Categories
Economists Harvard Suggested Reading Syllabus Undergraduate

Harvard. Syllabus and final exam for National Income and its Distribution. Conrad, 1958

 

 

For this post I have transcribed the syllabus with reading assignments together with the final exam questions for Alfred H. Conrad’s undergraduate semester course, “National Income and its Distribution,” taught at Harvard during the 1958-59 academic year. As utterly important as the national income accounts have proven themselves to be, the data from these accounts are generally just taken for granted by the overwhelming majority of economists and woe be the instructor who tries to introduce such material in more than one or two sessions in their macroeconomics course. But I have always liked the stuff and so this course enters the Economics in the Rear-view Mirror collection.

While I can recall having heard of his pioneering econometric work on American slavery with John R. Meyer in an American economic history course I took many decades ago at Yale, I really knew nothing about Conrad’s career, other work, or his personal life. The biographical data from the members’ survey of the American Economic Association are undoubtedly the truth, but not the whole truth, which is why I have provided the link to his New York Times obituary and a story about his wife, the poet Adrienne Rich. Suicide sadly cut his career short but I am happy to enter these few artifacts into the historical record in his memory.

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On Alfred H. Conrad and his wife, poet, Adrienne Rich

New York Times obituary for Alfred H. Conrad: October 20, 1970.

The Guardian article “Poet and Pioneer” by John O’Mahoney (15 June 2002) that provides a review of the work of Conrad’s wife, the poet Adrienne Rich, with a dozen paragraphs about their lives together.

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American Economic Association
Member Biographic Entry, 1969

CONRAD, Alfred Haskell, academic; b. New York City, 1924; A.B., Harvard, 1947, M.A., 1949, Ph,D., 1954.

DOC. DIS. The Redistribution of Income and the Matrix Multiplier, 1953.

FIELDS 2ab, 3ab, Ic.

PUB. The Economics of Slavery and other studies in econometric history (with John R. Meyer), 1964; The Impact of Education and Research on Efficiency in CES Production Relations (with Murray Brown), 1967; Econometric Models and Development Planning, 1968.

RES. The Diffusion of Technological Innovations.

Asst. prof., Northwestern, 1955-56; asst. prof. econ., Harvard, high, 1956-59, mem. sr. research staff, Econ. Research Project, 1952-59, lectr. bus. adm., 1959-61, asso. prof. bus. adm., Grad. Sch., 1962-66; vis. prof., Netherlands Sch. Econ., 1961-62; prof. econs., City Coll., City U. of New York since 1966, exec. officer of Grad. Program since 1969.

Source: American Economic Association. Biographical Listings of Members. The American Economic Review, Vol. 59, No. 6, 1969. Handbook of the American Economic Association (Jan., 1970), p. 84.

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Course Description

Economics 124. National Income and its Distribution

Half course (fall term). M., W., F., at 10. Assistant Professor Conrad.

Measurement of national income and income inequality; theories of distribution among factors and individuals; factor-shares and inequality in a general equilibrium explanation; inequality and growth in mature and in underdeveloped economies; government redistribution; testing the hypotheses.

Source: Official Register of Harvard University, Vol. LV, No. 24 (November 28, 1958), General Catalogue Issue, 1958-1959, p. 123.

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Course Enrollment

[Economics] 124. National Income and its Distribution. Assistant Professor Conrad. Half course (Fall).

Total, 12: 3 Seniors, 7 Juniors, 1 Sophomores, 1 Other.

Source: Harvard University. Report of the President of Harvard College, 1958-59. Page 71.

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Economics 124
NATIONAL INCOME AND ITS DISTRIBUTION
Fall, 1958

  1. National Income and Social Accounting.
    1. Introduction; conceptual framework for income accounting.

The definition and measurement of national income. Income inequality, growth, and ethical norms. The production accounts of the firm and the income accounts of the economy.

Readings:

Readings in the Theory of Income Distribution, Kuznets, “National Income,” pp. 3-33.
Ruggles and Ruggles, National Income Accounts and Income Analysis, Chs. 1-4, pp. 3-68.
Hicks, Hart, and Ford, Social Framework of the American Economy, Chs. 16, 17, pp. 209-234.

    1. The construction of the national income accounts.

The problems of valuation and aggregation.

Readings:

Ruggles and Ruggles, Chs. 5-8, pp. 69-186.
U.S. Dept. of Commerce, National Income, 1954 Edition, pp. 30-60, 160-165.
Hicks, Hart, and Ford, Ch. 15, pp. 198-208.

    1. Two special problems.

Maintaining capital intact.
The product of government.

Readings:

Hicks, Hart, and Ford, Ch. 10 and Appendix Note C, pp. 117-130, 296-300, and Ch. 13, pp. 173-185.

Reference:

Income and Wealth, Series I, ed. E. Lundberg, “Government Product and National Income” (Kuznets), pp. 178-245.

    1. A review of aggregate income trends and analysis.

Readings:

Ruggles and Ruggles, Chs. 10-12, pp. 213-303.
Income and Wealth, Series II, ed. S. Kuznets, “Long-Term Changes in the National Income of the United States Since 1870” (Kuznets), pp. 29-241. This study should be read by the time we reach section 8, below—not later than November 14.

  1. The Theory of Income Distribution.
    1. Introduction; income distribution in economic analysis.

Readings:

Readings, J. M. Clark, “Distribution,” pp. 58-71.
M. A. Copeland, “Social and Economic Determinants of the Distribution of Income,” AER, March 1947, pp. 56-75.

    1. The distribution of the product among the factors of production.

The classical descriptions and Marx.
The marginalists.
Market position and monopoly; the effectiveness of unions.
General equilibrium and employment theories.

Readings:

Ricardo, Principles of Political Economy, Chs. 4, 5, 6, pp. 88-127 (Sraffa edition).
Sweezy, Theory of Capitalist Development, Chs. 4, 5, pp. 56-95.
Hicks, Theory of Wages, Chs. 1-5, pp. 1-111.
The Impact of the Union (ed. Wright), Samuelson, Ch. 15, pp. 312-342, and Friedman, Ch. 10, pp. 204-234.
Readings, R.A. Gordon, “Enterprise, Profits, and the Modern Corporation,” pp. 558-570.
L. C. Reynolds, “Impact of Collective Bargaining on Wage Structure,” Theory of Wage Determination, ed. J. T. Dunlop, pp. 194-221.

Reference:

Dalton, The Inequality of Incomes, esp. Parts II and III.
Douglas, Theory of Wages, esp. Part I and Ch. 8.
Wootton, The Social Foundations of Wage Policy.
Readings in the Theory of Income Distribution.

    1. The distribution of income among individuals.

The possession of skills and property.
Normal curves, Pareto’s Law, and chance.

Readings:

Studies in Income and Wealth, Volume XV, Garvy, “Inequality of Income; Causes and Measurement,” pp. 25-47.
A. D. Roy, “The Distribution of Earnings and of Individual Output,” Econ Journal, Sept. 1950, pp. 489-505.
A. D. Roy, “Some Thoughts on the Distribution of Earnings,” Oxford Econ Papers, 1951, pp. 135-

Reference:

Dalton, Part IV.

    1. The data on functional and personal distribution of income in the U.S.

Readings:

D. G. Johnson, “Functional Distribution of Income in the U.S.,” RES, May 1954, pp. 175-183.
G. H. Moore, “Secular Changes in the Distribution of Income,” AER, Papers and Proceedings, May 1952, pp. 527-544.
E. F. Denison, “Income Types and the Size Distribution,” AER, Papers and Proceedings, May 1954, pp. 254-269.
S. Goldsmith, et al, “Size Distribution of Income since the Mid-Thirties,” RES, February 1954, pp. 1-32.
H. Miller, Income of the American People, Chs. 3, 8, 9, pp. 16-33, 97-123.

References:

U. S. Dept. of Commerce, Income Distribution in the United States, Washington, 1953.
Kuznets, Shares of Upper Income Groups in Income and Savings.
M. J. Bowman, “A Graphical Analysis of Personal Income Distribution in the United States,” Readings, pp. 72-99.

III. [No section title]

    1. Income Inequality and Growth

Income, consumption and investment.
Technical change, capital formation, and income shares.
Income shares and industrial structure.

Readings:

Baumol, Economic Dynamics, Chs. 2, 3, pp. 11-35.
Duesenberry, “Income-Consumption Relations and their Implications,” in Income, Employment, and Public Policy, pp. 54-81.
Kurihara, “Distribution, Employment, and Secular Growth,” in Post-Keynesian Economics, Ch. 10, pp 251-273.
Kuznets, “Economic Growth and Income Inequality,” AER, March 1955, pp. 1-28.
Hicks, Theory of Wages, Ch. 6, pp. 112-135.
E. H. Phelps-Brown, “The Long-Term Movement of Real Wages,” in Theory of Wage Determination, ed. J. T. Dunlop, pp. 48-65.

Reference:

F. A. Hanna, “Contribution of Manufacturing Wages to Regional Differences in Per-Capita Income,” RES, February 1951.

    1. Inflation and Income Inequality.

Readings:

Keynes, “Social Consequences of Changes in the Value of Money,” Essays in Persuasion, pp. 80-104.
Bach and Ando, “Redistributional Effects of Inflation,” RES, February 1957, pp. 1-13.

Reference:

D. Seers, Changes in the Cost of Living and the Distribution of Income, Oxford, 1949.
Joint Committee on the Economic Report, Low-Income Families and Economic Stability, 1949.

    1. The State and the Distribution.

Who pays the taxes?
Redistribution through public expenditures.

Readings:

Conrad, “Redistribution through Government Budgets in the U.S.,” in Income Redistribution and Public Policy, pp. 178-267.
Conrad, “On the Calculation of Tax Burdens,” Economica, November 1955, pp. 342-348.

    1. Conclusion.

Readings:

Kuznets, in Studies in Income and Wealth, Volume XV, pp. 203-213.
Tinbergen, “Welfare Economics and Income Distribution,” AER, Papers and Proceedings, May 1957, pp. 490-503.

