Eugen Duhrings Umwalzung der Wissenschaft.

Jaurès, J., et Fafargue, P.: Idéalisme et Matérialisme. Paris, 1895. (Publications du groupe des étudiantes collectivistes.)

Labriola, A.: Socialisme et Philosophie. Paris, Giard et Brière, 1899.

Marx, K.: “Holy Family” in “Aus dem literarischen Nachlass,” etc.

Pearson, K.: Ethic of Freethought. London, Adam and Charles Black, 1901. Pp. 301-354.

(b) The Materialistic Conception of History.

The doctrine. — Its antecedents, and how far the theory is the special property of socialists. — The several forms in which the theory is taught. — Validity of the theory. — Its influence outside of socialist circles.

Barthe, P.: Philosophie der Geschichte als Sociologie. Pp. 303-353.

Calwer, Rich.: Das Kommunistiche Manifest u. die heutige Sozialdemokratie. Braunschweig, Gunther, 1894.

Engels, Fr.: Feuerbach, the Roots of the Socialist Philosophy.

Ferri, Enrico: Socialismo e Scienza positiva. Roma, 1894. (Eng. trans.: Socialism and Positive Science.)

Labriola, A.: Saggi intorna alla concezione materialistica della Storia. Loescher, 1902. (Eng. trans.: Essays on the Materialistic Conception of History.)

Loria, A.: Analisi della Proprietà Capitalista. Torino, Bocca, 1889.

Marx, K.: Misère de la Philosophie.

Communist Manifesto.

Masaryk, T. G.: [Die philosophischen und sociologischen] Grundlagen des Marxismus. Vienna, Könegen, 1899.

Seignobos, Ch.: La méthode historique appliquée aux sciences sociales. Alcan, 1901. Pp. 259-269.

Seligman, E. R. A.: Economic Interpretation of History. Macmillan, 1902.

Stein, Ludwig: Die soziale Frage im Lichte der Philosophie. Stuttgart, Enke, 1903. Pp. 302-312.

Weisengrün, Paul: Der Marxismus. Leipzig, Veit & Co., 1900. Pp. 36-212.

(c) Class Struggle.

The doctrine in exact terms. — The social classes it defines, and the basis used to distinguish these. — The contradictions involved in the theory of class struggle. — Whether there is a class struggle on the lines defined by Marxists, or on any lines.

Barthe, P.: Philosophie der Geschichte als Sociologie. Pp. 336-346.

Bauer, A.: Les Classes Sociales. Paris, Giard et Brière, 1902.

Bernstein, Ed.: Klassenkampf-Dogma u. Klassenkampf-Wirklichkeit. Zur Geschichte u. Theorie des Socialismus, pp. 382-406.

Kautsky, K,: Das Erfurter Programme. Pp. 31-86.

Marx, K.: Communist Manifesto.

Novikow, J.: Les luttes entre les sociétés humaines et leurs phases successives. Paris, Alcan, 1896.

Noyes, W. H.: The Evolution of the Class Struggle. Chicago, Chas. H. Kerr & Co. (Pocket Library of Socialism.)

Simon, A.: Class Struggle. Chas. H. Kerr & Co., Chicago. (Madden Lib. No. 2.)

Veblen, Thorstein: Theory of Business Enterprise. Macmillan. Esp. Chs. VI, VII, IX, X.

4. Consideration of the Leading Objections to Socialism.

Brünhuber, M.: Die heutige Sozialdemokratie. Fischer, Jena, 1906.

Clark, W.: The Limits of Collectivism (Contemporary Review, 1893).

Donisthorpe, W.: Individualism— A System of Politics. Macmillan, 1889.

Gilman, N. P.: Socialism and the American Spirit. Boston, Houghton, Mifflin & Co., 1893.

Gladden, W.: Applied Christianity. Boston, Houghton, Mifflin & Co., 1886. (Essay on The Strength and Weakness of Socialism.)

Guyot, Yves: La tyrannie socialiste. Paris, Delagrave, 1893. (Eng trans.: The Tyranny of Socialism. London, Swan Sonnenschein, 1894.)

Mackay, J., and others: A Plea for Liberty. Murray, 1892.

Mallock, W. H.: Classes and Masses. London, 1896.

Aristocracy and Evolution. N. Y., 1898.

Morley, John: Compromise. 2nd ed. rev. London, 1877.

Nicholson, J. Shield: Historical Progress and Ideal Socialism. London, Black, 1894.

Richter, Eugene: Die Sozialdemokraten, was sie wollen und was sie werken. Berlin, 1878.

Richter, Eugene: Socialdemokratische Zukunftsbilder. Berlin, Verlag “Fortschritt,” A. G., 1890. (Eng. trans.: Pictures of the Socialist Future. 1894. Sonnenschein.

Say, Léon: Contre le Socialisme. Paris, Leroy, 1896.

Schäffle, A. E. F.: The Impossibility of Social Democracy.

Spencer, Herbert: The Man versus the State.

Sumner, W. G.: What Social Classes Owe Each Other. N. Y., 1884.

