Category: Syllabus

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Courses Johns Hopkins Syllabus

Johns Hopkins. Courses. 1881-82

Ely’s course History of Political Economy, met twice weekly Tuesday and Friday 4 P.M. and had 26 students enrolled during the first half-year. According to the class roll (Johns Hopkins University Circulars, No. 12, December 1881, p. 157), Thorstein B. Veblen attended the class.

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COURSES IN HISTORY, INTERNATIONAL AND CONSTITUTIONAL LAW, AND POLITICAL ECONOMY, 1881-82.

[…]

SIMON NEWCOMB, LL.D., of Washington, will give a short course of lectures upon Political Economy, with special reference to the subject of Taxation.

HON. JOHN J. KNOX, of Washington, Comptroller of the Currency, will give three lectures upon Finance, with especial consideration of the National System of Banking, November 10–17.

RICHARD T. ELY, Ph.D. [Heidelberg, 1879], will give a course of twenty class lectures on the History of Political Economy, beginning Friday, October 14, at 4 P. M., and continuing on successive Tuesdays and Fridays at the same hour.

The lectures will be given in Room 1, 193 North Eutaw Street. It is designed in this course of lectures to describe the teachings of leading political economists from the time of the mercantilists up to the present. The origin of the various economic schools and their relations will be explained. The sources of economic knowledge and the methods of work will be pointed out, and topics for original investigation suggested. The writing of essays on assigned topics will be expected from the advanced students in the class.

ORDER OF TOPICS.

Introductory. Utility of the Historical Method. Discussion of the Questions: What is Political Economy? What has it accomplished?

Mercantilists. Commerce. Balance of Trade.

Physiocrats. Agriculture the Sole Source of Wealth.

Adam Smith. Recognition of Manufacturing Industry as also a Source of Wealth; hence the name Industrial System.

Adam Smith’s Followers: A. The Development of Pessimistic Tendencies, (a) Malthus, (b) Ricardo, (c) Mill; B. The Optimists, (a) Bastiat, (b) Carey.

The Opponents of Adam Smith. National Economy. Ad. Muller, Fr. List, Carey and others.

Communism.

Socialism. A. Social Democracy. B. Professorial Socialism

The Present Condition of Political Economy; (a) in France, (b) in Germany, (c) in England, (d) in America and elsewhere.

Review of the Field and Conclusion.

P. B. MARCOU, A. M., will conduct a special historical course, two hours weekly during the first half-year, in the Modern French Socialists. A knowledge of French is requisite for those pursuing this course.

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Source:  Johns Hopkins University. University Circulars. No.12, December, 1881, p. 162.

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Courses Harvard Syllabus

Harvard Economics. Course. Graduate Theory. Schumpeter. 1935-36

 

 

The graduate economic theory course, Economics 11, was taught by Schumpeter for both semesters of the academic year 1935-36. According to Schumpeter’s own handwritten list of students and grades for that course, Paul Samuelson received a grade of A+ and represented the local maximum of the “Ec 11 boys, graduates”.

1935_6_Ec11_SchumpeterGrades

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Because the “cost controversy” was discussed during the first term of the academic year 1935-36 (one can gleam a glimpse of content from Schumpeter’s course notes from random names and words not written in his shorthand) I append here the corresponding readings assigned for the second term of the the academic year 1934-35.  Note that Pigovian welfare economics appears to have been covered some time during the second term of the academic year 1935-36, see the exam below.

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The Laws of Cost and Returns. Probably three or four weeks. It is proposed to deal fully with the so-called “cost controversy”, a series of more or less closely connected articles which appeared in the Economic Journal from 1922 to 1932. The following is a list of the articles in the order of their appearance. Students will not be held responsible for those included in brackets, some of which are connected only remotely with the main controversy. 1) “On Empty Economic Boxes”, J. H. Clapham, Sept. 1922; “Empty Economic Boxes: a Reply”, A.C. Pigou, Dec. 1922; “Those Empty Boxes”, D. H. Robertson, March, 1924; “The Laws of Returns under Competitive Conditions”, P. Sraffa, Dec. 1926; [“The Laws of Diminishing and Increasing Costs”, A.C. Pigou, June 1927]; [“An Analysis of Supply”, A. C. Pigou; June 1928]; “Varying Costs and Marginal Net Products”, G. F. Shove, June 1928; [“The Instability of Capitalism”, J.A. Schumpeter, Sept. 1928;] [“The Representative Firm”, L.C. Robbins, Sept. 1928]; “Increasing Returns and Economic Progress”, A.A. Young, Dec. 1928; “Increasing Returns and the Representative Firm: a Symposium”, D.H. Robertson, G.F. Shove, and P. Sraffa, March 1930. The following two articles by R.F. Harrod are in effect a continuation of the “cost controversy”, but they will be considered later in connection with the discussion of imperfect competition: “Notes on Supply”, June 1930; and “The Law of Decreasing Cost”, Dec. 1931.

Source: Harvard University Archives,  HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: Ec11 Fall 1935.

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Economics 11 [First term]

            Following is a list of some of the most important works in English dealing with problems outside the range of perfect competition. They are not all assigned, but assigned reading is taken altogether from this list.

Pigou, A. C., Economics of Welfare, 3rd Edition.
Chamberlin, E. H., The Theory of Monopolistic Competition.
Chamberlin, E. H., On Imperfect Competition, in the March, 1934 Supplement of The American Economic Review, pp. 23-27.
Robinson, Joan, Economics of Imperfect Competition.
Robinson, Joan, What is Perfect Competition, Q. J. E., Nov. 1934.
Zeuthen, F., Problems of Monopoly and Economic Warfare.
Cournot, A. A., Mathematical Principles of the Theory of Wealth.
Edgeworth, F. Y., The Pure Theory of Monopoly (Papers, Vol. I)
Hotelling, Harold, Stability in Competition, E. J., March 1929.
Shove, G. F., The Imperfection of the Market, E. J., March 1933.
Harrod, R. F., Doctrines of Imperfect Competition, Q. J. E., May 1934.
Hicks, J. R., The Theory of Monopoly, Econometrica, Jan. 1935.

The subjects, in the order in which they will be taken up, together with the assigned reading, are given below.

I. The Technique and the Background.
Pigou, Part II, Ch. XIV.
Robinson, Chs. 1, 2.
Chamberlin, Chs. 1, 2.		 V. Monopolistic Competition
Chamberlin, Chs. 4, 5, 6, 7.
Robinson, Ch. 7. Q.J.E., Nov. ‘34
Shove, E.J., March ’33.
Harrod, Q.J.E., May ’34.
II. Simple Monopoly.
Pigou, Part II, Ch. XVI.
Robinson, Chs. 3, 4, 5.		 VI. Discrimination.
Pigou, Chs. XVII, XVIII (Part II).
Robinson, Chs. 15, 16.
III. Duopoly and Oligopoly
Pigou, Part II, Ch. XV.
Chamberlin, Ch. 3.		 VII. Imperfect Competition and the Theory of Distribution.
Chamberlin, in March ’34 A.E.R. Supplement.
IV. Bilateral Monopoly.(To be discussed in class)

 

Source: Harvard University Archives,  HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: Ec11 Fall 1935.

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1935-36
HARVARD UNIVERSITY
ECONOMICS 11

Four questions may be omitted. Arrange your answers in the order of the questions.

  1. Discuss the concepts “internal economies” and “spreading of overhead” and explain what, if any, relations exist between the two.
  2. What do we mean by Production Function? Discuss its principal properties, and state why and for what purpose we need this instrument of analysis.
  3. “Wherever products are differentiated, the theory of monopoly seems adequately to describe their prices. Competition is not eliminated from the explanation; it is fully taken into account by the recognition that substitutes affect the elasticity of demand for each monopolist’s product.” Do you agree? Justify your answer.
  4. “Under imperfect competition, in conditions of full long period equilibrium, it is not only true that average costs for the individual firm may be falling; they must be falling.” Discuss. Does this necessarily imply falling supply price?
  5. Assume that a commodity is offered by two sellers. Disregard costs. Describe the courses of action open to the two sellers, and discuss the conditions of the case in which price and quantity sold are uniquely determined. Show that in this case price will as a rule be higher than under perfect competition and lower than under monopoly.
  6. In his 1926 article, Sraffa says, “It is necessary to abandon the path of free competition and turn in the opposite direction, namely, towards monopoly.” Discuss the considerations which led him to adopt this view.
  7. Discuss price and output under discriminating monopoly.
  8. State and discuss the principle involved in “Hotelling’s case.”
  9. “The economist has shown that, granted certain assumptions, a set of prices exists which, if established from the beginning, would produce a state of equilibrium; he has never demonstrated, however, that forces are at work which would tend to establish such a system of prices.” Discuss.

Mid-Year. 1936.

Source: Harvard University Archives,  HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: Ec11 Fall 1935.

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ECONOMICS 11 [Second term]

            The first four or five weeks of the second term will be devoted to a study of distribution, with special emphasis on the theory of wages. Topics to be covered include (1) marginal productivity, (2) the elasticity of substitution, and (3) opportunity costs. The following is a list of reading.

  1. Marginal Productivity and the Theory of Wages
    1. Marshall, Bk. VI, especially Ch. I.
    2. Hicks, J. R., “The Theory of Wages”, Chs. I and VI.
    3. ——-, Marginal Productivity and the Principle of Variation,” Economica, Feb., 1932.
    4. Schultz, Henry and Hicks, J. R., “Marginal Productivity and the Lausanne School: A Reply” and “A Rejoinder”, Economica, Aug., 1932.
    5. Clark, J. B., “The Distribution of Wealth”, Ch. VIII.
    6. Robertson, D. H., “Wage Grumbles” in the volume of essays entitled Economic Fragments.
  2. Elasticity of Substitution
    1. Hicks, Ch. VI (Cf. above).
      (mathematical treatment in Appendix for those who prefer)
    2. Machlup, Fritz, “The Common Sense of the Elasticity of Substitution”, Review of Economic Studies, June, 1935.
    3. Also notes and articles on substitution in Review of Economic Studies, Vol. I, nos. 1 and 2, though not required reading, may be consulted.
  3. Opportunity Costs.
    1. Green, D.I., “Pain Cost and Opportunity Cost”, Quarterly Journal of Economics, 1894.
    2. Davenport, H.J. , “Economics of Enterprise”, Ch. VI.
    3. Knight, F.H., “A Suggestion for Simplifying the Statement of the General Theory of Price”, Journal of Political Economy, 1928.

Source: Harvard University Archives,  HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: Ec11 1935-36.

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ECONOMICS 11  [Second term]

            The next two or three weeks will be devoted to the discussion of capital and interest. A select bibliography and the assigned reading are listed below. The readings from Wicksell and Knight will probably not be covered in class and may, therefore, at pleasure be postponed until the reading period. As usual in this course there will be no additional reading period assignment.

 

BIBLIOGRAPHY

  1. Böhm-Bawerk, E., Capital and Interest (a history of interest theories); The Positive Theory of Capital (the third edition, available only in German, containing the polemical Excursi, is to be preferred to the English translation)
  2. Marx, Karl, Capital (especially Vol. I, Parts III and VII; Vol. II, Part III; Vol. III, Parts II and III)
  3. Wicksell, Knut, Über Wert, Kapital und Rente;  Lectures on Political Economy, Vol. I
  4. Fisher, Irving, The Rate of Interest (1907);  The Theory of Interest (1930) (a rewriting of the earlier work)
  5. Taussig, F.W., Wages and Capital
  6. Knight, F.H., “Interest”, article in The Encyc. of Soc. Science
  7. For a rather complete list of the numerous recent articles on capital, interest and the structure of production, Cf. Machlup, Fritz, “Professor Knight and the Period of Production”, Journal of Political Economy, 1935, first footnote.
  8. For an exposition of Böhm-Bawerk, Wicksell and the later work along the same lines done in Sweden, particularly by Gustav Akerman, Cf. Kirchmann, Hans, Studien zur Grenzproduktivitätstheorie des Kapitalzinses.