Reference:

Lampman, “Recent Thoughts on Egalitarianism,” QJE, May 1957, pp. 234-266.

 

Source: Harvard University Archives. Syllabi, course outlines and reading lists in Economics, 1895-2003. Box 7. Folder “Economics, 1958-1959 (1 of 2)”.

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HARVARD UNIVERSITY
ECONOMICS 124
FINAL EXAMINATION
January 16, 1959

Answer Question 1 and any four others.

  1. (a) or (b):

(a) The Council of Economic Advisers, in their report to the President in January, 1953, stated:

“…the preferable general formula—once wages, prices and profits are in a workable relationship—is for money wages to increase with productivity trends in the whole economy.”

Discuss this suggestion in the light of your reading period assignment, bringing in relevant recent data on the effect of inflation upon factor shares to illustrate your argument.

(b) Describe briefly the law of proportional effect and discuss its application to the income generating process. Be careful to consider the economic relevance of the conditions and results of the statistical model.

  1. Describe the tendencies toward a falling rate of profit in (1) the “classical”, (2) the Marxian, and (3) neo-classical description of capital accumulation. How would the possibility of technological change affect this tendency?
  2. Who are the poor in the post-World War II United States?
  3. You are hired as a technical expert on national income accounts to advise a country in which economists, among other basic resources, are in short supply. In detail, discuss the statistics you will need to answer the following questions: (1) who saves? (2) what has been the trend the savings/income ratio?
  4. “One might thus assume a long swing in the inequality characterizing the secular income structure: widening in the early phases of economic growth when the transition from the pre-industrial to the industrial civilization was most rapid; becoming stabilized for awhile; and then narrowing in the later phases.” Write a concise explanation, in outline form if you like, for the declining inequality suggested here.
  5. How would you reconcile the marginal productivity theory of wages (as presented, say, by Hicks) with the collective bargaining explanation of Lloyd Reynolds or the inertia-displacement theory of Phelps Brown? You may include in your argument any other readings that seem to be relevant.

 

Source: Harvard University Archives. Social Sciences. Final Examinations, January 1959. (HUC7000.28, 122 of 284). Papers Printed for Final Examinations. History, Government, Economics, …, Naval Science, Air Science. January, 1959.

Image Source: Simon Guggenheim Memorial Foundation. Fellows page for Alfred Haskell Conrad.

Categories
Exam Questions Harvard Undergraduate

Harvard. Division Exams for the economics A.B., January 1917

 

The philosophy behind the use of division examinations for undergraduate history, government, and economics majors at Harvard was documented in an earlier post providing excerpts from relevant passages in annual reports of the President of Harvard College. This post adds to the growing stock of division exams from Harvard collected here at Economics in the Rear-view Mirror. Links to other exams are provided in the post along with the questions for four exams from the division examinations given in January 1917.

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Background

A significant event of the year [1915-16] was the inauguration by the Division of History, Government, and Economics of its new examination of candidates for the Bachelor’s degree who have concentrated in the Division. This examination was devised “not in order to place an additional burden upon candidates for the A.B., but for the purpose of securing better correlation of the student’s work, encouraging better methods of study, and furnishing a more adequate test of real power and attainment.” In their preparation students have from the beginning of the Sophomore year special tutorial instruction. The examination embraces three tests: first, a general paper, with a large number of alternative questions, treating comprehensively the subjects of the Division; second, a special paper, covering a chosen specific field; and lastly, a supplementary oral examination which may relate to either the general or the special paper, but ordinarily bears upon the specific field. The results of the first examination, taken by a comparatively small group of men graduating in three years, are in no way conclusive. The members of the examining committee, however, think them distinctly encouraging. Twenty-four candidates appeared, of whom twenty-two passed and two failed. Their selection of questions from the general paper indicated breadth of preparation and their bearing at the oral examination showed more than a little clearness and independence of thought.

Source: Harvard University. Report of the President of Harvard College, 1915-16, pp.75-76.

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April 1927 Division Examinations Not Included in Cole’s Volume of Exams

Handwritten note added to the Arthur H. Cole volume of collected division examinations, 1916-1927:

“This volume contains the January exams for 1916-17. The April 1917 exams are shelved separately”.

Source: Harvard University Archives. Divisional and general examinations, 1915-1975 (HUC 7000.18). Box 6, Bound Volume (stamped “Private Library Arthur H. Cole”) “Divisional Examinations 1916-1927”.

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Other Harvard division exams transcribed and posted:

Division Examinations for the Degree of A.B.
Division of History, Government and Economics.

April/May 1916

History of Economic Thought, Public Finance, Labor 1931

Economic Theory 1939
Money and Government Finance 1939
Economic History (since 1750) 1939
Labor and Social Reform 1939

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DIVISION OF HISTORY, GOVERNMENT AND ECONOMICS
FOR THE DEGREE OF A.B. DIVISION EXAMINATIONS
1916-17

DIVISION OF HISTORY, GOVERNMENT AND ECONOMICS
DIVISION GENERAL EXAMINATION
[January 6, 1917]

Part I

The treatment of one of the following questions will be regarded as equivalent to one-half of the examination and should therefore occupy one and one-half hours. Write on one question only.

  1. How does the federal form of government affect the life of a nation?
  2. Discuss the arguments for and against universal manhood suffrage.
  3. What influences have been exerted by the Catholic Church on political development since 1500?
  4. Sketch the life and work of two or three of the following: (a) Calvin, (b) Cavour, (c) Hildebrand, (d) Jefferson, (e) Kant, (f) Marx, (g) J. S. Mill, (h) Sir Thomas More, (i) Theodosius.
  5. What were the political and economic effects before 1750 of the discovery of America?
  6. How has the physiography of the states of Europe influenced (a) their economic development? (b) their political organization, and (c) their present problems?
  7. What has been the influence of France in the Western hemisphere?
  8. Discuss the merits and defects of lawyers as statesmen?
  9. Explain the reasons for the differences in British foreign and colonial policy in the eighteenth and nineteenth centuries.
  10. What have been the consequences of the guarantee of freedom of contract?
  11. Do periods of internal and external national greatness tend to coincide?
  12. Discuss sectionalism in the United States since the Civil War.

 

Part II

Three questions only from the following groups, A, B, and C, are to be answered, of which not more than two may be from one group.

A

  1. What were the chief features of the economic life of New England prior to the nineteenth century?
  2. Trace and explain the development of American agriculture since 1860.
  3. What have been the causes and results of the growth of cities?
  4. State the case for and against a federal income tax in the United States.
  5. In what ways and by what means does war affect government regulation of industry?
  6. Indicate points at which British economic policy has influenced German policy.

B

  1. Compare the characters and careers of Philip II of Spain, Louis XIV of France, and William II of Germany.
  2. How does the history of Holland and of Portugal illustrate the principle of balance of power?
  3. Should the French Revolution be regarded as the beginning or as the end of a period?
  4. “…With the governments who have declared their independence and maintained it, and whose independence we have, on great consideration and on just principles acknowledged, we could not view any interposition for the purpose of oppressing them, or controlling in any other manner their destiny, by any European power, in any other light than as the manifestation of an unfriendly disposition toward the United States.”
    From what document is this quotation taken? Give a brief account of the subsequent applications of this principle.
  5. In how far was the navy responsible for the victory of the North in the Civil War?
  6. Give an account of the political and economic relations of Germany and the United States, since the Declaration of American Independence.

C

  1. Compare the powers exercised by the President of the United States in 1800, in 1850, and in 1916.
  2. Why should Europe dominate Africa?
  3. What are the arguments for and against centralization and decentralization of political power?
  4. Should members of cabinets sit and vote in national legislative bodies?
  5. To what causes has the expansion of the United States since 1800 been due?
  6. Why has the status of Turkey been a matter of importance in international affairs?

*  *  *  *  *  *  *  *  *  *  *

DIVISION SPECIAL EXAMINATION
ECONOMIC THEORY
[January 10, 1917]

Answer six questions.

A

Take from this group at least two and not more than four.

  1. “The difference between producer’s and consumer’s goods is at bottom only a difference of degree.” Explain. What is the essential difference between these two classes of goods?
  2. Define and analyze: (a) consumer’s surplus; (b) producer’s surplus. Under what conditions of cost does producer’s surplus arise? How is monopoly profit to be distinguished from producer’s surplus? Illustrate throughout by diagram.
  3. What is meant by “overinvestment”? “overaccumulation”? How does over-investment in particular industries “bring its own remedy”? How does a tendency toward overaccumulation?
  4. “The exchanges between different countries are analogous to the exchanges between non-competing groups within a country.” Explain.
  5. Discuss the more important difficulties in the way of socialism.
  6. What methods of investigation may be employed in economic theory? Give an illustration of the use of one of these methods.

B

Take from this group at least one and not more than two.

  1. Sketch and criticize the attitude of the English and American courts during the nineteenth century toward collective bargaining by labor.
  2. Trace the development of interest theories.
  3. To what extent were changes in the tariff policy of the United States during the nineteenth century based upon changes in the prevailing opinion concerning free trade and protection?

C

Take from this group at least one and not more than two.

  1. Contrast the concepts of justice in taxation and justice in the distribution of wealth.
  2. What is the case for and against the Single Tax?
  3. To what extent and by what means can trade-unions influence (a) the wages paid in a given occupation? (b) the general level of wages?
  4. What has been the importance of the “American frontier” in the distribution of wealth in the United States?

*  *  *  *  *  *  *  *  *  *  *

DIVISION SPECIAL EXAMINATION
MONEY AND BANKING
[January 10, 1917]

Answer six questions.

A

Take from this group at least one and not more than two.

  1. Analyze the relation of the value of gold to its cost of production. In what measure, if at all, is the indicated relation peculiar to gold?
  2. Discuss index numbers of prices with reference to (a) the purposes they may serve; (b) the various methods of construction; (c) the best index numbers for wholesale prices in the United States.
  3. Below is a combined statement of the 12 Federal Reserve Banks at a recent date.
    Explain the several items of the statement, and comment upon the more significant conditions disclosed.

