Joseph Schumpeter’s shadow was still cast over “his” Economics of Socialism course that was taken over by Harvard’s historian of political-economy, O. H. Taylor. This post provides the syllabus and final exam for Taylor’s course as taught in the second term of the 1952-53 academic year. The syllabus from the spring term of 1955 was posted earlier.
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Course Announcement, 1952-53
Economics 111. Economics of Socialism.
Half-course (spring term). Mon., Wed., and (at the pleasure of the instructor) Fri., at 10. Dr. O. H. Taylor.
A brief survey of the development of socialist groups and parties; pure theory of centralist socialism; the economics of Marxism; applied problems.
Source: Harvard University Archives. Courses of Instruction, Box 6, Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year, 1952-53, p. 99.
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HARVARD UNIVERSITY
Economics 111—Economics of Socialism
Spring Term, 1952-53
OUTLINE
- January 28-February 13: Socialist Thought Before Marx, and the Doctrines of Marx.
Reading:
1. H. Laidler, Social-Economic Movements, Chapters 8-16.
2. Burns, Handbook of Marxism, Chapter 1.
3. G. H. Sabine, History of Political Theory, Chapters on Hegel and Marx.
4. J. A. Schumpeter, Capitalism, Socialism, and Democracy, Part I.
5. P. M. Sweezy, Theory of Capitalist Development, Parts I and II.
Lectures:
Introduction. Pre-history of the socialist vision. Some “utopian” socialists. Hegel and Marx, philosophies of history. Marx’s economic interpretation of history. Ricardo and Marx, economic theories of production, class roles and incomes, value, and economic development.
Discussion: February 13.
- February 16-27: Marx, continued; and History of German and Other Continental European Socialism (Parties, Movements, and Ideas) to the First World War.
Reading:
1. P. M. Sweezy, Theory of Capitalist Development, Part II (continued).
2. Joan Robinson, Essay on Marxian Economics.
3. O. H. Taylor, “Schumpeter and Marx”, Quarterly Journal of Economics, November 1951.
4. H. Laidler, Social Movements, Chapters 19-23.
Lectures:
Marx’s economics (continued)—theory of capitalism’s (the economy’s) working, evolution, dilemmas, and degeneration, or life-cycle. Marx’s program—strategy and tactics—for the social movement, and ideas of the revolution and its sequel—stages of creation of the socialist society. Lasalle and Marx, and the German Social Democratic Party in the Age of Bismarck. Later history of the German party—Bernstein’s revisionism vs. Marxist orthodoxy. Other Continental European movements, parties, and ideas.
Discussion: February 27.
- March 2-13: Varieties of Socialist Thought and Effort, and the Labor Movement in England from 1815 to 1914.
Reading:
1. Max Beer, History of British Socialism, [Volume I] Part 2; [Volume II] 3, 4.
2. G. D. H. Cole, A Short History of the British Working Class Movement, Part I, Chapters 5-9; Parts II and III.
3. The Fabian Essays.
Lectures:
Early Nineteenth Century English radicalism and its varieties—Benthamism, Ricardian socialism (before Marx), Owenism, Chartism. The Christian socialists. Evolution of the trade unions. The Fabians and their philosophy and program. Other socialist societies and creeds. Formation and early history of the Labor Party and its program.
Discussion: March 13.
- March 16-27: The Internationals, the First World War, the Russian Revolution, Lenin, and Communism.
Reading:
1. H. Laidler, Social-Economic Movements, Chapters 24-27.
2. G. H. Sabine, History of Political Theory, Chapter “Communism”.
3. Burns, Handbook of Marxism, Chapters 22, 26, 29, 30.
4. P. M. Sweezy, Theory of Capitalist Development, Part IV.
Lectures:
The old socialist internationals; socialist internationalism and pacificism, the German and other parties, and the first World War. Czarist Russia, its radical parties, Lenin and the Bolsheviki, and the Russian Revolutions of 1917-18. Lenin’s policies and the early evolution of the Soviet regime; and Lenin’s theories, or “development” of Marxism. Theory of capitalism and imperialism. Modern Communist Marxism vs. democratic socialism.
Discussion: March 27.
Spring Recess
- April 6-17: Economic Theory and the Problems of Planning and Policy in a Socialist Economy.
Reading:
1. Schumpeter, Capitalism, Socialism, and Democracy, Part IV.
2. Lange-Taylor, Economic Theory of Socialism.
3. M. Dobb, Soviet Economic Development since 1917, Chapters 1, 13.
Lectures:
“Rational economic decisions” in competitive capitalism and in a socialist society; historic, intellectual background and development of the study of this problem. The Lange model of a liberal, competitive-market socialism. Dobbs and others on problems neglected in the Lange model. Critical remarks on the whole discussion—doubts of relevance for socialism of the bourgeois aim at “rational economy.”
Discussion: April 17.
- April 20-29: Economic Policies in Soviet Russia, and in England Under the Last Labor Government.
Reading: [blank]
Lectures: [blank]
Discussion: April 29.
Source: Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 5. Folder “Economics, 1952-53 (1 of 2)”.
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1952-53
HARVARD UNIVERSITY
ECONOMICS 111
[Final examination. May, 1953]
- Discuss the implications, and degrees of validity if any, of Marx’s description of the “socialisms”” of Fourier, Owen, etc. as “Utopian,” and of his own system as “scientific socialism.”
- Give a general account and discussion of one of the following “parts” of Marx’s system of thought:
- His general theory of the dynamics of all history: “materialism,” the dialectic, the economic interpretation of history, the class struggle theory.
- His theory of value and surplus value—or value, wages, and capitalist incomes—in the capitalist economy.
- His theory of the capital-accumulation process—its causes, motives, and results—and the dynamics, and predicted course, of the evolution of the capitalist economy.
- Describe and discuss the character, and some of the main elements or tenets, of Fabian socialist thought. (The reference is only to the original Fabian group, the Webbs, Shaw, etc.)
- “Throughout the histories of the German and English socialist movements, the German socialists have been hampered by their excessive burden of dogmatic theory, and the English, by their lack of theory.”
Comment, in the light of what you know of the actual histories; giving brief accounts of particular episodes or developments—at least one in the history of the German and one in that of the English movement—which might be held to illustrate the statements, and discussing the question, whether and how far they do so. - Choose and discuss one or more of the important theoretical problems to be “solved” in developing any sound, useful structure of economic theory, for use in socialist economic planning and the construction and operation of a socialist economy.
- On any one of the important, general topics considered in New Fabian Essays, describe (summarize) the views or opinions expressed therein, and discuss them critically.
Source: Harvard University Archives. Final Exams—Social Sciences, June 1953 (HUC 7000.28, vol. 99).
Image Source: O.H. Taylor in Harvard College, Class Album 1952.