 

ASSIGNED READING

  1. Fisher, The Rate of Interest, Part I, Chs. 1,2,3; Part III, Ch. 10
  2. Böhm-Bawerk, Positive Theory, Book I, Ch. 2; Book II, Chs. 2,4,5; Book V, Chs. 1,2,3,4,5; Book VI, Chs. 5,6,7; Book VII, Chs. 1,2,3.
  3. Wicksell, Lectures, Vol. I, pp. 144-171; 185-195.
  4. Knight, “Professor Fisher’s Theory of Interest: a Case in Point”, Journal of Political Economy, April, 1931.

Source:  Harvard University Archives, HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: “Ec11 1935-36”

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[Given that Economic Welfare, the distinction between marginal social value and private net value product, and the national dividend show up in questions 5 and 6 in the final, I append here the corresponding readings assigned for the second term of the the academic year 1934-35]

Welfare and the National Dividend. Approximately two weeks. The discussion will turn around the following chapters from “The Economics of Welfare” by A.C. Pigou (3rd or 4th edition): Part I, Chapters 1,2,3,5,6,7,8; Part IV, Chapter 2; and Part II, Chapters 1,2,3,4,11. In the second edition the corresponding chapters from Part I are 1-7 inclusive and from Part II, 1,2,3,4,10. Chap. 10 Part II is completely revised in the third edition (where it appears as Chap. 11, Part II) and should if possible be read in the third.

Source:  Harvard University Archives, HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: “Ec11 Fall 1935”

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1935-36
Final Examination
Economics 11

One question may be omitted. Arrange your answers in the order of the questions:

  1. What is the relation between elasticity of substitution and elasticity of demand? Interpret the following statement: “If the demand price of capital increases as a result of a fall in wages, then the elasticity of demand for labor is greater than the elasticity of substitution.”
  2. How would you expect inventions to affect the rate of interest?
  3. Marginal productivity of labor is held to determine wages. How does this work out in the cases of perfect and of imperfect competition?
  4. State and discuss Boehm-Bawerk’s theory of interest.
  5. “If in all industries the values of marginal social and marginal private net product differed to exactly the same extent, the optimum distribution of resources [between their possible uses] would always be attained, and there would be, on these lines, no case for fiscal interference”. Discuss.
  6. Define Economic Welfare and National Dividend. Do you consider these two concepts to be serviceable instruments of economic analysis? Why or why not?

 

Source:  Harvard University Archives, HUC (FP) – 4.62. Joseph Schumpeter, Lecture Notes. Box 9, Folder: “Ec11 Fall 1935”

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Categories
Courses Exam Questions Harvard Syllabus

Harvard Economics. Course. Graduate Theory. Schumpeter. Spring 1935

The second semester of Economics 11 for the academic year 1934-35  was taught by Joseph Schumpeter after Frank W. Taussig taught the first semester.

Wolfgang Stolper’s notes for the course (Box 19, Notebook “Taussig Ec 11 Theory. 1934-35”) taken during the Spring Semester 1935 follow the printed reading lists given below that are undated in the folder marked “Ec11 Fall 1935” in Schumpeter’s papers.

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Economics 11

The following is a brief outline of what will be covered in the first four to six weeks of the second semester.

I. Welfare and the National Dividend. Approximately two weeks. The discussion will turn around the following chapters from “The Economics of Welfare” by A.C. Pigou (3rd or 4th edition): Part I, Chapters 1,2,3,5,6,7,8; Part IV, Chapter 2; and Part II, Chapters 1,2,3,4,11. In the second edition the corresponding chapters from Part I are 1-7 inclusive and from Part II, 1,2,3,4,10. Chap. 10 Part II is completely revised in the third edition (where it appears as Chap. 11, Part II) and should if possible be read in the third. The material from Part II leads to the second main topic, namely,

II. The Laws of Cost and Returns. Probably three or four weeks. It is proposed to deal fully with the so-called “cost controversy”, a series of more or less closely connected articles which appeared in the Economic Journal from 1922 to 1932. The following is a list of the articles in the order of their appearance. Students will not be held responsible for those included in brackets, some of which are connected only remotely with the main controversy. 1) “On Empty Economic Boxes”, J. H. Clapham, Sept. 1922; “Empty Economic Boxes: a Reply”, A.C. Pigou, Dec. 1922; “Those Empty Boxes”, D. H. Robertson, March, 1924; “The Laws of Returns under Competitive Conditions”, P. Sraffa, Dec. 1926; [“The Laws of Diminishing and Increasing Costs”, A.C. Pigou, June 1927]; [“An Analysis of Supply”, A. C. Pigou; June 1928]; “Varying Costs and Marginal Net Products”, G. F. Shove, June 1928; [“The Instability of Capitalism”, J.A. Schumpeter, Sept. 1928;] [“The Representative Firm”, L.C. Robbins, Sept. 1928]; “Increasing Returns and Economic Progress”, A.A. Young, Dec. 1928; “Increasing Returns and the Representative Firm: a Symposium”, D.H. Robertson, G.F. Shove, and P. Sraffa, March 1930. The following two articles by R.F. Harrod are in effect a continuation of the “cost controversy”, but they will be considered later in connection with the discussion of imperfect competition: “Notes on Supply”, June 1930; and “The Law of Decreasing Cost”, Dec. 1931.

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[There is a gap in reading lists between the laws of costs and production above and the discussion of imperfect competition and monopolistic competition below. The following three topics and readings are taken from the second term of the academic year 1935-36. According to Stolper’s notes (both from class and his reading notes), the topics and material were at least touched upon in the second term of the academic year 1934-35. Cf. the final exam questions below.]

 

  1. Marginal Productivity and the Theory of Wages
    1. Marshall, Bk. VI, especially Ch. I.
    2. Hicks, J. R., “The Theory of Wages”, Chs. I and VI.
    3. ——-, Marginal Productivity and the Principle of Variation,” Economica, Feb., 1932.
    4. Schultz, Henry and Hicks, J. R., “Marginal Productivity and the Lausanne School: A Reply” and “A Rejoinder”, Economica, Aug., 1932.
    5. Clark, J. B., “The Distribution of Wealth”, Ch. VIII.
    6. Robertson, D. H., “Wage Grumbles” in the volume of essays entitled Economic Fragments.
  2. Elasticity of Substitution
    1. Hicks, Ch. VI (Cf. above).
      (mathematical treatment in Appendix for those who prefer)
    2. Machlup, Fritz, “The Common Sense of the Elasticity of Substitution”, Review of Economic Studies, June, 1935.
    3. Also notes and articles on substitution in Review of Economic Studies, Vol. I, nos. 1 and 2, though not required reading, may be consulted.
  3. Opportunity Costs.
    1. Green, D.I., “Pain Cost and Opportunity Cost”, Quarterly Journal of Economics, 1894.
    2. Davenport, H.J. , “Economics of Enterprise”, Ch. VI.
    3. Knight, F.H., “A Suggestion for Simplifying the Statement of the General Theory of Price”, Journal of Political Economy, 1928.

Source: Harvard University Archives, HUC (FP) – 4.62. Joseph Schumpeter Lecture Notes, Box 9, Folder “Ec11 1935-36”.

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Economics 11

Following is a list of some of the most important works in English dealing with problems outside the range of perfect competition. They are not all assigned, but assigned reading is taken altogether from this list.

Pigou, A. C., Economics of Welfare, 3rd Edition.
Chamberlin, E. H., The Theory of Monopolistic Competition.
Chamberlin, E. H., On Imperfect Competition, in the March, 1934 Supplement of The American Economic Review, pp. 23-27.
Robinson, Joan, Economics of Imperfect Competition.
Robinson, Joan, What is Perfect Competition, Q. J. E., Nov. 1934.
Zeuthen, F., Problems of Monopoly and Economic Warfare.
Cournot, A. A., Mathematical Principles of the Theory of Wealth.
Edgeworth, F. Y., The Pure Theory of Monopoly (Papers, Vol. I)
Hotelling, Harold, Stability in Competition, E. J., March 1929.
Shove, G. F., The Imperfection of the Market, E. J., March 1933.
Harrod, R. F., Doctrines of Imperfect Competition, Q. J. E., May 1934.
Hicks, J. R., The Theory of Monopoly, Econometrica, Jan. 1935.

The subjects, in the order in which they will be taken up, together with the assigned reading, are given below.

I. The Technique and the Background.Pigou, Part II, Ch. XIV.
Robinson, Chs. 1, 2.
Chamberlin, Chs. 1, 2.		 V. Monopolistic CompetitionChamberlin, Chs. 4, 5, 6, 7.
Robinson, Ch. 7. Q.J.E., Nov. ‘34
Shove, E.J., March ’33.
Harrod, Q.J.E., May ’34.
II. Simple Monopoly.Pigou, Part II, Ch. XVI.
Robinson, Chs. 3, 4, 5.		 VI. Discrimination.Pigou, Chs. XVII, XVIII (Part II).
Robinson, Chs. 15, 16.
III. Duopoly and OligopolyPigou, Part II, Ch. XV.
Chamberlin, Ch. 3.		 VII. Imperfect Competition and the Theory of Distribution.Chamberlin, in March ’34 A.E.R. Supplement.
IV. Bilateral Monopoly.(To be discussed in class)  

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1934-35
Harvard University
ECONOMICS 11

Two questions may be omitted. Arrange your answers in the order of the questions.

  1. State the principle of Pigou’s method of measuring the National Dividend, and explain the relation of variations in the National Dividend, as thus measured, to “Welfare.”
  2. “What the production of any commodity costs to society or any individual, is the satisfaction which could have been derived from producing something else with the same means of production.” What do you think of this proposition?
  3. Explain briefly what is meant by
    (a) Elasticity of demand,
    (b) Elasticity of substitution,
    (c) Marginal revenue,
    (d) Bilateral monopoly,
    (e) Perfect competition.
  4. State the three theorems, which together constitute the “theory of marginal productivity” and show what, if anything, corresponds to each of them in the case of imperfect competition.
  5. “Monopolistic competition implies oligopoly and could not exist without it.” Do you agree?
  6. Define discrimination, and formulate the condition which must be fulfilled in order to maximize the discriminating monopolists profit. Do you think that the monopolists output will be greater or less than it would be without discrimination?

Final. 1935.

No. 55

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Source: Harvard University Archives. HUC (FP)–4.62. Joseph Schumpeter Lecture Notes, Box 6. Folder “Ec 11, Fall 1935”.

Categories
Courses Exam Questions Harvard Syllabus

Harvard Economics. Course. Graduate Economic Theory. Taussig. 1934-5

Frank W. Taussig’s last time teaching the graduate theory course, Economics 11, was  in the Fall Semester of 1934. Joseph Schumpeter took over the second half of the course for the Spring Semester of 1935. In Schumpeter’s papers are 3 pages of Taussig’s handwritten notes and carbon copies of reading lists. Note: the folder where the material is found is labelled “Ec 11 Fall 1935” but material from 1934-35 is in it as well.

 

ECONOMICS 11, FALL SEMESTER 1934

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[handwritten notes by F. W. Taussig, cf. initials in letter June 9, 1914 to Hunnewell in Lowell Papers, Box 14 Folder 403]

Economics 11 — 1934-35

Topics taken up by F.W.T. [Taussig], in order

  1. Ricardo, Mill—Theory of Value + Distribution
  2. “Labor Theory” as modified by non-competing Groups + Social Stratification
  3. Temporary Equil of S. + D.—inflow of goods to market from an existing stock
  4. Equil. of S. + D. for longer period.
    a) Marshall 2nd period—inflow from existing plant
    b)      “           3rd period—inflow from changing plant
  5. External + Internal Economies—M’s [Marshall’s] 4th period
  6. Quasi-Rent
    Agricultural + Urban Rent
  7. Profits
  8. Clark—B.B. [Böhm-Bawerk]
  9. Consumer’s Surplus.

