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Harvard. Taussig’s use of own text in his Principles of Economics Course, 1911

“Let those who will—write the nation’s laws—if I can write its textbooks.”
Paul A. Samuelson. 

In 1911 the biggest gun of the Harvard economics department, Frank W. Taussig, published the first edition of his two-volume textbook Principles of Economics. In this posting I provide first his preface that I find particularly interesting for the following two statements:

“…a suitable place for taxation was not easy to find. I concluded finally to put the chapters on this subject at the very close, even though they may have the effect of an anticlimax, coming as they do after those on socialism.”

“[I] have said little on such a topic as the subjective theory of value, which in my judgment is of less service for explaining the phenomena of the real world than is supposed by its votaries. These matters and others of the same sort are best left to the professional literature of the subject.”

The second item is a letter he wrote that fall to the President of Harvard that provides his apologia for requiring students taking his course to own (or as he wrote “at least control”) a copy of his textbook. He says he contributed a number of his textbooks to the Phillips Brooks House Loan Library so “poor fellows” would not feel compelled to buy the book. That library had some three thousand textbooks in 1921 according to the Harvard Crimson. Cf. “The Phillips Brooks House. Formal Transfer to the University. Memorial Mass Meeting in Sanders.” The Harvard Crimson January 24, 1900.

______________________________________

PREFACE

[Taussig, Frank W. Principles of Economics. (2 vols., New York, 1911). Volume I  ; Volume II.]

I have tried in this book to state the principles of economics in such form that they shall be comprehensible to an educated and intelligent person who has not before made any systematic study of the subject. Though designed in this sense for beginners, the book does not gloss over difficulties or avoid severe reasoning. So one can understand economic phenomena or prepare himself to deal with economic problems who is unwilling to follow trains of reasoning which call for sustained attention. I have done my best to be clear, and to state with care the grounds on which my conclusions rest, as well as the conclusions themselves, but have made no vain pretense of simplifying all things.

The order of the topics has been determined more by convenience for exposition than by any strict regard for system In general, a subject has been entered on only when the main conclusions relating to it could be followed to the end. Yet so close is the connection between the different parts of economics that it has been necessary sometimes to go part way in the consideration of matters on which the final word had to be reserved for a later stage. Taxation has offered, as regards its place in the arrangement, perhaps the greatest difficulties. It is so closely connected with economics that some consideration of it seemed essential; whereas public finance in the stricter sense, whose problems are political quite as much as economic, has been omitted. Yet a suitable place for taxation was not easy to find. I concluded finally to put the chapters on this subject at the very close, even though they may have the effect of an anticlimax, coming as they do after those on socialism.

The book deals chiefly with the industrial conditions of modem countries, and most of all with those of the United States. Economic history and economic development are not considered in any set chapters, being touched only as they happen to illustrate one or another of the problems of contemporary society. Some topics to which economists give much attention in discussion among themselves receive scant attention or none at all. I have omitted entirely the usual chapters or sections on definitions, methodology, and history of dogma; and have said little on such a topic as the subjective theory of value, which in my judgment is of less service for explaining the phenomena of the real world than is supposed by its votaries. These matters and others of the same sort are best left to the professional literature of the subject. I hope this book is not undeserving the attention of specialists; but it is meant to be read by others than specialists.

Though not written on the usual model of textbooks, and not planned primarily to meet the needs of teachers and students, the book will prove of service, I hope, in institutions which offer substantial courses in economics. The fact that it is addressed to mature persons, not to the immature, should be an argument in favor of such use rather than against it. Being neither an encyclopedic treatise nor a textbook of the familiar sort, it offers no voluminous footnotes and no detailed directions for collateral reading. When facts and figures not of common knowledge have been cited, my sources of information have been stated. At the close of each of the eight Books into which the whole is divided, I have given suggestions for further reading and study, mentioning the really important books and papers.

I have expressed in the text, as occasion arose, my obligations to the contemporary thinkers from whom I have derived most stimulus. For great aid in revising the manuscript and proof, on matters both of form and substance, I am indebted to my colleagues Drs. B. F. Foerster and E. E. Day of Harvard University.

F. W. TAUSSIG.

Harvard University,
March, 1911.

______________________________________

[Letter:  Professor F. W. Taussig to Harvard President A. L. Lowell]

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

CAMBRIDGE, MASSACHUSETTS
October 6, 1911.

Dear Lawrence:

It is due to you to explain what course I finally follow in regard to the use of my book in Economics 1.

After consultation with various colleagues, – – Haskins, Hurlbut, Channing, and others, – – I came to the conclusion not to put a large number of copies into the libraries for students’ use. The book is not a reference book, but a textbook. It is not meant for occasional consultation, but for sustained study through the year. Library reading of the book is almost of necessity somewhat hurried; this is a book the students want to read and re-read. At all events, if it is not worth sustained study, it is not worth using in the course at all. We always treated other books used in the course in the same way, never making any pretense of supplying them in the library. Moreover, there is a serious practical difficulty in turning hundreds of students into the reading room at about the same time in the course of each week. This last, however, is a minor matter. The essential consideration is that ownership, or at least control, of the book, is for the intellectual advantage of the men.

One perplexity I have avoided like putting a supply of copies, for the use of poor men, in Phillips Brooks House. I do not want to compel the poor fellows to buy my book. There is a text-book loan library in Phillips Brooks House, and this I have supplied with a sufficient number of copies for the use of the needy. Hurlbut and Arthur Beane between them will see that these copies get into the proper hands.

Sincerely yours,

[signed]

F. W. Taussig

President A. Lawrence Lowell.

 

Source: Harvard University Archives. President Lowell’s Papers (UAI.5.160), 1909-1914 Nos. 405-436. Box 15, Folder 413.

 

Categories
Amherst Brown Bryn Mawr Columbia Cornell Harvard Indiana Johns Hopkins Michigan Nebraska Pennsylvania Princeton Smith Vassar Wellesley Williams Yale

Economics Courses at 17 U.S. Colleges and Universities 1890-91

COURSES IN ECONOMIC AND POLITICAL SCIENCE,
AMERICAN COLLEGES AND UNIVERSITIES.
[1890-91]

Amherst College
Brown University
Bryn Mawr College
Columbia College
Cornell University
Harvard University
Johns Hopkins University
Indiana University
University of Michigan
University of Nebraska
College of New Jersey (Princeton)
University of Pennsylvania
Smith College
Vassar College
Wellesley College
Williams College
Yale University

 

AMHERST COLLEGE, AMHERST, MASS.

Department of History and Political Science, 1890-91, includes:

History.—The first course extends through Junior year. It begins with an introductory outline of ancient history, in which the aim is acquaintance with the contributions of each period and people to general civilization. In the fuller study of mediaeval and modern history which follows the same aim is pursued. The political development of England and the United States receives particular attention. The second course extends through the first and second terms of Senior year. Its theme is the political and constitutional history of the United States. In each course the means of instruction are text-books, lectures, regular and frequent examinations, abstracts and essays upon topics assigned each student.

Political Economy.—The course extends through Senior year. The first term is devoted to theoretical political economy ; the second to the Labor Question, Socialism, and the relations of the state to transportation; the third to Finance, the Principles of Taxation, Public Credit, and Tariffs.

International Law.—This study is one of the electives of the third term of Senior year.

The methods of instruction in political economy and international law are like those in history.
Annual tuition fee, full college course, $110.
No scholarships nor prizes in department above mentioned.

 

BROWN UNIVERSITY, PROVIDENCE, R. I.

Department of History and Political Science, 1890-91, includes:

HISTORY.

(4) Political and Constitutional History of European and American States during recent years. 3 hrs., first half-year, Seniors, Prof. Jameson.
(5) History of International Law during recent years. 3 hrs., second half-year, Seniors, Prof. Jameson.
And four Honor Courses.

POLITICAL ECONOMY

(1) Elementary Course. 3 hrs., first half-year, Seniors, Mr. Fisher.
(2) Advanced Course. 3 hrs., second half-year, Seniors, Mr. Fisher.
And Honor Courses.

Tuition fee, $100.
The University has about one hundred scholarships, details concerning which can be learned from the Registrar.

 

BRYN MAWR COLLEGE, BRYN MAWR, PA. (For Women.)

Programme for 1891 includes:

POLITICAL SCIENCE:
MINOR COURSE.

First Semester.—Political Economy.
Second Semester.—Political Institutions.

MAJOR COURSE.

First Semester.—Advanced Political Economy, Administration.
Second Semester.—International Law, and in alternate years Political Theories.

GRADUATE COURSE INCLUDES:

Modern Theories of Sociology. Franklin H. Giddings, Associate in Political Science.

Tuition irrespective of number courses attended, $100 a year.
Five fellowships are awarded annually, none, however, in foregoing studies. They entitle the holder to free tuition, a furnished room in the college buildings, and $350 yearly.

 

COLUMBIA COLLEGE, NEW YORK CITY.

University Faculty of Political Science, 1890-91, includes:

HISTORY.

(1) Mediaeval History. 2 hours a week, 1st session, Prof. Dunning.
(2) Modern History to 1815. 2 hours a week, 2d session, Prof. Goodnow.
(3) Modern History since 1815. 2 hours a week, 1st session, Prof. Munroe Smith.
(4) Political and Constitutional History of Europe. 4 hours a week, 1st session. Prof. Burgess.
(5) Political and Constitutional History of England to 1688. 2 hours a week, 1st session, Prof. Osgood.
(6) Political and Constitutional History of England since 1688. 2 hours a week, 2d session, Prof. Osgood.
(7) Political and Constitutional History of the United States. 4 hours a week, 2d session, Prof. Burgess.
(8) History of New York State. 2 hours a week, 2d session, Mr. Whitridge.
(9) History of the Relations Between England and Ireland, 1 hour through the year, Prof. Dunning.
(10) Historical and Political Geography. 1 hour through the year, Prof. Goonnow
(11) Seminarium in European History. 2 hours through the year, Prof. Osgood.
(12) Seminarium in American History. 2 hours through the year. Prof. Burgess.

POLITICAL ECONOMY.

(1) Elements of Political Economy. 2 hours a week, 2d session, Prof. Osgood.
(2) Historical and Practical Political Economy. 3 hours per week through the year, Prof. R. M. Smith.
(3) History of Economic Theories. 2 hours through the year, Prof. Seligman.
(4) Socialism and Communism. 2 hours per week through the year, Prof. R. M. Smith.
(5) Science of Finance. 2 hours per week through the year, Prof. Seligman.
(6) Financial History of the United States. 2 hours per week through the year, Prof. Seligman.
(7) Tariff History of the United States. 2 hours per week, 2d session, Prof. Seligman.
(8) State and Local Taxation. 1 hour per week through the year, Dr. Spahr.
(9) Statistics, Methods, and Results. 2 hours per week through the year, Prof. R. M. Smith.
(10) Railroad Problems. 2 hours per week through the year, Prof. Seligman.
(11) Ethnology. 2 hours per week through the year, Prof. R. M. Smith.
(12) Seminarium in Political Economy. 2 hours per week through the year, Profs. R. M. Smith and Seligman.
(13) Seminarium in Finance. 2 hours per week through the year, Prof. Seligman.
(14) Seminarium in Social Science and Statistics. 2 hours per week through the year, Prof. R. M. Smith.

CONSTITUTIONAL AND ADMINISTRATIVE LAW.

(1) Comparative Constitutional Law of Europe and the United States. 3 hours per week. Prof. Burgess.
(2) Comparative Constitutional Law of the Commonwealths of the United States. 2 hours per week, 2d session, Dr. Bernheim.
(3) Administrative Organization and the Civil Service of Europe and the United States. 3 hours per week, 1st session, Prof. Goodnow.
(4) Administrative Action: Police Power, Education, Public Charity, Transportation, etc. 3 hours a week, 2d session. Prof. Goodnow.
(5) Local Government. 2 hours a week, 1st session. Prof. Goodnow.
(6) Municipal Government. 2 hours a week, 2d session, Prof. Goodnow.
(7) Law of Taxation. 1 hour through the year, Prof. Goodnow.
(8) City and State Politics. 1 hour per week through the year, Dr. Bernheim.
(9) Seminarium in Constitutional Law. 2 hours a week through the year, Prof. Burgess.
(10) Seminarium in Administrative Law. 2 hours a week through the year, Prof. Goodnow.

DIPLOMACY AND INTERNATIONAL LAW.

(1) General History of Diplomacy. 2 hours per week, 1st session, Pi of. Burgess.
(2) Diplomatic History of the United States. 2 hours per week, 2d session, Dr. Bancroft.
(3) Principles of International Law. 2 hours per week, 2d session, Prof. Burgess.
(4) Seminarium in International Law. 2 hours per week through the year. Prof. Burgess and Dr. Bancroft.

LEGAL HISTORY AND COMPARATIVE JURISPRUDENCE.

(1) History of European Law to Justinian. 2 hours a week, 1st session, Prof. Munroe Smith.
(2) History of European Law from Justinian to the present day. 2 hours a week, 2d session, Prof. Munroe Smith.
(3) Comparative Jurisprudence. 2 hours a week through the year, Prof. Munroe Smith.
(4) International Private Law. 1 hour per week through the year. Prof. Munroe Smith.
(5) Seminarium in Comparative Legislation. 2 hours a week through the year, Prof. Munroe Smith.

POLITICAL PHILOSOPHY.

