Categories
AEA Bibliography

American Economic Association. Monographs: 1886-1896

 

Besides transcribing and curating archival content for Economics in the Rear-view Mirror, I occasionally put together collections of links to books and other items of interest on pages or posts that constitute my “personal” virtual economics reference library. In this post you will find links to early monographs/papers published by the American Economic Association. 

Links to the contents of the four volumes of AEA Economic Studies, 1896-1899 have also been posted.

A few other useful collections:

The virtual rare-book reading room (classic works of economics up to 1900)

The Twentieth Century Economics Library

Laughlin’s recommended teacher’s library of economics (1887)

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PUBLICATIONS OF THE AMERICAN ECONOMIC ASSOCIATION. MONOGRAPHS.
1886-1896

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General Contents and Index to Volumes I-XI.
Source: Publications of the American Economic Association, Vol XI (1896). Price 25 cents.

VOLUME I

No. 1 (Mar. 1886). Report of the Organization of the American Economic Association. By Richard T. Ely, Ph.D., Secretary. Price 50 cents.

Nos. 2 and 3 (May-Jul. 1886). The Relation of the Modern Municipality to the Gas Supply. By Edmund J. James, Ph.D. Price 75 cents.

No. 4 (Sep. 1886). Co-öperation in a Western City. By Albert Shaw, Ph.D. Price 75 cents.

No. 5 (Nov. 1886). Co-öperation in New England. By Edward W. Bemis, Ph.D. Price 75 cents.

No. 6 (Jan. 1887). Relation of the State to Industrial Action. By Henry C. Adams, Ph.D. Price 75 cents.

 

VOLUME II

No. 1 (Mar. 1887). Three Phases of Co-öperation in the West. By Amos G. Warner, Ph.D. Price 75 cents.

No. 2 (May 1887). Historical Sketch of the Finances of Pennsylvania. By T. K. Worthington, Ph.D. Price 75 cents.

No. 3 (Jul. 1887). The Railway Question. By Edmund J. James, Ph.D. Price 75 cents.

No. 4 (Sep. 1887). The Early History of the English Woolen Industry. By William J. Ashley, M.A. Price 75 cents.

No. 5 (Nov. 1887). Two Chapters on the Mediaeval Guilds of England. By Edwin R. A. Seligman, Ph.D. Price 75 cents.

No. 6 (Jan. 1888). The Relation of Modern Municipalities to Quasi-Public Works. By H. C. Adams, George W. Knight, Davis R. Dewey, Charles Moore, Frank J. Goodnow and Arthur Yager. Price 75 cents.

 

VOLUME III

No. 1 (Mar. 1888). Three Papers Read at Meeting in Boston: “The Study of Statistics in Colleges,” by Carroll D. Wright; “The Sociological Character of Political Economy,” by Franklyn H. Giddings; “Some Considerations on the Legal-Tender Decisions,” by Edmund J. James. Price 75 cents.

No. 2 (May 1888). Capital and its Earnings. By John B. Clark, A.M. Price 75 cents.

No. 3 (Jul. 1888) consists of three parts: “Efforts of the Manual Laboring Class to Better Their Condition,” by Francis A. Walker; “Mine Labor in the Hocking Valley,” by Edward W. Bemis, Ph.D.; “Report of the Second Annual Meeting,” by Richard T. Ely, Secretary. Price 75 cents.

Nos. 4 and 5 (Sep.-Nov. 1888). Statistics and Economics. By Richmond Mayo-Smith, A.M. Price $1.00.

No. 6 (Jan. 1889). The Stability of Prices. By Simon N. Patten, Ph.D. Price 75 cents.

 

VOLUME IV

No. 1 (Mar. 1889). Contributions to the Wages Question: “The Theory of Wages,” by Stuart Wood, Ph.D.; “The Possibility of a Scientific Law of Wages,” by John B. Clark, A.M. Price 75 cents.

No. 2 (Apr. 1889). Socialism in England. By Sidney Webb, LL.B. Price 75 cents.

No. 3 (May. 1889). Road Legislation for the American State. By Jeremiah W. Jenks, Ph.D. Price 75 cents.

No. 4 (Jul. 1889). Report of the Proceedings of Third Annual Meeting of the American Economic Association, by Richard T. Ely, Secretary; with addresses by Dr. William Pepper and Francis A. Walker. Price 75 cents.

No. 5 (Sep. 1889). Three Papers Read at Third Annual Meeting: “Malthus and Ricardo,” by Simon N. Patten; “The Study of Statistics,” by Davis R. Dewey, and “Analysis in Political Economy,” by William W. Folwell. Price 75 cents.

No. 6 (Nov. 1889). An Honest Dollar. By E. Benjamin Andrews. Price 75 cents.

 

VOLUME V

No. 1 (Jan. 1890). The Industrial Transition in Japan. By Yeijiro Ono, Ph.D. Price $1.00.

No. 2 (Mar. 1890). Two Prize Essays on Child-Labor: I. “Child Labor,” by William F. Willoughby, Ph.D.; II. “Child Labor,” by Miss Clare de Graffenried. Price 75 cents.

Nos. 3 and 4 (May-Jul. 1890). Two Papers on the Canal Question. I. By Edmund J. James, Ph.D.; II. By Lewis M. Haupt, A.M., C.E. Price $1.00.

No. 5 (Sep. 1890). History of the New York Property Tax. By John Christopher Schwab, A.M. Ph.D. Price $1.00.

No. 6 (Nov. 1890). The Educational Value of Political Economy. By Simon N. Patten, Ph.D. Price 75 cents.

 

VOLUME VI

No. 1 and 2 (Jan.-Mar. 1891). Report of the Proceedings of the Fourth Annual Meeting of the American Economic Association. Price $1.00.

No. 3 (May 1891). I. “Government Forestry Abroad,” by Gifford Pinchot; II. “The Present Condition of the Forests on the Public Lands,” by Edward A. Bowers; III. “Practicability of an American Forest Administration,” by B. E. Fernow. Price 75 cents.

Nos. 4 and 5 (Jul.-Sep. 1891). Municipal Ownership of Gas in the United States. By Edward W. Bemis, Ph.D. with appendix by W. S. Outerbridge, Jr. Price $1.00.

No. 6 (Nov. 1891). State Railroad Commissions and How They May be Made Effective. By Frederick C. Clark, Ph.D. Price 75 cents.

 

VOLUME VII

No. 1 (Jan. 1892). The Silver Situation in the United States. Ph.D. By Frank W. Taussig, LL.B., Ph.D. Price 75 cents.

Nos. 2 and 3 (Mar.-May 1892). On the Shifting and Incidence of Taxation. By Edwin R.A. Seligman, Ph.D. Price $1.00.

Nos. 4 and 5 (Jul.-Sep. 1892). Sinking Funds. By Edward A. Ross, Ph.D. Price $1.00.

No. 6 (Nov. 1892). The Reciprocity Treaty with Canada of 1854. By Frederick E. Haynes, Ph.D. Price 75 cents.

 

VOLUME VIII

No. 1 (Jan. 1893). Report of the Proceedings of the Fifth Annual Meeting of the American Economic Association. Price 75 cents.

Nos. 2 and 3 (Mar.-May 1893). The Housing of the Poor in American Cities. By Marcus T. Reynolds, Ph.B., M.A. Price $1.00.

Nos. 4 and 5 (Jul.-Sep. 1893). Public Assistance of the Poor in France. By Emily Greene Balch, A.B. Price $1.00.

No. 6 (Nov. 1893). The First Stages of the Tariff Policy of the United States. By William Hill, A.M. Price $1.00.

 

VOLUME IX

No. 1 (Supplement, Jan. 1894). Hand-Book and Report of the Sixth Annual Meeting. Price 50 cents.

Nos. 1 and 2 (Jan.-Mar. 1894). Progressive Taxation in Theory and Practice. By Edwin R.A. Seligman, Ph.D. Price $1.00, cloth $1.50.

No. 3 (May. 1894). The Theory of Transportation. By Charles H. Cooley Price 75 cents.

No. 4 (Aug. 1894). Sir William Petty. A Study in English Economic Literature. By Wilson Lloyd Bevan, M.A., Ph.D. Price 75 cents.

Nos. 5 and 6 (Oct.-Dec. 1894). Papers Read at the Seventh Annual Meeting: “The Modern Appeal to Legal Forces in Economic Life,” (President’s annual address) by John B. Clark, Ph.D.; “The Chicago Strike”, by Carroll D. Wright, LL.D.; “Irregularity of Employment,” by Davis R. Dewey, Ph.D.; “The Papal Encyclical Upon the Labor Question,” by John Graham Brooks; “Population and Capital,” by Arthur T. Hadley, M.A. Price $1.00.

 

VOLUME X

No. 3, Supplement, (Jan. 1895). Hand-Book and Report of the Seventh Annual Meeting. Price 50 cents.

Nos. 1,2 and 3 (Jan.-Mar.-May 1895). The Canadian Banking System, 1817-1890. By Roeliff Morton Breckenridge, Ph.D. Price $1.50; cloth $2.50.

No. 4 (Jul. 1895). Poor Laws of Massachusetts and New York. By John Cummings, Ph.D. Price 75 cents.

Nos. 5 and 6 (Sep.-Nov. 1895). Letters of Ricardo to McCulloch, 1816-1823. Edited, with introduction and annotations by Jacob H. Hollander, Ph.D. Price $1.25; cloth $2.00.

 

VOLUME XI

Nos. 1, 2 and 3 (Jan.-Mar.-May 1896). Race Traits and Tendencies of the American Negro. By Frederick L. Hoffman, F.S.S., Price $1.25; cloth $2.00.

No. 4 (Jul. 1896). Appreciation and Interest. By Irving Fisher, Ph.D., Price 75 cents.

 

Image Source: As of 1909 the former Presidents of the American Economic Association (S. N. Patten in the center, then clockwise from upper left are R. T. Ely, J. B. Clark, J. W. Jenks, F. W. Taussig.) in Reuben G. Thwaites “A Notable Gathering of Scholars,” The Independent, Vol. 68, January 6, 1910, pp. 7-14.

Categories
AEA Bibliography Economists Johns Hopkins

Johns Hopkins. Life and career of economics Ph.D. (1901) alumnus, George Ernest Barnett

 

The economist George E. Barnett (b. 19 February 1873; d. 17 June 1938) was briefly glimpsed in the previous post as one of three colleagues who covered the undergraduate course offerings in economics at the Johns Hopkins University in 1919-20. Unlike many an economics professor who has gone on to relative obscurity, Barnett actually served a term as President of the American Economic Association (1932) that should have been sufficient to double the half-life of his afterlife. Barnett even served on an advisory committee for the director of the national census.

To partially fill in the historical blank, today’s post provides a local obituary that reported Barnett’s suicide, presumably related to a severe, chronic illness. Links to books mentioned in his obituary and a Johns Hopkins’ bibiliography up through 1913 have been included as well. Apparently a more complete bibliography was prepared in 1938.

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J.H.U. Teacher Dies of Wound; Had Been Ill
Dr. George E. Barnett Is Found In Apartment, Pistol Near By
Succumbs at Hospital. Was Expert on Labor Problems, Statistics

Dr. George Ernest Barnett, 65 years old, professor of statistics at the Johns Hopkins University and an international authority on labor problems, was found fatally wounded in the bathroom of his third-floor apartment at 827 Park avenue early today. A .38-caliber revolver lay on the floor near by.

An ambulance was summoned and he was taken to the Johns Hopkins Hospital, where he was pronounced dead a short time later.

Found by Friend

The wounded professor was found by a friend, Dr. Lucien Brun, a dentist with offices on the first floor of the apartment building, and the latter’s secretary. Dr. Brun told Sergt. Lawrence Stevens, Central district officer who investigated the case, that he knew Dr. Barnett had been ill for some time.

The dentist said when he heard a shot from upstairs he and his secretary rushed up to find Dr. Barnett slumped on the floor, a bullet wound in his temple.

Born in Cambridge, Md.

A native of Cambridge, Md., Dr. Barnett graduated from Randolph-Macon College in 1891 with his bachelor’s degree, and was presented with his doctorate by the Johns Hopkins University in 1902 [sic, 1901 appears correct] after teaching school for some years in North Carolina.

He served as instructor, associate and associate professor in economics from 1901 to 1911. Made a full professor in 1911, he has made a special study of labor problems since that time. His studies of labor in the Antipodes were undertaken because he felt the federation type of government in these two countries was so similar to that of the United States that such studies would be appropriate and helpful.

Member of Faculty 37 Years

Dr. Barnett had been a member of the Hopkins faculty for thirty-seven years and had lived for many years at the Park avenue address. His brilliant conversational abilities and his amiable personality had won him hundreds of friends among students, colleagues and a wide circle of Baltimoreans.

His specialization in the field of labor, unionism, arbitration and other labor problems had made him widely known as a scholar and led to his final assignment—a trip to New Zealand and Australia to study the labor arbitration court systems in use in the antipodes.

Granted a year’s leave of absence from the university, he went to New Zealand to begin his studies. He was stricken with a fever, however, and upon medical advice returned to Baltimore to undergo treatment. He remained at the Hopkins Hospital for a time, then moved back into his apartment.

His portly figure was a familiar one as he walked along North Charles street between his residence, the University Club, and the Johns Hopkins University. For many years it was his custom to walk the distance daily, often stopping to talk to a wide range of acquaintances.

Active in Club’s Affairs

For many years, too, he had been a member of the University Club, having his meals there and taking an active part in the affairs of the club.

He was a member of the Hopkins Faculty Club, and the Academic Council of the university.

Dr. Barnett is survived by two brothers, D’Arcy Barnett, of Caldwell, N. J., and Charles Barnett, of Cambridge, Md.

A member of the American Economic Association, the American Statistical Association and the American Association for Labor Legislation, Dr. Barnett has published numerous books in his field.

Wrote Numerous Books

He was the author of “State Banking in the United States,” in 1902; “The Printers,” in 1909; “State Banks and Trust Companies,” in 1911; “Mediation, Investigation and Arbitration in Industrial Disputes,” in 1916, with D. A. McCabe, and “Machinery and Labor,” in 1926.

He also edited “A Trial Bibliography of American Trade Union Publications” in 1904 and was coeditor of “Studies in American Trade Unionism” in 1906. He was a member of the University Club.

Source: The Evening Sun (Baltimore, MD), June 17, 1938

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Barnett, George Ernest.
Bibliography through 1913

A. B., Randolph-Macon College, 1891; fellow in political economy, Johns Hopkins, 1899-1900; instructor in political economy, 1900-1904; Ph. D., 1902 [sic, 1901 appears to be the correct year]; associate in political economy, 1904-1907; associate professor of political economy, 1907-1911; professor of statistics, 1911 —; co-editor of Johns Hopkins Studies, 1908 —. Marshall Prize, Johns Hopkins, 1910.

State Banking in the United States since the Passage of the National Bank Act (J. H. U. Studies, ser. xx, nos. 2-3).

A Method of Determining the Jewish Population of Large Cities in the United States (Publications of the American Jewish Historical Society, 1902, no. 10, pp. 37-45).

The Jewish Population of Maryland (American Jewish Year Book, 1902-1903, pp. 46-62).

The Economic Position of Germany (J. H. U. Circular, p. 80, June, 1902).

The Maryland Workmen’s Compensation Act (Quarterly Journal of Economics, xvi, 591-594, August, 1902).

A Working Bibliography of Trade Unions (J. H. U. Circular, pp. 36-37, April, 1903).

Editor, A Trial Bibliography of American Trade-Union Publications (J. H. U. Studies, ser. xxii, nos. 1-2. Second edition, Baltimore: The Johns Hopkins Press. 1907. Pp.139).

Shop Rules of the International Typographical Union ( J. H. U. Circular, pp. 3-8, May, 1904).

The Introduction of the Linotype (Yale Review, xiii, 251-273, November, 1904).

________ and J. H. Hollander, editors. The Economic Seminary, 1904-1905, 1905-1906, 1906-1907, 1907-1908, 1908-1909, 1909-1910, 1910-1911 (J. H. U. Circular, June, 1905, March, 1906, April, 1907, May, 1908, April, 1909, April, 1910, April, 1911).

The End of the Maryland Workmen’s Compensation Act (Quarterly Journal of Economics, xix, 320-322, February, 1905).

The Origin of the Constitution of the Typographical Union (J. H. U. Circular, pp. 3-6, June, 1905). and J. H. Hollander, editors. Studies in American Trade Unionism (New York: H. Holt and Co. 1906. Pp. v, 380).

The Government of the Typographical Union (Studies in American Trade Unionism, pp. 13-41).

Collective Bargaining in the Typographical Union (Studies in American Trade Unionism, pp. 153-182).

The Standard Wage as a Bargaining Device (J. H. U. Circular, pp. 7-11, March, 1906).

The Budget of the Typographical Union (J. H. U. Circular, pp. 9-12, April, 1907).

Territorial Jurisdiction of the International Typographical Union (J. H. U. Circular, pp. 11-18, May, 1908).

The Printers; A Study in American Trade Unionism (American Economic Association Quarterly, third ser., vol. x, no. 3. Pp. vii, 387. Marshall Prize).

Labor Organization in the South (The South in the Building of the Nation, v, 144-146, vi, 36-40. Richmond, Va.: The Southern Historical Publication Society. [c1909-1913] ).

The State Finances of North Carolina (The South in the Building of the Nation, v, 529-532, vi, 507-511).

Economic Statistics in the South (The South in the Building of the Nation, v, 563-564, vi, 542-545).

The Piece System of Remuneration in the Printing Trade (J. H. U. Circular, pp. 5-11, April, 1909 ).

The Growth of State Banks and Trust Companies (Annals of the American Academy of Political and Social Science, xxxvi, 613-625, November, 1910).

The “One Man Office” and the Typographical Union (J. H. U. Circular, pp. 8-15, April, 1910).

State Banks and Trust Companies since the Passage of the National Bank Act (Publications of National Monetary Commission. 61st Cong., 3d sess. Sen. Doc. No. 659. Pp.366).

Recent Tendencies in State Banking Legislation (Proceedings of the Academy of Political Science in the City of New York, i, 270-284).

The Breaking Down of the Distinctions between the Classes of Banks in the United States (J. H. U. Circular, pp. 8-12, April, 1911).

National and District Systems of Collective Bargaining in the United States (Quarterly Journal of Economics, xxvi, 425-443, May, 1912).

A Documentary History of American Labor (Political Science Quarterly, xxvii, 298-304, June, 1912).

The Dominance of the National Union in American Labor Organization (Quarterly Journal of Economics, xxvii, 455-481, May, 1913).

 

Source: Publications of Members and Graduates of the Departments of History, Political Economy, and Political Science, 1901-1915 (Baltimore: Johns Hopkins Press, 1915), pp. 9-11.

Note: [have not consulted yet]
Lavarello, Angela. Bibliography of the writings of George E. Barnett (Baltimore: Typescript (7 leaves), 1938).  Copy at the University of Illinois at Urbana Champaign.

Image Source: From a portrait of George Ernest Barnett at Johns Hopkins University graphic and pictorial collection.

Categories
Bibliography Columbia Suggested Reading

Columbia. Bibliography on Government Debt for Fiscal Policy Course. Shoup, 1948

 

Government debt was the subject of this first installment of a planned (perhaps completed later) bibliography for a course on fiscal policy that was prepared by Carl Shoup (New York Times obituary). This draft with a few hand-corrections was found in the papers of his colleague in public finance, Robert Haig.

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Economics b160—Fiscal policy. 3 points. Spring Session. Professor Shoup. M. W. 9. 710 Business.

A study of the reasons why governments choose to follow a policy of deficit financing, balanced-budget financing, or surplus financing, as the case may be, with emphasis on the economic forces that influence these decisions and on the economic results of the various policies. Topics discussed include war finance, compensatory spending in a depression, public finance aspects of theories of long-term investment stagnation, and the problems of the interest charge on the budget and the growing stock of money that may be associated with a great increase in the public debt.

Source: Columbia University. Announcement of the Faculty of Political Science for the Winter and Spring Sessions, 1947-1948, p. 50.

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[Pencilled Note: “For Dr. Haig. (Parts II, III, IV to follow)”]

COLUMBIA UNIVERSITY
SCHOOL OF BUSINESS

BIBLIOGRAPHY, ECONOMICS b160,
FISCAL POLICY
February, 1948

This bibliography is divided into four parts, and each part is further divided into sections. The four parts are:

Part I. Government Debt
Part II. Taxation
Part III. Government Expenditures
Part IV. Fiscal Policy in the United States and Abroad in Recent Years

Most of the sections are directly concerned with government debt, taxation, and expenditures; for these sections an attempt has been made to present a fairly comprehensive coverage of the periodical and book literature of the past three or four years. The readings that are particularly important for purposes of the present course are marked with an asterisk. The asterisked readings have been put on reserve in the School of Business library.

A few sections are concerned with topics that are only collateral to fiscal policy: for example, the technique of bank deposit expansion, and data on recent changes in amount of currency outstanding. In these sections the references are highly selective, being designed only to assist the student to refresh his background, or to suggest a minimum of reading.

PART I: GOVERNMENT DEBT

  1. Technique of Credit Creation by the Banking System
  2. Technical Characteristics and Pattern of Ownership of Each Type of Federal Security
  3. Non-Negotiable Securities; Securities Ineligible for Bank Holding
  4. Currency
  5. Gold and Silver
  6. Bank Holdings of Government Bonds, and Data on Bank Deposits
  7. Total Interest Charge on Government Debt
  8. Interest Rates
  9. “Burden” of Debt
  10. Debt Management
  11. Debt Management and Credit Control

 

1. Technique of Credit Creation by the Banking System. –The creation of credit by commercial banks is well described in a general way by Bowman and Bach, Economic Analysis and Public Policy (1943), 589-99; but to get a thorough understanding, the student should read J. Brooke Willis, The Relation of Bank Deposits to War Finance (Chase National Bank, November 18, 1942, mimeographed). A description of the Federal Reserve System is given on pp. 636-53 of Bowman and Bach. See also J. E. Horbett, “Banking Structure of the United States,” in Banking Studies, by members of the staff, Board of Governors, Federal Reserve System (1941). Some brief discussions in the Federal Reserve Bulletin may aid in avoiding elementary misconceptions: “Central Banking” (December 1940), “Federal Reserve Bank Lending Power…” (February 1941), “Bank Credit and…Reserves”- (July 1941), “Bank Deposits [and]…Savings Bonds” (August 1941). An explanation of how credit is created under the British banking system, with particular attention to wartime developments, is given in Norman Crump, Facts about British Banks and the War (1943).

 

2. Technical Characteristics and Pattern of Ownership of Each Type of Federal Security.— The types of security issued by the Federal Government, and the relative importance of each, are given in the monthly Bulletin of the Treasury Department, in the section headed “General Fund Position and Debt Outstanding” (consult any recent issue). Note the names of the different kinds of obligations, their respective interest rates and periods to maturity, as shown in the tables headed “Offerings of Marketable Issues of Treasury Bonds, Notes, and Certificates of Indebtedness” “Offerings and Maturities of Treasury Bills,” “Sales and Redemptions of United States Savings Bonds.—Table 1, Summary…,” and “Sales and Redemptions of Treasury Savings Notes.—Table 1, Summary…” Then study the tables headed “Public Debt and Guaranteed Obligations of the United States Government Outstanding”: “Table 1, Summary;” and “Table 2, Interest-Bearing Public Debt;” then the table headed “Computed Interest Charge and Computed Interest Rate….” Note the data on who owns the federal debt, in the section headed “Ownership of Government Securities.” Study the charts on “Yields of Treasury Securities….”

See also:

Hargreaves, H. W. H., “The Guaranteed Security in Federal Finance,” J.P.E., Aug., 1942.

Mann, F. K., “The Dual-Debt System as a Method of Financing Government Corporations,” J.P.E., Feb., 1947, 39-56.

Simmons, E. C., “The Position of the Treasury Bill in the National Debt,” J.P.E., Aug., 1947, 333-45.

“Treasury Financing Operations,” statement on first page of each issue of Treasury Bulletin in recent issues.

