Categories
Columbia Economists

Columbia. Economics PhD alumnus. Milton Moss, 1962

 

The previous post provided a transcription of the 1986 syllabus for Milton Moss’s course at the University of Maryland “The Development of Economic Ideas” that turned up in the J. Herbert Furth papers at the Hoover Institution Archives. Since Milton Moss is hardly a household name, today’s post introduces the minor Milton as our newest entry to the Meet-an-Economics-PhD-Alumna/us series. His “greatest hit” appears to be the 1973 NBER volume that he edited, The Measurement of Social and Economic Performance.

Fun Fact:  Moss’s father-in-law (Naum Jasny) was a renowned expert on Soviet agriculture–see the biographical note included at the end of this post.

__________________________________

Details from the Life and Career of Milton Moss
Columbia Ph.D. (1962)

1915. Milton Moss born February 3 in New York City. Parents: Edward and Fannie Moss.

1935. B.S.S., City College of the City University of New York (CUNY).

1937. M.A. from Columbia University. Thesis: A sociological view of Thorstein Veblen.

1941. Marriage to Tatyana Jasny May 31, 1941 in Manhattan. [Children: Philip I. and Lynda M. Moss.]

1948. Sales finance company operations in 1947 in Federal Reserve Bulletin (July 1948), pp. 781-786.

1949. A study of instalment credit termsFederal Reserve Bulletin (Dec 1949), pp. 1442-1449.

1955. “Monthly Production Indexes and Changes in Output per Manhour,” in American Statistical Association Proceedings of the Business and Economic Statistics Section, 1955. Washington: American Statistical Association.

1957. “Industrial Activity and Productivity” published in American Statistical Association, Proceedings of the Business and Economic Statistics Section.

1961. Comment on V. R. Berlinguette and F. H. Leacy, The Estimation of Real Domestic Product by Final Expenditure Categories and by Industry of Origin in Canada. Chapter 6 in NBER, Output, Input, and Productivity Measurement, Vol. 25 by the Conference on Research in Income and Wealth. Princeton: Princeton University Press.

1961. Leave of absence from the Board of Governors of the Federal Reserve to complete his Ph.D.

1962. Ph.D. thesis. Columbia University. Dissertation: Short-run changes in consumer demand; a study in methods of observation with special reference to automobile demand.

1968. Needs for Consistency and Flexibility in Measures of Real Product by Industry, Review of Income and Wealth, Volume 14, number 3,  pp. 1-17

1968. Chapter 9. Consumption: A Report on Contemporary Issues, pp. 449-524, in Eleanor Bernert Sheldon and Wilbert E. Moore (eds), Indicators of Social Change: Concepts and Measurements. New York: Russell Sage Foundation.

1968. Comment on Comparison of Federal Reserve and OBE Measures of Real Manufacturing Output, 1947-64 by Jack J. Gottsegen and Richard C. Ziemer. Chapter 8 in NBER The Industrial Composition of Income and Product, Vol. 32, Conference on Research in Income and Wealth, John W. Kendrick, ed. New York: Columbia University Press.

1973. NBER. The Measurement of Social and Economic Performance, ed. by Milton Moss. New York: Columbia University Press.

1980. Social Challenges to Economic Accounting and Economic Challenges to Social Accounting, Review of Income and Wealth, Volume 26, Number 3, pp. 1-17.

2009. Died January 1 in Silver Spring, Maryland.

__________________________________

Washington Post obit
January 11, 2009

Milton Moss (Age 93) On January 1, 2009 at Riderwood Village, Silver Spring, MD. He is survived by his wife of 67 years, Tatyana J. Moss; his daughter, Lynda M. Moss of Winston-Salem, NC, his son, Philip I. Moss of Brookline, MA, and his grandchildren, William B. Moss and Tatyana L. Moss.

Source: Published in The Washington Post on Jan. 11, 2009.

__________________________________

Federal Statistical Directory, 1967.

Executive Office of the President. Bureau of the Budget. Office of Statistical Standards.
Milton Moss, Assistant Chief, National Economic Accounts.

Assignment Area: National accounts, savings and productivity, balance of payments.

1969 AEA Biographical Listing, p. 309.

MOSS, Milton. Government; b. New York City, 1915; B.S., City Coll. N.Y., 1935; M.A., Columbia, 1937, Ph.D., 1962. Economist, Bd. Of Govrs. Of Fed. Res. System, 1942-62; asst. dir., office of statistic standards, Bur. of the Budget since 1962. ADDRESS 8504 WHITTIER BLVD., BETHESDA, MD 20034

Federal Statistical Directory, 1970

Executive Office of the President. Office of Management and the Budget. Statistical Policy and Management Information Systems Division.
Milton Moss. Chief, Social and Economics Statistics Systems Branch

1985 AEA Biographical Listing, p. 371

MOSS, MILTON, 8504 Whittier Blvd, Bethesda, Md 20817. Fields: 030, 220. Birth Yr: 1915. Degrees: B.S.S., City Coll. of CUNY, 1935; M.A., Columbia U., 1937; Ph.D., Columbia U. 1962. Prin. Cur. Position: Lectr. U. of Md., 1981. Concurrrent/Past Positions. Adj. Prof., U. of Pa., 1978-81; Sr. Res. Consult., U. of Mich., 1973-75. Research: Hist. of thought.