(1) History of Political Theories, Ancient and Mediaeval. 3 hours a week, 1st session. Prof. Dunning.
(2) History of Modern Political Theories. 3 hours a week, 2d session, Prof. Dunning.
(3) Seminarium in Political Theories of the 19th Century. 2 hours per week through the year, Prof. Dunning.

 

Some of the foregoing courses are given only in alternate years. During 1891-92 several new courses will be offered in History and in Sociology.

The course of study covers three years. The degree of A. B. or Ph.B. is conferred at the end of the first year, A.M. at the end of the second, and Ph.D. at the end of the third.
Tuition fee $150 a year, reducible on application to $100. Tuition fee for special courses, $10 for each one-hour course. Twenty-four University Fellowships of $500 each with free tuition, designed to foster original research, are awarded to advanced students in the University. A proportionate number are allotted to the Faculty of Political Science. Four additional fellowships of $250 each, with free tuition, are awarded annually to advanced students of Political Science. Three prize lectureships of $500 each for three years are awarded to graduates in Political Science.

For further information address the Registrar.

 

CORNELL UNIVERSITY, ITHACA, N. Y.

Department of History and Political Science, 1890-91, includes:

HISTORY.

(4) Political and Social History of Europe During the Middle Ages. 1 hr. thrice a week, Asst. Prof. Burr.
(5) Political and Social History of Europe from the Renaissance to the French Revolution. 1 hr. thrice a week, Asst. Prof. Burr.
(6) Political and Social History of England from the Saxon Invasion to the Close of the Napoleonic Wars. 1 hr. thrice a week, Asst. Prof. Burr.
(7) Political, Social, and Constitutional History of Europe from Beginning of French Revolution of 1789 to the Franco-German War of 1870. 1 hr. thrice a week. Several lectures in this course from ex-Pres. White and Pres. Adams.
(12) American Constitutional History and American Constitutional Law. 1 hr. thrice a week, Prof. Tyler.
(13) American Historical Seminary for Seniors and Graduates, and for Juniors and Seniors. The original investigation of subjects in American Constitutional History. 2 hrs. a week, Prof. Tyler.
(14) History of Institutions. Fall term: General principles of political organization. Winter term: Growth of the English Constitution. Spring term: Methods of municipal administration. 1 hr. thrice a week, Prof. Tuttle.
(15) International Law and History of Diplomacy. 1 hr. twice a week, Prof. Tuttle.
(16) Literature of Political Science. 1 hr. a week, Prof. Tuttle.
(17) General Seminary. Study, from the sources, of obscure political and historical questions. 2 hrs. a week, Prof. Tuttle.

POLITICAL ECONOMY.

(19) Elementary course. Principles of Political Economy. Banking. Financial Legislation of the United States. 1 hr. thrice a week, Prof. Laughlin.
(20) Advanced Course. Discussion of economic writers and systems. Investigation of current economic topics: Bimetallism, Shipping, Railway Transportation. 1 hr. twice a week. Prof. Laughlin.
(21) History of Tariff Legislation of the United States. 1 hr. a week, Prof. Laughlin.
(22) Economic seminary. hrs. a week, Prof. Laughlin.

SOCIAL SCIENCE.

(26) Social Science, including the History and Management of Charitable and Penal Institutions. 1 hr. a week, Prof. Collin.

 

Tuition fee, $125 a year.

Fellowships, eight in number, yielding $400 for one year, or in cases of remarkable merit for two years, are offered for high proficiency in advanced study, without special reference to foregoing departments.

 

HARVARD UNIVERSITY, CAMBRIDGE, MASS.

Department of Political Economy, 1890-91, includes:

PRIMARILY FOR UNDERGRADUATES

(1) First half-year: Mill’s Principles of Political Economy. Second half-year: Division A (Theoretical)—Mill’s Principles of Political Economy. Cairnes’ Leading Principles of Political Economy. Division B (Descriptive)—Money, Finance, Railroads; Social Questions; Laughlin’s History of Bimetallism. Dunbar’s Chapters on Banking. Hadley’s Railroad Transportation. Lectures. 1 hr. thrice a week, Asst. Prof. Taussig, assisted by Mr, Cole.

All students in Course 1 will have the same work during the first half-year, but will be required in January to make their election between Divisions A and B for the second half- year. The work in Division A is required for admission to Course 2.

(4) Economic History of Europe and America since the Seven Years’ War. Lectures and written work. 1 hr. thrice a week, Prof. Dunbar, assisted by Mr. Cole.

COURSES FOR GRADUATES AND UNDERGRADUATES.

(2) History of Economic Theory. Examination of Selections from Leading Writers. Socialism. 1 hr. thrice a week, Asst. Prof. Taussig and Mr. Brooks.
(3) Investigation and Discussion of Practical Economic Questions. 1 hr. twice a week (first half-year), counting as a half course, Mr. Brooks.
(6) History of Tariff Legislation in the United States. Half course. 1 hr. thrice a week (second half-year). Asst. Prof. Taussig.
(8) History of Financial Legislation in the United States. 1 hr. twice a week (second half-year), counting as a half-course, Prof. Dunbar.
(7) Public Finance and Banking. Leroy-Beaulieu’s Science des Finances. 1 hr. twice a week, Prof. Dunbar.
(9) Railway Transportation. 1 hr. twice a week (second half-year), counting as a half- course, Asst. Prof. Taussig.

PRIMARILY FOR GRADUATES.

(20) Courses of Research.—Advanced Study and Research. Prof. Dunbar and Asst. Prof. Taussig.

 

Department of History, 1890-91, includes among Courses for Undergraduates:

(2) Constitutional Government (elementary course). Half course. 1 hr. thrice a week (first half-year), Prof. Macvane.
(9) Constitutional History of England to the Sixteenth Century. 1 hr. thrice a week, Dr. Gross.
(13) Constitutional and Political History of the United States (1783-1861). 1 hr. thrice a week, Asst. Prof. Hart.
(15) Elements of International Law. History of Treaties. 1 hr. thrice a week, Dr. Snow.
(22) Constitutional History of England to the Tudor Period, with attention to the sources. Dr. Gross.
(25) English Constitutional History from the Tudor Period to the Accession of George I. Mr. Bendelari.
(26) History of American Institutions to 1783. Asst. Prof. Channing.
(27) Constitutional Development of the United States. Discussion of Constitutional principles in connection with historical questions. Asst. Prof. Hart.
(29) Constitutional History of England since the Accession of George I. Second half- year. Prof. Macvane and Asst. Prof. Channing.
(30) Federal Government: historical and comparative. 1 hr. thrice a week (first half- year), Asst. Prof. Hart.
(31) Leading Principles of Constitutional Law: selected cases, American and English. 1 hr. thrice a week (second half-year), Prof. Macvane.
(32) The Historical Development of International Law. Dr. Snow.

And among Courses of Research:
(20b) The History of Local Government During the Middle Ages, especially in Great Britain: Seminary. Dr. Gross.
(20c) English History in the Period of the Long Parliament: Seminary. Mr. Bendelari.

The full annual tuition fee of a graduate student is $150. If a student has a degree in Arts, Letters, or Science, he enters the Graduate School, and finds any Courses in Political Science open to him which there is prima facie reason to suppose him prepared to take. If he has no degree he must apply for admission as a Special Student. Good cases are always favorably acted upon. The tuition fees of special students are: For any full elective course, $45; for a half course, $25 a year.

Among Fellowships are: One having income $450, for the study of Political Economy; another, income $500, for the study of Social Science; another, income $450, for the study of Ethics in its relation to Jurisprudence or to Sociology; another, income $450, assigned to students of Constitutional or International Law.

 

JOHNS HOPKINS UNIVERSITY, BALTIMORE, MD.

Department of History and Politics, 1890-91, includes:

GRADUATE AND ADVANCED COURSES.

(1) The Seminary of History and Politics for original investigation in American Institutional, educational, economic, and social history. Two hours weekly through the year, Dr. Herbert B. Adams.
(2) Early History of Institutions and Greek Politics. Two hours weekly, first half year. Dr. Herbert B. Adams.
(3) History of Prussia, devoting particular attention to the economic, administrative, and educational reforms instituted by Baron vom Stein. Herbert B. Adams.
(4) Lectures on Historical and Comparative Jurisprudence. Two hours weekly, through the year, Mr. Emmott.
(5) Finance and Taxation, giving special attention to taxation in American states and cities, and reviewing the tariff legislation of the United States. Two hours weekly, through the year, Dr. R. T. Ely.
(6) Economic Conference. Three out of four of these treat Adam Smith and his English and Scotch predecessors. The fourth is devoted to recent economic periodical literature. One evening each week, Dr. R. T. Ely.
(7) Dr. Woodrow Wilson gives twenty-five lectures upon Administration, beginning a new three-year series. The lectures of 1891 cover general questions of Public Law as connected with Administration, and examine the question of a professional civil service.
(8) Mr. J. M. Vincent lectures on courses of history and science of historical investigation.
(9) Dr. C. L. Smith lectures on social science.

UNDERGRADUATE COURSES.

(1) Greek and Roman History. Three hours weekly, from January until June.
(2) Outlines of European History (substitute for Course 1). Three hours weekly, from January until June, with Dr. C. L. Smith.
(3) History, Minor course: Herodotus and Thucydides, in translation. Weekly through the year, with a classical instructor.
(4) History, Minor course: Livy and Tacitus, in the original. Four times weekly, with classical instructors.
(5) History, Major course: Church History; Mediaeval and Modern Europe. Daily through the year, with Dr. Adams and Dr. C. L. Smith.
(6) Political Science, Minor course: introduction to Political Economy. Daily through the year, with Dr. Ely.
(7) Political Science, Major course: International Law and Diplomatic History; English and American Constitutional History. Daily, with Dr. Adams and Mr. Emmott.

Fee for tuition, Full University Course, $125 a year. Special students, not candidates for a degree, can follow certain courses, not exceeding five lectures weekly (of which a list may be seen in Treasurer’s office), on payment of $50 a year.

Twenty Fellowships, each yielding $500, but not exempting holder from charges for tuition, are annually awarded in the University. These are bestowed almost exclusively on young men desirous of becoming teachers of science and literature, or who propose to devote their lives to special branches of learning. There are also twenty scholarships of $200 each annually; and in addition, scholarships for candidates from Maryland, Virginia, North Carolina, and the District of Columbia, details concerning which are given in the University Register.

 

INDIANA UNIVERSITY, BLOOMINGTON, IND.

Department of History, Economics and Social Science, 1890-91, includes:

HISTORY.
PROF. EARL BARNES.

English Constitution and its History. 1st and 2d terms, daily.
History of the Constitution of the United States, 1774-1789. 1st term, daily.
American Political History, 1789-1890. Politics and Administration. 2d term, daily.

ECONOMICS AND SOCIAL SCIENCE.
PROF. J. W. JENKS.

Political Economy. 3 times a week, 1st and 2d terms.
Politics, elementary. Twice a week, 1st and 2d terms.
History of Political Economy. 5 times a week, 3d term.
Introduction to Sociology. 3 times a week, 1st term.
Introductory Course in Statistics. Twice a week, 1st term.
Social Problems. 5 times a week, 2d term.
History of Political Ideas. 5 times a week, 3d term.
Comparative Politics. Daily, 1st term.
Finance. 3 times a week, 2d and 3d terms.
Economic Seminary, for advanced students. Once a week, two-hour sessions.

Tuition free. A silver medal is offered annually by the Cobden Club, London, for the best work in Political Economy, Senior Class.

 

UNIVERSITY OF MICHIGAN, ANN ARBOR.

Departments of Political Economy, International Law, History, and Philosophy, 1890-91, includes:

POLITICAL ECONOMY
First Semester.

(1) Principles of Political Economy. 1 hr. thrice a week, Prof. Adams.
(3) Principles of the Science of Finance. 1 hr. twice a week, Prof. Adams.
(5) History of Economic Thought. 1 hr. a week, Prof. Adams.
(9) Seminary in Economics. 2 hrs. a week, Prof. Adams.
(11) Foreign Relations of the United States. 1 hr. twice a week, Mr. Hicks.

Second Semester.

(2) Unsettled Questions in Political Economy. 1 hr. thrice a week, Prof. Adams.
(4) Social and Industrial Reforms. 1 hr. twice a week, Prof. Adams.
(6) Tariff Legislation in the United States. 1 hr. a week, Mr. Hicks.
(10) Seminary in Economics. 2 hrs. a week, Prof. Adams.
(12) Foreign Relations of the United States. 2 hrs. a week, Mr. Hicks.

 

INTERNATIONAL LAW.
First Semester.

(1) Lectures on International Law. 1 hr. twice a week, Pres. Angell.

Second Semester.

(2) History of Treaties. 1 hr. twice a week, Pres. Angell.

 

HISTORY.
First Semester.

(3) Constitutional History of the United States. 1 hr. twice a week, Asst. Prof. Laughlin.

(5) Constitutional Law of the United States. 1 hr. twice a week, Asst. Prof. Laughlin.

(11) Seminary. Constitutional History of the United States. 2 hrs. a week, Asst. Prof. Laughlin.

(12) Comparative Constitutional Law. 3 hrs. a week, Prof. Hudson.

Second Semester.

(1) Political and Constitutional History of England. 1 hr. thrice a week, Mr. McPherson.

(4) Constitutional History of the United States. 1 hr. twice a week, Asst. Prof. Laughlin.

 

PHILOSOPHY.
Second Semester.

(13) Seminary. Studies in the History of Political Philosophy. Prof. Dewey.

