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Funny Business M.I.T.

M.I.T. Economics Faculty Skit à la Rowan and Martin’s “Laugh-In”, December 1968

 

This post continues our series “Funny Business” that features successful and less-than-successful attempts at humor by economists. Reading one of these historical skits demands the reader to concede that the defense, “It seemed funny at the time,” might actually be valid for fifty year old jokes.  At the December 1968 Graduate Economics Association party the M.I.T. economics faculty offered its version of the wildly popular, frenetic comedy series “Rowan and Martin’s Laugh-In” (like “Sit-in”, get it? As I just said, “it seemed funny at the time”). 

For young and non-U.S. historians of economics, remote learning of the original Laugh-In content is easy:

Rowan & Martin’s Laugh-In information at IMDb.
Rowan & Martin’s Laugh-In highlights on YouTube.

The tag-line “Sock it to me” was a creation of the 1960s and made a meme by Rowan and Martin’s Laugh-In. Paul Samuelson closing the skit with that line is almost up there with 1968 Presidential candidate Richard Nixon’s saying it in his cameo appearance on Laugh-In.

The skit transcript below includes some square-bracketed comments to help the reader. Of course, nothing says “joke” more than a good footnote.

______________________

Reminder/Invitation

December 11, 1968

Graduate Students, Faculty Members
and Secretaries

DON’T FORGET!!

            A week from today is the GEA Christmas Party—Tuesday, December 17th. The festivities will begin at 8:00 pm in the Campus Room of Ashdown House. Admission is only $1.00 and the entertainment is free.

______________________

GEA CHRISTMAS SKIT 1968
[Faculty]

 

Music

[Franklin M.] Fisher: It’s the Faculty Laugh-In.

Music

(Enter [E. Cary] Brown, [Paul A.] Samuelson and [Robert L.] Bishop,
Brown and Samuelson sit.)

Samuelson: For the first question on your advanced theory oral:
Who was the greatest economist of all time?
Bishop (After much thought) Pigou…

Music

[Morris] Adelman: It is written: when offer curve bend backwards, then is time to send [Walt] Rostow to Texas.
[For background to Rostow Affair, see Appendix below]

Music—through

[Matthew D.] Edel (carries sign) “Economics is a dismal science”

([Peter] Temin and [Duncan] Foley enter as Rowan and Martin)

Foley: It certainly was a swell idea to put on a faculty laugh-in.
Temin: It’s so much easier than thinking up a connected skit.
Foley: Well, what cute laugh-in type feature do we have coming up next?
Temin: I see by my script here that we’re going to have a “Laugh-in looks at…” next.
Foley: Yes, it says: Faculty laugh-in looks at the new [Nixon] administration.

Music

[Jerome] Rothenberg: Washington: James Reston has expressed outrage at news reports that the University of Maryland has no plans to hire Spiro T. Agnew.
[Motivation for James Reston mention here see, Appendix “Rostow Affair” below]
Temin: Meanwhile at the Council of Economic Advisers, Republicans begin to grapple with the unaccustomed complexities of the Federal budget.

(enter Bishop and Foley)

Bishop: They always said Art Okun could do it with a pencil on the back of an envelope.
[See Appendix below]
Foley: I still think we’d better wait for the computer printout.
Bishop: No, look, its easy. Let’s see, how does it go? Is it Y = C + the deficit, or does the deficit = Y + C?

Music

Temin: At the same time we hear the swan song of liberals seeking sanctuary on college campuses.
Fisher: Song “Hey Dick [Nixon]”
[presumably to the tune of “Hey Jude”, lyrics to parody not in the file]
Rothenberg: Washington: the M.I.T. economics department has again startled Washington circles by announcing that it will not hire Henry Kissinger in 1972.
[cf. Appendix below on “Rostow Affair”]
Foley: Why don’t we just use their budget?
Bishop: And give up on the job? It can’t be that hard.
Foley: We don’t even have the computer printout yet.
Bishop: Doesn’t investment come in here someplace?

Music

Rothenberg: Washington: It has just been learned that the M.I.T. economics department, responding to the furor over the Rostow affair has abolished its economic history requirement.
[see Appendix below]

Music

(Man seated, knock on door: goes to answer, returns)

Adelman: Dear, Mr. Brower is here to fix the point (calling).
[Punny reference to Brower’s fixed-point theorem  that is a building block for the proof of the existence of a general equilibrium.]

Music—through

Edel (carries sign) “Pigou Power”

(Enter Bishop, Brown, Samuelson)

Brown: Describe an Edgeworth-Bowley Box.
Bishop: (gesturing) It’s about so wide…

Music

(Enter Foley and Temin)

Foley: What movie did you see last night?
Temin: “Thoroughly Modern Miltie”
[clearly “Milton Friedman”, the film’s title was “Thoroughly Modern Miltie”]

Music—through

Fisher (carries sign) “Nest principal minors”
[Linear algebra joke, written like a creepy, even pedophilic, command here, “nested principal minors” or “nest of principal minors” would be proper.]
Rothenberg: The negative definite is equivalent to the lie direct.
[Shakespeare As You Like It, V:iv in Appendix below]

Music

Foley: The computer printout is here!

(enter tons of printout)

Bishop: I think I’ve got it!
Foley: What?
Bishop: One of Okun’s envelopes. How old do you think this is anyway?

Music

Samuelson:

A Poem
by Paul A. Samuelson

Some people cover lots more ground
But no one handles the New York Times like Carey Brown.

[Likely another reference to the Rostow Affair, see Appendix Below]

Music

(Adelman seated, door knock)

Adelman: Dear, Mr. [Evsey] Domar is here to compare the systems.
[One of Evsey Domar signature courses was “Comparative Economic Systems”]

Music

Foley: What movie did you see last night?
Temin: Ride the high Pontry
[“Ride the High Country”, 1962 Western film by Sam Peckinpah]
Foley: What Pontry again?
[A punny reference to Pontryagin’s maximum principle in optimal control theory.]

Music

(Enter Bishop, Samuelson, Brown)

Brown: What was Marshall’s greatest contribution?
Bishop: In 1903, Marshall gave £1500 to King’s College.

Music

(Enter Fisher and Temin with box)

“2 squares least stage”
(sign)
[“2-stage least squares” is the name of statistical procedure, here Fisher and Temin are the two “squares“.]

Music

Adelman: Mark Hopkins said the ideal education is a professor and a student sitting on a log, with the professor talking to the student. I sometimes think I would get the same results sitting on the student and talking to the log.

Music

Bishop: Sock it to me

Music

(Enter Temin and Foley)

Temin: Here we are out here again imitating Rowan and Martin.
Foley: Shouldn’t you be standing on the other side? What now?
Temin: Now we’re giving the “Flying Fickle Finger of Fat Award” just like on TV.
Foley: And who gets the “Flying Fickle Finger of Fat Award”?
Temin: Fate. The Flying Fickle Finger of Fate Award goes to…

(Music cue—fanfare)

Temin: Kenneth Boulding for receiving a vote of confidence from…himself.
[Boulding gave his Presidential address to the American Economic Association a few weeks later on “Economics as a Moral Science”. For likely background to the joke see the Appendix below.]

Music

Fisher: A Bordered hessian is a German mercenary surrounded by continentals.

Music

Samuelson:

(carries sign) “I am an external economist.”

Music

Foley: What movie did you see last night?
Temin: “Closely watched brains”
[“Closely watched trains”, 1966 Czech film directed by Jiří Menzel]

Music

Foley: (Poring over computer printout). I think the whole idea of the budget is a stupid, dumb, stupid idea. Why do we even need a budget?
Bishop: Look, we’ve got to have something to send down to the Congress tomorrow.
Foley: I’m going to hold my breath until the stupid deficit comes out right.
Bishop: Just try to remember whether capital gains are part of income or not.

Music cue

(Enter Fisher, Temin, Edel)
“3 squares least stage”
(sign)
[“3-stage least squares” is a statistical procedure, and Fisher, Temin and Edel are the three “squares“.]

Music

Brown: The students are revolting.
Bishop: Yes, I’ve though so for a long time.

Enter Everybody

Rothenberg: SDS Sam
[SDS=Students for a Democratic Society…
(wild guess) impression of Bogart saying “Play it Again Sam”?]
Foley: Well, here we are out here again, and it’s time to say…
Temin: Long joke.
Foley: Say goodnite, Peter.
Temin: Goodnite, Peter.
Samuelson: Sock it to me.

Source: M.I.T. Archives.  Folder “GEA 1967-68”.

_________________________

Appendix

 

Rostow Affair

Source: Howard Wesley Johnson, Holding the Center: Memoirs of a Life in Higher Education. From Chapter 8, pp. 189-90.

*   *  *  *  *  *  *  *  *  *  *  *

 

Art Okun’s Reputation as an economic forecaster “on the back of an envelope”

Source: Joseph A. Pechman contribution for In Memoriam: Arthur M. Okun. November 28, 128–March 23, 1980 (Washington, D.C.: Brookings Institution, 1980), p. 14.

*   *  *  *  *  *  *  *  *  *  *  *

 

From Shakespeare’s As You Like It
Act V, Scene 4.

JAQUES

Can you nominate in order now the degrees of the lie?

TOUCHSTONE

O sir, we quarrel in print, by the book; as you have
books for good manners: I will name you the degrees.
The first, the Retort Courteous; the second, the
Quip Modest; the third, the Reply Churlish; the
fourth, the Reproof Valiant; the fifth, the
Countercheque Quarrelsome; the sixth, the Lie with
Circumstance; the seventh, the Lie Direct. All
these you may avoid but the Lie Direct; and you may
avoid that too, with an If. I knew when seven
justices could not take up a quarrel, but when the
parties were met themselves, one of them thought but
of an If, as, ‘If you said so, then I said so;’ and
they shook hands and swore brothers. Your If is the
only peacemaker; much virtue in If.

Source: From the Shakespeare homepage at M.I.T.

*   *  *  *  *  *  *  *  *  *  *  *

 

Kenneth Boulding’s Vote for AEA to Meet in Chicago in 1968

 

Source:  Robert Scott, Kenneth Boulding: A Voice Crying in the Wilderness (Palgrave Macmillan, 2014).

 

 

Categories
Bibliography Socialism Suggested Reading

League for Industrial Democracy. Updated syllabus on recent history of socialism. Laidler, 1922.

 

American colleges and universities have historically served as an important feeding ground for research and teaching of socialist political and economic ideas. Harry W. Laidler (b. 1884; d. 1970) was the junior among the founding fathers of the Intercollegiate Socialist Society (ISS) in 1905 who included Upton Sinclair and Jack London. Laidler, who received his Ph.D. in economics from Columbia University in 1914, headed the ISS and its successor organization, the League for Industrial Democracy, from 1914 until 1957. Counted among the membership were the University of Chicago economist, later Senator from Illinois, Paul H. Douglas,  the public intellectual Walter Lippmann (himself a member of visiting committees for the Harvard economics department) and the Harvard sociologist, Talcott Parsons.

Harry Laidler served as president of the National Bureau of Economic Research from 1930 to 1932 and from 1948 to 1949. He was the head of the NBER Board of Directors from 1932 to 1934. It may come as a surprise to many of those active in today’s NBER research networks that Laidler was a trusted confidante and campaign adviser of the Socialist Party candidate for the U.S. Presidency in 1928 and 1932, Norman Thomas. In other words, Laidler was sort of a fringe-establishment Bernie Bro and a life-long Brooklynite!

Laidler’s father was a salesman and he was raised by his uncle Theodore Atworth, who himself was a socialist and former president of the Photo Engravers Union. Laidler graduated from Wesleyan University in 1907, having earlier attended the newly established American Socialist College in Wichita, Kansas from 1903-1904. Before earning his doctorate in economics from Columbia, he graduated in 1910 with a law degree from Brooklyn Law School where he attended classes in the evenings while working as a reporter for the Brooklyn Eagle newspaper. Boycotts and the Labor Struggle was the subject of his 1914 doctoral dissertation, supervised by Professor Henry R. Seager. Over his career Harry Laidler wrote or edited some fifty books and pamphlets.  In his New York Times obituary his books Social-Economic Movements (1949) and The History of Socialism (1968) were named.

The Harry W. Laidler Papers are kept at the Tamiment Library and Robert F. Wagner Labor Archive of New York University’s Elmer Holmes Bobst Library.

The following pamphlet provides a very handy bibliographic guide to the enormous changes that took place in the socialist movements across the world in the aftermath of the Russian Revolution and the end of “The Great War”. It updates a 1919 pamphlet that was clearly superseded by subsequent events.

Pro-tip: The keyword “Socialism” links you to many other related artifacts here at Economics in the Rear-view Mirror.

______________________

RECENT DEVELOPMENTS IN SOCIALISM
with Bibliographies and Directory

COMPILED FOR THE
LEAGUE FOR INDUSTRIAL DEMOCRACY
70 FIFTH AVENUE, NEW YORK CITY

BY HARRY W. LAIDLER, PH.D.

Since the armistice of November, 1918, significant changes have taken place within the Socialist and labor movements of the world. At the time of the armistice, revolutions were sweeping Europe. The Russians were celebrating the first anniversary of their November revolution. Hungary was plunging into Communism. Germany and Austria were undergoing political revolutions; new republics, such as Czecho-Slovakia, were springing up almost daily. The Italian workers were in revolt. The Belgians were rejoicing in their new boon of equal suffrage. The Social Democrats were in control in Germany, Austria and Czecho-Slovakia, and exerted a strong influence in the cabinets of other countries. To many the only alternative to a Social Democratic Europe seemed to be a Communist Europe.

The Socialist and Communist offensive, however, spent it self—at least for the time being—and, during the last few years, a distinct capitalist and monarchist reaction has set in. These movements are far stronger than they were before the war, but, at present writing, they are distinctly on the defensive. Their position has been rendered ever more difficult by the numerous splits in their own ranks. The reaction is fortunately welding the workers together again and labor is now preparing to “come back” as the one great, constructive force to be found on the European continent.

These developments have had a profound effect on Socialist theory and tactics. They have given world-wide circulation to the doctrines of Bolshevism or the newer communism, and have brought to the fore the conflict between the ideals of democracy and dictatorship and those of parliamentary representation and Sovietism.

In February, 1919, the Intercollegiate Socialist Society, the predecessor of the League for Industrial Democracy, published a pamphlet, “Study Courses in Socialism”, briefly outlining the developments of the movement to that period.*

The present pamphlet is an attempt to supplement the 1919 publication and bring it up-to-date. It is prepared primarily for college discussion classes, but may be of interest to the general reader.

_______________

*The League has a few more of these pamphlets in stock, for use in study classes. This former pamphlet is rather a detailed syllabus of the theory and practice of the movement until the close of the war.
_______________

THE INTERNATIONALS.

Prior to the World War Socialists of Europe were united in the Second International. The war split this body into two or more hostile camps. It was some months before any conference was called among the Socialists of different nations. In the beginning of 1915, demands that the Socialists act in behalf of peace began to make themselves heard and during the next few years frequent conferences were held by comrades of the allied and neutral nations for the purpose of considering the best way of bringing about an early peace. The 1918 Inter-Allied Socialist conference denounced all imperialistic designs of the warring countries, favored the principle of self-determination, and condemned the idea of an economic war after the peace. The one group of Socialists including in their conferences, comrades from both the Allies and the Central Powers were the “Zimmerwaldians”, most of them extreme, anti-war Socialists. These conferences were in a sense the forerunners of the Third International.

During the war, differences of opinion arose regarding the relation of labor to the warring governments, and later concerning the tactics adopted by the Russian Bolsheviks. With the coming of peace, these differences gave rise to the formation of a number of “internationals” bitterly opposed to one another.

  1. The moderate Socialists who, for the most part, had supported their respective governments during the war, remained in the Second International. These included the British and Belgian Labor parties, the German Social Democratic party, the Swedish Socialists and similar groups.
  2. Those Socialists who had taken a more militantly anti-war position, but who refused to commit themselves to the Bolshevik tactics, formed the so-called “Vienna” or “Second-and-a-Half” International. Under the banner of this organization were included the Austrian and Swiss Social Democracies, the British Independent Labor party, the German Independent Socialists, the French Socialists, and, more recently, the American Socialist party.
  3. The Russian Bolsheviks formed the Third International. The Bolsheviks agreed with the members of the Vienna group in their anti-war position. They differed, however, in their advocacy of the “dictatorship of the proletariat”, of the Soviet form of government, and of immediate social revolutions throughout Europe through the employment of Bolshevik tactics. The last demand was based upon the belief that the European masses were ready for revolution and were waiting only for the leadership of a determined revolutionary minority; furthermore, that only through social revolution in western and central Europe could the fruits of the Russian revolution be preserved. The Third International, organized in Moscow in March, 1919, was dominated almost entirely by the Russian Bolsheviks. The chief members of the party outside of Russia were the French and German communists.
  4. A small group of communists in Germany, England, Holland and one or two other countries formed, in 1921, a Fourth International, in the belief that the Third had become the agent of the compromising Russian government, and could no longer lead the revolution.

A split also developed within the trade union movement of Europe with the organization of the “Red” Trade Union International, as opposed to the “Amsterdam” International Federation of Trade Unions—the latter still representative of the great mass of organized workers outside of Russia.

