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Columbia Economists Methodology New School

Columbia. Wesley Clair Mitchell’s remarks at Conference on Methods in Philosophy and the Sciences, 1937

 

In brief remarks intended to give non-economists a sense of the major methodological schools of economics at a 1937 conference at the New School for Social Research, Columbia professor Wesley Clair Mitchell distinguishes (i) orthodox economics dedicated to the understanding of the “pecuniary logic” of an agent within a capitalist market environment, (ii) institutional economics dedicated to the understanding of the evolution of economic organization, and (iii) a new, yet unnamed, type of economic theory that is clearly recognizable as being “behavioral economics”.

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Conference Program

CONFERENCE ON METHODS IN PHILOSOPHY AND THE SCIENCES

New School for Social Research
66 West 12th Street
New York City, N.Y.

Saturday, May 22 and Sunday, May 23, 1937

PROGRAM

Saturday, May 22

* * * * * * * * * * * * * * * *

9:30 A.M. – 11:00 A.M – Registration, Room 24, Fee – $1.00

11:00 A.M. – 1:00 P.M. – First Session – Room 25

Chairman:  H. M. Kallen
Sidney Hook: The Current Philosophical Scene
John Dewey: A Possible Program for Libertarians and Experimentalists

* * * * * * * * * * * * * * * *

2:30 – 4:00 P:M: – Second Session – Room 25

Brief statements on various departments of philosophy and the sciences: Their assumptions, methods, histories of the different schools, etc.

Ernest Nagel: The Position in LOGIC and METHODOLOGY
W.M. Malisoff: The Position in the PHYSICAL SCIENCES

DISCUSSION

4:00 – 5:30 P.M. – Second Session Continued – Room 25

S. E. Asch: The Position in PSYCHOLOGY
Wesley C. Mitchell: The Position in ECONOMICS

DISCUSSION

* * * * * * * * * * * * * * * *

7:00 P.M. – DINNER, Gene’s 71 West 11th Street

Speakers: Bacchus, Dionysus, the Holy and other Spirits.
Appointment of Committees

* * * * * * * * * * * * * * * *

Sunday, May 23

10:00 A.M. – 12 M. – Third Session, Room 25

Julius Lips: The Position in ANTHROPOLOGY
Meyer Schapiro: The Position in AESTHETICS
R. M. MacIver: The Position in SOCIOLOGY

DISCUSSION

12M. – 1:00 P.M. – Business Meeting

Election of Officers
Appointment of Permanent Committees
Unfinished Business
Adjournment

 

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Handwritten Remark by Wesley Clair Mitchell
Economics

 

Conference on Methods in Philosophy and the Social Sciences

New School
May 22, 1937

Economics like Philosophy and the other Social Sciences is still in the stage of development marked by the existence of fairly distinct schools of thought, or as I like better to say Types of Theory.

These schools differ in method. But these differences in method arise from differences in the problems which are taken as the central concern of economics.

 

Orthodox economics concerns itself primarily with what I like to call pecuniary logic — what it is to the economic advantage of men to do under a capitalistic organization — and the ‘purer’ this theory becomes the more exclusive concentration on that problem becomes.

In dealing with pecuniary logic, the investigator employs the method of imaginary experimentation. That is, he sets up certain assumptions and seeks to think out what it is to the interest of men to do under the conditions supposed.

The theory is developed by varying these assumptions with reference to such matters as the factors in theory set which are allowed to change the length of the period considered in the problem, the degree of competition supposed, elasticities of demand, relations between unit costs and volume of output.

How far the conclusions apply to the actual world depends upon the character of the assumptions made. The correspondence between these assumptions and actual conditions is seldom investigated.

Hence the doubts about this type of theory are usually doubts, not about the correctness of the reasoning, but about how far they apply to the facts we wish to understand. May have uncertain ‘operational significance’.  Defence.—tool makers. Question about applicability not relevant.

This description applies less strictly to Marshall than to many of his pupils, to the later Austrians, and to mathematical economists.

 

Institutional economics concerns itself primarily with the evolution of economic organization.

To Veblen this meant study of the widely prevalent habits of thought.

To Commons it means study of social controls over induced action—primarily through the courts.

Methods employed combine ethnology or historical research with reasoning about how men with a certain set of habits ingrained in them by the social environment in which they have grown up and by the work they do will behave or how the social controls over induced behavior may be expected to work out.

Again there may be doubts about how far the reasoning concerning economic behavior applies to actual conditions.

 

A third type of economics seems to be developing though not represented as yet by systematic theoretical treatises.

It endeavors to learn by analytic studies of actual behavior how men conduct themselves. Its methods are closer kin to those of animal psychologists than to those of introspective psychologists.

Though these men show no reluctance to account for their observations by supposing that their subjects know the rules of the money-making and money-spending games. Here they go beyond outlook[?] of physical science— Supposes men have purposes: that they plan for future .

Large use of the mass observations afforded by statistics

Considerable emphasis upon method[?] analysis of these records.

Not confined to statistics.