The fees are: matriculation, for citizens of Michigan, $10; for others, $25. Annual fee in the Department of Literature, Science, and the Arts, in which foregoing studies are included, $20 for citizens of Michigan, $30 for others.

No scholarships. The one fellowship is for proficiency in Greek and Latin.

 

UNIVERSITY OF NEBRASKA, LINCOLN.

Department of Economic and Political Science, 1890-91, includes:

(1) Political Economy: General study of the subject, with the use of some text as Walker, Ely, or Andrews. Lectures on the character and history of the science, and on specific application of its principles to practical affairs. Topical reports from students required, and exercises assigned in the use of statistics. Junior or Senior Year; First and second terms, three hours.
(2) Taxation ; text and lectures. Junior or Senior Year: Third term, three hours.
(3) International Law: Outline study of the subject, with text. Third term, three hours.
(4) Municipal Administration: Comparative study of the City Governments of the present time, with especial reference to American practice in the administrative branches. First and second terms, two hours.
(5) Constitutional Law: A study of Cooley’s text-book, and lectures on the industrial bearings of the complex limitations imposed by our State and local constitutions. Third term, three hours.
(6) Private Corporations: First term, a comparative and historical view of corporation law in its economic aspects; second term, Railroad Problems; third term, Special reports on assigned topics involving original research. Whole year, two hours.
(7) Charities and Corrections: Lectures, study of reports of the State Boards and of the National Conference of Charities and Corrections, and visits to the charitable and penal institutions of the vicinity; third term, three hours.
(8) Methods of Legislating; A comparative view of the rules and practice of modern legislative assemblies, with special reference to the machinery of congressional and legislative action in the United States; first term, one hour,

All the above are taught by Associate Professor Warner. In the other departments Professor Kingsley offers a course in Anthropology, and many of the courses in History deal with the historical aspects of economic and industrial problems, and with the History of Institutions.

The terms of the year are respectively 14, 11, and 11 weeks. No scholarships. No fees.

 

COLLEGE OF NEW JERSEY, PRINCETON, N. J.

Departments of History and Political Science, and Jurisprudence and Political Economy, 1890-91, include:

HISTORY AND POLITICAL SCIENCE.
PROF. SLOANE.

(7) Constitutional and Political History of England since 1688. 2 hrs. a week, 1st term. Open to Juniors and Seniors.
(8) American Political History. 2 hrs. a week, 2d term. Open to Juniors and Seniors.
(9) Comparative Politics. Origin and Theory of the State. 2 hrs. a week, 1st term. Open to Seniors.
(10) History of Political Theories. 2 hrs. a week, 2d term. Open to Seniors.
(11) Contrasts between Parliamentary and Congressional Governments. 2 hrs. a week, 1st or 2d term. Open to Graduate Students.

JURISPRUDENCE AND POLITICAL ECONOMY.
PROF. WOODROW WILSON.

(1) In Public Law, its evidence as to the nature of the state and as to the character and scope of political sovereignty. 2 hrs. a week, 1st term, alternate years. Junior and Senior elective.
(3) American Constitutional Law, state and federal. 2 hrs. a week, 2d term, alternate years. Junior and Senior elective.
(5) Administration. 2 hrs. a week, 2d term, alternate years. Senior elective, and open to Graduate Students.
(7) Political Economy: Elementary course. Walker’s Elementary Political Economy, and lectures. 2 hrs. a week, 2d term. Required of Juniors.
(8) Political Economy: Advanced course. 2 his. a week, 1st term. Senior elective.

 

Academic tuition fee, $100 per an.

Admission to special courses on terms detailed in College Catalogue, p. 26.

A fellowship of $500 annually is offered in Social Science. Several fellowships in other departments of the academic course are also offered.

Among prizes are: Annual interest on $1000 for best examination. Senior class, Political Science; same, Political Economy; $50, American Political History; annual interest on $1000, best debater, American Politics.

 

UNIVERSITY OF PENNSYLVANIA, PHILADELPHIA, PA.

Wharton School of Finance and Economy, 1890-91, includes:

HISTORY.

(3) Constitution of the United States. 2 hrs. each week, Prof. Thompson.
(4) Political and Social History of Europe since 1760. 3 hrs., Mr. Cheyney.
(6) Economic and Social History of Europe singe 1789. 2 hrs., Mr. Cheyney.
(7) American Political and Social History, Colonial. 3 hrs., 1st term, Prof. McMaster.
(8) Church and State in America. 2 hrs., 1st term, Prof. Thompson.
(9) American Political and Social History (Washington to Jackson). 3 hrs., 2d term, Prof. McMaster.
(10) Economic History of the United States. 2 hrs., 2d term, Prof. Thompson.
(13) American Political and Social History (1825-1889). 4 hrs., 1st term, Prof. McMaster.
(14) American Constitutional History (1776-1889). 3 hrs., 2d term. Prof. McMaster.

ECONOMICS AND SOCIAL SCIENCE.

(1) Political Economy, elementary. 3 hrs., 1st term, Prof. Patten.
(2) Currency and Banking. 3 hrs., 2d term, Prof. Patten.
(3) Social Science. 2 hrs., Prof. Thompson.
(4) Social Science, advanced. 3 hrs., 1st term. Prof. Thompson.
(5) Political Economy, advanced, 3 hrs., 1st term. Prof. Patten.
(6) Political Economy, History of. 3 hrs., 2d term, Prof. Patten.
(7) Revenue System in the United States and leading foreign countries. 2 hrs., 1st term, Prof. James.
(8) History and Theories of. Public Finance, especially of Taxation. 2 hrs., 2d term, Prof. James.
(9) Statistics. 2 hrs., 2d term, Dr. Falkner.

PUBLIC LAW AND POLITICS.

(1) Constitution of the United States. 3 hrs., 1st term, Prof. James.
(2) State Constitutional Law. 2 hrs., 2d term. Dr. Thorpe.
(3) History and Theory of the State. 1 hr., 2d term, Prof. James.
(4) Constitutions of leading foreign countries. 2 hrs., 2d term, Prof. James.
(5) Public Administration in the United States. 2 hrs., 1st term, Prof. James.
(6) Public Administration in leading foreign countries. 2 hrs., 2d term, Prof. Jamss.

SEMINARIES.

(1) In Political Science. Prof. James.
(2) In Political Economy. Prof. Patten.

 

Fees, $150 a year for undergraduate work, and the same for graduate work without the fee for examination for advanced degree.

Five honorary scholarships are granted to graduates of any reputable American college; these make free all instruction in the graduate work of the University relating to subjects studied in the Wharton School.

The Wharton School is a unique endeavor to introduce a business course into the body of advanced college work, to make the college mean at least as much to the business man as to the professional classes.

 

SMITH COLLEGE, NORTHAMPTON, MASS. (For Women.)

Course for 1890-91 includes:

POLITICAL ECONOMY, POLITICAL SCIENCE, ETC.
PROF. J. B. CLARK.

Political Economy, Lectures, with use of Laughlin’s Political Economy and Clark’s Philosophy of Wealth. Senior year, fall term.
Political Economy and Political Science, with special readings. Winter term
Political History of the United States, and Political Economy, Lectures. Summer term.

 

Tuition fee for all students, regular, special and graduate, $100 a year.

Annual scholarships of $50 and $100 each have been established to assist meritorious students.

 

VASSAR COLLEGE, POUGHKEEPSIE, N. Y. (For Women.)

The Department of History and Economics, 1890-91, includes:

In the Senior year an advanced course is offered for the critical study of the origin and development of the English and American constitutions and a comparative study of the existing political institutions of the two countries.

In American history the work includes the study of the government of the individual colonies, the different attempts, to form a union, and the adoption of the present constitution.

(1) Principles of Economics. Recitations from Walker’s Political Economy and Jevons’ Money and the Mechanism of Exchange. First semester, elect for Seniors. Associate Professor Mills.
(2) Advanced Course. Special topics. Lectures and investigation. Second semester, elective for Seniors who have had Course 1. Associate Professor Mills.

 

Tuition, day students, $115 a year.

Several scholarships are offered, particulars of which are given in Calendar.

 

WELLESLEY COLLEGE, WELLESLEY, MASS. (For Women).

The Department of History, Political Science, and Political Economy, 1889-90, includes:

HISTORY.

(1) Political History of England and the United States: England, first semester; United States, second semester.

(4) Constitutional History of England and United States: England, first semester, Coman’s Outlines; United States, second semester. Hart’s Outlines.

(6) Political Science: lectures on Grecian and Roman methods of government, twice a week, first semester; lectures on the history of political institutions, twice a week, second semester.

POLITICAL ECONOMY.

(1) Economic Science, first semester. Authorities, Mill, Marshall, Walker.

(2) Economic and Social Problems, second semester. Lectures and special topics.

No text-books are used. Each class is provided with printed outlines, and adequate references to the best authorities. Lectures are given where guidance is needed, but the student is made responsible for a large amount of independent library work.

Tuition, $150 a year.

There are more than twenty scholarships, details of which are given in calendar.

 

WILLIAMS COLLEGE, WILLIAMSTOWN, MASS.

Department of Political Economy and Political Science, 1890-91, includes:

Political Economy is a prescribed study, running through the 2d and 3d terms (33 weeks). 3 times a week, Prof. A. L. Perry.
Political Science is an elective study, running through all the terms beginning with the 1st of Junior Year. The basis of instruction is the text of the Constitution, interpreted in the light of decisions of the Supreme Court. Prof, A. L. Perry.
In 3d term of Senior Year two hours a week are given to Sociology. Prof. J. Bascom.

History includes principles and methods of historical study as applied to the politics and institutions of Europe.

 

Fee for tuition, per year, $105.

Perry prizes, $50 and $25 respectively, are awarded in History and Political Science.

The Cobden Club, of London, offers a silver medal annually for the highest proficiency in Political Economy.

 

YALE UNIVERSITY, NEW HAVEN, CONN.

Departments of Political Science and Law and History, 1890-91, include:

POLITICAL ECONOMY.

(10) Political Economy, its elements, recent financial history of the United States, with lectures on elementary principles. 2 hrs., both terms. Prof. Sumner.
(11) Political Economy. A one-year course planned to give a comprehensive knowledge of essentials to those whose chief interest lies in other departments of study. 3 hrs., both terms (Seniors), Prof. Sumner.

(Courses 12 to 15 are open only to those who have taken Course 10.)

(12) Advanced Political Economy. 2 hrs., both terms (Seniors), Prof. Sumner.
(13) Finance. 1 hr., both terms (Seniors), Prof. Sumner
(14) School of Political Economy, for those who make this their chief study during the year. Prof. Sumner and Dr. Schwab.
(15) Social Science, an elementary course. 1 hr., both terms (Seniors), Prof. Sumner.
(16) Industrial History of the United States since 1850. Open only to those who have already studied Political Economy. 2 hrs., first term (Seniors), Prof. Hadley.
(17) Modern Economic Theories. 2 hrs., 2d term (Seniors), Prof. Hadley.

LAW.

(18) Includes constitutional and international law. Open only to those who take Course 19. 2 hrs., 2d term (Seniors), Prof. Phelps.
(19) Jurisprudence. Includes law in its relation to the origin, development and government of political society, nature and origin of legal rights, and principles of the law governing rights in land. 2 hrs., 1st term (Seniors), Prof. Robinson.

HISTORY.

(20) History of Europe since 1789, mainly political. 2 hrs., both terms (Seniors), Prof. Wheeler.
(21) English History, political and constitutional. 3 hrs., both terms (Seniors), Prof. Wheeler.
(22) American History. In the national period special attention is given to the rise and progress of political parties. 2 hrs., both terms (Juniors), Prof. C. H. Smith.
(23) American History. Study of the Constitution and Supreme Court interpretations. 2 hrs., both terms (Seniors), Prof. C. H. Smith.
(24) Europe from 1520 to 1789. With special attention to political history. 2 hrs., both terms, Prof. Adams.

The foregoing are among the elective courses. Juniors select nine hours per week, and Seniors select fifteen. The no. of hrs. specified means hrs. per week.

 

The fee for graduate instruction is generally $100 per annum, but may be more or less according to the course pursued. A variety of fellowships and prizes are offered, none, however, specifically in foregoing courses.

________________________

Source: The Society for Political Education. The Reader’s guide in Economic, Social and Political Science, being a classified bibliography, American, English, French and German, with descriptive notes, author, title and subject index, courses of reading, college courses, etc., R. R. Bowker and George Iles, eds. New York: G. P. Putnam’s Sons, 1891, pp. 129-137.

 

 

Categories
Harvard Suggested Reading Syllabus

Harvard. Honors Economic Theory, Chamberlin/Leontief/Taylor, 1939-40

In the following academic year (1940-41) this year-long course was broken into two distinct semester courses, Economics 1a (Economic Theory/Chamberlin) and Economics 1b (The Intellectual Background of Economic Thought/Taylor). From the enrollment statistics and the course catalogue we see that this was mainly a course taken in the junior year by undergraduates pursuing an A.B. with honors in economics.

Since this posting, I have included a transcription of the final examination questions for the second term of this course.

____________________

[Harvard Catalogue Course Listing]

Economics 1. Economic Theory

Mon., Wed., and (at the pleasure of the instructors) Fri., at 11. Professor Chamberlin, Dr. O. H. Taylor, and Associate Professor Leontief.

This course will be conducted mainly by discussion. It is open only to candidates for the degree with honors. The first half (but not the second) may be taken as a half-course with the consent of the instructor.