The formation of communist parties in the various European countries failed to produce the hoped-for revolution. Instead, the spasmodic and often ill-advised rebellions of the communists, the weakened condition of the movement as a result of its internal fights, the intense period of unemployment and the war-weariness of the masses, gave added impetus to the forces of reaction. The unexpected strength of this reaction, among other forces, led “Moscow” to demand that the European workers join once more in a “united front”. During the Spring of 1922, the three Internationals sought some method of federation, but conferences looking to that end were unsuccessful. Present indications point to a union of the Second and Vienna Internationals within the next few months and to a more gradual rapprochement with the Communist International.

EUROPEAN COUNTRIES.

During the last two years, the European Socialists have been engaged largely in defensive warfare.

The British Labor party during 1920–22 gained a number of seats in by-elections and entered the November General Elections with a representation of about 74 in the House of Commons. This was increased as a result of the elections of 1922 to about 140 seats, thus making Labor the second party in the country. In Sweden, the leader of the Swedish Socialists, Branting, was chosen Premier.

In Germany, the Independent Socialists split, a strong minority forming a communist party. The failure of the March “putsch” of 1921 greatly weakened this party, and, at present writing, its influence is waning. The Independent Socialists, in the early fall of 1922, joined forces again with the Majority Socialists, thus forming the most powerful single party in the country. The United Social Democratic party (the new consolidated party) and the communists control over 40 per cent of the seats in the Reichstag. President Ebert, the moderate Social Democratic president, will retain office, as a result of a recent vote in the Reichstag, until 1925. The Socialists and trade unionists in 1920 crushed, largely by means of a general strike, the attempt of Kapp to place the monarchists in power. Many prominent Socialists, including Hugo Haase, were assassinated during the course of the reaction by the bullets of their opponents. While the socialists are at present represented in the Wirth cabinet, they are not as yet in the majority.

Since the social revolution of November, 1917, in Russia, the Soviet government has been compelled to give its main attention to fighting foes without and within. During the last year, on account of insurmountable obstacles confronting a thorough going communist industrial order, they have adopted a new economic policy, and have granted extensive concessions to private owners. They have, however, retained in governmental hands the main industries of the country. Chief attention has of late been directed to the opening up of commercial relations with other countries.

Following the World War, the Italian Socialists won a notable victory, increasing their representation from between 70 and 80 to 156—about one-third the entire parliamentary representation. In the summer and early fall of 1920, during a strike of the metal workers, factories were seized throughout the country, employers were ousted and the metal workers proceeded for a short period to run industry. Later they com promised and returned the factories to their original owners. This action gave to Mussolini, former Socialist, and his followers, the ultra-nationalistic Fascisti, an excuse for a relentless campaign of violence against the Socialist, trade union and cooperative movements. The split of the movement into the Socialist and communist branches further weakened the radicals and whetted the enthusiasm of the Fascisti.

In the 1921 elections Socialists and communists elected 125 representatives, despite the Fascisti terrorism at the polls. Since then scores of labor groups have joined the Fascisti movement, which is now in part a nationalistic syndicalist movement, and the Fascisti have become the undisputed rulers of Italy. Whether it will have to make great concessions to the masses in order to keep their allegiance, or will be the tool of the reaction until driven from power, it is too early to say.

The French Socialists also split, following the war, into the Communist party, the majority group, and the Socialist party. The communists have at present the larger party membership, though the French Socialist party has the greater number of adherents in the Chamber of Deputies. The two parties are represented in the Chamber of Deputies by between 60 and 70 seats, as against 101 prior to the war. The trade union movement has been greatly weakened in recent years.

The 1921 election of the Belgian Labor party gave that party some 66 seats in the lower house and over 40 in the senate. Before the war there were 40 in the house and a mere handful in the senate. Belgium now enjoys universal and equal manhood suffrage.

The Socialists in Austria and Czecho-Slovakia were in power immediately after the revolution, but, as a result of the split, later became minority forces. The Austrian Social Democracy controls between 35 per cent and 40 per cent of the seats in the national chamber. The Czecho-Slovakian Social Democratic party is represented also in the cabinet by several members. In Hungary, Jugo-Slavia and Rumania, the reactionary governments have done their best to suppress the radical movements in their respective countries.

While in the large majority of the European countries, the working class political movements are proportionately far more influential than in 1914, they have, for the most part, been compelled to mark time during the past two years, and in a number of instances have retrogressed. Between 1914 and 1920 the trade union movement more than doubled in numbers. The past year of unemployment and reaction has caused a consider able loss in membership, due in part to economic depression and unemployment, in part to the pressure of the reaction, and in part to excesses and to dissensions within the ranks of labor.

THE UNITED STATES.

The Socialist movement in the United States during and after the war was profoundly influenced by the political and economic currents abroad. Throughout the war the Socialist party maintained a consistent anti-war attitude. In the latter part of 1917 this position led to a considerable increase in its membership. As the war advanced, however, and the government began its prosecutions, the party membership and the party votes decreased.

During the early part of 1919, opposition manifested itself within the party on the ground that its anti-war position had not been militant enough and that it had failed to adopt the tactics of the Russian Bolsheviks. This opposition at first organized itself into a distinct “Left Wing” within the Socialist party. A portion of the Left Wing, composed largely of the Russian federations, broke away from the party during the spring and summer of 1919, and in the fall of that year formed the Communist party. Another portion seceded from the party during the fall convention in Chicago, and organized a Communist Labor party—the chief difference between the Communist party and the Communist Labor party being the dominance in the former of the Russian group. The Communist Labor party later amalgamated with the non-Russian elements in the Communist party. forming the United Communist party.

In the meanwhile many leaders in these organizations were arrested under State syndicalist laws and sentenced to prison. The party headquarters were entered, the literature and other property confiscated or destroyed. “Agents provocateurs” were hired to spy on the members and no stone was left unturned in an effort to suppress the “red peril”.

These parties were thus compelled to function, in part at least, as “underground” organizations. One of the charges which the remnants of the Communist party made against the United Communist party was that the latter made no guaranty in its constitution that it would remain underground. They claimed that it might at any moment come out as an open-and above-board group.

In the meanwhile another Left Wing group was developing within the Socialist party. After the Socialists had refused to join the Third International, this group likewise seceded, joined hands in the late fall of 1921 with various communist elements and formed a “legal communist party”, known as the Workers’ party.

Bereft of its left-wingers, the Socialist party—now greatly reduced in membership—sought an alliance with other groups. In February, 1922, it sent representatives to a conference called by some of the leaders of the railway brotherhoods, and unofficially assisted in launching the rather loose organization known as the Conference for Progressive Political Action.

In New York State, the party participated, in the summer of 1922, in the formation of the American Labor party, consisting of a number of trade unions, the Farmer–Labor party and the Socialist. The American Labor party was modeled somewhat after the British Labor party. The party is now strongest in Wisconsin, where it elected Victor L. Berger to Congress in the November, 1922, elections, and controls the office of mayor in Milwaukee.

Another Labor party was formed in Chicago in 1919, and in the succeeding year, as the Farmer–Labor party, nominated a presidential ticket headed by Parley Parker Christensen, and secured 265,411 votes, as compared with 919,799 obtained by Eugene V. Debs, the Socialist party candidate, then, in prison. Other radical or progressive movements functioning during the past few years have been the National Non-Partisan League, which, at times, completely controlled the State of North Dakota; and the Committee of Forty-eight, which has recently helped in the organization of several Liberal parties, primarily in the western states. The November, 1922, elections which sent to the U. S. Senate Shipstead, representing the Farmer-Labor party in Minnesota, Frazier, of the North Dakota Nonpartisan League, Brookhart of Iowa, Dill of Washington, La Follette of Wisconsin, etc., and that elected Sweet to the governorship of Colorado, is indicative of the wide-spread dissatisfaction existing with the conservative group in the old parties, a dissatisfaction which seems likely ultimately to express itself in a powerful labor and farmer party.

 

BIBLIOGRAPHY ON “POST-WAR DEVELOPMENTS.”

The Internationals: Laidler, “Socialism”, etc., pp. 283-307; Dutt, “The Two Internationals” (London, Labour Pub. Co.); Labour Research Department, “International Labour Handbook” (London, Labour Pub. Co.); Rand School, “American Labor Year Book,” 1919-20, p. 311-20; 1921-22 (N.Y., Hanford Press); Postgate, “Workers’ Internationals” (N.Y., Harcourt, 1920). Zimand, “Modern Social Movements,” p. 127; Lenin, “The Collapse of the Second International,” (Glasgow, Socialist Labor Press). See also files of Labour Monthly, Labor Age, The Nation, Current History, Socialist Review.

Russia.—(1) Bibliography: Zimand, “Modern Social Movements” (N.Y., H. W. Wilson, 1921), pp. 231-251; Clark, Evans, “Facts and Fabrications About Soviet Russia” (N.Y., Rand School, 1920; pamphlet); International Labor Office, Bibliography on Russia, 1920; Bloomfield, in selected articles on Modern Industrial Movement, 1919.

(2) Descriptive: Brailsford, “Russian Workers’ Republic” (N.Y., Harper, 1921); Ransome, “Russia in 1919” (N.Y., Huebsch, 1919); Williams, Albert Rhys, “Through the Russian Revolution” (N.Y., Boni & Liveright, 1921); Goode, “Bolshevism at Work” (N.Y., Harcourt, 1920); Russell, Bertrand, “Bolshevism, Practice and Theory” (N.Y., Harcourt, 1920, Pt. 2); Humphries, “The Structure of Soviet Russia” (Chicago, Kerr, 1920; pamphlet); Hard, William, “Raymond Robins’ Own Story” (N.Y., Harper, 1920); Price, Phillips, “The Old Order in Europe and the New Order in Russia,” (N Y., Soc. Pub. Soc.); Labour Party Delegation, “British Labor Delegation to Russia 1920” (London, Labour Party); Wells, H. G., “Russia in the Shadows” (N.Y., Doran, 1921); Ross, “Russia in Upheaval” (N.Y., Century, 1918); Lansbury, “What I Saw in Russia” (N.Y., Boni & Liveright, 1920); Bullitt, “The Bullitt Mission to Russia” (N.Y., Huebsch, 1919); McBride, “Barbarous Soviet Russia” (N.Y., Seltzer, 1920); Bullard, “The Russian Pendulum” (N.Y., Macmillan, 1919); Williams, A. R., “Lenin, the Man and His Work” (N.Y., Seltzer, 1919); Leary, “Education and Autocracy in Russia” (Buffalo, Univ. of Buffalo, 1919); Lomonossoff, “Memoirs of the Russian Revolution” (N.Y., Rand School, 1919; pamphlet); Albertson, “Fighting Without a War” (N.Y., Harcourt, 1920); Buxton, “In a Russian Village” (London, Labour Pub. Co., 1922); Hunt, A. R., “Facts About Communist Hungary” (N.Y., People’s Print, 1919); Brailsford, H. N., “Across the Blockade” (N.Y., Harcourt, 1919); Heller, “Industrial Revival in Soviet Russia” (N.Y., Seltzer, 1922); Masaryk, “The Spirit of Russia” (N.Y., Macmillan, 1918); Foster, “The Russian Revolution” (Chicago, Trade Union Educational League, 1922).

(3) Documentary: “Decrees and Constitution of Soviet Russia,” Reprinted from The Nation; Magnes, “Russia and Germany at Brest-Litovsk” (N.Y., Rand School, 1919); Gumming and Pettit, “Russian-American Relations” (N.Y., Harcourt, 1920); U.S. State Department, “The Second Congress of the Communist International” (Washington, Government Printing Office, 1920); “Education and Art in Soviet Russia” (N.Y. Socialist Pub. Soc.; pamphlet); Files of The Nation, Class Struggle, Socialist Review, Labour Monthly, etc.

Great Britain. Zimand, “Modern Social Movements”, pp. 168-173; Gleason, “What the Workers Want” (N.Y., Harcourt, 1920); Laidler, “Socialism”, etc., pp. 409-20; Labour Research Department, “International Labour Handbook”, pp. 252-258; Thomas, “When Labour Rules” (London, W. Collins Sons & Co., 1920); Webb, “Constitution for the Socialist Commonwealth of Great Britain” (N.Y., Longmans, 1920); Stewart, “J. Keir Hardie” (London, I.L.P., 1922); Macdonald, “A policy for the Labour Party” (London, Leonard Parsons, 1920); Files of Labour Monthly, Labor Age, Socialist Review, etc.

Continental European Countries, Outside of Russia.—Zimand, “Modern Social Movements”, pp. 160 seq.; Labour Research Department, “International Labour Handbook”, 1919-1920; Young, “The New Germany” (N.Y., Harcourt, 1920); Dannenberg, “Revolution in Germany” (N.Y., Radical Rev. Pub. Assn., 1919); Matthaei, “Germany in Revolution” (N.Y., Harcourt, 1920); Zimand, “German Revolution and After”, in Intercollegiate Socialist, April-May, 1919; Beard, “Cross Currents in Europe Today” (Boston, Marshall Jones Co., 1922); Files of Socialist Review (Dec., 1919, to April-May, 1921); Labor Age (Nov., 1921); The Nation, Labour Monthly, Liberator, Current History, etc.

The United States. Benedict, “The Larger Socialism”; Laidler, “Socialism”, etc., pps. 454-474; in The Socialist Review, “Present Status of Socialism in America”, Jan., 1920; Socialist Party of the U. S., “Political Guide for the Workers” (Chicago, Soc. Pty., 1920); Solomon, Charles, “Albany Trial” (N.Y., Rand School, 1920); Hillquit, “Socialism on Trial” (N.Y., Huebsch, 1920); Karsner, “Debs: His Authorized Life” (N.Y., Boni & Liveright, 1919); Zimand, “Modern Social Movements”, p. 177ff; Rand School, “American Labor Year Book”; see files of The Nation, Labor Age, Liberator, etc.; Russell, C.E., “The Story of the Non-Partisan League” (N.Y., Harper & Bros., 1920); National Non-Partisan League, “Origin, Purpose and Method” (St. Paul, Nat. Non-Partisan League); Gaston, H.E., “Non-Partisan League” (N.Y., Harcourt, 1920).

 

BOLSHEVISM.

Bolshevism or modern communism differs from Socialism not so much in the ends to be attained as in the means used to attain these ends. The ultimate aim of the Bolshevists is similar to that of the Socialists, a system of industry socially owned and democratically managed for the common good. Bolsheviks contend, however, that labor cannot depend upon the ballot or upon political democracy as a means to that goal. If labor had to wait until it elected a majority of representatives to a national legislature, it would, in most countries, contend the Bolsheviks, take many weary years, especially in view of the corrupting power of the press and other forces of public opinion. And even after labor had attained a majority of seats, there still would be no guarantee that the labor representatives would undertake to socialize industry.

The Bolshevik method of procedure is to organize the intelligent, aggressive, militant minority of the working class population for revolutionary action. Efforts should be made toward this end particularly in “strategic” or “key” industries such as the railroads, telegraphs, telephones, electric lights, mines, etc., as well as in the army and navy. The members of these revolutionary groups, Bolsheviks say, should be subjected to strong discipline. Local groups should give implicit obedience to central committees of action, and should do their best to permeate the rank and file of labor with the Bolshevik philosophy.

At a favorable moment, they should begin a concerted effort for the capture of the government. The army and navy or important portions of it should be swung into the ranks of the revolutionists. The agencies of transportation and communication and the public press should be seized, and utilized in behalf of the revolution; old officials should be ousted; the old democratic forms abolished, and Soviets of workers, peasants and soldiers should supplant representative legislatures.

According to Bolshevik tactics, this capture of the state should be succeeded by a “dictatorship of the proletariat”. In establishing this dictatorship, the workers should disfranchise non-producers, extending the right to vote only to workers. The farming population should be represented, but should have proportionately a smaller representation than has the city worker. Opposition papers should be temporarily suppressed; counter-revolutionary movements put down with an iron hand, and the Soviets should proceed immediately upon a comprehensive program of socialization. Side by side with this action, an international of the workers should be formed for the purpose of stimulating immediate revolution in other countries. Following the transition period, freedom of discussion should be restored and, with the elimination of parasitism, the franchise should again be made practically universal.

The Soviet form of government, as advocated by the Bolsheviks, is pyramidal in form. Groups of workers in local districts elect delegates to the local Soviets; these delegates, in turn, elect representatives to the provincial Soviets and the latter chose the representatives to the All-Russian Congress of Soviets. The national congress elects a central executive committee of 200. This executive committee chooses the Commissars, which constitute the most important administrative body. The Commissars are in charge of foreign affairs, education, finance, justice, etc. The economic functions are centralized in the Supreme Economic Council, a cabinet department whose membership of 69 consists of 30 representatives from industrial unions, 20 from regional councils, 10 from the central executive committee, 7 from the council of peoples commissaries, and 2 from cooperatives.

The original Bolshevik tactics have been considerably modified during the past few years, owing largely to the failure of social revolutionary movements in other parts of Europe, and to the fact that the peasants, who constitute the great majority of the population, had to be conciliated. The Bolsheviks have recently granted an increased measure of free discussion to their opponents, have brought numerous non-Bolshevik elements into the government, are granting to private employers the right to own and operate certain industries and are leasing out other industries to private managers.