Doubts here concern representative value [or volume?] of the data

Trustworthiness of the mathematical analysis.

Extent to which factors that are not recorded statistically may modify conclusions drawn. Work of this sort is primarily monographic. Since social phenomena are interdependent, the question concerning what is left out is highly important

Can’t be applied well except when mass observations are available.

Promises to develop in future because statistical observation is covering a wider range.

Danger of ‘mere fact finding’ Dewey. Yes, but the facts may have deep ‘operational’ significance. Relation to questions of policy.

 

Source: Columbia University Archives. W. C. Mitchell Collection. Box 3, Folder “5/22/37 A”.

Image Source: Wesley Clair Mitchell from Albert Arnold Sprague’s and Claudia C. Milstead’s Genealogical Website.

 

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Economists Methodology New School

New School for Social Research. Conference on Mathematics and Social Science, 1958

 

While searching for traces of Jacob Marschak in the digitized archives on-line for the New School for Social Research, I came across the following press release about a one-day conference on mathematization of the social sciences that featured R. Duncan Luce, William S. Vickrey, Tjalling C. Koopmans and Jacob Marschak among others. Perhaps papers or notes from the conference can be located by a fellow historian of social sciences?

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Conference on “The State of Mathematization of the Social Sciences”
Press release from The New School for Social Research

THE NEW SCHOOL FOR SOCIAL RESEARCH.
66 West Twelfth Street, New York 11, New York

From: Agnes de Lima
Director of Information
Regon 5-2700

FOR RELEASE

May 21, 1958
MAILED May 21 to city editors of dailies

 

Mathematical methods in the social sciences—in psychology, sociology and economics—will be discussed by nine leading scholars at an all-day conference to be held at the New School for Social Research, Sunday, May 25. Scholars drawn from Columbia, Harvard, Princeton and Yale will address the conference which meets at 10:30 A.M. and again at 2:30 P.M. Dr. Henry Margenau, Eugene Higgins Professor of Natural History and Physics at Yale, will preside.

Dr. William Gruen, associate professor of philosophy at New York University, will introduce the speakers. He described the conference, which bears the rather formidable title, “The State of Mathematization of the Social Sciences,” as in the nature of a progress report on the application of the game theory, and related theoretical techniques developed by the late distinguished mathematical physicist John von Neumann of Princeton University. Much of the conference, he said, will deal with the extension of the line of research begun by the epoch-making work of Drs. Von Neumann and Oscar Morgenstern, also of Princeton, on “The Theory of Games and Economic Behavior.”

Speakers at the morning session include Robert R. Bush, associate professor of applied mathematics, New York School for Social Work, Columbia; R. Duncan Luce, lecturer, Department of Social Relations, Harvard; and William S. Vickrey, associate professor of economics, Columbia. Carl G. Hempel, professor of philosophy, Princeton, will comment.

In the afternoon session addresses will be made by Tjalling C. Koopmans, professor of economics, Yale; Jacob Marschak, professor of economics, Yale; Paul F. Lazarsfeld, professor of sociology and chairman of the Department of Sociology, Columbia. Ernest Nagel, John Dewey Professor of Philosophy, Columbia, and Orville G. Brim, Russell Sage Foundation, will comment.

The meeting is sponsored by the Conference on Methods in Philosophy and the Sciences organized in 1957 by a group of top-ranking scholars from leading universities. This is the 43rd [sic, probably “3rd”] semi-annual gathering at the New School.

Dr. Margenau is chairman of the conference and Dr. Gruen is secretary-treasurer. Dr. Horace M. Kallen, research professor in social philosophy and professor emeritus of the Graduate Faculty of Political and Social Science of the New School, is honorary president.

 

Note to Editor: While next Sunday’s Conference on Methods in Philosophy and the Sciences is a scholar’s conference and some of the papers will be technical in nature your reporter can we believe gain some highly interesting material on the light thrown on human motivation and behavior by the application of mathematical methods in the fields of psychology, sociology and economics. Leading corporations in the country in recognition of this fact are increasingly employing mathematicians on their staffs. We suggest that your reporter get in touch with Dr. William Gruen at the conference.

Above “Note to Ed” added to copies of release for NY Times and Herald Trib.

 

Source: New School for Social Research (New York, N.Y.: 1919-1997). Announcement of a conference “The State of Mathematization of the Social Sciences“. May 21 1958. New School press release collection. New School Archives and Special Collections Digital Archive. Web. 07 Mar 2019.

Image Source: Exterior of 66 West 12th Street Building of The New School. 1930 – 1960. New School photograph collection; Buildings and campus (NS040101.SII). New School Archives and Special Collections Digital Archive. Web. 07 Mar 2019.

 

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Columbia Economists Gender New School Texas

Columbia. Economics Ph.D. alumna. Dorothy Elizabeth Gregg, 1951

 

 

The previous post consisted of the syllabus, reading assignments and study questions for an undergraduate course taught at Columbia on the history of economics, ca. 1951. Curatorial pride led me to hunt for the “D. Gregg” who taught that course. I was able to track down Dorothy Elizabeth Gregg (1919-1997) and can add her now to the runnning series of Get-to-know-a-PhD-economist.