Source: Harvard University. Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences During 1939-40 (2nd ed.). Official Register of Harvard University, Vol. XXXVI, No. 42 (September 22, 1939), p. 154.

____________________

[Course Enrollment]

[Economics] 1.  Professor Chamberlin, Dr. O. H. Taylor, and Associate Professor Leontief. – Economic Theory.

1 Graduate, 1 Senior, 51 Juniors, 1 Other:  Total, 54.

Source: Harvard University. Report of the President of Harvard College and Reports of the Departments, 1939-40, p. 98.

____________________

ECONOMICS 1

1939-40

First Semester

  1. The Law of Supply and Demand. Meaning and Generality. Relation to the Law of Cost. Cost curves and supply curves. Relation to monopoly and to competition. Pure and perfect competition. Market problem illustrating deviations from “equilibrium” as defined by perfect competition. Equilibrium vs. the equation of supply and demand.
    Mill – Principles, Book III, chapters 2, 3, 5.
    Chamberlin – Monopolistic Competition, chapters 1, 2.
    Henderson – Supply and Demand, chapters 1, 2.
    Marshall – Principles, pp. 348-50; p. 806 note.
  2. Competitive theory, illustrated by Marshall.
    Marshall – Principles, Book V, chapters 1-5; Book IV, chapter 13; Book V, chapters 8, 9, 10, 12.
  3. The effect of small numbers in the market.
    Monopolistic Competition, chapter 3.
  4. Product differentiation. Co-existence and blending of monopoly and competition. Output (sales) as a function of price, “product” and selling outlays. Price-quantity relationships examined in some detail, selling costs and products as variables more briefly.
    Monopolistic Competition, chapters 4, 5, 6, 7 (pp. 130-149); Appendices C, D, E.
    Alsberg, C.L. – “Economic Aspects of Adulteration and Imitation”, Q.J.E., Vol. 46, p. 1 (1931).
  5. Production and Distribution. Diminishing returns. Diminishing marginal productivity. The laws of cost. General effect of monopoly elements on the analysis.
    Garver & Hansen – Principles, chapter 5.
    Wicksell – Lectures on Political Economy, Vol. I, pp. 101-133 (omit all small type except on pages 111, 113, 114 and 115.) [Knut Wicksell, Vorlesungen über Nationalökonomie auf Grundlage des Marginalprinzipes, 2 vols. [1913]]
    Viner, J.  – “Cost Curves and Supply Curves,” Zeitschrift für Nationalökonomie, 1931.
    Monopolistic Competition, Appendix B.
  6. Theory of Wages.
    Hicks – Theory of Wages, Part I.

____________________

Economics 1
Second Semester
1939-40

  1. Theory of Wages (continued). Professor Leontief.
    Hicks, J. R., Theory of Wages, Chs. 9 and 10.
    Lester, R. A., “Overtime Wage Rates,” The American Economic Review, December, 1939. (Suggested)
    Douglas, P. H., The Theory of Wages, Ch. 13.
  2. Theory of Rent.
    Ricardo, D., Principles, Ch. 3 [sic, Ch. 2 intended].
    Marshall, Principles, Book V, Chs. 10,11.
  3. Theory of Capital and Interest.
    Clark, J. B., Distribution of Wealth, Chs. 9, 20.
    Böhm-Bawerk, Positive Theory of Capital, Books II, Chs. 2 and 5, Book V.
    Fisher, Irving, The Rate of Interest, Chs. 5, 6, and 7.
  4. Production and Distribution Interrelated.
    Wicksell, Lectures on Political Economy, Vol. I, pp. 196-206 (omit small type)
    [Knut Wicksell, Vorlesungen über Nationalökonomie auf Grundlage des Marginalprinzipes, 2 vols. [1913]].
    Keynes, The General Theory of Employment, Interest and Money, Chs. 2 and 8, paragraph B.
  5. Profits. Professor Chamberlin.
    Marshall, Book VI, chapter 5, section 7; Chs. 7, 8.
    Taussig, Principles, Vol. II, Ch. 50, section 1.
    Henderson, Supply and Demand, chapter 7.
    Berle and Means, The Modern Corporation, Book IV.
    Chamberlin, Monopolistic Competition, Ch. 5, section 6; Ch. 7, section 6: Appendices D, E; Ch. 8.
  6. Welfare Economics. Dr. O. H. Taylor.
    Pigou, A. C. Economics of Welfare (3rd ed.), Part I, Chs. 1, 2, 3, 7, 8; and Part II, Chs. 1-8 inclusive, 9, 11, 14, 15, 16, 17. [4th edition, 1932]
  7. Criticisms of Economic Theory, its Method and Assumptions. I. Psychology and Economics.
    Mitchell, W. C., “The Rationality of Economic Activity,” Journal of Political Economy, Vol. 18, pp. 97 ff., and 197 ff. (February, March 1910).
    Mitchell, W. C., “Human Behavior and Economics,” Quarterly Journal of Economics, Vol. 29, p. 1 ff. (November 1914).
    Mitchell, W. C., “The Prospects of Economics,” in The Trend of Economics, volume edited by R. G. Tugwell.
  8. Criticisms of Economic Theory, its Method and Assumptions. II. Economic Principles as “Natural Laws.”
    Tugwell, R. G. “Experimental Economics,” part on “Natural Law,” in volume The Trends of Economics.
    Taylor, O. H., “Economics and Natural Law,” Quarterly Journal of Economics, Vol. 44, p. 1ff., and p. 205 ff.

 

___________________________

Source:  Harvard University Archives. Syllabi, course outlines and Reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 2; Folder: “Syllabi, course outlines and reading lists in Economics, 1939-40”.

Categories
Chicago Columbia Cornell Harvard Johns Hopkins Statistics Wisconsin

Graduate Student Enrollments in Economics. Seligman’s Tally, 1909

Here we have a letter from the chairman of the Columbia University economics department, Edwin R. A. Seligman, to the chairman of the trustees of Columbia University, George L. Rives, boasting of the large market share of Columbia with respect to graduate education in economics and sociology. We’ve seen earlier (1900) that Seligman kept a jealous eye on Columbia’s competition.

_____________________________________

[carbon copy of letter Seligman to Rives]

No. 324 West 86 street
New York, February 13, 1909

My dear Sir:

You may be interested in the enclosed statistics which have been compiled by me from answers to questions sent out to the various universities. It shows the relative position of Columbia compared to its six leading competitors, and it is a curious coincidence that the totals of Columbia on the one hand, and of the six universities together on the other, should be precisely the same.

Faithfully yours,

Edwin R. A. Seligman

(Enclosure)

 

To Mr. George L. Rives,
New York City

_____________________________________

STUDENTS WITH DEGREES ENROLLED IN
GRADUATE COURSES, Dec. 1909

 

Economics Sociology Total of Economics and Sociology
Harvard

27

 —

27
Yale

16

 12

28
Cornell

10

 4

14
Johns-Hopkins

12*

 —

12*
Chicago

12

 19

31
Wisconsin

22

 4

26
Total in the 6 universities

99

 39

138
Columbia

67

 71

138

*including duplications

 

Source: Columbia University Archives. Central Files 1890-, Box 338. Folder: “Seligman, Edwin Robert Anderson. 1.1.110 2/5”

Image Source: Universities and their Sons, Vol. 2 (1899), pp. 485.

Categories
Harvard

Harvard. Labor Economics, Social Policy. Willoughby, 1901

When Professor Edward Cummings of Harvard resigned his post in the summer of 1900, Harvard turned to the government economist William Franklin Willoughby who had published numerous pieces on labor issues and social welfare policies (several papers in the Quarterly Journal of Economics) to cover Cummings’ labor class for second semester of 1900-01. A second social policy course (Provident Institutions) was offered by Willoughby as well.

____________________________________

[Willoughby’s c.v.]

William Franklin Willoughby (1867-1960), A. B. Johns Hopkins University 1888. He…

“served as statistical expert for U. S. Department of Labor; member of International Jury of Awards, Paris Exposition of 1900; instructor of economics at Harvard, 1901; treasurer, secretary, and president of Executive Council of Puerto Rico, 1901-1909; assistant director of U. S. Census, 1910; member of U. S. Commission on Economy and Efficiency in Government; McCormick professor of Jurisprudence at Princeton, 1912[-17]; deputy legal advisor to president of China, 1914-1916; director of Institute for Government Research, 1916-1932; and consultant to the Library of Congress, 1940-1944.”

Source:   Manuscripts and Rare Books Department, Swem Library, The College of William and Mary in Virginia. William F. Willoughby Papers, Finding Aid.

____________________________________

[Early “Brookings” connection]

“William F. Willoughby, a Johns Hopkins University graduate statistician and one of the early directors of the [Institute for Government Research in Washington, D.C., that later merged with the Institute of Economics and the Robert Brookings Graduate School of Economics and Government to form the Brookings Institution in 1927], helped the institute play an important role in the crafting of the 1921 legislation that led to the creation of the first U.S. Bureau of the Budget, the predecessor of the Office of Management and Budget.”

Source: “Brookings Institution”, Encyclopedia Britannica, and Donald E. Abelson, Capitol Ideas: Think Tanks and U.S. Foreign Policy (2006).

____________________________________

[Course Announcements]

ADDITIONAL ANNOUNCEMENTS ON COURSES IN ECONOMICS

Course 9 will be given in 1900-01 as a half-course only, by Mr. W. F. Willoughby, on Tu., Th., Sat., at 10 (second half-year).

There will also be given in 1900-01:—

9a. Provident Institutions—Workingmen’s Insurance, Friendly Societies, Savings Banks. Half course (second half-year). Mon., Wed., Fri. at 9. Mr. W. F. Willoughby.

In this course various institutions will be examined for providing aid to workingmen or their families in case of sickness, infirmity, old age, or death. Among the subjects covered will be the system of compulsory workingmen’s insurance in Germany, and the systems on the same principle in other countries of the Continent; the French and English legislation for compulsory insurance in case of accident; the voluntary Friendly Societies organized by workmen in various countries; Savings Banks, postal and ordinary; and People’s Banks and Building and Loan Associations. The problem of the unemployed and the efforts for its solution or mitigation will also be considered.

Source: From a note printed on a separate piece of paper included with first edition of the Announcement of the Courses of Instruction of Harvard University. The course was included in Announcement of the Courses of Instruction Provided by the Faculty of Arts and Sciences for the Academic Year 1900-01 (second edition).  Cambridge, Massachusetts: 1900, p. 42.

____________________________________

[Course Enrollments]

[Economics] 92 hf. Mr. W. F. WILLOUGHBY. —The Labor Question in Europe and the United States. The Social and Economic Condition of Workingmen.

3 Graduates, 53 Seniors, 40 Juniors, 35 Sophomores, 3 Freshmen , 12 Other: Total 146.

 

[Economics] 9a2 hf. Mr. W. F. WILLOUGHBY.—Provident Institutions. Workingmen’s Insurance, Friendly Societies, Savings Banks.

1 Graduate, 13 Seniors, 5 Juniors, 2 Sophomores, 1 Other: Total 22.

 

Source: Harvard University. Annual report of the President and reports of the departments, 1900-01, p. 64.

____________________________________

 

ECONOMICS 9
THE LABOR QUESTION IN EUROPE AND THE UNITED STATES

TOPICS AND REFERENCES

[Books marked * reading required.]

 

I.—Methods of Industrial Remuneration

*1. Schloss: Methods of Industrial Remuneration (to be purchased).
*2. Gilman: Profit Sharing
*3. Gilman: A Dividend to Labor, Parts I and III.
*4. Monroe: Profit Sharing in the United States. (American Journal of Sociology, May, 1896.)
*5. W. J. Ashley: Coöperative Production in England. (In Surveys, Historic and Economic.)
*6. Gide: Productive Coöperation in France. (Quarterly Journal of Economics, November, 1899)
7. Acland and Jones: Workingmen Coöperators.
8. Beatrice Potter: The Coöperative Movement in Great Britain.
9. Holyoake: The Cooperative Movement of To-day.
10. H. D. Lloyd: Labor Copartnership.
11. Benjamin Jones: Coöperative Production.
12. Gide: Has Coöperation Introduced a New Principle into Economics? (Economic Journal, December, 1898.)
13. History of Coöperation in the United States. (Johns Hopkins University Studies, VI.)
14. Reports of British Labor Department on—

(a) Profit Sharing, by D. F. Schloss.

(b) Gain Sharing, by D. F. Schloss.

(c) Standard Piece Rates and Sliding Scales, 1900.

(d) Coöperative Contracts, by D. F. Schloss.

 

II.—Organization of Industry

1. Hobson: Evolution of Modern Capitalism, Chaps. IV and V.
2. Wright: The Factory System. (U. S. Tenth Census.)
*3. Wright: The Factory System as an Element in Civilization. (In Rand’s Economic History.)
*4. Willoughby: The Concentration of Industry in the United States. (Yale Review, May, 1898.)
5. Willoughby: The Regulation of the Sweating System. (Economic Monographs, U.S. Commission to Paris Exposition, 1900.)
6. Jenks: The Trust Problem.
7. Ely: Trusts and Monopolies.

