Category: Wisconsin

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Wisconsin. Richard Ely, series editor of Social Science Textbooks for Macmillan

 

Following his series Citizen’s Library of Economics, Political Science and Sociology, Richard Ely of the University of Wisconsin then served as general editor for the series of social science textbooks published by Macmillan into the 1930s. I have been able to provide links to all but two of the titles (and the 1937 edition of Ely’s own economics textbook).

_______________________

SOCIAL SCIENCE TEXT-BOOKS
Edited by Richard T. Ely
New York: Macmillan

OUTLINES OF ECONOMICS [Third revised edition, 1916]
By Richard T. Ely, Ph.D., LL.D. Revised and enlarged by the Author and Thomas S. Adams, Ph.D., Max O. Lorenz, Ph.D., Allyn A. Young, Ph.D.

OUTLINES OF ECONOMICS [Sixth edition, 1937]
By Richard T. Ely and Ralph H. Hess

OUTLINES OF SOCIOLOGY [1919]
By Frank W. Blackmar, Ph.D., and John Lewis Gillin, Ph.D.

THE NEW AMERICAN GOVERNMENT [1915]
By James T. Young, Ph.D.

SOCIAL PROBLEMS [1917]
By Ezra T. Towne, Ph.D.

PROBLEMS OF CHILD WELFARE [1919]
By George B. Mangold, Ph.D.

COMPARATIVE FREE GOVERNMENT [1915]
By Jesse Macy, LL.D., and John W. Gannaway, M.A.

AMERICAN MUNICIPAL PROGRESS [New and revised edition, 1916]
By Charles Zueblin.

BUSINESS ORGANIZATION AND COMBINATION [1913]
By Lewis H. Haney, Ph.D.

HISTORY OF ECONOMIC THOUGHT (Revised Edition) [1922]
By Lewis H. Haney, Ph.D.

APPLIED EUGENICS [1922]
By Paul Popenoe and Roswell H. Johnson, M.S.

AGRICULTURAL ECONOMICS [1920]
By Henry C. Taylor, M.S. Agr., Ph.D.

THE LABOR MARKET [1919]
By Don D. Lescohier.

EFFICIENT MARKETING FOR AGRICULTURE [1921]
By Theodore Macklin, Ph.D.

A HISTORY OF TRADE UNIONISM IN THE UNITED STATES [1922]
By Selig Perlman, Ph.D.

INTERNATIONAL COMMERCIAL POLICIES [1923]
By George M. Fisk, Ph.D., and Paul S. Peirce, Ph.D.

WORKMEN’S COMPENSATION [1924]
By E. H. Downey

INTRODUCTION TO AGRICULTURAL ECONOMICS [1927]
By Lewis Cecil Gray, Ph.D.

GENERAL SOCIAL SCIENCE [1926]
By Ross L. Finney, Ph.D.

OUTLINES OF PUBLIC UTILITY ECONOMICS [1927]
By Martin C. Glaeser, Ph.D.

MATERIALS FOR THE STUDY OF PUBLIC UTILITY ECONOMICS [1930]
By Herbert B. Dorau

AN OUTLINE OF ADVERTISING [1933]
By G. B. Hotchkiss, M.A.

 

Image: From the portrait of Richard Theodore Ely painted during the summer of 1923. Wisconsin Historical Society.

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Columbia. Economics Ph.D. Alumnus, James Walter Crook, 1895

 

This posting is another in the irregular series, “Get to know an economics Ph.D. alum”. I stumbled upon Professor James Walter Crook’s photo while working on the previous autobiographical posting for John Maurice Clark who was a student of his at Amherst and later a colleague. Crook spent a year in Berlin as a student and overlapped with W.E.B. Du Bois there and to whom we see below he had been introduced.

____________________

James Walter Crook (1859-1933)
Columbia Ph.D., 1895

James Walter Crook was born Dec. 21, 1859 in Ontario, Canada. His family emigrated to the U.S. in 1868. According to the 1880 U. S. Census he was the Census Enumerator for the 1st Ward of the City of Manistee in Manistee county, Michigan where he (21 years of age) lived with his mother and six younger brothers.  While a few younger brothers were  registered employed in a saw mill, James Walter Crook was listed as attending school. He married Eva Maria Lewis Sept 16, 1881 in Manistee. His occupation was “school teacher” according to the record of marriage.