Thiers, A.: Du droit de propriété. 2 vols. Paris, Didot, 1841. (Eng. trans.: Rights of Property.)

PART IV.— COMMUNISM AND ANARCHISM.

1. Communism.

Some notable recent attempts at communism. — General type of social organization under communism. — Psychology of the communist. — Tendencies and average results of communistic experiments.

Broome, Isaac: The Last Days of the Ruskin Coöperative Association.

Bulletin of U. S. Labor Dept. (article on Coöperative Communities in the U. S., by Rev. Alex. Kent).

Eastlake, Allan: Oneida Community. Redway, 1900.

Nordhoff, C: Communistic Societies of the U. S. London, Murray, 1875.

Winchell, Alex. C: Communism in America. (North American Review, 1888, May.)

2. Anarchism.

(a) Classification.

The several types of anarchism, and their representatives.

Bakounine, Michel: Oeuvres (especially Dieu et I’Etat).

Grave, Jean: La société mourante et l’anarchie. Paris, 1893.

La société future. Stock, 1895.

L’Individu et la société. 1897. 2nd ed.

L ‘Anarchie, son but, ses moyens. Paris, Stock, 1899.

Hertzka, Theodore: Freiland. (Translated by A. Ransom, N. Y., 1891.)

Kropotkin, Peter H.: La conquête du pain. Paris, 1892.

Parôles d’un révolutionaire.

Autour d’une vie. Paris, 1903. 2 vols. 1899(?).

L’anarchie, sa philosophie, son idéal. 1905(?).

Memoires d’un révolutionaire.

Fields, Factories, and Workshops. London, S. Sonnenschein, 1901.

Malato, Ch.: De la commune à l’anarchie. Paris, Stock, 1894.

Mackay, John: Der Anarchisten.

Michel, Louis: La Commune. Paris, Stock, 1898.

Most, Johann Joseph: Die Lösung der sociale Frage. 1876. Memoiren, 2 Bde., N. Y., 1903.

Reclus, Elisée: L’évolution, la révolution et l’idéale anarchique. Paris, 1902.

Spencer, Herbert: Social Statistics (1st ed., containing chapter on right of individual to ignore the State).

Tucker, Benj.: Instead of a Book. N. Y., Tucker, 1893. (Reprinted under the title “State, Socialism, and Anarchism.” London, Reeves, 1895.)

Yarros, Victor: Anarchism, Its Aims and Methods. Boston, 1887.

(b) The Theory in Practice.

The programmes. — Organization. — Methods of propaganda. — The relation of anarchism to socialism. — To individualism. — Herbert Spencer and anarchism. — Psychology of the anarchist.

Bernstein, Ed.: Die sociale Doktrin des Anarchismus (in Neue Zeit, Jahrg. 10, Bd. 1-2).

Basch, V.: L ‘individualisme anarchiste. Alcan, 1904.

Dubois, Felix: Le péril anarchiste. Paris, 1894. (Eng. trans.: The Anarchist Peril. Unwin, 1894.)

Garan, J.: L’anarchie et les anarchistes. Paris, 1885.

Ghio, Paul: L’anarchie aux Etats Unis. Paris, Colin, 1903.

Hamon, A.: Le psychology de l’anarchiste socialiste. Paris, Stock, 1895.

Lombroso, Cesare: Gli anarchici. Turin, 1894.

Plechanoff, G.: Anarchismus und Sozialismus. Berlin, 1894. (Eng. trans.: Anarchism and Socialism. Chicago, Chas. H. Kerr & Co.)

Shaw, Bernard: The Impossibilities of Anarchism. Fabian Tract No. 46.

Simons, A. M.: Socialism vs. Anarchy. Chicago, Chas. H. Kerr & Co. (Pocket Lib. of Socialism.)

Zenker, E. V.: Der Anarchismus. Kritische Geschichte der anarchistischen Theorien. Jena, 1895. (Eng. trans.: Anarchism, a Criticism and History of the Anarchist Theory. Putnam, 1897.)

PART V.— SOCIAL REFORMS WITH LESS EXTENSIVE PROBLEMS.

1. Land Nationalization and Single Tax.

The doctrine. — Methods of reform proposed. — The founder of the Single Tax movement, and some facts of his life which throw light on his theories. — Economic and social results expected. — Critical examination of the doctrine. — Relation of socialists to these movements.

An Essay on the Right of Property in Land. 1782. Reprinted, London, 1891, under the title “Birthright in Land.”

Cox, H.: Land Nationalization. London, Methuen, 1892.

Dawson, W. H.: Unearned Increment. London, Swan Sonnenschein, 1890.

Hobson: Coöperation in the Land.

Moore: Back to the Land.

Simons, A. M.: Single Tax vs. Socialism, Chicago, Chas, H. Kerr & Co. (Pocket Lib. of Socialism.)

Stubbs, C. W.: Land and the Laborer. London, Swan Sonnenschein, 1891,

Thackeray, S. W.: The Land and the Community. N. Y., Appleton & Co., 1889.

Among good criticisms of the theory:

Hobson, J. A.: The Influence of Henry George in England. (Fortnightly Review, 1897, December.)

