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Statistical Society. On the Relation of Statistics to Political Economy. Address by William A. Guy, 1865

 

I am afraid I can’t recall any details from the wild-goose chase that serendipitously landed me at the following 1865 address by the forensic physician/statistician William August Guy. His speech to the British Statistical Society covered everything from the origins and usages of the word “statistics” through its relation to political economy and “social sciences” (his quotes).  

There is much interesting in these 1865 musings, but perhaps my favorite quote is the following:

…the sciences which have to do with living beings, whether in the vegetable or animal kingdom, must rest their claims rather upon the fidelity of their descriptions, and the soundness of their classifications, than on the fulfilment of their predictions or the power which they can exert. The knowledge which they have acquired by the observation of many individuals differing widely from each other, cannot be applied with certainty to the individuals themselves, but only to groups of individuals similar to those which first supplied the knowledge. And that which is true of the plant or the animal, is true of individual men as members of society. It is from groups of persons that we obtain our knowledge; it is to like groups that we apply it. We cannot, therefore, refuse to the Actuary who first collects and arranges facts relating to the duration of human life, and then calculates the expectation of life, the title of a man of science, for no better reason than that his calculations possess the high utility of which I have been speaking, not when applied to the individual man, but only when brought to bear (as in life assurance) on great numbers of persons. And so must it be with the Statist, in the sense in which I would use the term. He collects and arranges his facts, calculates their average value, marks, in some cases, their extreme values, and would make application of his knowledge to the groups or classes to which the facts relate, but that the right and power of action rests with the State and not with him. But the fact that the results which he obtains are applicable in practice not to individuals but to classes, and the accident, so to speak, which separates the discovery of truth from the power of applying it, cannot destroy the dignity of his pursuits nor rob statistics of its right to take rank among the sciences.

I have made a few editing corrections, e.g. correcting misspellings in German, for the sake of assisting text searches by others.

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Biography of William August Guy

GUY, WILLIAM AUGUSTUS (1810–1885), statistician, was born in 1810 at Chichester, where his male ancestors for three generations had been medical men. Hayley, in his ‘Life of Romney,’ says of his grandfather, William Guy, that he won Cowper’s heart at sight, and that Romney would have chosen, him as a model for a picture of the Saviour. Guy spent his early life with this grandfather and then went to Christ’s Hospital, and for five years to Guy’s. He won the Fothergillian medal of the Medical Society of London in 1831 for the best essay on asthma, and afterwards entered at Pembroke College, Cambridge, where, after further study for two years at Heidelberg and Paris, he took his M.B. degree in 1837. In 1838 he was appointed professor of forensic medicine at King’s College, London, in 1842 assistant-physician to King’s College Hospital, and from 1846 to 1858 he was dean of the medical faculty. He early directed his attention to statistics, and was one of the honorary secretaries of the Statistical Society, from 1843 to 1868. In 1844 he gave important evidence before the Health of Towns Commission on the state of printing offices in London, and the consequent development of pulmonary consumption among printers. He took part in founding the Health of Towns Association, and was incessantly occupied in calling public attention to questions of sanitary reform by investigations (statistical and medical), lectures, and writings. He thus rendered valuable services in connection with the improvement of ventilation, the utilisation of sewage, the health of bakers and soldiers, and hospital mortality.

He edited the ‘Journal of the Statistical Society’ from 1852 to 1856, was vice-president 1869-72, and in 1873-5 he was president of the society. He was Croonian (1861), Lumleian (1868), and Harveian (1875) lecturer at the Royal College of Physicians, and was frequently censor and examiner of the college. In 1878 he was appointed one of the royal commissioners on penal servitude, and on criminal lunatics in 1879. In 1876-7 he was elected to the post of vice-president of the Royal Society.

Guy’s ‘Principles of Forensic Medicine,’ first published in 1844, and frequently reedited, is now a standard work, the fourth and later editions having been edited by Dr. David Ferrier. Although often consulted in medico-legal cases he would never give evidence publicly, partly from over-sensitiveness, partly from want of confidence in juries. Guy retired from medical practice for many years before his death, retaining only his insurance work. His sympathies were broad, as were his political and religious views. He died in London on 10 Sept. 1885, aged 75.

Guy’s larger works are: 1. ‘R. Hooper’s Physician’s Vade-Mecum; enlarged and improved by W.A.G.,’ 1842 (many subsequent editions). 2. ‘Principles of Forensic Medicine,’ 1844; 4th edition, 1875, edited by D. Ferrier. 3. T. Walker’s ‘Original,’ edited with additions by W.A.G. 1875; another edition 1885. 4. ‘Public Health; a Popular Introduction to Sanitary Science,’ pt. i. 1870; pt. ii. 1874. 5. ‘The Factors of the Unsound Mind, with special reference to the Plea of Insanity in Criminal Cases,’ 1881. 6. ‘John Howard’s Winter’s Journey,’ 1882.

Guy published several lectures, and contributed many papers to the Statistical Society, including the ‘Influence of Employments on Health,’ ‘The Duration of Life among different Classes,’ ‘Temperance and its relation to Mortality,’ ‘The Mortality of London Hospitals,’ ‘Prison Dietaries,’ and ‘John Howard’s True Place in History.’

 

Source: “Guy, William Augustus” by George Thomas Bettany in Dictionary of National Biography, 1885-1900, Volume 23.

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On the Original and Acquired Meaning of the term “Statistics,” and on the Proper Functions of a Statistical Society: also on the Question whether there be a Science of Statistics; and, if so, what are its Nature and Objects, and what is its Relation to Political Economy and “Social Science.”

By William A. Guy, M.B., F.R.C.P., one of the Honorary Secretaries of the Statistical Society.

[Read before the Statistical Society, 21st November, 1865.]

It cannot, I think, be denied that those who cultivate the branch of knowledge which this Society was established to foster and promote, are held in less estimation than men who devote the same labour and similar talents to many other pursuits. This arises in part from misapprehensions as to the meaning of the word “Statistics,” and as to the objects and aims of statistical inquiries; and in part to the common mistake of confounding the laborious collection of facts which constitutes the second process of every sound statistical inquiry with the whole procedure, overlooking alike the judgment and scientific insight which planned the inquiry, and the critical and analytical talent employed in discovering and displaying the truth. The aim of this communication is to vindicate the claim of Statistics to an honourable place among the sciences, and of statistical inquiries to the credit of which they have been unintentionally deprived. In carrying my purpose into effect, I shall observe the order of inquiry indicated in the title of the paper itself.

1. On the Original and Acquired Meaning of the term “Statistics.”

The word “Statistik,” from which the English “Statistics” is derived, is somewhat more than a century old. It appears to have been first used by Gottfried Achenwal, professor of law and politics at Göttingen, in his work entitled “Staatsverfassung der heutigen vornehmsten Europaischen Reiche und Völker,”* of which the first edition bears date 12th April, 1749. [Abriß der neusten Staatswissenschaft der vornehmsten Europäischen Reiche und Republicken] The word Statistik does not appear on the title page of the book, but is printed in large letters at the head of a short sketch of the bibliography of politics prior to the appearance of the author’s work. This sketch is headed “Vorbereitung von der STATISTIK [Staatskunde] überhaupt,” and gives a list of ten works in Latin and German published between the years 1668 and 1750, which works are best described as treatises on universal history; and it is followed by a philosophical disquisition in sixty-one sections, respecting the several elements which go to make up a full and complete history of a modern State. It is in this introduction that the original meaning of the term statistics is to be sought.

*The sixth edition of this work has been purchased for the library of the Society.

Now we find the author incidentally defining the term Statistik as that branch of learning (Disciplin) which occupies itself with the extent, limits, subdivisions, and natural relations of States, their advantages, their history, and their origin; as the description of the political constitution of one or more States; as synonymous with Staatskunde and Staatsbeschreibung (the science and the description of States). By statistics (die Statistik), he says, we attain to a knowledge of States and their constitution. But it is not everything that can be truly said of a State that properly finds a place in statistics, but only what contributes to political knowledge, and conduces, in an eminent degree, to the welfare of a State; so that the more any matter concerns the general well-being of a State the more necessary is it that it should find its illustration in statistics. Again, it is not what the vulgar care most about that proves most attractive to the statistical inquirer. The number of swine, or the first use of coffee in country parts, has more importance in his sight than the pedigrees of noble houses. And again, in speaking of statistical collections, the author insists that the facts of which they consist, should be as little as possible mixed up with reasonings. They ought to be mere facts. Lastly, this Statistik is worthy of honour, for from it history borrows a considerable portion of her light, to general public law it contributes most valuable material, and it enriches politics with a multitude of practical data.

What the author really means by statistics, is practically shown in the eight short treatises on Spain, Portugal, France, Great Britain, the Netherlands, Russia, Denmark, and Sweden, which constitute the body of his work. Taking Great Britain as our example, we find him first giving (in seven short sections under the head of Staatsveränderungen) a short history of our origin and growth; then under the head of Länder, an account of our boundaries, climate, mountains, and streams, of our constituent parts, and their divisions into counties, with their productions; then under the head of Einwohner,* the number of inhabitants, and their character; next under Staatsrecht, our fundamental laws, the order of regal succession, the prerogatives of the crown, the character of the government, the estates of the realm, the houses of parliament; next, under the head of Hof- und Regierungsverfassung, the titles of the king and crown prince, the royal arms, the officers of state, the privy council, the State religion, our universities and places of education, our local government, our legal procedures, our manufactures, internal traffic, und external commerce, our coinage, our finances, system of taxation, and national debt, our army and navy. This account of Great Britain is finished by a short chapter headed Staatsinteresse, in which the author sets forth in few words what he conceives to be the causes of the then prosperity of the nation which he, perhaps not inaptly, designates “the paradise of lawyers.”

It will be seen, then, that Achenwall uses the word Statistik as strictly synonymous with Staatskunde, or State-science, and Staatsbeschreibung, or the description of States; and that under the name of statistics he describes the actual condition of a State under all its aspects—territorial, political, educational, religious, industrial, commercial, and financial—its means of offence and defence being given as a necessary part of its history, but the exploits of its army and navy being passed over or lightly touched upon. It will be seen also, that the use of figures is not insisted on, although facts, pure and simple, and as much as possible disencumbered of theories, are commended as of the greatest value.

From the general tone and spirit of Achenwall’s introductory chapter, I infer that he felt the want of some one comprehensive word which should supersede the many terms in use at the time at which he wrote, such as Staatskunde, Staatsbeschreibung, Staatslehre, Staatswissenschaft, Staatsrecht, Staatskenntniss, Staatsklugheit, &c. The meaning of some of these terms he defines very clearly, as in the following passage. “Staatslebe teaches how States should be: “Staatskunde describes them as they are: Staatsgeschichte shows “how they have become what they are. Staatskunde is a stationary “Staatsgeschichte, as this is a progressive Staatskunde. It must “be understood, then, that we are not now treating of a States-history according to the taste of the Anno Domini men, but “according to that of Robertson, Lagerbring, Gyannoni,” &c.

The word Statistik, then, means the description of States as they are; and the description contemplated by the author is obviously such an one as the best modem historians carry into practical effect when they contend that history should not be a mere record of names, dates, wars, and political struggles, but also afford complete and faithful pictures of manners and customs, sciences and arts, industry and commerce—of everything, in fact, which contributes to the wealth, strength, honour and dignity of a nation.

Additional light is thrown on the meaning of the word Statistik by the incidental use of the word Staatisten or Staatsgelerten, the learned in matters of state, a word which is evidently the exact equivalent of the word Statist, which our old English writers frequently employ—always in the sense of a man versed or busied in State matters, but with shades of difference. Shakespeare seems to use it in the sense both of politician and statesman. Ford, in the latter sense. Beaumont and Fletcher contrast statists with men of action. Milton speaks of statists and lawyers, and seems to use the word statist as synonymous with statesman, and with patriot. Wood describes Gardner as a great statist. Sir Thomas Browne classes statists and politicians together. Lastly, Carlyle quotes an old proverb, not intended to be very complimentary to us, “as the statist thinks the bell clinks.” The word “statism,” again, is used by some old authors as synonymous with “policy,” “the arts of government,” or statecraft; and the words “Statistical” and Political,” “Statist,” “Statesman,” and “Politician,” are given as equivalent terms by Todd in his edition of Johnson. For most of these references, which are given in extenso below,* I am indebted to Todd’s edition of Johnson’s “English Dictionary” and Richardson’s “English Dictionary;” and I bring this part of my paper to a close by quoting the definition of Statistics given in those works.

“Statisticks (from Statism or Statist). That part of municipal philosophy which states and defines the situation, strength, and resources of a nation.”—Todd’s Johnson.
“Statistick (Fr. Statistique) is a word for which we are said to be indebted to a living writer. Statisticks is applied to everything that pertains to a State—its population, soil, produce, &c.”—Richardson.**

* “The greatest politician is the greatest fool; for he turns all his religion into hypocrisy, into statisme, yea into atheism, making Christianity a very foot-stool to policy.”—Junius, Sin Stigmat (1639), p. 613.
“Hence it is that the enemies of God take occasion to blaspheme, and call our religion statism.”—South, vol. I, sermon 4.
“And besides them I keep a noble train,/Statists and men of action.”—Gonzales. Beaumont and Fletcher, Laws of Candy, act ii, scene 1.
“You are an eminent statist, be a father/To such unfriended virgins, as your bounty/Hath drawn into a scandal.” Ford, The Fancies Chaste and Noble, act ii, scene 3.
“Statists indeed,/And lovers of their country.” Milton Paradise Regained.
“Though he (Cicero) were sparing otherwise to broach his philosophy among statists and lawyers.”—Milton, Doct. and Disc. of Divorce, b. ii, c. 3.
“The people looking one while on the statists, whom they beheld without constancy or firmness.”—Milton, History of England, vii, b.ii.
“He (Gardner) was a learned man and of excellent parts, a great statist, and a writer of many books.”—Wood, Fasti, Oxon, vol. i.
Posthumus to Philario. “I do believe/(Statist though I am none, nor like to be)/That this will prove a war.” Shakespeare, Cymbeline, act ii, scene 4.
“I once did hold it, as our statists do,/A baseness to write fair.” Hamlet to Horatio. Hamlet, act v, scene 2.
“As the statist thinks, the bell clinks.”—Old Proverb.
Statists and politicians unto whom Ragione di Stato is the first considerable, as though it were their business to deceive the people.”—Sir Thomas Browne, Pseudodoxia Epidemica (Vulgar Errors), book i.
Statists that labour to contrive a commonwealth without our poverty, take away the object of charity, not understanding only the commonwealth of a Christian, but forgetting the prophecy of Christ.”—Sir Thomas Browne, Religio Medici, part ii, 1642.

**The living writer here spoken of is probably M. B. P. Capper, “Statistical Account of the Population, &c., of England and Wales, 1801.”

How the word Statistik came to undergo so considerable a change of meaning, as to imply not a history or description of States and Kingdoms, but only a part of the materials of which such history or description is composed (as if for a stately building we were to substitute the bricks or stones, for a finished painting some only of the colours), it would not be easy to point out, nor would the search after the facts repay the labour of the investigation. Suffice it to state that such a change had already taken place when this Society was first called into existence in the year 1834.

On referring to the Report of the third meeting of the British Association, held at Cambridge in 1833, I find Professor Sedgwick stating from the chair that, in addition to the five existing sections, another, originating with some distinguished philosophers, had come into operation, the object of which was to promote statistical inquiries. The president thought it necessary to justify the addition of this sixth section, and, in doing so, insisted that it should limit itself to “matters of fact,” “mere abstractions,” and “numerical results,” constituting what might be called “the raw material to political economy and political philosophy,” by which perhaps “the “lasting foundations of those sciences may be ultimately laid.” The formation of this new section was referred to in the following year as the prelude to the establishment of a flourishing society which acknowledged itself the offspring of the Association, and promised, by a similar procedure, to advance materially the greatly neglected subject of British statistics. The prospectus of our Society, which was printed in the Transactions of the Association, fixed the date of our foundation as the 15th March, 1834, and set forth very clearly our objects and plan. It stated that the Statistical Society of London was established for the purpose of procuring, arranging, and publishing “facts calculated to illustrate the condition and prospects of society,” that ” the first and most essential rule of its conduct” was “to exclude carefully all opinions from its transactions and publications—to confine its attention rigorously to facts—and, as far as it may be found possible, to facts which can be stated numerically, and arranged in tables.”

It will be seen, then, that at the date of the establishment of the Statistical Section of the British Association, and of this Society (its offspring), statistics had already come to mean rather the materials of a science than the science itself. As Professor Sedgwick understood the word, it represented mere facts to be used as the raw material of political economy and philosophy, but as the Founders of our Society apprehended it, the facts were to be applied to the building up rather of a social than of a political edifice. But there was one point upon which all parties seem to have been agreed. The statistical labourer was not to be indulged with the luxury of opinions; he was to be a patient drudge, binding up his sheaves of wheat for others to thresh out. The very crest and motto of the Society, stared him in the face from the cover of every Journal, reminding him of the humble and unintellectual work expected at his hands. In putting forth this restricted and unattractive programme, the British Association seem to have been actuated by a desire to secure for the new section facts as trustworthy as the observations and experiments in physical science, with which the other sections had to do; while the Statistical Society wished to separate itself as much as possible from the hypotheses and unfounded assertions which had heretofore formed great part of the stock in trade of the political economist and social reformer. But both parties overlooked the fact that the new section of the Association on the one hand, and the Statistical Society on the other, had other functions to discharge than that of mere depositories of facts. Meetings were to be held at stated intervals, which should offer to those who attended them, such attractions as are put forth by other societies. The members would expect to listen to, and to take part in, not merely dry strictures on the author’s facts and figures, the soundness of the units, and the sufficiency of the numbers, but discussions on the broad principles which the figures might seem to suggest or establish. If the author could succeed in concealing or stifling his opinions, his audience would not be restrained from expressing theirs; and it was surely hard to deny him a liberty which could not be refused to them.

It is obvious, too, that exactly in proportion to the talent and originality of the author, and the desire of the members to profit by his labours, would be his own restiveness under the restrictions imposed upon him. Accordingly, as early as May, 1835, we find Mr. Hallam, the treasurer of the Society, at a meeting at which he himself presided, “giving an account of regulations enacted by the magistrates of Ypres, for the maintenance of the poor in the year 1530,” in which account there does not occur a single figure, much less a single tabular statement, but the distinctly expressed opinion that these Belgian provisions for the poor formed the model for our own English legislation in the reigns of Henry VIII and Elizabeth: and in December of the same year, Mr. G. R. Porter reads a paper “On the Connection between Crime and Ignorance, as exhibited in Criminal Calendars.” Now Mr. Hallam begins his communication by remarking “that it seems within the province of the Statistical Society to collect such information from the history of past times, as illustrates the condition of society, especially in relation to the more important discussions of political economy;” and Mr. Porter, after rehearsing the objects of the Society, observes “that occasions will sometimes arise when it may be permitted to the members of the Statistical Society to offer the result of investigations whereby they may have detected fallacies, and especially those which have been suggested, and are apparently supported by inquiries more strictly coming within the limits of statistical labours.” Thus early, then, in the history of this Society, do we find its very founders and office-bearers, men of whom we are justly proud, breaking through the narrow bounds within which it was sought to confine them, and setting at nought the self-denying ordinance which, had it been narrowly observed and strictly acted up to, would have made the Statistical Society of London a very bye word for contented dullness and senseless drudgery. But fortunately for us the Society has become moulded almost imperceptibly into a more attractive form. The facts and figures of many of our most valued contributions have first been collected and arranged by men who submitted to the labour because they had opinions which they wished to bring to the test, and have then been brought before us instinct with the living energy, and force which thought lends to fact.

The most cursory examination of the Journals of the Society, or of the excellent Index to their contents, must serve to convince us that the eminent men to whom I have just referred, did not stand alone in their disobedience to the strict letter of our original prospectus. Their successors followed their example, and produced papers for discussion at our evening meetings, and for subsequent publication in the Journal, of which it may be worth while to attempt an analysis. I find that these papers admit of being arranged in at least as many groups as those which follow:—

  1. Papers giving an account of the existing state or condition of entire nations or kingdoms—such an account as Achenwall himself would have designated by the term Statistik.
  2. Papers giving a similar account of parts only of such nations or kingdoms, of provinces, counties, districts, cities, towns, and parts of towns, rural districts, and villages. These descriptions would probably have received from Achenwall the same designation.
  3. Papers discussing, in relation to whole kingdoms, or parts of them, such matters as education, crime, industry, health, wealth, manufactures, commerce, special branches of industry and production, &c.
  4. Reports of the inquiries of committees appointed by the Council, as the Committees on Education in Westminster, Finsbury, and London, on the state of Church Lane, St. Giles’s, on Registration and the Census, on Beneficent Institutions, &c.
  5. Polemical papers, contesting the opinions of authorities past or present, as derived by them from the use of numerical returns or otherwise.
  6. Papers on the numerical method, and the scientific treatment of facts and figures.
  7. Papers discussing, without the aid of figures, some historical question, or some question relating to the proper meaning and use of terms employed by the political economist or student in some allied science. These papers are few in number, and may be looked upon as exceptional.
  8. Papers on subjects belonging properly to some well defined branch of science, such as physiology or medicine, admitted into the Journal as rich in facts and figures, but having no direct bearing on the objects of “statistics” properly defined. Such are some parts of the paper of Dr. Clendenning “On the Relative Frequency of Pulmonary Consumption and Diseases of the Heart,” published in the first volume of the Journal, and the greater portion of that of Dr. Hutchinson, “On the Results of Experiments with the Spirometer,” published in vol. vii.