“Direct Exchange of Maturing Treasury Bills for New Issues,” Fed. Res. Bull., May, 1947.

“Treasury Bills and Certificates as Outlets for Idle Funds,” Fed. Res. Bull. July, 1942.

“The Tax Savings Plan,” Red. Res. Bull., Aug., 1941.

 

3. Non-Negotiable Securities; Securities Ineligible for Bank Holding.—

Secretary of the Treasury, “Spreading the Public Debt,” Treasury Bulletin, May, 1947.

Secretary of the Treasury, “The Role of Savings Bonds in Public Debt Management,” Treasury Bulletin, May, 1947.

Tostlebe, A. S., “Estimate of Series E Bond Purchases by Farmers,” J.A.S.A., Sept., 1945.

“Bank Purchases of Restricted Treasury Bonds,” Treasury Bulletin, July, 1946.

 

4. Currency.—The wartime rise in currency is described by G. L. Bach, “Currency in Circulation,” Federal Reserve Bulletin, April, 1944. See also the following unsigned articles in the Federal Reserve Bulletin: “The Currency Function of the Federal Reserve Banks,” July, 1940; “Recent Changes in the Demand for Currency,” April, 1942; and “Relation between Currency and Bank Deposits,” May, 1943.

For a historical treatment: V. M. Longstreet, “Currency System of the U.S.” in Banking Studies, Federal Reserve System, 1941. For terminology; I. B. Cross, “A Note on the Use of the Word ‘Currency,’” J.P.E., December, 1944.

 

5. Gold and Silver.—The vast literature in recent years on the gold situation in general will not be considered here; however, reference by be made to F. D. Graham and C. R. Whittlesey, Golden Avalanche, 1939. For the place of gold in the present U.S. money and credit system, see Bowman and Bach, Economic Analysis and Public Policy, Chapter 42, “Gold and the Price Level,” and a series of notes in the Federal Reserve Bulletin: “Ownership of the Monetary Gold Stock” (May, 1940), “Utilization of the Monetary Gold Stock” (June, 1940), “The Gold Stock” (September, 1940), “Definition of Lawful Money” (July, 1941), and “Money and Inflation” (March, 1944). The Treasury position on gold was stated by Secretary Morgenthau in two press releases, March 23, 1939 (reply to Senator Wagner’s questions) and May 3, 1940 (address before National Institute of Government).

 

6. Bank Holdings of Government Bonds, and Data on Bank Deposits—An appreciation of the quantitative aspects of the bank-credit expansion of the war and postwar years can be obtained from “The Wartime Expansion of Liquid Assets,” Fed. Res. Bull., Oct., 1944, and from “Estimated Liquid Asset Holdings of Individuals and Business,” Fed. Res. Bull., Sept., 1947, and earlier reports on the same subject in the issues of June, 1945; Feb., 1946; and Nov., 1946.

See also:

Robinson, Roland I., “Money Supply and Liquid Asset Formation,” A.E.R., March, 1946.

Warburton, Clark, “Quantity and Frequency of Use of Money in the United States, 1919-45,” J.P.E., Oct., 1946.

“Ownership of Demand Deposits [as of Feb. 26, 1947],” Fed. Res. Bull., June, 1947.

* “Assets and Liabilities of Commercial Banks and Mutual Savings Banks, December 31, 1939-1946.” Treasury Bulletin, July, 1947.

“Measurement of Factors Influencing the Volume of Deposits and Currency,” Fed. Res. Bull., June, 1944.

“Wartime Monetary Expansion and Postwar Needs,” Fed. Res. Bull., Nov. 1945. For the growth in deposits prior to the war, see “Factors Responsible for Increase in Bank Deposits,” Fed. Res. Bull., March, 1941.

 

7. Total Interest Charge on Government Debt.—

“Transfer to Treasury of Excess Earnings of Federal Reserve Banks,” Fed. Res. Bull., May, 1947, 518-19.

Rolph, Earl R., “The Payment of Interest on Series E Bonds,” A.E.A. Proceedings., May, 1947, 318-21.

Shoup, Carl, “Postwar Federal Interest Charge,” A.E.R., Supplement to June, 1944 issue (“Implemental Aspects of Public Finance”).

 

8. Interest Rates.—The average rates (including the case of zero interest) and the structure of interest rates of the public debt are discussed particularly in the following articles. The recent United States experience is analyzed in:

Coleman, G. W., “The Effect of Interest Rate Increases on the Banking System,” A.E.R., Sept. ’45.

Harris, S. E., “A One Per Cent War?” A.E.R., Sept. ’45.

*Samuelson, Paul A., “The Effect of Interest Rate Increases on the Baking System,” A.E.R, March, 1945.

Samuelson, P. A. “The Turn of the Screw [Interest Rates and the Banks],” A.E.R., Sept. ’45.

Seligman, H. L., “The Problem of Excessive Commercial Bank Earnings,” Q.J.E., May, 1946.

*Seltzer, L. H., “Is a Rise in Interest Rates Desirable or Inevitable?” A.E.R., Dec., 1945.

Wallich, Henry C., “The Changing Significance of the Interest Rate,” A.E.R., Dec. 1946.

Willis, J. Brooke, “The Case against the Maintenance of the Wartime Pattern of Yields on Government Securities,” A.E.A. Proceedings, May, 1947.

“Yields on United States Government Securities—Revision of Averages,” Fed. Res. Bull., Oct., 1947.

The wartime position of the United States Treasury on interest rates was stated by Secretary Morgenthau in three addresses printed in the Treasury Bulletin, Nov. 1944.

Recent British discussion includes:

Henderson, H., “Cheap Money and the Budget,” E.J. Sept., ’47.

Paish, F. W., “Cheap Money Policy,” Economica, Aug., 1947.

The particular case of interest-free financing has been the subject of some debate recently; see:

Poindexter, Julius C., Proposals for Interest-Free Deficit Financing. Ph.D. Virginia, 1944 (May be obtained on inter-library loan).

Poindexter, J.C., “Fallacies of Interest-Free Deficit Financing,” Q.J.E., May, 1944.

Wright, D. McC., “Interest-Free Deficit Financing: a Reply,” Q.J.E., Aug., 1944.

Poindexter, J. C., “Interest-Free Deficit Financing: Rejoinder [to Wright’s article],” Q.J.E., Nov. 1945.

Poindexter, J. C., “A Critique of Functional Finance through Quasi-Free Bank Credit,” A.E.R., June, 1946.

Benoit-Smullyan, Emile, “Interest-Free Deficit Financing and Full Employment [Poindexter’s article],” A.E.R., June, 1947.

Pritchard, L. J., “The Nature of Bank Credit [Poindexter’s article]: A Comment,” A.E.R., June, 1947.

In view of the recent changes in the interest rate structure, the forecasts of a few years ago are worth reviewing:

Morgan, E. V., “The Future of Interest Rates,” E.J., Dec., 1944.

Round Table, “The Future of Interest Rates,” A.E.A. Proceedings, March, 1943.

Riddle, J. H., “The Future of Interest Rates,” Bankers Magazine, March, 1943.

 

9. “Burden” of Debt.—Interest and amortization requirements on the public debt lead to a discussion of the degree to which a domestically held debt is a burden. On this topic, see:

*Kalecki, M., “The Burden of the National Debt,” Bull., Oxford Inst. Stat., April 3, 1943.

Ratchford, B. U., “The Burden of a Domestic Debt,” A.E.R., Sept., 1942.

Wright, D. Mc., “Mr. Ratchford on the Burden of a Domestic Debt: Comment,” A.E.R., March, 1943.

*Hansen, A. H., “The Growth and Role of Public Debt,” Ch. IX, especially pp. 135-44, 152-61, 175-85, in Fiscal Policy and Business Cycles.

Harris, S. E., “Postwar Public Debt,” Chapter X in Postwar Economic Problems;

Mitnitzky, Mark, “Some Monetary Aspects of Government Borrowing” A.E.R., March, 1943.

Hahn, A., “Should a Government Debt, Internally Held, Be Called A Debt at All?” Banking Law Journal, July, 1943.

Domar, E. D., “The ‘Burden of the Debt’ and the National Income,” A.E.R., Dec., 1944.

Ratchford, B.U., “Mr. Domar’s ‘Burden of the Debt,” and rejoinder by Domar, A.E.R., June, 1945, 411-14.

 

10. Debt Management.—More comprehensive discussions of the problems posed by the public debt are found in writings on “debt management,” “limits to the debt,” etc. (see also the references in No. 11 below):

*Abbott, Charles C., Management of the Federal Debt, McGraw-Hill, 1946, 187 pp., Rev. in A.E.R., March, ’47.

*Committee on Public Debt Policy, National Debt Series, Nos. 1 to 4 issued in 1947. 12 to 22 pp. each.

Garritsen, Margaret M., Some Theoretical and Practical Problems in the Management of the Federal Debt in the Postwar Period. Ph.D., Mass. Inst. of Tech. 1946. (May be available on inter-library loan.)

*Hansen, A. H., “Federal Debt Policy,” Proceed., N.T.A., 1944, 256-67, 295-97.

Leland, Simeon E., “Management of the Public Debt after the War,” A.E.R., Supplement to the June 1944 issue (“Implemental Aspects of Public Finance”), and discussion by D. T. Smith and L. H. Seltzer.

Leonard, Norman H., Public Debt Management. Ph.D. Yale (no date given). (May be available on inter-library loan.)

Mehta, J. K., “Some Problems of Public Debt,” South Indian Journal of Economics, Feb., 1946.

Neale, E. P., “The Growth of New Zealand’s General Government Debt,” Eco. Record, Dec. 1945.

Neumark, F., “Limite de la dette publique ou deficit permanent?” L’Egypte Contemp., March, 1946.

Ratchford, Benjamin U., “History of the Federal Debt in the United States,” A.E.A. Proceedings, May, 1947, 131-41; discussion by L. Wilmerding Jr. and C. C. Abbott, 151-56.

Suiter, William O., “Some Questions Relative to the Management of the National Government Debt,” Bull. N.T.A., June, 1946.

Wallich, H. C., “La dueda publica y el ingreso nacional de Estados Unidos,” El Trimestre Econ., Jan. and April, 1946.

*Wallich, H. C., “Debt Management as an Instrument of Economic Policy,” A.E.R., June, 1946.

Wickens, Aryness Joy, “The Public Debt and National Income,” A.E.A., Proceedings, May, 1947.

Woodward, Donald B., “Public Debt and Institutions,” A.E.A. Proceedings, May, 1947, 157-83. Discussion by L. H. Seltzer, Susan S. Burr, R. J. Saulnier and E. A. Goldenweiser.

 

11. Debt Management and Credit Control.—The complex relations that link debt management and credit control have received increasing attention in recent years as evidenced by the following articles. The discussion is chiefly in terms of inflationary rather than deflationary conditions.

Abbott, Charles C., “The Commercial Banks and the Public Debt”; discussion by H. H. Preston, A.E.A. Proceedings, May, 1947.

Arndt, H. W., “The Monetary Theory of Deficit Spending: A Comment on …. Warburton’s Article [in RES, 1945, 74-84].” R.E.Stat., May, 1946.

Bach, George L., “Monetary-Fiscal Policy, Debt Policy, and the Price Level,” A.E.A. Proceedings, May, 1947.

Carr, Hobart C., “The Problem of Bank-Held Government Debt,” A.E.R., Dec. 1946.

Chamberlain, N. W., “Professor Hansen’s Fiscal Policy and the Debt”; rejoinder by Hansen, A.E.R., June, 1945.

Cluseau, M., “De quelques definitions necessaires,” Rev. de Sci. et Législ. Fin., April, 1947.

Eccles, M. S., “Sources of Inflationary Pressures,” Fed. Res.Bull., Feb. 1946.

*Eccles, M., “Methods of Restricting Monetization of Public Debt by Banks,” Fed. Res. Bull., April, 1947.

Eccles, M. S., “The Current Inflation Problem—Causes and Controls,” Fed. Res. Bull. Dec., 1947.

Goldenweiser, E. A., “Federal Reserve Objectives and Policies: Retrospect and Prospect,” A.E.R., June 1947.

Hauge, Gabriel, Banking Aspects of Treasury Borrowing in World War II. Ph.D., Harvard, 1947 (Available only on inter-library loan.)

*Hardy, C. O., “Bank Policy versus Fiscal Policy as an Economic Stabilizer,” Proceed. Nat. Tax Assn., 1946.

Lerner, Abba P., “Money as a Creature of the State,” A.E.A. Proceedings, May, 1947.

Mikesell, Raymond F., “Gold Sales as an Anti-Inflationary Device,” R.E.Stat., May, 1946.

Mints, Lloyd W., Hansen, A. H., Ellis, Howard S., Lerner, A. P. and Kalecki, M. “A Symposium on Fiscal and Monetary Policy,” R.E.Stat., May, 1946.

Robinson, R. I., “The Reserve Position of the Federal Reserve Banks,” Fed. Res. Bull., March, 1945.

Seltzer, Lawrence, “The Changed Environment of Monetary-Banking Policy”; discussions by D. B. Woodward and R. A. Young, A.E.A. Proceedings, May, 1946.

*Simons, Henry C., Economic Policy for a Free Society, Univ. of Chicago Press, 1948, 353 pp. espec. Chs. VII, “Rules versus Authorities in Monetary Policy,” VIII, “Hansen on Fiscal Policy,” IX, “On Debt Policy,” X, “Debt Policy and Banking Policy” and XIII, “The Beveridge Plan: an Unsympathetic Interpretation.”

Sproul, Allan, “Monetary Management and Credit Control,” A.E.R., June, 1947.

Sweezy, Alan R., “Fiscal and Monetary Policy”; discussion by J. H. G. Pierson, W. J. Fellner, and Clark Warburton; A.E.A. Proceedings, May, 1946.

Villard, H. H., “The Problem of Bank-Held Government Debt: Comment [on Carr’s article],” A.E.R., Dec. 1947.

Wallace, Robert F., “The Federal Debt and Inflation,” Bull. N.T.A., June, 1947.

Wallich, H. C., “The Current Significance of Liquidity Preference,” Q.J.E., Aug., 1946.

*Warburton, Clark, “The Monetary Theory of Deficit Spending,” R.E.Stat., May, 1945, 74-84.

Warburton, Clark, “Monetary Theory, Full Productivity, and the Great Depression,” Econometrica, April, 1945.

Warburton, Clark, “The Volume of Money,” J.P.E., June 1945.

Whitaker, T. K., Financing by Credit Creation, Dublin, 1947, 67pp. (E.J., Sept. ’47.)

Whittlesey, C. R., “Federal Reserve Policy in Transition,” Q.J.E., May, 1946.

“Treasury Finance and Banking Developments,” Fed. Res. Bull., May, 1946.

* “Debt Retirement and Bank Credit,” Fed. Res. Bull., July, 1947.

 

Source: Columbia University Libraries, Manuscript Collections. Robert M. Haig Collection. Box 16, Folder “Bibliography”.

Image Source: The Columbia Spectator Archive. March 8, 1967.

Categories
Berkeley Bibliography Gender Socialism Suggested Reading Syllabus

Berkeley. References for contemporary theories of social reform. Peixotto, 1906

 

The topics and references for the course “Contemporary Theories of Social Reform” taught by Jessica B. Peixotto in the economics department of the University of California (Berkeley) in 1906 come from that early era when sociology and social policy were still established fields within economics departments. Peixotto was the second woman to have been awarded a Ph.D. at the University of California as well as to have become the first woman to attain the rank of full-professor there. Two short biographies have been included in this post.

The printed syllabus to her course runs 29 pages and the entire list of topics and references that make up the syllabus have been transcribed (OCR + copy/paste) for this post. I have corrected many typos I have found, but I’ll warn users that while I have tried to keep new typos from adding to the noise, I am sure that many typos remain, especially from the original typesetting. Caveat lector!

____________________

Jessica Blanche Peixotto, Economics: Berkeley
1864-1941
Professor of Social Economics, Emeritus

Jessica Blanche Peixotto, born in New York, October 9, 1864, essentially belonged to California–to both the State and the University. She came to the state in her early childhood, and her connection with the University lasted from her enrollment in 1891 until her death, October 19, 1941, a full fifty years. Graduated in 1894, awarded the degree of Ph.D. in 1900 (the second woman to receive this distinction), made a member of the teaching staff in 1904, in 1918 given the full rank of professor (the first woman thus honored), in 1936 she received the honorary degree of Doctor of Laws.

Miss Peixotto’s career covered three fields. As a writer she published French Revolution and Modern French Socialism (1901), Getting and Spending at the Professional Standard of Living (1927), and numerous reports and articles in periodicals.

In the field of public service she was a member of the Berkeley Commission of Public Charities (1910-1913), and of the State Board of Charities and Corrections (1912-1924). On the latter board she served as chairman of the Committee on Children, and of the Committee on Research. During the first World War she served with the Council of National Defense as a member of a subcommittee of Women in Industry, and of the Committee on Child Welfare of the General Medical Board. In 1918 she received the more important appointment as Executive Chairman of the Committee on Child Welfare of the Women’s Committee of the Council, and later in the same year she was Chief of the Child Conservation Section.

But most to be remembered is her distinguished service in the University of California. The courses she offered included Contemporary Socialism, Control of Poverty, The Child and the State, the Household as an Economic Agent, and Crime as a Social Problem. In the later years of her teaching her interest shifted somewhat to problems of the consumer and general economic theory, culminating in a graduate seminar on the History of Economic Thought. Unstinting in the time and attention given to the advanced courses, she stimulated and inspired her students, proof of which is given in their contributions to the memorial volume, Essays in Social Economics, published in her honor in 1935 by the University of California Press.

In addition to formal instruction, Miss Peixotto served both the University and the community by organizing the first training in California for social work. This developed, in 1917, into a professional and graduate curriculum in the Department of Economics, later to become the Department of Social Welfare.

In 1923, under her chairmanship, the Heller Committee for Research in Social Economics was established at the University. This chairmanship she held until she was made Professor Emeritus in 1935.

The University as a whole, and more especially those in the Department of Economics, have been enriched by association with Dr. Peixotto. She was primarily an economist and insisted on laying a firm basis of economics for all her social work. But, as Professor Wesley Mitchell said in the memorial volume, her interests were so wideranging that her instruction has given intellectual stimulus not only to social workers and sociologists but also to psychologists, pediatricians, psychiatrists, economists, statisticians, and lawyers.

Fitly was she characterized in the citation when given the honorary degree of LL.D.: “Chosen counselor of the State in matters concerning the protection of children and the care of the unfortunate; social economist marshaling stubborn facts in the service of mankind; comrade among students, inspiring teacher, true lover of humanity.”

Source:  University of California. In Memoriam, 1941. pp. 24-25.

Image Source: University of California archive picture of Jessica Blanche Peixotto (UARC PIC 1300:004) from webpage “Women at CAL: When California Passed the Woman Suffrage Amendment, 1910-1914/Room 3“.

____________________

JESSICA BLANCHE PEIXOTTO
1864 – 1941
by Judith R. Baskin

Jessica Blanche Peixotto, a member of a prominent Sephardic family distinguished for its long history of intellectual, philanthropic, and cultural contributions to the United States, broke gender boundaries throughout her career as a social economist and university professor. She was born in 1864 in New York City, the only daughter and oldest child of Raphael Peixotto, a prosperous Ohioan involved in trade with the South, and Myrtilla Jessica (Davis) Peixotto, originally of Virginia. In 1870, Raphael Peixotto moved his family and business to San Francisco. Jessica Peixotto’s four brothers were Edgar, a San Francisco attorney; Ernest Clifford, an artist and author; Eustace, director of public school athletics in San Francisco; and Sidney Salzado, a social worker.

After high school graduation in 1880, Peixotto acquiesced to family disapproval of her ambitions for higher education, continuing her studies at home through private instruction. In 1891, however, she enrolled at the University of California at Berkeley, receiving a bachelor’s degree in 1894, and continued on to graduate study in political science and economics. She received a Ph.D. in 1900, the second given to a woman at the University of California. Peixotto’s thesis The French Revolution and Modern French Socialism, published in 1901, was based on independent research undertaken at the Sorbonne in 1896–1897.

In 1904, Jessica Peixotto joined the faculty of the University of California at Berkeley as a lecturer in sociology. Her appointment was soon transferred to the economics department, where she taught until her retirement in 1935. In 1918, Peixotto was the first woman to earn the rank of full professor at Berkeley. Her service as head of her department was also a first for a woman there. National honors include her election as vice president of the American Economic Association in 1928. Following her retirement, Peixotto received honorary doctorates in law from Mills College in 1935 and from the University of California in 1936.

Peixotto’s published works include Getting and Spending at the Professional Standard of Living: A Study of the Costs of Living an Academic Life (1927), and Cost of Living Studies. II. How Workers Spend a Living Wage: A Study of the Incomes and Expenditures of Eighty-Two Typographers’ Families in San Francisco (1929). A collection of papers and comments Essays in Social Economics in Honor of Jessica Blanche Peixotto (1935) provides full details of her life and published writings.

Throughout her career, Peixotto was deeply committed to social causes, serving for twelve years on the California State Board of Charities and Correction. During World War I, she worked in Washington, first as executive chairperson of the child welfare department of the Women’s Committee of the Council of National Defense, and then as chief of the council’s child conservation section. She was also a member of the Consumers’ Advisory Board of the National Recovery Administration in 1933. At the University of California, Peixotto founded a program within the economics department that ultimately led to a professional school of social work.

Jessica Peixotto died in October 1941. While proud of her Jewish background, she was not involved in the Jewish community or any Jewish causes. Her funeral service, followed by cremation, was conducted by a representative of the Unitarian Society, together with the vice president and provost of the University of California.

Source:  Jessica Blanche Peixotto webpage at the Encyclopedia of Jewish Women.

____________________

UNIVERSITY OF CALIFORNIA
DEPARTMENT OF ECONOMICS

TOPICS AND REFERENCES FOR
ECONOMICS 42
CONTEMPORARY THEORIES OF SOCIAL REFORM

BERKELEY: THE UNIVERSITY PRESS
1906

 

PLAN OF THE COURSE:

    1. — The Subject in General.
    2. — Contemporary Political Socialism.
    3. — Critical Discussion of the Doctrines of Marxism.
    4. — Communism and Anarchism.
    5. — Social Reform Movements with Less Extensive Programs.
    6. — Utopianism.

PART I.— THE SUBJECT IN GENERAL.

  1. Nature and Scope of the Subject.
  2. Definition.
  3. Classification,—its Difficulties, its Necessity.

General Bibliography:

Bibliographies:

Stammhammer: Bibliographie des Socialismus u. Communismus. Jena, Fischer, Bd. I, 1898; Bd. II, 1900.

Documente des Sozialismus, edited by Ed. Bernstein. Berlin, 1901 and succeeding years.

Encyclopedias:

Bliss: Encyclopedia of Social Reform. Funk & Wagnalls Co., 1897.

Stegman and Hugo: Handbuch des Socialismus. Zürich, Verlags-Magazin, 1897.

General Studies:

Biederman, Karl: Vorlesungen über Sozialismus und Sozialpolitik. Breslau, Schottlander, 1900.

Bourguin, Maurice: Les systèmes socialistes et l’évolution économique. Paris, Colin, 1904.

Brooks, John Graham: The Social Unrest. Macmillan, N. Y., 1903.

Diehl, Karl: Über Sozialismus, Kommunismus u. Anarchismus. Jena, Fischer, 1906.

Ely, Richard T.: The Labor Movement in America. N. Y., Crowell & Co., 1886.

Ely, Richard T.: French and German Socialism in Modern Times. N. Y., Harper & Bros., 1883.

Socialism and Social Reform. N. Y., T. Y. Crowell & Co., 1894.

Graham, W.: Socialism, New and Old. London, Kegan Paul, 1891.

Herkner, Heinrich: Die Arbeiterfrage. Berlin, J. Guttentag, 1902.

Kirkup, T.: History of Socialism. London, Black, 1900.