Topics not taken up

Theory of Monopoly Price
Austrian Theory of Value

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[handwritten notes by F. W. Taussig]

(1

Ec 11 — ‘34-35

I

Ricardo, chs I Value (omitting the discussion of Adam Smith)

“    II Rent,   III Rent of Mines
“    IV
“    V Wages
“    VI Profits

Mill, Bk III chs I, III[,] IV

(Value, omitting ch II, which was considered later in connection with Marshall)

Mill   Bk II, ch. XVI ; Bk I, ch. XII (Rent)

“      Bk II, ch XI ; XIII, §§3-4 Wages
“      Bk II, ch XV ;   Profits
“      Bk IV, chs IV[,] V, VI ; Profits to a minimum

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[handwritten notes by F. W. Taussig]

(2

Reading List—Econ 11 — 1934-35

Non-competing Groups + Labor Theory of Value

Cairnes[,] Leading Principles.  P+I, ch. III

Mill[,] Bk II, ch XIV (Differences of wages), cf. Adam Smith, Bk I, ch. X

Taussig, Principles, ch 47, 48

Marshall, Book VI chs IV, V;  Book IV, ch 6

Cf. Marshall second edition,  Bk VI, ch I, §3 (p. 557-558)

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[handwritten addition] 3)

[Typed table of readings that is nearly identical to Wolfgang Stolper’s hand-written reading list in his course notes from the Fall Semester 1934. Cf. Duke University, Rubenstein Rare Book & Manuscript Library. Wolfgang F. Stolper Papers, Box 19, Notebook: Taussig Ec 11 Theory, 1934-35]

Economics 11
1934-35

Demand,
Market
Value		 Mill, Book III, chs. 1, 2.
Marshall, Book III, ch. 3; Book V, chs. 1, 2.
Taussig, Quarterly Journal of Economics, May 1921
Normal
Value		 Mill, Book III, chs. 3, 4.
Marshall, Book V, chs. 3, 4, 5.
Viner, Zeitschrift f. Nationaloekonomie, Sept. 1931, vol. I
Taussig, Quarterly Journal of Economics, February 1919.
Marshall, Appendix H
Quasi
Rent		 Marshall, Book V, ch. 8; Book V, ch. 9.
Fetter, Quarterly Journal of Economics, May 1901 (vol. 15).
Increasing
Returns		 Marshall, Book V, ch. 12; Book IV, ch. 9, §7; ch. 10, 13.
Agricultural
Rent,
Urban Rent		 Marshall, Book IV, chs. 2, 3; Book V, ch. 10, (omit §§4, 5); Book VI, ch. 9; Book V, ch. 11.
Ely, Outlines, 5th ed., ch. 22.
Profits Mill, Book II, ch. 15.
Marshall, Book IV, chs. 12, 13; Book VI, chs. 7, 8.
Knight, “Risk, Uncertainty and Profits”, chs. 9, 10.
Ely, Outlines, ch. 24.L.
Robbins, The Representative Firm, Economic Journal (1928)
[handwritten addition] Marshall Bk V, ch. 10 §2 (settlers in a new country); Bk VI, ch V, §7 (rare natural abilities)
[handwritten addition] Schumpeter—Theory of Ec. Development ch. IV

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[Typed carbon list]

[handwritten addition] 4)

Economics 11
1934-35
Reading

I

Böhm-Bawerk, Positive Theory of Capital

Book II, chs. 1, 2, 4, 6
Book V, chs. 1, 2, 3, 4, 5
Book VI, chs. 1 (pp. 285-286), 2, 4, 5, 6
Book VII, chs. 1, 2, 5

II

Clark, Distribution of Wealth

chs. 6, 7, 8, 9, 20
chs. 11, 12, 13, 21

Marshall, Book IV, ch. 7 (“The Growth of Wealth”—Capital, Saving etc); Book VI, chs. 1, 2

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[Final Exam Economics 11, Fall Semester 1934]

1934-35
HARVARD UNIVERSITY
ECONOMICS 11

One question may be omitted. Arrange your answers in the order of the questions.

  1. “Suppose that society is divided into a number of horizontal grades, each of which is recruited from the children of its own members; and each of which has its own standard of comfort, and increases in numbers rapidly when the earnings to be got in it rise above, and shrinks rapidly when they fall below that standard. Suppose, then, that parents can bring up their children to any trade in their own grade, but cannot easily raise them above it and will not consent to sink them below it….”

Suppose also that there is free competition as regards the earnings of capital.

On these suppositions what would be the relation between

(a) the values of commodities and their “real cost”
(b) the values of commodities and their money costs;
(c) the values of commodities and their supply prices?

  1. “Internal economies of large-scale production are primarily a long-run phenomenon, dependent upon appropriate adjustment of scale of plant to each successive output. They should not be confused with the economies resulting from ‘spreading of overhead.’” Why or why not to be thus confused?

“Internal economies of large-scale production are independent of the size of output of the industry as a whole, and may be accruing to a particular concern whose output is increasing at the same time that the output of the industry as a whole is undergoing a decline.” Why or why not?

  1. Does quasi-rent have the same meaning in the following passages?

(a) “The quasi-rent of farm-buildings.”
(b) “When the artisan or professional man has once obtained the skill required for his work, a part of his earnings are for the future really a quasi-rent of the capital and labor invested in fitting him for his work, in obtaining his start in life, his business connections, and generally his opportunity for turning his faculties to good account; and only the remainder of his income is true earnings of effort. But this remainder is generally a large part of the whole. And here lies the contrast. For when a similar analysis is made of the profits of the business man, the proportions are found to be different; in his case the greater part is quasi-rent.”
(c) “In relation to normal value the earnings of high ability are to one regarded as a quasi-rent rather than as a rent proper.”

  1. Is it fatal to the conception of consumers’ surplus to admit:

(a) that differences in income make it impossible to measure satisfactions;
(b) that each unit of a homogeneous supply yields ipso facto the same satisfaction as every other unit;
(c) that the satisfaction indicated by the high price paid for an article having “prestige value” will disappear when the article becomes cheap

  1. Does “capital,” as distinguished from “capital goods,” serve to synchronize the effort of labor with the reward for labor? If so, how? If not, why not?
  1. Explain the distinctions

(a) between the intensive and the extensive margins of cultivation for land;
(b) the intensive and the extensive zones of indifference in the application of labor;
(c) the marginal product of labor and the product of marginal labor.

State summarily your opinion of the usefulness of the distinctions as tools of analysis.

Mid-Year. 1935.

No. 37

Source: Harvard University Archives. Joseph Schumpeter Papers. HUC (FP) – 4.62
Box 9 (Lecture Notes), Folder “Ec11 Fall 1935”.

Categories
Courses Harvard Socialism Syllabus

Harvard Economics. Course. Economics of Socialism. Sweezy. 1940

The course “Economics of Socialism” (Economics 11b) was taught during the Spring Semester 1940 by Dr. Paul M. Sweezy. According to the Report of the President of Harvard College and Reports of Departments for 1939-40 (p. 99), sixty students were enrolled:  20 Seniors, 25 Juniors, 6 Sophomores and 9  out-of-course candidates for the Bachelor’s degree.

For biographical detail about Paul Sweezy, take to the following link at the Monthly Review website for the Memorial Service for Paul Marlor Sweezy (1910-2004) by John Bellamy Foster (Feb 27, 2004).

Addition April 18, 2017:  Final Examination for Sweezy’s course “Economics of Socialism” in 1940.

Fun Fact:  John F. Kennedy took this course in the second semester of his senior year according to the copy of his Harvard College record at the John F. Kennedy Presidential Library.

____________________

ECONOMICS 11b
1939-40

 

Outline and Assignments—First Eight Weeks

The first eight weeks (to spring recess) will be devoted to the socialist critique of capitalist economy. The last four weeks will be devoted to the problems of socialist economy. This sheet covers only the first eight weeks.

Assigned readings are taken from the following works:

  1. Böhm-Bawerk, E. v., Karl Marx and the Close of his System
  1. Burns, Emile, Handbook of Marxism.
  1. Dobb, Maurice, Political Economy and Capitalism.
  1. Lenin, V. I., Imperialism.
  1. Lenin, V. I., State and Revolution.
  1. Marx, Karl, Capital, Vols. I and III.
  1. Marx, Karl, Value, Price and Profit.
  1. Lange, Oskar, “Marxian Economics and Modern Economic Theory,” Review of Economic Studies, June 1935.

In addition to the assigned reading every student will be expected to submit before the spring recess a report of about 1500 words on one of the following books:

  1. Cole, G. D. H., Life of Robert Owen.
  1. Foster, W. Z., From Bryan to Stalin.
  1. Fox, Ralph, Lenin: a Biography.
  1. Freeman, Joseph, An American Testament.
  1. Hicks, Granville, John Reed, the Making of a Revolutionary.
  1. Hillquit, Morris, Loose Leaves from a Busy Life.
  1. Mayer, Gustav, Friedrich Engels: a Biography.
  1. Mehring, Franz, Karl Marx: the Story of his Life.
  1. Trotsky, Leon, My Life: an Attempt at an Autobiography.
  1. Weir, L.M., The Tragedy of Ramsey Macdonald.

____________________

Outline and Assignments

FIRST WEEK. Marx and Engels; dialectical materialism and historical materialism; classical economics.

Burns, Handbook of Marxism, Chs. I, XIII, XIV, XX.

Ricardo, Principles, Ch. I (Sections I-V inclusive).

SECOND AND THIRD WEEKS. Commodities; the law of value; suplus value; accumulation; the reserve army of labor.

Marx, Capital, Vol. I, Ch. I (sections 1, 4).

Marx, Value, Price and Profit.

Marx, Capital, Vol. I, Ch. XXIII; Ch. XXIV (sections 1, 2 3); Ch. XXV.

FOURTH WEEK. Law of the falling tendency of the rate of profit; crises.

Marx, Capital, Vol. III, Part III.

Dobb, Political Economy and Capitalism, Ch. IV.

FIFTH WEEK. Value calculation and price calculation.

Marx, Capital, Vol. III, Chs. VIII, IX.

Böhm-Bawerk, Karl Marx and the Close of his System, Chs. II, III.

SIXTH WEEK. Theory of Social Classes and the State.

Lenin, State and Revolution.

SEVENTH WEEK. Monopoly and the Theory of Imperialism.

Lenin, Imperialism.

Dobb, Political Economy and Capitalism, Ch. VII.

Lange, “Marxian Economics and Modern Economic Theory.”

EIGHT WEEK. Review.

Book reports due. No additional assignment.

____________________

ECONOMICS 11b
1939-40

Outline and Assignments—Last Four Weeks and Reading Period

Assigned readings are taken from the following works:

  1. Dickinson, H. D., Economics of Socialism (1939).
  1. Pigou, A. C., Socialism vs. Capitalism (1937).
  1. Lange, Oskar and Taylor, F. M., On the Economic Theory of Socialism (1938).

NINTH WEEK (April 7-13). Historical sketch of the economics of a socialist society; demand and cost in a socialist economy.

Dickinson, Economics of Socialism, pp. 24-98.

TENTH WEEK (April 14-20). Prices and incomes in a socialist economy.

Dickinson, Economics of Socialism, pp. 98-166.

ELEVENTH WEEK (April 21-27). Special problems of a socialist economy.

Dickinson, Economics of Socialism, pp. 166-226.

TWELFTH WEEK (April 28-May 4). Income distribution in socialist theory and practice.

Assignment to be announced.

 

READING PERIOD

Read both:

1. Pigou, Socialism vs. Capitalism.

2. Lange and Taylor, On the Economic Theory of Socialism. pp. 55-142.

____________________

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. HUC 8522.2.1. Box 2, Folder (1939-1940, No. 1).

Categories
Chicago Courses Economists Exam Questions Syllabus

Chicago. Course Notes. Theory of Income and Employment. Marschak. 1948.

The Cowles Commission Archive at Yale provides a copy of Income, Employment, and the Price Level: Notes on Lectures Given at the University of Chicago Autumn 1948 and 1949 by Jacob Marschak. Notes edited by David Fand and Harry Markowitz, 1951. Problems, course examination (Fall 1949) and reading list are included.

See the biographical memoir for Jacob Marschak (1898-1977) written by Kenneth Arrow to appreciate the enormous debt modern economics owes to Marschak.