 

 

III.—The Organization of Employers and Employees

1. Sidney and Beatrice Webb: The History of Trade Unionism.
2. Sidney and Beatrice Webb: Industrial Democracy.
3. Howell: Conflicts of Labor and Capital.
*4. Trade Unionism, Old and New (to be purchased).
5. Hollander: A Study of Trade Unionism. (Political Science Quarterly, December, 1898.)
*6. Cummings: A Collectivist Philosophy of Trade Unionism. (Quarterly Journal of Economics, January, 1899.)
7. Wright: An Historical Sketch of the Knights of Labor. (Quarterly Journal of Economics, Vol. I, No. 2.)
*8. Aldrich: The American Federation of Labor. (Economic Studies, American Economic Association, August, 1898.)
9. Burke: History and Function of Central Labor Unions. (Columbia Studies, 1900.)
10. Sidney and Beatrice Webb: Trade Union Democracy. (Political Science Quarterly, September and December, 1896.)
*11. Wright: Industrial Evolution of the United States, Chaps. XVIII-XX.
12. De Rousiers: The Labor Question in Britain.
13. McNeill: The Labor Movement.
14. Great Britain Labor Department: Annual Reports on Trades Unions.

 

IV.—Industrial Disputes: their Prevention and Settlement

1. U. S. Department of Labor: Reports on Strikes and Lockouts.
2. U. S. Department of Labor: Bulletins. (See digests of foreign statistical reports for statistics of strikes in European countries.)
3. Great Britain Labor Department: Annual Reports on Strikes.
4. U. S. Strike Commission, 1894: Report.
*5. Industrial Evolution of the United States, Chaps. XXIV-XXVI.
6. Wright: Industrial Conciliation and Arbitration, 1881.
7. Josephine Lowell: Industrial Arbitration and Conciliation.
8. T. A. Carroll: Conciliation and Arbitration in the Boot and Shoe Industry. (Bulletin, U. S. Depart. of Labor, No. 8.)
9. J. B. McPherson: Voluntary Conciliation and Arbitration in Great Britain. (Bulletin, U. S. Depart. of Labor, No. 28.)
10. Edward Cummings: Action under Labor Arbitration Acts. (Quarterly Journal of Economics, July, 1887.)
*11. Edward Cummings: Industrial Arbitration in the United States. (Quarterly Journal of Economics, July, 1895.)
*12. S. N. D. North: Industrial Arbitration; its Methods and its Limitations. (Quarterly Journal of Economics, July, 1896.)
*13. F. J. Stimson: The National Arbitration Law. (International Journal of Ethics, July, 1898.)
14. Willoughby: Industrial Arbitration and Conciliation. (Economic Monographs, U. S. Com. to Paris Exposition, 1900.)

 

V.—Stability of Employment

1. Great Britain Labor Department: Report on Agencies and Methods for Dealing with the Unemployed, 1893.
2. Massachusetts Board: Report of the Massachusetts Board to Investigate the Subject of the Unemployed, 1895.
3. Geoffrey Drage: The Unemployed, 1894.
4. Hobson: The Problem of the Unemployed, 1896.
5. Great Britain Labor Depart.: Annual Reports on Trade Unions.
*6. Willoughby: Employment Bureaus. (Economic Monographs, U. S. Commission to Paris Exposition, 1900.)
*7. Bogart: Public Employment Offices in the United States and Germany. (Quarterly Journal of Economics, May, 1900.)
8. Mavor: German Labor Colonies and the Unemployed. (Journal of Political Economy, December, 1893.)
9. Peabody: The German Labor Colonies. (Forum, Feb., 1892.)
10. Gore: The Poor Colonies of Holland. (Bulletin, U. S. Department of Labor, No. 2.)

 

VI.—The State in Relation to Labor

*1. Jevons: The State in Relation to Labor.
2. Brentano: The Relation of Labor to the Law of To-day.
3. Stimson: Labor in its Relation to Law.
*4. Stimson: Handbook to the Labor Law of the United States.
5. Willoughby: Foreign Labor Laws. (Bulletin, U. S. Department of Labor, Nos. 25-28, 30, 33.)
*6. Willoughby: State Activities in Relation to Labor in the United States. (Johns Hopkins University Studies, 1901.)
7. Willoughby: Accidents to Labor as Regulated by Law in the United States. (Bulletin, U. S. Depart. of Labor, No. 32.)

 

VII.—The Coöperative Movement

*1. Beatrice Potter: The Coöperative Movement in Great Britain (to be purchased).
2. Holyoake: The Coöperative Movement of To-day.
*3. Edward Cummings: Coöperative Stores in the United States. (Quarterly Journal of Economics, April, 1897.)
*4. Edward W. Bemis: Coöperative Distribution in the United States. (Bulletin, U. S. Department of Labor, No. 6.)
5. Report of First Annual Congress of the International Coöperative Alliance, London, 1896.
6. Henry Wolff: Peoples’ Banks.
7. Dexter: Coöperative   Savings and Loan Associations.
*8. Dexter: Coöperative Savings and Loan Associations. (Quarterly Journal of Economics, April, 1889.)
9. U. S. Department of Labor: Report on Building and Loan Associations.
*10. Willoughby: Building and Loan Associations in the United States. (Economic Monographs, U. S. Commission to Paris Exposition, 1900.)

 

VIII.—Provident Institutions

*1. Willoughby: Workingmen’s Insurance (to be purchased).
*2. Willoughby: The French Workmen’s Compensation Act. (Quarterly Journal of Economics, July, 1898.)
*3. Willoughby: The Belgian General Savings and Old-Age Pension Bank. (Journal of Political Economy, March, 1900.)
*4. Brabrock: Provident Institutions and Industrial Welfare.
5. U. S. Department of Labor: Report on Compulsory Insurance in Germany, by J. G. Brooks.
6. New York Bureau of Labor: Annual Report, 1899, Part 2, The Compensation of Accidental Injuries to Workingmen.
7. Great Britain Labor Department: Report on Provision for Old Age by Government Action in certain European Countries, 1899.
8. Wilkinson: The Friendly Society Movement.
9. Emory Johnson: Brotherhood Relief and Insurance of Railway Employees. (Bulletin, U. S. Department of Labor, No. 17.)
10. Edward W. Bemis: Benefit Features of American Trade Unions. (Bulletin, U. S. Department of Labor, No. 22.)
11. Hoffman: History of the Prudential Insurance Company of America.

 

IX.—Housing of the Working Classes

1. U. S. Department of Labor: Report on the Housing of the Working Classes, by E. R. L. Gould.
2. New York Tenement House Committee: Report.
*3. Willoughby: The Modern Movement for the Housing of the Working Classes in France. (Yale Review, November, 1899.)
4. Reynolds: The Housing of the Poor in American Cities. (Pub. American Economic Association, VIII, Nos. 2,3.)

 

X.—Socialism and Communism

1. Kirkup: History of Socialism.
2. Rae: Socialism of To-day. [sic, Contemporary Socialism is the correct title]
3. Webb: Socialism in England.
4. Nordhoff: Communistic Societies in America.
5. François: Socialism in France. (Journal of Political Economy, December, 1898.)
6. Schmidt: The Present Condition of Social Democracy in Germany. (Journal of Political Economy, September, 1898.)
7. Russell: German Social Democracy.

 

____________________________________

 

ECONOMICS 9
WRITTEN EXERCISE

  1. What is the attitude of the trade-union movement towards the wages system?
    In this respect how is it essentially different from socialism or the coöperative movement as a method of social reform?
  2. At about what date did trade unions begin to be formed in Great Britain?
    Show why, in view of existing industrial conditions, trade unions were not formed at an earlier date, and why the rise of the modern industrial system has led to the constant development of these unions.
  3. Divide the history of trade unions in Great Britain into periods, and give the characteristic features of each.
  4. What general organization or federation of trade unions are there now in Great Britain and the general character of each?
  5. Enumerate some of the principal events in the history of trade unions in the United States.
  6. Contrast the Knights of Labor and the American Federation of Labor as regards their scheme of organization, objects and means of action.
  7. Describe the existing forms of trade union organizations: the Local Union, National Trade Union, Central Labor Union or City Trades Council, State Federation, and American Federation of Labor so as to show the relations existing between them.
    Show also why there is need for these various kinds of organizations, and why they do not conflict one with the other.
  8. Explain why the national trade union is the unit of government rather than the local union.
    Show the severe of action of the American Federation of Labor, its power over the national trade unions and the service performed by it in bringing about unity and harmony in the labor movement.
    Why does the Federation permit the affiliation of “local trade unions” and “federal unions”?
  9. Show why the primary form of organization must be by trades rather than by districts, and subsequent union be by federation rather than amalgamation.
  10. What are the essential aims of the trade unions as regards (a) the method of making the labor contract, and (b) the terms of the labor contract.
  11. What is meant by the standard rate? Show how this principle in connection with collective bargaining once determined upon must logically be extended so as to mean the fixing of a standard rate for the trade of the whole country by means of a joint bargain between the national associations of the employers and employees.
    In what trades has this condition been reached within the past year in this country?
  12. Explain how the benefit feature of trade unions is an element of strength to the unions in their strictly trade action, as well as a device for mutual assistance.
  13. Give the reasoning according to which the unionists maintain that under modern conditions collective bargaining preserves the freedom of contract better than individual bargaining.
    Give the employer’s reasons for insisting upon bargaining with his employees individually.
  14. What effect does a standard rate have upon the question of incentive to work on the part of individuals and of industrial efficiency generally?
  15. What are the means of action of trade unions in enforcing their demands?
  16. Explain the essential difference between conciliation, mediation, and arbitration.
  17. Show the importance of distinguishing between disputes involving (1) the interpretation and enforcement of labor contracts and (2) the making of new contracts. Especially show why arbitration is a principle that can properly be invoked as regards the first class, but it should only be the last resort as regards the second.
  18. In what ways has the state in Europe and the United States intervened for the prevention or adjustment of labor disputes?
    Show why its action has in all cases been productive of so little result.
  19. Show how collective bargaining in practical operation necessitates the constitution of joint boards of conciliation, and therefore offers a very effective means for avoiding and settling industrial disputes.
  20. What are some of the most important respects in which the trade union movement in Europe is different from the trade union movement in Great Britain and the United States?

____________________________________

 

ECONOMICS 9a
PROVIDENT INSTITUTIONS

TOPICS AND REFERENCES

[Books marked * reading required.]

1. Willoughby:

*Workingmen’s Insurance (to be purchased).
*The French Workmen’s Compensation Act. (Quarterly Journal of Economics, July, 1898.)
*The General Savings and Old-Age Pension Bank of Belgium. (Journal of Political Economy, March, 1900.)
*Building and Loan Associations. (Economic Monographs. U. S. Commission to Paris Exposition, 1900.)
*2. Brabrock: Provident Institutions and Industrial Welfare.
*3. Wolff: Peoples’ Banks.
*4. Wilkinson: The Friendly Society Movement.
*5. Dexter: Coöperative Savings and Loan Associations. (Quarterly Journal of Economics, III-3.)
*6. Bemis: Benefit Features of American Trade Unions. (Bulletin U. S. Department of Labor, No. 22.)
*7. Fiske: Industrial Insurance. (Charities Review, March, 1898.)
*8. Johnson: Brotherhood Relief and Insurance of Railway Employees. (Bulletin U. S. Department of Labor, No. 17.)
9. Transactions of Second International Actuarial Congress, London, 1898.
10. U. S. Department of Labor: Report on Compulsory Insurance in Germany, by J. G. Brooks.

Report on Building and Loan Associations.
11. National Fraternal Congress (U. S.): Reports of Annual Meetings.
12. New York Bureau of Labor: Annual Report, 1899, Part II.

The Compensation of Accidental Injuries to Workingmen.
13. Great Britain Labor Department: Report on Provision for Old Age by Government Action in certain European Countries.
14. Hoffman: History of the Prudential Insurance Company of America.
15. Baernreither: English Associations of Workingmen.
16. Dexter: Coöperative   Savings and Loan Associations.
17. Dr. Zacher: Die Arbeiter-Versicherung im Auslande.

[Other reading will be assigned later.]

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003 (HUC 8522.2.1), Box 1, Folder “Economics, 1900-1901”.

Image Source: The Washington Times, 28 March 1911.

 

 

Categories
Economists Harvard

Harvard. Larry Summers Interview on American Universities, 2016.

Love him or hate him, this ex-Harvard president (etc, etc) has a keen eye for “what could possibly go wrong with that?” The entire interview ranges from the current campus controversies regarding “safe-spaces” and “micro-agressions” through boycotts of Israel and Reserve Officers’ Training Corps (ROTC). For Economics in the Rear-View Mirror the following observations are of interest, especially the recent (hey, this is a history blog after all!) stagnation in the institutional morphing of academic disciplines as academic departments.

________________________

…I think American higher education is the envy of the world, but if it has a flaw, it is that it changes and evolves too slowly. That, because of traditions of faculty governance, it has the dynamism, or lack of dynamism, that economists traditionally establish, or attribute, to workers’ collectives. And, you know, why should it be that in the 35 years, in 35 years there was not a single change in the departmental structure of the Faculty of Arts and Sciences at Harvard University? Could one imagine such a thing in 6 almost any other major institution in society? And so I think that this privileging of comfort is a threat to the ability to keep up with the demands of a rapidly changing society….

…Median age of the Harvard professoriate – those who are tenured professors – is only slightly younger than I am, and I am 61. And that seems wildly inappropriate. And if you compare it with almost any other human institution – any great law firm, any great management team, any great company, the physicians at any great hospital, even the senior officials of the US government – it looks very old. And then you ask yourself, what is it that’s special about a university? Well, the key job of a faculty member is working with people between the ages of 18 and 25, and the other key responsibility is to have bold new ideas. So you would think, if anything, there probably are arguments for university faculty for being younger than other institutions, not substantially older, and so I think that lifetime security, that tendency towards an aged faculty – you know, Harvard has more professors over the age of 80 than it does under the age of 40 – seems to me to be something that is quite damaging in terms of the ability of universities to keep up….