Laveleye, Emile de: Le Socialisme Contemporain. Alcan, Paris, 1886. (Eng. trans.: The Socialism of To-day, by G. H. Orpen, London, Field & Tuer, 1885.)

Leroy-Beaulieu, Paul: Le Collectivisme, examen critique du nouveau socialisme. Paris, Guillaumin, 1885.

Essais sur la Répartition des Richesses et sur la Tendance à une moindre Inégalité des Conditions. Paris, Guillaumin, 1888.

La Question Ouvrier aux XIX Siècle. Paris, Charpentier, 1882.

Menger, Anton: Das Recht auf den vollen Arbeitsertrag. Stuttgart, Cotta, 1886. (Eng. trans.: The Right to the Whole Product of Labor, Macmillan, 1899.)

Pareto, V.: Les Systèmes Socialistes. Giard et Brière, Paris, 1902. 2 vols.

Pesch, Heinrich: Liberalismus, Socialismus, und christliche Gesellschaftsordnung. Freiburg i. Br., Herd’sche Verlagshandlung, 3 Bde., 1893-1900. (See particularly 3rd vol.)

Rae, John: Contemporary Socialism. London, Swan Sonnenschein, 1898.

Schäffle, Dr. A. E. F.: Die Quintessenz des Socialismus. Gotha., Perthes, 1891. (Eng. trans.: Quintessence of Socialism.)

The Impossibility of a Social Democracy, being a supplement to the “Quintessence of Socialism,” with a preface by Bernard Bosanquet. London, S. Sonnenschein, 1892.

Sombart, Werner: Sozialismus und soziale Bewegung. Fünfte Auflage, 1905. (Eng. trans, of 1st edition: Socialism and the Social Movement in the Nineteenth Century. N. Y., Putnam, 1898.)

 

PART II.— CONTEMPORARY POLITICAL SOCIALISM.

1. Marxism.

(a) The Theory.

1a. Its statement by the founders.

Engels, Friedrich: Herrn Eugen Dührings Umwälzung der Wissenschaft. Stuttgart, Dietz, 1894.

Marx, Karl: Das Kapital. Hamburg, Meissner, 1882-98. Ill Bde. (Eng. trans.: Capital, London, Swan Sonnenschein, 1888. Students pressed for time may, without great disadvantage, consult Aveling, Edw.: “The Student’s Marx, an Introduction to the Study of Karl Marx’s ‘Capital.’” London, Swan Sonnenschein, 1892.)

Marx, Karl, and Engels, Fr.: Manifesto of the Communist Party, 1848. (This remains the “Bible” of socialism, and should be carefully read by every student.)

Lassalle, Ferdinand: Reden und Schriften. 3 Bde., herausgegeben von Ed. Bernstein, Berlin, Verlag Vorwärts, 1891. (Eng. trans.: of the “Arbeiterprogramm” by Peters, “Working-man’s Programme and Addresses.” N. Y., International Publishing Co., 1898.)

Aus dem literarischen Nachlass von Karl Marx, Friedrich Engels und Ferdinand Lassalle. Herausgegeben von Franz Mehring, Stuttgart, Dietz, 1901-4. 4 Bde. (A collection of the greatest interest to students of the writings of these three founders of the Marxian movement.)

2a. Modern presentations of the theory.

Bernstein, Ed.: Die Voraussetzungen des Sozialismus und die Aufgaben der Sozialdemokratie. Stuttgart, Dietz, 1899.

Blatchford, Robert: Merrie England. Chicago, Chas. Kerr, & Co.

Deville, Gabriel: Principes Socialistes. Paris, Giard et Brière, 1896.

Ensor, R. C. K.: Modern Socialism. Harper & Bros., N. Y., 1904.

Fabian Essays in Socialism. London, Fabian Society, 1890.

Fabian Tracts (1-126), 1884-1906. Notably Nos. 5, 13, 15, 51, 69, 72.

Ghent, J. Wm.: Mass and Class. N. Y., London, Macmillan, 1904.

Guesde, Jules: Quatre ans de Lutte de classe à la Chambre.

Guesde, J., et Lafargue. P.: Le Program du Parti Ouvrier, son Histoire, ses Considérations, ses Articles. Lille, Imprimerie du Parti Ouvrier, 1894.

Hyndman, H. M.: The Economics of Socialism. London, Twentieth Century Press, 1896.

Kautsky, Karl: Das Erfurter Programm in seinen grundsätzlichen Theilen erlaütert. Stuttgart, Dietz, 1892.

Die Soziale Revolution. Berlin, Verlag “Vorwärts,” 1903. (Eng. trans.: The Social Revolution. Chas. H. Kerr & Co., Chicago.)

Kautsky, K., und Schönlank, Bruno: Grundsätze und Forderungen der Sozialdemokratie. Berlin, Verlag “Vorwärts,” 1892.

Labriola, A.: Socialisme et Philosophie. Paris, Giard et Brière, 1899.

Liebknecht, Wm.: Was die Socialdemokraten sind und was Sie wollen. Chemnitz, Albin Langer, 1894. (Eng. trans.: Socialism, What It Is and What It Seeks to Accomplish. Chas. H. Kerr & Co., Chicago.)

Menger, Anton: Neue Staatslehre. Jena, Fischer, 1903.

Neue Sittenlehre. Jena, Fischer, 1905.

Mills, W. T.: The Struggle for Existence. Chicago, International School of Social Economy, 1904.

Morris, Wm., and Bax, E. B.: Socialism, Its Growth and Outcome. London, Swan Sonnenschein, 1897.

Spargo, John: Socialism. N. Y., Macmillan, 1906.

Yandervelde, Emile: Le Collectivisme. Bruxelles, Au Journal du Peuple, 1896.

Le Collectivisme et la Révolution Industrielle. Paris, Librairie Georges Bellais, 1900. (Eng. trans.: Collectivism and Industrial Revolution. Chicago, Chas. H. Kerr & Co., Standard Socialist Series No. 2.)

(b) The makers and propagators of the theory.

On Karl Marx:

Böhm-Bawerk, Eugen V.: Zum Abschluss des Marxischen Systems. Berlin, 1896. (Eng. trans.: Karl Marx and the close of his system. London, Fisher Unwin, 1898.)

Engels, Fr.: Karl Marx. (Handwörterbuch d. Staatswiss, IV, 1892.)

Liebknecht, Wm.: Karl Marx zum Gedächtnis. Nürnberg, 1896. (Eng. trans.: Karl Marx. Standard Socialist Series No, 1, Chicago, Chas. H. Kerr & Co.)

Liebknecht über Marx. (Neue Zeit, Jhrg. 15, 1896-97.)

Lafargue, P.: Karl Marx, Persönliche Erinnerungen. (Neue Zeit, Jhrg. 9, 1890-91.)

Mehring, Franz: Aus dem literarischen Nachlass, etc. Bd. I, pp. 1-57.

Nieuwenhuis, Domela: Karl Marx in Memoriam. Amsterdam.

Chapters in Kirkup, Rae, Russell, Sombart, etc

On Engels:

Kautsky, K.: Friedrich Engels und das Milizsystem. (Neue Zeit, Jhrg. 17, 1898-99.)

Friedrich Engels. (Züricher Socialdemokrat, Nos. 45-50, 1887.) (Eng. trans.: Fr. Engels, his Life, Work, and Writings. Chas. H. Kerr & Co., Chicago.)

Sombart, W.: Friedrich Engels, 1820-95, Ein Blatt zur Entwickelungsgeschichte des Socialismus. Berlin, 1895.

On Ferdinand Lassalle:

Becker, B.: Die Arbeiteragitations Lassalle, 1875.

Bernstein, Ed.: Ferdinand Lassalle und seine Bedeutung in der Geschichte der Sozialdemokratie in “Reden und Schriften,” Bd. I, pp. 5-189. (Eng. trans.: Ferdinand Lassalle as a social reformer. London, Swan Sonnenschein, 1893.)

Dawson, W. H.: German Socialism and Ferdinand Lassalle. London, Swan Sonnenschein, 1888.

Meredith, George: The Tragic Comedians.

Chapters in Kirkup, Rae, Russell, Sombart, etc.

(c) German Social Democracy (Socialdemokratische Partei Deutschlands).

1c. History of its development as a political party.

Bouffé, Gaston: Le Parti socialiste allemande, son évolution. Paris, A. Chevalier Marescq, 1903.

Bourdeau, J.: Le socialisme allemand et le nihilisme russe. Paris, Alcan, 1892.

Mehring, F.: Zur Geschichte der deutschen Sozialdemokratie. Stuttgart, Dietz, 1897-98. (Geschichte des Socialismus in Einzeldarstellung. Bd. 3.)

Milhaud, E.: La démocratie socialiste allemande. Paris, Alcan, 1903.

Russell, Bertrand: German Social Democracy. London, Longmans, 1896, pp. 69-116.

Stegman und Hugo: Articles — International Arbeiterassociation, Sozialistischen Arbeiterpartei, Sozialdemokratische Partei Deutschlands.

Sombart: Sozialismus, etc. Pp. 201-208.

2c. Party organization. — Program. —Party tactics. —Methods of propaganda.

Bernstein, Ed.: Die heutige Sozialdemokratie in Theorie u. Praxis. Munich, Beck & Co., 1906.

Mehring, F.: op. cit.

Milhaud, E.: op. cit., pp. 51-181.

Russell, B.: op. cit., pp. 116-143.

Stegman u. Hugo: Articles — Taktik, Program.

To follow the movement at first hand, consult:

Protokoll über die Verhandlungen des Parteitags der Socialdemokratischen Partei Deutschlands from Halle (1890) to Jena (1905). Of these, that of Erfurt (1891), Dresden (1903), and Jena (1905) are of special interest.

Vorwärts. Berlin. Central official organ (daily).

Neue Zeit. Stuttgart, Dietz. Official magazine ed. by K. Kautsky (weekly).

Socialistische Monatshefte. Berlin. Publication representing the less radical group (monthly).

In Freien Stunden and Die Neue Welt. Literary publications which make a dignified attempt to spread artistic and intellectual ideals among the working classes.

Wahre Jacob. Stuttgart. Comic paper with no mean influence.

Die Gleichheit. (Interests of women workers), ed. by Clara Zetkin.

3c. The party in action today.

Revisionism. — Internationalism. — The agrarian question. — Relation to coöperation. — To trade-unionism. — Anti-semitism. — Syndicalism.

Bebel, A.: Unsere Ziele. Berlin, Buchhandlung “Vorwärts,” 1903.

Göhre, Paul: Die Agrarische Gefahr. Berlin, Verlag “Vorwärts,” 1902.

Kautsky, K.: Der Parlementarismus, die Volksgesetzgebung u. die Sozialdemokratie. Stuttgart, Dietz, 1893.

Mehring, F.: op, cit.,

Milhaud, E.: op. cit., pp. 181-517.

Russell, B.: op. cit., pp. 143-171.

4c. Austrian movement.

Stegman u. Hugo: Article, Oesterreich.

Deutsch, J.: Zur Geschichte der Arbeiterbewegung in Ungarn. (Die Zeit, Nr. 162. Wein, Nov. 6, 1897.)

Gumplowicz, Ladisl: Mouvement social. Autriche (Rev. internat. de sociologie, II, 1894).

Kcral, August: Zur Geschichte der Arbeiterbewegung Oesterreichs, 1867-94. Berlin, 1894.

Navay, L.: Die Arbeiterfrage in Alfeld mit besonderen Rucksicht auf die Arbeiterverhältnisse im Comitate Cznad. (Zeitschrift f. Volkwirtschaft, Soz. Pol. u. Verwalt, VI, 1897.)

Schatzl, J.: Die Corruption in der oesterreichischen Socialdemokratie. Wien (Leipzig, Liter. Anst., A. Schulze), 1896.

Schlesinger-Eckstein, T.: Die erste Konferenz deutscher Sozialdemokratinnen in Oesterreich (Neue Zeit, Jhrg. 16, 1897-98).

(d) Marxism in Latin Countries.

1d. France.

History of the growth of the Marxian movement in France. — Factions. — Programs. — Municipal Socialism in France. — Social influence. — Agrarian question.

Coubertin, Pierre de: France under the Third Republic, translated by I. F. Hapgood. New York, 1897, Ch. XIV.

Gaillard, Louis: La royaume socialiste, choses vues. Paris, Darajan, 1902.

Histoire socialiste (1789-1900) sous la direction de Jean Jaurès. Paris, Rouff, 1901.

Jaurès, Jean: Action Socialiste. Paris, Bellais (undated).

Lafargue, Paul: Die socialistiche Bewegung in Frankreich, 1876-90. (Neue Zeit, 1890.)

Socialism in France, 1876-96 (Fortnightly Rev., 1897, Sept.).

Laviron, P. E.: Le socialisme français et le collectivisme allemand. Paris, Allemane, 1895.

Lecky, W. H.: Democracy and Liberty. New York, 1896. Vol. II, pp. 224-369.

Louis, P.: Les Etapes du socialisme. Paris, Charpentier, 1903, pp. 235 et sq.

Métin, A.: La formation de la démocratie socialiste française.

Millerand, A.: Le socialisme réformiste français. Paris, Bellais, 1903.

Peixotto, J. B.: French Revolution and Modern French Socialism. New York, Crowell & Co., 1901. Ch. VI.

Sombart, W.: Sozialismus, etc. 5th ed., 1906. Pp. 208-214.

For movement at first hand, read:

Reports of the Congrès Generales des Organizations Socialistes. Paris, 1900, and succeeding years.

La Petite République. (Moderate group.) Paris (daily).

L ‘Humanité. Jaurès, editor. Paris. (Daily.)

La Revue Socialiste. Organ of Integral Socialists. (Monthly.)

Le Mouvement Socialiste. Organ of the radical group. (Fortnightly).

2d. Italy.

Marxism as it has become a political party in Italy. — The present political situation. — Special traits.

Gnocchi-Viani, O.: Dal mazzmianismo al socialismo. Colle, 1893.

Groppali, Alessandro: Le mouvement social en Italie (extrait de la Rev. Internat. de sociologie). Paris, Giard et Brière, 1897.

Loria, A.: II movemento operaio.

Nerbini: Cinquante Anni di socialismo nella Italia. Firenze, 1888.

Nitti, F. S.: Le mouvement économique et social en Italie en 1891. (Rev. sociale et politique, année 2, 1892.)

Sombart, W.: Sozialismus, etc. 5th ed. Pp. 235-239.

Der gegenwartige Stand der italienischen Arbeiterbewegung (Socialpol. Zentralbl. I, 1892).

Studien zur Entwickelungsgeschichte des italienischen Proletariats. (Arch. f. soc. Gesetzg. Bd. 6, 1893; Bd. 8, 1895.)

For first hand insight:

Bolletino della Direzione del Partito Socialista Italiano. Rome. (Monthly.)

Reports of meetings of congresses at Rome (1900), Imola (1902), Bologna (1904).

Avanti. Official organ of the radical socialists, editor, Enrico Ferri. Rome. (Daily.)

Nuova Antologia. Rome. (Monthly.)

L’Asino. Rome. (Comic weekly.)

Il Seme. Publication of the moderate group. Rome. (Fortnightly.)

3d. Spain.

General aspects of the movement in Spain.

Die sociale Bewegung in Spanien. (Jahrb. f. Socialwissenschaft, 1. u. 2, Zurich, 1879 and ’80).

Iglesias, Pablo: Die sozialistiche Arbeiterpartei in Spanien. (Neue Zeit, Jhrg. 10, 1891-92.)

Maze-Sencien, G.: Le socialisme en Espagne. (Extrait de la Rev. pol. et parl., 1898, aout et sept.). Paris, Davy, 1898.

Posada, A.: L’évolution sociale en Espagne, 1894 et 1895. Paris, Giard et Brière, 1896.

Le mouvement social en Espagne, 1896. (Extrait de la Revue internat. de sociologie.) Paris, Giard et Brière, 1897.

Le parti socialiste ouvrier Espagnol au congrès international de Paris de 1900. Madrid, Teodoro, 1901.

Stegman u. Hugo: Art. Spanien.

(e) Marxism in other Continental Countries.

1e. Belgium.

History and distinctive character of Belgian socialist movement.

Bertrand, Louis: Histoire de la Coöpération en Belgiqae. Bruxelles, 2 v.

Destrée, J., and Vandervelde, E.: Le Socialisme en Belgique. Paris, Giard et Brière, 1903.

Deutscher, Paul: The Socialist Movement in Belgium. The Workingmen’s Party (Free Review, 1896, March).

Sombart, W.: Sozialismus. 5th ed. Pp. 229-233.

Consult further:

Reports of Congrès du Parti ouvrier for 1885, and succeeding years.

Le Peuple. (Party organ.) Brussels. (Daily.)

2e. Denmark, Norway, and Sweden.

Baug, Gus.: Ein Blick auf die Geschichte der dänischen Sozialdemokratie. (Neue Zeit, Jhrg. 16, 1897-98.)

Jensen, Ad.: Le Socialisme en Danemark. Rev. d’économpolitique, X, 1896, June.

Knussden, Olsen S. and Olsen M.: Bericht der Sozialdemokratie in Dänemark. Bruxelles, P. Weissenbruch, 1891.

Lindeberg, F.: Die Arbeiterbewegung Dänemarks. (Schweiz. Blätter f. Wirtsch. u. Soz. Pol., Jhrg. 6, 1898.)

Martinet, C: Le socialisme en Danemark. Paris, Société d’éditions scientifique, 1893.

Sombart, W.: Sozialismus, etc. 5th ed., 1906. Pp. 233 et sq.

Stegman u. Hugo: Arts. Dänemark, Norwegen, Schweden.

3e. Switzerland.

Berghoff-Ising, Dr. Frz.: Die socialistische Arbeiterbewegung in der Schweiz. Leipzig, Duncker, Humboldt, 1895.

Die neuere socialistische Bewegung in der Schweiz. (Schmoller’s Jahrb. f. Gesetzg., Jhrg. 17, 1893.)

Le socialisme en Suisse. (Extrait de la Revue d’Econ. pol. X, 1896.) Paris, Larose, 1896.

Chez nous en Suisse ou les libertés helvétiques mises à nus. Génève, 1899.

Lang, Otto: Der Socialismus in der Schweiz. Berlin, Verlag der Socialistischen Monatshefte, 1902.

Müller, H.: Die schweizerische Socialdemokratie. (Schweiz. Blätter f. Wirtschaft u. Soz.-Pol., Jhrg. 6, 1898.)

4e. Russia.

Plechanoff, G.: Die Sozialpolitischen Zustande Russland im Jahre 1890. (Neue Zeit, Jhrg. 9, 1890-91.)

Stegman u. Hugo: Art. Russland.

Winiarsky, L.: Der Sozialismus in Russischen-Polen. Neue Zeit, Jhrg. 10, 1891-92.)

(f) Marxism Under Anglo-Saxon Influence.

1f. Marxist movement in England.

The development of the present movement in England.— The Social Democrats. — Fabianism. — Independent Labor Party. — Socialism in the Colonies.

Bernstein, Ed.: Politische Partei u. wirtschaftliche Interessen in England. (Neue Zeit, Jhrg. 15, 1896-97.)

Herron, G. D.: Impressions of the English Labor Movement. (Commons, 1898, Jan.)

Laveleye, E. de: Socialism of Today. 1885. Appendix.

Marx-Aveling, Eleanor: Die Arbeiterclassen-Bewegung in England. Nürnberg, Wörlein u. Co., 1895.

Métin, A.: Le socialisme en Angleterre. Paris, Alcan, 1897.

Un socialisme sans doctrine (on Australia and New Zealand). Paris, Alcan, 1901.

Shaw, B.: Fabian Socialism, What It Is and What It Has Done. Fabian Tract No. 41.

Verhaegan, P.: Socialistes anglais. Paris, Larose, 1898.

Webb, Sidney: Socialism in England. American Economic Association, 1889, April.

Woods, R. A.: English Social Movements. London, Swan Sonnenschein, 1895, pp. 38-78.

For the movement at first hand:

Clarion. Ed. by Robert Blatchford. London. (Weekly.)

Justice. Organ of Social Democratic Federation. London. (Weekly.)

Labor Leader. Official organ of I. L. P. (Monthly.)

Fabian News. Organ of Fabian Society. London. (Monthly.)

Reformer’s Year-Book.

2f. American Marxism.

The history of political socialism in the United States. — Distinctive traits. — Tendencies.

Ely, Richard T.: Labor Movement in America. N. Y., Crowell & Co., 1886.

Engels, Fr.: The Working-Class Movement in America. London, 1888.

Hilquit, Morris: History of Socialism in the United States. N. Y., Funk & Wagnalls Co., 1902.

Kerby, W. J.: Le Socialisme aux Etats-Unis. Bruxelles, (Goemaere, 1897.

Mills, W. T.: The Struggle for Existence. Ch. XLV.

Martiis: Il Socialismo negli Stati Uniti. 1891.

Walterhausen: Der moderne Socialismus in den Vereinigte Staaten von Amerika. 1890.

Sombart, W.: The historical development of the American proletariat. (Inter. Soc. Rev., Nov., 1905.)

For the movement at first hand:

Socialist Party Proceedings at National Convention, Chicago, 1904. Issued by National Committee, 269 Dearborn street, Chicago.

Party programmes (to be found annually in most American Almanacs).

Party magazines and newspapers, of which the best are, perhaps:

The Worker. New York. (Daily.)

Appeal to Reason (somewhat “yellow” journal). J. A. Wayland, editor. Girard, Kansas. (Daily.)

International Socialist Review. Chicago, Chas. H. Kerr & Co. (Monthly.)

Wilshire’s Magazine. New York, Wilshire Publishing Co. (Monthly.)

 

2. Non-Marxist Political Socialist Movements.

(a) Christian Socialism.

1a. Catholic Socialism.

Its founders. — Its special aims and its influence in the leading countries of the world.

Hitz, F.: Die Quintessenz der sociale Frage. Paderbom, Bonifacius, Dr., 1877.

Leroy-Beaulieu, Anatole: La papauté, le socialisme et la démocratie. Paris, Calmann Lévy, 1892. (Eng. trans.: Papacy, Socialism, and Democracy.)

Nitti, F. S.: Il socialismo cattolico. Torino, 1891. (Eng. trans.: Catholic Socialism. London, Swan Sonnenschein, 1895.)

Soderni, E.: Socialism and Catholicism. Longmans, 1896.

Stegman u. Hugo: Art. Christlicher Socialismus.

Valez, A.: Le socialisme catholique en France. Montauban, Granié, 1892.

Etudes sociales catholiques. Paris, A. Schulz et Friburg, 1892.

Best known periodicals:

Christlich-Sociale Blätter.

Revue du christianisme pratique.

La Réforme sociale (school of Le Play).

2a. “Christian” or Evangelical Socialism.

Its distinctive characteristics and political status in the several leading nations of the world.

Behrends, A. J. F.: Socialism and Christianity. N. T., Baker & Taylor, 1886.

Carter, J.: Christian Socialism in England. London, 1891.

Göhre, Paul: Die Evangelische-soziale Bewegung. Leipzig, 1896. (Eng. trans.: Evangelical-Social Movement in Germany, Its History and Aims. London, Ideal Public Union, 1898.)

Headlam, Rev. S. D.: Christian Socialism. Fabian Tract No. 42.

Kaufman, M.: Christian Socialism. London, Kegan Paul, 1888.

Naumann, P.: National-Socialen Katechismus. Berlin, Buchverlag der “Zeit,” 1897.

New Christian Socialism. (Quarterly Rev., 1894, July.)

Stöcker, Adf.: Selbsthülfe! Staatshülfe! Gotteshülfe! Essen, Gladbach, 1891.

Stubbs, C. W.: A Creed for Christian Socialists. London, Reeves, 1897.

Best known periodicals:

Church Reformer (London).

Christian Socialist (London).

Die Zeit (organ für nationales Sozialismus auf christliche Grundlage, Berlin).

Hilfe (Frankfurt, a. M.)

Revue du Christianisme social.

See also “Arbeiterbibliothek” (Göttinger), ed. by P. Naumann.

3a. The problem of Christian Socialism.