RESOURCES

LIABILITIES

(all items in thousands of dollars)

Gold coin and certificates in vaults

$283,730

Capital paid in

$55,711

Gold settlement fund

$174,801

Government deposits

$26,319

Gold redemption fund

$1,404

Member bank deposits

$637,072

Legal tender notes, silver, etc.

$17,974

Federal Reserve notes—net

$14,296

5 per cent redemption fund

$470

Federal Reserve bank notes

$1,028

Bills discounted for members

$20, 501

Other liabilities

$634

Bills bought

$102,092

United States bonds

$39,427

One-year Treasury notes

$11,167

Municipal warrants

$22,166

Federal Reserve notes—net

$15,414

Due from other Federal Reserve Banks—net

$43,263

Other resources

$2,651

$735,060

$735,060

B

Take from this group at least one and not more than two.

  1. What were some of the forms of primitive money? What functions were performed by each form?
  2. Describe the economic cycle culminating in the crisis of 1837.
  3. Trace and explain the inflationist movement in the United States from 1865 to 1900.
  4. What connections have existed since 1830 between the financial administration of the Federal Government and banks in the United States?

C

Take from this group at least two and not more than four.

  1. Would universal bimetallism conduce to a stable market ratio between gold and silver? to a stable price level? What have been the chief obstacles to universal bimetallism? Are these obstacles increasing or decreasing?
  2. When prices are rising how are the following affected: (a) farmers; (b) factor operatives; (c) manufacturers; (d) stockholders; (e) owners of gold mines?
  3. Give a detailed account of silver since 1890.
  4. Wherein is the Federal Reserve System like the banking system recommended by the National Monetary Commission? Wherein is it different? Discuss the differences.
  5. Trace and explain the course of foreign exchange rates since the beginning of the European War.
  6. What is meant by “agricultural credit”? Describe briefly and criticize the existing facilities for agricultural credit in the United States.

    *  *  *  *  *  *  *  *  *  *  *

DIVISION SPECIAL EXAMINATION
CORPORATE ORGANIZATION, INCLUDING RAILROADS
[January 10, 1917]

Answer six questions.

A

Take from this group at least one and not more than two.

  1. Define “monopoly.” In what ways, if at all, is monopoly price affected by (a) cost of production per unit? (b) potential competition? (c) an elastic demand for the product? (d) the existence of satisfactory substitutes for the product?
  2. What official statistics throw light upon industrial organization in the United States? Criticise the available statistics of this subject.
  3. Describe the general features of the uniform accounting system now prescribed for railroads by the Interstate Commerce Commission. Why was the Commission given power to prescribe and supervise such a uniform accounting system?
  4. Enumerate the principal sources of railway statistics at the present time, and show the content, importance, and deficiencies (if any) of each.

B

Take from this group at least one and not more than two.

  1. Trace any connections between the corporate form of organization and the later stages of the Industrial Revolution.
  2. Sketch the history of the Sherman Anti-Trust Law and its enforcement.
  3. Give a brief account of the Granger movement.
  4. “Railways have been the most important agents in increasing the disparities of wealth in modern times.” Explain.

C

Take from this group at least two and not more than four.

  1. If a corporation regularly earns 5 per cent on all its outstanding securities, can it be said to be overcapitalized? What constitutes overcapitalization? How, if at all, should the law attempt to deal with overcapitalization?
  2. Analyze the present policy of the Federal Government in its regulation of industrial combinations in the United States.
  3. What connections exist between banks and industrial combinations in the United States? Contrast the situation here with that in France.
  4. In railroading in the United States, what is the significance of the following: (a) large plant; (b) joint cost; (c) physical valuation; (d) competition of water routes; (e) division of powers between state and Federal governments?
  5. Discuss the forms and significance of discriminations in railway rate-making. Which of the discriminations, if any, tend to persist under government ownership?
  6. What provisions should be made for the settlement of wage disputes on interstate railroads in the United States?

*  *  *  *  *  *  *  *  *  *  *

DIVISION SPECIAL EXAMINATIONS
[not transcribed for this post]

MODERN HISTORY SINCE 1789, INCLUDING AMERICAN HISTORY
[January 10, 1917]

AMERICAN GOVERNMENT
[January 10, 1917]

 

Source: Harvard University Archives. Divisional and general examinations, 1915-1975 (HUC 7000.18). Box 6, Bound Volume (stamped “Private Library Arthur H. Cole”) “Divisional Examinations 1916-1927”.

Image Source:  Harry Elkins Widener Memorial Library. Harvard Class Album 1920, p. 65.

 

Categories
Economists Teaching Undergraduate Williams

Williams. Leading Author of Political Economy Textbooks, Arthur Lathan Perry (1830-1905)

 

An earlier post mentioned the late 19th century economics textbook writer, Arthur Latham Perry, whose writings in the United States were rated by leading publishers in third/fourth place (behind Adam Smith and John Stuart Mill) in 1876. This post provides some biographical information, links to most editions of his three textbooks and two prefaces that describe his personal intellectual development as an economist. 

More about the economics professor Arthur Latham Perry:

Joseph Dorfman. Economic Mind in American Civilization, vol. 3 1865-1918. New York: 1949. pp. 56-63.

Stephen Meardon. A Tale of Two Tariff Commissions and One Dubious “Globalization Backlash”. Inter-American Development Bank, Research Department Working Paper 476 (November 2002), pp. 14-19.

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Perry, Arthur Latham (1830-1905)
By Patrick J. McCurdy (Class of 2002)

Arthur Latham Perry, Williams Class of 1852, was born on February 27, 1830 and died on July 9, 1905. He was raised in poverty in New Hampshire but was able to attend Williams College, where he was one of the founders and charter members of the Alpha Delta Phi Fraternity.

After graduating, he taught in Washington for a year but returned immediately when offered a position at Williams as professor of history and political economy. He taught these subjects from 1854 to 1891. While at the college he also taught German language and literature 1854-1868. As a professor of Political Economy, 1859-1899, he wrote many textbooks and monographs and was considered a leading expert in the field of free trade.

For several years he toured the country during his summer holidays, giving lectures on the principle of free trade for The American Free Trade League. He also wrote important history books on Williamstown and Williams College, Origins of Williamstown (1894) and Williamstown and Williams College (1898).

In 1891 Professor Perry retired and acted as a consultant to the governors of Vermont, Massachusetts, New Hampshire and Connecticut. It was for his great devotion to Williams College that the Alpha Delta Phi fraternity house was named in honor of him.

Perry married Mary Brown Smedley, whose ancestors were some of the first settlers of Williamstown and famous leaders of the Revolutionary War.  With her he had five sons and one daughter: Bliss, Arthur, Walter, Carroll, Lewis and Grace.  Papers for years to come would describe the brothers as a member of an old and distinguished Williamstown family.”

Source: Williams College. Special Collections Website: Perry, Arthur Latham (1830-1905) webpage.

Image Source: Arthur Latham Perry. Miscellanies. Williamstown, Mass.: Published by the Author, 1902).

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Arthur Latham Perry
Links to Editions of his Three Text-books in Political Economy

Perry, Arthur Latham. Elements of Political Economy (New York: Charles Scribner and Company). 1st ed. (1866); 2nd ed. (1867); 4th ed. (1868); 5th ed. (1869) ; 6th ed. (1871); 7th ed. (1872); 10th ed. (1873); 11th ed. (1874); 13th ed. (1875); 14th ed. (1877);  15?th ed. (1878);
Title shortened to Political Economy: 18th ed. (1883); 19th ed. (1887); 20th ed. (1888); 21st ed. (1892); 22nd ed. (1895).

Perry, Arthur Latham. An Introduction to Political Economy (New York: Scribner, Armstrong, & Company). 1st ed. (1877); 2nd ed. (1880).

Perry, Arthur Latham. Principles of Political Economy. (New York: Charles Scribner’s Sons). 1st ed. (1891);

________________________

Arthur Latham Perry, LL.D.
Orrin Sage Professor of History and Political Economy in Williams College

PREFACE
14th edition (1877) of Elements of Political Economy

THE good reception given to my book in its previous editions by many practical teachers, as well as by the general public, has prompted me to subject it to another thorough revision, by verifying former statements of fact and introducing many new ones to bring the book abreast of the present time, and by enlarging the discussion of principles at some points and curtailing it at others in the interest of symmetry and completeness; and prompts me also to write, even at this late day, a preface to the book, since I have grounds for believing that some of its friends may be pleased to learn of the circumstances under which it was originally written.

I had taught Political Economy in this Institution [Williams College] for ten or twelve years without ever forming any purpose to try my hand at a treatise on the subject. I had used for my teachers and guides the English writers, particularly Smith, Ricardo, Senior, and Mill; and had familiarized myself also with the American writers, particularly Carey, Wayland, Bowen, and Bascom. Almost from the outset of my studies, however, and increasingly as the years went by, I felt a dissatisfaction with what seemed to me to be the lack of scientific generality common to nearly all these writers. I could see no solid reason why economical discussions should be confined to tangible commodities, and not include as well personal services rendered for pay, and also credits of all kinds. I discussed this point repeatedly with Professor Bascom, at that time my colleague, and my mind had almost reached the conclusion in which it has now rested for many years, when my late friend Amasa Walker, who was even then a political economist of reputation, although he had not yet published his “Science of Wealth,” recommended to me Bastiat’s “Harmonies of Political Economy.” I had scarcely read a dozen pages in that remarkable book, when, closing it, and giving myself to an hour’s reflection, the field of Political Economy, in all its outlines and landmarks, lay before my mind just as it does to-day. I do not know how much I brought to this result, and how much towards it was derived from Bastiat. I only know that from that hour Political Economy has been to me a new science; and that I experienced then and thereafter a sense of having found something, and the cognate sense of having something of my own to say. This was in 1863.