Source: Conversations with Bill Kristol (transcript).  Podcast.

Categories
Columbia Fields Harvard Suggested Reading

Harvard. Reading List in Public Finance. Bullock and Burbank, 1934.

In an earlier posting I posted the public finance reading list for the Ph.D. field exam in public finance prepared some time during the fall semester 1933-34 which was in a Harvard economics department folder along with reading lists for other fields (railroads, corporations, and banking). In this posting we find the identical reading list along with a cover letter from Professor Charles Bullock of Harvard to Prof. Haig, the public finance expert, at Columbia asking for comments. I have added Haig’s suggestions for deletions and additions in blue-boldface.

___________________________________

[Bullock to Haig, 15 January 1934]

HARVARD UNIVERSITY
DEPARTMENT OF ECONOMICS

CAMBRIDGE, MASSACHUSETTS
January 15, 1934

Prof. R. M. Haig
Columbia University
New York City

My dear Haig:

Burbank and I have been conferring recently about the reading that ought to be done by our graduate students who offer public finance as their special field for the doctorate. After considering books and the results students apparently get from reading them, we have got up the enclosed list. If you would be interested in reading it and commented commenting upon it, I should be greatly indebted to you.

In particular I would be glad to have you note any books which you have found useful for your students but which we have omitted.

Some of the books we list, like Miss Comstock’s “Taxation in the Modern State”, are pretty light-weight affairs; but they have some information in them which students can’t readily get elsewhere; also, of course, some misinformation.

If there are any books listed here that you would strike out, I should be very glad if you would indicate deletions.

Another question is that of the division of the books into the three groups. The first group mostly is intended to give the general approach, though the last thing in it, the Colwyn Report, is put there because Burbank has found it extremely useful with his students. Mine have not found it so useful; and I would have preferred to put that title in Group II.

I would be glad to have your comments also on the amount of reading. I am inclined to think the requirement of all the books in Group I, six or eight books in Group II, and three or four books in Group III is excessive; but the first two titles in Group I are really read in class. Do you think the total amount of reading excessive?

For your convenience I am sending along two copies, so that you can jot down in lead pencil on one of them additions, deletions, criticisms, and any other comment, and then mail the damned thing back to me without even going to the trouble of dictating a letter. In the present state of the literature in public finance, I have found it very difficult to know what to do; and so has Burbank. Perhaps you may be sufficiently in the same frame of mind so that you will not find this polite request I make too much of an imposition!

Yours sincerely,

[signed]

Charles J. Bullock

 

CJB/AMB

___________________________________

Readings in Public Finance for General and Special Examinations

Students preparing for the special examination in public finance should read all the references listed under I. In II the student should read a substantial portion of six or eight books, selecting topics which he considers of most interest and value to him. In III the student should read a substantial portion of three or four of the books listed, again following his own requirements or interests.

 

I. Required Reading

A. Smith Wealth of Nations, Book 5
J. S. Mill Principles of Political Economy, Book 5, ch. 1-8
C. F. Bastable Public Finance (3rd edition). Read pages: 1-149; 153-257; 261-421; 425-442; 443-464; 465-468; 469-494; 504-573; 611-711.
H. L. Lutz Public Finance
C. J. Bullock Selected Readings in Public Finance (3rd edition). Read pages: 1-51; 76-147; 156-268; 278-379; 445-490; 533-607; 755-902; 921-982
A. Wagner Finanzwissenschaft, Vol. II. Read all the coarse print; use judgment on the fine print.
P. Leroy-Beaulieu Traité des Finances, Vol. I (8th edition, 1912). Read pages: 1-10; 28-92; 92-133; 134-143; 172-249; 367-387; 394-437; 439-482; 483-517; 539-626; 626-703
[Haig note: Substitute Allix]
D. R. Dewey Financial History of the United States
The Colwyn Report Great Britain: Report of the Committee on National Debt and Taxation, 1927. Read pages: 73-244. (Cmd. 2800; Econ. 5389.27)

[Haig note: Add.—H. Dalton—Principles of Public Finance]

 

 

II. Reading Recommended

Mills and Starr Readings in Public Finance and Taxation. Read Pages: 41-150; 168-195; 205-264; 369-453; 482-607; 763-808
A. C. Pigou A Study in Public Finance
B. Moll Lehrbuch der Finanzwissenschaft (1930)
[Haig note: I was surprised by the low rating given Moll’s Lehrbuch by his German colleagues]
E. Allix

 

 Traité élementaire de Science des Finances (6th edition, 1931). Read pages: 1-81; 151-204; 216-256; 285-312; 341-382; 437-573; 870-902; 910-958; 1011-1050;1091-1134.
L. Suret Théorie de l’Impôt progressif
[Haig note: Subsitute Seligman]
J. Stamp Fundamental Principles of Taxation
T. G. Shearman Natural Taxation
[Haig note: “?” (a question mark)]
H. L. Lutz State Tax Commissions
S. Leland The Classified Property Tax
A. L. Harding Double Taxation of Property and Income
E. Cannan History of Local Rates
A. F. Macdonald Federal Aid
J. W. Grice National and Local Finance
A. E. Buck Municipal Finance
The May Report Great Britain: Report of the Committee on National Expenditure, 1931 (Cmd. 3290; Econ. 5389.31)
National Tax Association Proceedings, 1933, Report of Committee on Model System of State and Local Taxation

 

 

III. Other Reading

G. F. Shirras Science of Public Finance
[Haig note: Elim. in view of incl. of Bastable]
E. R. A. Seligman Progressive Taxation
——————— Essays in Taxation
——————— Income Tax (chapters on Great Britain, Germany, France, U.S.A.)
——————— Shifting and Incidence of Taxation
H. A. Silverman Taxation, Its Incidence and Effects
A. Comstock Taxation in the Modern State
J. P. Jensen Property Taxation in the United States
W. G. Schultz Taxation of Inheritances
R. G. Blakey Taxation in Minnesota
[Haig note: Eliminate]
R. M. Haig The Taxation of Excess Profits in Great Britain
National Industrial Conference Board General Sales or Turnover Taxation
National Industrial Conference Board Sales Tax
A. G. Buehler General Sales Taxes
[Haig note: Substitute C. Shoup: Sales Tax in France]
R. Magill, editor Lectures on Taxation
R. Stourm The Budget
W. F. Willoughby The National Budget System
H. S. Adams
[Haig note: “C” (i.e. not S.)]		 Public Debts
M. L. Walker Municipal Expenditure
Britain’s Industrial Future, pp. 426-447.
H.U. Library, Econ 6069.28.5
Joseph Sykes British Public Expenditures, 1921-1931
Report of New York Commission for Revision of the Tax Laws, 1932, Part III.

[Haig note:  Add.

W. F. Willoughby. The Financial Condition and Operations of the National Government.
H. C. Adams, Science of Finance.
H. Higgs. The Financial System of the UK.
Taxation of Foreign and National Enterprises. Fiscal Commission, League of Nations.]

 

Source:   Columbia University Libraries, Manuscript Collections. R. M. Haig Collection, Box 15, “Lecture Notes”; Folder, “Reading—Suggestions—Econ.101”.

Image Source:  Harvard Album 1932.

Categories
Economists Harvard

Harvard. Graduates’ Magazine reports on Economics Dept. 1892-1904.

The Harvard Graduates’ Magazine. Vol. 1, October, 1892, pp. 116-117.

ECONOMICS.

Ten years ago, the Department of Political Economy had one professor and one instructor, neither giving all of his time to the subject. At present, the Department of Economics has three professors and two instructors. The change in name, from Political Economy to Economics, indicates of itself an enlargement of the range of subjects. The number of courses offered has grown from two to a dozen, with a corresponding development in the variety of topics treated. The increase in the number of students is indicated by the fact that the first course, introductory to the rest, which was taken ten years ago by perhaps fifty students, now has over three hundred. This striking development is significant of the rapid increase in the attention given to economic problems by the public and by our institutions of learning. The staff now consists of Professors Dunbar, Taussig, and Ashley, and Messrs. Cummings and Cole. Professor Ashley enters upon his duties for the first time this autumn, his chair being a newly created one of Economic History. Professor Dunbar continues to edit the Quarterly Journal of Economics, which was established by the University in 1886 with the aid of a fund contributed by John Eliot Thayer, ’85, and which has an established position among the important periodicals on economic subjects. The Department has recently done service to economic students by a reprint, under Professor Dunbar’s care, of Cantillon’s Essai sur le Commerce, a rare volume of importance in the history of economic theory; and it has now in press a volume of State Papers and Speeches on the Tariff, meant to aid students of the tariff history of the United States. For its growth in the past the Department has depended wholly on the expenditure by the Corporation of unpledged resources. No doubt the increasing sense of the importance of economic study will in time change the situation in this regard, and will make this department as attractive for benefactors as those which are older and more familiar.

F. W. Taussig, 79.

 

 _____________________________

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 576.

[Birth of a semester system, emphasis added]

The elective pamphlet announcing the courses to be offered in 1893-94 by the Faculty of Arts and Sciences contains few striking changes. There is a tendency manifested in it to increase the number of half-courses beginning or ending in February, at the time of the mid-year examinations. Thus History 12 is split into two halves, the first half being on the recent history of Continental Europe, and the second half on the recent constitutional history of England; Economics 7 is cut in two, and Economics 12 is established as two half-courses, one on International Payments and the Flow of Precious Metals, and the other on Banking and the History of the Banking Systems. Other examples might be given to emphasize the drift towards something akin to a division of the year into two semesters, particularly for the convenience of graduate students. 

_____________________________

The Harvard Graduates’ Magazine. Vol. 1, July, 1893, p. 590.

ECONOMICS.

In the department of Economics several new courses are offered for 1893-94. Professor Dunbar offers two half-courses, one on international payments and the flow of the precious metals from country to country, the other on banks and the leading banking systems. The two half-courses come at the same hours in the first and second half-years, and, when taken together, form a convenient full course running through the year. This new course will alternate with Course 7, on taxation and finance, which is to be omitted in 1893-94, and will be resumed in 1894-95. — Professor Ashley offers a course on Economic History, from the Middle Ages to modern times, which will take the place of the former Course 4, on the economic history of Europe and America since the middle of the eighteenth century. The new course covers a longer period than was covered in Course 4, and will supplement effectively the instruction in history as well as in economics. Professor Ashley also offers a new half-course, intended mainly for advanced and graduate students, on land tenure and agrarian conditions in Europe. — Professor Cummings offers a half-course, also intended for advanced students, on schemes for social reconstruction from Plato’s Republic to the present time, including the proposals of Bellamy and Hertzka. The course is meant to give opportunity for the discussion of social and political institutions and of socialist theories. — Economics 1, the introductory course in the department, will be remodeled in part in the coming year. A somewhat larger proportion of the exercises will take the form of lectures to all members of the course. Professor Taussig will lecture on distribution and on financial subjects, Professor Ashley on economic development, Professor Cummings on social questions.

F. W. Taussig, ’79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 3, March, 1895, pp. 383-384.

ECONOMICS.

The matter that has of late most engaged the attention of the Department has been the welcome and yet embarrassing growth in the number of students taking the introductory course known as Economics 1. This has risen from 179 in 1889-90 to 201 in ’90-91, 288 in ’91-92, 322 in ’92-93, 340 in ’93-94, until in the present year it is 398. Such an increase necessarily raises grave questions both of educational method and of academic discipline. Those professors to whose labors in past years the success of the course has been due are still of opinion that the recitation method, in its best form, — the discussion day after day and chapter by chapter of some great treatise like the work of John Stuart Mill, — furnishes a mental training such as no other plan can provide. But for its successful practice it is necessary either that the class should be quite small, or that, if divided, the sections should be few and small. Accordingly it became evident that some modification of plan was necessary; and last year the arrangement was hit upon of retaining the section work for the greater part of the year, but diversifying it with three months of set lectures at different periods by Professors Taussig, Ashley, and Cummings. The experiment was so satisfactory that it has been repeated this year; and, in the absence of Professor Taussig, Professors Ashley and Cummings have each lectured for six weeks. If the numbers continue to grow, it may seem advisable in the future to take further steps in the same direction. But Upper Massachusetts, in spite of its historical associations, has abominable acoustic properties; the room in Boylston, which was suggested as an alternative, is redolent of Chemistry; and it may ultimately become necessary to invade the sacred precincts of Sanders Theatre. — In the absence of Professor Taussig upon his sabbatical, before referred to, his course on Economic Theory (Econ. 2) has been divided into two half-courses, and undertaken by Professor Ashley and Professor Macvane. Professor Macvane’s action will do something to break down that middle wall of partition between departments which is sometimes so curiously high and strong in this University of free electives. It need scarcely be added that to those who know how considerable have been Professor Macvane’s contributions to economic theory, and how great his reputation is with foreign economists, he seems altogether in place when he takes part in the economic instruction of Harvard University. — Professor Taussig’s course on Railway Transportation (Econ. 5) has been assigned for the present year to Mr. G. O. Virtue, ’92; his other courses have been suspended. — Mr. John Cummings, ’91, has returned, with a year’s experience as instructor and his doctorate, from the University of Chicago, and is now an Assistant in Econ. 1; he is also offering a new course on Comparative Poor Law and Administration. — The instructors in this, as in other Departments, find themselves increasingly hampered by the difficulty of providing the necessary books for the use of students. Oxford and Cambridge Universities, with hardly more students than Harvard, have libraries in every college, together with the Union libraries and the University libraries; here in Harvard, if an instructor in class mentions any but the best known of books, the chances are that there is only one copy in the place,— that in the University Library; and unless he has been provident enough to have that book “reserved,” some undergraduate promptly takes it out, and nobody else can see it. It is true that undergraduates ought to buy more books; but frequently there is not a copy to be had even in the Boston bookstores. It would certainly be a great relief if the societies could see their way to create, each for itself, a modest working library of a few hundred books. Meanwhile something may be done by strengthening the Departmental Library in University Hall. This, which owes its creation to the generosity of some of the members of the Class of 1879, is in urgent need of enlargement; and the professors in the Department will be glad to hear from any graduate whose eye this happens to catch. — Finally, it may be advisable to mention that, as the result of careful deliberation on the part of the members of the Division Committee, a detailed statement of requirements for the Degree of Doctor of Philosophy in Political Science was drawn up last spring, and will now be found at the end of the Division pamphlet This Statement is noteworthy in that it defines for the first time the “general” examination, and the examination on “a special field;” and also for the stress it lays upon “a broad basis of general culture ” as the foundation of specialist work. “A command of good English, spoken and written, the ability to make free use of French and German books, and a fair acquaintance with general history ” are mentioned as “of special importance.”