The critics of Bolshevism maintain that the Bolsheviks erred in basing their tactics so largely on the assumption that revolutions were about to break out in other European countries; in adopting anti-social means, such as violence, to attain social ends; in assuming that such a semi-feudalistic system as existed in Russia could be transformed at a single step into a cooperative commonwealth, and that a highly centralized and comparatively inexperienced Soviet government, after thus socializing the entire industrial structure, could run this structure efficiently; in failing adequately to consider the economic beliefs and the potential power of the large mass of slowly moving peasants; in excluding from the government the non-Bolshevik revolutionary elements; in failing to bring to its aid from the very beginning the technicians and other intellectual forces of the community; and in trying to superimpose upon the labor movements of other countries tactics which may have been necessary and desirable in a semi-feudal, agricultural country like Russia, but which are not adaptable to countries with a widely different economic, social and political background.

The recent change in front of the Soviet government indicates that the Bolsheviks themselves now admit, at least in part, the justice of many of these criticisms.

Socialist, critics of the Bolsheviks, however, maintain that much of the present distress in Russia today is due largely to the blockade and to the fact that the Bolsheviks were compelled to divert most of their attention from economic reconstruction to military operations against internal and external forces that were assisted with money and ammunition supplied by the capitalist governments of Western Europe.

Socialists maintain that the Russian government should be immediately recognized, and that all trade restrictions with Russia should be removed. Russia is now a great laboratory of economic experimentation. The world should know the value of this experiment to economic progress. But it is impossible to know what elements in this experiment may be valuable, what elements should be discarded, unless Russia is given a free hand to work out its own destiny.

It must be added that the success or failure of Bolshevism in a country like Russia proves little regarding the probable success of social ownership in a country where economic and social conditions are more advanced

(1) Favoring: Postgate, “The Bolshevik Theory” (N.Y., Dodd, Mead & Co., 1920); Lenin, “The State and Revolution” (London, Socialist Labour Press); Paul, Eden and Cedar, “Creative Revolution” (London, Geo. Allen & Unwin, 1920); Marchand, Rene, “Why I Support Bolshevism” (London, British Socialist Party); Litvinoff, “The Bolshevik Revolution—Its Rise and Meaning” (Chicago, Socialist Party, 1920); Kameneff, “The Dictatorship of the Proletariat” (London, Communist Party of Great Britain; pamphlet); Lenin, “Will the Bolsheviks Maintain Power?” (London, Labour Pub. Co., 1922); Lenin, “The Land Revolution in Russia” (London, Indep. Labour Party, 1919; pamphlet); Lenin, “Left Wing” Communism (London, Communist Party); Lenin, “The Soviets at Work” (N.Y., Rand School, 1918; pamphlet); Lenin, and Trotsky, “Proletarian Revolution in Russia” (N.Y., Communist Press, 1918); Trotsky, “From October to Brest-Litovsk” (Brooklyn, N.Y., Soc. Pub. Soc., 1919); Trotsky, “A Defence of Terrorism”; Losovsky, “The International Council of Trade and Industrial Unions” (N.Y., Union Pub. Co.; pamphlet); Trotsky, “Dictatorship vs. Democracy” (N.Y., Workers’ Party, 1922).

(2) Critical of: Russell, Bertrand, “Bolshevism; Practice and Theory” (N.Y., Harcourt, Brace & Co., 1920, Part 2); Kautsky, “Dictatorship of the Proletariat” (Girard, Ks. Appeal to Reason, 1920); Spargo, “Bolshevism” (N.Y., Harpers, 1919); Russell, C. E., “Bolshevism and the U. S.” (Indianapolis, Bobbs-Merrill Co., 1919); Walling, W. E., “Sovietism” (N.Y., Dutton, 1920); Kerensky, “Prelude to Bolshevism” (N.Y., Dodd, Mead & Co., 1919); Hillquit, “From Marx to Lenin” (N.Y., Hanford Press, 1921).

 

RECENT LITERATURE ON SOCIALIST THEORY.

“Study Courses in Socialism”, referred to above, mentioned the most important books published prior to 1919 on such phases of Socialism as Utopian Socialism, Marxism, Guild Socialism, etc., as well as on the facts of the present system. In the following pages we are adding to that list some of the most significant additions.

For thorough bibliographies on Socialism, Guild Socialism, Syndicalism, Bolshevism, and other fundamental social solutions, together with summaries of these movements, the student’s attention is called to the recent volume by Savel Zimand’s “Modern Social Movements, published 1921 by the H. W. Wilson Company ($1.00; 260 pages). No group should be without this invaluable guide to social literature the most comprehensive volume of its kind in any language. This volume also contains bibliographies on the trade union movement, cooperation, copartnership, national industrial councils, single tax, anarchism, etc.

May we add to the list of text books presented in our former syllabus, Laidler’s “Socialism in Thought and Action”, published by Macmillan Company in 1920 ($2.60; 574 pages), and used as a text book in more than a score of colleges. This book follows the general outline of the syllabus and describes Socialist development up to January, 1920. Beer’s “History of British Socialism”, in two volumes is the most important contribution of the period to Socialist history. (Published by Harcourt, Brace & Howe). Additions to the literature on various phases of Socialist thought following the 1919 syllabus, include:

 

SECTION I INDICTMENT OF CAPITALISM.

Recent Books: Chase, “The Challenge of Waste”, with bibliography on waste (L.I.D. pamphlet, 1922, 10 cents); Laidler, “Socialism in Thought and Action”, Chs. I-II; Committee of Federated American Engineering Societies (Hoover Engineers), “Waste in Industry” (Chicago, McGraw-Hill Co.); Bruere, “The Coming of Coal” (N.Y., Association Press);Archbald, “The Four-Hour Day in Coal” (N.Y., Harcourt, Brace & Co.); Page, “Industrial Facts” (N.Y., Doran, 10 cents); National Bureau of Economic Research, “The Income in the United States” (N.Y., Harcourt, 1921); Committee of Inquiry of Interchurch World Movement, “Report of the Steel Trust, 1920”, “Public Opinion and the Steel Strikes, 1921” (N.Y., Harcourt); Sinclair, “The Brass Check” (Pasadena, Cal., Sinclair); Veblen, “The Engineers and the Price System” (N.Y., Huebsch, 1921); Howard, “The Labor Spy” (N.Y., New Republic, 1921); Pettigrew, “Triumphant Plutocracy” (N.Y., Academy Press, 1921); Angell, “The Press and the Organization of Society” (London, Labour Pub. Co., 1922); Claessens, “The Trinity of Plunder” (N.Y., Academy Press, 1922); Nearing, “The American Empire” (N, Y., Hanford Press, 1921).

Attention is particularly called to Stuart Chase’s admirable pamphlet referred to above. It would be well for student groups to obtain a copy of this pamphlet for each of their members (special rates for students) and use it as the basis for discussion at one or more meetings. “Industrial Facts”, by Kirby Page, another 10 cent pamphlet, is also strongly urged for study classes. The most comprehensive study of waste is that of the Hoover engineers. The best study of the division of the national income is the National Bureau of Economic Research findings. A most interesting development of recent years has been the growing acknowledgment on the part of engineers and business men that the present way of doing business is exceedingly wasteful and inefficient.

 

SECTION II. UTOPIAN SOCIALISM.

Add: Zimand, “Modern Social Movements,” p. 149.

 

SECTION III. MARXIAN SOCIALISM.

Add: Hillquit, “Socialism from Marx to Lenin” (N.Y., Hanford Press, 1921); Laidler, “Socialism”, etc., Chs. III-IV; Zimand, “Modern Social Movements,” pp. 150-2; Loria, “Karl Marx” (N.Y., Seltzer, 1920); Beer, “The Life and Teachings of Karl Marx” (London, National Labour Press, 1921); Portus, “Marx and Modern Thought” (New South Wales, Workers’ Educational Association, 1921); Benedict, “The Larger Socialism” (N.Y., Macmillan, 1921); Le Rossignol, “What Is Socialism?” (Anti-Marxist), (N.Y., Crowell, 1921).

 

SECTION IV. THE SOCIALIST STATE.

Add: Webb, “A Constitution for the Socialist Commonwealth of Great Britain” (N.Y., Longmans, 1920); Laidler, “Socialism”, etc., Ch. V.; Glasier “The Meaning of Socialism” (N.Y., Seltzer, 1920); Rathenau, “The New Society” (N.Y., Harcourt, 1921); Hunter, “Why We Fail as Christians” (N.Y., Macmillan, 1919); Vandervelde, “Socialism vs. The State” (Chicago, Kerr & Co., 1919); Nearing, “The Next Step” (Ridgewood, N. J., The Author, 1922).

 

SECTION V. GUILD SOCIALISM AND SYNDICALISM.

Add: (1) Cole, “Guild Socialism (Restated)” (N.Y., Fred. Stokes, 1920); Hobson (S. G.), “National Guilds and the State” (N.Y., Macmillan, 1920); Reckitt and Bechhofer, “The Meaning of National Guilds” (Revised edition, N.Y., Macmillan, 1920); Zimand, “Modern Social Movements”, pp. 175-207. (2) Scott, “Syndicalism and Philosophic Realism” (London, A. C. Black, 1919); Laidler, “Socialism”, etc., Ch. VI; Zimand, “Modern Social Movements”, pp. 207-227.

The Guild Socialists of England during the last few years have been rent by a conflict between the communists, who emphasized the need of a strong, centralized state, at least during the transitional period, and those who emphasized decentralized producers’ control. Mr. Cole, the leading figure in the movement, has gradually swung around to the point of view that the guildsmen erred in working out their future state in too great detail. The Orage group in the movement is giving increasing attention to the transformation of the credit system.

 

SECTION VI. TENDENCIES TOWARD SOCIALISM.

Add: Zimand, “Modern Social Movements”, pp. 5-113; Laidler, “Socialism”, etc., Ch. VII; Goodrich, “The Frontier of Control” (N.Y., Harcourt, 1920); Chiozza-Money, “The Triumph of Nationalization (London, Cassell, 1920); Savage, “Industrial Unionism” (N.Y., Button, 1922); Webb, “Consumers’ Cooperative Movement” (N.Y., Longmans, 1922); Woolf, “Cooperation and the Future of Industry” (London, Geo. Allen & Unwin, 1919); Sennichsen, “Consumers’ Cooperation” (N.Y., Macmillan, 1919); Redfern, “The Consumer’s Place in Society” (Manchester, Cooperative Union, 1920); Gleason, “What the Workers Want” (N.Y., Harcourt, 1920); Beer, “History of Socialism” (N.Y., Harcourt, Vol. 2, pp. 363-72, 1920); Howe, “Denmark, A Cooperative Commonwealth” (N.Y., Harcourt, 1921); Nationalization Research Committee, United Mine Workers, “How to Run Coal” (N.Y., Bureau of Industrial Research, 1922); Hodges, Frank, “Nationalization of the Mines” (London, Leonard Parsons, 1920); Foster, “The Railroaders’ Next Step” (Chicago, Trade Union Educational League, 1922); Baker, “The New Industrial Unrest” (N.Y., Harpers, 1920).

The Workers’ Council Movement in Europe is one of the most significant of post-war developments. In this country among the most important steps toward industrial democracy are the gradual emergency of a labor-farmer party, the demand of the miners for social ownership of the mines, the growth of labor banking, labor education, labor research and a labor press service and the increased hold of consumers’ cooperation on the masses.

 

SECTION VII. OBJECTIONS TO SOCIALISM.

Add: Hobson, “Incentives in the New Industrial Order” (N.Y., Seltzer, 1922); Dell, “Socialism and Personal Liberty” (N.Y., Seltzer, 1922); Laidler, “Socialism,” etc., Ch. VIII; Glasier, “The Meaning of Socialism”; Boucke, “Limits of Socialism” (N.Y., Macmillan, 1920).

 

SECTION VIII. DEVELOPMENT OF MODERN SOCIALISM.

Add: Postgate, “The Workers’ Internationals” (N.Y., Harcourt, 1920); Beer, “History of British Socialism”, 2 Vols. (N.Y., Harcourt, 1919-1921); Laidler, “Socialism”, etc., Pt. II; Hillquit, “From Marx to Lenin” (N.Y., Hanford Press, 1921); Files of Socialist Review, Dec., 1919-April, May, 1921; Labour Herald, .Labor Age, Nov., 1921; Labour Monthly (British), August, 1921 to; Bulletin of U. S. Bureau of Labor Statistics, No. 268, “Historical Survey of International Action Affecting Labor” (Washington, U. S. Dept. of Labor, 1920).

 

SECTION IX. SOCIALISM AND THE GREAT WAR.

Add: Kellogg and Gleason; “British Labour and the War” (N.Y., Harcourt, 1919); Bevan, “German Social Democracy During the War” (N.Y., Dutton, 1919); Laidler, “Socialism”, etc., Chs. X-XIV; Zimand, “Modern Social Movements,” pp. 123 ff; Oneal, “Labor and the Next War” (Chicago, Socialist Party, 1922).

 

SECTION X. RECONSTRUCTION NATIONAL AND INTERNATIONAL.

Add: Gleason, “What the Workers Want” (N.Y., Harcourt, 1920); Hobson, “Problems of the New World” (London, George Allen & Unwin, 1921); Committee on the War and Religious Outlook, “The Church and Industrial Reconstruction” (N.Y., Association Press, 1920); Chiozza-Money, “The Triumph of Nationalization” (London, Cassell & Co., 1921); Ward, “The New Social Order” (N.Y., Macmillan, 1919); Villiers, “Britain After the Peace” (N.Y., Dutton, 1918); Carter (Editor), “Industrial Reconstruction,” a Symposium, (N.Y., Dutton, 1918); Nearing, “Irrepressible America”; Brailsford, “After the Peace” (London, Leonard Parsons, 1920); Turner, “Shall It Be Again?” (N.Y., Huebsch, 1922).

Unfortunately most of these reconstruction plans have thus far failed to materialize.

 

PARTIAL DIRECTORY OF SOCIAL AGENCIES.

American Labor Party, 3. W. 16th St., N.Y.C. A New York State party composed of trade unionists, Socialists and Farmer-Laborites.

American Association for Labor Legislation, 131 E. 23rd St., N.Y.C. Publishes monthly, “American Labor Legislation Review.”

American Civil Liberties Union, 100 Fifth Ave., N.Y.C. Distributes a weekly service on civil liberties and publishes numerous pamphlets.

American Federation of Labor, Federation Building, Washington, D.C. Publishes monthly, “American Federationist.”

American Federation of Teachers, 166 W. Washington St., Chicago, Ill.

Bureau of Industrial Research, 289 Fourth Ave., N.Y.C. Special research on reorganization of the coal mining industry. Publishes valuable pamphlets.

Church League for Industrial Democracy, 6140 Cottage Grove Ave., Chicago, Ill. Regular membership confined to members of the Episcopal Church.

Committee of Forty-eight, 15 East Fortieth St., N.Y.C. Seeks to crystallize progressive sentiment of the country into liberal party.

Conference for Progressive Political Action, Machinist Building, Washington, D. C. Formed by the railway brotherhoods, machinists, etc. Contains representatives of the Socialist, Farmer-Labor and other parties. Seeks to work out a program of effective political action in behalf of labor.

Co-operative League of America, The, 167 W. 12th St., N.Y.C. Central education bureau of consumers’ cooperative movement of America. Publishes monthly, “Co-operation” and pamphlets on cooperation.

Farmer-Labor Party, 166 W. Washington St., Chicago, Ill.

Farmers’ National Council, Bliss Building, Washington, D. C. A progressive organization of “dirt” farmers.

The Federated Press, 511 N. Peoria St., Chicago, Ill. Labor press bureau supplying daily news service to more than 100 labor papers. Also issues weekly service.

Fellowship of Reconciliation, 396 Broadway, N.Y.C. Stresses the ethical aspects of pacifism and of industrial reorganization.

Friends of Soviet Russia, 201 W. 13th St., N.Y.C. Organized for relief work for Russia. Publishes monthly, “Soviet Russia.”

Industrial Workers of the World, 1001 W. Madison St., Chicago, Ill. Publishes weekly, “Solidarity”, and pamphlets.

International Relation. Clubs, 419 W. 117th St., N.Y.C. College section of the Institute of International Education, formed to throw light on international problems.

The Labor Bureau, Inc., 1 Union Square, N.Y.C. Formed to supply trade unions with statistical information and advice.

League for Industrial Democracy, 70 Fifth Ave., N.Y.C. Object: “Education for a new social order based on production for use and not for profit.” Works within and without the colleges. Publishes literature, schedules lecturers, conducts research, publicity, etc.

National Association for the Advancement of Colored People, 70 Fifth Ave., N.Y.C. Publishes monthly, “The Crisis.”

National Bureau of Economic Research, 465 W. 13th St., N.Y.C. An impartial fact-finding agency. Has published valuable material on distribution of incomes, unemployment, business cycles, etc.

National Council for Prevention of War, 532 Seventeenth St., N.W., Washington, D.C.

National Consumers’ League, 44 E. 23rd St., N.Y.C. Has specialized on labor legislation for women.