From the Course Announcements this would have been Economics 335, The Theory of Income and Employment offered in Autumn and Spring quarters.  The notes explicitly refer to only the Autumn Quarters of 1948 and 1949. Oswald H. Brownlee was listed  in the Announcements for the course for the Spring Quarter in 1949.

In the Evsey D. Domar Papers at Duke University’s Rubenstein Library, Box 16 c.1, folder “Final Exams: Johns Hopkins, Stanford, U. of Michigan”, there is a one page mimeographed page of final exam questions for “Economics 335, June 17, 1948” which is the time Domar had an joint appointment Cowles Commission/Department of Economics at the University of Chicago and corresponds to the precise end of the Spring quarter. Thus I consider it highly likely to most probable that Domar taught the Spring term, 1948 of Economics 335.

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

Categories
Chicago Courses Syllabus

Chicago Economics. Math Econ (Econ 402). Henry Schultz References. 1932

 

 

Albert G. Hart was a graduate student at the University of Chicago 1931-34. Among the courses he took was that of Henry Schultz in mathematical economics. In his papers are three sets of reading lists for the course along with Hart’s handwritten notes.

Course Description Econ 402
References for Econ. 402
References for Cost Theory
References for Monopolistic Competition

The same core reading list was used in the autumn quarter of 1935. The reading list for that quarter has been transcribed in a later post, with the added attraction of having many links to the individual items on the list!

________________________________

 

  1. Mathematical Economics.—A study of economic theory from the point of view of assumptions, range of problems, methods and tools, and validity and utility of results under present conditions. Consideration is given to the problem of “circular reasoning” in price theory, to the advantages and limitations of the mathematical approach, and to the possibility of developing a “statistical complement” to pure theory. Special attention is paid to the problem of price determination and to the mathematical theory of production. Readings will be assigned on special topics in the works of Cournot, Jevons, Walras, Pareto, Marshall, Moore, and others; and the class meetings will be devoted chiefly to discussion. Opportunity for investigation of particular problems is offered the student. Prerequisite: Economics 301 [Price and Distribution Theory], a reading knowledge of French, and consent of the instructor. Registration may be made for one or more courses each quarter. Summer, Spring, SCHULTZ.

 

Source: University of Chicago. Announcements, Social Sciences for the sessions of 1931-32. Vol. XXI, January 15, 1931, no. 11, p. 26

________________________________

[Spring Quarter 1932]

REFERENCES FOR ECON. 402

Mathematical Economics
By
Henry Schultz
University of Chicago

 

Amoroso, Luigi Lezioni di Economia Matematica
Le Equazioni Differenziali della Dinamica Economica—in Giornale degli Economisti, February, 1929.
La Curva Statica di Offerta—Giornale degli Economisti, January, 1930.
Annals of the American Academy of Political & Social Science July, 1892 (Paper by Walras)
Auspitz, Rudolf
Lieben, Richard		 Recherches sur la théorie du prix
Bentham, Jeremy Principles of Morals and Legislation
Bertolasi, Ellen Quittner Die Stellung der Lausanner Schule in der Grenznutzenlehre—in Arch. f. Sozialw. u. Sozialpol., 64. Band, Heft 1, August, 1930, pp. 16-44.
Black, J. O. Production Economics
Bonar, James Philosophy and Political Economy
Bousquet, G. H. Essai sur l’évolution de la Pensée économique
Précis de sociologie d’àpres Vilfredo Pareto
Vilfredo Pareto: Sa vie et son oeuvre
Boven, Pierre Les applications mathématiques à l’économie politique
Bowley, A. L. Mathematical Groundwork of Economics
Bridgman, P. W. The Logic of Modern Physics
Cassel, Gustav Theory of Social Economy
Fundamental Thoughts on Economics
Cournot, A. A. The Mathematical Theory of Wealth
Théorie des richesses
Cunynghame, H. Geometrical Political Economy
Del Vecchio, Gustavo La Dinamica Economica Di H. L. Moore—in Giornale degli Economisti, Anno XLV, Giugno, 1930, VIII, No. 6, pp. 545-554.
Dicey Law and Opinion in England
Edgeworth, F. Y. Mathematical Psychics
Papers relating to Political Economy
Evans, G. C. Mathematical Introduction to Economics
Fisher, Irving Mathematical Investigations in the Theory of Value and Prices,—in Transactions of the Connecticut Academy of Arts & Sciences (9-10) pp. 1-125.
Giornale degli Economisti Aug. & Oct., 1924
Halévy, Élie La formation du radicalism philosophique
Hobson, E. W. The Domain of Natural Science
Jevons, W. S. Theory of Political Economy
Journal of the American Statistical Association Dec. 1923; March & Dec. 1924; Dec. 1926 (Papers by H. L. Moore)
Journal of Political Economy Oct. & Dec. 1925; April 1927
Marshall, Alfred Principles of Economics
Industry and Trade
Money, Credit and Commerce
Moore, Henry L. Laws of Wages
Economic Cycles
Forecasting the Yield & the Price of Cotton
Generating Economic Cycles
Synthetic Economics
Moret, Jacques L’emploi des mathématiques en économie politique
Nicol, A. J. Partial Monopoly and Price Leadership (Privately published)
Pantaleoni, M. Pure Economics
Pareto, Vilfredo Manuel d’économie politique
Cours d’économie politique
Anwendung der Mathematik auf National Ökonomie, —in Encycl. Mathematisch, Wissenschaft, I G 2, pp. 1094-1170
Économie mathématique, —in Encyclopédie des sciences mathématique, Tome I, vol. 4 (Fascicule 4, pp. 590-640)
The New Theories of Economics, —in Journ. Polit.Econ., Sept. 1897
Traité de sociologie générale
Pearson, Karl Grammar of Science
Pietri-Tonelli, Alfonso Traité d’économie rationelle
Pigou, Alfred [sic, Arthur] Economics of Welfare
Planck, Max A Survey of Physics
Poincaré, Henri Foundations of Science
Political Science Quarterly Vol. XXXIII, June, 1918, No. 2, pp. 164-5 (Paper by Mitchell)
Quarterly Journal of Economics Jan. 1898; Aug. 1925; Nov. 1926; March 1927
Revue d’histoire des doctrines économique et sociales 1910 (Article by Antonelli on Léon Walras)
Revue d’histoire économique et sociale 1924, pp. 225-43
Revue de metaphysique et de morale (13) 1905 (Section on Cournot)
Ricci, Umberto Die statistischen Gesetze des Gleichgewichtes nach Henry Schultz—in Zeitschrift für Nationalökonomie, January, 1931
Schultz, Henry Statistical Laws of Demand and Supply
Marginal Productivity and the General Pricing Process, —Journ. Polit. Econ., Oct. 1929
Der Sinn der statistischen Nachfragekurven
Vinci, Felice “Sui Fondamenti della Dinamica Economica”, Rivista Italiana di Statistica, Anno II, No. 3, Luglio-Settembre, 1930—VIII, pp. 222-268
Walras, Léon Économie politique appliquée
Économie sociale
Élèments d’économie politique
Wicksteed, Philip The Alphabet of Economic Science
Common Sense of Political Economy
Stephen, Leslie The Utilitarians
Zawadzki, Wl. Les mathématiques appliquées à l’économie politique
Zeuthen, F. L. Problems of Monopoly and Economic Welfare
[handwritten addition] Weinberger, Otto Mathematische Sozialwissenschaft

 

________________________________

Economics 402
Prof. Henry Schultz

REFERENCES ON COST THEORY

Marshall, A.—Principles of Economics, 8th ed., Book V, Chap. V.

Ricci, Umberto—“Curve piane di offerta dei prodotti”, Giornale degli Economisti, Vol. 33, September, 1906, pp. 223ff.

————- “Elasticita dei Bisogni delli Domanda e dell’ offerta,” Giornale degli Economisti, August and October, 1924.

Edgeworth, F. Y.—“The Laws of Increasing and Diminishing Returns”, in Papers Relating to Political Economy, Vol. I, pp. 61-99.

Young, Allyn A.—“Pigou’s Wealth and Welfare”, Quarterly Journal of Economics, Vol. XXVII, 1913, pp. 672ff.

Fanno, Marco—Contributo alla Teoria dell’offerta a costi conqiunti, Rome, 1914.

Clapham, J. H.—“On Empty Economic Boxes”, Economic Journal, Vol. 32, September, 1922, pp. 304-314.

Pigou, Prof. A. C.—“Empty Economic Boxes: A Reply”, Economic Journal, Vol 32, December 1922, pp. 458 ff.

Clapham, J. H.—“The EconomiC Boxes—a Rejoinder”, Ibid.

Knight, F. H.—“Some Fallacies in the Interpretation of Social Costs”, Quarterly Journal of Economics, Vol. 38, 1924, pp. 582ff.

Sraffa, P.—“Sulle relazioni fra costo e quantità prodotta,” Annali di Economia, Bd. II, 1925.

————- “The Laws of Return under Competitive Conditions”, Economic Journal, Vol. 36, December, 1926, p. 535.

Papi, G. U.—Sul costo di produzione nei cicli economica, Rome, 1926.

Del Vecchio, G.—“Il costo quale element della theoria economica,” Giornale degli Economisti, Vol. 67, March, 1926, p. 167.

Robertson, D. H.—“Those Empty Boxes,” Economic Journal, Vol. 34, 1927.

Barone—Grunzüge der theoretischen Nationalökonomie, Bonn, 1927. (Translated by H. Staehle)

Cabiati—“Per riempire alcune ‘empty boxes’ finanziarie,” Giornale degli Economisti, 1928.

Pigou, A. C.—“An Analysis of Supply”, Economic Journal, Vol. 38, June, 1928, p. 238.

Shove, G. F.—“Varying Costs and Marginal Net Products,” Economic Journal, Vol. 38, June, 1928, p. 258.

Robbins, Lionel,–“The Representative Firm”, Economic Journal, Vol. 38, September, 1928, p. 387.

Young, Allyn A.—“Increasing Returns and Economic Progress”, Economic Journal, December, 1928.

Schultz, Henry—Statistical Laws of Demand and Supply, 1928, Chap. IV.

————- “Marginal Productivity and the General Pricing Process”, Journal of Political Economy, Vol. 27, October, 1929, p. 505.

Amoroso, Luigi—“La Curva Statica di offerta”, Giornale degli Economisti, January, 1930.

Robertson, D. H., Shove, G.F., and Sraffa, P.—“Increasing Returns and the Representative Firm: a Symposium”, Economic Journal, Vol. 40, March, 1930, pp. 79ff.

Morgenstern, Oskar—“Offene Problem der Kosten- und Ertragstheorie”, Zeitschrift für Nationalökonomie, Band II, Heft 4, March, 1931, pp. 481ff.

Harrod, R. F.—“Notes on Supply, Economic Journal, Vol. 40, June, 1930, pp. 232 ff.

 

________________________________

Economics 402

Prof. Henry Schultz

REFERENCES ON MONOPOLISTIC COMPETITION

Cournot, A. A.—Mathematical Principles of the Theory of Wealth, (1838) Bacon’s Translation, Chaps. V-VIII.

Edgeworth, F. Y.—Mathematical Psychics, London, 1881, pp. 20 ff.

————- “Teoria pura del monoplio”, Giornale degli Economisti, November, 1897, pp. 13-31.

————- “The Pure Theory of Monopoly” and

————- “Professor Seligman on the Theory of Monopoly”, in Papers Relating to Political Economy, Vol. I, pp. 111-171.

Bertrand, Joseph—“Review of Walras and Cournot”, Journal des Savants, Paris, September, 1883, pp. 499-508.

Marshall, Alfred—Principles of Economics, 8th edition, Chap. XIV.

Pareto, Vilfredo—Cours d’économie politique, 1909, pp. 595-602.

————- Manuel d’économie politique, 1909, pp. 595-602.

————- “Économie mathématique”, Encyclopédie de Sciences mathématiques, Tome I, Vol 4, Fascicule 4 (1911), paragraph 14, pp. 604-608.