Gregg left academics for a highly successful career in corporate public relations in her mid-thirties. She was also very active in professional women’s issues and organizations (see the advertisement for a speech she gave at Columbia in December 1982 below).

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U.S. Social Security Applications and Claims Index

Birth: December 4, 1919 Tempe, Arizona
Death: May 18 1997
Father: Alfred T. Gregg
Mother: Mamie E. Walker

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U.S. Census and Draft Records

1920 U.S. Census. (23 January 1920)
Gilbert, Maricopa, Arizona

Husband: Alfred T. Gregg (b. ca 1889 in Mississippi), occupation: farmer.
Wife: Mamie Gregg (b. ca. 1894 in Mississippi)
Daughters: Louise (ca 1911, b. in Texas), Juanita (ca. 1917 b. in Arizona), Dorothy (ca Dec 1919, b. in Arizona) Gregg

1930 U.S. Census.
Chandler, Maricopa, Arizona.

Husband: Alfred T. Gregg (b. ca 1891 in Mississippi), occupation: farmer.
Wife: Mamie Gregg (b. ca. 1892 in Mississippi)
Daughters: Louise (ca 1911, b. in Texas), Juanita (ca. 1918 b. in Arizona), Dorothy (ca. 1920, b. in Arizona), Betty R. (ca. 1923 b. in Arizona) Gregg

1935-36 Notes

Dorothy’s 1935 Residence: Holtville, Imperial County California (according to 1940 U.S. Census). Her mother Mamie was living in Holtville, Imperial California in 1940.
Her father died 29 July 1936 in Imperial, California.

1940 Census (April 5, 1940)
Los Angeles County.

Married to Robert B Fox (21 years old). With 0/12 year old daughter Shaaron Lee (born March 10, 1940).
Husband worked as a clerk in household wares. Dorothy (born in Arizona) worked as a stenographer in a Glass Manufacturing Company. Both coded as having three years of college education.

Oct. 16 1940, Robert Bradford Fox draft card.

Born: May 11, 1918 in Galveston, Texas. Next of kin:  Dorothy Elizabeth Fox. Residence in El Centro (Imperial County), California, his occupation listed as student.

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Miscellaneous University Records/Service

University of Texas

University Texas Yearbook, Cactus 1944, p. 290. Dorothy Gregg Fox listed as a member of the honorary government organization Pi Sigma Alpha.

University of Texas, Austin. B.A. in economics with a minor in government (1945), M.A. in economics (1948).

*  *  *  *  *  *  *  *  *

Columbia University

Doctoral dissertation of Dorothy Gregg:  The exploitation of the steamboat; the case of Colonel John Stevens.
Ph.D. conferred in 1951.

 Assistant professor in the School of General Studies. (according to biographical note in the New School Bulletin Vol. XII, No. 3 (Sept 20, 1954).

*  *  *  *  *  *  *  *  *

Courses offered at the New School for Social Research 1954-55

213 THE MANAGERIAL CONTROL OF BUSINESS
Fall. Mondays, 8:30-10:10 P.M. $21. (Reg. fee: p. 6) DOROTHY GREGG

Beginning October 4.This course analyzes the structure and dynamics of an important phenomenon in Western civilization—the big business corporation. Topics are discussed from a functional viewpoint, with emphasis upon current problems. The course is designed both for those interested in public affairs and for students of economics.

The general tendency in modern society towards big bureaucratic organizations, both in business and in government. An analysis of the various theories of bureaucracy—Weber, Mannheim, von Mises, Parsons, Merton. The American business corporation—its structure, impersonality, over-centralization. Problems of status and prestige, communication channels, recruiting and training of executives. Possible solutions: decentralization, rationalization, social engineering techniques. The economic, political and social implications of the growth of bureaucracy.

Source:   New School for Social Research. New School Bulletin 1954-55, Vol. 12, No. 1 (September 6, 1954), p. 45.

218 THE BUSINESS WORLD AND MASS COMMUNICATIONS
Thursdays, 6:20-8:00 P.M. $21. (Reg. fee: p. 6) DOROTHY GREGG

Beginning February 10.This course discusses one of the basic developments in western civilization—the mass media of communications and their impact on society. The growth of the mass media constitutes perhaps one of the most significant revolutions of our times. The technological factors of the mass media, the business organization they involve, and their influence on changing business structures will be examined. An analysis is also made of the social consequences of the mass media and their interaction with the social structure.

Source:   New School for Social Research. New School Bulletin Spring 1955, Vol. 12, No. 18 (January 3, 1955), p. 41.

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According to Robert L. Heath (ed.) Encyclopedia of Public Relations (2ndEdition), Vol. 1 (SAGE Publications, 2013) p. 992, Dorothy Gregg also taught at Pace College and the University of Texas.

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Featured Speaker on Professional Women’s Forum
at Columbia University in 1982

Source:  The Columbia Spectator, December 6, 1982.