Crook received his B.A. from Oberlin College in 1891 where he stayed on as a history instructor the following year. This was followed by a year of graduate work at the University of Wisconsin where he was listed as a Fellow in Economics, 1892-93.

He studied at the University of Berlin in 1893-94 where he happened to be introduced to W. E. B. Du Bois, himself an American student in Berlin. In Dubois’ papers there is a letter Crook wrote (January 21, 1905): “I suppose you do not remember me, but I recall with pleasure my meeting you in Berlin, Germany introduced by our mutual friend Knowlton, now of Fargo, N. Dakota.” In particular Crook was looking for advice regarding a sociological survey he wished to conduct among the ca. 200 African-Americans living in Amherst (population about 3,000 total).

After Germany Crook went on to do graduate work at Columbia University in 1894-95. The next year he was hired to teach Political Economy at Amherst where he worked through retirement.  Crook was awarded a Ph.D. from Columbia in 1895, publishing his dissertation as German Wage Theories: A History of Their Development. Vol. IX, No. 2 of Studies in History, Economics and Public Law. New York: Columbia University, 1898.

According to the U.S. Census reports he and his wife Eva lived at  21 Main Street in Amherst for at least the four censuses 1900-1930.

James Walter Crook, died in Springfield, MA 1933.

Source: From faculty pages in the Amherst College Yearbook, Olio, 1905, page 24. Also the Dubois papers at the University of Massachusetts and U.S. Census reports.

________________________

PROFESSORS OF POLITICAL ECONOMY
Amherst College (1877-1910)

1877

 Anson Daniel Morse, LL.D. 1878
1892 John Bates Clark, Ph.D.

1895

1892

 Charles Augustus Tuttle, Ph.D., Associate Political Economy and International Law 1893
1895 James Walter Crook, Ph.D., Assistant

1899

1899

 James Walter Crook, Ph.D., Associate 1907
1907 James Walter Crook, Ph.D.

1908

 Glover Dunn Hancock, Ph.D., Assistant 1910
1910 John Maurice Clark, Ph.D., Associate

 

Source:   General Catalogue of Amherst College including the Officers of Government and Instruction, the Alumni and Honorary Graduates, 1821-1910. Amherst, Mass., p. 9.

Image Source: From faculty pages in the Amherst College Yearbook, Olio, 1905, page 24.

 

 

 

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Harvard. Memo on Master’s degree requirements in ten other departments, 1935

 

The following memo was found in the papers of the Harvard department of economics outlining the formal requirements for the award of a master’s degree in economics for ten other departments ca. 1935.  Harvard requirements for 1934-35 have been previously posted here at Economics in the Rear-View Mirror.

____________________

REQUIREMENTS FOR A.M. IN ECONOMICS

University of Chicago
—Catalogue Vol. XXV, March 15, 1935—
No. 7, p. 293.

“The specific requirements for the Master’s degree are:

  1. A minimum of 8 courses, or their equivalent (of which at least 6 must be in Grades II and III above*). Either in his undergraduate or graduate work the candidate should cover the substantial equivalent of the requirements for the Bachelor’s degree in economics…(May be shown by examination.)
  2. A thesis involving research of at least semi-independent character.
  3. A final examination (either oral or written at discretion of the department). The examination is on the thesis and its field and on one other field chosen by the candidate.
  4. All candidates…are expected to show ability to think clearly…on abstract economic questions, and familiarity with terms and common concepts of economic science.

No language requirement for A.M. apparently.

No set time limit, but (p. 282) they seem to regard three of work in economics (either as graduate or as undergraduate) as “normal preparation” although “exceptionally capable” students may do it in less time.

* Grade II and III being respectively survey and problem courses (II), and Research, reading and seminar courses (III). Grade I includes intermediate courses.

 

Stanford University

  1. One academic year of graduate work (A “normal time” but also minimum).
  2. Thesis
  3. Examinations (general or final and at discretion of department).