Fisher, Irving—“Cournot and Mathematical Economics”, Quarterly Journal of Economics, January, 1898, p. 126.

Moore, Henry L.—“Paradoxes of Competition”, Quarterly Journal of Economics, Vol. XX, 1906, pp. 211 ff.

Zawadski, Wl.—Les mathématiques appliquées à l’économie politique, Paris, 1914, pp. 68-75.

Amoroso, Luigi—Lezioni di Economia mathematica, 1921, pp. 254-272.

————- “La Curva Statica di offerta”, Giornale degli Economisti, January, 1930, especially pp. 11-20.

Edgeworth, F. Y.—Review of Amoroso’s Lezioni, Economie Journal, September, 1922, p. 400.

Clark, J. M.—Economics of Overhead Costs, 1923.

Bowley, Arthur L.—The Mathematical Groundwork of Economics, 1924, p. 38.

Young, Allyn A.—Review of Bowley, Journ. Amer. Stat. Assn., Vol. XX, March, 1925, p. 134.

Myrdal, Gunnar—“Prisbildnings Problemet och Föränderligheten”, Uppsala, 1927.

Wicksell, Knut—“Mathematische Nationalökonomie”, Arch. f. Sozialwiss. u. Sozialpol., 1927, pp. 252 ff.

Schumpeter, Joseph—“Zur Einführung der folgenden Arbeit Knut Wicksells”, Arch. f. Sozialwiss. u. Sozialpol., 1927.

Bowley, A. L.—“Bilateral Monopoly,” Economic Journal, Vol. 38, Dec., 1928, pp. 651 ff.

Schumpeter—“The Instability of Capitalism”, Economic Journal, 1928, pp. 369-70.

Hotelling, Harold—“Stability in Competition”, Economic Journal, Vol. 39, March, 1929, pp. 41-57.

Chamberlin, E. H.—“Duopoly: Value Where Sellers Are Few”, Quarterly Journal of Economics, Vol. XLIV, No. 1, Nov., 1929.

Pigou, Alfred [sic, Arthur]—Economics of Welfare, 3d edition, 1929, Chaps. XIV-XVII.

Evans, G. C.—Mathematical Introduction to Economics, 1930, Chaps. I and III [handwritten note “add solutions (Duopoly)”]

Nichol, Archibald Jamieson—“Partial Monopoly and Price Leadership,” 1930. (Published by the author.)

Schneider, Erich—“Zur Theorie des mehrfachen Monopols, insbesondere der des Duopols”, Archiv. f. Sozialwiss. u. Sozialpol., Vol. 63, Heft 3, 1930, pp. 539-555.

————- “Drei Probleme der Monopoltheorie”, Zeitschrift für Nationalökonomie, Band II, Heft 3, January, 1931, pp. 376-386.

Zeuthen, F.—Problems of Monopoly and Economic Warfare, London, 1930.

 

 

Source: Albert G. Hart Papers. Box 60, Folder “H. Schultz. Math Ec”. Rare Book and Manuscript Library. Columbia University.

Categories
Courses Harvard Syllabus

Harvard Economics. Econ 7b. Single Tax, Socialism, Anarchism. Readings. Carver. 1919-20

According to the Harvard Annual President’s Report (p. 90), this course was taught by Thomas Nixon Carver in the second semester of the academic year 1919-20. Attending the course were 10 graduate students; 13 seniors, 29 juniors, 11 Sophomores, 1 Freshman; 14 students from other departments/divisions.

Course final examination questions are available here.

____________________________________

 

In the Official Register of Harvard University (Vol. XVI, October 30, 1919, No. 45) Division of History, Government, and Economics, 1919-20 (Second Edition, p. 64): The official course title was “The Single Tax, Socialism, Anarchism” and met Mondays, Wednesdays, Fridays at 10 a.m.

Economics 7b: “A critical study of the theories which underlie some of the more radical programmes of social reform. An examination also of the social utility of private property in its various forms; also some attention to the concept of justice in economic relations; the concept of progress; the significance of conservatism and radicalism.”

 

____________________________________

 

Source: Harvard University Archives. HUC 8522.2.1. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 1. Folder: 1919-1920.

 

ECONOMICS 7b
SOCIALISM

Starred references are required

GENERAL WORKS, HISTORICAL

  1. *R. T. Ely. French and German Socialism.
  2. Bertrand Russell. German Social Democracy.
  3. John Rae. Contemporary Socialism.
  4. Thomas Kirkup. A History of Socialism.
  5. William Graham. Socialism, New and Old.
  6. Jessica B. Peixotto. The French Revolution and Modern French Socialism.
  7. B. Guthrie. Socialism Before the French Revolution.
  8. Hillquit. History of Socialism in the United States.
  9. Jessie W. Hughan. American Socialism of the Present Day.

 

GENERAL WORKS, EXPOSITORY AND CRITICAL

  1. *O. D. Skelton. Socialism, A Critical Analysis.
  2. E. Le Rossignol. Orthodox Socialism.
  3. Albert Schaeffle. The Quintessence of Socialism.
  4. Albert Schaeffle. The Impossibility of Social Democracy.
  5. T. Ely. Socialism: an Examination of its Nature, Strength and Weakness.
  6. James Mackaye. The Economy of Happiness.
  7. Henry M. Hyndman. The Economics of Socialism.
  8. Gustave Simonson. A Plain Examination of Socialism.
  9. Werner Sombart. Socialism and the Social Movement in the Nineteenth Century.
  10. Émile Vandervelde. Collectivism.
  11. Flint. Socialism.
  12. D. P. Bliss. A Handbook of Socialism.
  13. Jessie W. Hughan. The Facts of Socialism.
  14. de Laveleye. The Socialism of Today.
  15. Böhm-Bawerk. Karl Marx—The End of his System.
  16. E. Walling. The Larger Aspects of Socialism.
  17. P. Orth. Socialism and Democracy in Europe.
  18. John Spargo. Socialism.

 

TYPES OF SOCIALISTIC PROPAGANDA

I. IDEALISTIC. The appeal is made to all classes on the ground of piety, a sense of justice, or of sympathy for the laboring classes.

A. Religious. The religious motive is invoked in behalf of human brotherhood.

  1. Les Paroles d’un Croyant.
  2. Washington Gladden. Tools and the Man.
  3. Josiah Strong. Our Country.
  4. Josiah Strong. The New Era.

B. Fulminations. A thundering discontent with things as they are, with no very definite program for improvement.

  1. William Morris, Poet, Artist, Socialist. Edited by Francis Watts Lee. A collection of the socialistic writings of Morris.
  2. John Ruskin, the Communism of John Ruskin. Edited by W. D. P. Bliss. Selected chapters from Unto this Last, The Crown of Wild Olive, and Fors Clavigera.
  3. Thomas Carlyle, The Socialism and Unsocialism of Thomas Carlyle. Edited by W. D. P. Bliss. Selected chapters from Carlyle’s Various Works.

Socialism and everything resembling it were even more abhorrent to Carlyle than the present system.

   C. Utopian. Pictures of ideal Commonwealths.

  1. Plato’s Republic.
  2. Sir Thomas More. Utopia.
  3. Francis Bacon. New Atlantis.
  4. Tommaso Campanella. The City of the Sun. (Numbers 2, 3, and 4 may be found in convenient form in Morley’s Ideal Commonwealth.)
  5. Etienne Cabot. Voyage en Icarie.
  6. William Morris. News from Nowhere.
  7. Edward Bellamy. Looking Backward.
  8. Laurence Gronlund. The Cooperative Commonwealth.
  9. H. G. Wells. A Modern Utopia.

 

D. Experimental.

There were men and women who had so much confidence in socialism as to believe that it was only necessary to start it to insure its success. They believed that if the world could be given an example of socialism in operation, it would be led to adopt it.

  1. Charles Nordhoff. The Communistic Societies of the United States.
  2. Karl Kautsky. Communism in Central Europe in the Time of the Reformation.
  3. *W. A. Hinds. American Communities.
  4. H. Noyes. History of American Socialisms.
  5. T. Codman. Brook Farm Memoirs.
  6. Albert Shaw. Icaria.
  7. B. Landis. The Separatists of Zoar.
  8. O. Randall. History of the Zoar Society.

E. Opportunist.

  1. *Bernard Shaw and others. The Fabian Essays in Socialism.
  2. The Fabian Tracts.
  3. Edward Bernstein. Ferdinand Lassalle.
  4. Sidney and Beatrice Web. Problems of Modern Industry.
  5. C. K. Gonner. The Socialist Philosophy of Rodbertus.
  6. C. K. Gonner. The Socialist State.
  7. Vladimir G. Simkhovitch. Marxism versus Socialism.
  8. Ramsay Macdonald. Socialism.
  9. Sidney A. Reeve. The Cost of Competition.
  10. Edward Bernstein. Evolutionary Socialism.
  11. H. G. Wells. New Worlds for Old.

 

II.  MARXIAN. Believing that every man will work for his own material interests, and that in any capitalistic society, the laboring classes must sooner or later outnumber all others, the appeal is made, not to idealistic sentiments, but to the conscious self interest of the laboring classes. In their own interest they are to overthrow the present economic system and so up a socialistic system.

A. Theoretical

  1. Karl Marx. Capital.
  2. Frederic Engels. Socialism, Utopian and Scientific.
  3. Labriola. Essays on the Materialistic Conception of History.

 B.  Propagandist

(a) Political. Reliance is placed upon the voting power of the masses.

  1. Karl Marx and Frederic Engels. The Manifest of the Communist Party.
  2. Karl Kautsky. The Social Revolution.

(b) Militant. Reliance is placed upon the physical power of the masses. Ignore the state! The ballot is too slow!

(1) Bolshevist.

  1. Austin Lewis. The Militant Proletariat.
  2. Beatty, B. Red heart of Russia. Century, 1918.
  3. Bryant, L. Six red monthsin Russia. Doran, 1918.
  4. Petrunkevich, A. I. et al. Russian Revolution. Harvard University Press, 1918,
  5. Radzwill, C. Rasputin and the Russian revolution. Lane, 1918.
  6. Russell, C. E. Unchained Russia. Appleton, 1918.
  7. Sack, A. J. Birth of the Russian Democracy. Russian Information Bureau, 233 Broadway, N. Y.
  8. Trotzky, Leon (Bronshtein, L. D.). The Bolsheviki and World Peace, N. Y., 1918.
  9. Trotzky, Leon (Bronshtein, L. D.). Our Revolution; Essays on Working Class and International Revolution, N.Y., 1918.

(2) Syndicalist.

  1. Challange, Felicien. Syndicalisme revolutionaire et Syndicalisme reformiste. Paris. F. Alcan. 1909. 156 pp.
  2. Delivet, Emile. Les employées et leurs corporations. Paris. River. 1909.
  3. Dufor, ——-—-. Le syndicalisme et la prochaine revolution. Paris. M. Rivier. 1913.
  4. Estey, J. Revolutionary syndicalism; an exposition and a criticism. London. P. S. King. 1913.
  5. Garriguet, L. L’Évolution actuelle de socialisme en France. Paris. 1912.
  6. Harley, John H. Syndicalism. London & N. Y. Dodge Pub. 1912. 94pp.
  7. Kirkaldy, Adam W. Economics and syndicalism. University Press. Cambridge. 1914. 140 pp.
  8. MacDonald, James R. Syndicalism, a critical examination. 1913. Chicago. Open Court Pub. 74 pp.
  9. Pataud, Emile. Syndicalism and the cooperating commonwealth. Preface by Kropotkin. Oxford. 1913. 240 pp.
  10. Snowden, Philip. Socialism and Syndicalism. London. 1913. 262 pp.
  11. Spargo, John. Syndicalism, industrial unionism and socialism. N. Y. Huebsch. 1913. 243 pp.
  12. Ware, Fabian. The worker and his country. London. 1912. 288 pp.

(3) The I. W. W.