This classified outline of the papers submitted to the Society for discussion, and printed in our Journal, will prepare the way for the consideration of the second subject comprised in the title of my paper, namely,

2. The Proper Functions of a Statistical Society.

It will not, I think, be disputed that Achenwall’s definition of the word Statistik is quite in keeping with the now acknowledged functions of a statistical society, and that if the meaning of the term be so enlarged as to embrace not States or kingdoms only, but all their constituent parts, the functions of the society may be very properly enlarged in a like degree.

Again, it will not be denied that Achenwall was right in insisting upon the value of facts, nor that a statistical society would forfeit its distinctive character, if it did not aim at collecting, arranging, and tabulating facts, as its means of illustrating and describing the actual condition of States, Kingdoms, and their constituent parts.

But it is evident that the definition of Achenwall, even with the extension here indicated, would be too narrow to embrace all the proper functions of a statistical society, as now generally understood. Something more than a true history and description of States and their constituent parts is clearly implied in the words used by our founders, when they describe our object and plan to be the procuring, arranging, and publishing “facts calculated to illustrate the condition and prospects of society.” Now the word “society” is evidently not synonymous with the word “State,” and it is doubtful whether Achenwall ever proposed to himself that minute and comprehensive survey of man as a being living in society which our founders had in view. He contemplated, as I think, an improved history of States; we an improvement in the condition of the individual, the constituent unit of the State. He aimed at a correct knowledge of States for the sake of the knowledge itself; we at a perfect knowledge of the individual, with a view to his improvement as a man, such knowledge being impossible of attainment through the isolation of an individual from the class to which he belongs, inasmuch as the propriety of the selection might be questioned; such improvement being equally impossible through the obvious inadequacy of remedial measures, applied merely in detail, to individuals suffering some common injury. Hence the necessity of large numbers of facts.

The true conception of the functions of a statistical society may, I think, be best arrived at by combining into one comprehensive sentence the definition of Achenwall and the statement of our prospectus, and adding to this combined formula, such minor details as are obviously suggested by the proceedings and usages of our Society. If this view of the matter be correct, the following summary of the proper functions of a statistical society will not be very wide of the truth :—

  1. To collect and preserve facts illustrating the past and present condition and probable future prospects of States and their territorial divisions, and of the several classes of their inhabitants. This is best done by means of a library, well arranged and duly catalogued, containing both books and manuscripts.
  2. To add to existing facts by the special inquiries of committees, or of persons appointed for the purpose.
  3. To promote the discussion of unsettled questions and the correction of erroneous views in political and social economy, by arranging for the reading of papers at periodical meetings to be held for the purpose, such papers only to be deemed to be within the province of the Society, as make use of facts and numerical statements in support of the views therein expressed.
  4. To encourage to the utmost all efforts tending towards the establishment of sound principles for the guidance of those who engage in the work of collecting, arranging, and tabulating facts, and in applying the numerical method to the discovery of truth.
  5. To discourage the improper use of the word statistics as a mere synonym for collections of facts, irrespective of the use to which they are put; and to uphold the dignity of the Society as applying facts of a peculiar order to purposes of the highest utility.
  6. To discourage and repress all encroachments on the arena of politics, as objects of party strife.

Such would appear to be the proper functions of a statistical society as determined by a joint consideration of the original meaning of the term Statistics, the programme of our Society, and our experience of its actual working.

3. Is there a Science of Statistics; and, if so, what are its Nature and Objects, and what is its Relation to Political Economy and Social Science?

It is obvious that we are not in a condition to answer the question, whether there be a Science of Statistics, until we have first settled (if that be possible) the meaning of the word Science itself; and it is equally obvious that this word is one of very unsettled import, having every shade of meaning between knowledge arranged and methodised, and certainty based on demonstration. On consulting the same Dictionaries from which I collected the meanings of the words Statist and Statistics, I learn that according to the usage of the best authors, science may either retain its original meaning namely, knowledge, or come to signify any “one of the seven liberal arts,” or “any art attained by precepts or built on principles,” or “certainty grounded on demonstration.” If Shakespeare and Pope may be cited as authorities for the right use of words, music and mathematics are sciences, as are also the seven “liberal arts,” grammar, rhetorick, logick, arithmetick, musick, geometry, and astronomy. Glanville, a prose writer cited by Johnson, goes the extreme length of speaking of the “indisputable mathematics” as the only science heaven hath yet vouchsafed to humanity. Gibbon seems to use the word science as equivalent to the word speculation.

But the adjective, scientifick, appears to have been used by our best prose writers in one and the same sense of demonstration or certainty. Thus Sir Thomas Browne appears to consider science as “natural philosophy proceeding from settled principles,” and issuing in “a sure and rational belief;” Howell speaks of scientifical knowledge, as something of unusual excellence; South of scientifick evidence as something surpassing “high probability” and “moral certainty;” and Locke has the phrase “scientifical or demonstrative reasoning,” and speaks of “a comprehensive, scientifical, and satisfactory knowledge of the works of nature.”*

* See Todd’s Johnson, and Richardson’s “English Dictionary,” under the words ” Science” and ” Scientifick.”

If from the works of authors cited in dictionaries, we pass on to consider the more formal definitions of science as given by our best authorities, we find great differences of meaning. I will content myself with quoting two eminent scientific men, Sir John Herschel and Professor Sedgwick. The former, in his “Discourse on Natural Philosophy,” p. 18, tells us that “Science is the knowledge of many, orderly, and methodically digested and arranged, so as to become attainable by one.” The latter understands by science (I quote from his address to the British Association in 1833), “the consideration of all subjects, whether of a pure or mixed nature, capable of being reduced to measurement and calculation.” These definitions may be taken to indicate the two extremes of meaning of the word Science. It can mean nothing less than the one, nor more than the other. But perhaps its true meaning is to be gathered not from dictionaries or from the definitions of philosophers themselves, but from a close examination of its primary and secondary uses as drawn from examples. It is in this way that I shall myself attempt to answer the question—What is a science?

In the first place, it is obvious that the word Science originally meant knowledge, as the word Art meant skill, and that a science meant a special application of knowledge as an art did a special application of skill. But it is also obvious that the words science and art have ceased to be exactly synonymous with knowledge and skill. They evidently mean knowledge and skill with certain qualifications and reservations.* An art, so long as it continues to be a mere affair of skilful handiwork, remains an art; but directly it submits itself to the guidance of well ascertained general principles, it may claim to be a science, provided only that its applications have a certain largeness of scope, combined with utility of a high order. Thus there is an art of music, and a science of musical composition; an art of drawing, and a science of perspective; an art of construction, and a science of architecture; an art of reasoning, and a science of logic; an art of persuasion, and a science of rhetoric; an art of calculation, and a science of arithmetic. In all these instances the art has a large aim and an undoubted utility as ministering to some universal want, or some general craving for refined amusement of the senses and mind, while the science is characterised by the universality and precision of its application to the special instances created by the corresponding art.

* “Knowledge, emphatically, not imperfect or protended.”—Richardson’s English Dictionary.”

An examination, therefore, of the arts that have grown into sciences, and are generally acknowledged to deserve the name, shows that the characteristic of sciences is the possession of general principles applied with precision to individual instances furnished by the arts out of which they have grown, or to which they lend their aid. In some instances, it will be seen that the principles of the science, though precise, are few in number, while the art is characterised by largeness of application within very narrow limits. Such is the science of logic as applied in the art and act of reasoning. In other cases, arts draw their rules of practice from more than one science, as is the case with architecture, which rests on the sciences of construction and ornamentation; or with the modern art of war, which uses the sciences of projectiles and of fortification, to which may perhaps be added the science of chemistry, and possibly a science of self-defence, of which fencing, with its precise phrases and definite rules of procedure, is the highest development.

In order, then, that any special application of knowledge or of skill may attain to the dignity of a science, and claim its patent of nobility, it must show universality and precision in its principles or rules, and utility of a high order in the application of them. But to these marks or signs of science, we must make some addition if we would satisfy the requirements of those who use the word science in its most restricted sense. They will have it that the principles or rules in question must not only be universally applicable to all suitable special instances, but they must be expressed in figures of arithmetic, and the results of their application must be certain. The eclipse must happen to a moment, and last for its calculated period; the elements of a compound body must combine in their atomic proportions to the ten-thousandth of a grain; musical notes must be so arranged and combined, as not to offend the most sensitive ear; and the lines of a drawing in perspective, must fall with such minute precision, that the most practised eye shall not detect the least departure from nature.

But is it not obvious that to limit the application of the word science thus narrowly, is to deny the use of that honourable title to some of those branches of knowledge which have been enriched by the greatest and most fruitful discoveries? Surely the men who in practising the noble art of healing, walk in the light of the discoveries of Harvey and Charles Bell, who have attained to the prevention of at least one loathsome malady, and to the performance of operations without pain; who have completed their knowledge of anatomy, and made great progress in the study of minute structure, of the chemical components of the body and its secretions, and of the subtle causes of disease; who make constant and skilful use of the most delicate instruments of investigation; who possess many approved remedies, some of which they apply with certainty to the cure of some maladies, and to the relief of others; have a claim to a higher title than that of mere artists, and may speak of themselves as men of science, and boast of a science of medicine, though their few certainties are mixed up with much that is purely conjectural, and their best knowledge runs like a golden thread through a tissue of imperfectly ascertained facts. For like reasons it would be unjust to those who practise the excellent arts of farming and horticulture in the light of modern discoveries to refuse to acknowledge a science of agriculture; and to the statesmen who administer the affairs of nations on the principles established by such men as Adam Smith, a science of political economy.

But in actual practice the term science is applied to branches of knowledge which are nearly or quite innocent of the use of figures; as, for instance, to Botany, which had earned its title by careful classification and exact description, even before it called to its assistance the microscopist to unravel, and the chemist to analyse, the tissues of plants. Zoology and Entomology, have perhaps even less claim to the name of sciences; and Geology owes that title rather to the largeness and grandeur of its objects, than to the precision of its information.

Chemistry, again, of which the claim to the dignity of a science is not to be disputed, owes its proud position to many distinct causes —to the joint possession of a numerical theory, of a precise and condensed nomenclature, of delicate instruments of analysis and discovery, joined to its perfect command of the materials on which it operates, and its intimate relations with other sciences on which it is in a condition to confer the greatest benefits.

In direct contrast to the science of chemistry, stands a branch of knowledge which has no practical applications, and owes its title to be termed a science solely to the dignity and surpassing interest of its object, and the singular talent and acuteness of its most distinguished cultivators—I mean the science of metaphysics. Setting this aside as exceptional, we may say of science in general that it should have practical applications of acknowledged utility and dignity, and general principles, comprehensive and precise, to which the mere practice of an art could not have given rise. But the hastiest survey of those branches of knowledge to which the term science has been, by general consent, applied, reveals a diversity of character in keeping with the obvious variety of practical pursuits to which men are impelled by necessity or choice. Astronomy has to do with objects of which the mass cannot be increased or lessened, nor the composition altered, nor the movements controlled by human interference. Its claim to be a science must, therefore, rest, in the main, on the exact fulfilment of its prophesies. The sciences which preside over all our great works of construction, are tested by the stability and durability of the works for which they supply the necessary numerical data. Chemistry vindicates its title by the visible and tangible results of its operations. But the sciences which have to do with living beings, whether in the vegetable or animal kingdom, must rest their claims rather upon the fidelity of their descriptions, and the soundness of their classifications, than on the fulfilment of their predictions or the power which they can exert. The knowledge which they have acquired by the observation of many individuals differing widely from each other, cannot be applied with certainty to the individuals themselves, but only to groups of individuals similar to those which first supplied the knowledge. And that which is true of the plant or the animal, is true of individual men as members of society. It is from groups of persons that we obtain our knowledge; it is to like groups that we apply it. We cannot, therefore, refuse to the Actuary who first collects and arranges facts relating to the duration of human life, and then calculates the expectation of life, the title of a man of science, for no better reason than that his calculations possess the high utility of which I have been speaking, not when applied to the individual man, but only when brought to bear (as in life assurance) on great numbers of persons. And so must it be with the Statist, in the sense in which I would use the term. He collects and arranges his facts, calculates their average value, marks, in some cases, their extreme values, and would make application of his knowledge to the groups or classes to which the facts relate, but that the right and power of action rests with the State and not with him. But the fact that the results which he obtains are applicable in practice not to individuals but to classes, and the accident, so to speak, which separates the discovery of truth from the power of applying it, cannot destroy the dignity of his pursuits nor rob statistics of its right to take rank among the sciences. And if, as in the case of chemistry, to which I have already adverted, the claim to be called a science rests on more attributes than one, this same claim may be set up on behalf of statistics: for we, too, have our classifications and our nomenclature; we, too, have our numerical method; we, too, have powerful instruments of analysis in our tabular forms; we, too, have the most universal and subtle of all the means of discovery, the power of eliminating disturbing elements, of establishing numerical equalities, and exhibiting residues as containing the cause or causes which made two or more numerical statements to differ from each other. We largely use the true Baconian method of induction, and Lord Bacon’s own favourite instrument the Tabula inveniendi. Lastly, of the utility and dignity of our pursuit there cannot be a doubt.

From these considerations, then, I infer that there is a science of statistics—a science worthy of respect, encouragement, and support—a science of which the members of this Society may be justly proud—a science to which States and nations need not be ashamed to acknowledge their obligations.

The question of the relation which this science of statistics bears to Social Science and Political Economy, is the only one which, according to the title of this paper, remains to be discussed. My answer to this question will be anticipated from what has gone before. The science of statistics is a comprehensive science, of which “social science” and political economy are only branches or departments. The original prospectus of this Society, already quoted, did really establish a Social Science when it stated as its object the procuring, arranging, and publishing of “facts calculated to illustrate the condition and prospects of society;” while Professor Sedgwick spoke of the Statistical Section of the British Association, to which, as I have shown, this our Society owes its origin, as dealing with “matters of fact,” “mere abstractions,” and “numerical “results,” which were to furnish “the raw material to political economy and political philosophy;” by which, as he thought probable, “the lasting foundation of those sciences might be ultimately laid.” So that this Society may be said to have from the first cultivated both social and political science in the only satisfactory way—by the accumulation of facts. The fact that a Society calling itself the “Social Science Association,” has within a few years come into existence, does not in any way invalidate our claim to have first set on foot, in fact, though not in express terms, a social science; nor, if we were to lay claim on our own behalf, to the exclusive cultivation of that science, should we do any injustice to the younger society. For it is obvious that the work done by the Social Science Association, excellent as it is, is not in the nature of Science. It may be described, without injustice, as a Social Reform Association, encouraging the discussion of alleged social evils, inviting publicity, and taking practical steps, by means of memorials, petitions, and deputations to men in authority, to promote legal and social reforms. To the members of that Association, and to all other men, we offer the services of a social and political science, slowly and painfully constructed on the basis of facts laboriously brought together, but upon the collection, arrangement, tabulation, and analysis of which we bring constantly to bear the pure bright light of scientific method. We do not allege that there is no other way to social reform and improvement but this toilsome path of ours; we know that many financial, social, and legal habits, arrangements, and procedures may be convicted of folly, inconvenience, and injustice, without the use of a single figure of arithmetic; but we also know that in almost all disputed questions, our aid is invoked, because we are believed to collect, arrange, and classify our facts in the true spirit of science, calmly and impartially, having as our primary object the discovery of truth by facts, and not the redress of grievances.

But it is time that I bring this communication to a close. In doing so, I trust that I may lay claim to some success in my attempt to give increased dignity and importance to this Society, and a new interest to the labours of its members. For myself, at least. I may say, that in offering to the Society a long series of communications on which I have bestowed much labour and thought, I acted in the belief that I was contributing to the gradual, slow growth, not of heaps of facts without reference to their use or application, but of a veritable science, social and political—a science with a definite aim, an orderly classification of subjects, a numerical method with its strict rules of synthesis and analysis—something more than the Statistik of Achenwall, nothing less than “the political economy and “philosophy” of Sedgwick ; a science which I believe it to have been the real aim of our founders to establish when they announced their intention to illustrate by facts the condition and prospects of society. I hope also to be forgiven if I so far ignore the rude conceptions of our original prospectus, as to indulge in the luxury of “opinions,” and to respect the now disused motto which bids me bind up my sheaves of wheat for others to thresh out, rather as a venerable relic of the past, than as a principle of action to be at this moment implicitly obeyed and acted upon.*

* I append a tabular sketch of the chief divisions of Statistics recognised in the original prospectus of the Society,—a prospectus drawn up by Henry Hallam, Charles Babbage, Richard Jones, and John Elliot Drinkwater, constituted a provisional committee for the purpose. The committee did not point out distinctly the subdivisions of medical statistics. They are assumed to be the two printed in a distinctive type.

Economical

(1.) Natural productions and agriculture of nations.
(2.) Manufactures.
(3.) Commerce and currency.
(4.) Distribution of wealth (rent, wages, profits, &c.).

Political

(1.) Facts relating to the elements of political institutions, the number of electors, jurors, &c.
(2.) Legal statistics.
(3.) Finance and national expenditure, civil and military establishments.

Medical

(1.) (P Preventive Measures).
(2.) (P Curative Measures, Hospitals, tec).
(3.) Population.

Moral and Intellectual

(1.) Statistics of literature.
(2.) Education.
(3.) Religious instruction and ecclesiastical institutions.
(4.) Crime.

 

Source: Journal of the Statistical Society of London, December 1865, pp. 478-493.

Image Source: Barraud & Jerrard, Photographers – The Medical profession in all countries containing photographic portraits from life v. 2, no. 13. London: J. & A. Churchill, 1874.

 

Categories
M.I.T. Suggested Reading Syllabus

M.I.T. First term core macro. National income and employment. Readings and Exams. Domar, 1965

 

For the previous posting I transcribed Robert Solow’s reading list and mid-term exam for M.I.T.’s second term of graduate core macroeconomics. That course reading list was lean, short & sweet. Today we turn to my Doktorvater, Evsey D. Domar, who taught the first term of that graduate sequence. Both my obligation to friends of  Economics in the Rear-view Mirror and my profound doctor-filial piety were needed to motivate me to transcribe Domar’s entire fourteen page course reading list. I am delighted to say I was able to find the midterm and final exams for the year and include them here.

___________________

THEORY OF NATIONAL INCOME AND EMPLOYMENT

E. D. Domar 14.451 Fall Term 1965-66
READING LIST

The purpose of this list is to suggest to the student the sources in which the more important topics of the course are discussed from several points of view. His objectives should be the understanding of these topics and not the memorization of opinions and details.

There now exists a good textbook on macroeconomics—Gardner Ackley, Macroeconomic Theory (The Macmillan Company, New York, 1961). Its knowledge is necessary but not sufficient for passing the course. While several copies are on reserve at Dewey, the acquisition of private copies is recommended.

It is also convenient to acquire the two National Income volumes published by the U.S. Department of Commerce and listed in Section I.

 

I. NATIONAL INCOME AND RELATED ITEMS
(September 21 – October 14)

REQUIRED

Ackley, Chapters 1-4.
Kuznets, S., National Income and Its Composition, Vol. I (New York, 1941). [handwritten note: Chap. 1]
National Income 1954 Edition, A Supplement to the Survey of Current Business, U.S. Department of Commerce (Washington, D.C., 1954), pp. 27-60, 153-58.
U.S. Income and Output, A Supplement to the Survey of Current Business, U.S. Department of Commerce (Washington, D. C., 1958), pp. 50-105. Browse through the statistical tables of both volumes to know what is available where.
Leontief, W. W., “Output, Employment, Consumption and Investment,” Quarterly Journal of Economics, Vol. 58 (February, 1944), pp. 290-314.
Leontief, Studies in the Structure of the American Economy (New York, 1953), pp. 27-35.
Dorfman, R., “The Nature and Significance of Input-Output,” Review of Economics and Statistics, Vol. 36 (May, 1954), pp. 121-33.
Kendrick, J. W., Productivity Trends in the United States (Princeton, 1961), pp. xxxv-lii, 20-77.
Domar, E. D., “On Total Productivity and All That,” The Journal of Political Economy, Vol. 70 (December, 1962), pp. 597-608. [This is a review of Kendrick’s book; several reprints are available in Dewey.]
Domar, E. D., “On the Measurement of Technological Change,” The Economic Journal, Vol. 71 (December, 1961), pp. 709-29. [Read only pp. 709-14, 726-29.]
Board of Governors of the Federal Reserve System, Industrial Production 1959 Revision (Washington, 1960), pp. iii-41. [Look for the method, not for statistical details.]
Sigel, S. J., “A Comparison of the Structures of Three Social Accounting Systems,” National Bureau of Economic Research, Input-Output Analysis: An Appraisal, The Conference on Research in Income and Wealth, Studies in Income and Wealth, Vol. 18 (Princeton, 1955), pp. 253-89.