 

Cornell University

  1. At least one full year of residence at Cornell.
  2. “No student may be admitted to candidacy for any of the degrees of A.M., M.S.,…, or Ph.D. whose training has not included work in a foreign language equivalent to three units of entrance in one language or two in each of two languages.
  3. A thesis or (at departmental discretion) an essay.
  4. Written or oral (at departmental discretion) final examination.

He must show a knowledge of:

Three special fields, such as: in Economic Theory and History:

(1) Good general knowledge of history of economic thought, including classical school and contemporary.
(2) Familiarity with economic analysis and controversial area of economic thought.
(3) A background knowledge of social and intellectual history.

or in Monetary Theory:

One requirement:
(1) A detailed understanding of the theory and history of money; monetary system of the United States, theory and history of banking; banking system of United States, foreign exchange, monetary aspects of cyclical fluctuations.

No specific course requirements as far as I can see.

 

University of Minnesota

  1. At least one full academic year’s work (in residence).
  2. Thesis required.
  3. Nine credit hours each quarter of graduate courses for three quarters.
  4. He must have done in three years (undergraduate) work in his major subject if it is open to freshmen, or two years otherwise.
  5. A reading knowledge of a foreign language to be determined by the department is necessary.
  6. An examination.

 

University of Michigan

  1. Residence requirement: One semester and one summer session, or three summer sessions; nine hours work a semester and six hours a summer session are minimum to establish residence at the respective sessions.
  2. A minimum of 24 hours of graduate work is required (i.e. necessary but not alone sufficient).
  3. Thesis may be required at discretion of department (apparently economics does not require it).

 

University of Wisconsin

  1. At least two semesters’ work, at least one of which to be at Wisconsin.
  2. An oral examination.
  3. A thesis may be required of students seeking to specialize in a definite line of study.

 

Princeton University

“After Commencement Day, 1935, the degree of M.A. will be awarded only to a student who has passed the general examination for the Doctor’s degree.” This implies a knowledge of French and German; and implies not less than two years graduate study. The examination may be written, oral, or both. One year of residence is required.

 

Yale University

  1. Two full years of resident graduate study required (but may be in less time in exceptional cases where unusual scholarship is demonstrated).
  2. Reading knowledge of either French or German.
  3. An essay is required of all candidates.
  4. (Apparently) A comprehensive written examination in field of concentration in Department of Economics (it is not specified for which degree so that it seems to apply to both M.A. and Ph.D.).

 

Columbia University

  1. “The candidate shall have registered for and attended courses aggregating not less than thirty tuition points, distributed over a period of not less than one academic year or its equivalent.”
  2. “The candidate shall have satisfied the department of his choice that he has satisfied requirements specified by the department for the degree.” (May include courses, examination, an essay, seminars, or “other work”.)

 

University of California

“There are required 20 semester units and in addition a thesis.”

“At least eight of the 20 units must be strictly graduate work.”

“The student must spend one year of residence.”

Rate of taking units:

“Graduate students in the regular session taking only upper division courses are limited to a program of 16 units” (a semester or a year? probably a semester).

“Graduate students…taking only graduate courses are limited to 12 units.” Mixtures are regulated in proportion thereto.

 

Source: Harvard University Archives. Department of Economics, Correspondence and Papers 1930-1961. (UAV 349.11) Box 13, Folder “Graduate Instruction, Degree Requirements.”

 

 

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Courses Statistics Suggested Reading Wisconsin

Wisconsin. Seminary in Statistical Research. Harry Jerome, 1937-38

The University of Wisconsin-Madison's Carillon Tower in Madison -- Wisconsin's capital city.

 

Harry Jerome taught statistics in the economics department of the University of Wisconsin from 1915-1938. The following course materials for a research seminar that he taught were found in Milton Friedman’s papers at the Hoover Institution in a file “Student Years”. Since there is no indication of either university or instructor for these materials and with only the course number and academic year to go on, it seems likely that an archivist presumed these might have been from a course at Chicago or Columbia which can be clearly seen not to be the case upon consulting the respective course catalogues.