  1. Brissenden, Paul F. The launching of the Industrial Workers of the World. University of California Press. 1913. 82 pp. contains bibliography.
  2. *Brooks, John G. American synclicalismn. N. Y. Macmillan. 1913. 264 pp.
  3. De Leon, Daniel. Preamble of the I. W. W. address at Union Temple, Minneapolis. July 10, 1905. N. Y. Labor News Co. 48 pp.
  4. Trautman, William E. Direct. action and sabotage. Pittsburg Socialist News Co. 1912. 43 pp.

 

ANARCHISM

I. PHILOSOPHICAL. A more or less reasoned belief that the abolition of government, especially of government by force, would remove most of the ills of society. Clear in its perception that all government rests upon force; unclear in its reasoning to the conclusion that the use of force is wrong; divided in opinion as to the results of abolishing government.

A. Anarchist Communism. Seeing that property rights are the creation of government, it is concluded that the abolition of government would automatically abolish property and restore communism, and that the masses would pounce upon and destroy anyone who thereafter dared to call anything his own.

  1. J. Proudhon. What is Property?
  2. William Godwin. Political Justice.
  3. Peter Kropotkin. Memoirs of a. Revolutionist.
  4. Peter Kropotkin. The Scientific Basis of Anarchy. Nineteenth Century, 21: 218.
  5. Elisée Reclus. Evolution et revolution.
  6. William M. Salter. Anarchy or goveminent? An inquiry in fundamental government.
  7. H. Van Ornum. Why Government at all?
  8. Ernst V. Zenker. Anarchism; a criticism and history of the anarchist theory.
  9. Paul Boilley – Les Trois Socialismes; Anarchisme, Collectivism. Reformisme.
  10. Peter Kropotkin. La Science moderne et L’Anarchie.
  11. Peter Kropotkin. The Anarchy. Nineteenth Century, 22: 149.
  12. *Leo Tolstoi. The Slavery of Our Times.
  13. Elissee Reclus. Anarchy. Contemporary Review. 14: 627.
  14. Josiah Warren. Equitable Commerce.
  15. Josiah Warren. True Civilization as Immediate Necessity.

 

B. Exaggerated Individualism. There should he no restraint either moral or legal, upon the strong whose “ right ’ to govern and exploit the weak is the only natural or divine right there is. Nature abhors weakness and it is the mission of the strong to exterminate the weak, to the end that weakness may cease to exist and that strength alone may survive. Moral and legal codes are the inventions of the weak to protect themselves from the strong in order that weakness may fill the world with its own spawn.

  1. *Max Stirner (pseudonym for Kaskar Schmidt). Der Einzige und sein Eigenthum.
  2. Friederich Nietzsche. Also sprach Zarathustra.
  3. Friederich Nietzsche. Jenseits von Gut and Böse.
  4. James G. Huneker. Egoists: A Book of Supermen.

 

II. EMOTIONAL. A mere explosive protest against all forms of authority, particularly against the police power and other visible manifestations of authority.

  1. Mikhail Bakunin. Dieu et l’Etat.
  2. Emma Goldman. Anarchism and other Essays.
  3. Paul Eltzbacher. Anarchism.
  4. Hunter and R. Wiles. Violence and the Labor Movement.
  5. Krouse. The Anarchist Constitution.
  6. John H. Mackay. The Anarchists; a picture of civilization at the close of the 19th century.
  7. R. Parsons. Anarchism; its philosophy and scientific basis as defined by some of its apostles.
  8. R. Tucker. Anarchism; the attitude of anarchism toward industrial combinations.
  9. United States Department of Justice. Transmission through the Mails of Anarchistic publications. Message from the President. Washington. 1908.

 

THE SINGLE TAX

All public revenues shall be raised from a single tax on land values.

  1. *Henry George. Progress and Poverty.
  2. Henry George. Our Land and Land Policy.
  3. Alfred Russell Wallace. Land Nationalization.
  4. Thomas G. Shearman. Natural Taxation.
  5. Louis F. Post. The Single Tax.
  6. B. Fillebrown. A Single Tax Catechism.
Categories
Chicago Courses Economists Socialism Syllabus

Chicago Economics. Economics 354. Types of Econ Organization. Douglas. 1938

This is the Chicago version of the course taught at Harvard by Cummings, Carver and then Mason.

The Spring Quarter  of 1938 began March 28. The lecture notes taken by Norman M. Kaplan are for this course that met Tuesdays and Thursdays with his notes dated Mar 29, Mar 31, Apr 5, Apr 12, Apr 19, Apr 21, Apr 26, Apr 28, May 3, May 5, May 10, May 12. Hence we can be certain that the following (undated) syllabus with bibliography was for the Spring, 1938 course taught by Paul H. Douglas.

To those with an eye on contemporary U.S. politics: examining this reading list, one wonders if a professor like this today could imagine getting elected into the U.S. Senate! Perhaps Elizabeth Warren fits the bill but the bench looks pretty shallow…

________________________

H. SOCIAL DIRECTION AND CONTROL OF ECONOMIC ACTIVITY
[…]

  1. Types of Economic Organization.—An examination of the various forms of economic organization that have been proposed, including the utopias, individualism, Marxian socialism, collectivism, the single tax, syndicalism, guild socialism, communism, capitalism, and fascism. Prerequisite: Economics 209 [Intermediate Economic Theory: “A course designed for undergraduates majoring in Economics who have completed the other Departmental requirements for the degree and for graduate students with limited training in systematic theory. It deals with the factors controlling production, value and relative prices, and distribution.” Taught by Paul Douglas (Winter)], or its equivalent, Spring, Tu., Th., 3:30-5:30, Douglas.

Source: Announcements. The University of Chicago. The College and the Divisions for the Sessions of 1937-1938. p. 307.

________________________

Topics and Assigned Reading for Economics 354
Types of Economic Organization

[Spring Quarter, 1938]

The three main divisions of the course, with the basic assigned reading to be covered under each, are as follows:

I.  The Development of Utopian Thought – (2 weeks.)

  1. Plato and the “Republic.”
  2. Thomas More’s “Utopia.”
  3. The economic doctrines and activities of Robert Owen.
  4. French Utopian Socialism: Fourier, Cabet, and Saint-Simon (omitted 1937).

Assigned reading: (1) Plato, The Republic: Sections 368-374 of Book II, Sections 412-417 of Book III, Books IV and V entire; (2) More’s Utopia, Book II; (3), Owen’s Autobiography, or one of the better lives of Owen, such as those by Podmore [vol. 1, vol. 2], Cole and McCabe. [Handwritten addition: “Aristotle, Politics, Bk. II (1st 6 paragraphs)”]

Supplementary reading: 1) Aristotle, Politics, Sections 1-7; (2) Ernest Barker, Greek Political Thought—Plato; (3) Chambers, Thomas More; (4) Campenalla, The City of the Sun; (5) Bacon, New Atlantis; (6) Robert Owen, A New View of Society, etc.; (7) Charles Gide, Morceaux Choisis de Charles Fourier; (8) Cabet, Voyage en Icarie; (9) Bellamy, Looking Backward; (10) William Morris, News from Nowhere.

 

II. The Economic and Social Doctrines of Karl Marx (4 weeks)

  1. The differences between Marxism and Utopianism.
  2. The economic or materialistic interpretation of history.
  3. The labor theory of value; the theory of surplus value; and the alleged “great contradiction.”
  4. The theory of the final cataclysm.
  5. An appraisal of Marx’ thought.

Assigned reading: (1) Marx and Engels, Communist Manifesto; (2) Engels, Socialism—Utopian and Scientific; (3) Marx, Value, Price and Profit, sections VI-XIV; Marx, Capital, Vol. I, chapters I—sections 1 and 2, and A of section 3; VI, VII, VIII, IX, X, XI, XII, XVI, XVII, XIX; Vol. III, last pages of chapter VIII and chapter IX; Book I, chapters XXV and (XXXII).

Supplementary reading: (1) Marx Capital, Vol. I, chapter XV; (2) Rühle, Karl Marx, or Mehring, Life of Marx; 3) Marx, Contribution to a Critique of Political Economy; (4) Hook, Towards and Understanding of Karl Marx; (5) Joseph, Karl Marx’ Theory of Value [sic, The Labour Theory of Value in Karl Marx, 1923]; (6) Böhm-Bawerk, Karl Marx and the Close of His System; (7) Bernstein, Evolutionary Socialism. (8) De Man, Psychology of Socialism.

 

III. The development of Proposals and Movements for Organizing Economic and Social Life. (In the main, post-Marxian). (4 weeks)

  1. The theory and practice of capitalism.
  2. Collectivism.
  3. Anarchism, syndicalism and guild socialism.
  4. Cooperation.
  5. The Single Tax.
  6. Modern Communism.
  7. Fascism.

Because of reasons of time, topics 3,4 and 5 will be scantily treated and may indeed be omitted.

Assigned reading. The material on these topics is, of course, enormous. The best treatment of collectivism is given in Fabian Essays (1888) by Webb, Shaw, Wallas, etc., and in Bernard Shaw’s The Common Sense of Municipal Trading. On anarchism: Proudhon and Kropotkin are the most suggestive writers. On cooperation, Beatrice Potter’s (Mrs. Webb) The Consumers Cooperative Movement in Great Britain; Beatrice and Sydney Webb, The Consumers Cooperative Movement; Gide, Consumers Cooperative Societies; Childs, Sweden—The Middle Way; Howe, Denmark—The Cooperative Way; are excellent.

All students of communism should read Lenin, The State and Revolution; and the two-volume work by Beatrice and Sydney Webb, Soviet Communism. See also the new constitution of Russia, reprinted by the Carnegie Foundation for International Peace.

On fascism, see Finer, Mussolini’s Italy; Mussolini, “Fascism,” in the Italian Encyclopedia; and Hitler’s Mein Kampf, to be read if possible in the original German instead of the expurgated English and American editions.

The principles of liberalism are well stated in the writings of Jefferson; John Stuart Mill, Liberty; Representative Government, etc.; Wilson, The New Freedom; Brandeis, The Curse of Bigness; Franklin Roosevelt; etc.

Supplementary reading: (1) For an able criticism of socialism and a defense of individualism, see Ludwig von Mises, Socialism; (2) Beer, History of British Socialism; (3) Norman Thomas, America’s Way Out; (4) Sidney and Beatrice Webb, A Constitution for the Socialist Commonwealth of Great Britain; (5) Levine, Syndicalism in France; (6) Cole, Guild Socialism; (7) Henry George, Progress and Poverty, especially Books V, VI, VII, VIII and IX; (8) Trotsky, The Russian Revolution; (9) Chamberlin, The Russian Revolution; (10) Seldes, Sawdust Caesar; (11) Salvemini, Under the Axe of Fascism; (12) Heiden, Life of Hitler; (13) Heiden, History of National Socialism; (14) Florinsky, Fascism and National Socialism; (15) Schuman, Nazi Germany; (16) Strachey, The Coming Struggle for Power; (17) Davis (editor) Modern Social Movements.

A somewhat fuller bibliography is appended.