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Non-academic career

1954. Began career as a public relations consultant.
Ca. 1963-1975. Assistant to the director of public relations at U.S. Steel Corporation (16 years)
1975-1983. Vice president of communication Celanese Corporation
1983-1987. Senior consultant to Ruder, Finn & Rotman
1987. Established her own company.

Professional Women’s Organizations

First vice president of the National Council of Women in the United States
Committee on Women in Public Relations (chairperson)
Association for Women in Communication (President-elect 1981)
American Woman’s Association and the Advertising Women of New York (director)
International Women’s Forum (member of board of governors)
New York Women’s Forum (member of board of governors)

Sources:  Robert L. Heath (ed.) Encyclopedia of Public Relations (2ndEdition), Vol. 1 (SAGE Publications, 2013) p. 992. Also University of Texas alumni magazine. The Alcade, March-April, 1981.

Image Source: Dr. Dorothy Gregg for the Vernon C. Schranz Distinguished Lectureship in Public Relations of 1981.

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Harvard. Curriculum vitae submitted by Albert O. Hirschman, ca. 1942

 

One of those serendipitous finds in rummaging through a department’s correspondence in search of one thing (curricular material in my case) is the artifact transcribed for this post, a c.v. submitted to the Harvard department of economics by a 27 or 28 year old Rockefeller Foundation fellow,  O. Albert Hirschmann. It is written in a narrative, autobiographical style as was the custom in Europe of the time. Because I had the great pleasure of having worked as Albert O. Hirschman’s assistant at the Institute for Advanced Study in Princeton during the 1980-81 academic year, I photographed his early c.v. in an act of filial piety. Of course all this and more can be found in the prize-winning biography written by Jeremy Adelman: Worldly Philosopher: The Odyssey of Albert O. HirschmanPrinceton University Press, 2013. Nonetheless, the c.v. possesses the charm of being the original words chosen by Hirschman to market himself back when he was just one of dozens of European economist émigrés looking for steady work.

Thanks to Adelman’s book I learned (p. 203) that one of my Yale mentors, William Fellner, taught a general seminar on the principles of economics at Berkeley that Albert Hirschman took during his Rockefeller Foundation fellowship. Historically speaking, it’s a small world! 

__________________

O. Albert Hirschmann
1751 Highland Place
Berkeley, Calif.

CURRICULUM VITAE

I was born on April 7th, 1915, in Berlin. My nationality is Lithuanian. In 1932 I began to study law and economics at the University of Berlin. In April, 1933, I left for Paris, where I registered at the École des Hautes Études Commerciales (H.E.C.) and at the Institut de Statistiques de l’Université de Paris at the Sorbonne. In 1935 I had obtained the diplomas of both these institutions.

At the end of 1935, I went to England, in order to study for several months at the London School of Economics and Political Science under a scholarship granted to me by the International Student Service, which had already granted to me by the International Student Service, which had already helped me during my former studies. I had courses with Professors Robbins [1898-1984], T. E. Gregory [1890-1970] and B. A. Whale [Philip Barrett Whale, 1898-1950]. I worked in particular under Mr. Whale on French monetary policy since the stabilization of the Franc.

At the end of 1936, after a short stay at Paris, I applied for, and obtained a place as an assistant at the Institute of Statistics of the University of Trieste. I remained there until the middle of 1938, when I was compelled to return to Paris because of the anti-foreign and anti-semitic policy of the Fascist government. At Trieste, I worked under Professor P. Luzzatto-Fegiz [1900-1989]. I became much interested in Population Statistics and a part of my researches in this field was published in an article in the Giornale degli Economisti, January, 1938: “Nota su due recenti tavole di nuzialità della popolazione italiana.” (“A note on two recent nuptiality tables of the Italian population”.) I worked also on several problems of economic statistics and in particular on the statistics of the national income and of family budgets. At the same time I studied for my Doctor’s degree, which I obtained with the grade 120 points in a total of 120, in June, 1938. My thesis was a continuation and an expansion of the work on French monetary policy which I had begun at the London School of Economics. The thesis was to be printed in the Annals of the University, but this was rendered impossible by the subsequent political developments.

While still in Italy, during the first months of 1938, I tried to acquaint myself thoroughly with the Italian financial and economic situation. I finally sent an extensive report to Paris, which was published as a separate booklet, without naming the author, in June, 1938, by the Bulletin Quotidien de la Société d’Études et d’Informations Économiques, under the title: “Les Finances et l’Économie Italiennes – Situation actuelle et perspectives.” This report attracted some attention in Paris because by combining data from various sources I had thrown some light on the Italian economic and financial development which was surrounded by official secrecy. It was upon this report that Professor Charles Rist [1874-1955] offered me to collaborate in his Institut de Recherches Économiques et Sociales. Italy was my special field and from July, 1938, to April, 1940, I wrote regularly three-monthly reports on Italian economic development in L’Activité Économique, which was the publication of the Institute.