Possible explanations why Milton Friedman had this Wisconsin material was that he was recruited by Harold Groves as a potential successor to Harry Jerome in the economics department and the material was sent to him in the course of the recruitment or that Friedman came across the stuff in his review of statistics instruction at Wisconsin. In any event, given Friedman’s and Jerome’s common NBER connection, it is not surprising that a research seminar on Wisconsin income statistics would be something that Milton Friedman was naturally interested in.

______________________________________

 

Harry Jerome (1886-1938)

“Professor Harry Jerome, economist and author, was born March 7, 1886, to Sarah and Moses Jerome at Bloomington, Illinois, and died September 12, 1938, at Madison, Wisconsin. He graduated from the University of Wisconsin in 1914 and took his post-graduate work there, receiving his Ph.D. degree in 1918.

He was instructor in economics from 1914 to 1918 at Wisconsin. From that year until his death in 1938 he held the position of professor of economics at Wisconsin, and was chairman of the economics department from 1931 until 1936.

In 1919 and 1920 Jerome was district assessor of incomes for the Wisconsin State Tax Commission. He was a member of the staff of the National Bureau of Economic Research from 1923 to 1925, and was one of the directors of that organization for many years. He also served as a member of the advisory board for an income tax study by the Wisconsin Tax Commission. From 1936 he was consultant for a survey of productivity and changing industrial techniques by the Federal Works Progress Administration in cooperation with the National Bureau of Economic Research.

Jerome was the author of three books, Statistical Methods (1924), Migration and Business Cycles (1926), and Mechanization In Industry (1934).”

Source: Harry Jerome Papers, Finding Aid. Wisconsin Historical Society.

 

Research Tip: Boxes 5 and 6 of Harry Jerome’s papers at the Wisconsin Historical Society  have material on the NBER and the Wisconsin department of economics.

______________________________________

 

Course Announcement

[Econ.] 230. SEMINARY IN STATISTICAL RESEARCH. Yr; 2 cr. Cooperative research in one or more economic problems, each member of the class concentrating on a selected phase of the common subject. Subject for 1937-38: amount and distribution of wealth and income, with special attention to Wisconsin. Reports on current developments in statistical method. Fee $1.00. 7:15-9:15 Th. Mr. Jerome.

Source: Copy of page 148 from the course catalogue of the University of Wisconsin College of Letters and Science for 1937-38 that was provided Economics in the Rear-View Mirror by fellow historian of economics Professor Marianne Johnson of the College of Business, University of Wisconsin, Oshkosh.

______________________________________

Course Materials from Econ 230, University of Wisconsin
1937-38

TREATISES ON NATIONAL INCOME AND THE FORMATION OF CAPITAL

List for Review in Econ. 230, 1937-38

  1. W. I. King, The Wealth and Income of the People of the United States.
  2. National Bureau of Economic Research: Vol. I, Income in the United States
  3. Same as (2) – Volume II.
  4. Federal Trade Commission, National Wealth and Income, 69th 1st. Sess. Sen. Doc. No. 126.
  5. W. I. King, The National Income and its Purchasing Power. (NBER)
  6. Maurice Leven, et al, America’s Capacity to Consume (Brookings)
  7. Robert F. Martin, National Income and its Elements (NICB)
  8. U. S. Department of Commerce:

National Income, 1929-36, supplemented by National Income, 1929-32, Sen. Doc. 124, 72d Cong. 2d Session, 1934; and National Income in the United States, 1929-35.

  1. Simon Kuznets, National Income, 1919-35, NBER Bul. 66, supplemented by bulletin on National Income and Capital Formation, (in press).
  2. Harold G. Moulton, The Formation of Capital (Brookings)
  3. Robert F. Martin, Income in Agriculture, 1929-35 (NICB)
  4. Colin Clark, National Income and Outlay (Great Britain)
  5. John A. Slaughter, Income Received in the Various States, 1929-35, (NICB)

 

GROUP A. ESTIMATES OF INCOME PRODUCED IN WISCONSIN, BY INDUSTRIES, 1929-1937

  1. Agriculture
  2. Manufacturing
  3. Construction
  4. Transportation

Railroads and other freight and passenger traffic

  1. Other public utilities
  2. Trade: wholesale and retail
  3. Finance
  4. Service occupations
  5. Government

 