National Student Forum, 2929 Broadway, N.Y.C. Seeks to stimulate students to investigate all phases of public questions.

National Women’s Trade Union League, 311 S. Ashland Blvd., Chicago, Ill.

Nationalization Research Committee, United Mine Workers of America, Merchants’ Bank Building, Indianapolis, Ind.

National Non-Partisan League, St. Paul, Minn.

People’s Legislative Service, Southern Building, Washington, D.C. Seeks to keep the country informed regarding federal legislation.

Public Ownership League of America, 127 N. Dearborn St., Chicago, Ill. Publishes monthly, “Public Ownership,” and pamphlets. Specializes on question of municipal and federal ownership.

Rand School of Social Science, 7 E. 15th St., N.Y.C. The Rand Book Store, connected with the school, has the best equipment of books on industrial democracy of any store in the country.

Research Bureau, Social Service Commission of the Federal Council of Churches of America, 105 E. 22nd St., N.Y.C. A research and publicity organization among the churches on social and labor problems.

Social Service Committee of Methodist Church, 150 Fifth Ave., N.Y.C. Research and publicity service.

Socialist Party, 2418 W. Madison St., Chicago, Ill. Publishes weekly, “The Eye Opener”, monthly, “The Socialist World”, and book and pamphlet literature.

Trade Union Educational League, 118 N. LaSalle St., Chicago, Ill. Seeks to promote program of industrial unionism. Publishes monthly, “Labor Herald”, and pamphlets.

Workers’ Education Bureau, 465 W. 23rd St., N.Y.C. Central bureau of the American workers’ educational movement. Publishes text-books and pamphlets.

The Workers’ Party, 799 Broadway, N.Y.C. The “above-ground” communist party of America. Weekly journal, “The Worker”.

Women’s Peace Society, 505 Fifth Ave., N.Y.C.

Women’s Peace Union of the Western Hemisphere, 70 Fifth Ave., N.Y.C.

 

Among the progressive and radical journals not listed above are:

Monthlies: “Labor Age”, 41 Union Square, N.Y.C.; “World Tomorrow”, 396 Broadway, N.Y.C.; “The National Leader”, 427 Sixth Ave., S. Minneapolis, Minn.; “Locomotive Engineers’ Journal”, B. of L.E. Building, Cleveland, Ohio; “Machinists’ Monthly Journal,” Machinist Bldg., Washington, D.C.; “Survey Graphic”, 112 E. 19th St., N.Y.C.; “Liberator”, 138 W. 13th St., N.Y. C.; “Arbitrator”, 114 E. 31st St., N.Y.C.

Weeklies: “The Nation”, 20 Vesey St., N.Y.C.; “New Republic”, 421 W. 21st St., N.Y.C.; “The Survey”, 112 E. 19th St., N.Y.C.; “New Majority”, 166 W. Washington St., Chicago, Ill.; “The Searchlight”, Woodward Bldg., Washington, D.C.; “Labor”, Machinist Building, Washington, D. C.; “The Freeman”, 116 W. 13th St., N.Y.C.; “Justice” (organ of International Ladies’ Garment Workers’ Union), 3 W. 16th St., N.Y.C.; “Advance” (organ of Amalgamated Clothing Workers), 31 Union Square, N.Y.C..

Labor Dailies: “N.Y. Call”, 112 Fourth Aye., N.Y.C.; “Milwaukee Leader”, Brisbane Bldg., Milwaukee, Wisconsin; “Minneapolis Daily Star,” 427 Sixth Ave., Minneapolis, Minn.; “Seattle Record,” Seattle, Washington.

 

The following publishers have devoted very considerable attention to labor and socialist literature:

Chas. H. Kerr & Co., 341 E. Ohio St., Chicago, Ill.; Hanford Press, 7 E. 15th St., N.Y.C.; Academy Press, 112 Fourth Ave., N.Y.C.; Bureau of Industrial Research, 289 Fourth Ave., N.Y.C.; Thos. Seltzer, 5 W. 50th St.; Macmillan Co., 64 5th Ave., N.Y.C.; Harcourt, Brace & Co., 1 W. 47th St., N.Y.C.; B. W. Huebsch, 116 W. 13th St., N.Y.C.; Boni & Liveright, 105 W. 40th St., N.Y.C.

 

ORGANIZATIONS AND PUBLICATIONS ABROAD.

International Labour Office, Geneva, Switzerland (also 7, Seamore PL, Curzon St., London, W.I. Eng.). The labour bureau of the League of Nations. Publishes a comprehensive monthly, “The International Labour Review”, and a large number of studies on various aspects of the labour movement.

International Cooperative Alliance, 4 Great Smith St., Westminster, London, Eng. The central organization of the international consumers’ movement. Publishes monthly, “The International Cooperative Bulletin”.

The International Federation of Trade Unions, 61 Vondelstraat, Amsterdam, Holland. The federation containing most of the trade unions of the world outside of those in Russia and the United States. Publishes monthly, and supplies a news service.

International Council of Trade and Industrial Unions, Moscow, Russia. The Communist “Red” trade union international.

World Association for Adult Education, 13 John St., Adelphi, London, S.C.2, England.

Political Internationals—For further information concerning the “Second International”, apply to British Labour Party; for “Vienna International”, to Independent Labor Party; for “Third International’ , to Communist Party of Great Britain (address below).

Labour Research Department, 34 Eccleston Square, London, S.W.I., England. A central clearing house for information concerning the international labor, socialist and communist movements. Publishes the “Labour Monthly”, a well-informed journal of the international labor movement, with a communistic slant. Prepared International Labour Handbook and numerous other publications.

Fabian Society, 25 Tothill St., London, S.W.I., England. Makes specialty of scientific and popular pamphlet literature. Publishes monthly, “The Fabian News”.

Guild Socialist League, 39 Cursitor St., London, Eng. Central organization  for Guild Socialist movement in England. Publishes monthly, “The Guild Socialist”, and numerous pamphlets.

Labour Publishing Company, 6 Tavistock Square, London, England. Publishes a large number of important books on the socialist and communist movements.

Daily Herald, 2 Carmelite St., Fleet St., London, E.C.4, England. The official newspaper of the Labour party.

The New Statesman, 10 Great Queen St., London, W.C., England. A weekly of moderate socialist thought.

Foreign Affairs, Great Smith St., Westminster, London, England. A weekly emphasizing the need of a broad internationalism.

The New Age, 38 Cursitor St., London, E.C.4, Eng. Guildsman weekly, interested chiefly in Douglas’ credit plan.

British Labour Party, 33 Eccleston Square, London, S.W.I., England. Publishes weekly news service, a monthly, “The Labour Review” and numerous pamphlets.

Independent Labour Party, 8 and 9 Johnston’s Court, London, E.C.4, Eng. The socialist branch of the British Labour party. Publishes weekly, “The New Leader”, edited by H. N. Brailsford, and monthly, “The Socialist Review”, edited by Ramsay Macdonald.

British Communist Party, 16 King St., Covent Garden, London, W.C.2, Eng. Publishes weekly, “The Communist”, and many leaflets.

University Labour Federation, 33 Eccleston Square, London, S.W.I.,

Eng. University Socialist Federation, 34 Eccleston Square, London, S.W.I., Eng.

For a more complete list of labor and socialist organizations and papers abroad see “International Labour Handbook”, published by Labour Publishing Co., London, Eng., and the “International Labour Directory”, published by the International Labour Office, Geneva, Switzerland.

 

This syllabus is published by the LEAGUE FOR INDUSTRIAL DEMOCRACY. For further information regarding the League’s college and city groups, lectures, literature, conferences, etc., write to the League headquarters, 70 Fifth Avenue, New York City. Among the League pamphlets recommended are “Challenge of Waste”, Stuart Chase (10¢) “Irrepressible America”, Dr. Scott Nearing (10¢); “Express Companies of the U.S.”, Bertram Benedict (10¢); “Freedom in the Workshop”, Felix Grendon (10¢); “Public Ownership Throughout the World”, Harry W. Laidler (10¢); “ Study Courses in Socialism”, Harry W. Laidler (10¢); “A Study Course in Socialism” (a sketch), Jesse Lynch Williams (1¢).

 

LEAGUE FOR INDUSTRIAL DEMOCRACY
70 Fifth Avenue, New York City

This Pamphlet 10¢. a Copy (December, 1922). 15 Copies for $1.00

 

Source: Hathitrust Digital Library. Copy also at archive.org.

Image Source: Poster for League for Industrial Democracy, designed by Anita Willcox during the Great Depression, showing solidarity with struggles of workers and poor in America (Wikipedia).

Categories
Chicago Exam Questions

Chicago. Graduate prelim exams in economic theory. Metzler, Friedman and Knight, 1951

 

The previous post provided the names of the examination committee members for the economics preliminary exams for the Ph.D./A.M. by field at the University of Chicago for the summer quarter of 1951. The names of the students registered for the respective examinations were transcribed as well. The economic theory examining committee for that round consisted of Lloyd Metzler (chair), Milton Friedman, and Frank Knight. This post provides a transcription of both economic theory exams along with Friedman’s hand-written answer to Question 5 of Part I.

_____________________

ECONOMIC THEORY
Part I
Summer Quarter, 1951

(Do not write your name on your paper. Use only the number in the top right-hand corner of this examination.)

Ph.D. candidates. Write 3½ hours. Answer all questions.

A.M. candidates. Write 2½ hours on questions #1 and #2 and one other.

  1. Discuss the probable shape of the long-run cost curve for an industry operating under approximately perfect competition. How would it differ in the short run, i.e., in response to an unanticipated shift in the demand-curve for the product, assumed not to be permanent?
  2. Briefly discuss the Ricardian conception of capital, specifically in relation to his theory of wages. Argue the question whether wages are paid out of (pre-existing) capital or out of (current) product.
    Can you find any relation between the Böhm-Bawerk production-period theory of interest and the Ricardian theory of capital and profit? What is the crucial assumption about the nature and source of capital which underlies the production-period theory, and is it sound? How does diminishing returns to investment enter into Ricardo’s and Böhm-Bawerk’s theories?
  3. Consider a trade union that is strong enough to prevent nonmembers from working at the trade in question and whose membership, for simplicity, will be supposed unaffected by the level of returns to members within broad limits (e.g., future membership consists of present membership minus members who die plus male children of present members). Analyze what its position would be toward the immigration of unskilled labor if it took account solely of the effect of such immigration on the incomes of its members. What considerations, if any, should lead it to favor more extensive immigration? What considerations, if any, to favor restriction on immigration? Is there a clear balance in favor of the one position or the other?
  4. “The orthodox tools of supply and demand assume that sellers and buyers are free to buy or sell any quantities they wish at the price determined by the market. This assumption cannot validly be made when price controls or rations are imposed by government. It follows that these tools are useless in analyzing the effects of such governmental actions. Economists should free themselves from slavish adherence to outmoded concepts and fashion new tools for the new problems raised by the modern Leviathan.” Discuss.
  5. The following figures represent the prices and quantities of two commodities, A and B, consumed by three individuals having the incomes stated in two different periods of time.

First Period

Second Period
Pa Qa Pb Qb Income Pa Qa Pb Qb

Income

Arthur

$1

20 $2 10 $40 $2 10 $1 20

$40

John

$2

20 $1 10 $50 $1 10 $2 20

$50

Paul

$2

20 $1 10 $50 $2.50 10 $1.25 20

$50

Assuming that each individual spends his whole income on the two commodities, and assuming also that there is no change in tastes between the two periods, indicate for each individual what the above information reveals as to whether the bundle of goods consumed in Period I represents a lower or a higher level of satisfaction that the bundle consumed in Period II. Explain your conclusions fully. (It is recommended that a diagram be used in answering this question.)

 

[Answers to Question 5 in pencil: Arthur “Can’t tell”; John “Inconsistent”; Paul: “First period better”]

From sketch in Milton Friedman’s copy of the exam.

 

 

ECONOMIC THEORY II
Summer Quarter, 1951

Time: 2½ hours.

  1. (a) Describe and discuss briefly the circumstances that gave rise to the establishment of the Federal Reserve System and the major events (including its actions) in its history.
    (b) In light of this survey of the record, comment on the following conclusion of one student: “The Federal Reserve System should be abolished. It served as an engine of inflation in two World Wars and post-war periods, hindered the re-establishment of satisfactory monetary standards throughout the world in the 1920’s, and failed to prevent the Great Depression, if indeed it was not itself largely responsible for the severity of that depression. The United States would have had a happier history if the pre-1913 monetary arrangements had been continued thereafter.”
  2. “From the preceding considerations it would be seen, even if it were not otherwise evident, how great an error it is to imagine that the rate of interest bears any necessary relation to the quantity or value of the money in circulation. An increase in the currency has in itself no effect, and is incapable of having any effect, on the rate of interest.” (J.S. Mill)
    “We can sum up the above in the proposition that in any given state of expectation there is in the minds of the public a certain potentiality towards holding cash beyond what is required by the transactions-motive or the precautionary-motive, which will realize itself in actual cash holding in a degree which depends on the terms on which the monetary authority is willing to create cash…Corresponding to the quantity of money created by the monetary authority, there will, therefore be set.  par. a determinate rate of interest.” (J. M. Keynes)
    “The saving schedule tells us what part of income the community desires to save. The technical conditions…expressed by the marginal-efficiency-of-investment function, determine the marginal efficiency of the amount of investment that the giving up of consumption permits undertaking. (The intersection of the two schedules determines) the equilibrium rate of interest.” (F. Modigliani).
    Can you reconcile these opinions concerning the determinants of the interest rate? Explain fully, making and stating any assumption you like as to the conditions of production, the time period under consideration, and the flexibility of prices and costs.
  3. What measures would you advocate—and give your reasons for inclusion and omission—for controlling the inflationary tendency in the U.S. under present conditions?

 

Source: Hoover Institution Archives. Papers of Milton Friedman, Box 76, Folder “76.2 University of Chicago, ‘Economic Theory’”.

Image Source: Social Science Research Building. University of Chicago Photographic Archive, apf2-07490, Special Collections Research Center, University of Chicago Library.

Categories
Chicago Economics Programs Economists Fields

Chicago. Schedule of the preliminary economics exams for the Ph.D. and A.M., Summer 1951

 

The following schedule for preliminary examinations in economics at the University of Chicago from the summer quarter of 1951 comes from Milton Friedman’s papers at the Hoover Institution Archives. We see that he was on the two economic theory examination committees along with Lloyd Metzler and Frank Knight. Besides providing the names of the faculty members serving on the nine committees, the schedule also provides the names of the sixty students registered for the examinations during that quarter.

____________________

DEPARTMENT OF ECONOMICS

SCHEDULE FOR PRELIMINARY EXAMINATIONS
FOR THE PH.D. AND FOR THE A.M.

Summer Quarter, 1951

The schedule below shows the examinations requested for the current quarter. Will the chairman of each committee please be responsible for turning in the complete examination at least one week before the date on which it is to be given?

 

Date

Examination Committee

Students Registered

Thurs., Aug. 2
8:30
Law Court

Agricultural Economics

D.G. Johnson, chr.
C. Hildreth
T.W. Schultz
Dunsing, Marilyn (A.M.)
Fox, Kirk (Ph.D)
Hughes, Rufus (Ph.D.)
Taylor, Maurice (Ph.D.)

Tues., July 31
8:30
Law Court

Economic Theory I

L. Metzler, chr.
M. Friedman
F. Knight
Baskind, Irwin (Ph.D.) in abs.
Bassett, Marjorie (Ph.D.-A.M.)
Blumberg, Lionel (Ph.D.-A.M.)
Chen, Ho-Mei (Ph.D.)
Chen, Sze-te (Ph.D.-A.M.)
Chien, Chih Chien (Ph.D.)
Cleaver, George (Ph.D.)
Dunsing, Marilyn (A.M.)
Emmer, Robert (Ph.D.)
Fox, Kirk (Ph.D.)
Frank, Andrew (Ph.D.-A.M.) in abs
Gustus, Warren (Ph.D.)
Heizer, Raymond (Ph.D.)
Herlihy, Murray (Ph.D.)
Hoch, Irving (Ph.D.)
Hughes, Rufus (Ph.D.)
Krawczyk, Richard (Ph.D.-A.M.) in abs
Lerner, Eugene (Ph.D.)
Liang, Wei K. Liang (Ph.D.)
Lininger, Charles (Ph.D.)
Lurie, Melvin (Ph.D.)
McGuire, Charles (Ph.D.)
Malhotra, Man Mohan (Ph.D.)
Malone, John (Ph.D.)
Mitcham, Clinton (Ph.D.-A.M.)
Morrison, George (Ph.D.-A.M.)
Sonley, Lorne (Ph.D.)
Taylor, Maurice (Ph.D.)
Terrell, James (Ph.D.-A.M.)
Toscano, Peter (Ph.D.)
Traeger, Gordon (Ph.D.-A.M.)
Viscasillas, Felipe (Ph.D.)
Waldorf, William (Ph.D.)
Weir, Thomas (Ph.D.)
Weiss, Roger (Ph.D.-A.M.)
Zelder, Raymond (Ph.D.)