Schäffle, A.: Inkorporation des Hypothekencredits. Tübigen, 1883.

Smart, W.: Taxation of Land Values and the Single Tax.

Walker, Francis A.: Land and Its Rent. Little, Brown & Co., Boston, 1883. Pp. 141-182.

Publications of the “Land and Property Defense League.”

2. Coöperation.

Coöperation from the social reform point of view. — Coöperation and communism. — Coöperation and profit sharing. — The several kinds of coöperative societies. — The status of the coöperative movement in the leading nations of Europe and America. — The outlook for coöperation. — Arguments in favor of the movement. — Its weaknesses. — Socialists’ attitude toward it.

Bertrand, Louis: Histoire de la coöpération en Belgique.

Gide, Ch.: La Coöpération. Paris, Librarie de la société du Recueil genéral des lois et des arrêts et du Journal du palais. 1900.

Holyoake, G. J.: History of Coöperation in England. London, 1875-85. 2 vols.

Hughes, Thomas, and Neale, Edward V.: A Manual for Coöperators. Manchester, 1888.

Hubert-Valleroux, P.: La Coöpération. Paris, 1904.

Jones, Benjamin: Coöperative Production. Oxford, The Clarendon Press, 1894.

Pissamiglio: Distributive Coöperative Societies.

Van Marken: Industrial Social Organization. Delft., 1901.

Wright, Carrol D.: Manual of Distributive Coöperation. Boston, 1885.

On relation to Social Democracy:

Anseele, E.: “Socialism and Coöperation” in Ensor. Modern Socialism, pp. 284-301.

Gerhard, Adele: Konsumgenossenschaft und Sozialdemokratie. Nürnberg, Wörlein u. Co., 1895.

Kautsky, K.: Konsumverein u. Arbeiterbewegung. (Wiener Arbeiterbibliothek, Heft. 1) Vienna, 1897.

Milhaud, Ed.: La démocratie socialiste allemande. Pp. 442-517.

Reports and publications:

Annual reports of Coöperative Unions, of Coöperative Wholesale, of “Vooruit,” Maison du Peuple, etc.

Annual reports of Registrar of Friendly Societies.

Coöperative News, Manchester.

3. Trade-Unionism.

How far trade-unionism may justifiably be included in a study of social reform movements. — The objects of trade-unionism, and how these objects compare with the primary aims of other social reform movements. — The exact distinction between the “industrial democracy” this movement represents, and “social democracy,” and, in general, the relation between trade-unionism and socialism.

Herkner, Heinrich: Die Arbeiterfrage. Berlin, J. Guttentag, 1902.

Lange, Friedrich A.: Die Arbeiterfrage. Winterthur, 1879.

London, Jack: The Scab. Chicago, Chas. Kerr & Co. (Pocket Lib. of Socialism.)

Nicholson, J. S.: Strikes and Social Problems. (Essay on Labor Combinations and Competition.)

Troeltseh, W., and Hirschfeld, P.: Die deutschen Sozialdemokratischen Gewerkschaften. Berlin, Carl Heymanns Verlag, 1906.

Webb, Sidney and Beatrice: Industrial Democracy. 2 vols.

PART VI.— UTOPIANISM.

The relation of Utopianism to social reform. — The types of Utopian writings. — Some leading modern examples of Utopian plans, and their place in current reform movements. — The question of the utility of Utopianism.

Bellamy, Ed.: Looking Backward. 1870. London, Reeves & Co., 1888.

Equality. New York, Appleton, 1897.

Ellis, Havelock: The Nineteenth Century, an Utopian Retrospect. Boston, Small, Maynard & Co., 1901.

Hertzka, Theodor: Freiland. (Eng. trans.: Freeland. Translated by A. Ransom. N. Y., 1891.)

Hobson, J. A.: Edward Bellamy and the Utopian Romance. (Humanitarian, 1898. Vol. 13.)

Howells, W. D.: A Traveller from Altruria.

Kaufmann, M.: Utopias from Sir Thomas Moore to Karl Marx:. London, Paul, 1879.

Morris, Wm.: News from Nowhere. Longmans, 1896.

Wells, H. G.: A Modern Utopia. Chapman & Hall, 1905.

Source: University of California, Department of Economics. Topics and References for Economics 42: Contemporary Theories of Social Reform. Berkeley: The University Press, 1906. 29 pages.

Tags Peixotto

Chicago Economic History Suggested Reading Syllabus

Chicago. Reading list for Development of Monetary and Financial Institutions. Hamilton, 1960

Post author By Irwin Collier
Post date 2019-11-16

The papers of the economic historian Earl J. Hamilton are a grab-bag of archival treasure, poorly sorted and demanding from the historian an unlimited faith in the goodness of the gods of serendipity. This post is a course reading list that would have rested safe in the obscurity of Hamilton’s papers, but for a chance encounter. I have taken the liberty of assuming the course title for Economics 334 at the University of Chicago in 1959-60 would match that of 1956-57. The course reading list is a nice example of the intersection of economic history and the history of economics.