ADDITIONAL READINGS:

Jaszi, G., “The Statistical Foundations of the GNP,” Review of Economics and Statistics, Vol. 38 (May, 1956), pp. 205-14.
Domar, E. D., “An Index-Number Tournament,” mult., 1963. [Several copies are available in Dewey; your comments will be appreciated.]
Griliches, Zvi, “Notes on the Measurement of Price and Quality Changes,” and comments by Jaszi, Denison and Grove, in Conference on Research in Income and Wealth, Models of Income Determination (Princeton, 1964), Vol. 28, pp. 381-418.
Lewis, Wilfred, Jr., “The Federal Sector in National Income Models,” and comments by Hickman and Pechman, in Conference on Research in Income and Wealth, Models of Income Determination (Princeton, 1964), Vol. 28, pp. 233-78.
Bailey, M. J., National Income and the Price Level (New York, 1962), pp. 269-300.
Kuznets, S., National Income and Its Composition (New York, 1941).
Ruggles, R. and N., National Income Accounts and Income Analysis (New York, 1956).
Ruggles, “The U.S. National Accounts,” American Economic Review, Vol. 49, (March, 1959), pp. 85-95.
National Bureau of Economic Research, The National Economic Accounts of the United States, Review, Appraisal and Recommendations, General Series 64, (Washington, 1958).
Organization for European Economic Cooperation, A Standardised System of National Accounts, (Paris, 1952).
Gilbert, M. and I. B. Kravis, An International Comparison of National Products and the Purchasing Power of Currencies, A Study of the United States, the United Kingdom, France, Germany and Italy, Organization for European Economic Cooperation (Paris, 1954).
Gilbert, M., Comparative National Products and Price Levels, A Study of Western Europe and the United States, Organization of European Economic Cooperation, (Paris, 1958).
United Nations, Yearbook of National Accounts Statistics, the latest issue.
United Nations, National Income Statistics, the latest issue.
United Nations, World Economic Survey and other Economic Surveys.
Studenski, The Income of Nations. Theory, Measurement, and Analysis: Past and Present (New York, 1958). [A wealth of information, particularly of historical character.]
Nove, A., “The United States National Income A La Russe,” Economica, Vol. 23, 1956.
Bergson, A. The Real National Income of Soviet Russia Since 1928 (Cambridge, Massachusetts, 1961).
Kravis, I. B., “Relative Income Shares in Fact and Theory,” American Economic Review, Vol. 49 (December, 1959), pp. 917-49.
Samuelson, P. A., “Evaluation of Real National Income,” Oxford Economic Papers (New Series), 1950, pp. 1-29.
Samuelson, “The Evaluation of ‘Social Income’: Capital Formation and Wealth,” in F. A. Lutz and D. C. Hague, editors, The Theory of Capital (London, 1961).
Leontief, W. W., The Structure of American Economy (New York, 1941).
Leontief, Studies in the Structure of the American Economy (New York, 1953).
Taskier, C. E., Input-Output Bibliography 1955-1960, United Nations (New York, 1961).
Evans, W. D., and M. Hoffenberg, “The Interindustry Relations Study for 1947,” Review of Economics and Statistics, Vol. 34, (May, 1952), pp. 97-142.
Stewart, I. G., “The Practical Uses of Input-Output Analysis,” Scottish Journal of Political Economy, Vol. 5, (February, 1958).
Dosser, D. and A. T. Peacock, “Input-Output Analysis in an Under-Developed Country: A Case Study,” Review of Economic Studies, Vol. 25 (October, 1957).
Input-Output Analysis: An Appraisal, Studies in Income and Wealth by the Conference on research in Income and Wealth, Vol. 18 (Princeton, 1955).
Solow, R. M. “Technical Change and the Aggregate Production Function,” Review of Economics and Statistics, Vol. 39 (August, 1957), pp. 312-20.
Abramovitz, M., “Resources and Output in the United States Since 1870,” American Economic Review, Papers and Proceedings, Vol. 46 (May, 1956), pp. 5-23, reprinted as National Bureau of Economic Research, Occasional Paper 52 (New York, 1956).
Kendrick, J. W., Productivity Trends in the United States (Princeton, 1961).
Denison, E. F., Sources of Economic Growth in the United States and the Alternatives Before Us (New York, 1962).
Abramovitz, M., “Economic Growth in the United States,” American Economic Review, Vol. 52 (September, 1962), pp. 762-82. [This is a review of Denison’s Book.]
Moorsteen, R. H., “On Measuring Productive Potential and Relative Efficiency,” Quarterly Journal of Economics, Vol. 75 (August, 1961), pp. 451-67.
Fabricant, S., The Output of Manufacturing Industries, 1899-1937 (New York, 1940), particularly Chapter 1.
United Nations, Statistical Office, Index Numbers of Industrial Production, St/Stat/ Ser/ F1 (New York, 1950).
Board of Governors of the Federal Reserve System, Flow of Funds in the United States 1939-53 (Washington, D. C., 1955).
Powelson, J. P., National Income and Flow-Of-Funds Analysis (New York, 1960).
Measuring the Nation’s Wealth, National Bureau of Economic Research, Studies in Income and Wealth, Vol. 29 (Washington, D. C., 1964).

 

II. GENERAL AGGREGATIVE SYSTEMS
(October 19 – October 28).

REQUIRED:

Ackley, Parts II and III.
Keynes, J. M., The General Theory of Employment, Interest and Money (London and New York, 1936). [Omit the appendixes to Chapters 6 and 19.]
Note: Neither book is arranged in the order of this reading list. Hence these two assignments apply to other sections of it as well.
Wells, P., “Keynes’ Aggregate Supply Function: A Suggested Interpretation,” The Economic Journal, Vol. 70 (September, 1960), pp. 536-42.
Johnson, H. G. and the discussants, “The General Theory After Twenty-five Years,” American Economic Review Papers and Proceedings, Vol. 60 (May, 1961), pp. 1-25.
Klein, L. R., “The Empirical Foundations of Keynesian Economics,” in K. K. Kurihara, ed., Post Keynesian Economics (New Brunswick, N. J., 1954), pp. 277-319.

ADDITIONAL READINGS:

Lekachman, Robert, Keynes’ General Theory: Reports of Three Decades, (New York and London, 1964).
Patinkin, D., Money, Interest, and Prices, Second Edition, (New York, 1965).
American Economic Association, Readings in Business Cycle Theory (Philadelphia, 1944), Essays 5, 7, 8.
American Economic Association, Readings in the Theory of Income Distribution (Philadelphia, 1946), Essay 24.
Metzler, “Three Lags in the Circular Flow of Income,” in Income, Employment and Public Policy, Essays in Honor of Alvin H. Hansen (New York, 1948), pp. 11-32.
Harris, S. E., The New Economics (New York, 1947), Essays 8-19, 31-33, 38-46.
Lerner, A. P., Economics of Control (New York, 1944), Chapters 21-23, 25.K
Kurihara, K. K., Post Keynesian Economics (New Brunswick, N. J., 1954).
Klein, L. R., The Keynesian Revolution, (New York, 1947), Chapters 3-5.
Ellis, H. S., A Survey of Contemporary Economics, Vol. 1, (Philadelphia, 1948), Chapter 2.
Burns, A. F., “Economic Research and the Keynesian Thinking of Our Times,” in his The Frontiers of Economic Knowledge, (Princeton, 1954), or in the Twenty-Sixth Annual Report of the National Bureau of Economic Research, Inc. (New York, 1946). See also the discussion by Hansen and Burns in the Review of Economic Statistics (November, 1947).
Dillard, D., “The Influence of Keynesian Economics on Contemporary Thought,” American Economic Review, Papers and Proceedings, 1957.
Hutt, W. H., Keynesianism: Retrospect and Prospect (Chicago, 1963).
Friedman, Milton, and G. S. Becker, “A Statistical Illusion on Judging Keynesian Models,” Journal of Political Economy, Vol. 55 (February, 1957), pp. 64-75.

 

III. PRICE FLEXIBILITY AND EMPLOYMENT
(November 2-11)

REQUIRED:

Patinkin, D., Money, Interest, and Prices, Second ed., (New York, 1965), Chapters 9-11.
Pigou, A. C., “The Classical Stationary State,” Economic Journal (December, 1943).
Power, J. H., “Price Expectations, Money Illusion and the Real Balance Effect,” Journal of Political Economy, Vol. 67 (April, 1959).
Mayer, T., “The Empirical Significance of the Real Balance Effect,” Quarterly Journal of Economics, Vol. 73 (May, 1959).

ADDITIONAL READINGS:

Readings in Monetary Theory, Essay 13.
Schelling, T. C., “The Dynamics of Price Flexibility,” American Economic Review (September, 1949).
Lange, O., Price Flexibility and Employment (Bloomington, Indiana, 1944). [Get the main idea and omit the details.]
Friedman, M., “Lange on Price Flexibility and Employment,” American Economic Review (September, 1946).
Patinkin, D., Money, Interest, and Prices (Evanston, Illinois, 1956).
Hicks, J. R., “A Rehabilitation of ‘Classical Economics’,” Economic Journal, Vol. 47, (June, 1957).

 

IV. THEORY OF INTEREST
(November 16-25)

REQUIRED:

Hicks, J. R., Value and Capital (Oxford, 1957), Chapters 11 & 12.
Lydall, H., “Income, Assets, and the Demand for Money,” Review of Economics and Statistics, Vol. 40 (February, 1958), pp. 1-14.
Gurley, J. G., and E. S. Shaw, “Financial Aspects of Economic Development,” American Economic Review, Vol. 65 (September, 1955), pp. 515-38.

ADDITIONAL READINGS:

Patinkin, the rest of his excellent book.
Gurley, J. G., and E. S. Shaw, Money in a Theory of Finance (Washington, 1960).
Tobin, J., “Liquidity Preference as Behavior Towards Risk,” The Review of Economic Studies, Vol. 25 (February, 1958), pp. 65-86.
Hart, A. G., and P. B. Kenen, Money, Debt and Economic Activity, Third Ed., (Englewood Cliffs, N. J., 1961).
American Economic Association, Readings in the Theory of Income Distribution (Philadelphia, 1946), Essays 22, 23, 26.
American Economic Association, Readings in Monetary Theory, (New York, 1951), Essays 6, 11, 15.
Patinkin, D., “Liquidity Preference and Loanable Funds: Stock and Flow Analysis,” Economica, Vol. 25 (November, 1958).
Lutz, F. A., “The Interest Rate and Investment in a Dynamic Economy,” American Economic Review, (December, 1945).
Wright, A. L., “The Rate of Interest in a Dynamic Model,” Quarterly Journal of Economics, Vol. 72 (August, 1958), pp. 327-50.
Matthews, R. C. O., “Liquidity Preference and the Multiplier,” Economica, Vol. 28 (February, 1961), pp. 37-52.
Supplement to the Review of Economics and Statistics, Vol. 45 (February, 1963) on “The State of Monetary Economics.”
Friedman, M. and A. J. Schwartz, A Monetary History of the United States 1867-1960 (Princeton, N. J., 1963).
Friedman, M., ed., Studies in the Quantity Theory of Money (Chicago, 1956).

See also INVESTMENT DECISIONS.

 

V. CONSUMPTION AND SAVING
(November 30- December 9)

REQUIRED:

Crockett, Jean, “Income and Asset Effects on Consumption: Aggregate and Cross Section,” and comments by D. B. Suits, in Conference on Research in Income and Wealth, Models of Income Determination (Princeton, 1964), Vol. 23, pp. 97-136.
Duesenberry, J. S., Income, Saving, and the Theory of Consumer Behavior (Cambridge, Massachusetts, 1949). Omit the details and get the main points.
Friedman, M., A Theory of the Consumption Function (Princeton, 1957), Chapter 9.
Friend, I., and I. B. Kravis, “Entrepreneurial Income, Saving and Investment,” American Economic Review, Vol. 47 (June, 1957), pp. 269-301.
Tobin, J., “On the Predictive Value of Consumer Intentions and Attitudes,” The Review of Economics and Statistics, Vol. 41 (February, 1959), pp. 1-11.
Farrell, M. J., “The New Theories of the Consumption Function,” The Economic Journal, Vol. 69 (December, 1959), pp. 678-96.
Dobrovolsky, S. P., Corporate Income Retention 1915-43 (New York, 1951). [Omit the details.]
Lintner, J. and discussants, “Distribution of Income of Corporations Among Dividends, Retained Earnings, and Taxes,” American Economic Review Papers and Proceedings, Vol. 46 (May, 1956), pp. 97-118.
Gordon, M. J., “The Optimum Dividend Rate,” presented at the 6th Annual International Meeting of the Institute of Management Sciences (Paris, September, 1959). [On library reserve.]
Domar, E. D., Essays in the Theory of Economic Growth (New York, 1957), pp. 154-67, 195-201.

ADDITIONAL READINGS:

Ferber, R., “The Accuracy of Aggregate Savings Functions in the Post-War Years,” Review of Economics and Statistics, Vol. 37 (May, 1955), pp. 134-48.
Friedman, the rest of his book.
Brown, E. C., Solow, R. M., Ando, A., and J. Karekan, “Lags in Fiscal and Monetary Policy,” in Commission on Money and Credit, Stabilization Policies (Englewood Cliffs, N. J., 1963), pp. 1-165.
Modigliani, F., and R. Brumberg, “Utility Analysis and the Consumption Function: An Interpretation of Cross-Section Data,” in Kurihara, K. K., ed., Post Keynesian Economics (New Brunswick, N. J., 1954), pp. 388-436.
See also its discussion by Brown, B., and F. M. Fisher, “Negro-White Savings Differentials and the Modigliani-Brumberg Hypothesis,” Review of Economics and Statistics, Vol. 40 (February, 1958), pp. 79-81.
Friend, I., and S. Schor, “Who Saves?,” The Review of Economics and Statistics, Vol. 41 (May, 1959), pp. 213-45.
Zellner, Arnold, “The Short-Run Consumption Function,” Econometrica, (October, 1957).
Dennison, E. F., “A Note on Private Saving,” Review of Economics and Statistics, (August, 1958).
Friedman, M., and G. Becker, “A Statistical Illusion in Judging Keynesian Models,” Journal of Political Economy, Vol. 65 (February, 1957).
Klein, L. R., “The Friedman-Becker Illusion,” Journal of Political Economy, Vol. 66 (December, 1958).
Morgan, J. N., Consumer Economics (New York, 1955).
Katona, G., and E. Mueller, Consumer Expectations 1953-56 (Ann Arbor, Michigan, 1956).
Bailey, M. J., “Saving and the Rate of Interest,” Journal of Political Economy, Vol. 45 (August, 1957), pp. 279-305. Reprinted in Landmarks in Political Economy, edited by E. J. Hamilton, A. Rees, and Johnson, H. G., (Chicago, 1962), pp. 583-622.
Klein, L. R., ed., Contributions of Survey Methods to Economics (New York, 1954).
Goldsmith, R. W., A Study of Saving in the United States, Three volumes (Princeton, 1952).
Heller, W. W., Boddy, F. M., and C. L. Nelson, Savings in the Modern Economy, a Symposium (Minneapolis, 1953).
Mincer, J., “Employment and Consumption,” The Review of Economics and Statistics, Vol. 42 (February, 1960), pp. 20-26.

 

VI. INVESTMENT DECISIONS
(December 14 – January 6)

REQUIRED:

Ackley, Chapter 17.
Solomon, E., ed., The Management of Corporate Capital (Glencoe, Ill., 1959), pp. 48-55, 67-73.
White, W. H., “Interest Inelasticity of Investment Demand—The Case from Business Attitude Surveys Re-examined,” American Economic Review, Vol. 46 (September, 1956), pp. 565-587.
Meyer, J. R., and E. Kuh, The Investment Decision (Cambridge, Massachusetts, 1957), Chapter 12.
Penrose, E., “Limits to the Growth and Size of Firms,” American Economic Review Papers and Proceedings, Vol. 45 (May, 1955), pp. 531-43.
Foss, M. F., and Natrella, V., “Ten Years’ Experience with Business Investment Anticipations,” Survey of Current Business (January, 1957).
Schultz, T. W., “Capital Formation by Education,” The Journal of Political Economy, Vol. 68 (December, 1960), pp. 571-83.

ADDITIONAL READINGS:

Lerner, A. P., “On the Marginal Product of Capital and the Marginal Efficiency of Investment,” Journal of Political Economy, Vol. 51 (February, 1953), pp. 1-14. Reprinted in Landmarks in Political Economy edited by E. J. Hamilton, Rees, A., and H. G. Johnson (Chicago, 1962), pp. 538-58.
Pitchford, J. D. and A. J. Hagger, “A Note on the Marginal Efficiency of Capital,” The Economic Journal, Vol. 48 (September, 1958), pp. 597-600.
Duesenberry, J., Business Cycles and Economic Growth (New York, 1958), Chapters 4-7.
Meyer and Kuh, the rest of the book.
Hirschleifer, J., “On the Theory of Optimal Investment Decision,” The Journal of Political Economy, Vol. 66 (August, 1958), pp. 329-352. [An excellent but difficult paper.]
James, E., A Reconsideration of the Theoretical Criteria for Optimum Investment Planning (M.I.T. doct. diss., 1961). [A good survey of the literature.]
Lovell, M. C., “Determinants of Inventory Investment,” in Conference on Research in Income and Wealth, Models of Income Determination (Princeton, 1964), Vol. 28, pp. 177-232.
Penrose, E. T., The Theory of the Growth of the Firm (Oxford, 1959).
The Quality and Economic Significance of Anticipations Data, A Conference of the Universities—National Bureau Committee for Economic Research (Princeton, 1960).
Foss, M. F., “Investment Plans and Realizations—Reasons for Differences in Individual Cases,” Survey of Current Business (June, 1957).
Foss, M. F., “Manufacturers’ Inventory and Sales Expectations—A Progress Report on a New Survey,” Survey of Current Business (August, 1961).
Robinson, J., The Accumulation of Capital (London, 1956). [Wish we had time for it.]
Lutz, F. A., and V., the Theory of Investment of the Firm (Princeton, 1951).
Heller, W. W., “The Anatomy of Investment Decisions,” Harvard Business Review, (March, 1951), pp. 95-103.
Meade, J. E., and P. W. S. Andrews, “Summary of Replies to Questions on Effects of Interest Rates,” and “Further Inquiry into the Effects of Rates of Interest,” Oxford Economic Papers, No. 1, 1938 and No. 3, 1940.
Ebersole, J. F., “The Influence of Interest Rates,” Harvard Business Review, Vol. 17, 1938, pp. 35-39.
Henderson, H. D., “The Significance of the Rate of Interest,” Oxford Economic Papers (October, 1938), pp. 1-13.
Andrews, P. W. S., “Further Inquiry into the Effects of Rates of Interest,” Oxford Economic Papers, (February, 1940), pp. 32-73.
Sayers, R. S., “Business Men and the Terms of Borrowing,” Oxford Economic Papers (February, 1940), pp. 23-31.
Brockie, M. D., and A. L. Grey, “The Marginal Efficiency of Capital and Investment Programming,” Economic Journal, Vol. 46 (December, 1956).
White, W. H., “The Rate of Interest, the Marginal Efficiency of Capital, and Investment Programming,” Economic Journal, Vol. 48 (March, 1958).
Grey, A. L., and M. D. Brockie, “The Rate of Interest, Marginal Efficiency of Captial and Net Investment Programming: A Rejoinder,” Economic Journal (June, 1959).
Spiro, A., “Empirical Research and the Rate of Interest,” Review of Economics and Statistics, Vol. 40 (February, 1958).
Cunningham, N. J., “Business Investment and the Marginal Cost of Funds,” Metroeconomica, Vol. 10 (August, 1958).
Cunningham, N. J., “Business Investment and the Marginal Cost of Funds,” Part II, Metroeconomica (December, 1958).
Wilson, T., “Cyclical and Autonomous Inducements to Invest,” Oxford Economic Papers, Vol. 5, 1953.
Lydall, H. F., “The Impact of the Credit Squeeze on Small and Medium Sized Manufacturing Firms,” Economic Journal, Vol. 47 (September, 1957).
Friend, I., and J. Bronfenbrenner, “Business Investment Programs and Their Realization,” Survey of Current Business (December, 1950).
Schultz, T. W., “Investment in Human Capital,” American Economic Review, Vol. 60 (March, 1961) pp. 1-17.
Houthakker, H. S., “Education and Income,” The Review of Economics and Statistics, Vol. 41 (February, 1959), pp. 24-28.
Eckhaus, R. S., “On the Comparison of Human Capital,” Center for International Studies, M.I.T., mult.
Becker, G. S., Human Capital: a Theoretical and Empirical Analysis, with Special Reference to Education (New York, 1964).