I also wrote a small booklet for the above named Bulletin Quotidian on the subject: “L’Industrie Textile Italienne et l’Autarcie.”

In November, 1938, Professor J. B. Condliffe [1891-1981], who was then acting as the director of studies for the International Studies Conference at Bergen, and in this capacity was organizing an international inquiry into the national systems of exchange control, entrusted me with the preparation of a report on the exchange control system of Italy. I also worked on other problems in connection with the Conference and, in particular, devised a new method of measuring the tendency toward bilateralism as completely distinct from the tendency towards equilibrium of foreign trade. Professor Condliffe encouraged me to write a small paper on this idea, and thus I presented two reports at the international Studies Conference at Bergen in 1939: (1) “Le Contrôle des Changes en Italie”—a report of ninety mimeographed pages by the International Institute of Intellectual Cooperation, which for various reasons was not signed, (2) “Étude Statistique de la Tendance du Commerce International [extérieur] Vers l’Équilibre et le Bilatéralisme”—a shorter paper also mimeographed and signed. A recent publication of the U.S. Tariff Commission on “Italian Commercial Policy (1922 – 1940)” has made an extensive use of my report on Italian Exchange Control, whereas Professor Condliffe has quoted my figures on bilateralism in his book “The Reconstruction of World Trade”.

I had registered as a volunteer for the French Army in case of war, in April, 1939. I was called as early as August, 1939. The stationary character of the war gave me the opportunity to prepare still two reports on the Italian economy, the necessary source-material being sent from Paris. After the armistice, in July, 1940, I was demobilized at Nîmes, in Southern France. From there I went to Marseilles, where I met Mr. Varian Fry [1907-1967], who had been sent to Marseilles by the Emergency Rescue Committee in order to evacuate political and intellectual refugees from France. I collaborated with him from August to December, 1940, when, upon the recommendation of Professor Condliffe, I obtained a Rockefeller fellowship, and thereupon the American visa. I arrived in this country on January 14, 1941.

After a short stay in the East, I went to the University of California at Berkeley to work in connection with a research project on Foreign Trade, directed by Professor Condliffe. Soon after my arrival at Berkeley, I met my wife and we were married in June 1941.

My original research plan was to give a statistical analysis of recent quantitative trends in world trade and my first months were spent in working out the specific problems which I intended to study. I wrote several papers on the measurement of concentration and related subjects in descriptive statistics which I hope to publish either as appendices to my main manuscript or as separate journal articles. The next step in my research was to apply the statistical methods which I had worked out to the foreign trade statistics. This required extensive calculations for which Professor Condliffe put an assistant at my disposal. I also participated in several graduate seminars and took a course in the theory of probability.

Upon the renewal of the Rockefeller fellowship for another year and after a two months illness during the winter of 1941-1942, I began to work at the theoretical and historical aspects of the problems which I had first studied from a purely quantitative point of view. The result of my research has now been embodied in a manuscript of 300 pages entitled “National Power and the Structure of Foreign Trade”, of which only the concluding section remains to be written.

Professors Howard S. Ellis [1898-1992] and Condliffe have given me the assurance that the manuscript would be published by a series edited by the newly established Bureau of Economic and Business Research of the University of California. One chapter of the manuscript giving a new statistical analysis of the composition of world trade according to commodity groups, is somewhat loosely connected with the rest and it has been suggested to me to have it published as a separate article. The Rockefeller Foundation has granted me the expenses for a trip to the Middle West and East on which I have just had the opportunity to discuss my manuscript with Professor Viner [1892-1970] at Chicago, Professors Haberler [1900-1995] and Staley [Eugene Alvah Staley (1906-1989) was at Fletcher School of Law and Diplomacy] at Harvard, Professors Staudinger [1889-1980] and Lowe [1893-1995] at the New School of Social Research and with Professor Loveday [1888-1962] and Mr. [Folke] Hilgerdt [1894-1956] of the Economic Intelligence Service of the League at Princeton.

As a result of my training, I have acquired a certain specialization in statistical methods on the one hand and in the field of international economics on the other (theory and history of international trade, international monetary problems, exchange control, foreign trade statistics, etc.) Through my work in Europe I am well acquainted, in particular, with the economic problems of Italy and France.

Having studied for prolonged periods in Germany, France and Italy, I speak and write with complete fluency the languages of these countries. I also have a reading knowledge of Spanish.

 

Source:  Harvard University Archives. Department of Economics, Correspondence & Papers 1902-1950. Box 5, Folder “H”.

Image Source: Albert O. Hirschman before he was dispatched to North Africa, circa 1943. From Michele Alacevich’s Introduction to “Albert Hirschman and the Social Sciences: A Memorial Round-Table” posted July 25, 2015.

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Columbia. Memorial Minute for Wesley Clair Mitchell, 1949

 

Memorial minutes entered into a faculty’s record have the virtue of being brief and typically are written by someone who has had a close personal/professional relationship with the subject as seen in the following memorial minute delivered by Wesley Clair Mitchell’s student and later colleague, Frederick C. Mills.

