This posting gives a bibliography and suggested course of reading published as part of a 26 page Syllabus of a Course of Lectures on The Change in Political Economy with an Outline of a Course of Study prepared by Michael E. Sadler, M.A. (“Student and Steward of Christ Church, Oxford; Secretary, and formerly lecturer, to the Oxford University Extension”). The syllabus was published by University Extension Lectures under the auspices of the American Society for the Extension of University Teaching in 1891, judging from the date stamp (Feb 29, 1892 of the Wisconsin Historical Society) and an opening quote from Marshall’s Principles of Economics (1890).
Sir Michael Ernest Sadler (1861-1943) was an undergraduate in Trinity College, Oxford where he was deeply influenced by the lectures of John Ruskin. He became President Elect of the Oxford Students’ Union in June 1882 and gained a first-class degree that July. In May 1885 began what was to become a distinguished career in education as the Secretary to the Oxford University Standing Committee of the Delegacy for Local Examinations. Over the next nine years he travelled and organized lectures for the education of the working classes in the Midlands. Because of his success in this work, he was invited in 1891 to give three talks to the National Conference on University Extension in Philadelphia. An appreciative biographical essay was written by J. H. Higginson, “Michael Ernest Sadler (1861-1943)”, published in Prospects: the quarterly review of comparative education (Paris, UNESDDCO: International Bureau of Education), vol. 24, no. 3/4, pp. 455-69.
While this takes us away from my focus on graduate economics education in the United States, England, like France and Germany, mattered enormously for the development of economics in the United States. Also the weight given to Saint-Simon is at least as much a sign of the times as well as the political position of Sadler. In his 1961 AEA Presidential address, Paul Samuelson wrote: “…reading Gide and Rist you would be forgiven for thinking that Robert Owen was almost as important as Robert Malthus; that Fourier and Saint-Simon were much more important than Walras and Pareto…” as opposed to reading Schumpeter (History of Economic Analysis). For someone learning their economics at the end of the nineteenth century and early twentieth century the various socialist analyses/critiques/proposals were indeed very much part of the development of economics. Cf. Laughlin’s 1891 proposal for the expansion of economics at Cornell or Carver’s 1919-20 course at Harvard or, much later even, Douglas’s 1938 course at Chicago.
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SELECTED LIST OF BOOKS.
I. Subject-Matter.
The Wealth of Nations. By Adam Smith.
L’Industrie. By St. Simon.
L’ Organisateur. [By St. Simon.]
Du Système Industriel. [By St. Simon.]
Catéchisme des Industriels. [By St. Simon.]
Nouveau Christianisme. [By St. Simon.]
Principles of Political Economy. By John Stuart Mill.
Autobiography. [By John Stuart Mill.]
Economic Studies. By Walter Bagehot.
The Wages Question. By General Francis Walker.
Principles of Economics. [8th edition] By Alfred Marshall.
II. History.
History of Political Economy, with Introduction, by Edmund J. James. By Dr. Ingram.
The Industrial Revolution. By Arnold Toynbee.
III. Criticism.
Essays in Political Economy. By T. E. Cliffe Leslie.
Adam Smith. By R. B. Haldane.
St. Simon et le St. Simonisme. By Paul Janet.
Les Économistes Français du XVIIIme Siècle. By Léonce de Lavergne.
Histoire des Doctrines Économiques. By A. Espinas.
Unto this Last. By John Ruskin.
SUGGESTED COURSE OF READING ON THE SUBJECT.
The best book to begin with is Dr. Ingram’s History of Political Economy, originally published in Part 74 of the Encyclopedia Britannica. The student will do well to read the whole of Dr. Ingram’s treatise beginning with the section headed “Third Modern Phase; System of Natural Liberty.”
This done, the reader should turn to Mons. de Lavergne’s Economistes Francais de dix-huitième siècle (1870, Paris, Guillamin). Convenient chapters will also be found in Mons. Espinas’ Histoire des Doctrines Economiques (Paris, Colin, 1891), especially Part 4.
Next, the student should certainly read Adam Smith’s Wealth of Nations. He is strongly advised not to content himself with any summary or analysis of this great work, the style of which has an incommunicable charm. Taken in its historical position, this classical treatise on Political Economy will be found by the student to be of immense value to him in later researches.
After reading Adam Smith, turn to Cliffe Leslie’s Essays on Political and Moral Philosophy, second edition, especially Essays 3, 5, 7, 14, 15, 16. Special attention should be paid to Book 5, Chapter 1.
Haldane’s Life of Adam Smith, 1887, will also be found useful, but advanced students will also derive much pleasure from Dugald Stewart’s Account of Life and Writings of Adam Smith, prefixed to Wakefield’s edition of Wealth of Nations, 1843.
At this point Toynbee’s Lectures on the Industrial Revolution should be carefully read, together with Brentano’s Guilds and Trade Unions.
He should then turn to Saint Simon, reading his Autobiography (Volume I of the collected works, Paris, Dentu, 1868), and paying special attention to Vols. III, IV, V, VI of the collected edition and particularly to L’Industrie, L’Organisateur, Du système industriel, and the Nouveau Christianisme.
For the life of Saint Simon, read Saint Simon et le Simonisme, Janet (Paris, Bailliere, 1878).
Then take Vol. IX of Saint Simon’s Collected Works, [Note: Oeuvres de Saint-Simon et d’Enfantin. 47 vols. Paris: Dentu, 1865–1878. → Saint-Simon’s writings are found in Volumes 15, 18-23, and 37-40.] and read Catéchisme des Industriels (troisième cahier) which is really Comte’s work. Next compare this with Comte’s Système de Politique Positive, especially Appendice Général, troisième partie (edition, Paris, 1854). Also refer to Littré, Auguste Comte et la Philosophie Positive, especially Chapter III.
For the influence of these ideas on English Political Economy read John Stuart Mill’s Autobiography, especially the end of Chapter II and the whole of Chapter V and the greater part of Chapter VII.
For the later development of Political Economy read Bagehot’s Economic Studies and Professor Henry Sidgwick’s Principles of Political Economy, especially Books I-III.
For the protest against Political Economy make a careful study of John Ruskin’s Unto this Last; also read Ruskin’s Munera Pulveris and Fors Clavigera. Refer also to Karl Marx’s Capital.
For a summary of the present position of Political Economy consult Professor Marshall’s Principles of Economics. [8th edition]
Source: Michael E. Sadler, M.A.(1891). Syllabus of a Course of Lectures on The Change in Political Economy with an Outline of a Course of Study.