As wonderful as is the Harvard University Archive’s collection of old syllabi, course outlines and reading lists in economics, 1895-2003 (HUC 8522.2.1), coverage is by no means complete and there are many gaps and omissions. Unfortunately I could not find the syllabus from the second term of the two term course taught by Overton Hume Taylor (1897-1987) that can be seen as an expanded, grown up version of a freshman/sophomore level, one semester course “The Intellectual Background of Economic Thought” that he taught in 1940-41. Sometime soon I’ll try to cobble together likely content for his second semester course from 1949. But for now, the first term can certainly serve as a stand-alone course. As can be seen from the course description below, Economics 115 was the union of two related, but distinct, courses, Economics 15a and Economics 15b.
In the meantime I have found the final examination questions for this course in the Harvard archives.
Here is a link to Taylor’s A History of Economic Thought (1960). My guess is that the second term of the course covered Chapters 14-17 in Taylor’s text (rise of Communism and Fascism, Welfare State Economics, Imperfect Competition, Keynesian Macroeconomics).
Overton Hume Taylor (1897-1987) was born in Colorado, received his B.A. at the University of Colorado in 1921 and Ph.D. from Harvard in 1928. He held the rank of instructor 1929-1960, was promoted to professor, 1960-64. He retired from Harvard in 1964, going on to teach at Vanderbilt University.
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If you find this posting interesting, here is the complete list of “artifacts” from the history of economics I have assembled. You can subscribe to Economics in the Rear-View Mirror below. There is also an opportunity for comment following each posting….
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[Course Description from Announcement of Courses, 1948-49]
Economics 115 (formerly Economics 15a and 15b). Economics and Political Ideas in Modern Times.
Full course. Tu., Th., and (at the pleasure of the instructor) Sat., at 12. Dr. O. H. Taylor.
A course which may be of interest equally to Economics, Government, and History concentrators; dealing with both economic and political thought in their joint historical development. Hobbes and the mercantilists; Locke, the physiocrats, Adam Smith and Smith’s successors (economic liberalism), Marxism; and other, including present-day, ideologies and economic theories. Prerequisite: Economics 1.
Source: Harvard University. Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year, 1948-49, p. 74.
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[Course Enrollment: Economics 115, 1948-49.]
115 (formerly Economics 15a and 15b). Economics and Political Ideas in Modern Times. (Full Co.) Dr. O. H. Taylor.
(F) 10 Graduates, 12 Seniors, 12 Juniors, 6 Sophomores, 3 Radcliffe, 1 Other. Total: 44.
(S) 7 Graduates, 9 Seniors, 14 Juniors, 6 Sophomores, 1 Radcliffe, 1 Other: Total: 38.
Source: Reports of the President of Harvard College and Reports of Departments for 1948-49, p. 76.
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Economics 115
Fall Term, 1948-49
Economics and Political Ideas in Modern Times – First Semester
| I. September 30-October 9. | ||
| Introduction; Plato and the Middle Ages; Hobbes and Mercantilism. | ||
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Reading due October 9: |
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| Thursday, September 30. | Introductory lecture. Aim and Nature of the Course. Economics, politics, philosophy, and political economy. Economics in modern western civilization and in pre-capitalist civilizations. Visionary and prosaic philosophies and cultures. Economic science and political faiths. | |
| Saturday, October 2. | The modern west’s partial break with and debts to, its ancient-medieval heritage. Latter’s debt to philosophy of Plato. Platonic views in philosophy, politics, and economics; and the ruling medieval views. | |
| Tuesday, October 5. | The rise of modernity; 17th century Europe and England; Hobbes vs. Plato. | |
| Thursday, October 7. | 17th century English mercantilism and economic theory. | |
| Saturday, October 9. | Class discussion of the reading in Plato and Hobbes. (no lecture). | |
| II. October 12-23. | ||
| Liberalism; Locke; the Physiocrats and Adam Smith. | ||
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Reading due October 23: |
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| Tuesday, October 12. | [Holiday] | |
| Thursday, October 14. | Varieties of liberalism and associated economic thought from early-modern times to present. | |
| Saturday, October 16. | Natural law and early-modern liberalism. Locke vs. Hobbes. Locke, Newton, and the 18th century. | |
| Tuesday, October 19. | The philosophy and economics of the Physiocrats (French 18th century liberal economists). | |
| Thursday, October 21. | The philosophy and economics of Adam Smith. | |
| Saturday, October 23. | Class discussion of the reading in Locke and Adam Smith | |
| III. October 26-November 6. | ||
| Bentham, Malthus, and Ricardo; Opposition Currents; and J. S. Mill | ||
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Reading due November 6: |
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| Tuesday, October 26. | Bentham and his followers. Utility vs. natural law. Utilitarian liberalism and classical economics. | |
| Thursday, October 28. | Malthus vs. the anarchist-socialists. | |
| Saturday, October 30. | Ricardo and classical economics. | |
| Tuesday, November 2. | The “Manchester School,” free trade in England, and the popular version of the Bentham-Ricardo doctrines. Opposition movements, Romantic Toryism, Comtism, and early socialism. | |
| Thursday, November 4. | The education, career, and mature opinions of J. S. Mill. | |
| Saturday, November 6. | Class discussion of the Mill essays. | |
| Tuesday, November 9. | Hour exam. | |
| IV. November 9-20. | ||
| The Romantic Reaction, and Comte | ||
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Reading due November 20: |
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| Thursday, November 11. | [Holiday] | |
| Saturday, November 13. | The romantic movement vs. rationalism and liberalism. Political and economic ideas of the English romanticists. | |
| Tuesday, November 16. | Romantic-reactionary thought in Germany, from the period between Kant and Hegel to Hitler; and its expressions in the sphere of economics. | |
| Thursday, November 18. | Romanticism, positivism, and the main 18th century outlook—interrelations. The positivism of August Comte vs. liberalism and economic science. | |
| Saturday, November 20. | Class discussion of the Carlyle-Ruskin and Comte reading. | |
| V. November 23-December 4; | ||
| Marxism | ||
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Reading due December 4: |
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| Tuesday, November 23. | “Utopian” socialism, Hegel, Ricardo, and Marx; and the Marxian theory of history. | |
| Thursday, November 25. | [Holiday] | |
| Saturday, November 27. | The Marxian economic theory of capitalism, I: value, wages, and profits. | |
| Tuesday, November 30. | The Marxian economic theory of capitalism, II: the system’s destined evolution and self-destruction. | |
| Thursday, December 2. | The Marxian vision of the future beyond capitalism—the revolution and the new society; and concluding appraisal of Marxism. | |
| Saturday, December 4. | Discussion of Marx reading. | |
| VI. December 7-18. | ||
| Victorian Conservative Liberalism and Neo-Classical Economics. | ||
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Reading due December 18: |
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| Tuesday, December 7. | How in the late 19th century the classical liberalism, originally a radical, became a conservative ideology. New developments of economic theory in the conservative liberal context, after 1870. | |
| Thursday, December 9. | Utility economics and utilitarianism; the free price system and economic welfare. | |
| Saturday, December 11. | Marginal productivity and distributive justice—Clark and Carver | |
| Tuesday, November 14. | Neo-classical theories about capital, money, business cycles, monopoly, and economic progress. | |
| Thursday, December 16. | The special views and system of Alfred Marshall. | |
| Saturday, December 18. | Class discussion. | |
Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 4, Folder “Economics 1948-49 (1 of 2)”.
Image Source: Harvard Album, 1952.