GROUP B. SPECIAL PROBLEMS IN INCOME STATISTICS (WISCONSIN)

  1. A plan for estimating income and number of recipients below the reporting levels for income tax purposes.
  2. Methods of estimating income from currently available data, for tax administration purposes
  3. Distribution of income in Wisconsin by objects of expenditure
  4. Geographical distribution of Wisconsin income
  5. Interstate movement of income: to and from Wisconsin

 

GROUP C. STUDIES IN THE AMOUNT AND DISTRIBUTION OF WEALTH

  1. Estimates of distribution of wealth in a selected county or counties, based on probate records.

 

 

REPORTS FOR October 14, 21 and 28.

  1. A. L. Bowley, “The Definition of National Income”, Econ. Journal, vol. xxxii (1929), pp. 1-11.
  2. Simon Kuznets, “National Income”, in Encyclopedia of the Social Sciences, Vol. II, pp. 205-224.
  3. J. Stamp, “Methods used in different countries for estimating national income; with discussion. Royal Statistical Society Journal. 97 No. 3: 423-66; no. 4: 541-57.

Papers in Studies in Income and Wealth (as yet unpublished [NBER, 1937])
by the Conference on Research in National Income and Wealth:

  1. Gerhard Colm, “Public Revenue and Public Expenditure in National Income”
  2. M. A. Copeland, “Concepts of National Income”
  3. Solomon Fabricant, “On the Treatment of Corporate Savings in the Measurement of National Income”
  4. Simon Kuznets, “Changing Inventory Valuations and Their Effect on Business Savings and on National Income Produced”
  5. Solomon Kuznets, “Some Problems in Measuring Per Capita Labor Income”
  6. Carl Shoup, “The Distinction between ‘Net’ and ‘Gross’ in Income Taxation
  7. O. C. Stine, “Income Parity for Agriculture”

 

Source: Hoover Institution Archives. Papers of Milton Friedman. Box 5, Folder 12 “Student years”.

Image Source:University of Wisconsin’s Carillon Tower from Library of Congress Prints and Photographs Division Washington, D.C. 20540 .

 

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Exam Questions Suggested Reading Wisconsin

Wisconsin. Business Cycles. Readings and Exam. Friedman 1940-41

 

 

One of the courses taught by Milton Friedman in his year at the University of Wisconsin (1940-41) was on business cycles. A few charts and notes have survived from that course (in Milton Friedman’s papers at the Hoover Institution Archives) but also found in the same folder for that course are three pages of handwritten references that likely were readings for the course. These are listed below, most of which have been linked to the respective books/papers. The bibliographic data have been corrected and expanded where necessary. His incomplete notes, actually more of a log of the sessions, include a reference to “Mitchell & Burns, first chapter” for the third lecture “What is business cycle?”. I guess this must have been from an early draft of the 1946 NBER publication by Burns and Mitchell,  Measuring Business Cycles.

_______________________

Business Cycle Readings

Wesley Clair Mitchell. Business Cycles: The Problem and Its Setting. NBER, 1927. Chapter 2. Economic Organization and Business Cycles, pp. 61-188.

Friedrich A. Hayek. Monetary Theory and the Trade Cycle (translated by N. Kaldor and H. M. Croome). New York: 1933.
____________. Prices and Production. London: 1935.

R. G. Hawtrey. Currency and Credit. London: 1919, 1923, 1927.  First ed. 1919;  Second ed. 1923.

____________. The Art of Central Banking. London: 1932
____________. Capital and Employment, 1937

Ludwig von Mises. The Theory of Money and Credit, 1934 (based on second German edition of 1924). Yale University Press 1953 ed.

Lionel Robbins. The Great Depression, 1934.

W. Ropke. Crises and Cycles (Vera C. Smith, trans. and rev.). 1936.
____________.  “Trends in German Business Cycle Policy”, Economic Journal, Sept. 1933.

Knut Wicksell.  Interest and Prices (R. F. Kahn, trans.). London: 1936.
____________. Lectures on Political Economy (E. Classen, trans.). London: 1935.  Volume I;  Volume II.
____________. “Influence of Rate of Interest on Prices”, Economic Journal, June 1907.