The dual memoir Two Lives–The Story of Wesley Clair Mitchell and Myself, written by Mitchell’s wife Lucy Sprague Mitchell is available at hathitrust.org and provides much detail, e.g. an eight page autobiographical letter written by Mitchell in 1911.

______________________

WESLEY CLAIR MITCHELL
Memorial Minute read by Professor F. C. Mills
February 18, 1949

Wesley Clair Mitchell, Professor Emeritus of Economics, died in New York City on October 29, 1948. In his death the world lost one of the great scholars of our generation and the members of this Faculty lost a distinguished colleague and a cherished friend.

Wesley Mitchell was born in Rushville, Illinois, on August 5, 1874, the son of a country doctor who had won the rank of Brevet Colonel as a Civil War surgeon. The family was of New England stock, and although a middle-western boyhood and later adult years in California and New York left their impress on Mitchell, something of the New England strain was always discernible in the pattern of his thought and life.

Mitchell’s student days, undergraduate and graduate, were spent at the University of Chicago, with a one-year interim period at Halle and Vienna. The influence of the German and Austrian residence was slight; Mitchell was a product of American university training in the period of vigorous growth that came at the turn of the century. His outstanding qualities as an economist were distinctive of ways of thought and study that were largely indigenous to this country. Thorstein Veblen, John Dewey, J. Laurence Laughlin in their several ways deeply affected Mitchell’s thinking and his way of conceiving of the problems of society.

Following a year at the Census Bureau and a short term as instructor at the University of Chicago, Mitchell moved in 1902 to the University of California, at Berkeley, to begin a decade of fruitful work and of steady personal growth. His tools of research were sharpened and his mastery of them perfected. The brilliant studies of the greenback period, in which the pattern of his scholarly work was first defined, were extended. The massive monograph on Business Cycles, one of the great products of scholarship in the social sciences, was here completed. But beyond these solid contributions to economic thought and method this was a rich period inMitchell’s life, to which he always looked back as something of a personal golden age. A young man intellectually somewhat aloof and inclined toward austerity mellowed in the sunshine of the west and in the easy, pleasant companionships of the young University. He took to the Sierras avidly, relishing the free ways, the free language and the physical release to be found in mountain climbing. A companion of those days says that Wesley’s inhibitions were peeled off like the layers of an onion as successive altitude levels were passed. He found a wife, too, in the west; when he left California in 1912 he took with him the Dean of Women of the University.

Wesley Mitchell’s service at Columbia began in 1913 and extended to the date of his retirement in 1944, except for a three-year term at the New School for Social Research. Indeed, his Columbia connection extended, properly, to the day of his death, for there was no time when we did not consider him one of us, or when he did not so regard himself. Mitchell’s reputation had been established by the time he came to Columbia; he had reached full scholarly maturity. Yet his growth continued and his accomplishments multiplied. A steady (but not a voluminous) flow of papers, reviews, addresses and more extensive studies came from his pen. Into each, whether brief or extended, went care in the construction of a logical and orderly argument, skill in the marshaling of evidence, and objectivity in the use of that evidence. Each, too, was in exposition a work of craftsmanship by a man whose ear was extraordinarily sensitive to the rhythms of our language and whose mind was alert to shades of meaning and subtleties of expression.

There was also an almost uninterrupted series of public and professional services and of accumulating honors. He was Chief of the Price Section of the War Industries Board during the first World War, chairman of the President’s Committee on Recent Social Trends, a member of the National Planning Board, the National Resources Board, and the Federal Emergency Administration of Public Works, and chairman of the Committee on the Cost of Living when that burning issue threatened to check the steady production of goods during the second World War. There was the launching in 1920 and the directing for a quarter of a century of a new instrument for the advancement of knowledge—the National Bureau of Economic Research. Over a long stretch of years he helped to break down the barriers between the social sciences and to unify their activities in the Social Science Research Council. He was one of those who founded and shaped the New School for Social Research. Counsel and guidance were given over many years to the Bureau of Educational Experiments. He was called upon to direct the affairs of professional societies, serving as President of the American Economic Association, the American Statistical Association, the Econometric Society, and the American Association for the Advancement of Science. There were elections to learned societies at home and abroad. Honorary degrees came from Oxford, the University of Paris, and from major universities in this country. These were rich honors and they were not unwelcome; but he remained to the day of his death a modest scholar, who would both gladly learn and gladly teach.

It was as teacher and scholar that Mitchell’s greatest services were rendered to Columbia, and it was in these roles that he was best known to us of this Faculty. Mitchell possessed in high degree the qualities of a good teacher. There was insight in his analyses; there was a freshness of view that he never lost; there was lucidity of thought and expression; there was a sense of sharing with the student the task of inquiry. Above all, perhaps, was the sense of integrity. Here was a man without affectation, without pretense, who honestly sought understanding.