_____________________

Economics 334: Mr. Hamilton

Assignments to be read before May 20, 1960

Luigi Einaudi, “The Medieval Practice of Managed Currency,” in A.D. Gayer (Ed.), The Lessons of Monetary Experience, pp. 259-268. HG 255.L63
W. C. Mitchell, “The Role of Money in Economic Theory,” in The Backward Art of Spending Money, pp. 149-176. HB 33.M 68.
Adam Smith, Wealth of Nations, “Digression concerning Banks of Deposit, particularly concerning that of Amsterdam,” in Book IV, Chapter III, Part I. HB 161. S 65.
Earl J. Hamilton, American Treasure and the Price Revolution in Spain, Chapter XIII. H31.H33, v. 43
Earl J. Hamilton, “Prices and Wages at Paris under John Law’s System,” Quarterly Journal of Economics, Vol. LI, (1936-1937), pp. 42-70. HB1.Q3
Jacob Viner, Studies in the Theory of International Trade, Chapters III-V HF1007.V75
N. J. Silberling, “Financial and Monetary Policy of Great Britain during the Napoleonic Wars,” Quarterly Journal of Economics, Vol. XXXVIII (1923-24), pp. 214-33, 397-439. HB1.Q3, v.38
Lloyd W. Mints, History of Banking Theory, Chapter IV. HG1586.M6
Walter Bagehot, Lombard Street. HG3000.L82B3
R. S. Sayers, “The Question of the Standard in the Eighteen-Fifties,” Economic History (a supplement to the Economic Journal), Vol. II, pp. 575-601. HB1.E31
Rufus S. Tucker, “The Myth of 1849,” in C.O Hardy, Is There Enough Gold? Appendix A, pp. 177-199. HG289.H28.
J. H. Clapham, The Bank of England, Vol. II, Chapters VI-VIII and Epilogue. HG2996.C6
Knut Wicksell, “The Influence of the Rate of Interest on Prices,” Economic Journal, Vol. XVII (1907), pp. 213-220. YW16 (reprint)
O. M. W. Sprague, Crises under the National Banking System, Washington, 1910, pp. 1-107. HB3743.S7
John Stuart Mill, Principles of Political Economy, Book III, Chapter XII. HB171.M635, M636, M644, M653.
Charles F. Dunbar (Revised and edited by O. M. W. Sprague), The Theory and History of Banking, Chapters VIII (“The English Banking System”), IX (“The French Banking System”), X (“The German Banking System”), XI (“The National Banks of the United States”). HG1586.D9
J. M. Keynes, A Tract on Monetary Reform, Chapters I-II, IV-V. HG221.K4
J. M. Keynes, A Treatise on Money, Vol. II, Chapter 30. HG221.K422.

There will be an hour examination on April 29, 1960 covering 1-18 and the lectures.

Alfred Marshall, Money, Credit, and Commerce, Books II, IV, and Appendix A. HG221.M35
J. M. Keynes, Essays in Persuasion, Part II, Chaps. 1 and 3; Part III, Chapter 5; Part V, Chapter 2. In the London, 1933 edition these chapters cover pages 77-79, 105-17, 244-70, 358-73. HC57.K471.
D. H. Robertson, Essays in Monetary Theory, Chaps. I and XII. HB 171.R544.
Fred H. Klopstock, “Monetary Reform in Western Germany,” Journal of Political Economy, August, 1949. HB1.J7, v. 57.
J. M. Keynes, A Treatise on Money, Vol. II, Chaps. 35 and 37. HG221.K422
Earl J. Hamilton, “Prices and Progress,” Journal of Economic History, XII (1952), pp. 325-49.
J. M. Keynes, The General Theory of Employment, Interest and Money, Chapter 23. HB171.K46
Official Papers by Alfred Marshall, pp. 3-16. HG171.M318.
The Federal Reserve System: Purposes and Functions
Rondo E. Cameron, “The Credit Mobilier and the Economic Development of Europe,” Journal of Political Economy, LXI (1953), pp. 461-88.

There will be a three-hour final examination (9:00-12:00) on May 27, 1960 covering all assignments and lectures.

Source: Duke University. David M. Rubenstein Rare Book and Manuscript Library. Earl J. Hamilton Papers. Box 2. Folder “Academic and Personal Correspondence 1950s-1970s; 1990; and n.d.”

Image Source: University of Chicago Photographic Archive, apf1-02446, Special Collections Research Center, University of Chicago Library.

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Economic History Exam Questions Harvard Suggested Reading Syllabus

Harvard. European Economic History from the Industrial Revolution. Gay, 1934

Post author By Irwin Collier
Post date 2019-11-13

A brief biography of Harvard economic historian and first Dean of the Harvard Business School, Edwin Francis Gay (1867-1946) is found in the earlier post for his course “Recent Economic History” that was also taught at Harvard in the 1934-35 academic year. Below we have the course announcement, enrollment figures, reading list, and final exam for the course on European Economic History from the Industrial Revolution.

______________________________

Course Announcement

Economics 2a ¹hf. European Economic History from the Industrial Revolution

Half-course (first half-year). Tu., Th., and (at the pleasure of the instructor) Sat., at 9. Professor Gay.