Tues., Aug. 7
8:30
Law Court

Economic Theory II

L. Metzler, chr.
M. Friedman
F. Knight
Chen, Ho-Mei (Ph.D.)
Herlihy, Murray (Ph.D.)
Hoch, Irving (Ph.D.)
Toscano, Peter (Ph.D.)
Weir, Thomas (Ph.D.)

Thurs., Aug. 9
8:30
Law Court

Government Finance

P. Thomson, chr.
J. Marschak
D.G. Johnson
Frank, Andrew (Ph.D.-A.M.) in abs
Haskell, Max (Ph.D.) in abs
Henry, Edward L. (Ph.D.)
Horwitz, Bertrand (Ph.D.-A.M.)
Lininger, Charles (Ph.D.)
Selden, Richard (Ph.D.)

Thurs., Aug. 9
8:30
Law Court

Industrial Relations

F. Harbison, chr.
E. Hamilton
H.G. Lewis
Barghout, Saad (Ph.D.)
Bechtolt, Richard (Ph.D.)
Hoch, Irving (Ph.D.)
Liang, Wei K. (Ph.D.)
Mullady, Philomena (Ph.D.)
Ness, David (Ph.D.)

Thurs., Aug. 2
8:30
Law Court

International Economics

L. Metzler, chr.
B. Hoselitz
A. Rees
Alberts, William (Ph.D.)
Anderson, Edwin (Ph.D.) in abs
Chen, Sze-te (Ph.D.-A.M.)
Chien, Chih Chien (Ph.D.)
Cleaver, George (Ph.D.)
Frank, Andrew (Ph.D.-A.M.)
Glick, Milton (Ph.D.-A.M.)
Gustus, Warren (Ph.D.)
Lukomski, Jesse (Ph.D.-A.M.)
Mitcham, Clinton (Ph.D.-A.M.)
Morey, Donald J. (Ph.D.-A.M.)

Tues., Aug. 7
8:30
Law Court

Money, Banking, and Monetary Policy

L. Mints, chr.
E. Hamilton
J. Marschak
Alberts, William (Ph.D.)
Bauer, Milton (Ph.D.)
Blumberg, Lionel (Ph.D.-A.M.)
Chen, Sze-te (Ph.D.-A.M.)
Chien, Chih Chien (Ph.D.)
Cleaver, George (Ph.D.)
Conomikes, George (Ph.D.-A.M.)
Davis, George (Ph.D.) in abs
Emmer, Robert (Ph.D.)
Heizer, Raymond (Ph.D.)
Horwitz, Bertrand (Ph.D.-A.M.)
Hughes, Rufus (Ph.D.)
Krawczyk, Richard (Ph.D.-A.M.) in abs
Lerner, Eugene (Ph.D.)
Liang, Wei K. (Ph.D.)
Lukomski, Jesse (Ph.D.-A.M.)
Meckling, William (Ph.D.)
Mitcham, Clinton (Ph.D.-A.M.)
Morey, Donald (Ph.D.-A.M.)
Ogawa, George (Ph.D.)
Smulekoff, Suzanne (Ph.D.-A.M.)
Sonley, Lorne (Ph.D.)
Taylor, Maurice (Ph.D.)
Terrell, James (Ph.D.-A.M.)
Traeger, Gordon (Ph.D.-A.M.)
Zelder, Raymond (Ph.D.)
Zingarelli, Carla (Ph.D.-A.M.)
Rayack, Elton  (Ph.D.) in abs

Thurs., Aug. 2
8:30
Law Court

Statistics

T. Koopmans, chr.
C. Hildreth
H.G. Lewis
Cagan, Phillip (Ph.D.)
Hogan, Lloyd (Ph.D.)
Katzman, Irwin (Ph.D.)
Malhotra, Man Hohan (Ph.D.)
Waldorf, William (Ph.D.)

Thurs., Aug. 2
8:30
Law Court

Economic History

E. Hamilton Mullady, Philomena (Ph.D.)
Toscano, Peter (Ph.D.)

Source: Hoover Institution Archives. Papers of Milton Friedman. Box 76, Folder “University of Chicago ‘Economic Theory’”.

Categories
Princeton Suggested Reading Syllabus

Princeton. Syllabus and bibliography for public finance. Daniels, 1895

 

 

An original copy of the following twenty page, printed syllabus in public finance for Professor Winthrop More Daniels’ lectures on public finance at Princeton for 1895-96 can apparently be found in the Columbia University Library. According to a handwritten note on the back of the title page, this syllabus was a gift of Professor E.R.A. Seligman.

This post includes some biographical information together with a transcription of the full twenty page syllabus. At the very end of the post you will find links to all the collateral readings as well as the items included in Daniels’ bibliography of “authorities”.

______________________

DANIELS, Winthrop More, 1867-

WINTHROP MORE DANIELS, A.M., Professor of Political Economy at Princeton, was born in Dayton, Ohio, September 30, 1867, son of Edwin Arthur and Mary Billings (Kilburn) Daniels, natives of Massachusetts, but of English ancestry. On the maternal side he is descended from Thomas Kilborne (the common ancestor of all the Kilburns in this country) who was born in the parish of Wood Ditton, County of Cambridge, in 1578, whence he migrated to New England in 1635. The Daniels family came to this country and settled in Massachusetts sometime in the seventeenth century. His early education was obtained at home in the Dayton Public Schools, and at Deaver Collegiate Institute. He was graduated at Princeton in the Class of 1888, and spent part of that year and of the years 1890 and 1891 in foreign travel. He was a teacher of classics in the Princeton Preparatory School in 1888, which position he filled for two years, when he went abroad, and spent two semesters at the University of Leipsic, Germany, studying economics and history. Returning to this country in 1891, he was appointed Instructor in Economics and Social Science at Wesleyan University, Middletown, Connecticut, remaining there for a year, when, in 1892, he was chosen Professor of Political Economy at Princeton, which position he now holds. Professor Daniels is a member of the Reform Club of New York City, the Nassau and Colonial Clubs of Princeton, and a member of the American Economic Association. He is independent in politics, and has made addresses favoring a revenue tariff and opposing free silver. He was married in 1898 to Joan Robertson of Montville, Connecticut. He has recently published a treatise entitled Elements of Public Finance.

Source: Joshua Lawrence Chamberlain, ed., Universities and their Sons: History, Influence and Characteristics of American Universities, with biographical sketches and Portraits of Alumni and Recipients of Honorary Degrees, Vol. 2 (Boston, 1899) p. 71.

______________________

Obituary for Winthrop More Daniels, 1944

M. Daniels Dies; Former Head of ICC

Saybrook Man Succeeded Woodrow Wilson as Professor at Wesleyan and Princeton

Saybrook, Jan. 3.—(AP)—Winthrop More Daniels, 77, transportation expert who succeeded President Woodrow Wilson in professorship at Wesleyan and Princeton and later served under him in New Jersey as a public utility commissioner and in Washington as chairman of the Interstate Commerce Commission, died yesterday after a brief illness.

Daniels, who retired as professor of transportation at Yale several years ago, was a native of Dayton, O., and was an author of numerous books, including a history of American Railroads. He leaves his wife, Joan Robertson, and a son, Robertson Balfour. Funeral services will be held at the Saybrook Congregational Church Wednesday with burial in the local cemetery.

Daniels was on the Board of Public Utility Commissioners, New Jersey, while Wilson was governor of that state, and for a number of years was chairman of the ICC, during Wilson’s term as president. He was also a trustee of the New Haven Railroad from 1935 to 1937.

Served as ‘New Haven’ Trustee.

After taking degrees at Princeton and studying a year at the University of Leipzig, Daniels succeeded Wilson at Wesleyan, and later become professor of political economy at Princeton when Wilson left to become governor of New Jersey.

After three years as a member of the New Jersey Board of Public Utility Commissioners, Daniels accepted President Wilson’s call to become a member of the ICC, a post he held until 1923 when he resigned to come to Yale. He was chairman of the ICC from 1918 to 1919.

During the early stages of the “New Haven” Railroad reorganization proceedings, he agreed to serve as a trustee, finally retiring in 1937 to settle down at the house he built here.

In addition to writing numerous books, he also revised a continuation of Alexander Johnson’s History of the United States, and did a continuation of Johnson’s History of American Politics.

Source: Hartford Courant, January 4, 1944, p. 2.

______________________

Syllabus of lectures upon public finance
by Professor Winthrop More Daniels
Princeton, N.J.  1895-96

 

PUBLIC FINANCE.

LECTURE I. INTRODUCTION.
THE DEFINITION AND SCOPE OF PUBLIC FINANCE.

  1. Definition. Public Finance treats of the collection and expenditure of funds legally devoted to public ends, together with such effects, social, political and economic, which result from this exercise of governmental activity.
    1. Distinction between Public Finance and private finance.
    2. Importance of enforced collection.
    3. The French conception of Finance.
    4. The German conception of Finance.
    5. Derivation and meaning of the term—Finance.
  2. Practical Bearings of Finance.
    1. Allegation that Finance is exclusively an Art.
    2. Bearing of Finance on the individual citizen’s income. Luce’s statement: Leroy Beaulieu’s statement.
    3. Special Importance of Finance in the United States.
  3. Historical Bearings of Finance.
    1. Taxation as a dynamic historical agency: examples.
  4. Political Bearings of Finance.
    1. History and Politics in general; their relation.
    2. Finance, the battlefield of Politics.
    3. Finance, the source of constitutional changes.
  5. Economic Bearings of Finance.
    1. Effect of taxation upon social classes.
    2. Socialist proposals.
  6. Relation of Finance to Cognate Disciplines.
    1. Classification of the Sciences.
    2. Relation of Finance to Law, Politics, Economics.

 

LECTURE II.
HISTORICAL DEVELOPMENT OF MODERN FINANCE.

  1. The Modern Financial Constitution.
    1. The Modem Industrial (Factory) System: its characteristics.
    2. The Modern Financial System.
      1. Normal and calculable field of governmental activity.
      2. Periodic contributions in money.
      3. Popular control over governmental income and expenditure.
      4. Public Credit.
  2. The Economic and Financial Constitution of Athens.
    1. Economic Structure:—Slavery: Family-Industry: Sea Commerce.
    2. Financial Constitution: Revenue: The Liturgies.
  3. The Economic and Financial Constitution of Rome.
    1. Economic Structure:—Slavery: Absence of Manufactures,
    2. Financial Constitution: Revenue: its sources and nature.
  4. Summary, and Comparison of Classical and Modern Systems.
    1. Normal vs. abnormal governmental functions.
    2. Taxation in the modern sense, unknown.
    3. Absence of Public Credit.
  5. The Mediaeval Economic and Financial Structure.
    1. Economic Structure.
      1. Production synonymous with Agriculture.
      2. Serf labor.
      3. Embryonic state of Exchange: a “natural” economy.
    2. Financial Constitution.
      1. The Feudal view of Finance.
      2. The importance of personal services.
      3. Rise of Regalian Rights.

 

LECTURE III
HISTORICAL DEVELOPMENT OF FINANCE.

  1. Municipal Finance.
    1. The Rise of Cities: the Guild System.
    2. Increased cost of city government.
    3. Self-voted taxes arise; become permanent instead of occasional.
    4. Rise of Municipal Credit.
  2. The Development of Financial Constitutionalism in England.
    1. The Feudal System in England (1066).
    2. The Exchequer system.
    3. Origin of the representative theory. Scutage, 1156; Personal property taxes, 1181; Provisions of Magna Carta,
    4. Complete establishment of the representative financial constitution. The Civil War: The Revolution of 1688.
    5. The Extension of commercial constitutionalism. In the U. S.; in France; on the continent generally.

 

PART I.

LECTURE IV.
THE FIELD OF PUBLIC EXPENDITURE.

  1. Theories of the proper domain of State Expenditure.
    1. Their dependence on the prior theory the State’s nature.
    2. Spencer’s “Specialized Administration.”
      Expenditure warranted from this standpoint
    3. Adam Smith’s “Natural Liberty”.
      Expenditure warranted; Justice and Education.
    4. Mill’s modified laissez faire.
      Warranted expenditure, the “open door” for Socialism.
    5. Roscher’s Culturstaat
      Justifiable expenditure, a historic variable.
    6. Wagner’s State Socialism.
      Enlarged scope of expenditure.
    7. The Collectivist view.
      Public expenditure synonymous with Distribution.
  2. Practical Solution of the Question.
    1. Assumption of the Status quo.
    2. Criteria of proposed concrete extensions of expenditure.
      Sir James Fitzjames Stephen’s three tests.
  3. The Categories of Expenditure.
    1. Historical development.
    2. The Expenditure of modern States.
      1. Defence; 2. Justice; 3. Trade and Industry; 4. Social well-being.
  4. The Growth of Expenditure.
    1. The universal increase.
    2. Causes—Nationality; Socialism.

 

LECTURE V.
EXPENDITURE IN THE UNITED STATES.

  1. Expenditure in the U. S. General Survey.
    1. Distribution of expenditure, federal, state, local.
    2. Comparison of expenditure in U. S. with expenditure elsewhere.
  2. Expenditure upon Administrative Bureaux.
    Distribution; Comparison; Tendency.
  3. Defence.
    Distribution, Comparison, Tendency,— increase of naval expenditure.
  4. Justice and Security.
    Distribution; Comparison; Tendency.
  5. Industry, Commerce, Public Works.
    Distribution; Comparison; Tendency.
  6. Education and Religion.
    Distribution; Comparison; Tendency,— industrial education, denominational schools.
  7. Charity and Correction.
    Distribution; Comparison; Tendency.
  8. Interest on Public Indebtedness.
    Distribution; Comparison; Tendency.

 

PART II.

LECTURE VI.
QUASI-ECONOMIC RECEIPTS.

  1. The Classification of Revenues.
    1. Quasi-economic revenues and tax revenues.
      The case of Fees.
    2. Varying proportion of the two kinds of revenue.
      Growing prominence of quasi-economic revenue.
    3. Relegation (1) of the domanial revenue in the U. S.; (2) of the proposed State monopoly of land.
  2. The Economic and Financial Aspect of Quasi-Economic Revenues.
    1. Priority of the economic question.
  3. Definition and Classification of Monopolies.
    1. Definition
    2. Classification: legal, natural, and industrial monopolies.
      Their occasional coalescence.
    3. Extent of monopolies.
  4. The Rise of Modern Monopolies.
    1. Early monopolies, mostly legal.
    2. Status of monopoly in 1800.
    3. Development of modern monopolies.
      1. Caused by city growth.
      2. Caused by industrial growth.
    4. Modification of the doctrine of laissez faire.
    5. Residual Competition.
  5. The Regulation of Natural (urban) Monopolies.
    1. Classes of urban monopolies.
    2. Water supply, its character.
    3. Light supply, its character.
    4. Local transportation, its character.
    5. Miscellaneous urban monopolies.

 

LECTURE VII.
THE GREAT INDUSTRIAL MONOPOLIES. RAILROADS.

  1. Origin and Development of Railroad Systems.
    1. The inception of the systems in various States.
    2. Tendency toward amalgamation.
      1. Linear consolidation.
      2. Parallel consolidation.
    3. Development of the Rate System.
      Tolls; charging “what the traffic will bear.”
    4. Development of Railroad legislation in U. S.
      1. Before 1870 and after.
      2. The Inter State Commerce Act; its provisions.
    5. Inference as to railroad legislation in the U. S.
  2. Possible Relations of the State to Railroads.
    1. State ownership and operation of all roads.
    2. State ownership and operation of some
    3. State operation (as by lease) without ownership.
    4. State ownership not involving State operation.
    5. Regulation (as by Commissions).
  3. State Ownership and Management.
    1. Feasibility viewed from standpoint of construction.
      1. 2. Economy.
        Adverse conclusions to State initiative.
    2. Transportation Rates.
      Prof Hadley’s evidence.
    3. Unjust Discrimination, local and personal.
      1. Natural origin of discrimination against certain localities.
      2. Discrimination against individuals.
    4. Cost of Operation.
      von Scheel’s argument. Leroy Beaulieu’s evidence.
    5. Necessity and advantage of pools.
    6. Alleged Analogy of State management of the Post Office.
      Differences in administration.
    7. Argument from Prussian Railroad management.
  4. The Compromise Systems.
    1. Part ownership and operation.
      Experience of Belgium.
    2. State operation by lease.
    3. State ownership, and corporate operation.
  5. State Regulation.
    1. Limitation of rates. Its inadequacy.
    2. Limitation of dividends. Its inadequacy and disadvantages.
    3. Special taxation, supervision and publicity.
  6. State Control of the Telegraph System.
    1. Monopoly characteristics.
    2. State ownership and operation; in England; on the continent
    3. The transitional period in telegraphic apparatus.
  7. Financial Conclusions.
    1. Governmental assumption of simple monopolies.
    2. Distinction between simple and complex monopolies.
    3. Revenue rule for State-owned monopolies.
    4. Revenue from other monopolies.

 

LECTURE VIII.
THE NATIONAL BANK SYSTEM OF THE U. S.