Subsequently I learned much from Bastiat. It is a pleasure to acknowledge, in the amplest manner, one’s indebtedness to such a quickening writer as he is; and whoever will compare carefully with his book the following chapters on Value and Land, will see how much I have profited by his discussions; and he will also see that I have made an independent, not a servile, use of them. I dare to hope that the relations of utility to value are even more clearly and ultimately put than he has put them. Not to have availed myself of the truths which he has actually established would be as unjust to science, as not also to have endeavored, in the chapters on Exchange and Foreign Trade to execute the commission which he left to his readers in these words:

I hope yet to find at least one among them who will be able to demonstrate rigorously this proposition: the good of each tends to the good of all, as the good of all tends to the good of each ; and who will, moreover, be able to impress this truth upon men’s minds by rendering the proof of it simple, lucid, and irrefragable.
[Sterling’s Translation of the Harmonies, page 92.]

Under the impression that I could now say something about Political Economy that the public might be willing to hear, I wrote over my initials a series of articles for the “Springfield Republican,” which attracted attention, and brought me letters alike from friends and from entire strangers, – notably from the late Sidney Homer of Boston, whose name I shall always hold in grateful remembrance for this and other reasons, – urging me to continue to write on this subject, and suggesting that a formal treatise might be acceptable to the public. Thus solicited and encouraged, – Mr. Bowles kindly adding his voice to the rest, — I ventured with diffidence upon the composition of this book. It was not at all the primary purpose to prepare a text-book for the use of college students. I thought, indeed, that I might use the book with my own classes; but the general public was in my eye throughout. The supposed needs of merchants’ clerks and farmers’ sons, for example, influenced the matter and form much more than those of people intellectually further advanced. Indeed, there was, for this reason, in the first edition, a familiarity of phrase and illustration which justly elicited criticism, and which has since been gradually eliminated. While the original design, to be intelligible to all classes of readers, may doubtless have betrayed me at times into too familiar a style, it has continued, nevertheless, to control the form of every new and every altered paragraph.

That which is original in my book is perhaps rather to be sought for in the book as a whole than in the specific parts of it. The entire plan is different from that of any book published prior to 1865. I attempted a self-consistent and symmetrical development of the one idea of Value in each of the three forms in which it manifests itself. That the outline at least is complete, is confirmed by the fact that I have found no occasion since for any other chapters than the sixteen originally sketched. I dropped entirely the long-maintained distinctions between the Production, Distribution, and Consumption of Wealth. So far as I know, I was the first to drop the technical use of the term Wealth, – a term that has always proved an invincible foe to every one trying to wrestle with it scientifically: even Bastiat, athlete as he was, was floored in this encounter. I believe that new light has been thrown on the value of land, on the delicate relations between money as a medium and money as a measure, on the whole line of objections to free trade, and on the nature of property as related to every form of taxation. The historical chapters of the book cost me very great labor. In sketching the history of American tariffs, I had not before me the tracks of even a solitary pioneer. The same remark applies in the same degree to the chapter on Currency in the United States, – a subject that has since been worthily developed into a volume by my friend Professor Sumner of Yale College. In the opening chapter on the History of the Science, I was aided somewhat by the Introductory Discourse prefixed by Mr. McCulloch to his edition of Adam Smith, and also somewhat by the article “Political in the New American Cyclopedia; but all the quotations from the classical writers, as well as those from Locke, Hume, and Bastiat, were made at first hand.

Two or three editions of the present treatise had been issued before I had seen any of the books of Henry Dunning Macleod, and to the numerous points of our independent coincidence have been added, in my later editions, many points of information in matters of fact, and some distinctions in matters of science, for which I wish here to express in general my obligations to him. Mr. Macleod, in the first volume of his “Principles of Economical Philosophy.” has done me the great honor to associate my name with Condillac, Whately, Bastiat, and Chevalier, — the heads of the third great school in Political Economy. His own name is more worthy than mine, and more likely than mine, to stand permanently in that distinguished list.

The most recent writers, whom I have consulted, and to whom I feel under obligations, – and every writer who is both competent and earnest puts his readers under obligations of some sort, — are ,Governor Musgrave of South Australia, Professors Price and Jevons of England, and General Walker of New Haven; the points of the latter in respect to the so called wages-fund have led me to modify my previous views on that subject.

I can not conclude this preface without expressing my sense of indebtedness to the successive classes of intelligent young men, to whom I have presented, and with whom I have discussed, now for almost a quarter of a century, the facts and principles of this fascinating science. It seems to me as if every possible objection to the leading points in this book has been raised, at one time or another, in my own lecture-room. Sometimes I have been convicted of error in minor points, and many times been fortified in the truth, through an attempt to remove objections started thus by students. Nearly every one of the objections to free exchange answered in the chapter on Foreign Trade was broached in this way; and I deem it of the greatest advantage to any political economist, — an advantage to which Adam Smith himself was much indebted, – to have the opportunity to test views and theories over and over again in the presence of fresh and bright minds. It has not infrequently happened in my experience that new light has been thrown out upon a subject by a young man just grasping the thought for the first time.

A. L. P.

Williams College,
July 4, 1876.

Source: Arthur Latham Perry. Elements of Political Economy, 14th edition (1877), pp. v-xi.

________________________

Arthur Latham Perry, LL.D.
Orrin Sage Professor of History and Political Economy in Williams College

PREFACE.
Principles of Political Economy (1891)

It is now exactly twenty-five years since was published my first book upon the large topics at present in hand. It was but as a bow drawn at a venture, and was very properly entitled “Elements of Political Economy.” At that time I had been teaching for about a dozen years in this Institution the closely cognate subjects of History and Political Economy; cognate indeed, since Hermann Lotze, a distinguished German philosopher of our day, makes prominent among its only five most general phases, the “industrial” element in all human history; and since Goldwin Smith, an able English scholar, resolves the elements of human progress, and thus of universal history, into only three, namely, “the moral, the intellectual, and the productive.”

During these studious and observant years of teaching, I had slowly come to a settled conviction that I could say something of my own and something of consequence about Political Economy, especially at two points ; and these two proved in the sequel to be more radical and transforming points than was even thought of at the first. For one thing, I had satisfied myself, that the word “Wealth,” as at once a strangely indefinite and grossly misleading term, was worse than useless in the nomenclature of the Science, and would have to be utterly dislodged from it, before a scientific content and defensible form could by any possibility be given to what had long been called in all the modern languages the “Science of Wealth.” Accordingly, so far as has appeared in the long interval of time since 1865, these “Elements” were the very first attempt to undertake an orderly construction of Economics from beginning to end without once using or having occasion to use the obnoxious word. A scientific substitute for it was of course required, which, with the help of Bastiat, himself however still clinging to the technical term “Richesse,” was discerned and appropriated in the word “Value” ; a good word indeed, that can be simply and perfectly defined in a scientific sense of its own; and, what is more important still, that precisely covers in that sense all the three sorts of things which are ever bought and sold, the three only Valuables in short, namely, material Commodities, personal Services, commercial Credits. It is of course involved in this simple-looking but far-reaching change from “Wealth” to “Value,” that Economics become at once and throughout a science of Persons buying and selling, and no longer as before a science of Things howsoever manipulated for and in their market.

For another thing, before beginning to write out the first word of that book, I believed myself to have made sure, by repeated and multiform inductions, of this deepest truth in the whole Science, which was a little after embodied (I hope I may even say embalmed) in a phrase taking its proper place in the book itself, — A market for Products is products in Market. The fundamental thus tersely expressed may be formulated more at length in this way: One cannot Sell without at the same instant and in the same act Buying, nor Buy anything without simultaneously Selling something else; because in Buying one pays for what he buys, which is Selling, and in Selling one must take pay for what is sold, which is Buying. As these universal actions among men are always voluntary, there must be also an universal motive leading up to them; this motive on the part of both parties to each and every Sale can be no other than the mutual satisfaction derivable to both; the inference, accordingly, is easy and invincible, that governmental restrictions on Sales, or prohibitions of them, must lessen the satisfactions and retard the progress of mankind.

Organizing strictly all the matter of my book along these two lines of Personality and Reciprocity, notwithstanding much in it that was crude and more that was redundant and something that was ill-reasoned and unsound, the book made on account of this original mode of treatment an immediate impression upon the public, particularly upon teachers and pupils; new streaks of light could not but be cast from these new points of view, upon such topics especially as Land and Money and Foreign Trade; and nothing is likely ever to rob the author of the satisfaction, which he is willing to share with the public, of having contributed something of importance both in substance and in feature to the permanent upbuilding of that Science, which comes closer, it may be, to the homes and happiness and progress of the People, than any other science. And let it be said in passing, that there is one consideration well-fitted to stimulate and to reward each patient and competent scientific inquirer, no matter what that science may be in which he labors, namely, this: Any just generalization, made and fortified inductively, is put thereby beyond hazard of essential change for all time; for this best of reasons, that God has constructed the World and Men on everlasting lines of Order.

As successive editions of this first book were called for, and as its many defects were brought out into the light through teaching my own classes from it year after year, occasion was taken to revise it and amend it and in large parts to rewrite it again and again; until, in 1883, and for the eighteenth edition, it was recast from bottom up for wholly new plates, and a riper title was ventured upon, — “Political Economy,” — instead of the original more tentative “Elements.” Since then have been weeded out the slight typographical and other minute errors, and the book stands now in its ultimate shape.

My excellent publishers, who have always been keenly and wisely alive to my interests as an author, suggested several times after the success of the first book was reasonably assured, that a second and smaller one should be written out, with an especial eye to the needs of high schools and academies and colleges for a text-book within moderate limits, yet soundly based and covering in full outline the whole subject. This is the origin of the “Introduction to Political Economy” first published in 1877, twelve years after the other. Its success as a text-book and as a book of reading for young people has already justified, and will doubtless continue to justify in the future, the forethought of its promoters. It has found a place in many popular libraries, and in courses of prescribed reading. Twice it has been carefully corrected and somewhat enlarged, and is now in its final form. In the preface to the later editions of the ” Introduction ” may be found the following sentence, which expresses a feeling not likely to undergo any change in the time to come: — “I have long been, and am still, ambitious that these books of mine may become the horn-books of my countrymen in the study of this fascinating Science.”

