This post includes: A typed page of course readings for Friedrich August Lutz’s Princeton economics theory course from 1949-50, transcribed from Martin Shubik‘s course notes, has been augmented with handwritten additions found scattered throughout the notes (identified in italics); several handwritten lists of readings from later during the course.
_____________________
Economics 501
Typed page of course readings, Parts I-III
[with inserts based on hand-written course notes]
THE THEORY OF VALUE
F.A. LUTZ
PART I THEORY OF DEMAND
Stigler: Theory of Price
Boulding: Economic Analysis
[Lerner: Ec. of control]
- a) Measurable Utility
b) Indifference Curves
c) The Controversy over Utility
a) [old theory]
Marshall Bks. 3 & 5 [+ appendix contract curve)
Wicksteed [ Ec. Vol. I ch 1&3 Vol II 1,2,3,4]
Böhm-Bawerk Bk 3 on Value
Wicksell: [Pol. Ec.] Vol 1 pt. 1
[Walras first chapters]
b) [new theory]
Hicks: Value and Capital Pt. I [1-50]
Schultz: Theory of Measurement of Demand Chap. I
[Pareto—Manuel]
Samuelson: Foundations of Ec. Analysis Ch. 5
Friedman: The Marshallian Demand Curve J.P.E. 1949
Morgenstern: Demand Theory Reconsidered Q.J.E. 1947-1948
c) Theory of Games: V. Neumann & Morgenstern
Friedman & Savage: Choices involving Risk J.P.E. 1948
Consumer’s Surplus:—
Knight: Realism & Relevance in the Theory of Demand J.P.E. 1944
Henderson: Consumer’s Surplus & Compensating Variation R.E.&S. 1941
Bishop: Prof. Knight & Theory of Demand J.P.E. 1946
Samuelson: Ch. 7
Duesenberry: Income, Saving & Consumer Behaviour
See: Lerner: Econ. of Control p. 30
PART II THEORY OF PRODUCTION
Carlson: Pure Theory of Production
Robinson: Economics of Imperfect Competition
Viner: Cost curves & Supply curves
Sraffa: Laws of Returns under Competitive Conditions
Pigou: Analysis of Supply E. J. 1928
Harrod: E. J. 1931
Knight: Risk, Uncertainty & Profit Ch. 4
Lerner: Economics of Control Ch. 13
PART III THEORY OF DEMAND & THEORY OF COSTS
Joan Robinson
Chamberlin
Fellner [Comp. among the few.]
[Triffin]
[Hicks: theory of monop. Eca 35]
[Kaldor: Eca 35
Ec J 35]
[Eiteman Equ of firm Q.J.E. 44-45]
[Ralph Theory of Income Distribution]
[Chamberlin: Proportionality, Divisibility, Economices of scale Q.J.E. ‘48]
PART IV THEORY OF DISTRIBUTION
[no references listed, or next page missing]
________________________________
Two topics in consumer’s choice left.
[handwritten notes]
1) Consumer Surplus
- Marshall
- Hicks value & capital appendix ch II
- Q.J.E. 42-43 C.S.< Utility
- Consumer surplus R.E. 1940-41
Henderson - Knight Realism Theory of Demand 1934
- Bishop Reply to Knight 1946
- Realism and Relev J.P.E. Aug 1946
- Samuelson Cons. surplus
2) Measurability of Utility
- Frisch J.P.E. ‘33
- Lange The det of the Ut fn. RES Jun 34
- Zeuthen R.E.S. June 37
1936-37 - Knight J.P.E. 1944
- D 6 [sic]
- Theory Games Ch I part 3.
- Vickrey Eca 1945
- Friedman & Savage Ut…Risk J.P.E. 1948
- J. N. Morgan can we measure mar ut of money Economica ‘45
- Samuelson R.E.S. ’37 Feb Ec. Oct 38.
________________________________
Theory of Distribution
[handwritten notes]
F. Lutz
Part I Capital Theory
Part II Keynes via M.E. of capital
Reading: The Austrian Theory:
Böhm-Bawerk: Positive Theory of Capital book 2, 5,6,7 [The 3 reasons for time preference in book 5 received much later attention. Lutz says that the important part of the book is capital market [see: Stigler]
Wicksell: Lectures. Section on Capital Theory
Knight: “The Quantity of Capital, the Interest Rate” J.P.E. 1936 433, 612
“Capital, Time and the Interest Rate” Economica 1934
Lutz: The Criterion of Maximum Profits in the Theory of Investment Q.J.E. Nov. 1946
Keynes: General Theory ch. 6, app. on user cost
Lutz: Interest Rate and Investment in a Dynamic Econ. AER Dec 1945 pp. 811-830
Fisher: Theory of Interest
The Hayek-Kaldor Discussion
Hayek: The Ricardo Effect (See: Profits, Interest, Invest) Economica 1942 IX N.S. pp. 127-152
Kaldor: “Prof. Hayek and the Concertina? Effect” Economica 1942
Capital Intensity and the Trade Cycle, Economica 1934
Uncertainty and Risk
Pigou: Economics of Welfare app. I
Hart: “Anticipation, Uncertainty and Dynamic Planning” in Studies in Business Administration
Knight: Risk, Uncertainty and Profit
Steindl: On Risk, Oxford Ec Papers, 1941
[random paper mentioned (Mar 2 lecture: Preipeich? Econometrica Jan 1940]
________________________________
Capital Theory of F. H. Knight (based on 16 articles)
[handwritten notes]
A.E.R. Mar 1950 Theory of Profit Weston
J.P.E. 1936 F. H. Knight
Economica 1934 Capital, Time and the Interest Rate Knight
[1933 Essay in honor of G. Cassel]
Source: Duke University, David M. Rubenstein Rare Book and Manuscript Library, Economists’ Papers Archive. Martin Shubik Papers. Folder: “Notes, Economic Theory; Prof. F. Lutz (Fall 1949-Spring 1950).”
Image Source: Princeton University Library from The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Photography Collection, The New York Public Library. “The Library, Princeton Univ., Princeton, N. J.” New York Public Library Digital Collections. Accessed December 8, 2017.