See also THEORY OF INTEREST and MULTIPLIER AND ACCELERATOR

 

VII. MULTIPLIER AND ACCELERATOR
(January 11 – 18)

REQUIRED:

Kahn, R. F., “The Relation of Home Investment to Unemployment,” Economic Journal, 1931. Republished in Hansen and Clemence, Readings in Business Cycles and National Income (New York, 1953), Essay 15.
Readings in Business Cycle Theory, Essays 9-12.
Haavelmo, T., “Multiplier Effects of a Balanced Budget,” Econometrica, 1945, reprinted in Readings in Fiscal Policy, pp. 335-343.
Salant, William A., “Taxes, Income Determination, and the Balanced Budget Theorem,” The Review of Economics and Statistics (May, 1957).
Tsiang, S. C., “Accelerator, Theory of the Firm, and the Business Cycle,” Quarterly Journal of Economics, Vol. 65, 1951.

ADDITIONAL READINGS:

Tinbergen, “Statistical Evidence on the Acceleration Principle,” Economica, Vol. 5, 1938.
Eisner, R., “Capital Expenditures, Profits, and the Acceleration Principle,” and comments by G. H. Hickman, in Conference on Research in Income and Wealth, Models of Income Determination, (Princeton, 1964), Vol. 28, pp. 137-176.
Peston, M. H., “Generalizing the Balanced Budget Multiplier,” and “Comment” by W. A. Salant, The Review of Economics and Statistics (August, 1958).
Bowen, W. G., “The Balanced-Budget Multiplier: A Suggestion for a More General Formulation,” The Review of Economics and Statistics, (May, 1957).
Goodwin, R. M., “The Multiplier” in Seymour E. Harris, ed., The New Economics (New York, 1947), pp. 482-99.
Chenery, H. B., “Overcapacity and the Acceleration Principle,” Econometrica, Vol. 20 (January, 1952), pp. 1-28.
Caff, J. T., “A Generalization of the Multiplier-Accelerator Model,” The Economic Journal, Vol. 69 (March, 1961), pp. 36-52.
Kuznets, S., “Relation Between Capital Goods and Finished Products in the Business Cycle,” in Economic Essays in Honor of Wesley Clair Mitchell, (New York, 1935).
Knox, A. D. “The Acceleration Principle and the Theory of Investment: A Survey,” Economica, Vol. 19, 1952.
Harrod, R. F., Towards a Dynamic Economics (London, 1948).
Hicks, J. R., A Contribution to the Theory of the Trade Cycle (Oxford, 1950).
Goodwin, R. M., “Problems of Trend and Cycle,” Yorkshire Bulletin, Vol. 5 (August, 1953).
Ott, A. E., “The Relation Between the Accelerator and the Capital Output Ratio,” Review of Economic Studies, Vol. 25, (June, 1958).
Minsky, H., “Monetary Systems and Accelerator Models,” American Economic Review, Vol. 47, 1957.
Friedman, M. and D. Meiselman, “The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897-1958,” Stabilization Policies, Commission on Money and Credit, (New Jersey, 1963), pp. 165-268.
Hester, D. D., “Keynes and the Quantity Theory: a Comment on the Friedman-Meiselman CMC Paper,” the reply by Friedman and Meiselman, and the rejoinder by Hester, The Review of Economics and Statistics, Vol. XLVI (November, 1964), pp. 364-377.

See also INVESTMENT DECISIONS.
This subject will also be discussed in Economics 14.452.

 

VIII. MISCELLANEOUS (If time permits)

Ackley, Chapters 16, 20.
Mincer, Jacob, “Investment in Human Capital and Personal Income Distribution,” The Journal of Political Economy, Vol. 66 (August, 1958), pp. 281-302.
Goldsmith, Selma F., “Size Distribution of Personal Income, 1956-59,” Survey of Current Business (April, 1960).
Liebenberg, M., and J. M. Fitzwilliams, “Size Distribution of Personal Income, 1957-60,” Survey of Current Business (May, 1961).

A few other sources may be added from time to time.

 

Source: Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Evsey D. Domar, Box 15, Folder “Macroeconomics, Old Reading Lists”.

___________________

 MIDTERM EXAMINATION
(One hour and twenty minutes)

THEORY OF INCOME AND EMPLOYMENT
E. D. Domar ….. 14.451 ….. December 9, 1965

 

Please answer all questions. Use a separate book for each question.

  1. [25%] The economy consists of carrots, rabbits and dogs. Rabbits cultivate and eat carrots, while dogs breed and eat rabbits.
    You are asked to compute the national income and product for this economy from the point of view of:

(a) The rabbits
(b) The dogs

Explain your methods carefully and indicate the basic philosophy underlying them. [handwritten note:  Too easy]

  1. [25%] “Existing methods of national product computations exaggerate the rate of growth of real product over time in a given country, and overstate the ratio between the real product of highly developed and of underdeveloped countries.”
    Comment fully and critically. [handwritten note: explain better in class]
  2. [30%] Write a comprehensive essay on the subject of “Keynes and Patinkin on the Relation between the Quantity of Money on the one hand, and Interest Rate, Price Level and National Income on the other.”
  3. [20%] Discuss the treatment of intermediate products in several indexes of industrial productions. Give examples.

 

Source: Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Evsey D. Domar, Box 15, Folder “Examinations (1 of 3)”.

___________________

FINAL EXAMINATION
Three Hours
 

E. D. Domar ….. 14.451 ….. January 26, 1966

Please answer any FIVE questions out of six. Whenever you feel that the questions do not provide sufficient information for you to answer, add the necessary assumptions and state them clearly. Read each question through before answering any part of it.

  1. (a) “The best cure against inflation is a balanced budget.”
    (b) “The more each individual or corporation tries to save, the smaller will be the total savings for the economy as a whole.”

Comment on each statement separately.

  1. “The best cure against inflation is increased production.”

Comment fully. Assume that there are unemployed resources to allow for increased production. (Hint: production of what?)
In the light of your answer, do you think a prolonged strike in some industry is inflationary or deflationary? Explain your position.

  1. (a) Explain the several definitions of MONEY used in Price Flexibility and Employment discussions. In each case indicate the specific reasons for that particular definition.
    (b) For each definition of money given by you in (a), examine the effects on the stock of money of central bank purchases of (i) government securities, (ii) private securities, (iii) gold from the public.

Comment on your results.

  1. (a) Explain the meaning of PRODUCTIVITY from a private and from a social point of view.
    (b) In the light of your explanation given in (a), comment on the productivity of the following persons and on the treatment of their incomes in the national income and product accounts:

(i) A public relations employee of a private corporation

(ii) A public relations employee of the U.S. Department of Defense

(iii) A recipient of interest from the General Electric Company. (You happen to know that he has inherited his bonds from his great uncle who was a great swindler.)

(iv) A recipient of interest on U.S bonds issued in order to finance aid to schools.

(v) A lawyer defending a bookmaker in court

(vi) A nasty professor whose course was a complete waste of time.

Look over your answers and try to generalize (unless you have already said all you want to say in part (a)).

  1. Applying (a) such consumption theories as you know, and (b) your own common sense and empirical knowledge, discuss the effects on consumer spending of the following measures. Assume that the amounts of tax reduction in the first three cases and the amount of dividend in the fourth are all equal in a given year.

(i) A reduction in the Federal income tax (Specify the kind of reduction.)

(ii) A reduction in the Federal capital gains tax

(iii) A reduction in the Federal estate (inheritance) tax

(iv) A declaration of a national dividend (specify the kind) for a given year

(v) A redistribution of income from the rich to the poor

(vi) A redistribution of income from landlords to businessmen (in some underdeveloped country).

Any generalizations?

  1. (a) “Technological progress raises the level of income and employment by making existing assets obsolete and thus shortening their economic life.”

Comment on this statement. Assume that the economy has unemployed resources.

(b) Alvin Hansen used to argue that one reason for the stagnation of the American economy in the nineteen-thirties and for the high level of UNEMPLOYMENT then existing consisted in the slow growth of population at the time.

Do you agree? Comment fully. Should an underemployed economy encourage immigration or emigration, or neither?

 

Source: Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Evsey D. Domar, Box 16, Folder “Macroeconomics, Final Exams”.

 

Image Source: Evsey D. Domar at the MIT Museum.

Categories
Exam Questions M.I.T. Suggested Reading Syllabus

M.I.T. Economic Growth and Fluctuations. Readings and Midterm Exam. Solow, 1966

 

The readings for the second term MIT graduate core course in macroeconomics “Economic Growth and Fluctuations” was taught by Robert Solow in 1966. The reading list and midterm questions transcribed for this posting come from his papers at the Duke Economists’ Papers Archive. Solow was indeed listed for this course in the internal report “Department of Economics, Teaching Responsibilities” dated March 4, 1966 in Box 3 of the Department of Economics Papers in the M.I.T. archives.

The first term course that academic year was taught by Evsey D. Domar. His 14-page reading list (!) together with the midterm and final examinations have been transcribed and posted as well.

________________________

Spring 1966

READING LIST          14.452

I. Economic Growth

  1. Stylized Facts

Kendrick and Sato, “Factor Prices, Productivity and Growth”, AER, December 1963.
Bureau of the Census, Long-Term Economic Trends (This is a compendium of data. Spend an hour or two leafing through it.)

  1. Aggregative Models

Hahn and Matthews, “The Theory of Economic Growth: A Survey”, Economic Journal, December 1964, Parts I, II, IV.
Modigliani, “Comment” in Behavior of Income Shares (NBER), pp. 39-50.
Tobin, “Money and Economic Growth”, Econometrica, October 1965.
Marty, “The Neoclassical Theorem”, AER, December 1964.
Diamond, “National Debt in a Neoclassical Growth Model”, AER, December 1965, pp. 1126-1135 only. Rest optional.
Findlay, “The Robinsonian Model…”, Economica, February 1963 and comments by Robinson and Findlay in Economica, November 1963.

  1. Sources of Potential Output

Nelson, “Aggregate Production Functions” AER, September 1964
Denison, Sources of Economic Growth in the U.S. (Don’t read every word, but try to grasp content.)
Abramovitz, “Review of Denison”, AER, September 1962.
Phelps, “The New View of Investment”, QJE, November 1962.
David and van de Kliendert, “Biased Efficiency Growth in the U.S.”, AER, June 1965.

II. Short-Run Macrodynamics

  1. Short-Run Movements in Productivity

Brechling: “The Relationship between Output and Employment…”, Review of Economic Studies, July 1965
Kuh, “Cyclical and Secular Labor Productivity…”, Review of Economics and Statistics, February 1965
Wilson and Eckstein, “Short-Run Productivity Behavior…”, Review of Economics and Statistics, February 1964.

  1. Measuring Potential Output and the Gap

Thurow & Taylor, “The Interaction between Actual and Potential Rates of Growth in the U.S. Economy”, Mimeo.
Kuh, “The Measurement of Potential Output”, mimeo.

  1. Cycles and Fluctuations

Samuelson, “Interaction between Multiplier Analysis and the Principle of Acceleration”, Review of Economics and Statistics, 1939, reprinted in AEA, Readings in Business Cycle Theory.
Metzler, “The Nature and Stability of Inventory Cycles”, Review of Economics and Statistics, 1941.
Kaldor, “A Model of the Trade Cycle”, EJ 1940, reprinted in Hansen and Clemence, Readings in Business Cycles and National Income.
DeLeeuw, “The Demand for Capital Goods by Manufacturers”, Econometrica, July 1962.
Eckstein, “Manufacturing Investment and Business Expectations”, Econometrica, April 1965.
Jorgenson, “Anticipations and Investment Behavior”, Ch. 2 in The Brookings Quarterly Econometric Model of the U.S., (optional).
Darling and Lovell, “Factors Influencing Investment in Inventories”, Ch. 4 in The Brookings Quarterly Econometric Model of the U.S.
Okun, Effects of the Tax Cut of 1964. To appear or else mimeo. [handwritten addition]

  1. Integration of Growth & Effective Demand [handwritten addition, no items listed]

________________________

First Examination     14.452           April 13, 1966

  1. Imagine a one-sector economy, satisfying all the standard simplifying assumptions, in a steady state with constant saving ratio, constant rate of population growth, and no technological change. Now let there be a sudden once-and-for-all shift in technology, with the property that output per man increases by 10% at each and every capital-per-man. There is no change in saving ratio or population growth.
    1. What happens along the full-employment path?
    2. In the new steady state, has capital per man increased by more or less than 10%? Has output per man increase by more or less than 10%?
    3. Describe roughly how the competitively imputed real wage, rate of interest, and relative distribution of income might differ between the new steady-state and the old. (You will not always be able to settle the direction of change.)
  2. In the same sort of economy, suppose that investment demand is such that businesses will quickly snap up all investment opportunities yielding at least some “target rate of return”, like 20%, but none yielding less. Discuss in terms of diagram or otherwise, whether the economy is likely to experience inadequate or excessive aggregate demand near the steady state. What effect would a sudden increase in the rate of population growth have (assuming that the saving ratio was not affected)?
  3. Denison has been described as a pessimist with respect to the possibility of raising the U.S. rate of growth through deliberate policy. Is that a fair description? If so, what are the main sources of his pessimism? What do you gather from Nelson, Abramovitz and Phelps on this subject?

 

Source: Duke University, David M. Rubenstein Library. Economists’ Papers Archives. Papers of Robert M. Solow, Box 67, Folder “Exams”.

Image Source: Robert M. Solow (undated). MIT Museum .

Categories
Barnard Columbia Courses Curriculum

Columbia. Economics Courses with Descriptions, 1905-07

 

 

From time to time I mistakenly repeat the preparation of an artifact, as is the case with this list of instructors and courses offered in economics and social sciences by the Columbia University Faculty of Political Science in 1905-07. Still, I am getting better with respect to formatting, so I am replacing the V1.0 with this V2.0 today.

________________________________

OFFICERS OF INSTRUCTION
FACULTY OF POLITICAL SCIENCE
[Economics and Social Sciences (1905-07)]

EDWIN R. A. SELIGMAN, Ph.D., LL.D., McVickar Professor of Political Economy
[Absent on leave in 1905-06.]
FRANKLIN H. GIDDINGS, Ph.D., LL.D., Professor of Sociology
JOHN B. CLARK, Ph.D., LL.D., Professor of Political Economy
HENRY R. SEAGER, Ph.D., Professor of Political Economy, and Secretary
HENRY L. MOORE, Ph.D., Adjunct Professor of Political Economy
VLADIMIR G. SIMKHOVITCH, Ph.D., Adjunct Professor of Economic History
EDWARD THOMAS DEVINE, Ph.D., LL.D., Professor of Social Economy

OTHER OFFICERS

ALVIN S. JOHNSON, Ph.D., Instructor in Economics
GEORGE J. BAYLES, Ph.D Lecturer in Ecclesiology [A.B., Columbia, 1891; A.M., 1892; LL.B., 1893; Ph.D., 1895.]
ELSIE CLEWS PARSONS, Ph.D., Lecturer in Sociology in Barnard College

________________________________

GROUP III—ECONOMICS AND SOCIAL SCIENCE

GRADUATE COURSES

It is presumed that students who take economics, sociology or social economy as their major subject are familiar with the general principles of economics and sociology as set forth in the ordinary manuals. Students who are not thus prepared are recommended to take the courses in Columbia College or Barnard College designated as Economics 1 and 2 (or A and 4) and Sociology 151-152.

The graduate courses fall under three subjects: A—Political Economy and Finance; B—Sociology and Statistics; C—Social Economy.

Courses numbered 100 to 199 are open to Seniors in Columbia College.

Courses numbered 200 and above are open to graduate women students upon the same terms as to men.

All the courses are open to male auditors. Women holding the first degree may register as auditors in Courses numbered 200 and above.

Subject A—Political Economy and Finance

ECONOMICS 101-102—Taxation and Finance. Professor SELIGMAN.
M. and W. at 1.30. 422 L.

This course is historical, as well as comparative and critical. After giving a general introduction and tracing the history of the science of finance, it treats of the various rules of the public expenditures and the methods of meeting the same among civilized nations. It describes the different kinds of public revenues, including the public domain and public property, public works and industrial undertakings, special assessments, fees, and taxes. It is in great part a course on the history, theories, and methods of taxation in all civilized countries. It considers also public debt, methods of borrowing, redemption, refunding, repudiation, etc. Finally, it describes the fiscal organization of the state by which the revenue is collected and expended, and discusses the budget, national, state, and local. Although the course is comparative, the point of view is American. Students are furnished with the current public documents of the United States Treasury and the chief financial reports of the leading commonwealths, and are expected to understand all the facts in regard to public debt, revenue, and expenditure contained therein.

Given in 1906-07 and in each year thereafter.

ECONOMICS 103—Money and Banking. Professor H. L. MOORE.
Tu. and Th. at 10.30, first half-year. 415 L.

The aim of this course is (1) to describe the mechanism of exchange and to trace the history of the metallic money, the paper money, and the banking system of the United States; to discuss such questions as bi-metallism, foreign exchanges, credit cycles, elasticity of the currency, present currency problems, and corresponding schemes of reform; (2) to illustrate the quantitative treatment of such questions as variations in the value of the money unit, and the effects of appreciation and depreciation.

ECONOMICS 104—Commerce and Commercial Policy. Dr. JOHNSON.
Tu. and Th. at 10.30, second half-year. 415 L.

In this course the economic bases of modern commerce, and the significance of commerce, domestic and foreign, in its relation to American industry, will be studied. An analysis will be made of the extent and character of the foreign trade of the United States, and the nature and effect of the commercial policies of the principal commercial nations will be examined.

ECONOMICS 105—The Labor Problem. Professor SEAGER.
Tu. and Th. at 11.30, first half-year. 415 L.

The topics considered in this course are: The rise of the factory system, factory legislation, the growth of trade unions and changes in the law in respect to them, the policies of trade unions, strikes, lockouts, arbitration and conciliation, proposed solutions of the labor problem, and the future of labor in the United States.

Given in 1906-07 and in alternate years thereafter.

ECONOMICS 106—The Trust Problem. Professor SEAGER.
Tu. and Th. at 11.30, second half-year. 415 L.

In this course special attention is given to the trust problem as it presents itself in the United States. Among the topics considered are the rise and progress of industrial combinations, the forms of organization and policies of typical combinations, the common law and the trusts, anti-trust acts and their results, and other proposed solutions of the problem.

Given in 1906-07 and in alternate years thereafter.

[ECONOMICS 107—Fiscal and Industrial History of the United States. Professor SELIGMAN.
M. and W. at 3.30, first half-year. 415 L.

This course endeavors to present a survey of national legislation on currency, finance, and taxation, including the tariff, together with its relations to the state of industry and commerce. The chief topics discussed are: The fiscal and industrial conditions of the colonies; the financial methods of the Revolution and the Confederation; the genesis of the protective idea; the fiscal policies of the Federalists and of the Republicans; the financial management of the War of 1812; the industrial effects of the restrictive and war periods; the crises of 1819, 1825, and 1837; the tariffs of 1816, 1824, and 1828; the distribution of the surplus and the Bank war; the currency problems before 1863; the era of “free trade,” and the tariffs of 1846 and 1857; the fiscal problems of the Civil War; the methods of resumption, conversion and payment of the debt; the disappearance of the war taxes; the continuance of the war tariffs; the money question and the acts of 1878, 1890, and 1900; the loans of 1894-96; the tariffs of 1890, 1894, and 1897; the fiscal aspects of the Spanish War. The course closes with a discussion of the current problems of currency and trade, and with a general consideration of the arguments for and against protection as illustrated by the practical operations of the various tariffs.

Not given in 1905-07.]

[ECONOMICS 108— Railroad Problems; Economic, Social, and Legal. Professor SELIGMAN.
M. and W. at 3.30, second half-year. 415 L.

These lectures treat of railroads in the fourfold aspect of their relation to the investors, the employees, the public, and the state respectively. A history of railways and railway policy in America and Europe forms the preliminary part of the course. The chief problems of railway management, so far as they are of economic importance, come up for discussion.

Among the subjects treated are: Financial methods, railway constructions, speculation, profits, failures, accounts and reports, expenses, tariffs, principles of rates, classification and discrimination, competition and pooling, accidents, and employers’ liability. Especial attention is paid to the methods of regulation and legislation in the United States as compared with European methods, and the course closes with a general discussion of state versus private management.

Not given in 1905-07.]

ECONOMICS 109 — Communistic and Socialistic Theories. Professor CLARK.
Tu. and Th. at 2.30, first half-year. 406 L.