Adler, Felix: Life and Destiny. N. Y., McClure, Phillips & Co., 1905. Esp. pp. 75-141.

Clifford, Dr. John: Socialism and the Teaching of Christ. Fabian Tract No. 78.

Mathews, Shailer: The Social Teachings of Jesus.

Peabody, Francis G.: Jesus Christ and the Social Question. Macmillan, 1903.

Religion of an Educated Man.

Stubbs, Rev. C. W.: Christ and Economics. Isbister, 1893.

(b) “Philanthropic” Socialism.

What it is, and how it may, or may not, be political socialism. — Some of the representatives of this type of socialism. — Its influence.

Bernstein, Ed.: Zur Frage— Socialliberalismus oder Collectivismus. Berlin, 1900.

Brooks, John G.: The Social Problem. N. Y., Macmillan, 1902.

Hobhouse, L. T.: The Labor Movement. Fischer, Unwin & Co., 1898.

Hobson, J. A.: The Social Problem. N. Y., Pott, 1902.

Kelly, Edmond: Government or Human Evolution. Longmans, N. Y., 1900-01. 2 vols.

Kirkup, T.: History of Socialism. Pp. 273-311.

Wells, H. G.: Mankind in the Making. London, Chapman and Hall, 1904.

(c) State Socialism.

What it is and what sets it apart from the Marxist and other movements. — Katheder-Sozialismus.

Block, Maurice: Quintessence of State Socialism.

Bryce, R. J.: A Short Study of State Socialism. London, E. Baynes & Co., 1903.

Dawson, W. H.: Bismarck and State Socialism. London, Swan Sonnenschein, 1890.

Kautsky, K.: Vollmar und der Staatssozialismus. (Neue Zeit, Jhrg. 10, 1891-92.)

Laveleye, Ch.: Socialism of Today. Ch. XII.

Métin, A.: Un Socialisme sans doctrine. Paris, Alcan, 1901.

Millerand, A.: Le socialisme réformiste.

Smith, Hubert L.: Economic Aspects of State Socialism. London, Simpkin, 1887.

Wagner, A.: Vortrag über Sozialismus, Sozialdemokratie, Katheder und Staatssozialismus. Berlin, Vaterländ. Verl. Anst. in Komm., 1894.

Die akademischer Nationalökonomie u. die Socialismus. Berlin, Becker, 1895.

 

PART III.— CRITICAL DISCUSSION OF THE DOCTRINE OF MARXIAN SOCIALISM.

1. Marxist Analysis of Industrial Society.

(a) Marxist Classification of the Factors in Industrial Life.

Labor and proletariat. — Capital and bourgeoisie, and whether these terms are, and can be, used interchangeably.

Kautsky, K.: The Social Revolution, esp. sec. 43.

Marx, K.: Communist Manifesto. Passim.

The “leisure class,” what socialists mean by it, and how they regard it.

See, besides writings of socialists previously cited:

Lafargue, Paul: Le droit à la paresse. Lille, Delory, 1891.

Massart, J., et Vandervelde, E.: Parasitisme organique et parasitisme social. Paris, Reinwald, Schleicher Frères, 1898. (Eng. trans.: Parasitism, organic and social. London, Swan Sonnenschein, 1895.)

Students will do well to read in this connection:

Veblen, Thorstein: Theory of the Leisure Class. N. Y., Macmillan, 1902.

(b) Surplus Value.

The Theory.

Aveling, Edw.: Students’ Marx. Pp. 1-48.

Bernstein, Ed.: Die Voraussetzungen des Sozialismus, etc. Pp. 37-46.

Kautsky, K.: Karl Marx’s Oekonomische Lehre. Pp. 3-116.

Marx, K.: Capital. I, pp. 1-311.

Validity of the theory. — Its relation to orthodox economic findings. — How far it is fundamental to socialistic economic theory.

Böhm-Bawerk: Karl Marx and the Close of His System.

(c) Law of Concentration of Capital.

What it is.

Marx, K.: Capital. Pp. 625-736.

Aveling, Edw.: Students’ Marx. Pp. 138-157.

Kautsky, K.: Marx’s Oekonomische Lehren. Pp. 116-177.

Vandervelde, E.: Collectivism and Industrial Evolution. Pt. 1.

How far dispassionate investigation validates this law.

Bourguin, M.: Les systèmes socialistes. Ch. XI, Ch. XII, Ch. XIII, Annexes III, IV, V.

The Trusts in socialist theory.

Lafargue. P.: Les Trusts Américains. Paris, Giard et Brière, 1897.

Lloyd, H.: Wealth Against Commonwealth. Harper, 1894.

Macrosty, H. W.: Trusts and the State. Richards, 1901.

Vail, Chas.: The Trust Question. Chicago, Chas. H. Kerr & Co. (Pocket Library of Socialism No. 21.)

Mills, Walter Thomas: The Struggle for Existence. Ch. X.

Socialist attitude toward mechanical production. — Question of house industry vs. factory labor.

(d) Theory of Commercial Crises.

Socialist explanation of them. — Comparison of this explanation with other ways of accounting for them.

Bernstein, Ed.: Voraussetzungen des Sozialismus, etc. Pp. 66-83.

Kautsky, K.: Das Erfurter Programme. Pp. 86-104, 177-252.

(e) Theory of Increasing Misery.

What it is. — How far it is based on fact.

In addition to bibliography previously cited, see:

Why Are the Many Poor? Fabian Tract No. 1.

How far Marxian reformers expect the elimination of pauperism, and how far these expectations seem justified. — The question of unemployed in socialist theory.

Bebel, A.: Die Frau u. der Sozialismus, passim.

Kautsky, K.: Das Erfurter Programme. Pp. 104-166.

Renard, G.: Le régime socialiste. Pp. 152-186.

(f) The General Strike.

The conception viewed historically, and in contemporary socialist usage. — Objects.

Bernstein, Ed.: Der Strike als Politischer Kampfmittel. (Neue Zeit, Jhrg. 12, 1893-94.)

La Grève Générale et le Socialisme. Enquête Intérnationale. Paris, Odéon, 1904. (June, July, Aug. and Sept. Nos. of “Le Mouvement Socialiste.”)

Protokoll über die Verhandlung des Parteitags der Sozialdemokratischen Partei Deutschlands. Jena, 1905.

(g) Canons of Distribution.

Whether any are to be found in Marxist and related socialist theory, and if so, how far and in what way they promise more general enjoyment of the results of social production. — Whether socialist schemes expect to increase production, or control consumption. — Whether Marxists aim at distributive justice. — Economic efficiency under socialism.

(h) Competition.

Whether socialists expect the elimination of competition. — The claim that competition involves waste. — How far it is true. — Whether it is possible to eliminate competition from human affairs. — Whether it should be eliminated if it could be. — Whether industrial development is actually tending to diminish competition.

Kelly, Ed,: Government or Human Evolution. II, pp. 273-293.

Reeves, Sidney: The Cost of Competition. McClure, Phillips & Co., 1906.

2. Marxist Political Theory.

(a) The State in Socialist Interpretation.

What the State is held to be.— Its origin.— Its end.— The range of functions ascribed to it.

Deville, G.: Principes Socialistes. Pp. 174-181.

Renard, Georges: Le régime socialiste. Pp. 61-125.

(b) The Individual and His Rights.

Natural rights in Marxian theory. — Rights of the individual specifically or implicitly demanded by all socialists. — The grounds on which the demand for rights is formulated. — How far the word “natural” has disappeared.

Lafargue, P.: Le Droit à la paresse, passim.

Renard, G.: Le Régime socialiste. Alcan, 1904, pp. 24-61.

For views kindred to Marxian see, by way of comparison:

Hobson, J. A.: Social Problem. Bk. II, Chs. I and II.

Kelly, E.: Government or Human Evolution. I, Ch. I.

Menger, A.: Right to the Whole Product of Labor. Pp. 1-40.

Ritchie, D. G.: Natural Rights. London, 1895.

(c) Doctrine of Property.

The theory usually adopted as to the origin and function of property. — The changes in property relations which socialists have in view.

Lafargue, Paul: Evolution of Property from Savagery to Civilization. Swan Sonnenschein, 1891.

Lafargue, Paul, et Guyot, Yves: La propriété communiste par P. Lafargue; réfutation par Guyot. Paris, Delgrave, 1895.

Laveleye, Em. de: De la propriété et ses formes primitives. Paris, Baillière, 1874. (Eng. trans, by G. R. L. Marriott, London, 1878.)

Menger, A.: Right to the Whole Product of Labor. Pp. 157-175.

Willoughby, W. W.: Social Justice. London, Macmillan, 1900. Ch. IV.

(d) Social Democracy.

As to the form of government socialists propose. — What “social democracy” means additional to democracy. — Whether socialist understanding of democracy is the usual one. — Whether the democratic form of government is fundamental to a socialist state. — Whether economic freedom is the means to democracy, or democracy the means to economic freedom, and what economic freedom means.

Bernstein, Ed.: Vorausaetzungen des Socialismus. Pp. 118-140.

(e) Tendency to Belief in Decentralization.

Some reasons for this tendency. — The effects of the doctrine.

(f) Internationalism.

Its nature. — Its present popularity. — Whether adhesion to the doctrine implies diminished patriotism.

Jaurès, J.: Patriotisme et Internationalisme. Lille, Delory (undated.)

Renard, G.: Régime socialiste. Alcan, 1904. Pp. 68-74.

(g) The Family.

Socialist ways of accounting for its origin and its political and social function. — How socialists relate the institution of the family to the status of woman. — The relation between child and parent in the socialist theory.

Bebel, A.: Die Frau und der Sozialismus. Stuttgart, Dietz, 1891. (Eng. trans.: Woman in the Past, Present, and Future, of which many popular editions.)

Engels, F.:  Der Ursprung der Familie. Zürich, Verlags-Magazin, 1891. (Eng. trans.: Origin of the Family. Chicago, Chas. H. Kerr & Co.)

Pearson, Karl: Ethic of Freethought. London, Black, 1901. Pp. 354-431.

Russell, B. and A.: German Social Democracy. Pp. 175-195.

Mills, Walter Thomas: The Struggle for Existence. Ch. XI.

3. Marx’s Doctrine of Social Progress.

(a) The Ultimate Premises of Socialism.

As to whether there are any fixed premises, and whether these premises are those which socialists themselves define. — Whether pessimism or optimism is at the bottom of the movement. — The controversy between materialism and idealism.

Bernstein, Ed.: Das realistische und das idealistische Moment in Socialismus (in “Zur Geschichte und Theorie des Sozialismus, pp. 262-287.)

Engels, Fr.: Eugen Duhrings Umwalzung der Wissenschaft.

Jaurès, J., et Fafargue, P.: Idéalisme et Matérialisme. Paris, 1895. (Publications du groupe des étudiantes collectivistes.)

Labriola, A.: Socialisme et Philosophie. Paris, Giard et Brière, 1899.

Marx, K.: “Holy Family” in “Aus dem literarischen Nachlass,” etc.

Pearson, K.: Ethic of Freethought. London, Adam and Charles Black, 1901. Pp. 301-354.

(b) The Materialistic Conception of History.

The doctrine. — Its antecedents, and how far the theory is the special property of socialists. — The several forms in which the theory is taught. — Validity of the theory. — Its influence outside of socialist circles.

Barthe, P.: Philosophie der Geschichte als Sociologie. Pp. 303-353.

Calwer, Rich.: Das Kommunistiche Manifest u. die heutige Sozialdemokratie. Braunschweig, Gunther, 1894.

Engels, Fr.: Feuerbach, the Roots of the Socialist Philosophy.

Ferri, Enrico: Socialismo e Scienza positiva. Roma, 1894. (Eng. trans.: Socialism and Positive Science.)

Labriola, A.: Saggi intorna alla concezione materialistica della Storia. Loescher, 1902. (Eng. trans.: Essays on the Materialistic Conception of History.)

Loria, A.: Analisi della Proprietà Capitalista. Torino, Bocca, 1889.

Marx, K.: Misère de la Philosophie.

Communist Manifesto.

Masaryk, T. G.: [Die philosophischen und sociologischen] Grundlagen des Marxismus. Vienna, Könegen, 1899.

Seignobos, Ch.: La méthode historique appliquée aux sciences sociales. Alcan, 1901. Pp. 259-269.

Seligman, E. R. A.: Economic Interpretation of History. Macmillan, 1902.

Stein, Ludwig: Die soziale Frage im Lichte der Philosophie. Stuttgart, Enke, 1903. Pp. 302-312.

Weisengrün, Paul: Der Marxismus. Leipzig, Veit & Co., 1900. Pp. 36-212.

(c) Class Struggle.

The doctrine in exact terms. — The social classes it defines, and the basis used to distinguish these. — The contradictions involved in the theory of class struggle. — Whether there is a class struggle on the lines defined by Marxists, or on any lines.

Barthe, P.: Philosophie der Geschichte als Sociologie. Pp. 336-346.

Bauer, A.: Les Classes Sociales. Paris, Giard et Brière, 1902.

Bernstein, Ed.: Klassenkampf-Dogma u. Klassenkampf-Wirklichkeit. Zur Geschichte u. Theorie des Socialismus, pp. 382-406.

Kautsky, K,: Das Erfurter Programme. Pp. 31-86.

Marx, K.: Communist Manifesto.

Novikow, J.: Les luttes entre les sociétés humaines et leurs phases successives. Paris, Alcan, 1896.

Noyes, W. H.: The Evolution of the Class Struggle. Chicago, Chas. H. Kerr & Co. (Pocket Library of Socialism.)

Simon, A.: Class Struggle. Chas. H. Kerr & Co., Chicago. (Madden Lib. No. 2.)

Veblen, Thorstein: Theory of Business Enterprise. Macmillan. Esp. Chs. VI, VII, IX, X.

4. Consideration of the Leading Objections to Socialism.

Brünhuber, M.: Die heutige Sozialdemokratie. Fischer, Jena, 1906.

Clark, W.: The Limits of Collectivism (Contemporary Review, 1893).

Donisthorpe, W.: Individualism— A System of Politics. Macmillan, 1889.

Gilman, N. P.: Socialism and the American Spirit. Boston, Houghton, Mifflin & Co., 1893.

Gladden, W.: Applied Christianity. Boston, Houghton, Mifflin & Co., 1886. (Essay on The Strength and Weakness of Socialism.)

Guyot, Yves: La tyrannie socialiste. Paris, Delagrave, 1893. (Eng trans.: The Tyranny of Socialism. London, Swan Sonnenschein, 1894.)

Mackay, J., and others: A Plea for Liberty. Murray, 1892.

Mallock, W. H.: Classes and Masses. London, 1896.

Aristocracy and Evolution. N. Y., 1898.

Morley, John: Compromise. 2nd ed. rev. London, 1877.

Nicholson, J. Shield: Historical Progress and Ideal Socialism. London, Black, 1894.

Richter, Eugene: Die Sozialdemokraten, was sie wollen und was sie werken. Berlin, 1878.

Richter, Eugene: Socialdemokratische Zukunftsbilder. Berlin, Verlag “Fortschritt,” A. G., 1890. (Eng. trans.: Pictures of the Socialist Future. 1894. Sonnenschein.

Say, Léon: Contre le Socialisme. Paris, Leroy, 1896.

Schäffle, A. E. F.: The Impossibility of Social Democracy.

Spencer, Herbert: The Man versus the State.

Sumner, W. G.: What Social Classes Owe Each Other. N. Y., 1884.

Thiers, A.: Du droit de propriété. 2 vols. Paris, Didot, 1841. (Eng. trans.: Rights of Property.)

PART IV.— COMMUNISM AND ANARCHISM.

1. Communism.

Some notable recent attempts at communism. — General type of social organization under communism. — Psychology of the communist. — Tendencies and average results of communistic experiments.

Broome, Isaac: The Last Days of the Ruskin Coöperative Association.

Bulletin of U. S. Labor Dept. (article on Coöperative Communities in the U. S., by Rev. Alex. Kent).

Eastlake, Allan: Oneida Community. Redway, 1900.

Nordhoff, C: Communistic Societies of the U. S. London, Murray, 1875.

Winchell, Alex. C: Communism in America. (North American Review, 1888, May.)

2. Anarchism.

(a) Classification.

The several types of anarchism, and their representatives.

Bakounine, Michel: Oeuvres (especially Dieu et I’Etat).

Grave, Jean: La société mourante et l’anarchie. Paris, 1893.

La société future. Stock, 1895.

L’Individu et la société. 1897. 2nd ed.

L ‘Anarchie, son but, ses moyens. Paris, Stock, 1899.

Hertzka, Theodore: Freiland. (Translated by A. Ransom, N. Y., 1891.)

Kropotkin, Peter H.: La conquête du pain. Paris, 1892.

Parôles d’un révolutionaire.

Autour d’une vie. Paris, 1903. 2 vols. 1899(?).

L’anarchie, sa philosophie, son idéal. 1905(?).

Memoires d’un révolutionaire.

Fields, Factories, and Workshops. London, S. Sonnenschein, 1901.

Malato, Ch.: De la commune à l’anarchie. Paris, Stock, 1894.

Mackay, John: Der Anarchisten.

Michel, Louis: La Commune. Paris, Stock, 1898.

Most, Johann Joseph: Die Lösung der sociale Frage. 1876. Memoiren, 2 Bde., N. Y., 1903.

Reclus, Elisée: L’évolution, la révolution et l’idéale anarchique. Paris, 1902.

Spencer, Herbert: Social Statistics (1st ed., containing chapter on right of individual to ignore the State).

Tucker, Benj.: Instead of a Book. N. Y., Tucker, 1893. (Reprinted under the title “State, Socialism, and Anarchism.” London, Reeves, 1895.)

Yarros, Victor: Anarchism, Its Aims and Methods. Boston, 1887.

(b) The Theory in Practice.

The programmes. — Organization. — Methods of propaganda. — The relation of anarchism to socialism. — To individualism. — Herbert Spencer and anarchism. — Psychology of the anarchist.

Bernstein, Ed.: Die sociale Doktrin des Anarchismus (in Neue Zeit, Jahrg. 10, Bd. 1-2).

Basch, V.: L ‘individualisme anarchiste. Alcan, 1904.

Dubois, Felix: Le péril anarchiste. Paris, 1894. (Eng. trans.: The Anarchist Peril. Unwin, 1894.)

Garan, J.: L’anarchie et les anarchistes. Paris, 1885.

Ghio, Paul: L’anarchie aux Etats Unis. Paris, Colin, 1903.

Hamon, A.: Le psychology de l’anarchiste socialiste. Paris, Stock, 1895.

Lombroso, Cesare: Gli anarchici. Turin, 1894.

Plechanoff, G.: Anarchismus und Sozialismus. Berlin, 1894. (Eng. trans.: Anarchism and Socialism. Chicago, Chas. H. Kerr & Co.)

Shaw, Bernard: The Impossibilities of Anarchism. Fabian Tract No. 46.

Simons, A. M.: Socialism vs. Anarchy. Chicago, Chas. H. Kerr & Co. (Pocket Lib. of Socialism.)

Zenker, E. V.: Der Anarchismus. Kritische Geschichte der anarchistischen Theorien. Jena, 1895. (Eng. trans.: Anarchism, a Criticism and History of the Anarchist Theory. Putnam, 1897.)

PART V.— SOCIAL REFORMS WITH LESS EXTENSIVE PROBLEMS.

1. Land Nationalization and Single Tax.

The doctrine. — Methods of reform proposed. — The founder of the Single Tax movement, and some facts of his life which throw light on his theories. — Economic and social results expected. — Critical examination of the doctrine. — Relation of socialists to these movements.

An Essay on the Right of Property in Land. 1782. Reprinted, London, 1891, under the title “Birthright in Land.”

Cox, H.: Land Nationalization. London, Methuen, 1892.

Dawson, W. H.: Unearned Increment. London, Swan Sonnenschein, 1890.

Hobson: Coöperation in the Land.

Moore: Back to the Land.

Simons, A. M.: Single Tax vs. Socialism, Chicago, Chas, H. Kerr & Co. (Pocket Lib. of Socialism.)

Stubbs, C. W.: Land and the Laborer. London, Swan Sonnenschein, 1891,

Thackeray, S. W.: The Land and the Community. N. Y., Appleton & Co., 1889.

Among good criticisms of the theory:

Hobson, J. A.: The Influence of Henry George in England. (Fortnightly Review, 1897, December.)

Schäffle, A.: Inkorporation des Hypothekencredits. Tübigen, 1883.

Smart, W.: Taxation of Land Values and the Single Tax.

Walker, Francis A.: Land and Its Rent. Little, Brown & Co., Boston, 1883. Pp. 141-182.

Publications of the “Land and Property Defense League.”

2. Coöperation.

Coöperation from the social reform point of view. — Coöperation and communism. — Coöperation and profit sharing. — The several kinds of coöperative societies. — The status of the coöperative movement in the leading nations of Europe and America. — The outlook for coöperation. — Arguments in favor of the movement. — Its weaknesses. — Socialists’ attitude toward it.

Bertrand, Louis: Histoire de la coöpération en Belgique.

Gide, Ch.: La Coöpération. Paris, Librarie de la société du Recueil genéral des lois et des arrêts et du Journal du palais. 1900.

Holyoake, G. J.: History of Coöperation in England. London, 1875-85. 2 vols.

Hughes, Thomas, and Neale, Edward V.: A Manual for Coöperators. Manchester, 1888.

Hubert-Valleroux, P.: La Coöpération. Paris, 1904.

Jones, Benjamin: Coöperative Production. Oxford, The Clarendon Press, 1894.

Pissamiglio: Distributive Coöperative Societies.

Van Marken: Industrial Social Organization. Delft., 1901.

Wright, Carrol D.: Manual of Distributive Coöperation. Boston, 1885.

On relation to Social Democracy:

Anseele, E.: “Socialism and Coöperation” in Ensor. Modern Socialism, pp. 284-301.

Gerhard, Adele: Konsumgenossenschaft und Sozialdemokratie. Nürnberg, Wörlein u. Co., 1895.

Kautsky, K.: Konsumverein u. Arbeiterbewegung. (Wiener Arbeiterbibliothek, Heft. 1) Vienna, 1897.

Milhaud, Ed.: La démocratie socialiste allemande. Pp. 442-517.

Reports and publications:

Annual reports of Coöperative Unions, of Coöperative Wholesale, of “Vooruit,” Maison du Peuple, etc.

Annual reports of Registrar of Friendly Societies.

Coöperative News, Manchester.

3. Trade-Unionism.

How far trade-unionism may justifiably be included in a study of social reform movements. — The objects of trade-unionism, and how these objects compare with the primary aims of other social reform movements. — The exact distinction between the “industrial democracy” this movement represents, and “social democracy,” and, in general, the relation between trade-unionism and socialism.

Herkner, Heinrich: Die Arbeiterfrage. Berlin, J. Guttentag, 1902.

Lange, Friedrich A.: Die Arbeiterfrage. Winterthur, 1879.

London, Jack: The Scab. Chicago, Chas. Kerr & Co. (Pocket Lib. of Socialism.)

Nicholson, J. S.: Strikes and Social Problems. (Essay on Labor Combinations and Competition.)

Troeltseh, W., and Hirschfeld, P.: Die deutschen Sozialdemokratischen Gewerkschaften. Berlin, Carl Heymanns Verlag, 1906.

Webb, Sidney and Beatrice: Industrial Democracy. 2 vols.

PART VI.— UTOPIANISM.

  1. The relation of Utopianism to social reform. — The types of Utopian writings. — Some leading modern examples of Utopian plans, and their place in current reform movements. — The question of the utility of Utopianism.

Bellamy, Ed.: Looking Backward. 1870. London, Reeves & Co., 1888.

Equality. New York, Appleton, 1897.

Ellis, Havelock: The Nineteenth Century, an Utopian Retrospect. Boston, Small, Maynard & Co., 1901.

Hertzka, Theodor: Freiland. (Eng. trans.: Freeland. Translated by A. Ransom. N. Y., 1891.)

Hobson, J. A.: Edward Bellamy and the Utopian Romance. (Humanitarian, 1898. Vol. 13.)