Source: Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1934-35, second edition. Published in Official Register of Harvard University, Vol. XXXI, No. 38 (September 20, 1934), p. 125.

______________________________

Course Enrollment

[Economics] 2a ¹hf. Professor Gay.—European Economic History since the Industrial Revolution.

Total 50: 3 Graduates, 21 Seniors, 17 Juniors, 8 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1934-35, p. 81.

______________________________

Assigned and Suggested Readings

ECONOMICS 2a
[pencil insert: 1934-5]

European Economic History from the Industrial Revolution

Hour Test on November 13 [Pencil insert: Extended to Nov. 15] will cover Groups I and II.

I. SOCIAL THOUGHT AND PROGRESS

A. V. Dicey—Law and Public Opinion in England (1908). Lectures 4-7 (Pages 62-258)

J. M. Keynes—The End of Laissez Faire. (1926)

G. Wallas—Life of Francis Place (1918). Chapters 1, 2, 3, 6, 7, 8 (pages 1-92, 157-240)

II. TRANSPORTATION

E. A. Pratt—A History of Inland Transport and Communication in England (1912). Chapters 8-22 (pages 51-311)

J. H. Clapham—Economic Development of France and Germany (1921). Chapters 5, 7, 12 (Pages 104-120, 140-157, 339-375)

III. AGRICULTURE

Lord Ernle—English Farming, Past and Present (3d edition, 1922). Chapters 17, 18

J. H. Clapham—Economic Development of France and Germany (1921). Chapter 9 (pages 195-231)

C. L. Christensen—Agricultural Cooperation in Denmark. Pages 9-54, 81-87

IV. TARIFF POLICY

P. Ashley—Modern Tariff History (1920). Part 1, Part 3 (pages 3-128, 269-355)

J. Morley—Life of Richard Cobden (1881). Chapters 6, 7, 10, 11, 13, 16 (pages 140-172, 209-247, 290-307, 355-389)

V. BANKING

A. Andreades—History of the Bank of England (1909). Vol. 1, part 4; Vol. 2, Introductory chapter and Part 1 (pages 161-294)

H. Feis—Europe The World’s Banker, 1870-1914 (1930). Part I; Part II; Part III, Chapters 12, 13 (pages 3-190-258-313)

VI. READING PERIOD ASSIGNMENT

Choose ONE of the following groups:

INDUSTRIAL DEVELOPMENT

P. Mantoux—The Industrial Revolution in the Eighteenth Century (English translation, 1928)

Part I, Chapter 2
Part II, Chapters 1, 2, 3
Part III, Chapters 1, 2, 3, 4
(pages 93-139-193-317, 349-489)

J. H. Clapham—Economic Development of France and German. Chapters 3, 4 (pages 53-103)

LABOR

S. & B. Webb—History of Trade Unionism (1920 edition). Chapters (in part) 2, 3, 4, 5, 7, 9, 10, 11 (pages 64-112, 153-179, 180-204, 249-298, 358-421, 472-546, 594-611, 634-676, 677-704)

Cambridge Modern History—Volume 12—Chapter 23—Social Movements (by Webb) (pages 730-765

BRITISH INDUSTRY AND CAPITAL

A. Siegfried—England’s Crisis (1933 edition)

L. H. Jenks—The Migration of British Capital to 1875 (1927). Chapters 1, 5, 7, 11. Pages 1-24, 126-157, 193-232, 326-336)

* * * * * * * * *

SUGGESTIONS FOR FURTHER READING—NOT ASSIGNED

A. Birnie—Economic History of Europe 1760-1930 (1930)

C. Day—Economic Development in Modern Europe (1933)

J. H. Clapham—An Economic History of Modern Britain—2 vol. 1926-32 [3 vols. 1926-1938]

L. Domeratzsky—The International Cartel Movement (1928)

R. J. S. Hoffman—Great Britain and the German Trade Rivalry 1875-1914 (1933)

P Fitzgerald—Industrial Combination in England (1927)

L. C .A. Knowles—The Economic Development of the British Overseas Empire, 2 vols. (1924-1930)

F. L. Nussbaum—A History of the Economic Institutions of Modern Europe (1933)

H. M. Robertson—Aspects of the Rise of Economic Individualism (1933)

L. C .A. Knowles—Economic Development in the Nineteenth Century (1932)

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 2, Folder “Economics 1934-1935”

______________________________

1934-35
HARVARD UNIVERSITY

ECONOMICS 2a¹
[Final. 1935.]

Comment briefly on THREE of the statements in part I, and discuss more fully TWO of the questions in Part II.

Part I

“During the period 1785-1802 there was an increase rather than a decrease of the yeomen proper in England.”
“The Industrial Revolution was responsible for a decrease in the number of yeomen.”
“The solution for the problem of agricultural distress is to be found, as the example of Denmark clearly shows, not in protective tariffs but in coöperative organization.”
“The Bank was right in 1811 in rejecting the main recommendations of the Bullion Committee and in thereby refusing to follow the counsels of doctrinaires.”
“The Trade Union of today is a direct descendant of the old Gild.”
“The fact that the landlords supported the Factory Acts and that the manufacturers agitated for the repeal of the Corn Laws indicates that both of these powerful antagonists desired the welfare of the working class and that this class, as yet unenfranchised, wielded great political power.”