This course studies the theories of St. Simon, Fourier, Proudhon, Rodbertus, Marx, Lassalle, and others. It aims to utilize recent discoveries in economic science in making a critical test of these theories themselves and of certain counter-arguments. It examines the socialistic ideals of distribution, and the effects that, by reason of natural laws, would follow an attempt to realize them through the action of the state.

ECONOMICS 110 — Theories of Social Reform. Professor CLARK.
Tu. and Th. at 2.30, second half-year. 406 L.

This course treats of certain plans for the partial reconstruction of industrial society that have been advocated in the United States, and endeavors to determine what reforms are in harmony with economic principles. It treats of the proposed single tax, of the measures advocated by the Farmers’ Alliance, and of those proposed by labor organizations, and the general relation of the state to industry.

ECONOMICS 201—Economic Readings I: Classical English Economists. Professor SEAGER.
Tu. and Th. at 11.30, first half-year. 415 L.

In this course the principal theories of the English economists from Adam Smith to John Stuart Mill are studied by means of lectures, assigned readings and reports, and discussions. Special attention is given to the Wealth of Nations, Malthus’s Essay on Population, the bullion controversy of 1810, the corn law controversy of 1815, and the treatises on Political Economy of Ricardo, Senior, and John Stuart Mill.

Given in 1905-06 and in alternate years thereafter.

ECONOMICS 202—Economic Readings II: Contemporary Economists. Professor SEAGER.
Tu. and Th. at 11.30, second half-year. 415 L.

In this course the theories of contemporary economists are compared and studied by the same methods employed in Economics 201. Special attention is given to Böhm-Bawerk’s Positive Theory of Capital and Marshall’s Principles of Economics.

Given in 1905-06 and in alternate years thereafter.

ECONOMICS 203-204—History of Economics. Professor SELIGMAN.
M. and W. at 3.30. 415 L.

In this course the various systems of political economy are discussed in their historical development. The chief exponents of the different schools are taken up in their order, and especial attention is directed to the wider aspects of the connection between the theories and the organization of the existing industrial society. The chief writers discussed are:

I. Antiquity: The Oriental Codes; Plato, Aristotle, Xenophon, Cato, Seneca, Cicero, the Agrarians, the Jurists.

II. Middle Ages: The Church Fathers, Aquinas, the Glossators, the writers on money, trade, and usury.

III. Mercantilists: Hales, Mun, Petty, Barbon, North, Locke; Bodin, Vauban, Boisguillebert, Forbonnais; Serra, Galiani ; Justi, Sonnenfels.

IV. Physiocrats: Quesnay, Gournay, Turgot, Mirabeau.

V. Adam Smith and precursors: Tucker, Hume, Cantillon, Stewart.

VI. English school: Malthus, Ricardo, Senior, McCulloch, Chalmers, Jones, Mill.

VII. The Continent: Say, Sismondi, Cournot, Bastiat; Herrmann, List, von Thünen.

VIII. German historical school: Roscher, Knies, Hildebrandt.

IX. Recent Development—England: Rogers, Jevons, Cairnes, Bagehot, Leslie, Toynbee, Marshall; Germany: Wagner, Schmoller, Held, Brentano, Cohn, Schäffle; Austria: Menger, Sax, Böhm-Bawerk, Wieser; France: Leroy Beaulieu, Laveleye, Gide, Walras; Italy: Cossa, Loria, Pantaleoni; America: Carey, George, Walker, Clark, Patten, Adams.

Given in 1906-07 and in alternate years thereafter.

ECONOMICS 205—Economic Theory I. Professor CLARK.
M. and W. at 2.30, first half-year. 406 L.

This course discusses, first, the static laws of distribution. If the processes of industry were not changing, wages and industry would tend to adjust themselves according to certain standards. A study of the mechanism of production would then show that one part of the product is specifically attributable to labor, and that another part is imputable to capital. It is the object of the course to show that the tendency of free competition, under such conditions, is to give to labor, in the form of wages, the amount that it specifically creates, and also to give to capital, in the form of interest, what it specifically produces. The theory undertakes to prove that the earnings of labor and of capital are governed by a principle of final productivity, and that this principle must be studied on a social scale, rather than in any one department of production. The latter part of this course enters the field of Economic Dynamics, defines an economic society and describes the forces which so act upon it as to change its structure and its mode of producing and distributing wealth.

ECONOMICS 206—Economic Theory II. Professor CLARK.
M. and W. at 2.30, second half-year. 406 L.

This course continues the discussion of the dynamic laws of distribution. The processes of industry are actually progressing. Mechanical invention, emigration and other influences cause capital and labor to be applied in new ways and with enlarging results. These influences do not even repress the action of the static forces of distribution, but they bring a new set of forces into action. They create, first, employers’ profits, and, later, additions to wages and interest. It is the object of the course to show how industrial progress affects the several shares in distribution under a system of competition, and also to determine whether the consolidations of labor and capital, which are a distinctive feature of modern industry, have the effect of repressing competition. It is a further purpose of the course to present the natural laws by which the increase of capital and that of labor are governed and to discuss the manner in which the earnings of these agents are affected by the action of the state, and to present at some length the character and the effects of those obstructions which pure economic law encounters in the practical world.

ECONOMICS 207—Theory of Statistics. Professor H. L. MOORE.
Tu. and Th. at 1.30, first half-year. 418 L.

The aim of this course is to present the elementary principles of statistics and to illustrate their application by concrete studies in the chief sources of statistical material. The theoretical part of the course includes the study of averages, index numbers, interpolation, principles of the graphic method, elements of demography, and statistical principles of insurance. The laboratory work consists of a graded series of problems designed to develop accuracy and facility in the application of principles. (Identical with Sociology 255.)

ECONOMICS 208—Quantitative Economics I: Advanced Statistics. Professor H. L. MOORE.
W. and F. at 11.30, second half-year. 418 L.

Quantitative Economics I and II (see Economics 210) investigate economics as an exact science. This course treats economics from the inductive, statistical side. It aims to show how the methods of quantitative biology and anthropology are utilized in economics and sociology. Special attention is given to recent contributions to statistical theory by Galton, Edgeworth, and Pearson. Economics 207, or an equivalent, is a prerequisite.

Given in 1905-06 and in alternate years thereafter.

ECONOMICS 210—Quantitative Economics II: Mathematical Economics. Professor H. L. MOORE.
W. and F. at 11.30, second half-year. 418 L.

This course treats economics from the deductive side. It aims to show the utility of an analytical treatment of economic laws expressed in symbolic form. The work of Cournot is presented and used as a basis for the discussion of the contributions to the mathematical method by Walras, Marshall, and Pareto. Economics 207, or an equivalent, is a prerequisite.

Given in 1906-07 and in alternate years thereafter.

ECONOMICS 241—The Economic and Social Evolution of Russia since 1800. Professor SIMKHOVITCH.
M. and F. at 9.30, first half-year. 418 L.

This course describes the economic development of the country, the growth of slavophil, liberal and revolutionary doctrines and parties, and the disintegration of the autocratic régime. (Identical with History 281.)

ECONOMICS 242—Radicalism and Social Reform as Reflected in the Literature of the Nineteenth Century. Professor SIMKHOVITCH.
M. at 9.30 and 10.30, second half-year. 418 L.

An interpretation of the various types of modern radicalism, such as socialism, nihilism, and anarchism, and of the social and economic conditions on which they are based.

ECONOMICS 291-292—Seminar in Political Economy and Finance. Professors SELIGMAN and CLARK.
For advanced students. Tu., 8.15-10.15 P.M. 301 L.

 

Subject B—Sociology and Statistics

SOCIOLOGY 151-152—Principles of Sociology. Professor GIDDINGS.
Tu. and Th. at 3.30. 415 L.

This is a fundamental course, intended to lay a foundation for advanced work. In the first half-year, in connection with a text-book study of theory, lectures are given on the social traits, organization, and welfare of the American people at various stages of their history and students are required to analyze and classify sociological material of live interest, obtained from newspapers, reviews, and official reports. In the second half-year lectures are given on the sociological systems of important writers, including Montesquieu, Comte, Spencer, Schäffle, De Greef, Gumplowicz, Ward, and Tarde. This course is the proper preparation for statistical sociology (Sociology 255 and 256) or for historical sociology (Sociology 251 and 252).

SOCIOLOGY 251—Social Evolution—Ethnic and Civil Origins. Professor GIDDINGS.
F. at 2.30 and 3.30, first half-year. 415 L.

This course on historical sociology deals with such topics as (1) the distribution and ethnic composition of primitive populations; (2) the types of mind and of character, the capacity for coöperation, the cultural beliefs, and the economic, legal, and political habits of early peoples; (3) early forms of the family, the origins, structure, and functions of the clan, the organization of the tribe, the rise of the tribal federations, tribal feudalism, and the conversion of a gentile into a civil plan of social organization. Early literature, legal codes, and chronicles, descriptive of the Celtic and Teutonic groups which combined to form the English people before the Norman Conquest, are the chief sources made use of in this course.

SOCIOLOGY 252—Social Evolution—Civilization, Progress, and Democracy. Professor GIDDINGS.
F. at 2.30 and 3.30, second half-year. 415 L.

This course, which is a continuation of Sociology 251, comprises three parts, namely: (1) The nature of those secondary civilizations which are created by conquest, and of the policies by which they seek to maintain and to extend themselves; (2) an examination of the nature of progress and of its causes, including the rise of discussion and the growth of public opinion; also a consideration of the policies by which continuing progress is ensured,—including measures for the expansion of intellectual freedom, for the control of arbitrary authority by legality, for the repression of collective violence, and for the control of collective impulse by deliberation; (3) a study of the nature, the genesis, and the social organization of modern democracies, including an examination of the extent to which non-political associations for culture and pleasure, churches, business corporations, and labor unions, are more or less democratic; and of the democratic ideals of equality and fraternity in their relations to social order and to liberty. The documents of English history since the Norman Conquest are the chief sources made use of in this course.

SOCIOLOGY 255—Theory of Statistics. Professor H. L. MOORE.
Tu. and Th. at 1.30, first half-year. 418 L.

This course is identical with Economics 207 (see [above]).

SOCIOLOGY 256—Social Statistics. Professor GIDDINGS.
Tu. and Th. at 1.30, second half-year. 418 L.

Actual statistical materials, descriptive and explanatory of contemporaneous societies, are the subject-matter of this course, which presupposes a knowledge of statistical operations (Sociology 255) and applies it to the analysis of concrete problems. The lectures cover such topics as (1) the statistics of population, including densities and migrations, composition by age, sex, and nationality, amalgamation by intermarriage; (2) statistics of mental traits and products, including languages, religious preferences, economic preferences (occupations), and political preferences; (3) statistics of social organization, including families, households, municipalities, churches, business corporations, labor unions, courts of law, army, navy, and civil service; (4) statistics of social welfare, including peace and war, prosperity, education or illiteracy, vitality, and morality, including pauperism and crime.

SOCIOLOGY 259—Ecclesiology. Dr. BAYLES.
Tu. and F. at 4.30, first half-year. 405 L.

The purpose of this course is to define the present relations of the ecclesiastical institutions to the other institutions of American society: the state, the government, marriage, family, education, and public wealth. An analysis is made of the guarantees of religious liberty contained in the federal and commonwealth constitutions; of the civil status of churches in terms of constitutional and statute law; of the methods of incorporation, of the functions of trustees, of legislative and judicial control; of denominational polity according to its type; of the functional activity of churches in their departments of legislation, administration, adjudication, discipline, and mission; of the influence of churches on ethical standards; of the distribution of nationalities among the denominations, of the territorial distribution of denominational strength, of the relation of polity to density of population, and of the current movements in and between various organizations tending toward changes of functions and structure.

SOCIOLOGY 279-280—Seminar in Sociology. Professor GIDDINGS.
W. at 3.30 and 4.30, bi-weekly. 301 L.

The Statistical Laboratory, conducted by Professors GIDDINGS and H. L. MOORE, is equipped with the Hollerith tabulating machines, comptometers, and other modern facilities.

Subject C—Social Economy

SOCIAL ECONOMY 281—Poverty and Dependence. Professor DEVINE.
Th. and F. at 4.30, first half-year. 418 L.

The purpose of this course and of Social Economy 282, which follows, is to study dependence and measures of relief, and to analyze the more important movements which aim to improve social conditions. An attempt is made to measure the extent of dependence, both in its definite forms, as in charitable and penal institutions, and in its less recognized and definite forms, as when it results in the lowering of the standard of living or the placing of unreasonably heavy burdens upon children or widows. Among the special classes of social debtors which are studied, besides the paupers, the vagrants, the dissipated, and the criminals, who require discipline or segregation as well as relief, are: Orphans and other dependent children; the sick and disabled; the aged and infirm; the widow and the deserted family; the immigrant and the displaced laborer; the underfed and consequently short-lived worker.

Given in 1905—06 and in alternate years thereafter.

SOCIAL ECONOMY 282—Principles of Relief. Professor DEVINE.
Th. and F. at 4.30, second half-year. 418 L.

In this course the normal standard of living is considered concretely to secure a basis from which deficiencies may be estimated. A large number of individual typical relief problems are presented, and from these, by a “case system,” analogous to that of the modern law school, the principles of relief are deduced. Among the larger movements to be considered are: Charity organization; social settlements; housing reform; the elimination of disease; the restriction of child labor; and the prevention of overcrowding, and especially the congestion of population in the tenement-house districts of the great cities.

Given in 1903-06 and in alternate years thereafter.

SOCIAL ECONOMY 283—Pauperism and Poor Laws. Professor SEAGER.
M. at 3.30 and 4.30, first half-year. 418 L.

This is an historical and comparative course intended to supplement Social Economy 281 and 282. Lectures on the history of the English poor law are followed by discussions of farm colonies, the boarding-out system for children, old-age pensions, and other plans of relief currently advocated in England. On this basis the public relief problems of New York State and City and the institutions attempting their solution are studied by means of excursions, lectures, and discussions.

SOCIAL ECONOMY 285—The Standard of Living. Professor DEVINE.
Th. and F. at 4.30, first half-year. 418 L.

A concrete study of the standard of living in New York City in the classes which are above the line of actual dependence, but below or near the line of full nutrition and economic independence. While this course will not be given in the year 1905-06, assignments will be made in the School of Philanthropy for research in such portions of this field as suitably prepared students may elect to undertake.

Given in 1906-07 and in alternate years thereafter.

SOCIAL ECONOMY 286—The Prevention and Diminution of Crime. Professor DEVINE.
Th. and F. at 4.30, second half-year. 418 L.

This course will deal with the social function of the penal and police systems. Special attention will be given to such subjects as juvenile courts; the probation system; indeterminate sentence; treatment of discharged prisoners; the system of local jails; segregation of incorrigibles, and prison labor.

Given in 1906-07 and in alternate years thereafter.

SOCIAL ECONOMY 290—Crime and Criminal Anthropology. Professor GIDDINGS.

Students desiring to make a special study of crime, criminal anthropology, and the theory of criminal responsibility may take the lectures of Sociology 256 or of Social Economy 286 and follow prescribed readings under the direction of Professor GIDDINGS.

SOCIAL ECONOMY 299-300—Seminar in Social Economy. Professor DEVINE.
Two hours a week. Hours to be arranged.

The work of the Seminar for 1905-07 will be a study of recent developments in the social and philanthropic activities of New York City; e. g., the social settlements; parks and playgrounds; outside activities of public schools; children’s institutions; relief societies; agencies for the aid of immigrants, and the preventive work of organized charities.

COURSES IN THE SCHOOL OF PHILANTHROPY

The School of Philanthropy, conducted by the Charity Organization Society, under the direction of Professor Devine, offers courses* aggregating not less than ten hours a week throughout the academic year, and also a Summer School course of six weeks in June and July. These courses are open to regular students of Columbia University who satisfy the director that they are qualified to pursue them with profit, and are accepted as a minor for candidates for an advanced degree.

The program of studies for 1905-06 is as follows:

            A—General survey (forty lectures) ; B—Dependent families (fifty lectures); C—Racial traits and social conditions (thirty-five lectures); D—Constructive social work (fifty lectures) ; E—Child-helping agencies (forty lectures); F—Treatment of the criminal (thirty lectures); G—Administration of charitable and educational institutions (thirty lectures); H—The State in its relation to charities and correction (forty lectures).

* These courses are given in the United Charities Building, corner Fourth Avenue and 22d Street.

 

COURSES IN COLUMBIA COLLEGE

ECONOMICS 1-2—Introduction to Economics—Practical Economic Problems. Professors SELIGMAN and SEAGER, and Dr. JOHNSON.
Section 1, M. and W. at 9.30, and F. at 11.30. Section 2, M., W., and F. at 11.30. M. and W. recitations in 415 L. F. lecture in 422 L.

 

COURSES IN BARNARD COLLEGE

ECONOMICS A—Outlines of Economics. Professor MOORE and Dr. JOHNSON.
Three hours, first half-year.
Section 1, Tu., Th., and S. at 9.30. Section 2, Tu. and Th. at 11.30, and S. at 9.30.

ECONOMICS 4—Economic History of England and the United States. Professor MOORE and Dr. JOHNSON.
M., W., and F. at 10.30, second half-year.

ECONOMICS 105—The Labor Problem. Professor SEAGER.
Tu. and Th. at 1.30, first half-year.

The topics treated in this course are the rise of the factory system, factory legislation, the growth of trade unions and changes in the law in respect to them, the policies of trade unions, strikes, lockouts, arbitration and conciliation, proposed solutions of the labor problem, and the future of labor in the United States.

ECONOMICS 120—Practical Economic Problems. Professor SEAGER.
Tu. and Th. at 1.30, second half-year.

The topics treated in this course are the defects in the monetary and banking systems of the United States, government expenditures and government revenues, protection vs. free trade, the relation of the government towards natural monopolies, and federal control of trusts.

ECONOMICS 121—English Social Reformers. Professor MOORE.
W. and F. at 1.30, first half-year.

A critical study of the social teachings of Carlyle, Ruskin, John Stuart Mill, Kingsley, and Thomas H. Green.
Open to students that have taken Course A or an equivalent.

ECONOMICS 122—Economic Theory. Professor MOORE.
W. and F. at 1.30, second half-year.

A critical study of Marshall’s Principles of Economics. The principal aim of this course is to present the methods and results of recent economic theory.
Open to students that have taken Course A or an equivalent.

ECONOMICS 109—Communistic and Socialistic Theories. Professor CLARK.
Tu. and Th. at 11.30, first half-year.

In this course a brief study is made of the works of St. Simon, Fourier, Proudhon, Owen, and Lassalle, and a more extended study is made of Marx’s treatise on capital. Recent economic changes, such as the formation of trusts and strong trade unions, are examined with a view to ascertaining what effect they have had on the modern socialistic movement.

ECONOMICS 110—Theories of Social Reform. Professor CLARK.
Tu. and Th. at 11.30, second half-year.

In this course a study is made of modern semi-socialistic movements and of such reforms as have for their object the improvement of the condition of the working class. Municipal activities, factory legislation, the single tax, recent agrarian movements and measures for the regulation of monopolies are studied.

SOCIOLOGY 151-152—Principles of Sociology. Professor GIDDINGS.
Tu. and Th. at 2.30.

This is a fundamental course, intended to lay a foundation for advanced work. In the first half-year, in connection with a text-book study of theory, lectures are given on the social traits, organization, and welfare of the American people at various stages of their history, and students are required to analyze and classify sociological material of live interest, obtained from newspapers, reviews, and official reports. In the second half-year, lectures are given on the sociological systems of important writers, including Montesquieu, Comte, Spencer, Schäffle, De Greef, Gumplowicz, Ward, and Tarde.

SOCIOLOGY 153-154 —Family Organization. Dr. ELSIE CLEWS PARSONS.
Tu. at 3.30, bi-weekly.

Field work in the study of family groups. Consultations.
Open to Seniors.

In connection with the lectures and field work of this course opportunities are given to students to become acquainted with the more important private institutions for social betterment in New York City, and to study the organization and activity of the various public agencies charged with the welfare of the community.

 

COURSES IN THE SUMMER SESSION

sA—Economic History of England and America. Lectures, recitations, and essays. Dr. JOHNSON.
Five hours a week at 1.30. 501 F. Credit I
(Equivalent, when supplemented by prescribed reading, to Economics 4.)

sB—Principles of Economics. Lectures and class discussions. Dr. JOHNSON.
Five hours a week at 2.30. 501 F. Credit I.
(Equivalent, when supplemented by prescribed reading, to Economics 1.)

sA1—Principles of Sociology. Descriptive and theoretical. Professor GIDDINGS.
Five hours a week at 10.30. 415 L. Credit I, II.
(Equivalent to Sociology IS1-)

sA2—Principles of Sociology. History of sociological theory. Professor GIDDINGS.
Five hours a week at 9.30. 415 L. Credit I, II.
(Equivalent to Sociology 152.)

Source: Columbia University. Bulletin of Information. Courses Offered by the Faculty of Political Science and the Several Undergraduate Faculties. Announcement 1905-07. pp. 3, 24-36.