W. J. Ashley.

_____________________________

The Harvard Graduates’ Magazine. Vol. 4, December, 1895, pp. 242-243.

ECONOMICS.

The Department of Economics began its work for the year under unfortunate circumstances. Professor Dunbar, its honored head, was compelled by ill-health to withdraw from academic work for the year, and was given leave of absence by the Corporation. His withdrawal rendered necessary changes in the courses of instruction. Of those announced to be given by Professor Dunbar, course 7, on Financial Administration and Public Debts, was undertaken by Dr. John Cummings, and course 12, on Banking and the History of the Leading Banking Systems, by Professor Taussig. The additional work thus assumed by Professor Taussig was made possible through the aid of Professor Macvane, who will conduct during the second half-year that part of Economics 2 which had been announced to be given by Professor Taussig. Course 8, on the History of Financial Legislation in the United States, has been shifted to the second half-year, and will then be given by Dr. Joseph A. Hill, A. B. ’86, Ph. D. ’92. By this rearrangement all the courses originally announced will be given, and no diminution in the Department’s offering results from Professor Dunbar’s absence. — Another change has taken place, affecting course 1. The numbers in this introductory course have grown steadily of late years, and it is now taken annually by about 400 men. It had been the policy of the Department to conduct it not by lectures, but mainly by face to face discussion, in rooms of moderate size, the men being divided into sections for this purpose. As the numbers grew, however, it became more and more difficult to keep the sections at a manageable size, to find convenient rooms for them, and to secure efficient instructors. The alternative of lecturing to the men in one large room had long presented itself, but the probable educational advantages of instruction in smaller rooms by sections caused this alternative to be avoided. For the present year, however, the withdrawal of Professor Dunbar rendered some economizing of the force of the Department necessary, and it has been accordingly determined to try the lecture plan for the current year. All the members of the course meet in Upper Massachusetts, — a room which, by the way, proves reasonably well adapted for this use, — and there are given lectures by the various instructors who take part in the course. By way of testing their reading and securing for the instructors some evidence as to their attainments, a system of weekly written papers has been introduced. On a given day of each week the students write answers to questions bearing upon the work of that week and of previous weeks. These answers are examined and corrected, and serve as a means of estimating the diligence and attainments of the students. Whether this radical change of plan will prove to be advantageous remains to be decided by the year’s experience; but it indicates a change in the methods of college work which is making its way in all directions, and which presents new and difficult problems to instructors. — The Seminary in Economics opens the year with sixteen advanced students of good quality, and promises well. Two are Seniors in Harvard College; the remainder are members of the Graduate School. Four are candidates for the degree of Doctor of Philosophy at the close of the current year. The growth of the Seminary in numbers and the better organization of its work are part of the general advance of the Graduate School, which is now reaping the fruits of the marked gains it has made in recent years.

F. W. Taussig, 79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 7, March, 1899, pp. 427-8.

ECONOMICS.

Like other departments, that of Economics finds itself confronted with the problem of the best mode of dealing with large numbers of students in the courses much sought for, and especially in the general introductory course. Economics 1 is now regularly chosen by from 450 to 500 students. Well-nigh every undergraduate takes it at some stage of his college career, and the question of its numbers seems to be simply a question of the number of students in the College and Scientific School. This great demand for general training in the subject has imposed on the Department an obligation to make its instruction as stimulating and efficient as may be, and yet has made this task more difficult than ever before. Inevitably, the old method of dividing the course into sections for all of the instruction has been abandoned. Its place has been taken by a mixed method of lectures and oral exercises. Twice a week, lectures are given to the whole course in one large room. Upper Massachusetts, remodeled, reheated, and reseated, serves for these lectures, — not well, but not unendurably ill; there is great need, for the use of the large courses, of a new and well-equipped building. The lectures are largely in the nature of comment on assigned reading. The third hour in the week is then given to meetings in sections of moderate size, in which the lectures and the reading are subject to test and discussion. The course is divided into some fifteen sections, each of which meets its instructor once a week. At these exercises, a question is first answered in writing by each student, twenty minutes being allowed for this test; the remainder of the hour is used in oral discussion. Some continuous oversight of the work of students is thus secured, and opportunity is given for questions to them and from them. A not inconsiderable staff of instructors is necessary for the conduct of the sections, and a not inconsiderable expenditure by the Corporation for salaries; but some such counter-weight on the lecture system pure and simple is felt to be necessary. The Department has been fortunate in securing trained and competent instructors for this part of the work; and the new method, if not definitively adopted, is at least in the stage of promising experiment. — During the second half year of 1898-99, the place of Professor Ashley, who is absent on leave, is taken by Dr. Wm. Cunningham, of Trinity College (Cambridge, England). Dr. Cunningham and Professor Ashley are easily the leaders among English-speaking scholars on their subject, economic history; and the Department has cordially welcomed the arrangement by which the scholar from the Cambridge of England fills the place, for the time being, of the scholar of the American Cambridge. Dr. Cunningham gives two courses in the current half year, — one on Western Civilization in its Economic Aspects, Mediaeval and Modern, the other on the Industrial Revolution in England.

F. W. Taussig, ‘79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 8, December, 1899, p. 223.

ECONOMICS.

The Department finds, as usual, large numbers of students to deal with during the current year. In the introductory course, Economics 1, nearly 500 students are enrolled, and once again it appears that the University has no good lecture room adequate for the accommodation of such numbers. The system of instruction which has been in use in this course for several years is continued. For part of the time, lectures are given to all members of the course; for the remainder of the time, it is split into small sections for question and discussion. So long as lectures are given at all, there is little gain from splitting the course into two or more parallel courses, as has sometimes been proposed; but the absence of a good lecture room for the whole number makes the present situation trying. In its advanced courses, the Department has again the services of Prof. Ashley, who returns after a year’s leave of absence, and finds large numbers enrolled in his course on modern economic history. His advanced course, on the history and literature of economics to the close of the 18th century, also attracts a satisfactory number of mature students. Prof. Cummings omits for the year his course on the labor question; but compensation for this is found in Philosophy 5, a course having a similar range of subjects, which is again given by Prof. Peabody, who has returned from his year’s leave of absence. Professors Dunbar and Taussig give, without material change, the courses usually assigned to them. — The Department assumes some additional burden through a change in its plans for the publication of the Quarterly Journal of Economics. That journal, whose 14th volume begins with the opening issue of this year, is hereafter to appear in more ambitious form. Its size will be somewhat increased, the departments varied, and the elaborate bibliography of current publication will be strengthened. At the same time the price goes up from $2 to $3 a year, — a change which, it is hoped, can be carried out without a loss of subscribers.

F. W. Taussig, 79.

_____________________________

The Harvard Graduates’ Magazine. Vol. 10, December, 1901, pp. 261-2.

ECONOMICS.

An unusual number of changes have to be noted in this Department. Prof. Taussig’s leave of absence, and Prof. Ashley’s recent resignation, have made it necessary to call in several men from the outside to give instruction during the present year. Prof. Taussig’s work is provided for in part by Prof. C. J. Bullock, of Williams College, who is giving the courses on finance and taxation, — and in part by a redistribution of the work among the members of the regular teaching staff. Dr. Andrew has charge of Economics 1, and Dr. Sprague of Economics 6, on the Economic History of the United States. Prof. Ashley’s courses, as announced for the year, have been provided for as follows: Prof. Wm. Z. Ripley, of the Massachusetts Institute of Technology, is giving course 5 on Statistics, and is to give the latter half of course 17 on the Economic Organization and Resources of European Countries, Mr. Meyer having charge of it during the first half year. Dr. C. W. Mixter is giving course 15 on the History and Literature of Economics to the opening of the 19th century. In addition, Prof. Ripley is giving course 5a on Railway Economics. In the second half year, Mr. W. F. Willoughby is to give courses 9 and 9a on Problems of Labor. — The courses preparing for a business career have been extended somewhat. Mr. W. M. Cole continues his course on the Principles of Accounting, and Prof. Wambaugh his course on Insurance. In addition to these, Mr. Bruce Wyman is conducting a new course on the Principles of Law in their Application to Industrial Problems, using the case method as it has been developed in the Law School. The popularity of these courses, in spite of the unusual severity of the examinations, is some indication of their success, and suggests, at least, the practicability of still further extensions. While there is a tendency in some quarters to carry the idea of commercial education to extremes, it is to be noted that these courses neither pretend to take the place of business experience, nor to teach those things which can be learned better in a business office than in any institution of learning. Moreover the work is confined to a mastery of principles and not to the gaining of general information. — The number of students in the Department continues large, there being upward of 480 in course 1, and about 1100 in the Department as a whole, not excluding those counted more than once. The housing of Economics 1 continues to be a problem, as Upper Massachusetts is uncomfortably packed at each meeting. More difficult, however, is the problem of finding small rooms for the 11 sections into which this class is divided for discussion and consultation once each week. — The Board of Overseers have confirmed the appointment of Dr. A. P. Andrew, Dr. O. M. W. Sprague, and Mr. H. R. Meyer as instructors without limit of time. — The change from two dollars to three dollars per year in the subscription price of the Quarterly Journal of Economics has been followed by no diminution in the number of subscribers, and the hope of the editors that the Journal might be conducted on a somewhat more ambitious scale is being realized.

T. N. Carver.

_____________________________

The Harvard Graduates’ Magazine. Vol. 11, December, 1902, pp. 247-248.

ECONOMICS.

Prof. Taussig’s continued absence has occasioned some readjustment of work within the Department during the present year. Dr. A. P. Andrew has full charge of Course I, Dr. O. M. W. Sprague of Course 6, and Prof. T. N. Carver of Course 2, while Prof. Taussig’s course on Adam Smith and Ricardo has been combined with Dr. C. W. Mixter’s course on Selected Topics in the History of Economic Thought since Adam Smith. Prof. W. Z. Ripley, formerly of the Massachusetts Institute of Technology, has accepted a professorship in our Department, and is giving Course 9 on Problems of Labor and Industrial Organization, the first half of Course 3, on the Principles of Sociology, the second half of Course 17, on the Economic Organization and Resources of European Countries, and Course 4, on the Theory and Method of Statistics. Dr. E. F. Gay, who has spent several years in Europe investigating in the field of economic history, has accepted an instructorship here, and is giving Courses 10 and 11, on the Economic History of Mediaeval and Modern Europe.

The interest in the work of the Department continues to grow. Economics I has 542 students, as compared with about 480 at this time last year. Mr. Wyman’s course (21), on The Principles of Law in their Application to Economic Problems, now contains over 60 students, as compared with 38 last year. Other courses show no great variation one way or the other, except Prof. Ripley’s course in Statistics. The interest which is being revived in this too much neglected field promises well for the future of economic studies in Harvard.

The change in the hour of Economics I from Monday, Wednesday, and Friday, at 9, to Tuesday, Thursday, and Saturday, at 11, was necessary in order to find a suitable room. This makes it possible for a larger number of Freshmen to elect the course, since it no longer conflicts with History I. Whether this is going to prove advantageous or not remains to be seen. At present the policy is to discourage Freshmen from electing this course. If there should be a considerable increase in the number of men who complete the college course in three years, it may be advisable to allow some of the more mature members of the Freshman Class to take Economics I. In that case it will be necessary to increase the number of courses which are somewhat general in their scope. Thus the course on Economic Theory (2) might be made somewhat less special than it now is, and a new course covering the general field of Practical Economics might be started. In this way the evils of too early specialization might be avoided. However, no definite policy has as yet been decided upon.

The Department has secured the use of Room 24, University Hall, as headquarters. In this room the mail of the Department and of the Quarterly Journal of Economics will be received, and the exchanges will be available for immediate inspection. This room has also been fitted up with drawing tables and other apparatus necessary for practical work in statistics. It is the purpose to make it a statistical laboratory.

The accounts of the Quarterly Journal of Economics are satisfactory, and the subscription list is making slow but substantial gains.