Part II

“It was the increase of population which rendered necessary the Industrial Revolution.” (Lewinski.)
“The cotton industry by its demand for the labor of women and children was chiefly responsible for the great increase of population in the towns during the generation and a half preceding the Reform Bill.”
Comment and give your own view concerning the movement of population in Great Britain and its relation to the Industrial Revolution.
“The community as a whole benefits more by falling than by rising prices.” (Layton.)
Is this statement supported by the experience of England in the nineteenth century?
Show the chief difference (giving reasons therefor) between France and Germany in railroad development and control.
“The manifold connections and activities of British commerce and finance achieved for Great Britain in their freedom a vigorous expansion.” (Feis) Explain and exemplify.
Summarize concisely:
1. Bullion Report.
2. New Unionism.
3. Cobden Chevalier Treaty.
4. Méline Tariff.
5. Bank Act of 1844.
6. Taff Vale Case.

Source: Harvard University Archives. Mid-year examinations, 1852-1943. Box 12. Volume: Examination Papers. Mid-Years, 1934-35.

Image Source: Edwin Francis Gay in Harvard Class Album 1934.

Tags Gay

Exam Questions Harvard Suggested Reading Syllabus

Harvard. Economics of Mobilization and War. Syllabus, exam questions. Harris, 1952

Post author By Irwin Collier
Post date 2019-11-06

Just as the Harvard economics department saw it fit to offer a course on the economic aspects of war at the start of the Second World War, there was a course on the economics of mobilization and war at the time of the Korean War taught by Seymour Harris, who had organized the earlier departmental course on war economics in 1940. Enrollment numbers for courses taught during the academic year 1951-52 were not included in the Harvard College Report of the President, so I am unable to include that information in this post. However, we have the course catalogue description, course reading list, and the final examination as transcribed below.

________________

Course Description

Economics 120. Economics of Mobilization and War

Half-course (spring term). Mon., Wed., and (at the pleasure of the instructor) Fri., at 12. Professor Harris.

This course deals with the following problems on both a historical and current basis: the allocation of resources; income policies; the financing problems; the avoidance of inflation; the incidence of inflation; the relevance of controls; international aspects.

Source: Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1951-52. Official Register of Harvard University, Vol. XLVIII, No. 21 (September 10, 1951) p. 77.

________________

Course Syllabus and Readings

Spring Term 1951-52
Economics 120
Economics of Mobilization and War

*Books to be bought

I. Introduction (1 week)

Nature of the problem: mobilizations of World War II and the 1950’s
Three models: peacetime economy, mobilization economy, war economy
Real costs and money costs
Prospects for the civilian standard of living

Reading

*1. Harris: Economics of Mobilization and Inflation, Ch. 1 (pp. 3-25)
2. Keynes: How to Pay for the War, Chs. 1, 2 (pp. 1-12)
3. Hart: Defense Without Inflation, Ch. 9 (pp. 165-185)
4. Pigou: The Political Economy of War, Ch. IV (pp. 47-55)

II. The Problem in Real Terms: Optimal Division of Resources (3 weeks)

Allocation of resources, manpower, and facilities; changing nature of output
International aspects
Production scheduling; “bottlenecks”
Administration of military procurement

Reading

1. Pigou: The Political Economy of War, Ch. III (pp. 29-47)
2. Harris: Economics of Mobilization and Inflation, Chs. 2-6 (pp. 25-85)
3. Office of Defense Mobilization: Three Keys to Strength (Third Quarterly Report to the President) or subsequent reports.
*4. Chandler and Wallace: Economic Mobilization and Stabilization, Chs. 4, 5 (pp. 91-136)

III. The Problem in Money Terms: Adequate Funds Without Runaway Inflation (3 weeks)

Financing the War; the “inflationary gap”
Why is inflation harmful? Uneven incidence of inflation
The Fiscal Policy attack on inflation
The Direct Controls attack on inflation
Interrelatedness of Fiscal Policy and Direct Controls

Reading

1. Keynes: How to Pay for the War, Ch. 2 (above)
2. Pigou: The political Economy of War, Chs. VII, VIII (pp. 72-94)
3. Harris: Economics of Mobilization and Inflation, Chs. 7-10, 18, 19, 22 (pp. 85-119; 197-214; 245-256)
4. Hart: Defense Without Inflation, Chs. 1, 4 (pp. 3-18, 59-77)
5. Galbraith: A Theory of Price Control, Chs. 4, 5, 6, 7, 8 (pp. 28-75)
6. Scitovsky, Shaw and Tarshis: Mobilizing Resources for War, Ch. 2 (pp. 101-144) and pp. 145-149 of Ch. 3
7. Chandler and Wallace: Economic Mobilization and Stabilization, pp. 34-59 and Ch. 26 (pp. 569-592)
8. Harris: Price and Related Controls in the United States, Ch. II (pp. 29-38)