Howells, W. D.: A Traveller from Altruria.

Kaufmann, M.: Utopias from Sir Thomas Moore to Karl Marx:. London, Paul, 1879.

Morris, Wm.: News from Nowhere. Longmans, 1896.

Wells, H. G.: A Modern Utopia. Chapman & Hall, 1905.

Source: University of California, Department of Economics. Topics and References for Economics 42: Contemporary Theories of Social Reform. Berkeley: The University Press, 1906. 29 pages.

 

Categories
Bibliography Princeton Suggested Reading

Princeton. Reading List for Money. Wallich, 1950

 

I first encountered the name of Henry C. Wallich as the Holy Spirit of the Newsweek trinity of economists (In the Name of Samuelson, Friedman, and Wallich, Amen) back in high-school when my economics teacher (for the record, football coach and business teacher, Mr. Steve Palenchar) assigned us the weekly Newsweek column for reading and discussion. I never had a course with Henry Wallich at Yale so I have no personal impression to share. 

In the meantime I have had the good fortune of meeting and working with his daughter, economist Christine Wallich (a Yale economics Ph.D. and former economist with the World Bank), at the American Academy in Berlin where she sits on the board of trustees.

The following eleven page reading list on money from Wallich’s Princeton days was found in Martin Shubik‘s papers. For exactly mid-20th-century, this list serves as a most comprehensive and convenient benchmark for the state of monetary macroeconomics.

_________________

READING LIST FOR COURSE IN MONEY

Henry C. Wallich
Spring Term—1950

  1. Current Monetary Issues
    1. Minimum Reading
      • Bach, George L.: “Monetary, Fiscal Policy, Debt Policy, and the Price Level,” American Economic Review (Papers and Proceedings of American Economic Association), May 1947, pp. 228-42.
      • Board of Governors of the Federal Reserve System: Postwar Economic Studies, No. 8, Nov. 1947, article by Thomas and Young.
      • Mints, L. W. and others: “A Symposium on Fiscal and Monetary Policy,” Review of Economic Statistics, XXVIII, May 1946, pp. 60-84.
      • Wallich, H. C. “Debt Management as an Instrument of Economic Policy,” American Economic Review, June 1946, pp. 292-310.
    2. Recommended Reading
      • Abbott, Charles C. “The Commercial Banks and the Public Debt,” American Economic Review, May 1947 (Papers and Proceedings of American Economic Association), pp. 265-76.
      • Burkhead, Jesse V. “Full Employment and Interest-Free Borrowing,” Southern Economic Journal, Vol. XIV, July 1947, pp. 1-13.
      • Carr, Hobart C. “The Problem of the Bank-held Government Debt,” American Economic Review, December 1946, pp. 833-42.
      • Committee on National Debt Policy. Our National Debt and the Banks, National Debt Series 2, New York: 26 Liberty Street, 1947, 18 p.
      • Leland, Simeon E. “Management of the Public Debt After the War,” American Economic Review, June 1944 supplement, pp. 89-134.
      • Seltzer, L.H. “The Changed Environment of Monetary-banking Policy,” American Economic Review, XXVI, May 1946.
      • Sproul, Allan. “Monetary Management and Credit Control,” American Economic Review, XXXVII, June 1947, pp. 339-50.
      • Symposium: “How to Manage the National Debt,” Review of Economics and Statistics, XXXI, Feb. 1949.
      • Thomas, Woodlief. “The Heritage of War Finance,”American Economic Review, (Papers and Proceeding of American Economic Association) May 1947.
      • Wallich, H.C. “The Changing Significance of the Interest Rate,” American Economic Review, Dec. 1946, pp. 761-787.
      • U. S. Congress—Joint Committee on the Economic Report. “Monetary, Credit, and Fiscal Policies” (A Collection of Statements Submitted to the Subcommittee on Monetary, Credit, and Fiscal Policies by Government Officials, Bankers, Economists, and Others), Washington, 1949 (especially Chs. 2 and 3).
      • U. S. President. The Economic Report of the President, 1948, 1949, and 1950 (together with the Annual Economic Review of the Council of Economic Affairs), Washington, (sections on monetary and fiscal policies).
      • Willis, J. Brooke. “The Case Against the Maintenance of the Wartime Pattern of Yields on Government Securities,” American Economic Review, May 1947 (Papers and Proceedings of the American Economic Association), pp. 216-27.
      • Woodward, Donald B. “Public Debt and Institutions,” American Economic Review, May 1947 (Papers and Proceedings of American Economic Association), pp. 157-83.
    3. Other Reading
      • Abbott, Charles C. Management of the Public Debt, New York: McGraw-Hill Book Co., Inc., 1946, 194 p.
      • Board of Governors of the Federal Reserve System. Annual Reports for the years 1945-48.
      • Board of Governors of the Federal Reserve System. “Debt Retirement and Bank Credit,” Federal Reserve Bulletin, July 1947, pp. 775-87.
      • Board of Governors of the Federal Reserve System. Public Finance and Full Employment, Postwar Economic Studies No. 3, Washington, December 1945, 157 p.
      • Burgess, W. Randolph. “Free Enterprise and the Management of the Public Debt,” Proceedings of the Academy of Political Science, New York: Columbia University, 116th& Broadway, Vol. XXII, May 1947, pp. 256-67.
      • Chandler, L. V. “Federal Reserve Policy and the Federal Debt,” American Economic Review, XXXIX, March 1949.
      • Domar, Evsey D. “The Distribution of Interest on the Public Debt,” Current Comments, June 5, 1946.
      • Federal Reserve Bank of New York: “Federal Reserve Credit and Credit Policy,” Annual Report, 1947, pp. 24-32.
      • Homan, P. T. and F. Machlup (eds.). Financing American Prosperity, New York: Twentieth Century Fund, 1945.
      • Institute of International Finance. Credit Policies of the United States, Bulletin No. 152, New York: New York University, 90 Trinity Pace, September 1947, 16 p.
      • Institute of International Finance: Management of the Public Debt, Bulletin No. 142, New York: New York University, 90 Trinity Place, February 1946, 18 p.
      • Institute of International Finance. The Means of Payment and Debt Management, Bulletin No. 148, New York: New York University, 90 Trinity Place, February 1947, 15 p.
      • Institute of International Finance. The Public Debt and the Banks. Bulletin No. 137, New York: New York University, 90 Trinity Place, May 1945, 18 p.
      • Lanston, A. G. “Federal Fiscal Policy and Debt Management,” Commercial and Financial Chronicle, June 12, 1947, 165:3112.
      • Ratchford, B. U. “The Economic and Monetary Effects of Public Debts,” Public Finance, No. 4, 1948 and No. 1, 1949.
      • Seltzer, L. H. “Is a Rise in Interest Rates Desirable or Inevitable?” American Economic Review, XXXV, Dec. 1945, pp. 831-50.
      • Whittlesey, C.R. “Federal Reserve Policy in Transition,” Quarterly Journal of Economics, LX, May 1946, pp. 340-50.
  2. Monetary and Banking Organization
    1. Minimum Reading
      • Board of Governors of the Federal Reserve System. Banking Studies. Baltimore: Waverly Press, 1941 (first choice).
        or
        James, F. C. Economics of Money, Credit and Banking. New York: Ronald Press, 1941, 3rd (Chs. 1-26).
        or
        Thomas, Rollin G. Our Modern Banking and Monetary System, New York: Prentice-Hall, 1945, 812 p. (Chs. 1-30).
    2. Recommended Reading
      • Currie, Lauchlin. The Supply and Control of Money in the United States. Cambridge: Harvard University Press, 1934, 199 p. (Harvard Economic Studies, v. 47), (Part I, and Chs. 13 and 14).
      • Gayer, Arthur D. Monetary Policy and Economic Stabilization. New York: MacMillan Co., 1935, 288 p. (Chs. 4 and 5)
      • Jacoby, N. H. and Saulnier, R. J. Business Finance and Banking. National Bureau of Economic Research, 1947.
      • Keynes, John M. A Treatise on Money. New York: Harcourt, Brace and Co., 1930 (Vol. I, Ch. 1).
      • Ratchford, Benjamin U. “History of the Federal Debt in the United States,” American Economic Review, May 1947 (Papers and Proceedings of American Economic Association), pp. 130-41.
    3. Other Reading
      • Burgess, Randolph W. The Reserve Banks and the Money Market. New York and London: Harper and Brothers, 1927.
      • Clapham, Sir John. The Bank of England. Cambridge Univ. Press, 1944.
      • Conant, C.A. History of Modern Banks of Issue. New York, 6th, 1937.
      • De Vegh, Imrie. The Pound Sterling. New York: Scudder, Stevens and Clark, 1939, 130 p.
      • Dulles, E. L. The French Franc, 1914-1928. New York: MacMillan Co., 1929, 570 p.
      • Feaveryear, A. S. The Pound Sterling. Oxford: Clarendon Press, 1931, 367 p.
      • Institute of International Finance. How to Read the New York Money Market, Pamphlet No. 145. New York: New York University, 90 Trinity Place, September 1946.
      • Institute of Bankers. Current Financial Problems and the City of London. Europa Publ. Ltd., 1949, art. By W.T.C. King “The London Discount Market.”
      • Madden, J. T., and Nadler, M. The International Money Markets. New York: Prentice-Hall, Inc., 1935, 548 p.
      • Mints, L. W. A History of Banking Theory. Chicago: University of Chicago Press, 1945, 319 p.
      • Morgan, E. Victor. The Theory and Practice of Central Banking, 1797-1913. Cambridge University Press, 1943, 252 p.
      • Nadler, Marcus. Money Market Primer. New York: Ronald Press, 1948, 212 p.
      • Plumptre, A. F. W. Central Banking in the British Dominions. Toronto: Toronto University Press, 1940, 462 p.
      • Willis, H. P., and Beckhart, B. H., (eds.) Foreign Banking Systems. New York: H. Holt & Co., 1929, 1305 p.
      • Willis, H. P. Theory and Practice of Central Banking. 1939.
  3. Money in Relation to Income and Prices
    1. Minimum Reading
      • American Economic Association (H. S. Ellis, ed.). A Survey of Contemporary Economics. Philadelphia: Blakiston, 1948 (Ch. By Villard).
      • Haberler, G. Prosperity and Depression. Geneva: United Nations, rev. ed., 1946 (Ch. 8).
      • Hansen, A. H. Monetary Theory and Fiscal Policy. New York: McGraw-Hill, 1949.
      • Harris, S. E. (ed.). The New Economics. New York: Knopf, 1947, (Ch. By Lintner).
      • Keynes, John M. The General Theory of Employment, Interest, and Money. New York: Harcourt, Brace, 1936, (esp. Books 3, 4, 5).
      • Mints, Hansen, Ellis, Lerner, Kalecki. “A Symposium on Fiscal and Monetary Policy,” Review of Economic Statistics, May 1946.
      • Saulnier, R. J. Contemporary Monetary Theory, 1938. (all parts not covered by direct readings of the originals).
      • Wilson, T. Fluctuations in Income and Employment. London: Pitman, 1942 (Part I, Chs. 1-6).
    2. Recommended Reading
      • Angell, James W. The Behavior of Money. New York: McGraw-Hill, 1936, 207 p. (Conclusions to Chs. 1-5, and Ch. 6)
      • Economists’ National Committee on Monetary Policy. Two Programs for Monetary Reform. New York: February 1947.
      • Wallich, H. “The Current of Liquidity Preference,” Quarterly Journal of EconomicsAugust 1946, pp. 490-512.
      • Fellner, William. Monetary Policies and Full Employment. Berkeley: University of California Press, 2nd ed., 1947 (especially Part III).
      • Gayer, Arthur, D. Monetary Policy and Economic Stabilization. New York: MacMillan Co., 1935, 288 p. (Ch. 2 and 12).
      • Hansen, A. H. Fiscal Policy and Business Cycles. New York: Norton, 1941.
      • Harrod, Hansen, Haberler and Schumpeter. “Five Views on the Consumption Function,”Review of Economic Statistics, Nov. 1946.
      • Harrod, R. F. Towards a Dynamic Economics. London: MacMillan, 1948 (Lectures 2 and 5).
      • Hawtrey, R. G. Capital and Employment. London: Longmans Green and Co., 1937, 348 p. (Chs. 7-11).
      • Henderson, H. D. “The Significance of the Rate of Interest,” Oxford Economic Papers, October, 1938.
      • Johnson, G. Griffith, Jr. The Treasury and Monetary Policy 1933-38. Cambridge: Harvard University Press, 1939, 224 p. (Ch. 2, 5-7).
      • Kalecki, M. Essays in Economic Fluctuations. New York: Farrar & Rinehart, 1939.
      • Keynes, John M. A Treatise on Money. New York: Harcourt, Brace, 1930 (Vol. 1, Part II).
      • Klein, L. R. The Keynesian Revolution. New York: MacMillan Co., 1946 (Especially Chs. 3, 4, and 6).
      • Marget, Arthur W. The Theory of Prices. New York: Prentice-Hall, Vol. 1, 1938, 624 p. (Chs. 1, 11-16).
      • Robertson, D. H. Essays in Monetary Theory. London: King, 1940 (Especially Chs. 1-13).
      • Ruggles, Richard. An Introduction to National Income and Income Analysis. New York: McGraw-Hill Co., Inc., 1949 (Chs. 9-12).
      • Simons, H. C. Economic Policy for a Free Society. Chicago: University of Chicago Press, 1948 (Especially Chs. 2, 7, 13).
      • Spahr, W. E. “The Management of Our Monetary System,” Commercial and Financial Chronicle, March 20, 1947.
      • Terborgh, George. The Bogey of Economic Maturity. Chicago: Machinery and Allied Products Institute, 1945.
      • Tobin, James. “Liquidity Preference and Monetary Policy,” Review of Economic Statistics, XXIX, May 1947, pp. 124-31.
      • Viner, J. Studies in the Theory of International trade. New York: Harper, 1939 (Chs. 3-7).
      • Williams, John H. “An Appraisal of Keynesian Economics,” American Economic Review, Supplement, XXXVIII, May 1948.
    3. Other Reading
      • Arndt, H. W. The Economic Lessons of the Nineteen-Thirties. London: Oxford University Press, 1944 (especially Dissenting Note).
      • Beveridge, W. H. Full Employment in a Free Society. London: Allen and Unwin, 1944 (Part I, Part IV).
      • Burns, Arthur F. “Economic Research and the Keynesian Thinking of Our Times,” (26thAnnual Report). New York: National Bureau of Economic Research, 1947.
      • Clark, Colin. “Public Finance and Changes in the Value of Money,” Economic Journal, LV, Dec. 1945, pp. 371-89.
      • Crawford, Arthur W. Monetary Management under the New Deal. Washington: American Council on Public Affairs, 1940.
      • Fellner, W. “Monetary Policy and the Elasticity of Liquidity Functions,” Review of Economic Statistics, February 1948, pp. 42-44.
      • Goldenweiser, E. A. Monetary Management (Committee for Economic Development Research Study). New York: McGraw-Hill, 1949.
      • Haberler, G. Prosperity and Depression. Geneva: United Nations, rev. ed., 1946.
      • Hardy, C. O. “Fiscal Operations as Instruments of Economic Stabilization,” American Economic Review, May 1948, pp. 395-416.
      • Harris, Seymour E. (ed.) Economic Reconstruction. New York: McGraw Hill, 1945, article by H. S. Ellis, “Central and Commercial Banking in Postwar Finance”, pp. 237-52.
      • Harrod, R. F. Towards a Dynamic Economics. London: MacMillan, 1948.
      • Hawtrey, R. G. The Art of Central Banking. London: Longmans, 1932.
      • Hawtrey, R. G. Capital and Employment, London: Longmans, 2nd
      • Hawtrey, R. G. Currency and Credit. London: Longmans, 3rd, 1928.
      • Hawtrey, R. G. The Gold Standard in Theory and Practice. London: Longmans, Green & Co., 1947, 280 p.
      • Hayek, F. A. von. Monetary Theory and the Trade Cycle. New York: Harcourt, Brace and Co., 1933, 244 p.
      • Hayek, F. A. von. Prices and Production. London: Routledge, 1935.
      • Hicks, J. R. “Mr. Keynes and the Classics: A Suggested Interpretation,” Econometrica, V, 1937 (Reprinted in Readings in the Theory of Income Distribution, Philadelphia Blakiston, 1946).
      • Hick, J. R. Value and Capital. Oxford: Clarendon Press, 1939.
      • Keynes, J. M. A Tract on Monetary Reform. New York: Harcourt, Brace, 1924.
      • Kuznets, Simon. “Capital Formation, 1879-1938,” in Studies in Economics and Industrial Relations. Philadelphia: University of Pennsylvania Press, 1941.
      • Lerner, Abba P. The Economics of Control. New York: MacMillan, 1944 (especially Chs. 21-25).
      • Lindahl, Erik. Studies in the Theory of Money and Capital. New York: Farrar and Rinehart, 1939 (especially Part II).
      • Marget, Arthur W. The Theory of Prices. New York: Prentice-Hall, Vol. 2, 1942, 802 p. (especially Chs. 1-3, 8,9).
      • Mellon, Helen J. Credit Control: A Study of the Genesis of the Qualitative Approach to Credit Problems. Washington: American Council on Public Affairs, Studies in Economics, 1941, 134 p.
      • Modigliani, F. “Fluctuations in the Saving-income Ratio: A Problem in Economic Forecasting,” Studies in Income and Wealth, XI. New York: National Bureau of Economic Research, 1949.
      • Modigliani, F. “Liquidity Preference and the Theory of Interest,” Econometrica, XII, Jan. 1944, pp. 45-88.
      • Moulton, Harold G. The New Philosophy of Public Debt. Washington: Brookings Institution, 1943, 93 p.
      • Myers, M. G. Monetary Proposals for Social reform. New York: Columbia University Press, 1940, 191 p.
      • Myrdal, Gunnar. Monetary Equilibrium. London W. Hodge, 1939, 214 p.
      • Niebyl, Karl H. Studies in the Classical Theories of Money. New York: Columbia University Press, 1946, 190p.
      • Pigou, A. C. Employment and Equilibrium. London: MacMillan Co., 1941, 283 p.
      • Pigou, A. C. Lapses from Full Employment. London: MacMillan, 1945.
      • Reeve, J. E. Monetary Reform Movements. Washington: American Council on Public Affairs, 1943, 404 p.
      • Rist, Charles. History of Monetary and Credit Theory from John Law to Present Day. London: George Allen, 1940, 442 p. (especially Chs. 3-7).
      • Rueff, J. “The Fallacies of Lord Keynes’ General Theory,” Quarterly Journal of Economics, May, 1947.
      • Samuelson, P. A. “The Effect of Interest Rate Increases on the Banking System,” American Economic Review, March 1945, p. 16ff.
      • Simmons, E. C. “The Role of Selective Credit Control in Monetary Management,” American Economic Review, Sept. 1947, pp. 633-41.
      • Warburton, Clark. “The Monetary Theory of Deficit Financing,” Review of Economic Statistics, May 1945, pp. 74-84.
      • Wicksell, Knut. Interest and Prices. London: MacMillan, 1936.
      • Wright, D. M. The Economics of Disturbance. New York: MacMillan, 1947 (Ch. 2).
      • Wright, D. M. “The Future of Keynesian Economics,” American Economic Review, XXXV, June 1945, pp. 284-307.
      • Wood, E. English Theories of Central Banking Control, 1819-1858, 1938.
  4. International Aspects
    1. [No minimum reading listed]
    2. Recommended Reading
      • Balogh, T. “The Concept of a Dollar Shortage,” The Manchester School, XVII, May 1949, pp. 186-201.
      • Ellis, H. S. “The Dollar Shortage in Theory and Fact,” Canadian Journal of Economics and Political Science, XIV, Aug. 1948, pp. 358-372.
      • Gayer, Arthur D. Monetary Policy and Economic Stabilization. New York: MacMillan Co., 1935, 288 p. (Chs. 1-3).
      • Goldenweiser, E. A. and Bourneuf, A. “Bretton Woods Agreements,” Federal Reserve Bulletin, September, 1944.
      • Graham, Frank D. “The Cause and Cure of ‘Dollar Shortages’,” (Essays in International Finance, No. 10), Princeton: Princeton University Press, Jan. 1949.
      • Haberler, G. “Some Economic Problems of the European Recovery Program,” American Economic Review, XXXVIII, Sept. 1948, pp. 495-525.
      • Johnson, G. Griffith, Jr. The Treasury and Monetary Policy 1933-38. Cambridge: Harvard University Press, 1939, 224 p. (Chs. 2-5).
      • Lary, H. B.: The United States in the World Economy, Washington: Department of Commerce, 1943.
      • League of Nations. International Currency Experience, 1944.
      • Machlup, F. International Trade and the National Income Multiplier, Philadelphia: Blakiston, 1943 (especially Chs. 1-4).
      • Mikesell, R. F. “International Disequilibrium,” American Economics Review, XXXIX, June 1949, pp. 618-45.
      • Nurkse, R. “Conditions of International Monetary Equilibrium,” (Essays in International Finance, Spring 1945. Princeton: Princeton University.
      • Triffin, Robert. “National Central Banking and the International Economy,” Postwar Economic Studies, No. 7, September 1947 of the Board of Governors of the Federal Reserve System.
      • Williams, John H. “Europe after 1952: The Long-term Problem,” Foreign Affairs, April 1949.
      • Williams, John H. Postwar Monetary Plans and Other Essays. New York: Knopf, 1947, 312 p. (Part I).
    3. Other Reading
      • Angell, James W. Theory of International Prices. Cambridge: Harvard University Press, 1926 (Harvard Economic Studies, vol. 28).
      • Balogh, T. “Britain’s Economic Problem,” Quarterly Journal of Economics, LXIII, Feb. 1949, pp. 32-67.
      • Balogh, T. “Britain, O.E.E.C., and the Restoration of a World Economy,” Bulletin of the Oxford Institute of Statistics, XI, Feb.-March 1949.
      • Balogh, T. “Exchange Depreciation and Economic Readjustment,” Review of Economics and Statistics, XXX, Nov. 1948, pp. 276-285.
      • Balogh, T. “The United States and the World Economy,” Bulletin of the Oxford Institute of Statistics, VIII, Oct. 1946.
      • Brown, Wm. Adams. The International Gold Standard Reinterpreted, 1914-34. New York: NBER, 1940, Publ. No. 37, Vols. 1 and 2.
      • Buchanan, N. S. International Investment and Domestic Welfare. New York: H. Holt & Co., 1945.
      • Friedrich, C. J. and Mason, E. S. (eds.) Public Policy. Harvard Univ. Grad. School of Pub. Adm., 1941, article by Salant on “Foreign Trade Policy in the Business Cycle.”
      • Gilbert, Milton. Currency Depreciation and Monetary Policy. Philadelphia: University of Pennsylvania Press, 1939, 167 p.
      • Graham, F. D. Exchanges, Prices and Production in Hyper-Inflation: Germany, 1920-1923. Princeton: Princeton University Press, 1930.
      • Graham, F. D. and Whittlesey. Golden Avalanche. Princeton: Princeton University Press, 1939.
      • Graham, F. D. The Theory of International Values. Princeton: Princeton University Press, 1948.
      • Harris, Seymour E. Exchange Depreciation. Cambridge: Harvard University Press, 1936 (Harvard Economic Studies, vol. 53), especially Chs. 1-2.
      • Hawtrey, R. G. “The Function of Exchange Rates,”Oxford Economic Papers, I, June 1949, pp. 145-56.
      • Henderson, Sir Hubert D. “The Function of Exchange Rates,” Oxford Economic Papers, I, January 1949.
      • Henderson, Sir Hubert D. “The International Problem” (Stamp Memorial Lecture). London: Oxford University Press, 1946.
      • Keynes, John M. “The Balance of Payments of the United States,” Economic Journal, LVI, June 1946, pp. 172-87.
      • Nurkse, Ragnar. “International Monetary Policy and the Search for Economic Stability,” American Economic Review, Supplement, XXXVII, May 1947, pp. 569-80.
      • Polak, J. J. “Exchange Depreciation and International Monetary Stability,” Review of Economics and Statistics, XXIX, Aug. 1947, pp. 173-83.
      • Williams, John H. “The Task of Economic Recovers,” Foreign Affairs, Jul 1948.