Why, then, should I have undertaken of my own motion a new and third book on Political Economy, and attempted to mark the completion of the third cycle of a dozen years each of teaching it, by offering to the public the present volume? One reason is implied in the title, “Principles of Political Economy.” There are three extended historical chapters in the earlier book, occupying more than one-quarter of its entire space, which were indeed novel, which cost me wide research and very great labor, and which have also proven useful and largely illustrative of almost every phase of Economics ; but I wanted to leave behind me one book of about the same size as that, devoted exclusively to the Principles of the Science, and using History only incidentally to illustrate in passing each topic as it came under review. For a college text-book as this is designed to become, and for a book of reading and reference for technical purposes, it seems better that all the space should be taken up by purely scientific discussion and illustration. This does not mean, however, that great pains have not been taken in every part to make this book also easily intelligible, and as readable and interesting as such careful discussions can be made.

A second reason is, to provide for myself a fresh text-book to teach from. My mind has become quite too thoroughly familiarized with the other, even down to the very words, by so long a course of instructing from it, for the best results in the class-room. Accordingly, a new plan of construction has been adopted. Instead of the fourteen chapters there, there are but seven chapters here. Not a page nor a paragraph as such has been copied from either of the preceding books. Single sentences, and sometimes several of them together, when they exactly fitted the purposes of the new context, have been incorporated here and there, in what is throughout both in form and style a new book, neither an enlargement nor an abridgment nor a recasting of any other. I anticipate great pleasure in the years immediately to come from the handling with my classes, who have always been of much assistance to me from the first in studying Political Economy, a fresh book written expressly for them and for others like-circumstanced; in which every principle is drawn from the facts of every-day life by way of induction, and also stands in vital touch with such facts (past or present) by way of illustration.

The third and only other reason needful to be mentioned here is, that in recent years the legislation of my country in the matter of cheap Money and of artificial restrictions on Trade has run so directly counter to sound Economics in their very core, that I felt it a debt due to my countrymen to use once more the best and ripest results of my life-long studies, in the most cogent and persuasive way possible within strictly scientific limits, to help them see and act for themselves in the way of escape from false counsels and impoverishing statutes. Wantonly and enormously heavy lies the hand of the national Government upon the masses of the people at present. But the People are sovereign, and not their transient agents in the government; and the signs are now cheering indeed, that they have not forgotten their native word of command, nor that government is instituted for the sole benefit of the governed and governing people, nor that the greatest good of the greatest number is the true aim and guide of Legislation. I am grateful for the proofs that appear on every hand, that former labors in these directions and under these motives have proven themselves to have been both opportune and effective; and I am sanguine almost to certainty, that this reiterated effort undertaken for the sake of my fellow-citizens as a whole, will slowly bear abundant fruit also, as towards their liberty of action as individuals, and in their harmonious co-operation together as entire classes to the end of popular comforts and universal progress.

A. L. PERRY.

Williams College,
November 25, 1890.

Source: Preface to Arthur Latham Perry, Principles of Political Economy (New York: Charles Schribner’s Sons), pp. vii-xii.

 

 

Categories
Columbia Suggested Reading Syllabus Undergraduate

Columbia. Syllabus and reading assignments from economic affairs course, 1931-36

 

 

One fine research day when I was working in the splendid reading room of the New York Public Library, I came across a ninety page syllabus for a junior year course at Columbia College “The Organization of Economic Affairs” published in 1930. From two articles in the student newspaper “The Columbia Daily Spectator” it looks like this course had a five-year run from 1931-32 through 1935-36 (see below). I was struck by the deliberate sidestepping of “economic principles”, i.e. theory, and was less than impressed by the preface to the syllabus that I have nonetheless transcribed for the digital record. In addition I have transcribed the 73 reading assignments along with the list of required reading for the course (with links to the books that I could find).  For those interested in more, there are indeed 54 pages of detailed questions and commentary for the reading assignments in the published syllabus.

Of some interest for a modern instructor is that this syllabus includes absolutely no discussion of course requirements, grading or policies. The Columbia Daily Spectator description of the course has introduced me to the concept of “Wallop Courses” which in my day at Yale (early 1970s) were referred to as “Gut Courses” and at Harvard (ca. 1910) such courses attracted “snappers”.

___________________

Reform of Columbia College Economics Course Offerings for 1931-32.

“Contemporary Civilization 3-4 has been dropped from the schedule. The entire Economics and Social Science department’s presentation has been reorganized with many sweeping changes indicated.”

Source: Columbia Daily Spectator, Vol. LIII, No. 122 (15 April 1930), p. 1.

 ___________________

Wallop Courses

         This series outlines courses in the University generally considered by students as easy, either because of the nature of the material or—the chief point—the absence of rigid study and assignment requirements. The purpose of the series is to determine, after investigation how such courses function; the attitude and methods of the instructors; the attitude of students toward course and instructor.

Merely because a course is a “wallop,” does not prevent students from deriving much benefit from it, or from doing unassigned readings if the spirit of the course can move them to it. The question is, What happens in “easy” courses? If a course is invaluable no one is to be blamed because it can be considered a “wallop.”

         Economic 3-4—The organization of economic affairs. Two points each session, and two maturity credits each session. Drs. [Addison T.] Cutler, [George S.] Mitchell and [Robert] Valeur.

This course is not a “wallop” in the strict sense of this rather vague word. It is rumored about the place that if the course is easy, (which it is not, according to some statements,) that it is due more to the ability of the instructors to get the material across than to facility of the material. There is a considerable list of assigned readings, but by paying attention in class it is deemed possible to make a fair grade with a minimum of reading.

The material studied consists of surveys of various important U. S. industries, and of studies of governmental policies toward industry and labor under the New Deal. The material is said to be about 25 per cent repetition of Contemporary Civilization B. Two term papers are required during the year, and grading of these papers is generally considered to be fairly liberal.

Fortunately, or otherwise, the course will be dropped at the conclusion of this year. The material will be included in a new course, to be known as Economics 7-8, which will combine the material of Eco. 3-4 and 5-6, a course in economic theory.

This change is expected to meet general approval of students, as, at present there is some overlapping of material between the two Courses, and both are usually taken by students specializing in Economics.

Source: Columbia Daily Spectator, Volume LIX, No. 81 (21 Feb. 1936), p. 2.

___________________

COLUMBIA UNIVERSITY
IN THE CITY OF NEW YORK

THE ORGANIZATION OF ECONOMIC AFFAIRS
ECONOMICS 3-4

A SYLLABUS PREPARED AND EDITED BY THE STAFF OF THE DEPARTMENT OF ECONOMICS IN COLUMBIA COLLEGE

PREFACE

ASSIGNMENT NO. 1

To the Students of Economics 3-4:

You have completed the two-year course called “An Introduction to Contemporary Civilization.” It is assumed that you wish to explore in more detail than was possible there the problems of “Economics”. You are not unacquainted with economic affairs, for, in addition to your daily observations, you have examined to a certain extent the development of man’s ways of making a living, his ways of living with his fellow men and his ways of interpreting the world. You have also considered some of the difficult problems centering around modern industry as it expands and affects more and more all phases of life.

What then, will be the content of this course? Shall it consist of the “principles” of economics, or a study of many economic problems, or a perusal of the theoretical contribution of some authoritative economist, or something else? For better or for worse “something else” has been chosen, and that choice is roughly indicated by the title of the course, “The Organization of Economic Affairs.” The reasons for this choice and the manner of executing the task have been dictated by a number of considerations, which have to do broadly with three sorts of things: the nature of your previous experience; other curricular offerings both in and out of the field of economics; and modern descriptive and analytical trends in the study and teaching of economics. In no genuine sense will you be “specializing” even here. You will be given other opportunities for particular study: the curriculum offers courses in money and banking, labor problems, public finance, business cycles and the like.

This course will center about economic organization today. But “economic organization” is huge, sprawling and complex. The term itself is subject to considerable ambiguity. Unfortunately it is not possible to picture economic organization with the same degree of precision as might be attained in describing the layout of a given steel mill, or the organization of the United States Steel Corporation, or the organization of the steel industry. The latter type of task is puzzling enough, as you will observe in the first section of the course. But economic organization in the large is infinitely more complex and bothersome. In a hundred courses dealing with economic organization which might be offered in as many universities, it is probable that one hundred different plans of procedure would be invented. This is true of the approach to most bodies of subject matter. It is abundantly and poignantly true in the present case.

Economic affairs are in process of change. Even though this course is intended to be concerned strictly with the contemporary, rather than with the historical, it will in no sense be addressed to fixed or static conditions. It would be strange indeed, after spending a good part of two years in studying developing institutions, to assume that institutions have ceased changing. They must be caught on the wing. Changes are immediately behind us, around us, and before us. We shall probably not have frequent occasion to go back of 1920. And the impossibility of isolating a static “present” may force us into some slight projection of the future.

Another characteristic of the course is its use of quantitative data. Many, although not necessarily all, economic phenomena are matters of “more” or “less”. Quantitative tools are an increasingly important part of the equipment for the study of social phenomena. We can hardly fail to recognize this fact, whatever our private convictions as to the ultimate value of “statistics” in general, or whatever our like or dislike for playing with figures. Our quantitative data will not be used for exercises in statistical technique (there are other opportunities for that), but rather for the direct purpose of coming face to face with economic institutions in operation and discovering their meaning, or at least suggested interpretations of meaning. In this, there are two apparent dangers: (1) the student may not be able to interpret the data; (2) he may over-estimate its significance. The latter may be a real danger if a reader accepts too readily a conclusion drawn from statistical data or accepts even the elements of a statistical series, when ignorant of the methods that have been used by the statistician. We shall make our way with at least a forewarning of these dangers. Some comfort may be had from the avoidance of highly specialized and refined statistical procedures. It will be found that in many cases the authors of the materials used have shown a commendable candor in describing the limitations of their own methods.