IV. Fiscal Policy: Its Implementation and Effects (3 weeks)

Funds for financing mobilization: taxes or loans?
Reducing aggregate demand: taxes, savings, or deferred payment?
Burden of the public debt

Reading

1. Pigou: The Political Economy of War, Chs. VII VIII (above)
2. Harris: Economics of Mobilization and Inflation, Chs. 11-17, Chs. 22-24 (pp. 119-197, 245-286)
Chandler and Wallace: Economic Mobilization and Stabilization, Part III and Ch. 15 (pp. 180-272, 273-315)
4. Keynes: How to Pay for the War, Ch. V (pp. 27-34)

V. Direct Controls: Principles and Techniques (3 weeks)

Allocation of resources: priorities
Price control, rationing, wage control, rent control
Costs, prices, subsidies, supplies
International Aspects

Reading

1. Hart: Defense Without Inflation, Ch. 5 (pp. 78-97)
2. Harris: Price and related Controls in the United States, Chs. III-VIII, XI, XII, XVIII, XXI, XXII, XXV, XXVII
3. Galbraith: A Theory of Price Control, Ch. 8 (above)
4. Harris: Economics of Mobilization and Inflation: Ch. 20, 21 (pp. 214-245)

VI. Summary and Alternative Policies

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 5, Folder “Economics, 1951-1952 (1 of 2)”.

________________

Reading Period Assignment

HARVARD UNIVERSITY
Department of Economics
Reading Period Assignments
May 5 – May 24, 1952

Economics 120:

Bureau of the Budget: THE U.S. AT WAR. Chs. 5 through 7, 9 through 12, 15 and 16.

D. N. Chester (Ed.): LESSONS OF THE BRITISH WAR ECONOMY.

Baruch: AMERICAN INDUSTRY IN THE WAR, First Annual Report of the Activities of the Joint Committee on Defense Production. Read 250 pages dealing primarily with stabilization agencies. (Superintendent of Documents)

Joint Committee on the Economic Report: MONETARY POLICY AND MANAGEMENT OF THE PUBLIC DEBT, Part I. Read either pp. 1-194 or 207-492.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 5, Folder “Economics, 1951-1952 (1 of 2)”.

________________

Final Examination
May 1952

1951-52
HARVARD UNIVERSITY
ECONOMICS 120

Instructions: Answer both questions in Part I, and any two questions in Part II.

Please write legibly!

Part I

(a) Summarize the “disequilibrium system” and the “pay-as-you-go” approaches to stabilization. What are the advantages and disadvantages of each as applied to the current mobilization period? (20 points)
(b) Most practicable programs involve some combination of direct and indirect controls. Discuss the theoretical bases for monetary, fiscal, and direct controls, respectively, and explain clearly the theoretical interrelatedness of these measures. (20 points)
Write a critical summary of some phases of your reading period assignment. (10 points)

Part II

(a) Indicate briefly—by chart, if you prefer—the organizational hierarchy of the present mobilization and stabilization agencies and summarize briefly the function of each agency. (5 points)
(b) Summarize the economic issues of the current Steel Case. Include in your answer such points as the WSB recommendations, the criteria for the recommendations, controversial issues, etc. (20 points)
Define or identify and then discuss the significance of five (5) of the following: (5 points each)
(a) Low end problem
(b) Formula pricing
(c) Controlled Materials Plan
(d) Little Steel Formula
(e) Differential pricing
(f) Margin of tolerance and the Inflationary Gap
(g) Simplification programs
(h) Priority inflation
(i) Export controls
Outline the major economic institutions of the ideal “free enterprise” system and indicate what functions they perform. How are these functions carried out in a war economy such as the current one? (25 points)
Discuss the problems which mobilization brings to the following areas:
(a) Agriculture (5 points)
(b) National Debt Management (10 points)
(c) Welfare Expenditures (10 points)

Source: Harvard University Archives. Final Examinations, 1853-2001. Box 27. Faculty of Arts and Sciences. Papers Printed for Final Examinations: History, History of Religions, …, Economics, …, Air Sciences, Naval Science. June, 1952.

Image Source: Seymour Harris in Harvard College, Class Album 1957, p. 67.

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Course Enrollment (Second term, 1956-57

Typed notecards for an introduction to or a review of course.

The traditional arguments regarding the purposes of Monetary Policy:

The following limitations, some real, other imaginary, explain why Fiscal Policy is not as simple as Lerner makes it:

READING LIST 14.472 Fiscal Policy Spring Term 1956-57

Professor E. D. Domar

FINAL EXAMINATION 14.472 Fiscal Policy Monday, May 20, 1957

E. D. Domar

Course Description (1951)

Course Reading Assignments

Economics 334

Economics 334

Enrollment

HARVARD UNIVERSITY Department of Economics

Economics 111a Normative Aspects of Economic Policy Spring Term: 1959-60

Other References on the Concept of Social Welfare and Optimum Conditions

HARVARD UNIVERSITY Department of Economics

Economics 111a Final Examination

Economic Theory. Edward Hastings Chamberlin

Course Enrollment

Course Description

Economics 101

1941-42

First Semester

1941-42 HARVARD UNIVERSITY ECONOMICS 101 Mid-year examination, 1942.