The specific contributions that Mitchell made to economics will be duly appraised by his colleagues in that profession. As members of a political science faculty, however, it is proper for us to recognize the service of Mitchell in breaking economics out of the tight formalism of the tradition that prevailed when he came to the subject. He was profoundly unhappy about economics as a branch of logic, dealing with the interaction of atoms in the form of human reasoning machines, subjecting itself only to tests of logical consistency, almost indifferent to the relevance of its principles to complex and constantly changing reality. Mitchell himself was not unskilled in the spinning of deductive arguments, but he was keenly aware of the dangers of self-delusion in unchecked rationalism. His bent was empirical; his emphasis in research was on the constant checking of reason against observation. First in the monetary field, later in the study of prices, of business cycles, and of national income, he developed and refined methods of quantitative analysis and stimulated a movement that has deeply affected the character of economic research and the content of economic thought the world over. But Mitchell’s concern was never with method as method. Man was at the center. Economics was to him on of the sciences of human behavior. And the human being with whose actions he was concerned was a complex creature whose motives could not be reduced to the reasoned balancing of satisfactions against pains or of prospective gains against prospective losses. He stressed the role in economics of institutions — of money, of the industrial system — which man had shaped and which in turn were shaping him; in so doing he helped to turn many younger economists to the study of a neglected phase of economic life. These various aspects of Mitchell’s thought are developed in treatises and shorter papers published over a period of fifty years. They are outstandingly revealed in the series of books on business cycles that are Mitchell’s greatest substantive contribution to economics.

Some of the personal qualities of Wesley Mitchell have been suggested in this brief account of his work. But there was much more than this. He was a lover of poetry whose mind was stocked with verse. He was a connoisseur of mystery stories who could warmly resent the moral betrayal of the reader when the author played unfairly with him. He was a craftsman, skilled in the fine art of woodwork. He was tenacious and unremitting in seeking principles of order in human affairs, yet free from dogmatism and open to criticism and advice from his youngest associates. He was a kindly and generous man, a source of continuing and friendly inspiration to students and colleagues alike. In his life’s work Mitchell served the human race. In his own being he helped to give dignity to that race.

 

Source: Memorial Minute on Professor Wesley C. Mitchell read by Professor F. C. Mills at the meeting of Faculty of Political Science of February 18, 1949. Appended to the Minutes of the Faculty Meeting.

Image Source:Foundation for the Study of Cycles Website  .

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Courses New School Suggested Reading Syllabus

New School for Social Research. Elementary Mathematical Economics. Marschak’s Readings, 1940

 

The previous posting provided a list of economics courses announced for 1939-40 at the Graduate Faculty of Political and Social Science at the New School for Social Research. There we read that Dr. Jakob Marschak was to take over the courses taught by Gerhard Colm during the latter’s leave of absence to work in Washington, D.C. It just so happens that in the Papers of Franco Modigliani at Duke’s Economists’ Papers Archive I happened to have found the following reading list for Marschak’s course, Elementary Mathematical Economics, from the Fall term of 1940. Links to almost all of the books on Marschak’s list have been provided below. Those interested in the articles will need to go to a research library with access to jstor.org or having (gasp) hard-copy journal volumes in their collections.

______________________

Graduate Faculty of Political and Social Science
New School for Social Research, 66 West 12 Street, New York City

Fall 1940

Elementary Mathematical Economics
Dr. Jakob Marschak

*Available in New School Library

I. Introductory and General

*Allen, R.G.D. Mathematical Analysis for Economists. 1938
Thompson, S. Calculus Made Easy. 1919
Fisher, Irving A Brief Introduction to the Infinitesimal Calculus. 1897
Osgood Introduction to the Calculus. 1922
   “ Advanced Calculus. 1925.
Courant Differential and Integral Calculus. 2 volumes (1934, 1936)
[Volume One; Volume Two.]
Evans, G. Mathematical Introduction to Economics. New York. 1930
Bowley, A. Mathematical Groundwork of Economics. Oxford. 1924

 

II. Statics of National Output (Macro-Statics)

*Fisher, Irving The Purchasing Power of Money
Marschak, J. Stationary Society with Monetary Circulation. Econometrica. 1934.
Hicks, J. Mr. Keynes and the Classics. Econometrica. 1937

 

III. Statics of Consumers and Firms (Micro-Statics)

(a) Consumers

Edgeworth, F. W. Mathematical Psychics. 1883 (re-edited recently)
*Marshall, A. Principles of Economics. Mathematical Appendix (8th edition)
Hicks, J. and Allen, RGD A Reconsideration of the Theory of Value, Economica. 1934
Hicks, J. Capital and Value. Chapters I – IV 1939
Hotelling, H. Demand Functions with Limited Budgets. Econometrica. 1935
Marschak, J. Personal and Collective Demand Functions. Review of Economic Statistics. 1939

(b) Firms

*Cournot, A. Mathematical Theory of Wealth. 1838. American edition by Irving Fisher. 1927
Hicks, J. Survey of Economic Theory: Imperfect Competition. Econometrica. 1935
Brown, E. H. Phelps Efficacy of Factors of Production. Econometrica. 1936. (3 articles)