A word as to the materials used. An emphasis on change, and the use of quantitative data, will be found to characterize the book which will provide about half the reading material: Recent Economic Changes. This is a two-volume work prepared by the National Bureau of Economic Research. It is the product of many minds. It is admittedly not perfect for our purposes; but it does present the most comprehensive and incisive picture available concerning American economic organization on the move. We present it as the best raw material for the purpose at hand. Supplementing this book various other materials appear in the outline of the course.

The outline does not follow the order of topics in Recent Economic Changes. A three-fold division of another sort is employed. First comes an analysis of a small number of important industries, in each case dealing with the industry’s technology, its business organization, and its leading problems and trends. This is for the purpose of providing specific materials for a concrete and realistic background. The classification by “industries”, rather than by topics which are common to all industries, is followed especially because the economic activities of everyday life are usually centered about some particular industry. Recent Economic Changesis not used in this section.

The second section deals with “industrial relationships”. Here we take leave of the boundaries between the specific industries such as steel and textiles, and begin to consider the institutions and practices which industries have in common, and which, taken together, provide consumers with goods and services. Included here are recent trends in industrial technology, transportation, marketing, labor, finance and especially the price system. Each of these topics is studies in its own terms and usually without confinement to any one industry. In this section the use of Recent Economic Changesas text prevails.

The third section deals with the income, the standards of living, and the consumption levels of the various groups of the population; and a consideration of desirable public policy toward the organization and conduct of industry. This study of policy will include not only some familiar current issues such as farm relief, tariff-making and trust policy, but also some larger questions of planned as against unplanned production. Here Recent Economic Changesassumes a somewhat subordinate place in the reading list.

The course centers about economic life as it is found in the United States today; but this does not imply a narrowly nationalistic viewpoint, or a total exclusion of international features of industrialism. These appear inevitably at various points and especially toward the latter part of the third section where planned and unplanned production are discussed with reference to the Russian five-year economic plan and the long-range economic program devised by the British Liberal Party, with reference as well to our own planning and control of industry during the emergency of the World War.

The fact that many or most of the topics listed are already familiar to college Juniors may cause the course to appear repetitive. Any annoyance on this score should be short-lived. The similarities in names of topics often conceal real differences. Since the course is built upon the foundations of the two-years’ study of “Contemporary Civilization”, a more concentrated and intense piece of study may be expected than would be if the extended survey had not already been made.

 

LIST OF REQUIRED READINGS

Recent Economic Changes in the United States.McGraw-Hill, 1929 (text).

Berglund, A. and Wright, P. G.: The Tariff on Iron and Steel. The Brookings Institution, Washington, 1929.

Black, J. D.: Agricultural Reform in the United States. McGraw-Hill, 1929.

Britain’s Industrial Future. Benn, 1928.

Chase, S., Dunn, R., and Tugwell, R.G.: Soviet Russia in the Second Decade. John Day, 1928.

Commons, J.R. and Andrews, J.B.: Principles of Labor Legislation(second edition). Harper, 1927. [First edition, 1920]

Ellingwood, A.R. and Coombs, W.: The Government and Labor. McGraw-Hill, 1926.

Foster, W.Z.: The Great Steel Strike and Its Lessons. Viking Press, 1920.

Garrett, P.W.: Government Control over Prices. (Price Bulletin No. 3, War Industries Board.) Government Printing Office, Washington, 1920.

Keezer, D.M. and May, S.: Public Control of Business. Harper, 1930.

Lewisohn, S.A., Draper, C.S., Commons, J.R., and Lescohier, D.D.: Can Business Prevent Unemployment?Knopf, 1925.

Page, T.W.: Making the Tariff in the United States. McGraw-Hill, 1924.

Seager, H.R. and Gulick, C.A., Jr.: Trust and Corporation Problems. Harper, 1929.

Stocking, G.W.: The Oil Industry and the Competitive System. Houghton Mifflin, 1925.

Tugwell, R.G.: Industry’s Coming of Age. Harcourt, Brace, 1927.

Tugwell, R.G., Munro, T., and Stryker, R.E.: American Economic Lifeand the Means of Its Improvement(third edition). Harcourt, Brace, 1930.

Warshow, H.T., Representative Industries in the United States. Holt, 1928.

ARTICLES

Hartl, E.M., and Ernst, E.G.: “The Steel Mills Today,” The New Republic, February 19, 1930

“Steel’s Empire is Restless.” The Business Week, February 12, 1930.

Tugwell, R.G.: “Farm Relief and a Permanent Agriculture,” Reprinted from The Annals of the American Academy of Political and Social Science, March 1929.

Tugwell, R.G.: “Experimental Control in Russian Industry,” Reprinted from the Political Science Quarterly, Vol. XLIII, No. 2, June 1929.

SCHEDULE OF ASSIGNMENTS

I. SOME IMPORTANT AMERICAN INDUSTRIES

    1. Preface to the course.
      Introduction to Section I.
    2. Berglund and Wright: The Tariff on Iron and Steel, 10-40, 75-103.
    3. Seager and Gulick: Trust and Corporation Problems, 216-242.
    4. Seager and Gulick, 243-262.
      “Steel’s Empire is Restless,” The Business Week, Feb. 12, 1930.
    5. W. Z. Foster: The Great Steel Strike, Introduction, 1-7, 16-27, 50-67, 162-175.
      Hartl and Ernst: “The Steel Mills Today,” The New Republic, Feb. 19, 1930.
    6. Reading to be assigned.
    7. Reading to be assigned.
    8. Reading to be assigned.
    9. G. W. Stocking: The Oil Industry and the Competitive System, 1-35.
    10. Stocking, 83-114.
    11. Stocking, 115-164.
    12. Stocking, 165-210.
    13. Stocking, 238-265, 303-314.
    14. H. T. Warshow: Representative Industries, 3-44.
    15. Warshow, 44-71.
    16. Meat Packing. Warshow, 440-469.

II. INDUSTRIAL RELATIONSHIPS

    1. Introduction to Section II.
      Changes in new and old industries. Recent Economic Changes, 79-95.
    2. Technical changes in manufacturing industries. Recent Economic Changes, 94-146.
    3. Technical Changes in manufacturing industries. Recent Economic Changes, 147-166.
    4. Suggested theories to account for increased productivity. R.G. Tugwell: Industry’s Coming of Age, 29-64.
    5. The changing structure of industry. Recent Economic Changes, 167-194.
    6. The changing structure of industry. Recent Economic Changes, 194-218.
    7. Recent Economic Changes, 425-462.
    8. Recent Economic Changes, 462-490.
    9. Proceedings, 1928 Convention of the American Federation of Full Fashioned Hosiery Workers.
    10. Excerpts from the Proceedings of the 1929 Special Convention of the American Federation of Full Fashioned Hosiery Workers (see Appendix).
    11. Transportation: railways. Recent Economic Changes, 255-279.
    12. Transportation: railways. Recent Economic Changes, 279-308.
    13. Transportation: shipping. Recent Economic Changes, 309-319.
    14. Recent Economic Changes, 321-343.
    15. Recent Economic Changes, 343-374.
    16. Recent Economic Changes, 374-402.
    17. Recent Economic Changes, 402-421.
    18. Money and credit and their effect on business. Recent Economic Changes, 657-679.
    19. Money and credit and their effect on business. Recent Economic Changes, 680-707.
    20. Foreign markets and foreign credits. Recent Economic Changes, 709-725.
    21. Foreign markets and foreign credits. Recent Economic Changes, 725-756.
    22. The system of prices. Tugwell, Munro, and Stryker: American Economic Life (third edition), 368-378.
      Excerpt from W. C. Mitchell: Business Cycles, the Problem and its Setting (see Appendix).
    23. Price movements and related industrial changes. Recent Economic Changes, 602-623.
    24. Price movements and related industrial changes. Recent Economic Changes, 623-655.

III. THE FRUITS OF INDUSTRY AND SOCIAL POLICY

    1. Introduction to Section III.
      Consumption and the standard of living. Recent Economic Changes, 13-51.
    2. Consumption and the standard of living. Recent Economic Changes, 51-78.
    3. The national income and its distribution. Recent Economic Changes, 757-774.
    4. The national income and its distribution. Recent Economic Changes, 774-813.
    5. The national income and its distribution. Recent Economic Changes, 813-839.
    6. Farm relief policy. J.D. Black: Agricultural Reform in the United States, 232-270.
    7. Farm relief policy. Black, 321-366.
    8. Farm relief policy. Black, 368-405.
    9. Farm relief policy. R.G. Tugwell: “Farm Relief and a Permanent Agriculture,” The Annals of the American Academy of Political and Social Science, March 1929.
    10. Tariff policy. T. W. Page: Making the Tariff in the United States, 41-99.
    11. Tariff policy. Page, 100-170.
    12. Tariff policy. Page, 171-239.
    13. Social legislation. Commons and Andrews: Principles of Labor Legislation, 1-34.
      Ellingwood and Coombs: The Government and Labor, 20-26.
    14. Social legislation. Ellingwood and Coombs, 443-450, 461-467.
      Reprint of Lochner vs. New York (see Appendix).
    15. Social legislation. Ellingwood and Coombs, 559-579, 516-537.
    16. Social legislation. Lewisohn, Draper, Commons, and Lescohier: Can Business Prevent Unemployment? 152-210.
    17. Public policy toward large businesses. Keezer and May: Public Control of Business, 40-84.
    18. Public policy toward large businesses. Keezer and May, 85-120.
    19. Public policy toward large businesses. Keezer and May, 121-148.
    20. Public policy toward large businesses. Keezer and May, 149-183.
    21. Public policy toward large businesses. Keezer and May, 184-229.
    22. Planned production in Russia. Chase, Dunn, and Tugwell: Soviet Russia in the Second Decade, 14-54.
    23. Planned production in Russia. Chase, Dunn, and Tugwell, 189-215, 55-66.
    24. Planned production in Russia. R.G. Tugwell: “Experimental Control in Russian Industry,” Political Science Quarterly, June 1929.
    25. Planned production in Great Britain. Britain’s Industrial Future, the report of the Liberal Industrial Inquiry, v-vii, xvii-xxiv, 3, 14-20, 61-92, 116-120.
    26. Planned production in Great Britain. Britain’s Industrial Future, 139-141, 205-225, 265-279, 341-366.
    27. War-time planning and control in the United States. Excerpt from American Industry in the War (see Appendix).
      W. Garrett: Government Control Over Prices, 23-39.
    28. War-time planning and control. Garrett, 40-87.
    29. War-time planning and control. Garrett, 151-194.
    30. War-time planning and control. Garrett, 195-244.
    31. War-time planning and control. Garrett, 350-360, 380-414.
    32. A review of recent economic changes. Recent Economic Changes, 841-874.
    33. A review of recent economic changes. Recent Economic Changes, 874-910.