Economics 101

1941-42

Second Semester

1941-42 HARVARD UNIVERSITY ECONOMICS 101 Final examination, 1942.

On Alfred H. Conrad and his wife, poet, Adrienne Rich

American Economic Association Member Biographic Entry, 1969

Course Description

Course Enrollment

Economics 124 NATIONAL INCOME AND ITS DISTRIBUTION Fall, 1958

HARVARD UNIVERSITY ECONOMICS 124 FINAL EXAMINATION January 16, 1959

Handwritten: Economics Seminar. March-May 1937 (Signatures of student participants. Note: “not complete”)

Origin of the seminar

Secular and Structural Changes in a Modern Economy From Mitchell’s handwritten notes for the first meeting Sept. 28, 1937

Mode of conducting course

1st assignment

Handwritten draft of course announcement

Cumulative Changes in Economic Processes

Course Announcement 1937-38

Course Announcement 1938-39

TENTATIVE OUTLINE FOR COURSE ON CUMULATIVE CHANGES IN ECONOMIC PROCESSES

Introduction: The theoretical, the historical, and the statistical approaches to the study of Economic Changes.

Classification of investigations available for the study of economic changes

Among the books to be consider for assignment the following are possibilities:

CUMULATIVE CHANGES IN A MODERN ECONOMY

PART I—Cumulative Changes in Economic Institutions

PART II—Cumulative Changes in the Short-Run

Literature

PART III: The Interrelations of Economic Institutions and Market Phenomena

Literature

OUTLINE Secular and Structural Changes in a Modern Economy

OUTLINE Secular and Structural Changes in a Modern Economy.

[Pencil: “April 1937”]

SECULAR AND STRUCTURAL CHANGES IN A MODERN ECONOMY

OUTLINE

I

THE STUDY OF ECONOMIC CHANGE

II

III

MIGRATION AND LOCATION OF PEOPLE AND INDUSTRY

IV

THE BUSINESS UNIT

V

PSYCHOLOGY AND SOCIAL CLASSES

VI

TECHNOLOGY

VII

THE LEGAL FRAMEWORK

VIII

THE GOVERNMENT

IX

DYNAMICS OF THE MARKET

X

CUMULATIVE FACTORS

Jessica Blanche Peixotto, Economics: Berkeley 1864-1941 Professor of Social Economics, Emeritus

JESSICA BLANCHE PEIXOTTO 1864 – 1941 by Judith R. Baskin

Course Enrollment
(Second term, 1956-57

READING LIST
14.472 Fiscal Policy
Spring Term 1956-57

FINAL EXAMINATION
14.472 Fiscal Policy
Monday, May 20, 1957

HARVARD UNIVERSITY
Department of Economics

Economics 111a
Normative Aspects of Economic Policy
Spring Term: 1959-60

HARVARD UNIVERSITY
Department of Economics

Economics 111a
Final Examination

Economic Theory.
Edward Hastings Chamberlin

1941-42
HARVARD UNIVERSITY
ECONOMICS 101
Mid-year examination, 1942.

1941-42
HARVARD UNIVERSITY
ECONOMICS 101
Final examination, 1942.

American Economic Association
Member Biographic Entry, 1969

Economics 124
NATIONAL INCOME AND ITS DISTRIBUTION
Fall, 1958

HARVARD UNIVERSITY
ECONOMICS 124
FINAL EXAMINATION
January 16, 1959

Handwritten: Economics Seminar. March-May 1937
(Signatures of student participants. Note: “not complete”)

Secular and Structural Changes in a Modern Economy
From Mitchell’s handwritten notes for the first meeting
Sept. 28, 1937

1^st assignment

Course Announcement
1937-38

Course Announcement
1938-39

OUTLINE
Secular and Structural Changes in a Modern Economy

OUTLINE
Secular and Structural Changes in a Modern Economy.

SECULAR AND STRUCTURAL CHANGES
IN A
MODERN ECONOMY

Jessica Blanche Peixotto, Economics: Berkeley
1864-1941
Professor of Social Economics, Emeritus

JESSICA BLANCHE PEIXOTTO
1864 – 1941
by Judith R. Baskin

UNIVERSITY OF CALIFORNIA
DEPARTMENT OF ECONOMICS

TOPICS AND REFERENCES FOR
ECONOMICS 42
CONTEMPORARY THEORIES OF SOCIAL REFORM

BERKELEY: THE UNIVERSITY PRESS
1906

ECONOMICS 2a
[pencil insert: 1934-5]

1934-35
HARVARD UNIVERSITY

ECONOMICS 2a¹
[Final. 1935.]

Spring Term 1951-52
Economics 120
Economics of Mobilization and War

HARVARD UNIVERSITY
Department of Economics
Reading Period Assignments
May 5 – May 24, 1952

Final Examination
May 1952

1951-52
HARVARD UNIVERSITY
ECONOMICS 120