(c) General Equilibrium and Distribution

Fisher, I. Mathematical Investigations on Value. Re-edited 1925. New Haven
Walras, L. Éléments d’Économie Politique Pure. 1936
Pareto, V. Manuel d’Économie Politique
Hicks, J. & Walras L. Econometrica. 1934
*Wicksell, K. Lectures, Volume I
Kalecki, M. The Determinants of Income Distribution. Econometrica. 1938
*Douglas, P. The Theory of Wages. New York. 1934
Edelberg Production and Distribution. Econometrica 1936
Fisher, I. The Theory of Interest. 1930

 

IV. Dynamics

Whitman Dynamics of Costs. Econometrica. 1936
Kalecki, M. Essays in the Theory of Economic Fluctuations. London. 1939
*Tinberbergen, J. Verification of Business Cycles Theories. 2 volumes. Geneva. 1939

[Statistical Testing of Business-cycle Theories:
Part I: A Method and Its Application to Investment Activity
Part II: Business cycles in the United States of America, 1919-1932]

   “ Explanations: Review of Economic Studies 1940. Economic Journal. 1940
Frisch, R. Propagation in Dynamic Economics, in Economic Essays in Honor of Gustav Cassel, London, 1933.

 

V. Economics and Probabilities

Hagstroem. Pure Economics as a Stochastical Theory. Econometrica. 1936
*Knight, F. H. Risk, Uncertainty and Profit. New York. 1921 and 1933
Pigou, A. C. Economics of Welfare: Appendix on Risk
Marschak, J. Money and the Theory of Assets. Econometrica. 1938
Neyman, J. Lectures on Mathematical Statistics. Chapters on Time Series. Department of Agriculture, Washington

[Lectures and Conferences on Mathematical Statistics, mimeographed, 1938. Augmented second edition in 1952.]

Cowles, A. Can Stock Market Forecasters Forecast? Econometrica. 1933
Jones, H. E. Time Regression Analysis. Econometrica. 1937

 

Source: Duke University. Economists’ Papers Archive in David Rubenstein Library. Papers of Franco Modigliani. Box T1, Folder “Jacob Marschak’s Course, 1940-1949”.

Image Source: Carl F. Christ. History of the Cowles Commission, 1932-1952

Categories
Courses Curriculum Economists New School

New School for Social Research. Economics Courses, 1939-40

 

 

The Graduate Faculty of Political and Social Science of the New School for Social Research was established in 1933.

The following announcement of economics course offerings for the academic year 1939-40 was published in the second three year report of the Dean of the Graduate Faculty that was published in September 1939. Two changes in the course staffing for the year were noted in the report:

  • Emil Lederer, died May 29, 1939.
  • Gerhard Colm was granted a leave of absence to serve as adviser on economic and fiscal affairs to Harry Hopkins, Secretary of Commerce, Washington, D. C., during the year 1939-1940.

Upon consulting a few genealogical websites I was able to determine that Richard Schüller only arrived in New York the following year.

For those wanting serious biographical data:  Harald Hagemann and Claus-Dieter Krohn (eds.), Biographisches Handbuch der deutschsprachigen wirtschaftswissenschaftlichen Emigration nach 1933 (2 vols.). Munich: K. G. Sauer, 1999.

_______________________________

Announced Economics Courses by the Graduate Faculty, 1939-1940

EMIL LEDERER*

History of Economic Thought
Problems of the Business Cycle
Socialism, Communism, Fascism

ALFRED KAHLER

History of Economic Thought
History of American Labor and the Labor Movement
Applied Statistics

EDUARD HEIMANN

Economic Theory
Theory of Capital and Interest
Theory of a Planned Economy
History of Capitalism
Marxism

GERHARD COLM**

Basic Problems in Economics
Public Finance
Business and Taxation
Public Investments

RICHARD SCHULLER [sic]***

Strategy and Tactics in International Trade Negotiations
Studies in the Statistics of International Trade

HANS STAUDINGER

Principles of Economic Policy
Natural Resources in the National Economy
Economic Geography and International Distribution of Raw Materials
Modern Organization in Industry and Transportation
The Significance of Population Movements

ARTHUR FEILER

Current Economic Problems
Recent Trends in International Economic Relations
Economics of Bolshevism and Fascism

FRITZ LEHMANN

Advanced Monetary Theory
Selected Chapters in the Economics of Enterprises
Current Economic Problems
Money and Banking
The Financial Page

FRIEDA WUNDERLICH

Labor Problems
Labor Legislation and industrial Relations
Trade Unionism
Industrial Relations
Social Security

 

*Dr. Lederer’s Courses will be given by various members of the Faculty.

**These courses will be given by Dr. Jakob Marschak.

***Schüller did not leave England until July 1940.

 

SOURCE: Report of the Dean of the Graduate Faculty of Political and Social Science in the New School for Social Research, September 1939, pp. 36-57. Gerhard Colm Papers, Box 24, Folder 12 (Library of Congress, Washington, D.C.).

Image Source: Webpage, The New School History Project.