Image Source: Roberto Ferrari, Unveiling Alma Mater [Sept 23, 1903]. Columbia University Libraries. July 15, 2104.

Categories
Harvard Regulations

Harvard. Economics Ph.D. Regulations, 1968

 

Besides the general university regulations governing the award of a Ph.D. degree, specific departmental rules evolve as a matter of case-law decided committee meeting by committee meeting and/or departmental meeting by departmental meeting. In the summer of 1968 the Harvard chairman of economics, Professor Richard Caves, offered the following codification of specific economics practice. Caves’ cover letter and memo that I have transcribed below were found in personal departmental files kept by John Kenneth Galbraith.

___________________________________

1968 Codification of Harvard Economics Ph.D. Regulations

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

OFFICE OF THE CHAIRMAN

M-8 LITTAUER CENTER
CAMBRIDGE 38, MASSACHUSETTS

September 13, 1968

To: Members of the Department of Economics
From: R. E. Caves, Chairman

Attached is a memorandum prepared this summer which seeks to codify the department’s regulations concerning the Ph.D. program. It is restricted to information not contained in the Graduate School of Arts and Sciences, General Announcement, 1968-1969 (“The Red Book”) and the leaflet “Higher Degrees in Economics,” Supplement to the General Announcement.

For some time I have felt the need for a memorandum of this type, for distribution both to graduate students and members of the department. A number of changes have been made during the last few years in the administration of various phases of the PhD. program, and it is difficult to bring these to the attention of the students. Furthermore, some regulations rest on oral traditions that I have found to vary depending on whose mouth they come from. This memorandum has been prepared following a search of the minutes of Department and Executive Committee meetings, and in consultation with the chairman of the Committee on Graduate Instruction. Please bring any inaccuracies to my attention.

This document will be distributed to the returning graduate student at the annual meeting held with them during the first week of classes. (It seems best to spare the first-year students until a psychologically more propitious time.)

Let me take this opportunity to remind members of the Committee on Graduate Instruction that they will be in charge of advising first-year graduate students this year, superseding our previous practice of assigning them to all professors and associate professors in the Department.

___________________________________

DEPARTMENT REGULATIONS GOVERNING THE Ph.D. IN ECONOMICS

SUGGESTIONS FOR COURSE REGISTRATION

First year graduate students in economics with an ordinary undergraduate background should usually enroll in 201a, b, 221a, b, and 233a, b, plus some other course (or pair of half courses) relating to one of the fields that they expect to present on the general examination. Those who have not passed the mathematics exemption exam should substitute 199 for 201a and 221a during the fall term; either 200a or some other graduate course not requiring advanced prerequisites may be included. 201a and 221a are then begun in the spring semester and their continuations (201b and 221b) completed in the following fall. The mathematics placement examination is advisory, so that students who feel its results do not accurately reflect their abilities may consult the instructors in 201a or 221a.

Four courses per term is the standard load, and full-time students are not permitted to take less. There is no tuition charge for additional courses.

First year students may proceed on their own to arrange reading courses where they seem appropriate. Representative cases would be where the student is preparing an optional field for the general examination for which no regular course is currently given, or where his previous study covers a substantial portion but not all of the first-year theory, history, or statistics courses. (None of these courses is required, although they are recommended for most students.) It is also possible for first year students to sign up for “Time,” although this is normally used primarily to cover study for the general examination, and should not be substituted for a reading course without good cause.

The same general rules pertain to registration for the second year. Economics 202a is normally a second-year course, and students who still need to complete 221b or 201b or both should do so during the fall term. Other courses should be chosen to complete the preparation of the fields which the student plans to present on the oral examination.

The department expects that students will normally take at least one working seminar before the end of their second year. This may be taken during the first year, but ordinarily comes in the second. The Graduate Instruction Committee maintains an up-to-date list of working seminars. Second-year students may then wish to register for “Time” for a substantial part of their program. They are not permitted to do so unless the working seminar requirement has been or is being fulfilled. Exceptions to this requirement are given by the chairman only in rare cases to students who are still carrying a heavy load of regular courses during their second year.

In the third year, or after the residence requirement and general examination have been completed, students do not need to be registered if they are not taking courses. Those in residence, however, will ordinarily wish to register in order to use the university’s facilities, and Teaching Fellows must be registered. Registration at this stage may be either for thesis supervision (Economics 301) or “Time” unless the student wishes to take some regular course.

Students who have done graduate work in economics elsewhere before coming to Harvard may wish to apply for transfer credit. This has the sole effect of reducing their tuition obligation to the University. Since none of our courses is required of graduate students, it has no formal implications for either course registration or for the grade average compiled at Harvard. Credit for work done elsewhere is granted at the discretion of the Graduate Instruction Committee. The number of courses for which credit is granted depends on grades earned at Harvard, the nature of courses taken elsewhere and the quality of the student’s performance in them. The maximum credit that may be given for work done other than at Harvard is eight half courses, and students will be granted all or part of this, depending on the record compiled in the Department. Petition forms for requesting credit for work done elsewhere may be secured from the Graduate Office (Littauer M-13) at the end of the student’s second semester in residence at Harvard.

 

THE GENERAL EXAMINATION

The Department of Economics has prepared a number of handouts describing such topics as writing off fields for the general examination, the written theory and statistics examinations, and fields of concentration; these are available in Littauer M-13.

Composition and Timing of the General Examination. The General Examination is given in three parts: a four-hour written examination in economic theory and its history, a four-hour written examination in statistical methods, and a one-and-one-half hour oral examination in three specialized fields.

General examinations are given twice a year, once in the fall and once in the spring. In the past, the fall theory examination has occurred about November 7 and the spring theory examination the week after spring vacation, around April 11. The statistics examination is ordinarily given a few days after the theory exam. Two to three weeks are allowed for grading, so that the fall oral examinations commence after Thanksgiving vacation and the spring orals at the end of April. Exact dates are posted on the bulletin board outside M-13 as soon as they are available. All parts of the examination must ordinarily be taken at the same time, i.e., a student may not take and pass the theory written exam in one “season” and defer the balance until the next. Students will, however, in some cases be permitted to take the written statistics exam prior to the other two parts.

In the past, it was possible for students to request a particular date for the oral examination. With increased number of students to be examined, this is becoming less and less feasible, especially in the spring. Requests to be first are much more likely to be entertained than requests to be last. In the final analysis, the Department feels that the composition of the board is a great deal more important than the actual exam date, and we consequently give this factor priority in scheduling.

Application for the General Examination. Students are invited to apply for the fall exam after October 1 and for the spring exam after March 1. Application may be made in M-13.

The Written Examination. Copies of past exams are available in M-12. It should be understood that the Department is in no way committed to the format or contents of past exams. Because Business Economics Ph.D. candidates are not responsible for the portion of the written theory examination dealing with the history of economic thought, they are given an optional alternate question.

In order to take the Oral Examination, a student must pass both the written theory and written statistics examinations. In most cases, students will not be examined orally on economic theory and statistical methods material covered on the written examinations. However, candidates who receive a grade of Fair Minus on the written theory examination will take a separate oral examination in economic theory and its history, which will be conducted by at least two members of the committee responsible for the written theory examination. This examination will be given as soon as possible after the theory examinations are graded, and the candidate must pass this separate examination in order to present himself for the general oral examination. The oral theory examination will last about forty minutes and will cover the same subjects, but not necessarily the same questions, as the written theory examination. If the candidate fails the oral theory examination, he will also be considered to have failed the written theory examination; if he passes the oral theory examination, his grade on the written theory examination will remain Fair Minus, and he may proceed to the remainder of the general examination.

The procedure for the statistics examination is somewhat different. A student who performs marginally on the written statistics examination will be examined orally in statistics at his general oral examination along with his other three fields. A student who had planned to present General Analytic Ability plus two specialized fields may therefore find he must present statistics orally. If so, he will continue to present General Analytic Ability, but will have a four member board. A student with no write-off will present four specialized fields: economic history, two selected fields, and statistics.

About two or three weeks after the theory and statistics examinations, students are told whether or not they have passed via sealed envelope distributed by the Graduate Secretary in M-13. Students who must present either statistics or theory orally are informed at this time. Except for any Fair Minuses, letter grades are not given out and no grades are posted.

Write-offs. Although the general examination normally consists of three parts, the written theory examination, the written statistics examination, and the oral examination, it is sometimes possible for students to waive either the statistics examination or one field of the oral examination. The theory examination may never be waived and students may not write off more than one field.

Normally the write-off requirement will consist of distinguished grades in either one full course or two half courses indicated for that field. “Distinguished grades” are defined as A or A- for a full course, or at least an A- average for two half courses, obtained by one of the following combinations: A and A; A and A-; A and B+; A- and A-. The following do not qualify: A- and B+; A and B. The order in which the grades are obtained is not important.

Because the spring general examination is given before the end of the second semester, the questions of conditional write-offs may arise. If a student has completed the first semester of a pair of half courses for the write-off and is taking the second semester course at the time he wishes to present that field on his general examination, he may do so only if he obtained an A in that course first semester. If, at the end of the second semester, he does not have at least a B+ in that course, he will be required to take an oral examination in the field.

The courses usable for a write-off change somewhat from year to year, and students should check with the Graduate Office before taking two halves of a write-off in different years. However, if a student completely fulfills a write-off requirement his first year and does not take his general examination until his second year (the most usual case), he may still waive a generals field with his first year work, even though the write-off requirements may have changed substantially by the time he takes his generals.

The sheet on write-off requirements that is available each fall in the Graduate Office contains a list of fields in which a write-off is automatically granted for candidates with the requisite grades. Occasionally, a student will wish to write off a field which is not listed. In this case, a student has the right to petition, in writing, the Committee on Graduate Instruction.

Final jurisdiction on all matters pertaining to write-offs rests with the Committee on Graduate Instruction. Students who wish a write-off that deviates from the normal procedure should check with the Graduate Secretary in M-13, who will supply instructions on petitioning the Committee. To allow the Committee ample time to meet and discuss petitions, and to allow a student to revise his program of study if his petition is rejected, a student should present his petition as soon as possible, certainly no later than the beginning of the semester in which he wishes to take his Generals.

The Oral Examination. The identity of the board members remains a secret until twenty-four hours before the oral. (Those with Monday exams are informed by a Sunday phone call.) The board will usually consist of three faculty members, at least one of whom is tenured.

Students who have no write-off, or who write off statistics, will be examined in three fields. All others will be examined in two regular fields, but a third examiner will be present on the board to evaluate the student’s General Analytic Ability.

The final grade on the General Examination is a composite of three other grades: the theory exam grade, the statistics exam grade, and the grade on the orals. The only grade that is recorded on the permanent record is the final grade. Students are informed within an hour or so of their oral examinations of their final grade for the general.

As in the past, if a student fails any portion of the general oral examination, he fails the entire oral examination, and must again present the same three specialized fields (or two specialized fields and General Analytic Ability). If a student who must present statistics orally fails this portion of the general examination, he will have to retake both the written statistics examination and the entire general oral examination.

Students who receive a grade of at least Good Minus on the general are not required to take a final examination in any fields which were presented at the oral.

Master of Arts Degree. Students who have passed all portions of the general examination may apply for an M.A. degree. There is no fee for this. However, students who have received credit for work done elsewhere should check before applying for an M.A., as this may jeopardize having the necessary sixteen half courses for the Ph.D. residence requirement. Since there is a December 1 deadline for the March degree and an April 1 deadline for the June degree, degree applications may be submitted by the optimistic before generals are taken.

As far as the Department has been told, applying for an M.A. in no way affects one’s draft status, unless the MA. is a terminal one.

 

SUPERVISION OF THE DOCTORAL DISSERTATION

A student is expected to begin active work on his doctoral dissertation as soon as he has completed his General Examination. At that time, he will ask two faculty members from the Department to comprise his thesis committee and to supervise his thesis until it is completed. One of the committee members should be either a professor or an associate professor in the Department (or comparable visiting faculty member), but the second committee member may be chosen from among the lecturers and assistant professors. In some cases it has been possible for students to choose as one committee member a professor from either another department at Harvard or from the economics department of another university. The student will ask one of the committee members (which need not be the tenure member) to serve as principal director of his thesis and chairman of his thesis committee. (A different procedure applies optionally to students who passed the general examination before 1968.)

Having secured approval from two faculty members, a Ph.D. candidate shall register his thesis topic with the Graduate Office within one term after completing the General Examination. On the appropriate form, he shall propose to the Department Chairman a thesis topic and suggest the two faculty members who have agreed to supervise it. The Chairman of the Department will consider the suitability of the proposed thesis committee. Unless they hear otherwise, students may assume approval has been given.

Throughout the time he is writing his thesis, a student is expected to keep in touch with both members of his dissertation committee on the progress of his work. In case a member of the dissertation committee leaves the university for more than a semester, the student is responsible for suggesting a replacement. Department members who are on leave from the university are expected, however, to continue to supervise theses begun under them whenever practicable.

Every student who has passed his General Examination since February 1, 1966, is required to present at least one report on his thesis project to a working seminar. Each year a list of working seminars is issued by the committee on Graduate Instruction. If no working seminar in the field exists, arrangements shall be made for presenting the thesis to another seminar in the presence of at least one member of the thesis committee. Students who plan to be out of residence while writing their dissertations would contact the Department Chairman regarding special arrangements for fulfilling this requirement.

Students are reminded that five years after the general oral examination has been passed, there is a deadline for submitting the thesis. Because the special examination is an investigation of a student’s knowledge of his particular field, not merely a thesis defense, it is imperative that a student maintain an up-to-date knowledge of his field. Students who spend many years writing their dissertations may tend not to keep in touch with current literature and may find themselves handicapped at the special examination. Therefore the Department is quite strict about enforcing this five-year rule, and extensions of time are by not means automatic.

A limited amount of computer time is available each year to students writing theses. Unfortunately, the funds available have been increasingly less adequate in recent years, but the Department is able to allow each student one-half hour of time for writing his thesis. However, we are sufficiently constrained that it is impossible for us to give thesis-writing students additional time beyond the thirty minutes except in a few special cases. Students must plan their programs very carefully and take advantage of the services of the IBM fellows in order to cut costs. Anyone planning a thesis which will involve considerable use of the computer should be all means establish how it will be financed before beginning work on it. While it is unfortunate that students must sometimes pay for their own computer time, this avenue is nevertheless always open. Computer time on the 7094 costs $2.50 a minute and students whose fellowships or personal finances permit the outlay may always purchase time. Computer time is arranged through the Graduate Office in M-13.

Some seminars and courses have funds to finance computing needs for term papers, etc. Slightly more lenient rules than those quoted above apply to holders of NSF Fellowships.

 

THE SPECIAL EXAMINATION AND COMPLETION OF THE THESIS

When a candidate has nearly finished writing his doctoral dissertation, he shoud see the Graduate Secretary in Littauer M-13 about typing and binding the thesis and taking the Special Examination.

In order to take the Special Examination, it is required that a candidate first submit two bound copies of his thesis to the Department.* At this time he will fill out an application for the Special Examination. A third reader will be chosen and an examination date fixed. (Should a second reader not already have been chosen, he will also be selected at this time.)

*In spite of past leniency, the Department will be adamant about enforcing this rule, and exceptions to it will not be automatic.

            Contrary to the extract “Higher Degrees under the Department of Economics,” from the Supplement to the General Announcement, the thesis does not have to be submitted by December 1 for a March degree or March 1 for a June degree. However, candidates must file a degree application with the Graduate Secretary by December 1 for a midyear degree or April 1 for Commencement, and must pass the Special Examination before either February 1 or June 1 for the appropriate degree to be conferred. A degree application may be filed before the thesis is submitted, as degree applications may be withdrawn if the thesis is not completed in time.

Special examinations may be arranged at any time of the year. Students are warned, however, to allow ample time for the readers after the final draft is completed and before the special exam is scheduled. Furthermore, a serious traffic jam develops at the end of every summer, when most faculty members are away and many students wish to finish in order to take fall jobs. The department cannot guarantee prompt scheduling of specials at this time.

Candidates are reminded that the Special Examination is now formally an examination in the field, or parts of fields, in which the thesis lies. Students are referred to a memorandum dated September 12, 1966, which explains this further.

Physical Requirements for the Thesis. “The Form of the Doctoral Thesis,” taken from the Supplement to the General Announcement, explains procedures for finishing the thesis, but the following points should be noted.

Number of Copies. Unless specifically told otherwise by his advisor, a student may assume the Department requires only two copies of his thesis.

Paper. The first copy of the thesis must be typed on Crane’s thesis paper, which is available in the Coop. The second copy may be Xeroxed. As twenty pound paper does not travel successfully through most Xerox machines, it obviously cannot be required for the second copy. If the second copy is a carbon, it should be done on thirteen pound (or heavier) paper. Any deviation from this format should be cleared through Mr. Elkins, Archivist at Widener Library.

Summary. Although a summary is no longer required by the Graduate School of Arts and Sciences, two copies of a four to ten page summary are required by the Department of Economics. The summaries are initialed by the two supervising members of the thesis committee when the thesis is accepted and are inserted in a pocket in the back of each copy of the thesis. In addition, the Department would like a 75-word summary of the thesis to be published in the September issue of the American Economic Review.

Binding. The New England Book Binding Company, 24 Blackstone Street, Cambridge (located parallel to Memorial Drive and one block north, between Western Avenue and River Street, phone 868-7220), can bind theses in five working days for about $9.00 per volume. They will also pick up and deliver in Cambridge. Candidates should be sure to tell the bindery to put a pocket for the summary in the back of each copy of the thesis, as this is not done automatically. The thesis may be bound in any reasonable color.

Footnotes. Unless a student is informed otherwise by his advisor, he may follow the editorial recommendations on page 4 of “The Form of the Doctoral Thesis.” Footnotes may be at the bottom of the page, within the text, at the end of chapters, or at the end of the thesis.

Thesis Acceptance Certificate. The Thesis Acceptance Certificate is signed by the first and second readers at the Special Examination. The Department will take care of pasting it in the thesis.

Caveat. Once a thesis has been taken to the Registrar’s Office, it cannot be retrieved.

Special Examination. The special field or fields in which the Special Examination shall be taken are designated by the chairman of the dissertation committee. The exam also constitutes a defense of the thesis.

The two supervising members of the thesis committee agree on a grade on the thesis itself. A separate grade on the special examination is given by the three-man examining committee.

 

Source: John Kenneth Galbraith Papers. Series 5. Harvard University File, 1949-1990. Box 526, Folder “Harvard University Department of Economics: General correspondence, 1967-1974 (3 of 3)”.

Image Source: PhinisheD Gown at pinterest.co.uk

 

 

 

Categories
Fields Harvard Regulations Statistics

Harvard. Use of written general examination for quantitative methods in economics, 1968

 

We can see in the following memo how the traditional oral examinations had to be adapted for a field such as quantitative methods that does not lend itself readily to oral examination while still holding to the principle of a general oral examination  “to assess the candidate’s general ability to use the tools of theory and quantitative methods and to understand the interrelation of different parts of the discipline.” I am surprised that they were apparently still using oral examination for quantitative methods up through the 1967 “generals season”.

___________________________

Additional Oral General Examiner for Students Taking Written Quantitative Methods Exam

April 10, 1968

Memo to: Members of Department of Economics
From: Richard E. Caves, Chairman

At its meeting of February 27, the Department of Economics voted to change the examining procedure for the field of quantitative methods. A written exam will now be given in this field, with the result that students having a write-off and presenting the field of quantitative methods will be offering only two fields on the oral examination. It was voted that, in these cases, a third examiner be present to judge the candidate’s general ability to use economic reasoning and his proficiency as an economist.

A number of members of the department will be asked to take up this open-ended rule in oral examinations during the Spring generals season. Discussion at the Department meeting indicated an agreement that the third examiner should not raise detailed questions of substance outside of the two fields being presented for specific oral examination, but should try to assess the candidate’s general ability to use the tools of theory and quantitative methods and to understand the interrelation of different parts of the discipline. It was suggested that the third examiner might either take his turn at the end of the examination or break in periodically during examination in the two specific fields. He also might, if practical, develop questions on the basis of the candidate’s performance in the written theory and statistics examinations.

The new system of oral examination may call for some change in our traditional method of grading a general examination, which involved each examiner giving a grade both on his own field and on the examination as a whole. It may be more suitable, depending upon the course of the individual examination, for the third examiner to evaluate only the examination as a whole. The grade on the written statistics examination should be taken into account in the same way that the grade on the written theory exam has been in the past.

The Department viewed the inclusion of a third examiner as experimental. I hope that members of the department who have taken up this role will discuss it among themselves to help us develop a standard of practice in this area an to evaluate its usefulness.

 

Source: John Kenneth Galbraith Papers. Series 5. Harvard University File, 1949-1990. Box 526, Folder “Harvard University Department of Economics: General correspondence, 1967-1974 (3 of 3)”.

Image Source:  “Bye-Bye, Blue Books?” in Harvard Magazine, July/August 2010.