Alvin Hansen, Full Recovery or Stagnation. New York: 1938.

Chap. 1. Keynes, pp. 13-34;
Ch VI & VII pp. 137-60 Purchasing power: government deficit financing in various forms including consumer reserves[?];
Ch XVI through XX, 267-329. The economic outlook, Interpretation of 1937 recession, consequences of reducing expenditure, [illegible word beginning with “P”] pricing[?], Investment outlets & secular stagnation, The Fear[?] of Inflation

Walter Salant’s contribution to the discussion of Chapter 4 (“The Volume and Components of Saving in the United States 1933-1937”) in Conference on Research in National Income and Wealth. Studies in Income and Wealth, Volume 3. NBER, 1939. Vol. III. pp. 305-15.

Gottfried Haberler. Prosperity and Depression. League of Nations, 1937. Chapter 2 “The Purely Monetary Theory”, pp. 14-28.

  1. C. H. Douglas, Social Credit. Edinburgh: 1924. Part II, Ch I & II, 78-107 [sic, pp. 89-122]
  2. J. A. Hobson, The Economics of Unemployment. London: 1922. Ch. II “The Failure of Consumptions”, pp. 29-42
  3. William Trufant Foster and Waddill Catchings. Profits. Boston: 1925. pp. 398-418
  4. J. E. Meade, An Introduction to Economic Analysis and Policy. London: 2nd ed, 1937. Ch. 1 “Can the Economic System Work?”, pp. 1-11.
  5. E. F.M. Durbin, Purchasing Power and the Trade Depression. Toronto, 1934. Ch. I-III, pp. 17-102

National Resources Committee. Consumer Expenditures in the United States: Estimates for 1935-36. Washington, DC: USGPO, 1939. App. C[?]

Lester V. Chandler, Introduction to Monetary Theory. New York, 1940. Ch VI & VII, pp. 115-83

 

______________________

ECONOMICS 176
Final Examination
January 30, 1941

  1. One device proposed for mitigating the severity of cyclical fluctuations is the concentration of governmental expenditures on public works in depressions, the extra expenditures at such times to be financed from surpluses accumulated during prior periods of prosperity, from borrowing, from the creation of new money, or from current taxes. Under what conditions, if any, would you recommend the adoption of this proposal? If adopted, what method of financing would you endorse? Justify your answers in detail. Discuss both the merits and demerits of the proposal and of the various methods of financing. Discuss also the observed features of cyclical fluctuations that make the proposal appear strategically desirable or undesirable.
  2. “The business cycle in the general sense may be defined as the alternation of periods of prosperity and depression, of good and bad trade.” Discuss.
  3. Distinguish between “a theory of business cycles” and a “description of the cyclical process”. What characteristics would an adequate cycle theory possess?
  4. Does the fact that there has not yet been developed an adequate cycle theory known to be consistent with the observed course of cyclical fluctuations mean that there is no basis for judging the desirability of governmental measures designed to mitigate cyclical fluctuations? Does it mean that society is condemned either to inaction or to irrational intervention? Give the reasons for your answers.

 

Source: Hoover Institution Archives. Papers of Milton Friedman. Box 75, Folder “University of Wisconsin, Econ. 176”.

Image Source:  Milton Friedman on the Columbia University 250th Anniversary Website.

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

 

 

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

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

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

____________________

 

TABLE 7c
Graduate majors in Economics – 29 institutions:

 

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

1

200-299

 0 0 2
150-199 3 4

5

100-149

 6 5 6
80-99 4 4

3

60-79

 5 7 5
40-59 6 4

4

20-39

 2 1 0
1-19 1 1

1
Number of departments reporting:

29

 28

27
Total number of students:

2,963

 3,057

3,118

____________________

 

TABLE 8C
Undergraduate majors in Economics – 29 institutions

 

1963-64 1964-65
300 and over 4

4

250-299

 1 1
200-249 3

2

150-199

 4 6
100-149 8

5

80-99

 1 1
60-79 2

1

40-59

 2 3
20-39 1

1

1-19

 1

1
Number of departments reporting:

27

25
Total number of students:

4,550

4,312

 

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

Image Source: quick meme website.