 

Source:  Duke University. David M. Rubenstein Rare Book & Manuscript Library. Economists’ Papers Archive. Martin Shubick Papers. Box 2, Folder “Notes, Money, Prof. Henry Wallich Spring 1950”.

Image Source: Henry C. Wallich, 1962 John Simon Guggenheim Memorial Foundation Fellow  .

Categories
Bibliography Chicago

Chicago. Course Bibliography (books). Economics and Social Institutions. Knight, 1949

 

 

Together Frank Hyneman Knight (Morton D. Hull Distinguished Service Professor of the Social Sciences) and Charner Marquis Perry (Associate Professor of Philosophy) taught a course at mid-century on institutional economics with the title “Economics and Social Institutions”. The course was a joint graduate offering of the departments of economics and philosophy at the University of Chicago. This post provides a transcription of a bibliography of books for the course that was found filed among Milton Friedman’s papers at the Hoover Institution Archives. One presumes from the title “Bibliography A: Books” that there must have been a “Bibliography B: articles and chapters”, but to find a copy of that B-Bibliography, we will need to go elsewhere and have a bit of luck.

_______________

Course Announcement

[Economics] 305. Economics and Social Institutions (identical with Philosophy 305). The relations between the classical mathematical and the institutional historical views of economic phenomena; institutional factors as the framework and much of the content of the price economy; late nineteenth-century economic society as a complex of structural forms. Prereq: Econ 301 and some European economic history. Win: M 3:30-5:30; Knight, Perry.

 

Source:  University of Chicago. Announcements, Sessions of 1950-1951. Volume L, No. 3 (June 1, 1950), p. 29.

_______________

ECONOMICS AND SOCIAL INSTITUTIONS.
(ECON. 305; Philos. 305)

BIBLIOGRAPHY—A:  BOOKS.
(WINTER, 1949)

Ardzrooni, L. (Ed.)—Essays in our Changing Order (Veblen)

Ayres, C.E.—The Theory of Economic Progress

Ibid.—The Economic Order
Ibid.—The Divine Right of Capital

Ballard, L.V.—Social Institutions

Barnes, Harry E.—History and Prospects of the Social Sciences

Ibid.—Intellectual and Cultural His. Of the Western World

Barth, Paul,—Die Philosophie der Geschichte als Sociologie

Barnes, H.E. and Becker,—Social Thought from Lore to Science

Beard, Miriam,—History of the Business Man

Bucher, Karl,–Industrial Evolution

Bury, J.B.—The idea of Progress

Ibid.—History of Freedom of Thought
Ibid.—Evolution and History (in Evolution in Modern Thought)

Clark, John M.—Essays in Social Economics

Commons, John R.—Institutional Economics

Ibid.—Legal Foundations of Capitalism

Dewey, John,–Influence of Darwin on Philosophy

Dickinson, H.D.—Institutional Revenue

Dorfman, Joseph—Thorstein Veblen and His America

Engel-Janozi, Fr.—Growth of German Historicism

Einstein, Lewis,–Historical Change

Evolution in Modern Thought, (Mod. Lib.—Various authors)

Gambs, John S.—Beyond Supply and Demand (Bibliog., short)

Gras, N.S.B.—Introduction to Economic History

Ibid.—Business and Capitalism

Gruchy, Allan L.—Modern Economic Thought; The American Contribution

Hamilton, Walton H.—The Pattern of Competition

Hayes, E.C. (Ed.)—Recent Developments in the Social Sciences (J.M. Clark)

Hertzler, J.O.—Social Institutions

Herskovits, J.M.—The Economic Life of Primitive Peoples

Homan, Paul T.—Contemporary Economic Thought

Hook, Sidney,—From Hegel to Marx

Ibid.—Toward the Understanding of Karl Marx

Huxley, Julian,—Evolution

Jones, Richard,—Introductory Lecture on Political Economy

Keynes, J.N.—Scope and Method of Pol. Econ. (Esp. Chaps. IX, X)

Korsch, Karl,—Karl Marx

Miller, Hugh,—History and Science

Mitchell, Wesley C.—The Backward Art of Spending Money, etc.

Mitchell, William,—The Early History of the Law Merchant

Morgan, C. Lloyd,—Emergent Evolution

Ibid.—The Emergence of Novelty

Mukerjee, R.—The Institutional Theory of Economics

Mumford, Lewis,—Technics and Civilization

Müller-Lyer,—A History of Social Development (Econ. Stages)

Murchison, C. (Ed.)—Psychologies of 1925

Ogburn, William F.—Social Change

Ibid., and Goldenweiser, E.A.—Social Sciences in Interrelations

Parsons, Talcott,—The Structure of Social Action

Pound, Roscoe,—Interpretations of Legal History

Rice, Stuart A. (Ed.)—Methods in Social Science

Robertson, H.M.—The Rise of Economic Individualism

Sapir, Edward—Language (Chs. 7-8 on linguistic change)

Sée, Henri,—The Economic Interpretation of History

Ibid.—Modern Capitalism (Les origins de cap. modern)

Seligman, E.R.A.—The Economic Interpretation of History

Shotwell, J.T.—Introduction to History of History (Introduction and last chapter)

Simiand, François,—La méthode positive en économie politique

Small, A.W.—The Origins of Sociology (Historism and Methodenstreit)

Sombart, Werner,—The Quintessence of Capitalism

Ibid.—Die drei Nationalökonomien; Der moderne Kapitalismus

Spengler, O.—Decline of the West

Sumner, William G.—Folkways

Tawney, R.H.—Religion and the Rise of Capitalism

Teggart, F.J.—The Theory of History

Teggart, R.V.—Thorstein Veblen

Toynbee, A.—The Study of History

Troeltsch, Ernst,—Der Historismus; Other works

Tugwell, R.G. (Ed.)—The Trend of Economics

Veblen, Thorstein B.—The Place of Science in Civilization, etc.

Ibid.—(W.C. Mitchell, Ed.)—What Veblen Taught

Ibid.—(L. Ardzrooni, Ed.)—Essays in our Changing Order

Weber, Max,—Protestantism and the Spirit of Capitalism (Tr. Parsons)

Ibid.—General Economic History (Tr. Knight)

Ibid.—Wirtschaft und Gesellschaft (Tr. in part, Parsons, Anderson)

*  *  * *  *  *

Economic History. Heaton; Knight, Barnes and Fluegel, etc.

Histories of Economic Thought, on “schools”; on the substance, esp. Edmund Whittaker, History of Economic Ideas, first 7 Chaps.

Encyclopedias, especially Encyclopaedia of the Social Sciences. Especially articles on Economics, Secs. on Historical and Institutional Schools and on Economic History; also on Institutions, etc., etc.

 

Source:  Hoover Institution Archives. Papers of Milton Friedman. Box 77, Folder 5 “University of Chicago, Econ. 305”.

Image Source: Frank H. Knight from University of Chicago Photographic Archive, apf1-03513, Special Collections Research Center, University of Chicago Library.

Categories
Bibliography Harvard Suggested Reading Syllabus

Harvard. Course outlines and reading lists. Business Cycles and Economic Forecasting, Haberler & Hansen, 1955-56

 

The pairing of Gottfried Haberler and Alvin Hansen at Harvard for business cycle teaching spanned decades.

For comparison, the reading list and final exam for the course 17 years earlier:   Haberler and Hansen, 1938.

________________

Economics 245a
Business Cycles

Professor Haberler — Fall Term, 1955

Part I. Basic Facts and Concepts.

Types of economic changes and fluctuations

Definition of business cycles

Constant and varying characteristics

Income, production, employment, unemployment
Prices, wages, interest rates, etc.

Cyclical phases

Amplitude, length

Short cycles, intermediate cycles, long waves

Cycles and crises

Cycle history

Approaches to the study of business fluctuations

Descriptive and historical
Statistical and econometric
Theoretical

Part II. Explanation of Business Cycles

Theory of business cycles and theory of employment

Economic fluctuations and long-term growth

Formal characteristics of cycle theories

Statics-dynamics
Exogenous-endogenous theories

Older Cycle Theories

“Monetary” theories vs. “real” theories
Savings — investment
Inventions, innovations; Schumpeter’s theory
Psychological factors: Pigou, Keynes
Agriculture and the business cycle

Modern Cycle Theories

Keynesian contribution
Multiplier — acceleration models
Harrod, Hansen, Samuelson, Kaldor, Kalecki, Metzler
Hicks’ “Contribution to the Theory of the Trade Cycle”
Inventory cycles
The role of wage and price rigidity in the cycle
Competition and monopoly and the business cycle
Many-cycle hypothesis
Is there still a business cycle?

Part III. Economic Growth

Part IV. Business Cycle Policy

Cycle Policy and Employment Policy

Can and should the Cycle be suppressed?

Have depressions a useful function?

Should business booms be prevented?

Preventive and curative depression policy?

Instruments of Policy

Monetary and credit policies
Fiscal policies
Price and wage policies
The role of business forecasting
Other measures

International aspects of business cycles and business cycle policy

Business cycles in planned economies

 

General Texts and Comprehensive Monographs

A. F. Burns, The Frontiers of Economic Knowledge (National Bureau of Economic Research, 1954)

Hansen, Business Cycles and National Income

Schumpeter, Business Cycles

Achinstein, Introduction to Business Cycles

Mitchell, Business Cycles

Bratt, Business Cycles and Forecasting

Pigou, Industrial Fluctuations (2ndedition, 1929)

Tinbergen and Polak, Dynamics of Business Cycles

Haberler, Prosperity and Depression

Gordon, Business Fluctuations

Readings in Business Cycle Theory (Blakiston)

Hansen-Clemence, Readings in Business Cycles and National Income

Readings in Monetary Theory (Blakiston)

N.B.E.R., Conference on Business Cycles

Speithoff, in International Economic Papers, III

Post Keynesian Economics. Kurihara, editor, Rutgers University Press, 1955.

 

Specific Readings

Part I.

Blakiston, Readings in Business Cycle Theory, Chs. 1, 2, 3.

Haberler, Prosperity and Depression, Ch. 9

Hansen, Business Cycles and National Income, Part I

Hansen-Clemence, Readings, Chs. 2, 3, 4 (for Part II: Chs. 11, 12, 16; for Part III: Chs. 28, 33, 36)

Mitchell, What Happens During Business Cycles? Chs. 2, 3, 4, 8, 10

N.B.E.R., Conference on Business Cycles, Gordon, Klein

Tinbergen-Polak, Dynamics of Business Cycles, Part I

H. L. Beales, “The Great Depression,” Economic History Review, October 1934

Slichter, “The Period 1919-1936….,” RES, 1937

Gordon, R. A., “Investment Behavior and Business Cycles,” RES, (to be published)

Ames, “A Theoretical and Statistical Dilemma—the Contributions of Burns, Mitchell, and Frickey to Business Cycle Theory, Econometrica, October 1948

K. D. Roose, “The Empirical Status of Business Cycle Theory,” Journal of Political Economy, October 1952

K. D. Roose, The Economics of Recession and Revival, New Haven, 1954

Part II.

(1) Haberler, Chs. 3, 8, 13
Hansen, Part III

(2) Schumpeter, Theory of Economic Development, Ch. 6
Frisch, “Propagation Problems and Impulse Problems….,” in Economic Essays in Honor of G. Cassel
Goodwin, “Innovations and Irregularity…,” RES, 1946

(3) Harrod, Toward a Dynamic Economics
Baumol, Economic Dynamics, Ch. 4

(4) Hicks, Trade Cycle
Goodwin, “Secular and Cyclical Aspects of Multiplier and Accelerator” in Income, Employment and Public Policy
Goodwin, “A Nonlinear Theory of the Cycle,” RES, Nov. 1950
Alexander, “Issues of Business Cycle Theory,” AER, Dec. 1951
Duesenberry, “Hicks on the Trade Cycle,” QJE, August 1950
Chenery, “Overcapacity and the Acceleration Principle,” Econometrica, Jan. 1952
Alexander, “Accelerator as a Generator of Steady Growth,” QJE, May 1949
Matthews, “Capital Stock Adjustement—Theories of the Trade cycle and the Problem of Policy” in Post-Keynesian Economics, Kurihara, ed.
Kaldor, “Economic Growth and Cyclical Fluctuations,” Economic Journal, March 1954
Meyer and Kuh, “Acceleration and Related Theories: An Empirical Inquiry,” RES, August 1955

(5) Keynes, General Theory…, Ch. 22
New Economics, Harris, ed., Ch. 36 (Goodwin), Ch. 39 (Smithies), Ch. 40 (Tobin)
Readings, Ch. 5 (Ohlin), Ch. 12 (Samuelson)
Kaldor, “A Model of the Trade Cycle,” Economic Journal, 1940
Kalecki, Essays in Theory of Economic Fluctuations
Fellner, “Employment Theories and Business Cycles,” in Survey of Contemporary Economics, 1948, Vol. I, Ellis, editor.

(6) Metzler, “Nature and Stability of Inventory Cycles,” RES, 1941
Abramovitz, Inventories and Business Cycles (and in Conference, above)
Nurkse, “The Cyclical Pattern of Inventory Investment,” QJE, August 1952

(7) Readings, Part IV, Monetary Theory
Haberler, Ch. 2
Wicksell, Lectures, II, pp. 209 ff.
Fisher, “Debt-Deflation…,” Econometrica, 1933

Part III.

Domar, “Capital Expansion, Rate of Growth and Employment,” Econometrica, April 1946
Harrod, Dynamic Economics
Harrod, “An Essay in Dynamic Theory,” in Harrod, Economic Essays
N.B.E.R., Studies in Income and Wealth, No. 16, Long-Range Economic Projection
L. B Yeager, “Some Questions about Growth Economics,” AER, March 1954
Meier, “Some Questions about Growth Economics—Comment,” and Yeager, “Reply,” AER, December 1954

Part IV.

Bishop, “Alternative Expansionist Fiscal Policies…,” in Income, Employment and Public Policy
Readings in Monetary Theory (Friedman)
Hansen, Part IV
N.B.E.R., Conference on Regularization of Business Investment, 1951
N.B.E.R., Studies in Income and Wealth, No. 17, Short-term Economic Forecasting Readings in Fiscal Policy (Richard Irwin).

*  *  *  *  *  *  *  *

BUSINESS CYCLES AND ECONOMIC FORECASTING
Economics 245b
Spring 1956
Professor Hansen

  1. Archibald, G.C., “Inventory Investment and the Share of Wages”, THE ECONOMIC JOURNAL, June, 1955.
  2. Brems and Ozga, “Economic Growth and the Price Level”, THE ECONOMIC JOURNAL, March, 1955.
  3. Kaldor, N., “The Relation of Economic Growth and Cyclical Fluctuations”, THE ECONOMIC JOURNAL, March, 1954.
  4. Blyth, C.A., “The 1948-49 American Recession”, THE ECONOMIC JOURNAL, September, 1954.
  5. Marris, R.L., “The Position of Economics and Economists in the Government Machine”, THE ECONOMIC JOURNAL, December, 1954.
  6. Gordon, R.A., “Investment Behavior and Business Cycles”, REVIEW OF ECONOMICS AND STATISTICS, February, 1955.
  7. Matthews, R.C.O., “The Saving Function and the Problem of Trend and Cycle”, REVIEW OF ECONOMIC STUDIES, Vol. XXII, 1954-55.
  8. Stigler, George J., “The Early History of Empirical Studies of Consumer Behavior”, THE JOURNAL OF POLITICAL ECONOMY, April, 1954.
  9. Brems, Hans, “Business Cycles and Economic Policy”, THE JOURNAL OF POLITICAL ECONOMY, June, 1954.
  10. Lewis, John P., “The Lull that Came to Stay”, THE JOURNAL OF POLITICAL ECONOMY, February, 1955.
  11. Brown, E. Cary, “The Static Theory of Automatic Fiscal Stabilization”, THE JOURNAL OF POLITICAL ECONOMY, October, 1955.
  12. Nurkse, Ragnar, “Period Analysis and Inventory Cycles”, OXFORD ECONOMIC PAPERS, September, 1954.
  13. Mills, E.S., “Professor Nurkse on Inventory Cycles”, OXFORD ECONOMIC PAPERS, June, 1955.

*  *  *  *  *  *  *  *

BUSINESS CYCLES AND ECONOMIC FORECASTING
Economics 245b
Spring 1956
Professor Hansen

  1. National Bureau of Economic Research, Studies in Income and Wealth, Vol. 16, LONG-RANGE ECONOMIC PROJECTIONS.
  2. Goldsmith, A STUDY OF SAVINGS IN THE U.S. 1955.
  3. Dewhurst, AMERICA’S NEEDS AND RESOURCES, 1955.
  4. Creamer, PERSONAL INCOME DURING BUSINESS CYCLES, (National Bureau of Economic Research), 1956.
  5. Fellner, TRENDS AND CYCLES IN ECONOMIC GROWTH, (Holt), 1956.
  6. Schumpeter, HISTORY OF ECONOMIC ANALYSIS.
  7. Klein, ECONOMIC FLUCTUATIONS IN THE U.S.
  8. Tinbergen, ECONOMETRICS.
  9. Abramovitz, INVENTORIES AND BUSINESS CYCLES.
  10. Baumol, ECONOMIC DYNAMICS.
  11. Harrod, TOWARDS A DYNAMIC ECONOMICS.
  12. Ricardo, Vol. II, NOTES ON MALTHUS, (ed. by Sraffa).
  13. Colean and Newcomb, STABILIZING CONSTRUCTION, (McGraw-Hill).
  14. Smithies, THE BUDGETARY PROCESS IN THE U.S.
  15. Smithies and Butters, READINGS IN FISCAL POLICY.
  16. Colm, ESSAYS IN PUBLIC FINANCE AND FISCAL POLICY.
  17. Burns, THE FRONTIERS OF ECONOMIC KNOWLEDGE.
  18. Hicks, THE TRADE CYCLE.
  19. Kurihara, POST-KEYNESIAN ECONOMICS.
  20. Lundberg, THE BUSINESS CYCLE IN THE POST-WAR WORLD.
  21. Wallich, MAINSPRINGS OF THE GERMAN REVIVAL.
  22. National Bureau of Economic Research, BUSINESS CONCENTRATION AND PRICE POLICY.
  23. Svenniloson, GROWTH AND STAGNATION IN THE EUROPEAN ECONOMY.
  24. Joint Committee on the Economic Report, (Nov. 9, 1955), FEDERAL TAX POLICY FOR ECONOMIC GROWTH AND STABILITY.
  25. PRESIDENT’S ECONOMIC REPORT, 1956.
  26. Lane and Riemersma, ENTERPRISE AND SECULAR CHANGE.

 

Source:  Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003. Box 6, Folder “Economics, 1955-56 (2 of 2)”.

Image Source:  Hansen (left) and Haberler (right). Harvard Class Album, 1942.

Categories
Bibliography Johns Hopkins Pedagogy

Johns Hopkins. Richard T. Ely on Teaching Political Economy, 1885

 

A few posts ago we saw what J. Laurence Laughlin thought about how economics should be taught. This post follows with a chapter contributed by Richard T. Ely that was written somewhat earlier and essentially on the same topic. Laughlin quoted Ely in his book chapter. The mystery “proudest institution in the United States” mentioned by Ely in his first paragraph that used Fawcett’s Political Economy for Beginners could very well have been Harvard. The Harvard Catalogue from 1874-75 indicates that Professor Charles Franklin Dunbar indeed used that textbook.

_____________

On Methods of Teaching Political Economy.
By Richard T. Ely,
Johns Hopkins University.

[61]

IT is easy to compress into the compass of a single sentence all the information needed to qualify any man of fair native ability and liberal education to teach political economy as it was taught eight years ago in one of the proudest institutions in the United States. The information in question is this: Buy Mrs. Fawcett’s “Political Economy for Beginners” [5th edition]; see that your pupils do the same; then assign them once a week a chapter to be learned; finally, question them each week on the chapter assigned the week before, using the questions found at the end of the chapter, and not omitting the puzzles which follow the more formal questions; as it is a test of the academical learning and grasp of economic science of a senior to have a puzzling problem like this hurled at him: “Is the air in a diving-bell wealth; and, if so, why?”

Let no one suppose this description satirical or exaggerated. It is the literal truth; and the hour a week for a part of a year of such instruction was absolutely all the teaching of political economy done in any department of the rich and powerful college. It is scarcely necessary to describe the state in which the students’ minds were left. They learned by heart a few truisms, as, e.g., that it is a [62] good thing to be honest, diligent, and frugal; that products are divided between capitalists, laborers, and landlords; and that values being defined as certain relations of things to one another, there cannot be a general rise or a general fall in values; and they acquired an imperfect comprehension of certain great fundamental facts, like the Ricardian theory of rent and the Malthusian doctrine of population. This, with not a very high opinion of political economy, was the sum-total of results for the student, and prepared him for the degree of A.B. first, and afterward for that of A.M. In our national banks we have a wonderful and unique economic institution, but they were not once mentioned, nor was a single allusion made to the financial history of this great country. And yet this instruction was to fit the elite of the youth of the land for the duties of citizenship

This is a true picture of one way to teach political economy, and it is a method of instruction for which a high salary was paid. Is it a state of things entirely exceptional? It is to be feared not. A preface to Amasa Walker’s “Science of Wealth,” edited 1872, contains these words, which seem to have met with very general approbation: “Although desirable that the instructor should be familiar with the subject himself, it is by no means indispensable. With a well-arranged text-book in the hands of both teacher and pupil, with suitable effort on the part of the former and attention on the part of the latter, the study may be profitably pursued. We have known many instances where this has been done in colleges and other institutions highly to the satisfaction and advantage of all parties concerned.”

The writer holds that better things than this are possible, even in a high school; and it is certain that political economy ought to be taught in every school of advanced grade [63] in the land.The difficulties are by no means insuperable. It is, in fact, easy to interest young people in economic discussions which keep close to the concrete, and ascend only gradually from particulars to generals.

1In Belgium it has been proposed to introduce political economy even into the elementary schools; and in view of the immense importance of the economic problems which will one day be pressing for solution in the United States, it is to be hoped that such a proposal at some future time will not be Utopian in our country.

The writer has indeed found it possible to entertain a school-room full of boys, varying in age from five to sixteen, with a discourse on two definitions of capital, — one taken from a celebrated writer, and the other from an obscure pamphlet on socialism by a radical reformer. As the school was in the country, illustrations were taken from farm life, such as corn-planting and harvesting, and from the out-door sports of the boys, such as trapping for rabbits. Some common familiar fact was kept constantly in the foreground, and thus the attention of the youngest lad was held.

Perhaps money is as good a subject as any for an opening lecture to bright boys and girls, and the writer would recommend a course of procedure somewhat like this: Take into the class-room the different kinds of money in use in the United States, both paper and coin, and ask questions about them, and talk about them. Show the class a greenback and a national bank-note, and ask them to tell you the difference. After they have all failed, as they probably will, ask some one to read what is engraved on the notes, after which the difference may be further elucidated. Silver and gold certificates may be discussed, and the distinction made clear between the bullion and face value of the five-cent piece, etc. Other talks, interesting and familiar, about alloys, the extent to which pennies and small coins are legal tender, the character [64] of the trade-dollar, etc., etc., will occupy several hours, and delight the class.The origin of money is a topic which will instruct and entertain the scholars for an hour. Various kinds of money should be mentioned; and it is possible you may find examples of curious kinds of money in some hill town not very remote, e.g., eggs, and you are very likely to find several kinds of money in use among the boys and girls, e.g., pins. In one boarding-school, near Baltimore, bits of butter, served the boys at meals in quantities less than they desired, passed as money, and quite an extensive use of bills and orders, “negotiable instruments,” was established.After this, a work like Jevons’s “Money and the Mechanism of Exchange,”or at least parts of it, will interest the pupils.