__________________________________

Milton Moss’s Father-in-law, Naum Jasny

JASNY, NAUM (1883–1967), economist. Born in Kharkov, Ukraine, Jasny obtained a doctorate in law in St. Petersburg (Leningrad). Jasny practiced law for a short time, and then became director of a flour mill in Kharkov, an experience which aroused his interest in economics. After the Russian Revolution he worked on designing food policies for the Soviet government, for which he later undertook economic research in Germany. While there he joined the Business Cycle Research Institute and in 1933, with the coming of Hitler, he moved to the United States where he was appointed senior economist with the Department of Agriculture. From 1939 he was with the Food Research Institute of Stanford University where he prepared forecasts of food availability in allied and enemy countries. After World War II, he worked with the Stanford Soviet Economic Group. Jasny’s main interests were agricultural statistics and economics. His estimates of grain harvests in the U.S.S.R. served for many years as the basis for the investigations into the Soviet military potential. Among Jasny‘s major works are The Socialized Agriculture of the U.S.S.R. (1949); The Wheats of Classical Antiquity (1944); Soviet Industrialization 1928–52 (1961); Soviet Planning (1964), edited by J.T. Degras and A. Nove; and Khrushchev’s Crop Policy (1965). His memoirs were being prepared for publication at the time of his death.

Source: Web article from Encyclopaedia Judaica.

 

Image Source: “Alma Mater in 2020” by Andrew Henkelman (Creative Commons Licence 4.0) in Wikipedia.

Categories
History of Economics Suggested Reading Syllabus

Maryland. Undergraduate History of Economic Thought Syllabus. Milton Moss, 1986

 

Following his retirement from federal government service as an economic statistician, Milton Moss (Columbia economics Ph.D., 1962) taught a one semester undergraduate survey course on the history of economics at the University of Maryland from 1981 through 1986. He shared his course outline and reading assignments with his old former colleague at the Federal Reserve Board Herbert Furth in whose papers at the Hoover Institution Archives I was able to find the copy transcribed below. Checking the undergraduate course catalogues for the University of Maryland, I could verify that Moss was a part-time lecturer and that this course was indeed offered under this number in the early 1980s.

_________________________

Economics 307
The Development of Economic Ideas
[University of Maryland, 1986]

General Syllabus and
Course Outline of Topics, Readings and Questions
Dr. Milton Moss

 

General Syllabus

Course: Econ 307: The Development of Economic Ideas, Dr. Milton Moss.

Objective: To give an historical perspective to present day economic ideas, highlighting the interactions of economic, social, and political issues and policies.

Readings:

Required:

    1. Harry Landreth, History of Economic Theory
    2. Charles W. Needy, Classics of Economics

Recommended

    1. Robert Heilbroner, The Worldly Philosophers (very entertaining)
    2. Mark Blaug, Economic Theory in Retrospect (challenging)
    3. Eric Roll, A History of Economic Thought, 4th edition (optional)
    4. Bible, Old and New Testaments (optional)
    5. M. I. Finley, The Ancient Economy (optional)
    6. Joseph Schumpeter, Capitalism, Socialism and Democracy (very useful for Marx)

Topics:

    1. Overview—Main Themes of the Course
    2. Before Economics Became a “Science”—Antiquity and Middle Ages
    3. Mercantilism & Physiocracy
    4. Classicism—Smith, Malthus, Ricardo
    5. Marxism
    6. Marginal Analysis and Microeconomics—Jevons, Menger, Marshall, and Modern versions
    7. Veblen and Institutional Economics
    8. Keynes and Macroeconomics
    9. Measurement of Economic Performance—National Income and Income Distribution
    10. Review of Main Themes of the Course

Examinations:

Three exams:

Premidterm (20 points)
Midterm (30 points)
Final (50 points)

Each exam will be discussed one week in advance of the examination date.

 

Outline of Topics, Readings, and Questions

  1. Before Economics Became a “Science”—500 B.C.—1300 A.D.

Readings: Landreth 14-19; Roll, Chap. I; Bible: Genesis, 41, 1-36; Leviticus, 27, 1-8; Finley, 17-19;
Student notes in class lecture and discussion.

Questions:

    • “Economics is the oldest art but one of the youngest sciences.” What does this mean?
    • What did Xenophon mean by “OIKONOMICOS”?
    • What is a “just” price? A “just” interest charge?
    • What is the money value of a human being?
    • What food supply policy did Joseph recommend in Ancient Egypt?
  1. Mercantilism and Physiocracy—1500-1750+
    Thomas Mun and Francois Quesnay.

Readings: Landreth 19-29; Needy, 1-14; Blaug, 10-36; Roll, Chap. II and p. 128-137.
Lectures and discussion.