T. N. Carver.

_____________________________

The Harvard Graduates’ Magazine. Vol. 11, June, 1903, pp. 560-562.

ECONOMICS.

An interesting comparison between the allied departments of History and Economics is shown below on the basis of the number of students electing such courses. Some of the novel problems entailed by the rapid growth of the very large courses are now being considered by both departments. This rapid growth in large courses, coupled with the increase in the number of highly specialized courses, is bound to make necessary a constant increase in the instructing staff, if full justice to the work is to be done. Among the new courses offered for next year are the following: Economics of Agriculture, by Prof. Carver; Corporation Finance, by Prof. Ripley; Outlines of Agrarian History, by Prof. Gay; and American Competition in Europe since 1873 and The Indirect Activities of the State in Australasia and in Europe, by Mr. Meyer. A general revision of the methods of the Seminary is also under consideration, although plans in that direction are not as yet completed,

 

1902-3. STUDENTS IN ECONOMICS.

ECONOMICS.

HISTORY.
1st half year 1st half year

Econ.

 5 60 Hist. 12a 93

“

 7b 21 “ 16a 151 244
“ 8a

100

 2d half year

“

 12a 10 Hist. 12b 79

“

 10 16 “ 16b

148
“ 18 45 252 “ 29 86

313
2d half year ½ course thro yr.

Econ.

 8b 152 Hist. 17 4

4

“

 11b

19

 Whole courses.

“

 12b 43 Hist. 1

506
“ 16 29 243 “ 3

6
½ course thro yr.

“

 4

7

Econ.

 4 15 15 “ 6

19
Whole courses.

“

 8

8

Econ.

 1 519 “ 9 36

“

 2 26 “ 10 188

“

 3 45 “ 11 67
“ 6 122 “ 13

214
“ 9 111 “ 15 13
“ 14 15 “ 20d

3

“

 17 9 “ 20e 12
“ 20 11 “ 21

1

“

 20a 5   “ 25

3

“

 21 60 “ 26 11

“

 22 6(?) Hist. of Relig. 2 50

1144
Deduct 50 given by another Faculty

1705

1655
________________________________________
Whole courses

11

 Whole courses

16
Half-courses

11

5 ½

 Half-courses

6

3
16 ½

19
Including 5 courses of over 100 students, of which 2 are half courses. Including 5 courses of over 100 students, of which 2 are half courses.

A prompt response to suggestions made to the committee on instruction in economics of the Board of Overseers, as to the needs of the Department, has been made by Mr. Arthur T. Lyman in the shape of a gift of $500, to be expended in the preparation of charts, maps, and other illustrative material. The courses in general descriptive economics, it was felt, can be very greatly improved by the use of such material. Chart cases had already been installed in the new department headquarters, but this will enable the services of an expert draftsman for commencing the preparation of a suitable collection.

Among the other needs of the Department expressed at this meeting was that of an adding and computing machine for use in connection with the courses in Finance and Statistics. It was felt that the so-called “Burroughs Adder,” so generally in use in banking houses and statistical offices, could be utilized to great advantage in the prosecution of original work. The cost of such a machine is approximately $350. It is also to be hoped in the course of time that a collection of illustrative material other than maps may be commenced. This would include, for example, samples of the leading raw materials whose classification enters into tariff discussions and debates, photographs of social and industrial establishments, and other material of this sort. Such a collection, within moderate limits, along the lines of the Philadelphia Commercial Museums, has already been begun at Dartmouth, Ann Arbor, and other places. It should be kept in mind as a possible department at Cambridge.

 

_____________________________

The Harvard Graduates’ Magazine. Vol. 12, December, 1903, p. 246.

ECONOMICS.

Prof. Taussig has returned after an absence of two years, entirely restored in health. His resumption of work completes the working corps in the department, enabling it to offer its full list of announced courses. The number of graduate students is considerably increased over the preceding years, and there is every prospect of a successful resumption of the regular work in all lines.

The November number of The World’s Work contains the first of a noteworthy series of articles by Prof. Carver upon agricultural conditions in the West. Prof. Carver made a tour of some hundreds of miles on horseback during the summer, principally in the corn belt. It is his intention to supplement this tour by similar observations in other parts of the country in the coming years. This issue of The World’s Work forms distinctively a Harvard number, containing also an article on The Progress of Labor Organizations, by Prof. Ripley.

Among the new courses announced for this year are several by Prof. Bullock, one upon “The History and Literature of Economics,” with an additional research course entitled “Studies in American Finance.” Prof. Gay’s course upon ” The German Economists” last year met with so cordial a response that it has been expanded to a full course, covering the French as well as the German authorities. Mr. H. R. Meyer, having re- signed as an instructor, will continue as a lecturer, giving two courses upon “American Competition in Europe since 1873” and “The Industrial Activities of the State in Australasia and in Europe.”

W. Z. Ripley.

_____________________________

The Harvard Graduates’ Magazine. Vol. 13, December, 1904, p. 278.

ECONOMICS.

Economics 1 opens with an enrolment of 491 students, and is again the largest elective course in College. Government 1 is a close second, with 481 students; History 1 has 436. The numbers in Economics 1 are distinctly less than last year, which doubtless reflects the decline in attendance in the College at large. More than half of the total are Sophomores (255) ; the Juniors number 102, and the Freshmen 73. The resort to these three courses shows how strong is the trend to ward instruction in subjects connected with political life, and how great is the need for careful teaching and careful organization. Economics 1 continues to be conducted on the system which has been in use for some years past, and has been followed also in Government 1 and History 1. Two hours of lectures are given each week; for the third hour the course is divided into sections, in which there is a weekly examination, coupled with oral discussion of the subjects taken up during the week. Five assistant instructors conduct these sections, and the system seems to solve the problem of large courses satisfactorily.

In line with the policy adopted last year in the Department of paralleling the various undergraduate courses with advanced courses for graduate students, involving more or less research in each special field, Prof. Andrew is this year giving an advanced course upon the theories of crises, as a continuation of his larger course upon crises and cycles of trade.

An experiment intended to deal with the increasing difficulty of giving required reading to constantly enlarging classes will be tried in Economics 9b, through the publication of a casebook in economics similar to those in use in the Law School. The plan is to reprint official documents and detailed descriptions of particular phases of corporate economics, leaving to the lectures the task of supplying the connecting links and of tracing the development of the subject as an organic whole.

A valuable collection of charts of railway mortgages has recently been acquired through the generosity of graduates. These charts, prepared for the different railway systems, illustrate the exact character and situs of the securities. The collection of other charts and diagrams, made possible through the generosity of Mr. Arthur T. Lyman, is also making progress.

Source:  See the listings for the Harvard Graduates’ Magazine at Hathitrust. These are some of the items found using the index for the first twenty volumes.

Categories
Courses Harvard Syllabus

Harvard. O.H. Taylor’s undergraduate course, Intellectual Background of Economic Thought, 1941

 

 

Starting in the academic year 1940-41, Harvard’s advanced undergraduate honors course in economic theory (Economics 1) was split into two semester courses Economics 1a (Chamberlin: Economic Theory) and 1b (This post. Taylor: Intellectual Background of Economic Thought). The last time Economics 1 was offered as a year course (1939-40), it was taught by Professor Chamberlin, Associate Professor Leontief and Instructor O.H. Taylor. Two years later, 1941-42, the second semester course 1b was taught by Professor Haberler and Associate Professor Leontief under the title “Theory of Production and Distribution of the National Income”. In 1942-43, Economics 1b as “Theory of Production and Distribution of the National Income” was taught a last time by Professor Leontief and Dr. Monroe.

Only for the second semester of 1940-41 was Dr. Overton Hume Taylor to offer Economics 1b according to the syllabus transcribed for this posting. Not a mover and shaker within the Harvard economics department, he was clearly a serious scholar-economist, though out of step with the economics profession of his day. Most historians of economics will recognize a soulmate in Taylor.

Overton Hume Taylor (1897-1987) was born in Colorado, received his B.A. at the University of Colorado in 1921 and Ph.D. from Harvard in 1928. He held the rank of instructor 1929-1960, promoted to professor, 1960-64. He retired from Harvard in 1964, going on to teach at Vanderbilt University.

Here is a link to Taylor’s A History of Economic Thought (1960). 

Recent addition: the final examination questions for “The Intellectual Background of Economic Thought” from the Spring term of 1940-41. 

______________________________________

[Course Listing]

Economics 1b 2hf. The Intellectual Background of Economic Thought.

Half-course (second half-year). Mon., Wed., and (at the pleasure of the instructor) Fri. at 11. Dr. O. H. Taylor.

 

Source: Harvard University. Announcement of the Courses of Instruction Offered by the Faculty of Arts and Sciences for the Academic Year 1940-41, Second Edition, p. 55.

______________________________________

[Course Enrollment]

[Economics] 1b 2hf. Dr. O. H. Taylor.—The Intellectual Background of Economic Thought.

14 Juniors, 1 Sophomore:   Total 15.

 

Source: Harvard University. Report of the President of Harvard College and Reports of Departments for 1940-41, p. 58.

______________________________________

 

Economics 1b

The Intellectual Background of Economic Thought

Reading, Lectures, and Discussions. February – May, 1941

 

Read during semester

G. H. Sabine: A History of Political Theory

 

During February

Morris Cohen: Reason and Nature, pp.
A. N. Whitehead: The Function of Reason
Carl Becker: The Heavenly City of the 18th C. Phil’s
O. H. Taylor: Two Articles, Econ. and Nat. Law, Q.J.E. vol. 44, p. 1 and 205.

 

During March

Crane Brinton: The Pol. Ideas of the Eng. Romanticists
Othmar Spann: A History of Econ. Theory
Sidney Hook: The Meaning of Marx
and others

 

During April

Crane Brinton: Eng. Pol. Thought in the 19th Cent. Sections (see Table of Contents) on Bentham, Coleridge, Mill, Cobden, Carlyle, Bagehot, T.H. Green, Spencer.
Alexander Gray: The Development of Econ. Doctrine
R. G. Tugwell and Others: The Trend of Economics. Chapters by Mitchell, Tugwell, Wolfe, Clark, and Knight
Henry Simons: A Positive Program for Laissez-Faire

 

Lectures and Discussions

February 3. Introductory Lecture. Ideologies and Economics. Classical Economics and Liberalism, Marxism, Romantic Nationalism, Modern Liberalism and Positivism. General Background of Intellectual History. Beginnings of Modern Science, Liberalism, Positivism, and Romanticism.
February 5. Lecture. A Criticism of the Economic Interpretation of History.
February 7. Class Discussion of Two Previous Lectures.
February 10. Lecture. Classical Economics and the Moral Basis of Free Enterprise Liberalism.
February 12. Lecture. The Defects of the Old Liberalism, and the Present Crisis.
February 14. Class Discussion of Two Previous Lectures.
February 17. Lecture. Western Positivism and German Romanticism.
February 19. Lecture. Western Positivism and German Romanticism – continued.
February 21. Class Discussion.
February 24. Lecture. The Origins of Positivism and the Mechanistic Cosmology and Sociology.
February 26. Lecture. Teleology and Mechanism, Moral and Natural Science, Mediaeval and Modern Phil.
February 28. Class Discussion.
March 3. Lecture. The Transition from the Moral to the Social Sciences. Ambiguities in the Transition Period. Classical Economics and Liberalism.
March 5. Lecture. The recent Growth of Pure Positivism, and the Change in Liberalism.
March 7. Class Discussion.
March 10. Lecture. The Origins and Nature of the Romantic Movement.
March 12. Lecture. Kant, and Romanticism in German Philosophy and Social Science.
March 14. Class Discussion.
March 17. Lecture. Adam Mueller, Frederich List, and the Historical School: Organicism, Nationalism, and Historical Relativity.
March 19. Lecture. Spiritual-Cultural Science, Culture Epochs; Sombart and Weber; Spann and the Nazis.
March 21. Class Discussion.
March 24. Lecture. The Backgrounds of Marx: Utopian Socialism, Classical Economics, and Hegel. Contributions of Each.
March 26. Lecture. The Essentials of Marxism, and its Relations to the Liberal and Romantic Traditions.
March 28. Class Discussion.
April 7. Lecture. The Physiocrats and Adam Smith. Economic Self-Interest and a Moral, Social Order.
April 9. Lecture. Utilitarianism and Classical Economics.
April 11. Class Discussion.
April 14. Lecture. Ricardian Economics, Utility Economics, and Mathematical Economics.
April 16. Lecture. Marginal Productivity and Distributive Justice.
April 18. Class Discussion.
April 21. Lecture. Monopolistic Competition and its Implications for Public Policy.
April 23. Lecture. The Positivist—and—Modern-Liberal Trend in Monetary and Cycle Theory. J. M. Keynes.
April 25. Class Discussion.
April 28. Lecture. Capitalism, Democracy, Class Struggle, and Liberalism.
April 30. Lecture. Economic Planning in a Free Society.
May 2. Class Discussion.

______________________________________

Reading Period
May 5-27, 1941

Economics 1b:   Read the following:

Robbins, Nature and Significance of Economic Science.

______________________________________

Source: Harvard University Archives (HUC 8522.2.1). Syllabi, course outlines and reading lists in Economics, 1895-2003: Box 2. Folder “1940-41”.

Image Source: Harvard Album, 1952.

Categories
Gender Harvard

Harvard and Wellesley. Race and Gender. Dubois and Balch.

Continue reading “Harvard and Wellesley. Race and Gender. Dubois and Balch.”