________________________

 

SELECTED BIBLIOGRAPHY FOR POLITICAL ECONOMY 354
TYPES OF ECONOMIC ORGANIZATION

(Best References Starred)

1. Utopian

More, Thomas. Utopia
*Plato, The Republic (Benjamin Jowett, Trans.)
Barker-Ernest. Greek Political Theory
Aristotle. The Politics
Latimore-More. English Reprints
Engels, Frederick. Socialism, Utopian and Scientific
*Bacon, Francis. New Atlantus
*Campenella, Tomasso. The City in the Sun
*Morley, Ideal Commonwealths
Andrae, Christian Opolis
Owen, R. D. Threading My Way
Lockwood. The New Harmony Movement
Herzler, J. O. History of Utopian Thought
Mumford, Lewis. The Story of Utopias
Cabet, Reise Nach Ikarien, V. G.
Wells, H. G. A Modern Utopia
Godwin, Wm. Enquiry Concerning Political Justice
Fourier, Chas. Theorie de l’Unite universelle; Le Nouveau Monde industrial
Saint-Simon, G. Oeuvres de Saint Simon et d’Enfantin
*Morris, William. News from Nowhere
Morris, William. A Dream of John Ball
*Howells, W. D. A Traveller from Altruria
*Ely, R. T. French and German Socialism
*Bellamy, E. Looking Backward
Podmore, Frank. Biography of Robert Owen
*Autobiography of Robert Owen
*Owen, Robert. The Book of the New Moral World
Guthrie, W. B. Socialism before the French Revolution
Peixottot, J. B. The French Revolution and Modern French Socialism
*Hillquit, Morris. History of Socialism in the United States
*Noyes, John Humphrey. A History of American Socialisms
*Nordhoff, Charles. The Communistic Societies of the United States
Hinds, William. American Communities
Shaw, Albert. Icaria –A Chapter in the History of Communism
Kent, Rev. Alexander. Cooperative Communities in the United Status, in Bulletin of Department of Labor, No. 35, July, 1901
Clark, Bertha. The Huterian Brethern. Journal of Political Economy, April and June 1921
Gide, Charles Fourier
Owen. New View of Society
McCabe. Robert Owen
Cole. Robert Owen
Chambers. Thomas More

2. The Economic Interpretation of History

*Marx and Engels. Communist Manifesto
*Marx, Karl. Revolution and Counter-Revolution
*Loria, Achille. Essays on the Materialistic Interpretation of History
*Marx, Karl. The Eighteenth Brumaire of Louis Bonaparte
Kautsky, K. The Class Struggle
Beard, C. A. Economic Interpretation of the Constitution
Beard, C. A. Economic Origins of Jeffersonian Democracy
Engels, Frederick. Socialism, Utopian and Scientific
Engels , Frederick. Condition of the Working Classes in England in 1844
Engels, Frederick. The Roots of the Socialist in Philosophy Feuerbach
Engels, Frederick. Landmarks of Scientific Socialism, Anti-Duhring
Simone, A. M. Class Struggles in America.
Simone, A. M. Social Forces in American History
*Seligman, E. R. A. The Economic Interpretation of History
Seligman, E. R. A. Essay on Problems of Readjustment after the War
Howe, F. C. Why War?
Brailsford, H. N. War of Steel and Gold
Hobson, J. A. Imperialism
Loria, A. Economic Causes of War
Croce, B. The Historical Materialism of Karl Marx
Ogburn, W. F. The Psychological Basis for the Economic Interpretation of History. Supp. Am. Econ. Rev. March 1919
Hansen, A. H. The Technological Interpretation of History. Quarterly Journal of Economics, November 1921
Marx, Karl. The Gotha Program
Marx, Karl. The Poverty of Philosophy
Earl, E. M. The War and The Bagdad Railway
D’Espagnel, P. The World’s Struggle for Oil
Woolf, L. S. Empire and Commerce in Africa
Woolf, L. S. Economic Imperialism
Morel, E.D. Red Rubber
Young, G. Nationalism and War in the Near East
Young, G. The Machinery of Diplomacy
Rai, Laypat, England’s Debt to India
Tawney, Religion and the Rise of Capitalism
S. Hook, Towards an Understanding of Karl Marx
Brailsford, Property or Peace

 

3. Marxian Economics

A.      Marx, Karl. Capital. 3 Vols.

*Marx, Karl. A Critique of Political Economy
*Marx, Karl. Value, Price, and Profit (Popular epitome of Marx’s Theories)
Aveling, Edward. The Student’s Marx
Hyndman, H. M. The Economics of Socialism
Correspondence of Karl Marx and Frederick Engels
**Rühle, Karl Marx
Mehring—Life of Marx
Meyer—Frederick Engels

B.    Pro-Marxian

*Untermann, Ernest. Marxian Economics
*Boudin, Louis. The Theoretical System of Karl Marx

C.     Anti-Marxian

*Bohm-Bawerk, E. Von. Karl Marx and the Close of His System
*Le Rossignol, J. E. Orthodox Socialism
Cross, I. B. Essentials of Socialism
*Skelton, O. D. Socialism, A Critical Analysis. Pp. 95-137
*Le Rossignol, J. E. What in Socialism?
Scott, J. R. Karl Marx on Value
Joseph. Labor Theory of Value in Karl Marx.

D.    Pre-Marxian Economic Theories

*Menger, Anton. The Right to the Full Produce of Labor. (A review of labor theories, and a belittling of Marx’s originality.)
*Lowenthal, Esther. The Ricardian Socialists
*Whitaker, A. O. The Labor Theory of Value
Beer, Max. A History of British Socialism, Vol. I, pp. 182-270
Gonner, E. C. K. The Social Philosophy of Rodbertus
Ricardo, David. Principles of Political Economy and Taxation

 

4. Marxian Predictions of the Economic Development of Capitalism

A.     Large-scale Industry

*Bernstein, E. Evolutionary Socialism
*Simkhovitch, V. G. Marxism vs. Socialism
*Rubinow, S. M. Was Marx Wrong?
Dewing, A. S. A Statistical Text of the Success of Consolidation, Quarterly Journal of Economics, Nov. 1921. Vol. XXXVI.
Berle and Means: The Modern Corporation.
Bernheim – Big Business

B.    Agriculture

Department of Agriculture: The Economic Basis of the Agricultural Adjustment Act
Bernstein, Simkhovitch and Robinow as above
Stewart, C. L. Land Tenure in the United States
Bogart, E. L. Farm Ownership in the United States, Jour. Pol. Econ., Vol. XVI
Simons, A. M. The American Farmer
David, Edward. Socialism and Land Wirtschaft
Benjamin. Socialists and the Agrarian Question, Jour. Pol. Econ., June, 1926

 

C.    Distribution of Wealth – (Marx’s Theories of Increasing Misery and the Disapperance of the Middle Class Considered)

(1) United States

*Nationa1 Bureau of Economic Research. Income in the United States
King, W. Wealth and Income of the People of the United States
Nearing, Scott. Income
Nearing, Scott. Financing the Wage-Earner’s Family
Streightoff, F. H. Distribution of Wealth in the United States
More, L. B. Wage Earner’s Budgets
Chapin, R. C. Standard of Living in New York City
Kennedy, J. C. Standard of Living in Stockyards District
Streightoff, F. H. Standard of Living of Industrial People in United States
Ryan, J. A. A Living Wage
Ryan, J. A. Distributive Justice. Economic Review, September 1921
Soule, George. The Productivity Factor in Wage Determination. American Economic Review: Supplement. 1925, pp. 129-40, Vol. 13. (1925)
Federal Trade Commission: National Wealth and Income
Nearing, Scott. Wages in the United States.
Federal Trade Commission, National Wealth and Income.
Leven, Moulton & Warburton. America’s Capacity to Consume
Douglas. Real wages in the United States, 1890-1926
Douglas and Dennison. The Movement of Money and Real Wages, 1926-1928
Houghteling. The Income and Standard of Living of the Unskilled Laborer in Chicago

(2) England

Stamp, J. C. British Incomes and Property
Rountree, B. S. Poverty – A Study of Town Life
Booth, Ch. A Summary of the Life and Labor of the People of London
Bowley. The Change in the Distribution of the National Income 1880-1913
Bowley, A. L. The Division of the Product of Industry
Stamp, J. C. Wealth and Taxable Capacity of Great Britain
Smith and others. A New Survey of London Life and Labour. 10 vols.
Clark. The National Income

(5) Other Countries

Bägge. Wages in Sweden. 1860-1930.
Kuczynski, J. Die Entwicklung der Lage der Arbeiterschaft, 1870-1933
Kuczynski, J. Löhne und Konjunktur in Deutschland, 1887-1932
Kuczynski, J. Die Entwicklung der Löhne in Frankreich und Belgien, 1895-1933.
Simiand, F. Le Salaire. 3 vols.

D.    Unemployment (The Industrial Reserve Army)

Pigou, A. C. Unemployment
Beveridge, W. C. Unemployment
Poyntz and Webb. Seasonal Trades
American Association of Labor Legislation. Unemployment survey, 1915.
Barnes, C. B. The Longshoremen
Webb, S. and B. The Minority Reports of the Poor Law Commission
Berridge, W. A. Cycles of Employment
Hobson, J. A. The Economics of Unemployment
Cole, G. D. H. Out-of-Work
Douglas and Director. The Problem of Unemployment

E.    Crises

Mitchell, W. C. Business Cycles
Jugler, C. A Brief History of Panic
Moore, H. L. Economic Cycles
*Rodbertus, K. J. Over Production and Crises. (Translated by Frank)
Foster and Catchings, Profits
Douglas. Controlling Depressions
Mills. Economic Tendencies in the United States
Hayek. Prices and Production
Strachey. The Nature Of Capitalist Crisis
Pigou. Industrial Fluctuations
Schumpeter. Theory of Economic Development
Martin. The Limited Market
Keynes—The General Theory of Employment, Interest, and Money.

 

5. The Socialist Movement in Various Countries

A.    General

Postgate, R. W. Revolution
*Laideer, H. W. Socialism in Thought and Action
*Kirkup, F. History of Socialism (authoritative and reliable)
Ensor, R. C. K. Modern Socialism (gives important extracts showing attitude of Socialists in different countries)
*Walling, Stokes, Hugan, Laidler. The Socialism of Today (invaluable study of present-day tendencies in all countries)
Postgate, R. W. The Workers International
Guillaume, J. L’Internationale, 4 vols.
Hunter, Robert. Violence and the Labor Movement
De Montgomery, B. G. British and Continental Labour Policy
Shadwell. The Socialist Movement, 2 vols.
Fainsod, International Socialism During the War

B.  Specific

(1) Germany

Russell, Bertrand. German Social Democracy
Dawson, W. H. Bismarck and State Socialism
Ely, R. T. French and German Socialism, pp. 156-244
Saunders, W. S. Trade Unionism in Germany

(2) France

Blanc, Louis, L‘Organization du Travail
Jaures, J. Studies in Socialism

(3) Belgium

Bertrand, Louis. Histoire de la Democratie et du Socialisme en Belgique depuis 1830
Douglas, D. W. G. De Greef. The Social Theory of a Syndicalist

(4) England

*Beer, Max. History of British Socialists
Seligman, E. R. A. Owen and the Christian Socialists
Webb, Sidney. Socialism in England
Shaw, Bernard. Early History of the Fabian Society
*Pease, E. R. History of the Fabian Society
Noel, Conrad. The Labor Party
Raven, M. E. The Christian Socialists
Gleason. What the Worker Wants
Blanshard. The British Labor Movement
Chartism in England
Rosenblatt, E. F. The Economic Aspects of Chartism. (Columbia Univ. Studies)
Slosson, P. W. The Decline of Chartism (Columbia University Studies)
West, J. Chartism
Hovell, M. The Chartist Movement
Cammage, R. The Chartist Movement
Life of Willim Lovett
Hofhouse, Stephen. Life of Joseph Sturge
Trevelyan, G. M. Life of Bright
Morley, J. Life or Cobdan

(5) Australasia

*Clark, V.S. The Labor Movement in Australasia.
Le Rossignol and Stewart. State Socialism in New Zealand
Hutchinson, R. H. The State Socialism of Australasia

(6) The United States

Hillquit, Morris. History of Socialism in America
Hughan, Jessie, W. American Socialism of the Present Day
Socialist Congressional Campaign Book, 1914, 1916, 1920; 1928; 1932
Trachtenberg, Alex. Editor. The American Labor Year Book, 1916, 1918, 1919, 1922, etc.
Macy, John. Socialism in America
Benedict, Bertram. The Larger Socialism
Fine. Farmer Labor Parties in American History
Douglas. The Coming of a New Party
Hicks. The Populist Movement.
Thomas. America’s Way Out
Thomas. As I See It

 