2The teacher will find the necessary information in the Revised Statutes of the United States (Government Printing Office, Washington, D.C.), which should be in the school library. It is contained in more convenient shape in the “Laws of the United States relating to Loans and the Currency”  and “Instructions and Regulations in Relation to the Transaction of Business at the Mints and Assay Offices of the United States.” These pamphlets, like most other government publications, can be obtained gratis of the congressman of the district in which the school is situated. They are kept on sale by various book-dealers in Washington.
3Cf. Mr. John Johnston’s instructive paper, ”Rudimentary Society among Boys,” published in the “Johns Hopkins University Studies in Historical and Political Sciences,” second series, No. XI, edited by Dr. Herbert B. Adams.
4This is published in paper covers in the Humboldt Library for forty cents, as well as in the ” International Scientific Series ” of D. Appleton & Co.

Banking, very properly comes under the head of political economy, performing as it does most important functions in industrial life; and the most prominent banking institutions in this country are the national banks, which have also played an important role in our history. There is likely to be one in every town where there is a high school, and it is well to continue the course of instruction with the village national [65] bank. Procure for this purpose “The National Bank Act,”5 and study it with your class in connection with reports and advertisements and circulars of the village bank. You will find a certain minimum number of directors prescribed by law: ascertain the number in the bank in question, and their functions. Some members of the class will be acquainted with them, and all the class will know of them, and this will give a personal interest to the study. Then compare the amount of capital required with the actual amount, and have the class ascertain from the law the amount of bank-notes which the bank could receive from the comptroller of the currency, and the actual circulation! After the various features of the bank have been examined, it is desirable that some bright boy should write a history of the bank, to read before the class, and afterwards, perhaps, to publish in the village paper. Files of the paper, to which the editor will doubtless give access, will contain all the published reports of the bank, as well as the proceedings and the village talk about the bank at its foundation. If officers of the bank are properly approached, they will assist with hints and information. In this way the pupils will acquire a new interest in banks; and when they pass by the national bank, it will never again seem quite the same lifeless institution. From the history of one national bank it is easy to pass over to the history of national banks in this country, and to a description of the State banking systems, which preceded the national banking system.Then the student may be glad to read what General Walker says on banks, in his “Political Economy,” [66] and in his “Money, Trade, and Industry,”and a work like Bagehot’s “Lombard Street”  will not be without attractions.8

5A government publication; also published by the Homans Publishing Company, 251 Broadway. Care should be taken to secure the latest edition, as there have been various changes in the banking laws.
6For this purpose the teacher should consult the reports of the comptroller of the currency, especially for the years 1875 and 1876.
7Published by Henry Holt & Co., New York.
8Published by the Scribners, New York.

Taxes can be studied in the town or village. The pupils can learn from their fathers what the taxes are, how they are assessed and collected, and what part of the revenues is used for village purposes, what part for schools, what part for the county, and what part for the State. In any village it cannot be difficult to induce one of the assessors to explain before the class in political economy the principles upon which he does his work. All the pupils can then write essays about taxation in the said place, and perhaps one of them will be able to write a financial history of the town. In this way the pupils will be prepared for the perusal of a work like the “Report on Local Taxation,” prepared by Messrs. Wells, Dodge, and Cuyler.It may be learned from the reports of the Secretary of the Treasury10 how the expenses of the federal government are defrayed. In this way a complete view of taxation in the United States is obtained,11 and in many respects a small town or village offers better facilities for such a course than a large city, where manners are less simple, and where city officials for well- known reasons often show a manifest unwillingness to impart information. This course will teach pupils to observe economic phenomena, will impart to them an interest in financial questions, and will prepare them in later years to deal with large problems. As Carl Ritter prepared himself for his [67] great geographical work by the study of the geography of Frankfort,12 so bright pupils, beginning with the study of local finance, will learn how to deal with even the difficult problems of war finance when they arise.

9Published by Harper & Brothers, New York.
10Government publications.
11The United States Census Reports contain valuable information, and every high school should be provided with copies.
12This illustration is taken from Dr. Adams’s paper, v. p. 161 of first edition.

The two great impelling causes of economic study have ever been financial difficulties of government and social problems, or discontent with the condition of social classes, coupled with a desire to improve this unsatisfactory condition, and it is with these two kinds of topics that political economy chiefly deals. In a manner similar in principle to that described, the administration of public charity and its relation to private charity may be studied in the town and county. If poorhouses, insane asylums, hospitals, etc., are in the vicinity, and can be visited, so much the better. The manner of caring for the criminal classes may be studied locally. Reports of State boards of charities will enable the pupils to connect local with State charities.13

13Teachers and pupils will find much useful information in the large work of Dr. Wines, entitled “The State of Prisons and of Child-Saving Institutions in the Civilized World,” Cambridge (Mass.), 1880.

Then there is the ordinary laborer. Let the pupils describe his manner of living, his wages, etc. If the school is a mixed one, some young girl of sufficient tact will be found to visit the ordinary laborers in their homes, to talk with them, and obtain their ideas. In some towns a real laboring population can scarcely be said to exist; but factory towns afford favorable opportunities for studies of this character. Many a Massachusetts factory town furnishes an excellent field for such study, and the reports of the Massachusetts Bureau of Labor Statistics will be found helpful. [68] A book like “Work and Wages,” by Thorold Rogers,14will then be enjoyed by many of the class.15

14Published by G. P. Putnam’s Sons, New York.
15In his “French and German Socialism”   (Harper & Brothers), the writer has attempted to give a brief sketch of the more prominent Utopian theories in a manner adapted to school and college use. Albert Shaw has described admirably an American communistic society in his “Icaria: A Chapter in the History of Communism.” Published by G. P. Putnam’s Sons.

After part or all of this ground has been gone over, it will then be time to take up the more systematic study of political economy. The work described might be gone over in exercises once a week, extending through one year, and the second year a systematic course might follow; and this is not too much time for so all-important a study in a high school. There are few good text-books of political economy, but for the English-speaking student the writer would recommend Francis A. Walker’s “Political Economy,” or Laveleye’s “Elements of Political Economy,” with additions by Taussig.16 Here is an admirable high-school course sketched out. All the works referred to ought to be accessible to the teacher, and should be mastered before he begins to teach.17 This may seem like requiring a great deal; but preparation is as necessary in a teacher of political economy as in a teacher of mathematics; and it is as absurd to venture to teach political economy, without a knowledge of the subject, as to teach trigonometry without a knowledge of trigonometry. It is because this has been attempted that such contempt has been thrown on the study of political economy, and that the science is in such a sad condition.

16If there is sufficient time, Walker’s larger work is preferable; if less time can be devoted to the study, Laveleye’s is better. The teacher should have both. Laveleye’s “Political Economy” is published by the Putnams, New York.
17Let one who proposes to teach political economy master, first of all, F. A. Walker’s “Political Economy.”

[69]

For a more advanced course, a preliminary training in logic is advisable, as the discussion of deductive and inductive methods, of conceptions and definitions, etc., will otherwise hardly be intelligible.18 Besides this, the training one obtains in the study of logic is excellent preparation for much of the work required in political economy. It teaches students to analyze conceptions, to combine elements, and to reason closely. The writer has often felt that a want of this training in his pupils was an obstacle in his way.

18The two little works by Thomas Fowler, “Deductive Logic”  and “Inductive Logic,” published in the Clarendon Press Series, Oxford, are recommended.

The more profound one’s knowledge of history the better for teacher in high school or college. This economic life, this working, buying, selling, this getting a living, is only one part of the historical life of a people; and the more that is known about the whole, the better will each part be understood. For the advanced investigation, a knowledge of foreign languages, especially of German, is indispensable. Roscher,19 Wagner,20 Knies,21 Schmoller,22 Schönberg,23 and Leroy-Beaulieu24 should be studied.

19System der Volkswirthschaft. [5 ed. (1864) Volume I; 3 ed. 1861, Volume II]
20Lehrbuch der politischen Oekonomie. [3d ed. (1893) Volume 1.1; 3d ed. (1894) Volume 2.1-33d ed. (1883) Volume 4.1; 2d ed. (1890) Volume 4.2; (1889) Volume 4.3; (1901) Volume 4.4]
21Die politische Oekonomie vom geschichtlichen Standpunkte”, and his “Geld und Credit.”
22Ueber einige Grundfragen des Rechts und der Volkswirthschaft.
23Handbuch der politischen Oekonomie. [3ed. (1890)]
24Traité de la science des finances. [5ed. (1891/2). Volume I; Volume II]

Colleges and universities ought also to provide periodicals like the “Jahrbücher für Nationalökonomie und Statistik,” “Jahrbuch fur Gesetzgebung, Verwaltung und Volkswirthschaft,” the “Tübinger Zeitschrift für die Gesammte Staatswissenchaft,” the “Journal des Économistes,” the English “Economist,” “Bradstreets,” and the “Banker’s Magazine.”

[70]

The teacher of college students, who ought always himself to be an original worker, should be perfectly independent. It is doubtless owing largely to a lack of independence on the part of the teacher that political economy has not made more progress in this country. Men are too often employed to teach free trade or to teach protection, — and as usually taught, it is difficult to tell which of the two is more unscientific, — or to teach Henry C. Carey’s system, or teach monometallism or bimetallism, whereas the teacher should be encouraged in the pursuit of truth, regardless of where it strikes.

Independence is nowhere more necessary than in the study of economies. A new theory of the iota subscript does not move the mass of men profoundly, but a new theory of taxation is bound to call forth from some one the cry “heresy.” In fact, as there are always large and powerful classes interested in the present condition of things, every change proposed, no matter what it is, is certain to meet with a storm of opposition. Ignorance, prejudice, and selfishness have always combined in their attacks on every political economist who has contributed to the advance of his science.

The political economist requires likewise, if he is to do his best work, a salary which shall enable him to mingle with the world, to become, to a certain extent, a man of the world, in order that he may the better understand the world with which he deals. He ought further to be able to travel and conduct investigations in industrial regions at home and abroad. So important is travel, indeed, that one great French school, that of Le Play, has made travel the chief method of investigation.25

25The following note on Le Play may be interesting in this connection: In 1820 Le Play began a series of journeys, which continued for over fifty years, and extended themselves into all parts of Europe, and even into the regions of Asiatic semi-civilization. These travels have borne plenteous fruits, of which the most prominent are the following: the publication of numerous works, the establishment of a method of study in social science, and the foundation of a school. Le Play’s method, which he calls ” La Méthode social,” centres in what maybe called the doctrine of travel. The quintessence of his theory is, that it is as essential for the economist to observe economic phenomena as for the mineralogist to observe minerals. The economist, however, not being able to gather together and arrange in a laboratory manufactories, laborers’ quarters in cities, agricultural villages, extensive mines, and the commercial phenomena of a great port, must travel to them, observe the manifestations of social and individual life which are there to be seen, and classify the results thus obtained in such manner that instructive and useful generalization may be drawn therefrom. The most important among the works of Le Play bears the title “les Ouvriers Européens,”[2d ed. (1879), Volume I; (1877), Volume II;  (1877), Volume III; (1877), Volume IV; (1878), Volume V; (1878), Volume VI] in which the author describes from actual observation the minutest details of separate laborers’ households in every part of Europe. The third service to science, which these journeys enabled Le Play to render, consists in the foundation of a school, called “L’École de la Paix Sociale,” which manifests its activity in various ways, of which the most striking is the publication of their semi-monthly organ, “La Réforme Sociale.”

[71]

The thoroughly equipped teacher of political economy ought, in addition to his qualifications in history and philosophy, including chiefly logic, to be a careful student of the principles of law. Evidence and practice, and the formal details of law, are not of great importance to him; but real- estate law, the law of contract and of banking, etc., are. The political economist lays the basis for legal study, he tells the reason why such and such legal institutions, e.g., private property in land, exist, and should exist; but he can manifestly lay a much better basis if he knows the superstructure which is to be erected thereon.26

26In many German universities every law-student is obliged to take a course in political economy. The study of political economy is likewise obligatory in French law-schools.

A legal friend, at the same time a political economist, recommends the following course in law for advanced students of political economy: “Blackstone’s Commentaries,”27  [72] which should be thoroughly digested; Parson on “Contracts“; Washburn on “Real Estate [4ed (1876, Volume I; 3ed (1868) Volume III],” Benjamin on “Sales of Personal Property,” and Bispham on “Equity.” I would add, at least, Morse on “Banks and Banking,” Cooley on “Taxation,” and Morawetz on “Corporations.”

27Chase’s edition is one volume.

Only one point more remains to be mentioned. The best original economic work is, for the most part, expensive. Laws, government reports, as blue-books and financial statements, and all sorts of original documents are required. Much economic work can be done only in connection with a learned institution or a government office, or by a very wealthy person. Any university which would have good work on the part of its teachers of political economy must not begrudge the expense of material as necessary to the economist as chemicals to the chemist. Of course, it cannot be expected that an American college will provide the political economist with a special library of seventy thousand volumes, like the Library of the Prussian Statistical Bureau; but it is doubtful whether a fair working university library of political economy can be produced for less than five thousand dollars.28

28It will readily be understood that a university library, designed to aid original research, is something quite different from a high-school library. One hundred dollars would purchase economic books which would answer fairly well the needs of a high school.

 

Source: Richard T. Ely, “On Methods of Teaching Political Economy,” in Vol. I. Methods of Teaching History (pp. 61-72) in the series Pedagogical Library, edited by G. Stanley Hall. Boston: D.C. Heath & Company, second edition, 1885.

Image Source: Universities and their sons; history, influence and characteristics of American universities, with biographical sketches and  of alumni and recipients of honorary degrees, Vol. IV (1900), p. 505.

Categories
Bibliography Exam Questions Harvard Suggested Reading Syllabus

Harvard. Money And Banking. Readings and Exams. Williams and Hansen, 1947-48

 

The graduate course for Keynesian economics at Harvard in the 1940s was Principles of Money and Banking taught by Alvin H. Hansen and John H. Williams. Course materials for 1946-47 were transcribed and posted earlier [Fall term 1946; Spring term 1947; General course bibliography]. Almost all of the exam questions for 1947-48 are new. The Spring term of 1948 taught by John  Williams turns out to be unchanged from the previous year. The Fall term of 1947 taught by Alvin Hansen does show some minor rearrangements, and significant additions (e.g. Tobin on liquidity preference).

____________________________

Course Enrollment
1947-48

[Economics] 141a. Professors Williams and Hansen. — Principles of Money and Banking (F).

Total 81: 47 Graduates, 1 Senior, 20 Public Administration, 4 Business, 9 Radcliffe.

 

[Economics] 141b. Professors Williams and Hansen. — Principles of Money and Banking (Sp).

Total 70: 41 Graduates, 2 Juniors, 20 Public Administration, 2 Business, 5 Radcliffe.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1947-48, p. 91.

 

____________________________

ECONOMICS 141
PRINCIPLES OF MONEY AND BANKING

 

Economics 141a — First Semester, 1947-8 (Professor Hansen)

  1. Central Banking: Current Problems and Policies
  2. Theory of Money, Liquidity-Preference, Interest and Prices

 

Economics 141b — Second Semester, 1947-8 (Professor Williams)

  1. International Monetary Equilibrium
  2. Monetary and Fiscal Policy

 

READING LIST FOR ECONOMICS 141a
Principles of Money and Banking
1947-1948

 

Note: Pre-requisite reading (for those who are deficient in undergraduate preparation in Money and Banking:

  1. Banking Studies, Board of Governors, Federal Reserve System, (1941).
  2. Southard, F. A., Foreign Exchange Practice and Policy, (McGraw-Hill, 1940).
  3. Any one standard textbook in Money and Banking, such as: Thomas, Our Modern Banking and Monetary System, (Prentice-Hall, 1942); or Reed, Money, Currency and Banking, (McGraw-Hill, 1942).

 

  1. Central Banking: Current Problems and Policies.
    1. Minimum Reading List:
      1. Books and Pamphlets:
        1. International Currency Experience (League of Nations, 1944), Chapters I-IV, pp. 7-112.
        2. World Economic Survey, 1942-44 (League of Nations, 1945), Chapter IV “Finance and Banking” (pp. 173-213).
        3. Ellis, H. S., (in Harris: Economic Reconstruction, McGraw-Hill, 1945), Chapter 13, “Central and Commercial Banking in Postwar Finance” (pp. 237-252).
        4. Hansen, Alvin H., America’s Role in the World Economy (Norton, 1945), Chapter XVII, “Gold, Exports and Liquidity” (pp. 144-157).
        5. Harris, S. E., Inflation and the American Economy (McGraw-Hill, 1945), Chapter XXIV, “Money and Savings” (pp. 372-383).
        6. Hawtrey, R. G., The Art of Central Banking (Longmans, 1933) pp. 116-207.
        7. Keynes, J. M., Treatise on Money, Volume II, Chapters 25, 32, 33, (pp. 49-78; 225-278).
        8. Robertson, D. H., Essays in Monetary Theory (King, 1940), Chapter II, “Theories of Banking Policy” (pp. 39-59); Chapter XII, “British Monetary Policy” (pp. 154-167).
        9. Williams, John H., Postwar Monetary Plans (Knopf, second edition, 1945), Chapter 6, “The Banking Act of 1935” (pp. 112-129); Chapter 8, “The Crisis of the Gold Standard” (pp. 154-172); Chapter 9, “Monetary Stability and the Gold Standard” (pp. 172-190).
        10. Financing American Prosperity (Twentieth Century Fund, 1945):
          1. Ellis, H. S., “Monetary Controls and the Business of Banking” (pp. 140-153).
          2. Williams, John H., “Money and Banking” (pp. 381-5).
        11. Postwar Economic Studies, No. 3 (Board of Governors, Federal Reserve System, 1945): Wallich, H. C., “Public Debt and Income Flow” (pp. 84-100).
        12. Hansen, Alvin H., Economic Policy and Full Employment, Chapters 20 and 22 (pp. 233-247; 261-288).
      2. Reports and Articles:
        1. Treasury Bulletin, April, 1946, “Federal War-time Financing and Growth of Liquid Assets”, pp. A11-20.
        2. Federal Reserve Bulletins:
          1. July, 1947, “Debt Retirement” (pp. 775-87); “Consumer Incomes and Liquid Assets” (pp. 788-802); “International Monetary and Financial Problems” (pp. 836-850).
          2. April, 1947, “Economic Survey of the United Kingdom” (pp. 367-391); “Annual Report of the Bank of Canada” (pp. 392-97); “Monetization of Public Debt by Banks” (pp. 402-04).
          3. “Estimated Liquid Assets of Individuals and Business”, November, 1946, pp. 1236-37; June, 1947, pp. 689-91.
        3. Annual Reports of Board of Governors, Federal Reserve System:
          1. Thirty-second Report (for the year 1945) pp. 1-15.
          2. Thirty-third Report (for the year 1946) pp. 1-49.
        4. Bopp, K. R., “Central Banking at the Crossroads”, Supplement, American Economic Review, March 1944 (pp. 260-77).
        5. Samuelson, Paul, “The Effect of Interest Rate Increases on the Banking System”, American Economic Review, March 1945.
        6. Seligman, H. L., “The Problem of Excessive Commercial Bank Earnings”, Quarterly Journal of Economics, May 1946.
        7. Whittlesey, C. R., “Federal Reserve Policy in Transition”, Quarterly Journal of Economics, May 1946.
    2. Supplementary Reading List:
      1. Books
        1. Arndt, H. W., The Economic Lessons of the Nineteen Thirties, (Oxford, 1944).
        2. Coulborn, W, A. L., An Introduction to Money, (Longmans, 1938) Chapters 5, 13-14 (pp. 48-64, 209-241).
        3. Fisher, Irving, 100 Per Cent Money, (Adelphi, 1935; Third Edition City Printing Co., New Haven, 1945).
        4. Johnson, G. G., The Treasury and Monetary Policy, (Harvard 1939), Chapter I-V (pp. 3-160)
        5. Hawtrey, R. G., The Gold Standard in Theory and Practice (Longmans, Fourth Edition, 1939).
        6. Hawtrey, R. G., A Century of Bank Rate. (Longmans, 1938).
        7. Lewinski, J., Money, Credit and Prices, (King, 1929) Chapters IV-V (pp. 99-144).
        8. McCracken, Paul W., The Future of Northwest Bank Deposits, Federal Reserve Bank, Minneapolis, 1946.
        9. Mints, L. W., A History of Banking Theory (Chicago, 1945), Chapters VI and X (pp. 74-100; 178-197).
        10. Morgan, E. V., The Theory and Practice of Central Banking, (Macmillan, 1943).
        11. Niebyl, Karl H., Studies in the Classical Theories of Money, (Columbia, 1946).
        12. Sayers, R. S., Modern Banking, (Oxford, 1938), Chapters 4-5 (pp. 70-145).
        13. Viner, J. Studies in the Theory of International Trade, (Harper, 1937), Chapter V, “English Currency Controversies” (pp. 218-289).
        14. Wernette, P., Financing Full Employment, (Harvard, 1945), Chapter 3 (pp. 33-61).
        15. Macmillan Report, Royal Commission in Industry and Commerce, Cmd. 3897 (1931) pp. 2-45; 106-160.
      2. Articles
        1. Abbott, C. C. (Review articles on Financing Problems and Bank Liquidity), Review of Economic Statistics, February 1946 (pp. 48-51).
        2. Abbott, C. C., “Management of the Federal Debt”, Harvard Business Review, Autumn 1945.
        3. Goldenweiser, E. A., “Commercial Banking After the War”, Federal Reserve Bulletin, September 1944.
        4. Seltzer, Lawrence, “Is a Rise in Interest Rates Desirable or Inevitable?”, American Economic Review, December 1945.
        5. Treasury Bulletin, April 1946, “Federal War-time Financing and the Growth of Liquid Assets”.
        6. Keynes, J. M., “The Objective of International Price Stability”, Economic Journal, June-September 1943.
    3. General Reference Reading (see below).