  1. Previous Banking Systems of the U. S.
    1. The First U. S. Bank: 1791-1811.
    2. The Second U. S. Bank: 1816-1836.
    3. The State Bank System.
    4. Outcome of the State Bank System in New York and Mass.
  2. Origin of the National Bank System.
    1. Financial conditions in 1863.
    2. Legislative Acts creating the National Banks.
  3. Method of Organization.
    1. The Office of Comptroller of the Currency.
    2. Bond deposit and. note issue.
  4. The Bank Note Circulation.
    1. Homogenous in form and security.
    2. Expansion and contraction provisions.
  5. Reserve and Security Funds.
    1. Redemption fund.
    2. Reserve fund held against deposit liabilities.
    3. Priority of obligations in case of failure.
  6. Miscellaneous Banking Regulations.
    1. Prohibited loans.
    2. Examinations and reports.
  7. Earnings — Sources and Limits.
    1. Sources.
    2. Regulations governing profits.
  8. Advantages and Defects of the System.
    1. Character of the currency furnished.
      1. Uniformity and security.
      2. Redemption
      3. Sensitiveness, in normal and abnormal conditions.
    2. Alleged unfair Discrimination.
      1. In favor of bond holders.
      2. Double interest.
  9. The Future Bank Currency of the U. S.
    1. Approaching termination of the present system.
    2. Possible Substitutes.
      1. State Bank Currency.
      2. Exclusive federal issues of paper currency.
      3. The Baltimore Plan for continuing the present system, with a different basis for the note circulation.

 

LECTURE IX.
THE BANK OF ENGLAND.

  1. The Founding of the Bank.
    1. Mixed motives of the Whigs in 1688.
    2. Previous banking; the goldsmiths.
    3. Low credit of the Government in 1694.
    4. Early political character of the Bank.
  2. Original Constitution of the Bank.
    1. Government.
    2. Prohibitions.
    3. Privileges.
  3. Present Constitution of the Bank (since 1844)
      1. Government.
      2. Capital.
      3. Separation of the Banking and Issue Departments.
      4. Suspension of the Act of 1844.
  1. The Position of the Bank in the Money Market.
    1. Sole depository of the reserve.
    2. Regulator of the reserve.
    3. Allayer of panics.

 

PART III.— TAX REVENUE.

LECTURE X.
TAXATION. ITS NATURE.

  1. Taxation.
    1. Definition of a tax.
    2. “Subject” and “Object” of Taxation.
      “Source” of taxation.
    3. Economic Nature of Taxation.
      1. Non-productive, a cost.
      2. Fallacies on the subject
    4. Divisions of the Theory of Taxation.
      1. Incidence, Problems of.
      2. Equity, Problems of.
      3. Administration, Problems

 

LECTURE XI
THE INCIDENCE OF TAXATION.

  1. Incidence.
    1. Definitions.
      Illustrations of the shifting of taxes.
  2. Early Theories of Incidence.
    1. The Physiocratic theory.
      Its inadequacy.
    2. The Diffusion theory.
      Statements of Lord Mansfield, Thiers, Canard, Mr. D. A. Wells.
  3. Incidence, as regards taxed products.
    1. Production under competitive conditions.
      Case I. — Inelastic Demand.
      Case II. — Elastic Demand. Collateral effects.
    2. Production under monopoly conditions.
    3. Actual conditions.
  4. Incidence as regards classes of Income.
    1. Analogy of IV to III sup. cit.
    2. Income by usance.
    3. Income by process of exchange.
      1. Incidence in case of Rent.
      2. Incidence in case of Interest.
      3. Incidence in case of Profits and Salaries.
      4. Incidence in case of Wages.
    4. Qualifications necessary for the application of IV.

 

LECTURE XII
DISTRIBUTION OF TAXATION.

  1. Definition of Distribution.
  2. The Fiscal Theory. McCulloch’s statement.
  3. The Politico-Social Theory.
  4. The Benefit Theory.
    1. Outline of the benefit theory.
    2. Sphere of its application.
    3. Measure of benefits received.
      1. Importance of service rendered.
      2. Cost of service rendered,
    4. Inadequacy of the Benefit-theory.
  5. The Ability Theory.
    1. Outline of the ability theory.
    2. The measure of ability: proportion or progression.
    3. Arguments for and against these tests.
      1. Degree of sacrifice involved.
      2. Socialistic tendency of progression.
      3. Unproductiveness of progression.
      4. Democratic nature of progression.
    4. Conclusions: General Superiority of the proportional system.
      1. In favor of the benefit-theory.
      2. In favor of the progressive rate for specific taxes.

 

LECTURE XIII.
THE TAX SYSTEM; ITS FORMS.

  1. Single vs. Multiple Taxation.
    1. Illustrations of the difference.
    2. Early proposal of a single tax.
      Vauban: the Physiocrats and l’împot unique.
    3. Difficulties of the single system.
      1. Disproportionality.
      2. Necessity of disguising taxation.
      3. Structure of central and local government.
    4. Difficulties of a Single Tax on monopoly gains.
      1. Disclosure difficult.
      2. Revenue inadequate and inelastic.

 

LECTURE XIV.
THE SINGLE TAX THEORY.

Introduction: History of “Progress and Poverty.”

  1. George’s Argument against private property in Land.
    1. The Moral Argument.
      The rightful basis of all property, — the labor basis.
      Criticism of this view. Case cited by Mr. George.
  2. The Economic Argument.
    1. George’s theoretical catena; Criticism thereof.
    2. George’s historical argument.
      Criticism, economic and statistical.
      The increase of poverty, its implications.
  3. Proposed Methods of Land Nationalization.
    1. Classification of Methods.
    2. Criticism of Confiscatory Methods.
    3. Criticism of Compensatory Methods.
      1. Difficulty in discounting rises in value.
      2. Recompense of undeserved losses.
      3. Effect on improvements.
      4. Increase of governmental functions.

 

LECTURE XV.
CLASSIFICATION OF TAXES.

  1. Classification.
    1. Basis of Classification; legal, economic and miscellaneous.
    2. Direct and Indirect Taxes.
  2. Comparison of Direct and Indirect Taxes.
    1. Merits and Defects of Direct Taxes.
      Defects; — do not reach the masses; slow automatic growth.
      Merits;— theoretical fairness where universal; political advantages.
    2. Merits and Defects of Indirect Taxes.
      Merits; — Productivity and relative popularity.
      Defects;— Inequality, hampered production, costliness of collection, and variableness.
  3. Direct and Indirect Taxes in the U. S.
    1. Apportionment of revenue sources.
      Federal and State revenue.
    2. Causes of this Apportionment.
      1. Customs. 2. Internal Revenue. 3. Direct Taxes.

Note:
General Property [&] Corporation and Succession Taxes [->] Direct Taxes:  State Taxes.
Internal Revenue [&] Customs [->] Indirect Taxes:  Federal Taxes.
Income Taxes (direct) States and (formerly) Federal taxes.

 

LECTURE XVI.
THE GENERAL PROPERTY TAX.

  1. Description of the Tax.
    1. Definition.
    2. Distinction between real and personal property.
  2. Operation of the General Property Tax.
    1. Preliminary valuation of property.
      Law of situs: appeals.
    2. Final valuation of property.
    3. Collection of taxes.
  3. Historical Origin of the General Property Tax.
    1. Colonial taxes.
    2. Wolcott’s Report in 1796. Summary.
    3. The Transition Period (1796-1861).
      Growth of wealth: increased amount evidenced by credits; increased import of personal services.
  4. The Defects of the General Property Tax.
    1. False assumption of ability.
    2. Failure to reach personal estate.
    3. Administrative defects.
    4. Regressivity.
  5. The Transformation of the General Property Tax.
    1. Preliminary conditions.
    2. Abolition of the State tax on realty.
    3. Abolition or reduction of Taxes on personal property by local governments.
    4. State taxes on corporations.
    5. Inheritance taxes.

 

LECTURE XVII.
THE INTERNAL REVENUE SYSTEM.

  1. Origin of the Federal System of Internal Revenue.
    1. Earliest Excises.
      The Whiskey Tax; its repeal.
      Excises during the war of 1812.
    2. From 1862.
  2. Taxes on Distilled Spirits.
    1. Previous Condition of Production and Consumption.
    2. Effects of the tax.
      The yield of various rates of taxation.
      Effect on production; on consumption.
      Frauds on the Revenue.
    3. Abatement and Reform of the Tax.
  3. The Tax on Tobacco.
    1. General Features.
    2. Specific Features; steadiness; tendency to increase.
  4. Canons of Excise Taxation.
    1. Taxation as a regulative moral agency.
    2. Productivity, how attained.
    3. Number and nature of articles taxed; raw materials.
    4. Distribution of the burden of excises.

 

LECTURE XVIII
CUSTOMS DUTIES IN THE UNITED STATES.

  1. Origin of Customs.
    1. Historical origin.
    2. “Objects” of customs taxation.
      Transport dues; Export duties; Import duties.
  2. Principles of Revenue and Protective Tariffs.
    1. Definition of protective and revenue Tariffs.
    2. Rates of duty.
    3. Kind and number of articles taxed.
    4. Offsets by excise and drawbacks.
    5. Bases of assessment.
      Ad valorem, specific and minimum duties.
    6. Indirect cost of a protective tariff.
  3. The History of the Customs Policy of the U. S.
    1. Pre-Constitutional Customs Duties.
    2. Early Patristic Legislation, 1789-1808.
    3. Effect of the curtailment of foreign commerce
    4. Rise and Growth of Protection.
      1. Stimulation of domestic manufactures, 1808-1815.
      2. Geographical strength of the policy.
      3. Culmination of the movement in 1828.
    5. The Revenue Period, 1833-1860 [1842-6].
    6. The War Period. 1860-1865.
    7. Post Bellum Legislation.
      1. Repeal of internal revenue taxes.
      2. Repeal of duties on revenue articles.
      3. Protection as a permanent policy, 1890.
        The McKinley Bill: Reciprocity.
      4. The Wilson Bill, 1894.
        The House Bill; the Senate Bill.
    8. Revenue Yield of the Principal Schedules.
      1. Valuation of (total) dutiable imports.
      2. Most important Schedules, their yield.
      3. Other schedules.

 

LECTURE XIX.
INCOME TAXES.

  1. Income Taxes; their history.
    1. Definition.
    2. History of the English Income Tax.
    3. History of the War Income Tax in U. S.
    4. History of the Income Tax of 1894.
  2. Provisions of the Law of 1894.
    1. The two per cent. tax on net income.
    2. Corporation incomes and other incomes.
    3. Exemptions.
    4. Administrative machinery.
  3. Advantages and Defects of Income Taxes in General.
    1. Equalization of Taxation.
      1. Its utility as a fiscal instrument.
    2. Defects.
      1. Failure to discriminate between different kinds of income.
      2. Failure to tax certain kinds of income.
  4. Criticism of the Law of 1894.
    1. Popular (political) criticism.
    2. Effect of the tax on the distribution of taxation.
      1. Incidence of taxation in England.
        Jevons’s estimate. Evidence of Mr. Lowe.
      2. Incidence of Taxation in the United States.
      3. Conclusions as to the probable effect of the law.
    3. Defects of the Law.
      1. High exemption limit.
      2. Minor defects.
  5. The Income Tax Decision.
    1. Explanation of the status of the case.
    2. Contentions of the appellant.
    3. Argument upon the contentions.
    4. Explanation of the Decision.
    5. Probable outcome of the Decision.

 

PART IV.
The Relation of Receipts and Expenditures.

LECTURE XX.
STATE HOARDING.

  1. Time Relation of Receipts and Expenditures.
    1. Normal Equilibrium.
    2. Casual Inequality.
  2. Surplus Financiering.
    1. Its Dangers under representative government.
  3. The War Chest Policy.
    1. History.
      In antiquity: Example of Prussia in modern times.
    2. Criticism of the Policy.
      1. Financial inefficiency.
      2. Effect on industry.
      3. Effect on self-government.

 

LECTURE XXI.
PUBLIC DEBTS.

  1. Historical Development of Public Credit.
    1. Definition of Public Credit.
    2. Its geographical extension.
    3. Nature of the security given.
    4. Time of the loans; rate of interest.
  2. Characteristics of Modern Public Debts.
    1. Preconditions of public Indebtedness.
    2. Extent of public Indebtedness.
    3. Causes of the growth of public debts.
      1. Nationality. 2. Socialism.
  3. The Effect of Public Debts.
    1. Primâ facie economic effects.
    2. Political Effects.
      In municipal politics.
    3. Social and industrial Effects.
    4. Summary of Evils of public Indebtedness.
  4. Public Debts, when justifiable.
    1. General Principles.
      1. Fiscal Deficit. 2. War. 3. Public Works.

 

LECTURE XXII.
FEDERAL INDEBTEDNESS.

  1. Colonial Period, 1607-1775.
    1. Variety in tax systems.
    2. Various media of exchange.
    3. Forced loans by issues of paper currency.
  2. The Revolutionary Period, 1775-1789.
    1. Determinants of the financial policy of the war,
    2. Excessive issue of paper currency.
      Influence of this period upon the Constitution.
  3. The Formative Period, 1789-1861.
    1. Federal Assumption of the Revolutionary Debt.
      Hamilton’s Report; its final adoption.
    2. Funding the Debt.
      The Sinking Fund Policy, its error.
    3. Payment of the Debt under Gallatin,
    4. Financial Policy of the War of 1812.
  4. The Modern Period, 1861-1896.
    1. Financial Policy of the Civil War.
    2. Rapid Growth of the Debt of the United States.
    3. Analysis of the Debt in 1865.
    4. Process of reduction.

 

LECTURE XXIII.
LOCAL INDEBTEDNESS IN THE U. S.

  1. Decline of the financial activity of the States.
    1. Statistical proof of the decline.
    2. Early financial prominence of the States.
    3. Failure of the States’ financial undertakings.
    4. Registry of the failure.
  2. Local Indebtedness; its Causes.
    1. Subsidizing industrial enterprises.
    2. Increase in the expenses of city government.
    3. Municipal misgovernment.
      1. Defective municipal government.
      2. Legislative interference.
      3. Political complications with State and Federal politics.
      4. Underpayment of officials.
  3. Regulation of Local Debts.
    1. Restrictions of floating debts.
    2. Time limit of debts.
    3. Sinking Funds and Repayment.

 

LECTURE XXIV.
BUDGETARY LEGISLATION.

  1. The Budget.
    1. Definition
    2. Historical Origin.
      In England: in France: in the U. S.
  2. The English Budget.
    1. The Estimates, their preparation.
    2. The Parliamentary Presentation.
    3. Execution and Verification.
    4. Merits and Defects.
  3. The French Budget.
    1. Preparation
    2. Legislative Presentation.
    3. Execution and Verification.
    4. Defects of the French System.
  4. The Federal Budget in the U. S.
    1. The Estimates.
    2. The Congressional Presentation.
      In the House of Representatives: in the Senate: Final Outcome.
    3. Execution and Verification.
    4. Defects of the System.

 

Collateral Reading.

Required:

Dunbar [Charles F.]; Theory and History of Banking.  [Chapters on the Theory and History of Banking, 1891]

Taussig [Frank William]; The Silver Situation in the United States [1893].

Recommended:

Adams [Henry Carter]; Public Debts [—An Essay in the Science of Finance (1890)].

Bastable [Charles Francis]; Public Finance [1892].

 

Authorities.

Alexander [E. Porter]: Railway Practice [1887].
Bagehot [Walter]: Lombard Street [1873].
Bastable: [Charles Francis]: Commerce of Nations. [1893].
Bryce [James]: American Commonwealth. [3rd ed., 1893] Volume I: The National Government—The State Governments

[2nd ed., 1889] Volume II: The Party System—Public Opinion—Illustrations and Reflections—Social institutions

Buxton [Sydney]: Finance and Politics. [1888] Volume I; Volume II
Cohn [Gustav]: Nationaloekonomie. [Grundlegung der Nationalökonomie. Ein Lesebuch für Studirende, 1885]
Cooley [Thomas M.]: Taxation. [A Treatise on the Law of Taxation, including the Law of Local Assessments, 2nd ed., 1886]
Dowell [Stephen]: History of Taxation and Taxes. [A History of Taxation and Taxes in England, 2nd edition, 1888.  Volume 1: Taxation, From the Earliest Times to the Civil War; Volume 2: Taxation, From the Civil War to the Present Day; Volume 3: Direct Taxes and Stamp Duties; Volume 4: Taxes on Articles of Consumption.]
Ely [Richard Theodore]: Taxation in American States and Cities [1888].
Enc. Brit.: Art. On Finance by [J. E.]Thorold Rogers.
Eng. Cit. Series: Farrer [Thomas Henry]: The State in its Relation to Trade [1883].
Walpole [Spencer]: The Electorate and the Legislature [1881].
Wilson, [Alexander Johnstone]: The National Budget [—The National Debt, Taxes and Rates (1882)].
George [Henry]: Progress and Poverty [4th edition, 1881].
Von Halle [Ernst]: Trusts or Industrial Combinations [in the United States (1895)].
Leroy Beaulieu [Paul]: [Traité de la] Science des Finances [5th ed. Tome Premier: Des Revenus Publics (1892); Tome Second: Le Budget et le Crédit Public (1891).
Macaulay [Thomas Babington]: History of England from the Accession of James the Second. [Volume I (1877); Volume II (1877)]
Mill [John Stuart]: Political Economy [5th edition. Volume I (1893); Volume II (1893)]; On Liberty [People’s Edition, 1880].
Rae [John]: Contemporary Socialism [2nd ed. (1891)].
Roscher [Wilhelm]: Finanzwissenschaft. [System der Finanzwissenschaft. Ein Hand- und Lesebuch für Geschäftsmänner und Studierende. 3rd edition (1889)]
Schönberg [Gustav von]: Handbuch der politischen Oekonomie. [Third edition.