6. The Liberal Socialist Ideal

**Russell, B. Proposed Roads to Freedom
*Wells, H. G. New Worlds for Old (A delightful and engrossing book)
*Dickinson, G. Lowes. Justice and Liberty.
*Shaw, Webb, Wallas and others. Fabian Essays (Well written and cogently stated)
*Tawney, R. H. The Acquisitive Society
Walling, W. E. Socialism as It Is
Wells. Mankind in the Making
Wells. This Misery of Booth
Spargo and Arner. Essentials of Socialism
Spargo, John. Socialism (A popular statement by an able supporter)
Spargo, John. Applied Socialism (A constructive attempt to apply the socialist principle to life)
Wells, H. G. and others. Socialism and the great state
Walling, Stokes, Hughan, Laidler. The Socialism of Today
Snowden, P. Socialism and Syndicalism
Hughan, M. The Facts of Socialism
Hillquit, M. Socialism in Theory and Practice
Hillquit, M. Socialism Summed-up
Kautsky, K. The Social Revolution
Schaeffle, A. The Quintessence of Socialism
*Webb, S. and B. A Constitution for the Socialist Commonwealth of Great Britain
Massart and Vandervelde. Parasitism, Organic and Social
*Hunter, Robert. Violence and the Labor Movement
Shaw, Bernard. Socialism and Superior Brains
Wilde, Oscar. The Soul of Man under Socialism
Rauschenbush, W. Christianity and the Social Crisis
Soudder, Vida D. Socialism and Character
Walling, W. E. The Larger Aspects of Socialism
Sellars, R. W. The Next Step in Democracy
*Benedict, Bertram, N. S. The Larger Socialism
Hobson, J. A. Incentives in the New Social Order.
British Labor Party—Labor and the New Social Order
Henderson, Arthur.— The Aims of Labor
Morris, William. Hopes and Fears for Art
Webb, J. and B. The Collapse of Capitalist Civilization
Russell, Bertrand and Dora. The Prospects of Industrial Civilization
Sturt, Henry. Socialism and Character

 

Socialism and War

Walling, W. E. The Socialists and the War (Excellent documentary collection)
Boudin, Louis. Socialism and War
Files of La Guerre Sociale. Edited by Gustav Herve
Kellogg and Gleason. British Labor and the War
Hunter, Robert. Violence and the Labor Movement

 

8. Collectivism

 

*Davies, E. The Collectivist State in the Making
Shaw, Bernard. The Common Sense of Municipal Trading
Clark, W. E. Municipal Ownership in the United States
*Fabian. Report on State and Municipal Enterprise
Holcombe, A. N. Public Ownership of Telephones on the Continent of Europe
Hammeon, J . C. The British Post-Office
Mavor, James. Public Telephones
Gray, H. L. War Time Control of Industry
*Walling and Laidler. State Socialism, Pro and Con
Ise, John. Our National Forest Policy
Guyot, Yves. Where and Why Public Ownership Has Failed
McKaye, James. Yankee Socialism
Cheozza-Money, L. G. The Triumph of Nationalization
Strobel, Heinrich. Socialization in Theory and Practice
Hodges, Frank. The Nationalization of the Mines
De Montgomery, B. G. British and Continental Labour Policy, pp. 476-529
Survey, issue of March l, 1924 on Giant Power
Strobel, Heinrich. The German Revolution
Thompson. Public Ownerships

 

9. Criticisms of Socialism

*Skelton, O. D. Socialism – A Critical Analysis (excellent)
*Schaeffle, A. The Impossibility of Social Democracy (very good)
Ely, R. T. Socialism and Social Reform
Mallock, W. H. A Critical Examination of Socialism
*Mallock, W. H. Aristocracy and Evolution
*Le Rossignol. What Is Socialism?
Ryan-Hillquit. Socialism, Promise or Menace? (See arguments of Father Ryan against Socialism.)
Guyot, Yves. Socialist Fallacies
Guyot, Yves. The Tyranny of Socialism
Leroy-Beaulieu, P. Collectivism
Belloc, H. The Servile State
Hayek (editor) Collective Economics.
Mises. Socialism.

 

10. References on Anarchistic Theory

1. Individualistic

Godwin, Political Justice
Herbert Spencer. Man Versus the State
Donnisthrope. Liberty
Proudhon. Solution of the Social Problem
Tolstoi. What Shall We Do Then?
Tolstoi. The Kingdom of God Is Within You
Tolstoi. My Religion
Tolstoi. Essays
Tucker. Instead of a Book by a Men Too Busy to Write One

2. Communistic

Kropotkin. Fields, Factories, and Workshops
Kropotkin. The Conquest of Bread
Kropotkin. Mutual Aid
Kropotkin. Memoirs of a Revolutionist
Kropotkin. Anarchist Essays

3. Criticism

Shaw. The Impossibilities of Anarchism

 

11. Syndicalism

Levine. The Labor Movement in France
Pataud et Pouget. Comment Nous Ferons la Revolution?
Pouget. Sabotage
Jouhaux. Le Syndicaliam et Le C. G. T.
Brissenden. The I. W. W.

Criticisms

McDonald. Syndicalism
Spargo. Socialism, Syndicalism and Industrial Unionism

 

12. Guild Socialism

Cole. Self-Government in Industry
Cole. Guild Socialism Re-Stated
Hobson. National Guilds
Carpenter. Guild Socialism Re-Stated

 

13. Consumers Cooperation

Gide. The Consumers Cooperative Societies
Beatrice Potter. The Cooperative Movement in Great Britain
S. & B. Webb. The Consumers Cooperative Movement
Catherine Webb. Industrial Cooperation
Maxwell. History of Cooperation in Scotland
Fay. Cooperation at Home and Abroad
Wolff. Cooperation and the Future of Industry
Warbasse. Cooperative Democracy
Sonnichsen. Consumers Cooperation
Warne. Consumers Cooperation in Illinois
Bergengren. People’s Banks
Russell (“A.E.”). The National Being
Childs. Sweden — The Middle Way
Howe. Denmark — The Cooperative Way

 

14. The Single Tax

George. Progress and Poverty
Young. The Single Tax Movement in the United States
Post. The Taxation of Land Values
Post. What is the Single Tax?
Brown. The Taxation of Unearned Incomes

 

15. Modern Communism

A. Description of Theory

Lenin. The State and Revolution
Lenin. Can the Bolsheviks Maintain Power?
Bukarin and Preobrazhensky. The A. B. C. of Communism
Trotsky. In Defense of Terrorism
Postgate. The Bolshevik Theory
Russell. Bolshevik Theory and Practice
Fox. Lenin
Lenin. Collected Works
Stalin. Collected Works

B. Description of Developments in Russia

Trotsky. The Russian Revolution, 2 vols
Farbman. The Five Year Plan
Hindus. Humanity Uprooted
Hindus. Red Bread
Chamberlin. Soviet Russia–The Iron Age [sic, Russia’s Iron Age, 1934]
Karlgren. Bolshevist Russia (hostile)
Antonelli. Bolshevik Russia (Historical and critical)
Chase and Others. Soviet Russia in the Second Decade
Chamberlain. The Russian Revolution, 1917-1921
Hoover. The Economic Organization of Soviet Russia
***Webb, S. & B. Soviet Communism. 2 vols. The best work thus far. Should be read by all students.
Rosenberg. History of Bolshevism
Trotsky. The Revolution Betrayed

C. Critical

Kautsky. The Dictatorship of the Proletariat
Kautsky. Terrorism and Communism

 

16. Fascism

Machiavelli. The Prince
Mussolini. My Life
Hitler. Mein Kampf
Schneider. Making the Fascist State
Dutt. Fascism and Social Revolution
Salvimini. Fascism (hostile)
Strachey. The Coming Struggle for Power
Schuman. The Nazi Dictatorship
Bolton, King. Fascism
Pitigliani. The Italian Cooperative State [1933]
Finer. Mussolini’s Italy
Rosenstock-Franck. L’Économie Corporative en Theorie et Pratique [L’économie corporative fasciste en doctrine et en fait, 1934]
Seldes. Sawdust Caesar
Hoover. Germany Enters the Third Reich
Dennis, Lawrence. The Coming American Fascism
Salvemini. Under the Axe of Fascism
Rosso. The Road to Exile.

17. The Theory of Capitalism

Smith. The Wealth of Nations.
Carver. Essays in Social Justice.
Herbert Hoover. Defense of Liberty,
Pigou. The Economics of Welfare.
Cassel. The Theory of Social Economy.

 

18. Recent Books on Fascism, Communism, Democracy (1938)

A. Fascism

*Borgese, Goliath, The March of Fascism.
*Roberts, The House that Hitler Built.
Schmidt, The Plough and the Sword.

 

B. Communism

*Lyons, Assignment in Utopia.
Beal, Proletarian Journey.
Smith, I was a Soviet Worker.
Trotsky, The Revolution Betrayed.

(All of the above books on communism are hostile criticisms from ex-communists about the dictatorial aspects of the Russian government)

C. [Democracy]

Heiman, *Fascism, Communism and Democracy [sic, Communism, Fascism or Democracy?]
Pigou, *Socialism versus Capitalism.

 

D. On Some Problems of Pricing, etc., in a Socialist Economy.

*Mises, Socialism.
*Hayek, Mises, Barone, etc., Problems of Collectivist Planning.
*Lange, “The Economic Theory of Socialism,” Review of Economic Studies, October 1936, February 1937.
Lerner, “Economic Theory and Socialist Economy,” Review of Economic Studies, October 1934.

Source: The University of Chicago Library. Norman M. Kaplan Papers. Box 1, Folder 7.

Categories
Courses Harvard Syllabus

Harvard Economics. Readings for Taussig’s Economics 11, Theory. 1923-24.

 

 

From assignments and suggested readings as found in the notes taken by Frank W. Fetter (obituary), son of the economist Frank Albert Fetter. Frank W. Fetter received an A.M. in economics from Harvard. Most of the items below are written at the start of his notes for the class-days Fetter attended. Approximately 110 pages of class/reading notes are in this folder. I have merely extracted the course readings and specific bibliographic references made by Taussig for this posting.

New addition: Mid-year and final examination questions for this course.

________________________

Readings for Economic Theory (Taussig)

Economics 11
MWF 2pm
1923-24
from notes taken by Frank Whitson Fetter

Fall Term

Sept. 26

Sept. 28

Oct. 1

Oct. 3

Oct. 5

Oct. 8

Oct. 10

Oct. 15

Oct. 17

Oct. 19

Oct. 22

Oct. 24

Oct. 26

Oct. 29

Oct. 31

Nov. 2

Nov. 5

Nov. 7

Nov. 9

Nov. 12

Nov. 14 Discusses Ricardo’s biography

Nov. 16 (no class)

Nov. 19

Nov. 26

Nov. 28

Nov. 30 Lecture by Taussig on Mill

Dec. 3. No class

Dec. 5. Class in charge of Prof. Crum.

Dec. 7

Dec. 10

Dec. 12

  • Marshall 8th p. 335, (abbreviation unclear, looks like: V:12; paragraph 3…need to check)

Dec. 14

Dec. 17

Dec. 19

Dec. 21

Jan 4

Jan 7

Jan 9

Jan 11.

Jan 14 “increasing returns” (internal and external economies)

Jan 16

Jan 18

Jan 21

Jan 23 Discussion of cases given by Marshall in diagrams on pp. 464-469.

 

 

 

Spring Term

Feb. 11

  • Ultimate analysis of cost of production chapter.
  • Marshall Book VI, ch 4,5, also p. 339
  • Mill, p. 440
  • Marshall, Fortnightly Review, vol 25, p. 598

Feb. 13

Feb. 15

Feb. 18

Feb 20

Feb 25

  • Discussion of main idea of Book II, chapter 7 (probably Marshall)

Feb 27

Feb 29

March 3

March 5

March 7

March 10

March 12

March 14

March 17 no class

March 19

March 21

March 24

March 26 pp. 325-327

March 28

March 31

April 2

April 4

April 7

April 9

April 11 Absent.

April 21

April 23

April 25 absent

April 28

April 30

May 2

May 5

May 7

May 9

May 12    Class in charge of Crum

May 14

May 16

May 19

No class May 21 or May 26.

May 23

May 28

 

Source:  Duke University. Rubenstein Library.
Frank Whitson Fetter Papers, 1902-1992.  Box 49.
Folder: Student Papers, Graduate Course (Harvard University) Transportation Exams, readings, notes, 1923-1924.