 

  1. Theory of Money, Liquidity Preference, Interest and Prices.
    1. Minimum Reading List:
      1. Books:
        1. Fellner, William, Monetary Policies and Full Employment, Chapter 6, (pp. 174-209).
        2. Hansen, Alvin H.:
          1. Economic Policy and Full Employment, Chapters 12, 13, 18, 19 and 21, (pp. 145-160; 202-232; 248-260).
          2. Fiscal Policy and Business Cycles, (Norton, 1941), Chapters 1-5; 11-15; (pp. 13-105; 225-338).
          3. Full Recovery or Stagnation, (Norton, 1938), Chapter 3 (pp. 59-87); Appendix, pp. 331-343.
        3. Hayek, F. A., Prices and Production, (Routledge, 1935), Chapters 1 and 4 (pp. 1-31; 105-128).
        4. Keynes, J. M., Monetary Reform, (Harcourt, 1924), pp. 81-95; 152-191.
        5. Keynes, J. M., A Treatise on Money, (Harcourt, 1930), Chapters 9-13 and 30 (Volume I, pp. 123-220; Volume II, pp. 148-208).
        6. Keynes, J. M., General Theory of Employment, Interest and Money, (Harcourt, 1936), pp. 3-45; 61-65; 74-221; 245-271; 292-332; 372-384.
        7. Klein, Lawrence, The Keynesian Revolution, Chapters 1-3, (pp. 1-90).
        8. Marget, Arthur W., The Theory of Prices, Volume I, (Prentice-Hall, 1938), Chapters 12 and 15 (pp. 302-343, 414-459, and large type sections).
        9. Marget, Arthur W., The Theory of Prices, Volume II, (Prentice-Hall, 1942), Chapter 3 (pp. 89-133, large type sections).
        10. Marshall, A., Money, Credit and Commerce, (Book I, Chapter XX, pp. 38-50.
        11. Robertson, D. H., Essays in Monetary Theory, (King, 1940), Chapters 1, 6, 11 (pp. 1-38; 92-7; 113-153).
        12. Schumpeter, J. A., Business Cycles, (McGraw-Hill, 1939), Volume II, Chapter 8, (pp. 449-482).
        13. Wicksell, K., Interest and Prices, (Macmillan, 1936), Introduction by Bertil Ohlin; also author’s Preface; Chapters 5, 7-8, 11 (pp. 38-50; 81-121; 165-177).
        14. Wicksell, K., Money: Lectures on Political Economy, Volume II, (Macmillan, 1935), Chapter IV (pp. 127-228).
        15. Wright, David McC., The Creation of Purchasing Power, (Harvard, 1939), Chapters 4-6 (pp. 60-121).
        16. Macmillan Report, Royal Commission on Finance and Industry, Cmd. 3897 (1931), Part I, Chapter 11 (pp. 92-105).
      2. Articles:
        1. Clark, Colin, “Public Finances and Changes in the Value of Money”, Economic Journal, December 1945.
        2. Hicks, J. R., “Mr. Keynes and the Classics: A Suggested Interpretation”, Econometrica, April 1937.
        3. Hawtrey, R. G. and Hicks, J. R., “Interest and Bank Rate”, The Manchester School of Economic and Social Studies, October 1939.
        4. Harrod, Hansen, Haberler, and Schumpeter, “Keynes’ Contribution to Economics”, Review of Economic Statistics, November, 1946.
        5. Keynes, J. M., “Relative Movement of Real Wages and Output”, Economic Journal, March 1939.
        6. Lange, O., “The Rate of Interest and the Optimum Propensity to Consume”, Economica, February 1938.
        7. Lerner, A. P., “Interest Theory: Supply and Demand for Loans or Supply and Demand for Cash”, Review of Economic Statistics, May 1944.
        8. Mints, Hansen, Ellis, Lerner, Kalecki, “A Symposium on Fiscal and Monetary Policy”, Review of Economic Statistics, May 1946.
        9. Modigliani, F., “Liquidity Preferences and the Theory of Interest and Money”, Econometrica, January 1944.
        10. Simons, H. C., “Debt Policy and Banking Policy”, Review of Economic Statistics, May 1946.
        11. Tobin, James, “Liquidity Preference and Monetary Policy”, The Review of Economic Statistics, May 1947.
    2. Supplementary Reading List:
      1. Books:
        1. Adarkar, B. P., The Theory of Monetary Policy, (King, 1935), Chapter 1-8; 13-15 (pp. 3-52; 101-122).
        2. Chandler, L. V., An Introduction to Monetary Theory (Harper, 1940), pp. 1-205.
        3. Coulborn, W. A. L., An Introduction to Money, (Longmans, 1938), Chapters 6-8; 15-16 (pp. 65-116; 242-264).
        4. Haberler, G., Prosperity and Depression (1939) Chapters 8, 13 (pp. 168-254; 455-507).
        5. Hicks, J. R., Value and Capital, Chapters 12-13.
        6. Lindahl, Erik, Studies in the Theory of Money and Capital, (Allen and Unwin, 1939), Part II, Chapters 4-6, (pp. 199-268).
        7. Myrdal, Gunnar, Monetary Equilibrium, (Hodge, 1939), Chapters 1-3 (pp. 1-48).
        8. Polanyi, M. Full Employment and Free Trade, (Cambridge Univ. Press, 1945), Chapters 1, 4, (pp. 1-66; 87-103).
        9. Robertson, D. H., Money (Harcourt, 1929) Chapters 2-4; 7-8.
        10. Sayers, R. S., Modern Banking. (Oxford, 1938), Chapter 6 (pp. 146-164).
        11. Thomas, Brindley, Monetary Policy and Crises, (Routledge, 1936), Chapters 3-4 (pp. 62-156).
      2. Articles:
        1. Lange, O., “Economic Controls After the War,” Political Science Quarterly, March 1945.
        2. Lerner, A. P., “Alternative Formulations of the Theory of Interest”, Economic Journal, June 1938.
        3. Lerner, A. P., “Ex Ante Analysis and Wage Theory”, Economica, November 1939.
        4. Lerner, A. P., “Some Swedish Stepping Stones in Economic Theory”, Canadian Journal of Economics and Political Science, November 1940.
        5. Marschak, J., “Wicksell’s Two Interest Rates”, Social Research, November 1941.
        6. Simons, H. C., “On Debt Policy”, Journal of Political Economy, June 1945.
        7. Warburton, Clark, “The Volume of Money and the Price Level Between the World Wars”, Journal of Political Economy, June 1945.
        8. a. Warburton, Clark, “The Monetary Theory of Deficit Financing”, Review of Economic Statistics, May 1945.
          b. Arndt, H. W., “The Monetary Theory of Deficit Financing; A Comment”, Review of Economic Statistics, May 1946.
        9. Bean and others, “Five Views on the Consumption Function”, Review of Economic Statistics, November, 1946.
    3. General Reference Reading (see below).

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1) Box 4, Folder “Economics, 1947-48 (2 of 2)”.

____________________________

Mid-year Exam

1947-48
HARVARD UNIVERSITY
ECONOMICS 141a

Part A. Write on one question only.

  1. Write an essay on Federal war-time financing including a discussion of:
    1. The role played by (a) the Federal Reserve Banks, (b) the commercial banks.
    2. The impact on (a) the money supply, (b) the liquid assets, (c) member bank reserves, (d) currency in circulation, (e) the rate of interest.
  2. Discuss major problems currently confronting the Federal Reserve System including an appraisal of various proposals to deal with these problems.

Part B. Write on any three questions.

  1. Write an essay (historical and analytical) on the relation of the money supply to the national income. In this connection discuss: (a) the Quantity Theory (b) the Marshallian “k” and (c) the Keynesian liquidity preference functions.
  2. Using the diagrams and analysis of Hicks and Keynes, discuss the role of (a) the schedule of the marginal efficiency of capital (b) the consumption function (c) the liquidity preference function and (d) the quantity of money, as determinants of the rate of interest and of income.
  3. State precisely the conditions (in particular including the relevant functions and their interest-elasticities) under which Monetary Policy alone, or Fiscal Policy alone (without either being supplemented by the other) may be (a) fully effective, (b) wholly ineffective, in raising income.
  4. Write an essay on the “theory of prices” including a discussion of money, income, wage and cost functions; in particular make use of the Keynesian analysis contained in the General Theory, Book V. (Money, Wages, and Prices.)
  5. Write an essay on any one of the following:
    1. International Currency Experience (League of Nations).
    2. Hawtrey, The Art of Central Banking.
    3. Keynes: Treatise on Money.
    4. Robertson: Essays on Monetary Theory.
    5. Williams, Postwar Monetary Plans.
    6. Klein, The Keynesian Revolution.
    7. Wicksell: Interest and Prices.

Note: You will be expected to write on 4 questions (one from part A and three from Part B.

Final. January, 1948.

 

Source: Harvard University Archives. Harvard University Final Examinations 1853-2001. Box 15. Papers Printed for Final Examinations: History, History of Religions…, Economics, … , Military Science, Naval Science, January, 1948.

____________________________

 SECOND SEMESTER
ECONOMICS 141b: PRINCIPLES OF MONEY AND BANKING

  1. International Monetary Equilibrium:
    1. Cassel, G., The Downfall of the Gold Standard (1936).
    2. Copland, Douglas, Australia in the World Crisis (1934).
    3. Ellis, H. S., Exchange Control in Central Europe (1941).
    4. Graham and Whittlesey, Golden Avalanche (1939).
    5. Hall, M. F., The Exchange Equalization Account (1935).
    6. Hahn, George, International Monetary Cooperation (1945).
    7. Hansen, Alvin, H., America’s Role in the World Economy (1945).
    8. Hardy, C. O., Is There Enough Gold (1936).
    9. Harris, S. E., Exchange Depreciation (1936).
    10. Harris, S.E., Economic Problems of Latin America (1944).
    11. Iverson, Carl, International Capital Movements (1936).
    12. Kindelberger, C. P., International Short-term Capital Movements (1937).
    13. League of Nations, Final Report on Gold (1932).
    14. League of Nations, Economic Fluctuations in the United States and the United Kingdom, 1918-22 (1942).
    15. Nurkse, R., International Currency Experience (1944).
    16. Warren and Pearson, (a) Gold and Prices (1935);
      (b) World Prices and the Building Industry (1937).
    17. Williams, John H., Postwar Monetary Plans (Second Edition, 1945)
  2. Monetary and Fiscal Policy:
    1. Beveridge, Sir William, Full Employment in a Free Society (1945).
    2. British White Paper on “Employment Policy” (1944).
    3. de Chazeau, Hart, and Others, Jobs and Markets (1946).
    4. Economics of Full Employment. Six Oxford Economists (1945).
    5. Fellner, W., Monetary Policies and Full Employment (1946).
    6. Financing American Prosperity, Twentieth Century Fund (1945).
    7. Groves, H. M., (a) Production, Jobs and Taxes (1944).
      (b) Postwar Taxation and Economic Progress (1946).
    8. Hansen, Alvin, H., Economic Policy and Full Employment (1946).
    9. Harris, S. E., Postwar Economic Problems (1943).
    10. Harris, S. E., Economic Reconstruction (1945).
    11. Hayes, H. Gordon, Spending, Saving and Employment (1945).
    12. League of Nations: Anti-Depression Policy (1945).
    13. Langum, John K., Postwar Banking Problems (1946).
    14. Postwar Economic Studies No. 3, Public Finance and Full Employment (1945).
    15. Postwar Economic Studies No. 8, Federal Reserve Policy (1946).
    16. Ruml and Sonne, Fiscal and Monetary Policy (1944).
    17. Terborgh, George, The Bogey of Economic Maturity (1945).
    18. Williams, John H. Postwar Monetary Plans (Second Edition, 1945), Chapters 4, 5.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1) Box 4, Folder “Economics, 1947-48 (2 of 2)”.

____________________________

Year-end Exam

1947-48
HARVARD UNIVERSITY
ECONOMICS 141b
PRINCIPLES OF MONEY AND BANKING

(Three hours)

Discuss one question in each part.

I

  1. Your own appraisal of Keynes’ “General Theory.”
  2. The role of money in Keynes’ “General Theory”.

II

  1. Postwar Federal reserve policy.
  2. The secondary (government security) reserve proposal.

III

  1. International monetary and trade adjustment in the postwar world.
  2. Harrod’s “Are These Hardships Necessary?”
  3. The franc devaluation.

 

Final. May, 1948.

Source: Harvard University Archives. Harvard University Final Examinations 1853-2001. Box 14. Papers Printed for Final Examinations: History, History of Religions…, Economics, … , Military Science, Naval Science, May, 1947.

____________________________

 ECONOMICS 141
PRINCIPLES OF MONEY AND BANKING
GENERAL REFERENCE READING
[13 pages!]

Has been transcribed and posted with the material for 1946-47.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1) Box 4, Folder “Economics, 1946-47 (2 of 2)”.

Image Source: Alvin H. Hansen and John H. Williams in Harvard Class Album 1942.

 

 

 

 

Categories
Bibliography Chicago Columbia Yale

Chicago. French/German/Italian Public Finance Bibliography. Bloch, ca. 1944

 

The backstory to the following list of French, German, and Italian works on public finance that was given to students at the University of Chicago sometime in the early to mid-1940s is illustrative of the forensic effort to prepare such posts. 

Henry Simon Bloch (1915-1988)  was born in Kehl (Germany) and emigrated to the U.S. in 1937 after having received his doctorate from the University of Nancy for a dissertation on Carl Menger.  I ran across two bibliographies he had put together in the files of Robert M. Haig at Columbia University. Both cover letters were written by Bloch on University of Chicago economics department stationary. The bibliography transcribed for this post came without a date, but the course number and senior faculty member,  Simon Leland, were easy to confirm. Still, Bloch only appears once or twice in the departmental list of faculty (at the rank of instructor), but never actually listed as an instructor for Economics 360 “Government Finance”.    

Bloch left Chicago in 1945 about the same time that Oskar Lange did. Because Bloch wrote in the cover letter to the bibliography below that it hardly seemed as though four years had passed since he had visited New York and his other bibliography had been mailed in January 1940, it seems reasonable to assume that the today’s list was sent in 1944.

Last speculation: in the New York Times obituary linked above it mentions that Bloch was honorary associate fellow of Berkeley College of Yale University. Robert Triffin  was master of that residential college at Yale from 1969 until 1977. This likely connection is perhaps related to Bloch’s honorary doctorate from the Universite Libre de Bruxelles?

__________________

 Partial timeline
of Henry Simon Bloch

1915. Born April 6 in Kehl, Germany.
1937.  Dr. en Droit (Econ) at the University of Nancy with the dissertation La théorie des besoins de Carl Menger.
1937. Emigration to the United States.

University of Chicago

1938. Research assistant.
1941-42. Lecturer, Institute for Military Studies.
1943. Instructor economics, Institute for Military Studies.
1943-45. Research supervisor, Civil Affairs Training School (CATS) for Army and Navy Officers.

1945. Consultant, Foreign Economics Administration.
1945-46. Economist, Treasury Department.
1946. Member Treasury delegate for tax treaty negotiations, Treasury Department, France, United Kingdom, Benelux.
1947-49. Section chief, United Nations.

[gap to be filled]

1955. Visiting professor economics Yale University.
1955-62. Director fiscal and financial branch, United Nations.
1958-1959. Acting director, Bureau Economics Affairs.
1959-1962. Director, Bureau Technology Assistance.
1961-1962. Deputy commissioner for technical assistance, Bureau Technology Assistance.
1962-1966. President, Zinder International Ltd.
1967-1970. Vice-president, director, Engineer of Mines Warburg & Company, Inc.
1970-1975. Senior vice president, Engineer of Mines Warburg, Pincus & Company, Inc.
1976-1981. Executive vice president, Engineer of Mines Warburg, Pincus & Company, Inc.
1982-1988. Managing director, Engineer of Mines Warburg, Pincus & Company, Inc.
1988. Died in Manhattan, February 28.

Columbia University

Lecturer, 1955-1963.
Adjunct Professor law and international relations, 1963-1985.
Professor emeritus, 1985-1988.
Member international advisory board School International and Public Affairs, 1986-1988.

Source:   From the Henry Simon Bloch page at the Prabook website of biographies of professionals.

__________________

Budget and Appointment Recommendations 1944-45
February 21, 1944
Economics Department
Item 16

It is recommended that the appointment of Henry S. Bloch as instructor [10/1/1943-9/30/44, $3,600] be renewed [10/1/44 to 9/30/45, $3,600]. Bloch at present is devoting his time exclusively to the CATS program, where his salary is charged. Should that training program be liquidated, Bloch’s services can be transferred immediately to Departmental teaching, research, and assistance in advising students. During the past year such needs have arisen, but because of the demands of the miitary program Bloch has not been able to assist the Department in its civilian program. Attention is called to the fact that Bloch’s salary is on a four-quarter basis.

Source:  University of Chicago Archives. Records of the Hutchins Administration, Office of the President, Box 284, Folder “Economics , 1943-47”.

___________________

Course Description 1944-45

[Economics] 360. Government Finance. A survey course covering the main topics dealt with in standard treatises, but emphasizing analysis of the economic effects of various fiscal practices. Prereq: Two years’ work in the Division of the Social Sciences, or equiv. But: MWF 8; Leland.

Source:  Annual Register of the University of Chicago. Announcements: The College and the Divisions, Sessions of 1944-45. Volume XLIV, No. 8 (May 15, 1944), p. 279.

___________________

The University of Chicago
Department of Economics
Oct 1

Dear Professor Haig,

I thought this might be of interest to you. It is just a list for our students.

It seems as if I had seen you only yesterday and when I was out at Riverdale it seemed as if there had not been more than 4 years interval. It was so nice.

I assume that you met Oscar Lange in the meanwhile.

Regards,

Henri.

___________________

Economics 360
SELECTED LIST OF FRENCH, GERMAN AND ITALIAN WORKS ON PUBLIC FINANCE

by
S. E. Leland and H. S. Bloch

Authors of the French language group

Allix, E. Traité élémentaire de science des finances et de législation financière française, 4th ed., 1921. Paris, 1931.

Allix, E., and Lecerclé, M. L’impôt sur le revenu. Paris, 1927.

Colson, Clément. Les finances publiques et le budget de la France. Cours d’économie politique, vol. v (2d rev. ed.). Paris, 1931.

De Greeff, Guillaume. L’économie publique et la science des finances. Bruxelles, 1907.

Denis, M. H. L’Impôt sur le revenu. Brussels, 1881.

Garnier, Joseph. Traité de Finance, 3d ed. Paris, 1872.

Jèze, Gaston. Cours élémentaire de science des finances et de législation financière française. Paris, 1912.

__________. Cours de science des finances (Théorie de l’impôt). 1936/37.

__________. Cours de finances publiques. Théories générales sur les phénomènes financiers, les dépenses publiques, le crédit public, les taxes, l’impôt. Paris, 1931.

__________. Théorie générale du budget. Paris, 1922.

__________. Cours élémentaire de science des finances et de législation financière française. Paris, 1932.

__________. Cours de science de finances et de législation financière française. Technique du Crédit Public. Paris, 1923.

__________. «Le rôle du ministre des finances dans une démocratie, » Revue de Science et de Législation Financières, Vol. XXVII (1929), pp. 7-24.

__________. Le remboursement des emprunts publics d’état. Paris, 1927.

Jèze-Boucard, M. Éléments de la science des finances et de la législation financière française, 2 vols. 1902.

Leroy-Beaulieu, Paul. Traité de la science des finances. 2 vols. 1899.

Marion, Marcel. Histoire financière de la France, depuis 1715, 6 vols. Paris, 1914/1931.

Marquis de Mirabeau. Théorie de l’impôt. 1760.

Say, Jean Baptiste. Cours complet d’économie politique pratique. 1828-9.

Say, Léon. Les finances. Paris, 1892.

__________. Dictionnaire des finances, 2 vols. Paris : Nancy, 1891/1894.

__________. Les Solutions démocratiques de l’impôt. 1886.

Stourm, R. Cours des finances. 1906.

__________. Le budget. Tr. in English—The Budget. 1917.

Trotabas, L. Précis de science et législation financières. Paris, 1936.

Vauban. Dixme royale. 1707.

Walras, L. Théorie critique de l’impôt. Paris, 1861.

 

Authors of the German language group

Büsch, Johann Georg. Abhandlung vom dem Geldumlauf in anhaltender Rücksicht auf die Staatswirtschaft und Handlung. Hamburg, 1780. [2nd edition, 1800]

Cohn, Gustav. Finanzwissenschaft, 1889. The Science of Finance (tr. by T. B. Veblen). Chicago, 1895.

__________. System der Finanzwissenschaft. 1889.

Colm, G. Volkswirtschaftliche Theorie der Staatsausgaben. Tuebingen, 1927.

Eheberg, Karl. Finanzwissenschaft, 18th ed. Berlin, 1930.

Földes, B. Finanzwissenschaft. 1920.

Gerloff, W. Steuerwirtschaft und Sozialismus. Leipzig, 1922.

Gerloff, W., and Meisel, F. Handbuch der Finanzwissenschaft. Tübingen, 1926.

Goldscheid, Rudolf. Handbuch der Finanzwissenschaft. Tübingen, 1926.

Hock, Karl V. Öffentliche Abgaben und Schulden. 1862.

Jecht, Horst. Wesen und Formen der Finanzwissenschaft. Jena, 1928.

Jèze-Neumark, F. Allgemeine Theorie des Budgets. 1927.

Lindahl, E. R. Die Gerechtigkeit der Besteuerung. Lund, 1919.

Lotz, W. Finanzwissenschaft. 1917.

Mann, Fritz Karl. « Steuerpolitische ideale, » Finanzwissenschaftliche Forschungen. Jena, 1937.

__________. Deutsche Finanzwirtschaft. Jena, 1929.

Moll, Bruno. Lehrbuch der Finanzwissenschaft. Berlin, 1930.

Nebenius, Karl Friedrich. Der öffentliche Kredit. 1820.

Neumark, Fritz. Reichshaushaltplan. 1929.

Rau, Karl. Lehrbuch der politischen Oekonomie. 1826-37.

Ritschl, Hans. Theorie der Staatswirthschaft und Besteuerung. Bonn, 1925.

Sax, Emil. Grundlegung der theoretischen Staatswirtschaft. Vienna, 1887.

Schaeffle, Albert, E.F. Die Steuern. Leipzig, 1895.

Roscher, Wilhelm. System der Finanzwissenschaft. 1886.

Schanz, G. V. Der Einkommensbegriff und die Einkommensteuergesetze, Finanzarchiv. 1896.

Stein, L. V. Lehrbuch der Finanzwissenschaft, 4 vols. 5th ed. 1885/1886.

Sultan, H. Die Staatseinnahmen: Versuch einer soziologischen Finanztheorie als Teil einer Theorie der politischen Oekonomie. 1932.

Tehralle, Fritz. Finanzwissenschaft. Jena, 1930.

Teschemacher, Hans. Handbuch der Finanzwissenschaft. Tübingen, 1927.

Wagner, A. Finanzwissenschaft. 1889.

Wicksell, K. Finanztheoretische Untersuchungen. Jena, 1896.

 

Authors of Italian language group

Barone, Enrico. Principii di economia finanziaria. Rome, 1920.

Conigliani, Carlo. De diritto pubblico nei sistemi finanziari; Studi di teoria finanziaria; e’indrezzo teorico nella Scienza finanziaria. Turin, 1903.

__________. Le leggi scientiche della finanza. 1903.

Cossa, L. “Scienze delle finanze”—Translated excerpts, by H. White. Taxation: Its principles and methods. New York and London, 1893.

Del Vecchio, Gusatavo. Lezioni di scienze delle finanze, 2d ed. Padua, 1923.

De Viti de Marco. Il carattero teorico della economia finanziaria. 1890.

De Viti de Marco, Antonio. Principii di economia finanziaria. Turin, 1934. Translation: First Principles of Public Finance, by Edith Pavlo Marget. New York, 1936.

Einaudi, L. Corso di scienza della finanza, 3rd ed. Turin, 1914.

__________. Principii di scienza della finanza. Turin, 1932.

Fasolis, G. Scienza delle finanze e diritto finanziario. 1933.

Flora, F. Manuale della scienze delle finanze, 6th ed. 1921.

Graziani, A. Istituzioni di scienza delle finanze. Torino, 1897.

Griziotti, B. Considerazioni sui metodi; limiti e problemi della Scienze pure delle Finanze. 1912. Pp. 39.

__________. Principii di politica, diritto e scienza delle tinanze. 1929.

__________. Studi di diritto tributario. 1931.

Loria, Achille. The Economic Synthesis: A study of the laws of income. Tr. by Eden Paul. London, 1914.

Mazzola. Dati scientifica della finanza pubblica. 1890.

Murray, Roberto. Principi fondamentali di scienza pura delle finanze. 1914.

Nitti, F. S. Principi di scienze delle finanze, 5th ed. Rome, 1922.

Pantaleoni, Moffea. Teoria della pressione tributaria. 1887.

Pareto, Vilfredo. “I debiti pubblici dopo la guerra,” (Rivista di Scienze Bancaria—February-March, 1916), Fatti e Teorie, p. 57-62. Firenze, 1920.

Pugliese, Mario. L’imposizione delle imprese di carattere internazionale. 1930.

Ricca-Salerno, G. Scienza della finanze. 1888.

__________. Storia delle Dottrine Finanziane in Italia. Translated. Rome, 1881.

__________.History of Fiscal Doctrines in Italy. Translated. 1890.

Rignano, Eugenio. Social Significance of the Inheritance Tax. Translated by Wm. J. Shultz. New York, 1924.

Rignano, Eucenid. Una Riforma socialista del diritto successorio. Bologna. 1920.

Roncali, A. Corso elementari di scienza finanziaria. Parma, 1887.

Tangorra, V. Trattato di Scienza delle Finanza.

Vanoni, Ezio. Natura ed interpretazione delle leggi tributarie. 1932.

 

Source: Columbia University Archive. Robert M. Haig Papers. Box 16, Folder “Bibliography”.

Image Source: Social Science Research Building. University of Chicago Photographic Archive, apf2-07466, Special Collections Research Center, University of Chicago Library.