Volume 1, Volkswirtschaftslehre (1890);

Volume 2, Volkswirtschaftslehre (1891);

Volume 3, Finanzwissenschaft und Verwaltungslehre (1891)]

Seligman [Edwin Robert A.]: Shifting and Incidence of Taxation [1892]: Progressive Taxation [1894]: Taxation of Corporations [Part I (1890); Part II (1890); Part III (1890)].
Shearman [Thomas Gaskell]: Natural Taxation [—An Inquiry into the Practicability, Justice and Effects of a Scientific and Natural Method of Taxation (1895)].
Sumner [William Graham]: The Financier and the Finances of the American Revolution. [Volume I, (1891); Volume II, (1891)]
Supreme Court Reports.
Taussig: The Tariff History of the United States [1888]
Wilson [Woodrow]: Congressional Government [—A Study in American Politics (1885)].
Wells [David Ames]: Recent Economic Changes [and their Effect on the Production and Distribution of Wealth and the Well-Being of Society (1889)].
Practical Economics [—A Collection of Essays Respecting Certain of the Recent Economic Experiences of the United States (1888)].

 

Source: Columbia University Libraries. 308/Z/Box 475. Prof. [Winthrop More] Daniels. Syllabus of Lectures upon Public Finance, 1895-6. Princeton, N.J.: C. S. Robinson & Co., University Printers. “Gift of Prof. E. R. A. Seligman 12.23.39[?]”.

Image Source: Portrait of Winthrop More Daniels in Joshua Lawrence Chamberlain, ed., Universities and their Sons: History, Influence and Characteristics of American Universities, with biographical sketches and Portraits of Alumni and Recipients of Honorary Degrees, Vol. 2 (Boston, 1899) p. 71.

 

Categories
Economics Programs Princeton

Princeton. Economics course offerings 1910-11

 

Not only were the Princeton University graduate economic course offerings in 1910/11 relatively slim, it is also interesting to note that five of the ten courses listed covered history of economics and economic history. Undergraduate courses could also be taken by graduate students in the department of history, politics, and economics. Links to the textbooks used are included in the following transcription of the economics portion of the course announcements.

___________________

UNDERGRADUATE COURSES

The following are the undergraduate [economics] courses in the Department of History, Politics, and Economics, and, though not listed or counted as graduate courses, they are open to graduate students of the Department:

45, 46. Elements of Economics. This course will comprise the essential elements of the abstract theory of economics and some of the more essential applications and exemplifications of the theory, such as money, banking, transportation, international trade, and monopoly problems. There will be one lecture a week, and two recitations in small groups to test the student’s apprehension of the subject matter covered in the reading. [Frank A.] Fetter: Principles of Economics; [Jeremiah Whipple] Jenks: The Trust Problem; and [Frank W.] Taussig: The Tariff History of the United States. Junior course, both terms, 3 hours a week. Prerequisite course: History 22 [Mediaeval History; 400 A.D.-1494 A.D. Sophomore elective, second term, 3 hours a week.]. Prerequisite to Public Finance and Money and Banking. Professor Daniels [Winthrop More Daniels, A.M.] and [Assistant] Professor Meeker [Royal Meeker, Ph.D.].

79. Economics. Public Finance. This course will cover the theory of public finance. Lectures with weekly conferences. [Winthrop More] Daniels: Public Finance; and [David MacGregor] Means: The Methods of Taxation. Senior course, first term, 3 hours a week. Prerequisite courses: History 22 and Economics 45, 46. Professor Daniels [Winthrop More Daniels, A.M.].

80. Economics. Money and Banking. This course is designed to outline briefly the problems touching money and banking. [Joseph French] Johnson: Money and Banking; [Edwin Walter] Kemmerer: Money and Prices [Money and Credit Instruments in their Relation to General Prices]; [Amos Kidder] Fiske: Modern Bank. Senior course, second term, 3 hours a week. Prerequisite courses: History 22 and Economics 45 and 46. [Assistant] Professor Meeker [Royal Meeker, Ph.D.].

THE PRO-SEMINARY. In the Department of History, Politics, and Economics there will be a pro-seminary both terms; the pro-seminary to be divided into sections, one for history, one for politics, and one for economics. Admission to the pro-Seminary will be conditioned upon a student’s obtaining in the Junior year courses in the Department the standing prescribed for entrance upon pro-seminary work….Professor Meeker will have charge of the economics section; and Industrial Organizations of Capital and of Labor will be the subjects of study, first and second term respectively.

 

GRADUATE COURSES

ECONOMICS

133. History of Economic Theory. Early economic theory through Adam Smith. A study of Mercantilist and Physiocratic thought, and the work of Adam Smith, preceded by a brief resumé of ancient and mediaeval economic ideas. Three hours a week, first term. Given 1909-10. Professor [sic] Adriance [Walter Maxwell Adriance, A.M., Preceptor in History, Politics and Economics].

134. History of Economic Theory. The classical economists through J. S. Mill and Cairnes. Beginning with Malthus, the concrete problems in which the classical English political economy arose are taken up for study. The theory of Distribution in particular is traced in the Ricardian economics and down through the Wage-Fund theory. Three hours a week, second term. Given 1909-10. Professor Daniels [Winthrop More Daniels, A.M.].

135. History of Economic Theory. The modern movement in Economics, beginning with Jevons and the Austrian school, down through the modern critical analysis of the nature of capital, interest, and the process of Distribution. Three hours a week, first term. Given 1910-11. Professor Daniels [Winthrop More Daniels, A.M.].

136. Statistics. Modern methods of statistical investigation and their results; with problems in practical statistical work. Three hours a week, second term. Give 1910-11. Professor Adriance [Walter Maxwell Adriance, A.M., Preceptor in History, Politics and Economics].

137, 138. Economic History. This course is designed to give a general account of the economic development of the United States. Beginning with the explorations and settlements that led to the colonization of the continent, will be traced the growth of industry, agriculture, commerce, transportation, population, and labor, from the simple, isolated agricultural communities of the colonies to the complex industrial and commercial society of today. The principal topics discussed will be the land policy, the westward movement, internal improvements, the factory system, slavery, the tariff, immigration, the national finances, etc. A brief survey of the economic history of the industrially most developed European nations will also be given in so far as it is necessary to a complete understanding of the economic development of the United States. The lectures will be supplemented by assigned reading, and a thesis will be prepared by each student during the year on at least one subject. Three hours a week, both terms.

139. Modern Industrial Organization. Organization of Labor. A study of the development of labor organizations, the changes in the legal concepts of labor combinations, conspiracy, strikes, monopoly, boycott, etc., and the aims and methods of trades-unions today. Three hours a week, first term. Given 1909-10. Professor Meeker [Royal Meeker, Ph.D.].

140. Modern Industrial Organization. Organization of Capital. A study of modern industrial methods, the growth of large-scale industry, culminating in the recent Trust development and the effects of this movement industrial, political, and social. Three hours a week, second term. Given 1909-10. Professor Meeker [Royal Meeker, Ph.D.].

141, 142. History and Theory of Transportation. A survey of the improvements in methods and instruments of transportation and the consequent changes in the legal and economic theories relating thereto. A reading knowledge of French and German will be desirable. Three hours a week, both terms, alternating with Courses 139, 140. Given 1910-11. Professor Meeker [Royal Meeker, Ph.D.].

 

Source: Department of History, Politics and Economics. Announcements for 1910-11. Official Register of Princeton University, Vol. I, No. 8 (March 15, 1910).

Image Source:   Princeton University (ca. 1909 photo). Library of Congress Prints and Photographs Division Washington, D.C.

 

 

 

 

Categories
Exam Questions Harvard

Harvard. Exams on socio-economic conditions of working people. Edward Cummings, 1893

 

This post piggybacks on the previous one. I suppose it comes as no surprise that instructors for courses on socialism also typically taught courses in labor economics and/or sociology. Edward Cummings covered these courses in the Harvard economics department at the end of the nineteenth century. Below I have transcribed the examination questions for his course “The Social and Economic Condition of Workingmen in the United States and in other Countries” from 1892-93. As for the previous post, I have added links to the works that are directly cited in the examination questions. Until I come across notes for his course or a syllabus, these links provide a peek into the material taught to Cummings’ students.

The examinations for the academic year for 1893-94 have been transcribed for an earlier post.

____________________

Enrollment

[Economics] 9. Mr. Cummings.—The Social and Economic Condition of Workingmen in the United States and in other countries. 3 hours.

Total 24: 3 Graduates, 10 Seniors, 7 Juniors, 4 Others.

Source: Harvard University. Report of the President of Harvard College 1892-1893, p. 68.

_____________________

ECONOMICS 9.
Mid-Year Examination (1893)

[Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries. Omit two questions.]

  1. “In a society adjusted to manual labor, it is absolutely impossible that a labor problem, as a class problem, should take its origin; but in a society adjusted to machinery, provided the English law of property be maintained, the development of class lines will surely make its appearance in industries.”
    State fully your reasons for agreeing or disagreeing with these assertions.
    [Henry Carter Adams. An Interpretation of the Social Movements of our Time. International Journal of Ethics, Vol. 2 (October, 1891), pp. 39-40.]
  2. “First, government must regulate the plane of competition, for without legal regulation the struggle between men for commercial supremacy will surely force society to the level of the most immoral man who can maintain himself.”
    What evidence does the history of factory legislation furnish upon these points?
    [Henry Carter Adams. An Interpretation of the Social Movements of our Time. International Journal of Ethics, Vol. 2 (October, 1891), p. 43.]
  3. Comment upon the following passage: “The object held in view by workmen, when they organized themselves into unions, was to gain again that control over the conditions of labor which they lost when machinery took the place of tools.”
    [Henry Carter Adams. An Interpretation of the Social Movements of our Time. International Journal of Ethics, Vol. 2 (October, 1891), p. 48.]
  4. “The English public has had the courage and strength to leave workingmen’s associations full freedom of movement, at the risk even of temporary excesses and acts of violence, such as at one time stained the annals of trades-unions.” Explain.
    How far is this true of France? Of the United States?
    [Josef Maria Baernreither. English Associations of Working Men. (London, 1891), p. 143]
  5. Describe briefly the origin, growth, and present tendencies of the English Friendly Society movement.
    [Josef Maria Baernreither. English Associations of Working Men. Part II. Friendly Societies (London, 1891), pp. 155-337.]
  6. To what extent do trade organizations and friendly societies constitute an aristocracy of labor?
    [Josef Maria Baernreither. English Associations of Working Men. (London, 1891), pp. 20ff.]
  7. To what forms of remuneration can the evils of “sweating” be traced?
    [David Frederick Schloss, Methods of Industrial Remuneration. (New York, 1892), especially Chapter XIV. On the Objections Entertained to the “Method” of Sub-Contract; and Herein of “The Sweating System, 122-135.]
  8. “The aim of Coöperation is at the same time the aim of Trade Unionism.” In what sense?
  9. Sketch briefly the course of factory legislation during the present century either in England or in the United States.
    [This is a guess: though clearly would provide sufficient information to provide the English history. The English Factory Legislation from 1802 till the Present Time by Ernst von Plener (London, 1873).]
  10. Comment on the following passage: “the fact that the ignorant masses are enabled by the factory to engage in what it once took skilled labor to perform has given the widespread impression that factory labor has degraded the skilled, when in truth it has lifted the unskilled; and this is the inevitable result of the factory everywhere.”
    [United States Census Office. 10th Census, 1880. Report on the Factory System of the United States by Carroll D. Wright (Washington, D.C., 1884) p. 34.]

Source: Harvard University Archives. Harvard University Mid-year examinations 1852-1943. Box 3, Vol. Examination Papers, Mid-Year 1892-93.

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ECONOMICS 9.
Final Examination (June, 1893)

[Arrange your answers in the order in which the questions stand. So far as possible illustrate your discussions by a comparison of the experience of different countries. Omit two questions.]

  1. How is the burden of contribution distributed in each of the three departments of the German system of compulsory insurance? What theoretical or practical objections have you to the system?
  2. “In England especially the State is not in a position to compete effectively with energetic Insurance Companies or with the Friendly Societies, pulsating with the vigour of social life; and still less can it so compete when hampered by restrictions which handicap its powers.” Discuss the evidence on this point furnished by English experience with government workingmen’s insurance. Are there any indications that German ideas are gaining ground in England?
    [Josef Maria Baernreither. English Associations of Working Men. (London, 1891), pp. 348-349.]
  3. “What, we will ask, is the relation of Profit-sharing to the ordinary wage system; and to what extent does Profit-sharing constitute an improvement upon the ordinary wage system?” Are there grounds for the assertion that Profit-sharing is “inferior in point of equity and expediency to the ordinary non-coöperative wage system”?
    [David Frederick Schloss. Methods of Industrial Remuneration. (New York, 1892), especially Chapter XXII, Critical Examination of the Method of Profit-Sharing, 195.]
  4. “Besides the militant trade unionist workmen, that very shrewd class of workingmen, the coöperators, regard Profit-sharing with marked disapprobation; so much so that, although Profit-sharing forms and essential part of the professed principles of Industrial Coöperation, yet by far the greater part of Industrial Coöperation is carried on upon the system of altogether excluding the employees from participation in profits.” What are the facts referred to, and how do you account for them?
    [David Frederick Schloss. Methods of Industrial Remuneration. (New York, 1892), especially Chapter XXII, Critical Examination of the Method of Profit-Sharing, 199.]
  5. “Here it is necessary to interpolate a protest against the assertion almost universally made by previous writers on this subject, that ‘Industrial Coöperation has succeeded in distribution, but has failed in production,’— an assertion generally coupled with the explanation that ‘production’ is too difficult to be, as yet, undertaken by workingmen.” What are the facts?
    [David Frederick Schloss. Methods of Industrial Remuneration. (New York, 1892), especially Chapter XXVII, Critical Examination of the Theory of Industrial Co-operation, p. 233.]
  6. “But the enthusiastic Coöperator will ask: why not develop the voluntary system of democratic Coöperation until it embraces the whole field of industry?” Why do you conceive to be the economic limits to such extension by consumers’ associations?
    [Beatrice Potter (Webb). The Co-operative Movement in Great Britain. Chapter VIII, Conclusion (1891) p. 225.]
  7. “Having considered the social and economic position of workers in the coal, iron and steel industries in several countries, let us now by proper combination ascertain the average conditions prevailing in the two continents.” What are the probably conclusions to be drawn from these comparative statistics of family budgets in the United States and other countries?
    [Elgin Ralston Lovell Gould. The Social Condition of Labor (Baltimore: January, 1893), p. 24.]
  8. “The Hungarians, Italians, Bohemians and Poles, who throng our gates give most concern…Up to the present time there seems no ground to fear that such new comers have wielded a depressing influence. There seems rather reason for congratulation in the fact that instead of their having lowered the American standard of living, the American standard of life has been raising them.” Discuss the evidence. What light do recent change in the character and volume of immigration from different countries throw on this problem?
    [Elgin Ralston Lovell Gould. The Social Condition of Labor (Baltimore: January, 1893), p. 38.]
  9. Indicate briefly the course of short-hour legislation in Massachusetts. How does it compare with the legislation in other states and other countries?
  10. Indicate carefully how far there has been any approximation to compulsory arbitration in Massachusetts; in New York; in other countries. What are the objections to compulsory arbitration?
  11. What do you conceive to be the significance of the Farmers’ Alliance and the Single Tax movements in the United States? And how are they related to each other?
  12. Precisely what evidence is there for and against the contention that the employment of “private armed forces” has been largely responsible for violence and bloodshed during strikes? Give concrete examples.

Source:Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 4, Vol. Examination Papers, 1893-95. Papers set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College (June, 1893), pp. 40-42.

Image Source: University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol II (1899), pp. 155-156.

Categories
Exam Questions Harvard Socialism Sociology

Harvard. Exams for Political Sociology and Socialism, Cummings, 1893

 

 

Examinations from Edward Cummings’ Harvard courses on socialism and communism 1893-1900 have been transcribed and posted earlier. Biographical information about him from 1899 has also been posted.

Thanks to Cummings’ examination style that used exact citations from the literature for students to explain or comment upon, I was able to reverse-engineer some of the key readings that were either assigned or discussed in class. Links to those readings follow the individual examination questions.

___________________

Enrollment

[Economics] 3. Mr. Cummings.—The Principles of Sociology. —Development of the Modern State, and of its Social Functions. 3 hours.

Total 22: 5 Graduates, 9 Seniors, 4 Juniors, 1 Sophomore, 3 Others.

Source:  Harvard University. Report of the President of Harvard College 1892-1893, p. 67.

 

ECONOMICS 3
Mid-Year Examination (1893)

Answer the questions in the order in which they stand. Omit two.