Categories
Economic History Harvard Syllabus Williams

Harvard. American Industrial History. Readings and Paper Topics. John E. Sawyer, 1949-51

 

 

Some instructors play only briefly a part in an economics department’s regular program. Today we have the Harvard assistant professor John Edward Sawyer who taught undergraduate American economic history for a few years at mid-20th century before going on to teach at Yale and ultimately becoming the president of his alma mater, Williams College. I have provided a memorial minute for some additional biographical information about Sawyer. The minute is followed by a list of topics and recommended reading for his American economic history course term paper as well as the required reading list.

An obituary for John Edward Sawyer by Henry B. Dewey was published at the American Antiquarian Society Proceedings of the Semiannual Meeting (April 22, 1995).

____________________________

 

Sawyer, John Edward (1917-1995)
Williams College President 1961-1973
By Prof. J. Hodge Markgraf (Williams Class of 1952)

 

In this nation, in this century, Jack Sawyer was a giant among leaders of higher education, among executives of philanthropic foundations, and among the pioneers in environmental studies. To all of these endeavors he brought high intelligence, wide knowledge, humanistic values and keen analysis.

It is his impact on this college that brought him national prominence and it is that leadership which this memorial minute celebrates. Jack’s involvement with Williams started early. He came to campus with his father, Class of ’08, and his brother, Class of ’37, before his own matriculation here as a freshman in September 1935. By the time he graduated magna cum laude with Highest Honors in History (he was the first thesis student of President James Phinney Baxter), he had joined a fraternity, been elected to Phi Beta Kappa, sung in the Glee Club, worked on the Gul , served as a Junior Advisor, and helped edit the Purple Cow magazine. The Class of 1939 was unique in this century because it provided four distinguished members of this faculty: in addition to Jack, they were Jim Burns, Bill Gates, and Jack Savacool.

Jack Sawyer’s next official connection to Williams came in 1952, when he was appointed a permanent trustee at age 34. He was named our 11th president in 1961; at age 44 he was the youngest Williams president in this century. He served as president for 12 years and, when he left in 1973, every aspect of this college was transformed: students, faculty, curriculum, administration, trustees, alumni, finances, and physical plant. It is difficult to convey the scope and manner of these changes. Within days of his arrival here he appointed a committee to study the fraternity question, and he had its report in less than a year. The trustees’ decision to replace fraternities with a residential house system set the stage for the construction of housing and dining facilities. A new record for annual alumni giving that winter of 1962-1963 helped dispel the notion that alumni were upset over this bold move. It should come as no surprise that the Alumni Fund outdid itself. Behind the scenes, generous donors assured Jack the goal would be exceeded, an action that thwarted a pro-fraternity group calling for funds to be withheld. At the same time, Jack experimented with more flexible admissions criteria (the so called 10% program), ended compulsory attendance for the classroom and the chapel, instituted paid assistant professor leaves, created the offices of provost and dean of the faculty, and was persuaded by four science faculty (only one of whom was tenured) to build a science center for research and computing.

In mid-decade he took the lead in revising the curriculum to include non-western studies, changing the college calendar to create the Winter Study Program, establishing the first center for environmental studies at the college level, increasing the number of African-American students, expanding the recruitment of women and minorities for faculty and administration positions, and completing a capital campaign eight times the scale of the previous one.

At the end of the decade he helped create the Twelve College Exchange Program, he engineered the change to coeducation here more sensitively than any other institution undergoing the same transition, and he was one of the leaders in establishing the New England Small College Athletic Conference. His last curricular contribution was the Graduate Program in the History of Art. Throughout the decade he increased the diversity of trustee membership by including women, minorities, and young alumni.

These extraordinary changes, for the most part, met with ready acceptance and surprising harmony. Jack’s presidency, however, was not without stress. There was the expected hostility from some alumni over the demise of fraternities, and there were objections from similar quarters over the coeducation decision. Internally, younger faculty in 1968 were expressing displeasure with an entrenched committee structure that dominated faculty governance. The result was the Faculty Steering Committee, the introduction of term limits for committee assignments, the addition of students to most faculty committees, and limited attendance by students at faculty meetings. In 1969 black students occupied offices in Hopkins Hall to protest deficiencies in the curriculum, in social and cultural events, and in admissions as they related to Afro-American concerns. What followed were increased staffing, funding, and diversity in the Afro-American Studies Program, in social and cultural events, in admissions and administrative activities.

Finally, in May 1970 the U.S. government’s military actions in southeast Asia, especially the Cambodian incursion, resulted in protests on many campuses. The deep feelings expressed by students and faculty at Williams, shared by Jack, led to the canceling of the last two weeks of classes and the suspension or postponement of final exams. Those were the easy moves. He then organized delegations of students, faculty, and trustees to call on members of Congress to press the case for disengagement. It was characteristic of him to insist that a trustee be part of each delegation in order to demonstrate a consensus within this college community. These public crises were not easy for Jack because many of the college’s constituencies were neither shy nor uncertain about offering advice. The fact that we survived as well as we did is testimony to his leadership and that of many others.

Throughout his public career Jack’s leadership reflected his sense of stewardship. He was acutely aware that the institutions he led were entrusted to him for only a short time and that prior events implied both limitations and opportunities. Above all else, however, he aspired to lead a life that was useful and, in doing so here, his vision for Williams redefined this college. His multiple initiatives were all part of a larger schema. His horizon was further and his sight was clearer than most of his contemporaries. He was wise, compassionate, witty, gracious, and extraordinarily well read. He cared foremost about people and ideas. His desire to effect meaningful change and his ability to chart the clearest pathway sometimes resulted in an attention to detail that not everyone appreciated. In observing these situations, I was convinced that such micromanagement did not stem from pettiness or a need for power, but rather from an unavoidable desire to have everyone’s energies coherent and focused.

Sometimes his analytical prowess could not be restrained. During CAP interviews with faculty candidates, he occasionally became so engaged with their description of the doctoral thesis that he would redesign their expositions and suggest an additional chapter or two, citing the key primary literature that ought to be consulted. Applicants’ responses ranged from barely-concealed resentment to profound gratitude.

The biographical facts are these. John Edward Sawyer was born in Worcester, Massachusetts, on 5 May 1917. He attended Deerfield Academy, obtained an A.B. degree from Williams, and earned an A.M. degree from Harvard in 1941. He completed all requirements for a Ph.D. except the thesis before serving as an officer in the U.S. Navy from 1942 to 1946, assigned to the Office of Strategic Services in Washington, North Africa and Europe. He than returned to Harvard as a Junior Fellow in the Society of Fellows (1946-1949) and as an Assistant Professor (1949-1953). He was an Associate Professor at Yale University (1953-1961) before becoming President of Williams College (1961-1973). In 1974 he became Vice President of the Andrew W. Mellon Foundation and served as its President from 1975 until his retirement in 1987 at age 70.

His many honors included the U.S. Navy Bronze Star medal, thirteen honorary degrees, the National Academy of Sciences Public Welfare Medal, the Phi Beta Kappa Award for Distinguished Service to the Humanities, the Woods Hole Oceanographic Institution Chairman’s Award, and the Williams College Bicentennial Medal.

In June 1941 he married Anne Swift, who in 1984 was the first recipient of the college’s Ephraim Williams Medal. Jack Sawyer died in Woods Hole, Massachusetts, on 7 February 1995 at age 77.

His foremost legacy is this college. His life was splendidly useful.

Source: Markgraf, J. Hodge. “John Edward Sawyer.” 8 March 1995. Williams College Faculty Meeting Minutes. Williams College Archives. Also available online at Williams College, Special Collections, Williams History—Presidents.

____________________________

Course Announcement

Economics 136 (formerly Economics 36a). Economic History: The Growth of an Industrial Economy in the United States

Half-course (spring term). Mon., Wed., and (at the pleasure of the instructor) Fri., at 12. Assistant Professor Sawyer.

 

Source: Final Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1950-51. Official Register of Harvard University, Vol. XLVII, No. 23 (September 1950), p. 81.

____________________________

Course Enrollment
[1949-50]

[Economics] 136a. (formerly Economics 36a). Economic History: The Growth of an Industrial Economy in the United States. (Sp) Assistant Professor Sawyer.

Total 68: 1 Graduate, 18 Seniors, 25 Juniors, 15 Sophomores, 4 Radcliffe 5 Other.

 

Source: Harvard University. Report of the President of Harvard College, 1949-50, p. 73.

____________________________

1949-50
Economics 136

Undergraduate Papers

Each student will prepare a paper due not later than May 15 on a problem in American economic history since 1800.

The paper is to be 10-15 pages in length (3,000 – 4,000 words). It is to be based on an additional 300-500 pages of reading, usually from more than one book, on one of the topics suggested below; or on other topics or books of special interest to the student for which he has secured the approval of the instructors.

The paper is not to be a mere descriptive summary of the reading. The student should rather draw on the reading, and the sum of his work in history and economics, to discuss an important economic problem within the topic on which he has read.

Each student is responsible for getting his own books and for submitting as early as practical a one-paragraph statement of his reading plans and of the problem he expects to deal with (the latter may, of course, change as the reading progresses). The final paper should indicate the reading on which it is based and the sources (including other courses) on which the paper has drawn.

The following examples illustrate the kind of problems which a paper might treat within some of the different topics:

  1. The relationship between technological change and the growth of a particular industry.
  2. The factors that prevented the development of a Central Bank in the United States in the 19th
  3. The role of the railroad in the growth of a particular market area.
  4. The role of transportation and location in the economic growth of a given city.
  5. The role of Rockefeller (or any other business man) in the growth of large-scale enterprise, his attitudes towards competition and the economic conditions behind these attitudes.

1800 – 1880’s

Geography and Land

E.C. Semple, American History and Its Geographic Conditions
R.M. Robins, Our Landed Heritage
B.E. Hibbard; A History of the Public Land Policies
A.M. Sakolski, The Great American Land Bubble
P.W. Gates, The Wisconsin Pine Lands
K. Coman, Economic Beginnings of the Far West

Population

W.W. Thompson and P.K. Whelpton, Population Trends in the U.S.
Census Monograph, 1909, A Century of Population Growth, 1790-1900
M.L. Hansen, The Atlantic Migration
M.L. Hansen, The Immigrant in American History

Transportation

J.G.B. Hutchins, American Maritime Industries and Public Policy, 1789-1914
R.G. Albion, The Rise of the New York Port
W.J. Lane, From Indian Trail to Iron Horse
Cleveland and Powell, Railroad Promotion and Capitalization in the U.S.
P.W. Gates, The Illinois Central Railroad and its Colonization Policies
U.B. Philips, A History of Transportation in the Eastern Cotton Belt
R.C. Overton, Burlington West
R.F. Riegel, Story of the Western Railroads
E.C. Kirkland, Men, Cities and Transportation
W.F. Gephart, Transportation and the Development of the Middle West

Development of Markets

L.E. Atherton, The Pioneer Merchant in Mid-America
F.M. Jones, Middleman in the Domestic Trade of the U.S.
T.S. Berry, Western Prices before 1861, A Study of Cincinnati Market
R.G. Albion, The Rise of the Port of New York, 1815-1860
J.W. Livingood, The Philadelphia-Baltimore Trade Rivalry, 1780-1860
G.S. Callendar, The Early Transportation and Banking Enterprises of the States, Quarterly Journal of Economics, Vol. XVII

Technological Progress

Leo Rogin, Introduction of Farm Machinery in Relation to Productivity of Agriculture
F. McCormick, The Development of Farm Machinery
J.V. Roe, English and American Toolmakers
A.P. User, A History of Mechanical Inventions
S.C. Gilfilan, The Sociology of Inventions
[and] Inventing the Ship

Industrial Growth

V.S. Clark, The History of Manufactures in the U.S., Vols. I, II
R.M. Tryon, Household Manufacture in the U.S., 1640-1860
A.H. Cole, American Wool Manufacture, 2 vols.
C.F. Ware, The Early New England Cotton Manufacture
M.T. Parker, Lowell, A Study in Industrial Development
V. Schlakman, Economic History of a Factory Town
C.M. Green, Holyoke, Massachusetts
J.R. Commons, History of Labor in the U.S., Vols. I, II
N.J. Ware, The Industrial Worker, 2 vols.

Business Organization and Government Policy

Cochran and Miller, The Age of Enterprise
Oscar Handlin, Commonwealth: Massachusetts 1774-1861
Louis Hartz, Economic Policy and Democratic Thought
W.J. Lane, Cornelius Vanderbilt
Sidney Ratner, Social History of American Taxation
F.W. Taussig, Tariff History of the U.S.
J.S. Davis, Essays in the Earlier History of American Corporations, 2 vols.
J.W. Cadman, Jr., The Corporation in New Jersey: Business and Politics, 1791-1875

Role of Capital and Economic Growth

N.J. Silverling, The Dynamics of Business
W.B. Smith and A.H. Cole, Fluctuations in American Business, 1790-1860
L.H. Jenks, The Migration of British Capital to 1875
G.W. Van Vleck, The Panic of 1857
R.G. McGrane, Foreign Bondholders and American State Debts
R.A. Foulke, The Sinews of American Commerce

Money and Banking

M.S. Myers, The New York Money Market, Vol. I
D.R. Dewey, State Banking before the Civil War
R.A. Lester, Monetary Experiments
E.R. Tauss, Central Banking Functions of the Treasury
H.E. Miller, Banking Theories in the US. before 1860
A.B. Hepburn, A History of Coinage and Currency in the U.S.
R.C.H. Catterall, The Second Bank of the U.S., 2 vols.
N.S.B. Gras, The Massachusetts First National Bank of Boston, 1784-1934

Agricultural Expansion

L.B. Schmidt and Ross, Readings in the Economic History of American Agriculture
Bidwell and Falconer, History of Agriculture in the Northern States, 1620-1860
L.C. Gray, History of Agriculture in the Southern U.S. to 1860
E.E. Edwards, American Agriculture—the First 300 Years in Yearbook of Agriculture, 1940
A.W. Griswold, Farming and Democracy

The Social Impact of Economic Change

Joseph Dorfman, The Economic Mind in American Civilization
C.M. Green, Holyoke, Massachusetts
Oscar Handlin, Boston’s Immigrants
R.R. Russell, The Economic Aspects of Southern Sectionalism
P.S. Foner, Business and Slavery
T.D. Clark, Pills, Petticoats and Plows: The Southern Country Store

1880’s — 1940’s

Population

M.L. Hansen, The Immigrant in American History
Carter Goodrich and Associates, Migration and Economic Opportunity
National Resources Com., The Problems of a Changing Population

Land Policy

R.M. Robbins, Our Landed Heritage
B. H. Hibbard, A History of Public Land Policies

Transportation

Sidney L. Miller, Inland Transportation
Stuart Daggett, Railroad Reorganization
J.I. Bogen, The Anthracite Roads
J.E. Otterson, Foreign Trade and Shipping
W.Z. Ripley, Railroads: Rates and Regulation
W.Z. Ripley, Railroads: Finance and Organization
U.S. National Resources Planning Board, Transportation and National Policy, Part II, Section 1, Air Transport
K.T. Healy, The Economics of Transportation in America
C.E. Puffin, Air Transportation, 1941

Technological Progress

L.L. Corwin, TNEC Monograph 22, Technology in Our Economy
Harry Jerome, Mechanization in Industry
National Resources Planning Committee, Technological Trends and National Policy
N.R. Danielian, A.T.&T.
Holland Thompson, The Age of Invention
A.A. Bright, The Electric Lamp Industry
W.R. MacLaurin, Innovation and Invention in the Radio Industry

Industrial Growth

Solomon Fabricant, The Output of Manufacturing Industries
Ralph Epstein, The Automobile Industry
Rudolph Clemen, The American Livestock and Meat Industry
Victor Clark, History of Manufactures in the U.S., Vols. II, III
G.E. McLaughlin, Growth of Manufacturing Areas
H. Barger and S. Schwartz, The Mining Industries, 1899-1939
J.B. Walker, Epic of American Industry
Pearce Davis, Development of the Glass Industry
D.H. Wallace, Market Control of the Aluminum Industry
P.A. Rickard, A History of American Mining

Money and Banking

Margaret Myers, The New York Money Market
G.H. Edwards, The Evolution of Finance Capitalism
National Industrial Conference Board, The Banking Situation in the U.S., 1932
W.Z. Ripley, Main Street and Wall Street
W.C. Mitchell, History of Greenbacks
E.R. Tauss, Central Banking Functions of the Treasury
H.E. Miller, Banking Theories in the U.S. before 1860
A.D. Noyes, Forty Years of American Finance
B.U. Ratchford, American State Debts
W.G. Schultz and M.R. Caine, Financial Development of the U.S.

Income and Economic Growth

Simon Kuznets, National Income: A Summary of Findings
Colin Clark, The Conditions of Economic Progress
N.J. Silberling, The Dynamics of Business
National Industrial Conference Board, Studies in Enterprise and Social Progress
TNEC Monograph 37, Saving, Investment, and National Income
TNEC Monograph 12, Profits, Productive Activities and New Investment
Report of the Committee on Recent Economic Changes in U.S., 2 Vols, 1929

Agriculture

L.B. Schmidt and E.D. Ross, Readings in the Economic History of American Agriculture
U.S. Dept. of Agriculture, 1940 Yearbook of Agriculture
U.S. Dept. of Agriculture, 1940 Yearbook of Agriculture
Fred Shannon, The Farmer’s Last Frontier
H. Barger, and H.H. Landsbert, American Agriculture 1899-1939
R.P. Brooks, The Agrarian Revolution in Georgia 1865-1912
J.D. Black, Agricultural Reform in the U.S.
A.W. Griswold, Farming and Democracy
Geoffrey Shepherd, Marketing Farm Products

Labor

J.R. Commons, etc., History of Labor in the U.S., Vols III, IV, 1935
L.L. Lorwin, The American Federation of Labor
C.E. Bonnett, Employer’s Associations in the U.S., 1922
H. Millis and R. Montgomery, The Economics of Labor, 3 vols, 1945
Slichter, Union Policies and Industrial Management
Samuel Gompers, Seventy Years of Life and Labor, 1925
E.W. Bakke, The Unemployed Worker
P.F. Brissenden, The I.W.W., A Study in American Syndicalism

Business Organization and Government Policy

H.R. Seager and C.A. Gulick, Trust and Corporation Problems, 1929
M.W. Watkins, Industrial Concentration and Public Policy
A.H. Burns, The Decline of Competition, 1936
R.W. Brady, Business as a System of Power, 1941
B.H. Williams, The Economic Foreign Policy of the U.S.
F.W. Taussig, Tariff History of the U.S.
Keith Sward, The Legend of Henry Ford
A.T. Mason, Brandeis and the Modern State
A. Nevins, J.D. Rockefeller

The Social Impact of Economic Change

T.C. Cochran and W. Miller, The Age of Enterprise
Economic Growth, Journal of Economic History, Supplement to Vol. VII, 1948
T.W. Arnold, The Folklore of Capitalism, 1937
L.D. Brandeis, Other People’s Money, 1914
C.D. Thompson, Confessions of the Power Trust, 1932
R.S. and H.M. Lynd, Middletown, 1929; and Middletown in Transition, 1937
James West, Plainville, U.S.A., 1945
George Soule, Prosperity Decade, 1947
Broadus Mitchell, Depression Decade, 1947
A.M. Schlesinger, The Rise of the City
Ida Tarbell, The Nationalizing of Business, 1878-1898
H.U. Faulkner, The Quest for Social Justice, 1898-1914

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 4, Folder “Economics, 1949-1950 (2 of 3)”.

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Economics 136
Spring term
Required reading list — 1950-51

A textbook is used in this course to provide a comprehensive historical survey complementary to the more topically organized lectures. Each student will normally buy, along with other books marked with an asterisk below, one of the following texts:

Recommended for general undergraduate use:

Kirkland, E.C., A History of American Economic Life, Rev. Ed. (Crofts)

Recommended for graduate students and undergraduates seeking a more advanced text:

Williamson, H.F., The Growth of the American Economy (Prentice Hall)
Historical Statistics of the United States, 1789-1945 (Govt Printing Office)

Reading assignments up to the Hour Test (tentatively March 21)

Text: Kirkland, Chs. IV-XI or equivalent in Williamson (approximately the first half)

Other reading (in the order given):

*Franklin, Benj., Autobiography, any edition, entire, or equivalent to pp. 6-38, 75-149, 216-34 of the Modern Library edit.
Taylor, George R., ed., The Turner Thesis, Problems in American Civilization (Heath), sections 1, 4 – 9.
Taylor, George R., ed., Jackson vs. Biddle, Problems in American Civilization (Heath), sections 1- 10
Reading on capital formation
*Manning and Potter, Gov’t and the American Economy (Holt) pp. 35–73, 75-115

Reading assignments between the Hour Test and Reading Period

Text: Kirkland, Chs. XII-XVII or equivalent in Williamson (approximately second half)

Other readings (in order given):

Manning and Potter, ibid., 75-115, 8[?]-23
Reading on business cycles
Shannon, Fred A., The Farmer’s Last Frontier (Farrar and Rinehart). Chs. V-IX, XV
Millis and Montgomery, Organized Labor, Ch. II and III, and Manning and Potter, ibid., 117-60, 161-200
Berle and Means, The Modern Corporation and Private Property, selections

Reading period (tentatively)

Schumpeter, Capitalism, Socialism and Democracy. Parts II-IV

An essay of 10-15 pages on some problem in American economic history will be due approximately one week before the end of the reading period.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 5, Folder “Economics, 1950-1951 (1 of 3)”.