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

 

 

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

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

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

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

 

____________________

TABLE 6c

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

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

 

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

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

 

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

 

 

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

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

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

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

 

____________________

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

 

MID-POINT OF RANGE

 FROM TO
13,000 0

0

12,500

 0 0
12,000 0

1

11,500

 0 0
11,000 0

6

10,500

 0 7
10,000 5

6

9,750

 0 0
9,500 8

4

9,250

 1 0
9,000 8

2

8,750

 1 0
8,500 1

1

8,250

 0 0
8,000 3

0

N=

 27

27

 

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

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

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Berkeley Carnegie Institute of Technology Chicago Colorado Columbia Cornell Duke Economist Market Harvard Illinois Indiana Iowa Johns Hopkins M.I.T. Michigan Michigan State Minnesota North Carolina Northwestern NYU Ohio State Pennsylvania Princeton Purdue Rochester Salaries Stanford Texas Vanderbilt Virginia Wisconsin Yale

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

 

 

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

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

______________________

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

 

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

1964-65

Over 10,999

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

1

10,000

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

0

9,500

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

3

9,000

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

1

8,500

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

1

8,000

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

1

7,500

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

0

N=

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

$9,000

Mean

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

$8,913

 

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

 

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Assistant Professors’ Salaries in U.S. Economics Departments (3), 1964/5-1965/66

 

 

This is the third table from the so-called “Cartel” summary report from December 1965 of 9-10 month salaries paid in U.S. economics departments. Tables 3c give figures for the distribution of assistant professor salaries across the departments reporting. Last posting gave the distribution for full-professors and the distribution for associate professors. The next posting has the distribution for entering salaries for new Ph.D.’s. Refer to the first posting in this series of tables for information about the compiler Professor Francis Boddy of the University of Minnesota and a list of the 30 departments belonging to the Chairmen’s Group.

Also there is a table of the anticipated (as of December 1965) range of salaries to hire freshly completed PhD’s for the coming academic year, 1966-67.

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

____________________

TABLE 3c
ASSISTANT PROFESSORS 1965-66, 1964-65

(1)
Median Salaries
All Assistant Professors

MID-POINT
OF RANGE

 1965-66 1964-65
Over 11,249 0

1

11,000

 0 0
10,500 3

0

10,000

 7 1
9,750 2

0

9,500

 6 6
9,250 3

2

9,000

 4 5
8,750 1

6

8,500

 1 2
8,250 1

3

8,000

 1 2
7,750 0

0

7,500

 0 0
7,250 0

1

N=

 29 29
Median $9,500

$8,900

Mean

 $9,402

$8,936

 

 

TABLE 3c
ASSISTANT PROFESSORS 1965-66, 1964-65

(2)
Average Salaries
“Superior Assistance Professors”
(Top 1/3)

MID-POINT
OF RANGE

 1965-66 1964-65
Over 11,249 4

1

11,000

 3 2
10,500 8

5

10,000

 7 3
9,750 2

2
9,500 3 4
9,250 0

3

9,000

 1 3
8,750 1

3

8,500

 0 0
8,250 0

2

8,000

 0 0
7,750 0

0

7,500

 0 0
7,250 0

1

N=

  

29

  

29
Median $10,250

$9,500

Mean

 $10,333

$9,575

 

 

TABLE 3c
ASSISTANT PROFESSORS 1965-66, 1964-65

(3)
Average Salaries
“Average Assistant Professors”
(Lower 2/3)

MID-POINT
OF RANGE

 1965-66 1964-65
Over 10,749 0

1

10,500

 1 0
10,000 5

0

9,750

 2 0
9,500 4

3
9,250 7 1
9,000 2

8

8,750

 4 3
8,500 1

5

8,250

 2 3
8,000 1

1

7,750

 0 2
7,500 0

1

7,250

 0 1
N= 29

29

Median

 $9,300 $8,800
Mean $9,251

$9,063

 

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

Image Source: Brussells conference, cartel magnate (detail). Postcard from 1902. Library of Congress Prints and Photographs Division Washington, D.C. 20540 USA.