  1. “We have just seen that a one-sided application of the conception that society is of organic growth leads to difficulties, as well as the conception of artificial making. These we can only escape by recognizing a truth which includes them both.”
    What are these difficulties, and what is this truth?
    [David George Ritschie. The Principles of State Interference. Chapter 1, Herbert Spencer’s Individualism and his Conception of Society (London, 1891), pp. 49-50]
  2. “If societies have evolved, and if that mutual dependence of parts which coöperation implies, has been gradually reached, then the implication is that however unlike their developed structures may become, there is a rudimentary structure with which they all set out.”
    What evidence do you find of such a structure?
    [Herbert Spencer. The Principles of Sociology, Vol. 2, Chapter 5, Political Forms and Forces (New York, 1883), p. 311]
  3. According to Aristotle, “Man is by nature a political animal.” According to Thomas Aquinas, “homo est animal sociale et politicum.” How far is this insertion of “sociale” alongside of “politicum” significant of the different way in which the State presented itself to the mind of the Greek and to the mind of the mediaeval philosopher?
    [David George Ritschie. The Principles of State Interference. Appendix Note A: The Distinction between Society and the State (London, 1891), p. 157]
  4. “The theory of the social contract belongs in an especial manner to the political philosophers of the seventeenth and eighteenth centuries. But it did not originate with them. It had its roots in the popular consciousness of mediaeval society. As a philosophical theory, it had already been anticipated by the Greek Sophists.”
    Indicate briefly some of the important changes which the doctrine underwent.
    [David George Ritschie. Contributions to the History of the Social Contract Theory, Vol. 6 Political Science Quarterly (1891), p. 656.]
  5. “In primitive societies the person does not exist, or exists only potentially, or, as we might say, in spe. The person is the product of the State.” Explain. What is the theoretical and historical justification of this doctrine, as against the contention that the individual loses what the State gains?
    [David George Ritschie. The Principles of State Interference. Chapter 1, Herbert Spencer’s Individualism and his Conception of Society (London, 1891), p. 29.]
  6. Discuss the relative preponderance of free and of un-free elements at different stages of social development.
  7. It has been remarked by Spencer that those domestic relations which are ethically the highest, are also biologically and sociologically the highest. Discuss the historical evidence on this point. What is the test of this ethical superiority?
    [Herbert Spencer. The Principles of Sociology, Vol. 1, Part III, Chapter 2, The Diverse Interests of the Species, of the Parents, and of the Offspring (New York, 1883), p. 630]
  8. To what extent is there ground for saying that the influence of militant and of industrial organization is traceable in the status of women and the duration of marriage in the United States and in other countries?
    [Herbert Spencer. The Principles of Sociology, Vol. 1, Part III, Chapter 10, The Status of Women (New York, 1883), p. 765]
  9. “We find ourselves applying the ideal of a Greek city to our vast and heterogeneous modern political structures—a tremendous extension of the difficulties. If we are not more successful than the Greeks, the task is greater and the aim higher.” Explain.
    [Frederick Pollock. The History of the Science of Politics, (1883), p. 13. Originally published serially in the Fortnightly Review (August 1882—January 1883).]
  10. “The unit of an ancient society was the family, of a modern society the individual.”
    Describe the tendencies which have brought about this change.
    [David George Ritschie. The Principles of State Interference. Chapter 1, Herbert Spencer’s Individualism and his Conception of Society (London, 1891), p. 30.]
  11. “The ultimate responsibility of the ultimate political sovereign is a question for the philosophy of history; in other words, one may say it is a matter of ‘natural selection.’” Explain.
    [David George Ritschie. The Principles of State Interference. Appendix Note B: The Conception of Sovereignty (London, 1891), pp. 165-166.]
  12. What is your criterion of social progress? Why?

Source: Harvard University Archives. Harvard University Mid-year examinations 1852-1943. Box 3, Vol. Examination Papers, Mid-Year 1892-93.

 

ECONOMICS 3
Final Examination (June, 1893)

[Answer the questions in the order in which they stand. Omit one.]

  1. “The different forms of the State are specifically divided, as Aristotle recognized, by the different conceptions of the distinction between government and subjects, especially by the quality (not the quantity) of the ruler.” Explain. Indicate briefly the relation of the different forms of the State to one another.
    [Johann Caspar Bluntschli. The Theory of the State (translation from 6th German edition), Chapter IV, The Principle of the Four Fundamental Forms of the State (Oxford, 1885), p. 318.]
  2. “If there is any one principle which is clearly grasped in the present day, it is that political power is a public duty as well as a public right, that it belongs to the political existence of life of the whole nation, and that it can never be regarded as the property or personal right of an individual.” How far did this principle secure recognition in Greek, in Roman, and in mediaeval times?
    [Johann Caspar Bluntschli. The Theory of the State (translation from 6th German edition), Chapter XIV, Constitutional Monarchy (Oxford, 1885), p. 398.]
  3. “The past seems to prove that kings and aristocracies make States, and that left to themselves, the people unmake them.” State carefully your reasons for agreeing or disagreeing with the political philosophy here involved.
    [Paul Leroy-Beaulieu. The Modern State in Relation to Society and the Individual. (London, 1891), p. 100.]
  4. “This one of the curious phases of the railway problem in Europe, which has a tendency to show how multiform and various are the influences at work to modify and change the conditions of the railway problem, and how little can be gathered from mere government documents and laws to shed light upon this most interesting and intricate of all modern industrial questions.” What light does Italian, French and Austrian experience with railroads throw on the general question of State control?
    [Simon Sterne. Some Curious Phases of the Railway Question in Europe. Quarterly Journal of Economics, Vol. 1, No. 4 (July, 1887), p. 468.]
  5. “Expediency and the results of experience must determine how far to go. They seem to justify public ownership of gas works, water works and electric lights. The same would doubtless be true of the telegraph and telephone.” Discuss the evidence.
    [From conclusion of Edward W. Bemis. Municipal Gas Works in The Chautauquan, Vol. 16, no. 1 (October 1892), pp. 15-18. Cf. his Municipal Ownership of Gas in the United States published by the American Economic Association, Publications Vol. VI, Nos. 4 and 5 (July and September, 1891).]
  6. “We will first concentrate our attention on the economic kernel of socialism, setting aside for the moment the transitory aspect it bears in the hands of agitators, its provisional passwords, and the phenomena and tendencies in religion by which it is accompanied.” State and criticize this “economic kernel.”
    [Albert Schäffle. The Quintessence of Socialism, 3rd edition (London, 1891), p. 3]
  7. “The philanthropic and experimental forms of socialism, which played a conspicuous role before 1848, perished then in the wreck of the Revolution, and have never risen to life again.” What were the characteristics of these earlier forms; and what was their relation to the movements which preceded them and followed them?
    [John Rae. Contemporary Socialism. Chapter 1, Introductory (London, 1884), p. 2]
  8. How are the socialistic teachings of Lasalle and Marx related to the economic doctrines of Smith and Ricardo?
    [John Rae. Contemporary Socialism. Chapter 2, Ferdinand Lassalle; Chapter 3, Karl Marx (London, 1884)]
  9. What ground do you find for or against the contention that “socialism is the economic complement of democracy”?
    [E.g., Thomas Kirkup. An Inquiry into Socialism (London, 1887), p. 184; or his A History of Socialism, (London: 1892) p. 8.]
  10. “Not only material security, but the perfection of human social life is what we aim at in that organized co-operation of many men’s lives and works which is called the State…..But where does protection leave off and interference begin?
    [Frederick Pollock. The History of the Science of Politics, (1883), p. 49. Originally published serially in the Fortnightly Review (August 1882—January 1883).]

 

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 4, Vol. Examination Papers, 1893-95. Papers set for Final Examinations in Philosophy, History, Government and Law, Economics, Fine Arts, and Music in Harvard College (June, 1893), pp. 36-37.

Image Source: University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol II (1899), pp. 155-156.

Categories
Exam Questions Harvard Socialism

Harvard. Socialism exams. John Graham Brooks, 1890-1891

 

According to the annual Report of the President of Harvard College for 1889/90 and 1890/91, “Prof. Taussig and Mr. Brooks” were the instructors for the course Political Economy 2. This post is dedicated to the second term of the Political Economy 2 in those years that was devoted to economic theories of socialism and taught by John Graham Brooks.  Four boxes of Brooks’ papers are to be found at the Arthur and Elizabeth Schlesinger Library on the History of Women in America, Radcliffe Institute for Advanced Study, Harvard University. Taussig’s exam scrapbook in the Harvard archives does not include exam questions for the second terms of 1890 and 1891 which is certainly consistent with Brooks being the instructor during the second term.

This post provides biographical information for John Graham Brooks followed by transcriptions of his two examinations.

Incidentally, W.E.B. Dubois was enrolled in Economics 2 in 1890/91 as a graduate student and was awarded a grade of A during the first term (one of six awarded to the twenty-two who received grades,  as recorded in Taussig’s scrapbook).

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Harvard Career

John Graham Brooks (see S.T.B. 1875), Lectr. On Socialism 1885-1886; Instr. in Political Economy 1898-1891.

Source: Harvard University. Quinquennial catalogue of the officers and graduates, 1636-1925, p. 45.

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Brief biography

John Graham Brooks attended the University of Michigan Law School for a short time, before changing his mind about being a lawyer. He then attended Oberlin College and Harvard Divinity School, graduating in 1875. Brooks was then ordained as a Unitarian Universalist minister, preaching at a church in Massachusetts and speaking on the issues of the working poor. In 1882, Brooks resigned from his position as a minister and began studying history and economics at several German universities. He and his family then lived in London for a while, where Brooks lectured about the working class. He then returned to Massachusetts and preaching, while continuing to lecture about socialism and the lives of the working class. He also wrote articles for The Forum and The Nation. In 1891 he became an investigator of the conditions of workers for the U.S. Department of Labor, which led to him writing a book, The Social Unrest: Studies in Labor and Socialist Movements. Brooks wrote other books as well, in which he discussed class struggles. In 1904, he was the president of the American Social Science Association, and from 1899 to 1915 he was the first president of the National Consumers’ League.

Source: Brooks, John Graham (1846-1938) at the digital edition of the Jane Addams Papers Project.

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Boston Globe Obituary
February 9, 1938. Page 17.

JOHN G. BROOKS, 91,
ECONOMIST IS DEAD

Former Harvard Teacher,
Once Unitarian Cleric

John Graham Brooks, 91, labor champion, sociologist and political authority, died yesterday at his home at 8 Francis av., Cambridge.

During the early part of the century, he was extremely active as a friend of labor and a prolific lecturer throughout the country and in many universities on political and social economy.

He was born in Ackworth, N.H., and prepared for college in country schools. He was graduated from Oberlin College in 1872 and from the Harvard Divinity School in 1875. He added to his education the following three years with courses at the Universities of Berlin, Jena and Freiburg.

Returning to this country, he entered the ministry as associate pastor with Dr. George Putnam at the Unitarian Church in Roxbury and later was for six years pastor of the Unitarian Church of Brockton. At the same time he conducted courses at Harvard on economic subjects.

Leaving the ministry in 1890. he devoted the major part of his time to investigations and lectures on political science and social economy. For several years he was lecturer for the extension departments of the Universities of Chicago and of California. He was for two years the expert of the United States Department of Labor, and compiled for that department, in 1893, an exhaustive report on workmen’s insurance in Germany, and since that time continued to lecture on economic and sociological subjects all over the United States, especially at the People’s Institute in New York. As an author his best-known works are “The Social Unrest,” “As Others See Us” and “An American Citizen [Life of William Henry Baldwin, Jr.].”

Prof. Brooks served as president on the American Social Science Association, and president of the National Consumers’ League and a member of the national committee on child labor. He was a member of the famous committee of 50, which, under the lead of Pres. Eliot of Harvard, made an investigation of the workings of the Gothenburg system of dealing with the liquor traffic.

In 1908 Prof. Brooks lectured with now Supreme Court Justice Louis D. Brandeis on the old age pension problems and at the time expressed some pessimism over the systems then in use.

In recent years, Mr. Brooks has been in retirement, little in public life.

He is survived by a wife, Mrs. Helen Lawrence Brooks; a son, Lawrence Brooks, and four grandchildren.

 

[Other books:

American Syndicalism: The I.W.W. New York: Macmillan, 1913.

Labor’s Challenge to the Social Order: Democracy its own Critic and Educator. New York: Macmillan, 1920.]

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Enrollment 1889-90

[Political Economy] 2. History of Economic Theory. First half-year: Lectures on the History of Economic Theory.—Discussion of selections from Adam Smith and Ricardo.—Topics in distribution, with special reference to wages and managers’ returns.—Second half-year: Modern Socialism in France, Germany, and England.—an extended thesis from each student. Prof. Taussig and Mr. Brooks.

Total 24: 7 Seniors, 12 Juniors, 1 Sophomore, 4 Others.

Source: Harvard University. Report of the President of Harvard College, 1889-90, p. 80.

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Political Economy 2.
Year-end Examination, June 1890.

  1. Characterize French Socialism, chiefly with reference to St. Simon and Louis Blanc.
  2. What general differences do you note between French and German Socialism?
  3. Summarize Lasalle’s theory of history development.
  4. State and criticize in detail Marx’s theory of surplus value. What follows as to Socialism, if this theory fails?
  5. Is Schaeffle a Socialist? If so, why? If not, why not?
  6. State the present attitude of English Socialism, with special reference to the Fabian Society. Note the most important changes from the Marx type.
  7. In what definite ways would Socialism modify the system of private property?

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 3, Vol. Examination Papers, 1890-92. Papers set for Final Examinations in Philosophy, Political Economy, History, Roman Law, Fine Arts, and Music in Harvard College (June, 1890), pp. 11-12.

_____________________

Enrollment 1890-91

For Graduates and Undergraduates:—

[Political Economy] 2. Professor Taussig and Mr. Brooks. — History of Economic Theory. — Examination of selections from Leading Writers. — Socialism. 3 hours.

Total 23: 4 Graduates, 10 Seniors, 8 Juniors, 1 Other.

Source:   Harvard University, Annual Reports of the President and Treasurer of Harvard College, 1890-91, p. 58.

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Political Economy 2.
Year-end Examination, June 1891.

  1. From Rousseau to the Fabians, what have been the chief historic changes in the Philosophy of Socialism?
  2. What was Lassalle’s conception of historic development?
  3. In detail, state the differences between the Marx type of Socialism and that of the Fabians.
  4. With reference to the “three rents” what are the most important objections to Socialism?
  5. What reasons can you give to show that Socialism is likely to have much further development in our society?

Source: Harvard University Archives. Harvard University Examination papers, 1873-1915. Box 3, Vol. Examination Papers, 1890-92. Papers set for Final Examinations in Philosophy, Political Economy, History, Roman Law, Fine Arts, and Music in Harvard College (June, 1891), p. 11.

Image Source: The Bookman vol. 27 (March-August, 1908), p. 119.

 

Categories
Economics Programs Johns Hopkins

John Hopkins. Economics Ph.D. completion rate, years to completion. 1956-1970

 

 

I have a sneaking suspicion that the numbers in this table (that come from archived departmental statistics) need to be transformed to adjust for  incomplete “spells” of graduate work reported for the most recent cohorts (e.g. 1967/8 through 1969/70) that are apparently included with the completed “spells” and program drop-outs in order to get a proper estimate of the completion rate and the distribution of times to completion for the Ph.D. It has been years since I made this sort of calculation for the distribution of unemployment spells by duration, so I’ll just leave this as an exercise for readers.

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JOHNS HOPKINS UNIVERSITY
Political Economy Department
Fall 1970

DISTRIBUTION OF GRADUATE STUDENTS ENTERING SINCE JULY 1956, SHOWING IN COLUMN (3) THE PERCENTAGE OF ALL ENTERING STUDENTS WHO TAKE THE Ph.D. WITHIN 1, 2, 3, 4, 5, 6, and 7 and more YEARS AFTER STARTING GRADUATE WORK AT HOPKINS

 

Year since
starting
graduate
work at
Hopkins a
Percentage of all entering students who took the Ph.D. during that yearb
Col. (6) – Col. (5)
Cumulative percentage from
Col. (2)c
Academic years during which the represented students entered Hopkins Number of students who entered during the years in Col. (4) Number of those in
Col. (5) who took the Ph.D. during the year given in
Col. (1)

(1)

(2) (3) (4) (5) (6)
1st 56/7 thru 69/70 198

0

2nd

1.7% 1.7% 56/7 thru 68/9 176 3
3rd 6.8% 8.5% 56/7 thru 67/8 162

11

4th

14.0% 22.5% 56/7 thru 66/7 145 20
5th 4.5% 27% 56/7 thru 65/6 132

6

6th

8.0% 35% 56/7 thru 64/5 118 8
7th & more 6.0% 41% 56/7 thru 63/4 108

6

a Not counting any previous graduate work elsewhere

b Including those who completed requirements by October at the end of the year given in Col. (1).

c About 59% (i.e. 100% — the total of 41%) of entering students do not take the Ph.D.

 

Source: Johns Hopkins University. Eisenhower Library. Ferdinand Hamburger, Jr. Archives. Department of Political Economy Papers. Series 5, Box 6, Folder “Statistical Information (Dept, University National, 1927, 1956-1972”.