Source: Copy of The Organization of Economic Affairs–A Syllabus (1930) at the New York Public Library.

Image Source: The New York City Public Library Reading Room. Library of Congress Prints and Photographs Division Washington, D.C.

 

 

 

Categories
Exam Questions Harvard Undergraduate

Harvard. Examinations for introductory economics. Taussig, Ashley, both Cummings, 1895-96.

 

This post follows up on the previous one that focused on the economic history module taught in Harvard’s introductory economics sequence by W. J. Ashley during the spring term of 1896. For the sake of convenience I have put together transcriptions of all the exams I was able to find for the jointly taught course “Outlines of Economics” (1895-96). The first exam below, the mid-year examination (final exam for the fall term of 1895), is most likely to be the work of Frank Taussig, with questions for the special topic modules covered in the second semester coming from Ashley, Edward Cummings and John Cummings (Chicago economics Ph.D., 1894).

_______________

Course Enrollment

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings. — Outlines of Economics. — Mill’s Principles of Political Economy.—Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation.

Total 338: 3 Graduates, 35 Seniors, 91 Juniors, 161 Sophomores, 8 Freshmen, 40 Others.

Source: Harvard University. Annual Report of the President of Harvard College 1895-96, p. 63.

_______________

1895-96.
ECONOMICS 1.
[Mid-Year Examination]

  1. Is all wealth produced by labor?
  2. Compare the distinction between fixed and circulating capital with the distinction between auxiliary and remuneratory capital; and state why one or the other distinction is the more satisfactory.
  3. Are differences in profits from employment to employment similar in kind to differences in wages from occupation to occupation?
  4. In what way are differences of wages affected by the absence of effective competition between laborers? By its presence?
  5. What are the grounds for saying that rent is a return differing in kind from interest?
  6. Trace the effects of an issue of inconvertible paper money, less in quantity than the specie previously in use, on (1) the circulation of specie, (2) the foreign exchanges, (3) the relations of debtor to creditor.
  7. State Mill’s reasoning as to the mode in which, under a double standard, one metal is driven from circulation; and explain how the actual process differs from that analyzed by Mill.
  8. What are the grounds for saying that the gain of international trade does not come from the sale of surplus produce beyond the domestic demand?
  9. In what manner is the price of landed property affected by an increased quantity of money? by a rise in the rate of interest?
  10. Wherein does monopoly value present a case different from that of the usual operation of the laws of value?

Source: Harvard University Archives. Mid-year examinations,  1852-1943(HUC 7000.55). Box 3, Examination Papers Mid-years, 1895-96.

_______________

1895-96.
ECONOMICS 1.
[W.J.A., Hour Examination. March 13, 1896]

Please write on three questions only.

  1. Mill remarks in his Autobiography that the distinction between the laws of the production and those of the distribution of wealth was the most important contribution he made to Political Economy. Explain this.
  2. What does Jones mean by the division of Rents into Peasant and Farmer’s Rents?
  3. Give a brief account of the stages of industrial development.
  4. Draw a parallel between the town policy of the 15thcentury and the national policy of the 18th.
  5. Was Frederick the Great justified in his attempt to introduce the silk manufacture into Prussia?

_______________

1895-96.
ECONOMICS 1.
[Final Examination]

[Answer ten questions. Arrange your answers strictly in the order of the questions.]

Group I.
[At least one.]

  1. Explain the meaning of two of the following terms, — margin of cultivation; wages of superintendence; rapidity of circulation (as to money).
  2. Do profits constitute a return different from interest?
  3. Explain what is meant by the law, or equation, of demand and supply; and in what manner it applies to commodities susceptible of indefinite multiplication without increase of cost.
  4. In what manner does a country gain from the division of labor in its domestic trade? In what manner from international trade?

Group II.
[At least one.]

  1. Does it fall within the province of the economist to discuss the institution of private property?
  2. Show the connection between the industrial development of the present century, and the discussion among economists as to the functions of the entrepreneur.
  3. Consider in what manner prices, or rents, [choose one] are differently determined according as they are under the influence of custom or of competition.
  4. “The idea that economic life has ever been a progress mainly dependent on individual action is mistaken with regard to all stages of civilization, and in some respects it is more mistaken the farther we go back.” Explain and criticize.

Group III.
[At least one.]

  1. If cooperation were universally adopted, what would be left of the wages system?
  2. Is there anything in what you learned as to the laws governing wages, which the action of the English trade-unions in regard to wages has disregarded?
  3. Has the course of events justified Mill’s expectations in regard to the development of profit-sharing and of cooperation? Explain why, or why not.
  4. Describe the trade and benefit features of the English trade-unions.

Group IV.
[At least three.]

  1. Is the present position of the Treasury of the United States in any respect essentially similar to that of the Issue Department of the Bank of England? In any respect essentially dissimilar?
  2. What is the test of over-issue, as to inconvertible paper money? What light does the experience of the United States and of France throw on the probability of over-issue?
  3. Arrange in their proper order the following items in a bank account:—

Capital

100,000

Bonds and Stocks 75,000
Specie

150,000

Surplus 50,000

Notes

100,000 Other Assets 50,000
Loans 400,000 Other Liabilities 60,000

Expenses

25,000 Undivided Profits 40,000

Deposits

350,000

Could this bank be a national bank of the United States? If such a bank, how would the account stand?

    1. Compare the policy of the Bank of England in times of financial crisis with the policy of the Associated Banks of New York; and give an opinion as to which is the more effective in allaying panic.

 

Source: Harvard University Archives.  Examination papers in economics, 1882-1935 [of] Prof F.W. Taussig (HUC 7882), p. 53.

Image Source:  Gore Hall (Library). Souvenir Guide Book of Harvard College and its Historical Vicinity, Cambridge, Massachusetts: F. A. Olsson, 1895.

Categories
Economic History Exam Questions Harvard Suggested Reading Syllabus Undergraduate

Harvard. Syllabus for Economic History Module in Principles Course. Ashley, 1896.

 

For several years at the end of the 19th century Harvard’s introductory course in economics consisted of a two semester sequence. The fall semester was dedicated to theoretical Principles of Economics à la John Stuart Mill followed by the spring semester that covered specific topics, e.g. economic history, social policy, monetary arrangements.

The economic history module was taught by Professor William J. Ashley and ran for five weeks. The material was tested once in a one-hour mid-term exam and then again in the course final examination (students were to answer at least one of four questions in Group II below).

I have only found a complete set of syllabus, reading assignments, and exam questions for Ashley’s module. In the next post, you will find all the course exams for 1895-96 that were pasted into Frank Taussig’s personal scrapbook of exams for all the courses he taught during his long Harvard career.

_________________

Course Enrollment

[Economics] 1. Professors Taussig and Ashley, Asst. Professor Edward Cummings, and Dr. John Cummings. — Outlines of Economics. — Mill’s Principles of Political Economy.—Lectures on Economic Development, Distribution, Social Questions, and Financial Legislation.

Total 338: 3 Graduates, 35 Seniors, 91 Juniors, 161 Sophomores, 8 Freshmen, 40 Others.

Source: Harvard University. Annual Report of the President of Harvard College 1895-96, p. 63.

_________________

Economic History Module
William J. Ashley

ECONOMICS 1.
LECTURES ON ECONOMIC DEVELOPMENT

Weekly Syllabus 1.

Prescribed Reading for the week: J. S. Mill, Principles of Political Economy, Book II, Chapters 2-5. R. Jones, Peasant Rents, Chapters 1 and 2, and Appendix pp. 169-182. G. Schmoller, The Mercantile System, pp. 1-13.

N.B. 1. The prescribed reading for the whole period covered by this set of lectures will deal with same general topics as will be considered in the lectures. But it will not be possible to make the reading of each week exactly parallel, in every case, with the lectures of that week.
2. There will be a question set every Friday, and 15 minutes allowed for answering it, on some subject suggested by the reading and lectures of that week.

  1. The Historical Movement of the 19th Century.
    Its causes:

    1. The “Romantic” Reaction against the 18th century “Enlightenment.”
    2. Evolutionary Philosophy—Hegel, Comte, Spencer.
    3. Evolutionary Biology—Darwin.
    4. Anthropology—Tylor.

Its intellectual effects:

    1. Interest in the Middle Ages.
    2. Sense of Continuity—“Uniformitarianism.”
    3. Sense of Relativity.
    4. Changed conception of the relation of the Present to the Past and the Future.
  1. Influence of the Historical Movement on other studies:
    1. On Law—Savigny, Maine.
    2. On Theology—“The Higher Criticism.”
    3. On Economics.
      The older and newer Historical Schools of Economists—Roscher, Schmoller.
  1. Value of Economic History:
    1. For its own sake.
    2. For a right estimate of modern economic theory.
    3. For insight into modern economic facts.

Provisional use of the conceptions of “Stages.”

Preliminary consideration of certain attempts to group all the phenonomena of economic history under a single formula:

    1. Friedrich List. The Five Stages in the development of the peoples of the temperate zone.
    2. Bruno Hildebrand. Naturalwirthschaft, Geldwirthschaft, Creditwirthschaft.

Weekly Syllabus 2.