____________________________

 

[Final] Reading Period Assignment
May 7-May 26, 1951

Economics 136:

J. A. Schumpeter, Capitalism, Socialism and Democracy. Preface to the Second Edition and Parts II and III
H. C. Simons, Economic Policy for a Free Society, Chapters I and II

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. (HUC 8522.2.1) Box 5, Folder “Economics, 1950-1951 (1 of 3)”.

Image Source: John Edwards Sawyers in 1970.

 

Categories
Berkeley Columbia

Columbia Economics Ph.D. Alumnus (1931) and Berkeley professor, Leo Rogin

 

Today we get a glimpse of the life of Russian-born economist Leo Rogin who died at age 54 after having taught twenty years at UC Berkeley.

A additional brief biographical paper of Leo Rogin that highlights his influence on John Kenneth Galbraith:

Robert W. Dimand and Robert H. Koehn. Galbraith’s Heterodox Teacher: Leo Rogin’s Historical Approach to the Meaning and Validity of Economic Theory. Journal of Economic Issues, Vol. 42, No. 2 (June, 2008) pp. 561-568.

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Leo Rogin, Economics: Berkeley
1893-1947

by Robert A. Brady, Ralph W. Chaney, and Malcolm M. Davisson

The greatest tribute to Leo Rogin’s intellectual qualities was the response of his students. They invariably reported his classes to be extraordinarily challenging and exhilarating. Few teachers paid so little lip service to the conventional canons of pedagogy, yet few were able to stir up such animated and continuous reëxamination of fundamental propositions which underlie social theory in general and economic theory in particular. Former students are scattered all over the country who, years after, remember his classes as the outstanding intellectual experience of their entire college career.

Part of this experience was derived by contact with his charming personal qualities: an infectious enthusiasm, a wonderful sense of humor, a never failing delight in new ideas, and a great tolerance in outlook and interpretation. Some of these qualities may trace back to a life of rich and varied personal experience. He was born in Mohilev, Russia, on April 18, 1893. His father, manager of a large Russian estate, moved with his family to the United States in 1902, where in due time they became American citizens. Leo Rogin’s early interest was quite naturally devoted to agricultural subjects. He received the B.S. degree in Agriculture from Rutgers College in 1916 and the Ph.D. degree in Economics from Columbia University in 1931. He began teaching as Instructor in Economics and Sociology at Grinnell College in 1921. The following year he became Associate Professor of Economics and Sociology at North Carolina College for Women. In 1926 he was Assistant Professor of Economics at Lawrence College, Wisconsin. He came to the University of California in 1927, where he was Lecturer (1927-1938), Associate Professor (1938-1946), and Professor (1946-1947).

Interspersed with his teaching were other professional assignments. In 1925-1926 he served as Economist on the staff of the Guarantee Trust Company. In 1934-1935 he was Chief of Staff of the Labor Advisory Board of the NRA. In 1937-1938 he was Director of an extensive Survey of Destitution in Wyoming.

An understanding of the contribution of Leo Rogin must begin with the realization that he held that neither theory nor practice in the social sciences could be adequately analyzed or creatively expanded or refined outside of a frame of reference which was coextensive with the dual role of citizen and scholar. From this it followed that the differentia specifica which separates the social sciences from the natural sciences inheres in the structure, character, and functioning of social relations as such; that there is no escape from the acceptance of the historicity of social science theory, however formal and abstract; and that no aspect of social sciences–economics, political science, sociology–can be looked upon as more than a specific angle of an approach to an examination of the social sciences as a whole.

It is no accident, accordingly, that Leo Rogin felt, as an economist, that this view required that he become unusually well versed in philosophy and history. That this implied a stronger, rather than a weaker, imperative for rigor in his thinking processes is indicated by his systematic and long drawn-out self-education in logic and mathematics. But this very same emphasis also led him to feel that since the significant reality of the social sciences was an ever-changing and perpetually fluid manifold of social relations, it was highly necessary to cultivate a sense for the vagaries of theory by active participation in the social life of his time. Thus his personal as well as his scholarly life represented a quite unusual wedding of theory and practice. He maintained an acute and vivid interest in people, events, and a whole range of current social problems while at the same time constantly pursuing a heavy schedule of detailed and exacting research. This research had just begun to yield its most important results at the time of his sudden death in the summer of 1947. A major work, tentatively titled The Meaning and Validity of Economic Theory, representing some ten years of intensive work, is to be published in 1948. This study, dealing with the major figures in the evolution of economic thought from the time of the Physiocrats and the founding of the Classical School to J. M. Keynes, was prefatory to two other projected works. One was to be a detailed study of Keynes, whom Rogin regarded as one of the great transitional figures of contemporary times. The other was to be a constructive examination of the theory of economic planning.

Thus his work was cut off at the very time when it bore promise of yielding a significant reëxamination of economic theory as a whole. His earlier critical writings reflected a very carefully outlined plan of work and were notable for their penetration and originality. Particularly noteworthy was a series of articles and reviews on the writings of Karl Marx and Werner Sombart. An earlier study, The Introduction of Farm Machinery in its Relation to the Productivity of Labor in the Agriculture of the United States During the 19th Century, published by the University of California Press in 1931, reflects his intense interest in the practical side of economic investigation and forecasts his later concern over techniques and methodology. E. A. J. Johnson said of this study that, “It is at once a set of findings and a method… his methodological contributions are indispensable to economic historians.” His later work would have amplified this statement to cover the significant problems of contemporary theory and policy formation.

In 1923 Leo Rogin married Winifred Ellsworth. His widow, three daughters, and a son survive him.

Source: University of California. In Memoriam, 1947.

Image Source:  Blue and Gold, 1922.

 

 

 

 

 

 

 

Categories
Exam Questions Fields Harvard

Harvard. Money, Banking, and Crises. PhD General Exam, 1930s

 

While economics course examination questions are relatively abundant at Harvard, field examinations for Ph.D. candidates are not so common. The following is transcribed from a carbon-copy found in a departmental folder labeled “1935-37-38-42”.  Judging from the questions, I might have guessed the exam would have come earlier than the late 1930s. At least for now we’ll have to say “exact year unknown”.

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General Examination for the Ph.D. Degree.
Money, Banking, and Crises.

  1. Briefly compare the experience of France and the United States with bimetallism. What lessons can be drawn from the experience of the two countries?
  2. What factors worked in favor of, and what against, the successful operation of the Bland-Allison Act during the 80’s?
  3. Compare the general organization of banking in England with that in Germany. Which seems to you the stronger? Why?
  4. What features of the Canadian banking system affect the elasticity of note issue in that country? How elastic is the Canadian bank note issue? How has the note issue been affected by the “rest fund fad”? How do you account for the “rest fund fad”?
  5. Describe the use of call loans in banking in the United States. To what extent and for what reasons are such call loans made? Are they an element of strength or weakness in our system? Why!
  6. What is meant by a free gold market? Are the following such: (a) London; (b) Paris; (c) Berlin; (d) New York? In each case, why or why not?
  7. How will the rate of sterling exchange in New York be affected by: (a) a slump on the New York Stock Exchange; (b) low call money rates in New York; (c) a financial panic in the United States?
  8. What are the three best index numbers for the study of general prices since 1895 in England and the United States? What are the points of strength and weakness in each?
  9. Describe and criticize at length Professor Fisher’s plan for stabilizing or standardizing the gold dollar.

 

Source: Harvard University Archives. Department of Economics. Correspondence & Papers 1902-1950 (UAV.349.10), Box 23, Folder “Course Outlines 1935-37-38-42”.

 

 

 

Categories
Cornell Harvard Suggested Reading

Harvard. Local taxation. Suggested topics and readings. Durand, 1902

 

This posting was prepared at the INET Festival for New Economic Thinking in Edinburgh (October 19-20, 2017). It turned out to be a nice case-study of preparing an artifact for Economics in the Rear-view Mirror. Edward Dana Durand was a Cornell Ph.D. in economics and statistics who was to go on to be a director of the U.S. Census. He taught at Harvard in 1902, between jobs. For this course I was only able to find the instructions for preparing a report on taxation with suggested reading.  Course description, enrollment figures as well as two short biographical pieces are included below.

A memorial piece by K. Pribram was published as “Edward Dana Durand (1871-1960)” in Revue de l’Institut International de Statistique / Review of the International Statistical Institute  Vol. 28, No. 1/2 (1960), pp. 118-120.

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EDWARD D. DURAND
THE NEW CENSUS DIRECTOR

The Outing Magazine, August 1909

WHEN your chief says it will take a “corking” good man to fill your place, it means he is paying you the best compliment possible. This is what Commissioner of Corporations Herbert Knox Smith said of his deputy, Edward Dana Durand, when the commissioner was told that President Taft had decided to place Mr. Durand at the head of the Census Bureau. In his office on the floor above Mr. Durand received the news with the pleasure of feeling that a part of his ambitions were about to be realized. He felt that he had at last been chosen to fill the most exacting office that could be assigned to a statistician.

Naturally Mr. Durand will encounter many difficulties in his new position, but it is expected that his confidence in himself will be of as great aid as it has been in the past. Different from Mr. North, his work is academic, Mr. Durand being possibly the best-trained statistician ever appointed to the position of Director of the Census Bureau.

While he has held various positions as a teacher, Mr. Durand has not gained the distinction in academic work that he has outside. Nevertheless his success in government service has been speedy and gratifying. His most significant work in the public eye has been his book on the finances of New York City, his work with the Industrial Commission, and with the Bureau of Corporations. While serving as secretary of the Industrial Commission he edited a very creditable report of nineteen volumes. This proved that while Mr. Durand is not a good writer he is a good organizer. As Deputy Commissioner of Corporations he gained experience with the report on the Beef Trust, for which report he was chiefly responsible. He set his standard as a statistician, however, in his report on the Standard Oil Trust, which was issued from the same bureau.

Mr. Durand was born in Romeo, Michigan, October 18, 1871, his father being Cyrus Y. Durand, a druggist. He is one of five children, all now living.

He lived for about eleven years at Romeo, when the family moved to Huron, South Dakota, then a very new town, and “took up a claim” of land near there. Mr. Durand finished his high-school education at Huron, and then went for one year to Yankton College. From there he went to Oberlin College, Ohio, and graduated there in 1893. During the summer of 1893 Mr. Durand was stenographer to the Secretary of the World’s Columbian Exposition at Chicago. He then went to Cornell University and took a post-graduate course in political science, economics, and statistics. During this time he was assistant to Prof. J. W. Jenks, Secretary of the American Economic Association. He received the degree of Doctor of Philosophy from Cornell, in 1896.

After leaving Cornell Mr. Durand was employed for nearly two years in the New York State Library, at Albany, his special duty being to prepare material for the assistance of members of the Legislature, including the publication of indices and digests of the laws passed annually by the various states of the country.

At the beginning of 1898 Mr. Durand was appointed Assistant Professor of Political Economy and Finance at Stanford University, California, where he remained for a year and a half. When the Industrial Commission, of which he was secretary, was disbanded, he lectured on corporation and labor questions for a year at Harvard University. In 1903 he was appointed an expert on street railways in the Census Bureau, where he held the position of special examiner for about four months before being called to the Bureau of Corporations.

He was married in 1903 to Mary Elizabeth Bennett, who had been a classmate of his at Oberlin College. They have two children, both boys.

When he finishes his work with the Census he may have his other ambition gratified of being called back to academic work, possibly as president of some college.

Mr. Durand becomes Director of the Census Bureau upon the eve of taking the Thirteenth Census of the United States. This is the government’s largest statistical job, and since our census is more elaborate and detailed than that of any foreign country, it can be recognized what the new officer has to encounter. Some idea of the immensity of the work can be gained by a study of the act of Congress authorizing the taking of the census.

While Mr. Durand is very affable in his manners there is nothing effusive about him. Of medium height and build, his forehead so high as to give the impression of being slightly bald, and wearing a small moustache, he is withal of striking appearance. During the last few days that he was Deputy Commissioner of Corporations he could be found busily engaged in putting the office in order for his successor. The days were warm and he worked without his coat, wearing most of the time a white shirt and a double-ply collar with a small black bow-tie.

Source: The Outing Magazine, Vol. 54, August 1909, pp. 563-564.

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 U. S. Census Bureau: History/Directors

Edward Dana Durand (1909-1913): Durand was born, in 1871, in Romeo, Michigan. When he was still a child, however, his parents moved to a homestead in South Dakota. Durand attended Yankton College for one year before transferring to Oberlin College. He received a Ph.D. from Cornell University in 1896. After receiving his doctorate, Durand moved between several government and academic positions until 1909, when he became deputy commissioner of corporations. Later that year, President Taft appointed him the new director of the census. He replaced Samuel North, who had left after repeated clashes with the secretary of commerce and labor, and took over the Census Bureau well into the planning process for the 1910 census.

Durand concentrated much of his energy on improving the preparation of census reports. He pioneered several lasting innovations in the presentation of data at the Census Bureau. For example, Durand introduced the publication of state-level reports and the early release in press releases of statistics for which there was the greatest demand (such as the total population of individual cities, states, and the United States population). These releases were be followed by bulletins, abstracts, and final reports with greater detail.

After leaving the Census Bureau in 1913, Durand eventually took a place on the U.S. Tariff Commission, where he served from 1935 until his retirement in 1952. He died in 1960.

Source:  From webpage of the U.S. Census Bureau. History, Directors 1909-21  .

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Course Description

[7b2 hf. The Theory and Methods of Taxation, with special reference to local taxation in the United States. Half-course (second half-year).]

Omitted in 1902-03. [sic]

In this course both the theory and practice of taxation will be studied. Attention will be given at the outset to the tax systems of England, France, and Germany; and the so-called direct taxes employed in those countries will receive special consideration. After this, the principles of taxation will be examined. This will lead to a study of the position of taxation in the system of economic science, and of such subjects as the classification, the just distribution, and the incidence of taxes. Finally, the existing methods of taxation in the United States will be studied, each tax being treated with reference to its proper place in a rational system of federal, state, and local revenues.

Written work will be required of all students, as well as a systematic course of prescribed reading. Candidates for Honors in Political Science and for the higher degrees will be given the opportunity of preparing theses in substitution for the required written work.

Course 7b is open to students who have taken Economics 1.

Source:   Harvard University, Faculty of Arts and Sciences. Division of History and Political Science comprising the Departments of History and Government and Economics, 1902-03 (University Publications, New Series, no. 55, June 13, 1902), pp. 49-50.

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Course Announcement

7b1 hf. The Theory and Methods of Taxation, with special reference to local taxation in the United States. Half-course (first half-year). Mon., Wed., Fri., at 12. Dr. Durand.

 

Source:   Harvard University, University Publications, new Series, No. 8 Extra Ed., Announcement of the Courses of Instruction provided by the Faculty of Arts and Sciences for the Academic Year, 1902-03 (1902), p. 44.

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Course Enrollment

7b 1hf. Dr. Durand.—The Theory and Methods of Taxation, with special reference to local taxation, in the United States.

Total: 21.   3 Graduates, 13 Seniors, 4 Juniors, 1 Other.

 

Source: Harvard University, Annual Report of the President of Harvard College, 1902-03, p. 68.

http://pds.lib.harvard.edu/pds/view/427018754?n=70&oldpds

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ECONOMICS 7b
REPORTS AND THESES, 1902

Each student is expected to prepare a brief, informal report on the system of State and local taxation in some particular State. The report should describe chiefly present methods, with considerable fullness, but need not enter into extensive criticism of the working of the system. The amount received by the State treasury from various sources should be stated wherever practicable. Reliance should be placed mainly on original documents. Among the States whose finances are most interesting and can be most easily and satisfactorily treated are: Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Ohio, Indiana, Michigan, Illinois, Wisconsin, Iowa, Maryland, North Carolina, Kansas, Mississippi, Georgia. Students will do well to write to the State comptroller or auditor for copies of tax laws and financial reports.

A more extensive and formal thesis will also be presented by each student. it should be primarily descriptive, but should involve some account of historical development, and careful criticism of the working of the system or method covered.        Exact references, by title, volume, and page, or by chapter and section, must be given for all facts cited, whether in reports or theses, and a bibliography of works consulted must be appended. Large diagrams should be prepared where statistics suitable for graphic presentation are found.

The following topics for theses are suggested, but others may be chosen if desired: —

SUGGESTED THESIS SUBJECTS

  1. The United States Internal Revenue System.
  2. History of the Tariff up to the Civil War.
  3. The Tariff during and since the War.
  4. Special War Taxes in the United States.
  5. The Federal Income Tax.
  6. Constitutionality of the Income Tax of 1894.
  7. The Tax System of Great Britain.
  8. The Tax System of Prussia.
  9. Taxation in the Australasian Colonies.
  10. Taxation in Massachusetts.
  11. Taxation in New York.
  12. Taxation in Pennsylvania—or some other selected State.
  13. Progressive Taxation in Practice.
  14. Excise Taxes in the United States and Europe.
  15. Stamp and Transaction Taxes.
  16. The Income Tax in the United States and Foreign Countries.
  17. Personal Property under the General Property Tax.
  18. Double Taxation under the General Property Tax.
  19. Theoretical Comparison of Property and Income Taxes.
  20. The Inheritance Tax.
  21. Taxation of Land Values.
  22. Business License Taxes.
  23. General Corporation Taxes.
  24. Taxation of Railroads.
  25. Taxation of Banks and insurance Companies.
  26. Legal Aspects of Corporation Taxes.
  27. Relation of State and Local Taxation.
  28. Special Assessments.
  29. Exemptions from Taxation in the United States.

CHIEF SOURCES FOR REPORTS ON STATE TAXATION

Poor, B. P.: Constitutions.

Clapperton, Geo.: Taxation in Various States and Canada. In Reports of the Industrial Commission. Vol. XI.

New York State Library: State Finance Statistics, 1890, 1895.

Census of 1890: Valuation and Taxation.

Ely, R. T.: Taxation in American States and Cities.

Seligman, E. R. A.: State Finance Statistics. In Publications of American Statistical Association, 1889.

Hollander, J. H., Ed.: Studies in State Taxation.

Chapman, J. W.: State Tax Commissions in the United States. In Johns Hopkins University Studies, 1897.

Reports of special State commissions and committees on taxation. The most important are the following, which are mostly in the library: Massachusetts, 1875, 1897; New York, 1871-72, 1894, 1900; Pennsylvania, 1889; Connecticut, 1887; Ohio, 1893; Maine, 1889; New Jersey, 1897; Illinois, 1885; Wisconsin, 1899-1901; Oregon, 1886.

Reports of State Bureaus of Labor Statistics in Illinois, 1894 and 1896; Missouri, 1896; Connecticut, 1896.

Compilations of tax laws of individual states, published separately, or in general compilations, known as Revised Statutes, General Laws, etc. Accessible in Law School.

Reports of State comptrollers or auditors, State treasurers, and State boards of assessment, equalization, etc. Few are in the Harvard Library, but many may be found in the Massachusetts State Library and the Boston Public Library, and others may be obtained by correspondence.

 

BIBLIOGRAPHY OF GENERAL WORKS

Many of the above references will be useful in preparing theses.

Wells, D. A.: Theory and Practice of Taxation.

Cossa, L.: Taxation, its Principles and Methods.

Cohn, G.: The Science of Finance (translation).

Leroy-Beaulieu, P.: Traité de la Science des Finances.

Wagner, A.: Finanzwissenschaft.

Palgrave, R. H. I.: Dictionary of Political Economy.

Conrad, J.: Handwörterbuch der Staatswissenschaften.

Say, L.: Dictionnaire des Finances.

Statesman’s Yearbook.

United Kingdom: Statistical Abstracts for Foreign Countries.

United States Treasury Reports.

Industrial Commission: Vol. XIX, Taxation: Vol. IX, Taxation of Transportation Companies; Vol. XI, Clapperton’s report.

Reports of the Special Commissioner of the Revenue, 1866-69.

Cooley, T. M.: Law of Taxation.

Howe, F. C.: Taxation under the Internal Revenue System.

Columbia College Studies in History, Economics, and Public Law; Various monographs on State systems and on special methods of taxation.

Seligman, E. R. A.: Essays in Taxation, Shifting and Incidence of Taxation, Progressive Taxation in Theory and Practice.

 

Source: Harvard University Archives. Syllabi, Course Outlines and Reading Lists in Economics, 1895-2003 (HUC 8522.2.1), Box 1, Folder “Economics, 1902-03”.