Questions: How does Mercantilism differ from Physiocracy on:

    • What makes a nation wealthy and powerful?
    • How government policy may further a nation’s economic goals?
    • How all economic transactions in a nation are interdependent?
  1. Classicism—1770-1830+
    — Adam Smith, T. R. Malthus, David Ricardo, J.S. Mill, J.-B. Say.

Readings: Landreth 31-151; Needy, 15-83; Blaug, 36-235; Roll, Chap. IV; Heilbroner*, 40-101.
Lectures and discussion.

Questions:

    • Why are some nations poor and others rich?
    • Why do people and/or nations gain through specialization and free exchange?
    • How do free markets “naturally” lead capital and labor to their most efficient uses?
    • Why are wages unequal in different occupations?
    • How do changes in productivity of labor and in costs of production change the distribution between wages, profits, and rent?
    • What is the effect of population growth on economic well-being? On poverty?
    • Why might a scarce resource such as land lead to “diminishing returns”?
    • Is overproduction or underconsumption economically possible?
  1. Marxism—1850-1880 and modern versions.
    Karl Marx and his “successors.”

Readings: Landreth 153-190; Blaug, 236-309; Roll, Chap. VI; Needy, 84-108; Heilbroner*, 133-167; Schumpeter, 1-59.
Lectures and discussion.

Questions:

    • How did Marx build upon the classical labor cost theory of value to explain the distribution of income between wages and profits?
    • What is the economic incentive for technological change?
    • How does technological change lead to:
      a. monopoly?
      b. a reserve army of the unemployed?
      c. Socialism?
    • How do economic incentives affect the relation between money and production of commodities?
    • What is the Marxian view of the role of the State under capitalism? In welfare policy? In foreign policy?
    • Why is Marxism seemingly so influential in today’s politics and economics—especially in the “Third World”?
  1. Marginal Analysis and Microeconomics—1870 to present day.
    W. S. Jevons, Carl Menger, L. Walras, A. Marshall and modern theory.

Readings: Landreth 191-316 (but mainly 201-18 and 279-316); Needy, 118-146; Blaug, 309-390; Roll, Ch. VIII.
Lectures and discussion.

Questions:

    • How did marginalism shift price analysis away from the labor or cost theory of value to analysis of demand and supply?
    • How does marginal utility in relation to price explain demand?
    • How does marginal cost in relation to price explain supply?
    • To what uses besides demand and supply questions is marginal analysis applicable at the present time?
  1. Veblen and “Institutional” Economics—1899 to date.
    Mostly Veblen, but references also to W. C. Mitchell, J. R. Commons, and J. Galbraith.

Readings: Landreth 317-345, 354-360; Needy, 174-198, 1982-212 (optional); Heilbroner*, 210-244; Roll, 439-454. Lectures and discussion.

Questions:

    • Economic behavior, according to Veblen, can be divided into two main types: “Industrial employments,” and “pecuniary employments”.
      a. How does this view of economic behavior differ from that of Smith, Marx, and the marginalists?
      b. What are some examples of the two types of behavior? In Veblen’s day? At the present time?
    • Should economics be a study of disequilibrium rather than equilibrium? Of institutional change rather than fixed economic laws?
  1. Keynes and Macroeconomics—1930 to present.

Readings: Landreth 431-497; Needy, 324-352; Heilbroner*, 245-283; Blaug, 665-692 (difficult reading but worth trying your hand at—entirely optional); Roll, 479-497.
Lectures and discussion.

Questions:

    • During the great depression of the 1930’s what different proposals were made for putting people back to work? Marxian? Neoclassical? Keynesian?
    • How did the Keynesian framework of aggregate demand change the analysis of employment?
    • What is the effect of changes in aggregate demand, especially investment demand, on general economic fluctuations?
    • What role can Government play in diminishing economic fluctuations? Critically examine that role.
    • How has the trade-off between unemployment and inflation resulted in a reappraisal of Keynesian macroeconomic policy?
    • Is Keynes only a depression economist? Has “stagflation”—the concurrence of a stagnant economy and inflation-upset the foundations of Keynesian theory?
    • What are the main alternative views of macroeconomic policy today?
  1. Measurement of Economic Performance — 1690—Present.

Topics: National Income, Gross National Product, and Income Distribution.
Rely almost entirely on lectures.

Questions:

    • What are some highlights in the historical development of measurement of the income of nations?
    • National Income as presently compiled shows how income of a nation is distributed while Gross National Product shows how income is used. Why is that?
    • What have been some key uses by government and business policy makers of the National Income and Product Statistics?
    • On income distribution, what are the main issues that distinguish distribution of income to the factors of production from distribution by size of income among persons and households?
    • What are the advantages and limitations to using income as a measure of economic well-being?
  1. Review of the Main Themes in the History of Economic Thought
    General Discussion.

Note to Readings—Underlined references are required readings. Others are optional. References to Heilbroner are asterisked because students are likely to enjoy his entertaining and lively writing. Note that reference to Lectures and discussion are in bold indicating their critical importance in this course.

Source: Hoover Institution Archives. J. Herbert Furth Papers. Box 12.

Image SourceAdam Smith by James Tassie (1787). The National Portrait Gallery (U.K.)