Prescribed Reading for the week: J. S. Mill, Principles of Political Economy, Book II, Chapters 6-7. R. Jones, Peasant Rents, Chapter 3, and Appendix pp. 183-190. G. Schmoller, The Mercantile System, pp. 13-43.

Preliminary consideration of current generalisations concerning the development of particular sides of economic life:

Agriculture

Extensive:

    1. Shifting Tillage (Wildfeldgraswirtschaft)

Intensive:

    1. Open Field System (Three field system, Dreifelderwirthschaft).
    2. Convertible Husbandry (Feldgraswirthschaft).
    3. Rotation of Crops (Fruchtwechselwirtschaft).

Industry  (Manufacture)—

    1. The Family System (Familienindustrie, Hausfleiss).
    2. The Gild System (Handwerk).
      1. Wage-work.
      2. Work for sale.
    3. The Domestic System (Hausindustrie, Verlags-system.)
      1. Domestic system proper.
      2. Wage-work.
    4. The Factory System
      With and without machinery.

Weekly Syllabus 3.

Prescribed Reading for the week: J. S. Mill, Principles of Political Economy, Book II, Chapters 8-10. R. Jones, Peasant Rents, Chapter 4, and Appendix pp. 190-207. G. Schmoller, The Mercantile System, pp. 43-57.

Preliminary consideration of current generalisations of the anthropologists concerning prehistoric development:

Property

Tribal Ownership and Family Ownership.
Individual Ownership of Movables.
Individual Ownership of Land.

Theories of Early Agrarian Communism.—Recent Discussions.

Progress of the Arts of Subsistence(Morgan) —

Savagery —

Older period—Fruits and Roots.
Middle period—Fish and Fire.
Later period—Game and the Bow.

Barbarism —

Older period—Pottery.
Middle period—Pastoral Life.
Later period—Iron and Agriculture.

Civilisation —

Sketch of the Economic Development of the European Peoples since the Early Middle Ages.

Reasons for this limitation.

  1. Period of Village or Manorial Economy.
    1. Sketch of Manorial System:

Lord and Serfs.
Demesne and Land in Villenage.
Open Fields.
Week-work and Boon-Days.

  1. Economic Characteristics:

“Natural-economy.”
Self-sufficiency.
Stability.

Relative absence of conditions usually assumed by modern economists.

Weekly Syllabus 4.

Prescribed Reading for the week: J. S. Mill, Principles of Political Economy, Preliminary Remarks. R. Jones, Peasant Rents, Chapters 5 and 6. G. Schmoller, The Mercantile System, pp. 57-91.

Interacting phenomena: (1) Commutation of Services, (2) The Rise of Markets.
Appearance of town life in the midst of conditions still predominantly agricultural.

  1. Period of Town Dominance.
    1. The Town Economy:

The Town Market: The Gild Merchant.
The Town Industry: The Craft Gilds.
Subordination of the Country Districts.

    1. The Beginnings of Modern Economic Conditions:

Wage-labor.
Capital.
Profit.

[Then followed in Germany a Period of Territorial Economy.
Its characteristics.
Question whether such a period is distinctly marked in France or England.]

 

  1. Period of National Economy.

Strong central governments.
The spirit of Nationality.
Mercantilism, its Origin, Purpose and Methods.

A. National Economy and Domestic Industries

    1. The new influence of Capital:

On Industry.
On Agriculture.

    1. The action of the State:

Control of Commerce.
Encouragement of Manufactures.
Industrial Legislation.

Weekly Syllabus 5.

Prescribed Reading for the previous month, to be revised: J. S. Mill, Principles of Political Economy, Preliminary Remarks and Bk. II, chs. 1-10. R. Jones, Peasant Rents. G. Schmoller, The Mercantile System.

  1. Period of National Economy.

B. National Economy and the Factory System.

    1. Necessary Characteristics of the Factory System.
    2. The World-Market, and Fluctuations of Trade.
    3. Break-up of the Old Industrial Organisation; due to (a) changed conditions, (b) the influence of ideas of natural liberty.
    4. The Age of Individualism, and Industrial Freedom.

Question whether the beginnings may be discerned of a Period of International or World Economy.

Note: The various recent movements towards the reconstruction of a stable industrial organization, and the solution thereby of the “Labor Question,” will be the subjects of the lectures during the following weeks by Professor Cummings.

Source: Harvard University Archives. Syllabi, course outlines and reading lists in economics, 1895-2003 (HUC 8522.2.1). Box 1, Folder “1895-1896”.

_________________

1895-96.

ECONOMICS 1.
[W.J.A., Hour Examination. March 13, 1896]

Please write on three questions only.

  1. Mill remarks in his Autobiographythat the distinction between the laws of the production and those of the distribution of wealth was the most important contribution he made to Political Economy. Explain this.
  2. What does Jones mean by the division of Rents into Peasant and Farmer’s Rents?
  3. Give a brief account of the stages of industrial
  4. Draw a parallel between the town policy of the 15thcentury and the national policy of the 18th.
  5. Was Frederick the Great justified in his attempt to introduce the silk manufacture into Prussia?

    _________________

1895-96.

ECONOMICS 1.
[Final Examination]

[Answer ten questions. Arrange your answers strictly in the order of the questions.]

Group I.
[At least one.]

  1. Explain the meaning of two of the following terms, — margin of cultivation; wages of superintendence; rapidity of circulation (as to money).
  2. Do profits constitute a return different from interest?
  3. Explain what is meant by the law, or equation, of demand and supply; and in what manner it applies to commodities susceptible of indefinite multiplication without increase of cost.
  4. In what manner does a country gain from the division of labor in its domestic trade? In what manner from international trade?

Group II.
[At least one.]

  1. Does it fall within the province of the economist to discuss the institution of private property?
  2. Show the connection between the industrial development of the present century, and the discussion among economists as to the functions of the entrepreneur.
  3. Consider in what manner prices, or rents, [choose one] are differently determined according as they are under the influence of custom or of competition.
  4. “The idea that economic life has ever been a progress mainly dependent on individual action is mistaken with regard to all stages of civilization, and in some respects it is more mistaken the farther we go back.” Explain and criticize.

Group III.
[At least one.]

  1. If cooperation were universally adopted, what would be left of the wages system?
  2. Is there anything in what you learned as to the laws governing wages, which the action of the English trade-unions in regard to wages has disregarded?
  3. Has the course of events justified Mill’s expectations in regard to the development of profit-sharing and of cooperation? Explain why, or why not.
  4. Describe the trade and benefit features of the English trade-unions.

Group IV.
[At least three.]

  1. Is the present position of the Treasury of the United States in any respect essentially similar to that of the Issue Department of the Bank of England? In any respect essentially dissimilar?
  2. What is the test of over-issue, as to inconvertible paper money? What light does the experience of the United States and of France throw on the probability of over-issue?
  3. Arrange in their proper order the following items in a bank account:—
Capital 100,000 Bonds and Stocks 75,000
Specie 150,000 Surplus 50,000
Notes 100,000 Other Assets 50,000
Loans 400,000 Other Liabilities 60,000
Expenses 25,000 Undivided Profits 40,000
Deposits 350,000

Could this bank be a national bank of the United States? If such a bank, how would the account stand?

  1. Compare the policy of the Bank of England in times of financial crisis with the policy of the Associated Banks of New York; and give an opinion as to which is the more effective in allaying panic.

Source: Harvard University Archives.  Examination papers in economics, 1882-1935 [of] Prof F.W. Taussig (HUC 7882), p. 53.

 

Image Source: Entry for William James Ashley in University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol II (1899), p. 595.

Categories
Economic History Exam Questions Harvard Undergraduate

Harvard. First Undergraduate General and Specific Exams in History, Government and Economics Division, 1916.

 

In this post we can read some of the history behind the establishment of Harvard’s undergraduate tutorial and divisional examination system for which the Division of History, Government, and Economics served as an early testing ground. The first general examination of that division along with the “specific” economics field examinations from 1916 are transcribed below.

__________________

Backstories regarding the Division Examinations in History, Government, and Economics

History of Origin and Growth of the Tutorial System
Shows Gradual Incorporation in All Departments But Chemistry
Introduction of General Exams In Medical School Made Entrance Wedge
January 10, 1933

Excerpts from a brief history of the General Examinations and the Tutorial System recently published by the University follows below.

In the spring of 1910 a committee was appointed which examined the system prevailing in American medical schools of granting the degree upon an accumulation of credits in courses, and the European system of two general examinations, the earlier upon the general scientific or laboratory subjects and the final one upon the clinical branches. The committee recommended the adoption of the latter system, and after its provisional approval by the Faculty of Medicine in March of the following year, another committee, mainly of different members, worked out a plan which was adopted by that Faculty in October, 1911.

Adopted by Divinity School

Shortly after its adoption in the Medical School the idea of a general examination invaded departments at Cambridge. In the academic year 1911-12 it was adopted in the Divinity School for the degrees of Bachelor and Master of Theology; and in this case it seems to have worked well from the start. Meanwhile the division of History, Government and Economics had been considering the matter, and after a year of careful study formulated a plan which as sanctioned by the Faculty of Arts and Sciences in the winter of 1912-13. The examination was to be conducted by the division and in fact by a committee of three of its members appointed by the President, who were to be relieved of one half of their work of instruction. It was to consist of both written and oral tests, was to be required of all college students concentrating in that division, in addition to their courses, and was to go into effect with the class entering the following autumn. Authority was also given to supplement by tutorial assistance the instruction given in the courses. Thus the complete system of a general examination and tutors was set up for all undergraduates in one division, and the one which at the time had the largest number of concentrators.

Trial Seems in Danger

The plan was put into effect without serious obstacles. The number of students concentrating in these subjects did, indeed, diminish, the weaker of more timid seeking departments where no such examination barred the way; out that was no harm, and proved to be in large part a temporary effect. The preparing of examination questions, which had been supposed very difficult, was exceedingly well done by an able committee. Yet the plan was not at once wholly successful. Tutorial work was new, and men equipped for it were not to be found. They had to learn the art by their own experience, and by what they derived from an exchange of tutors for a year with Oxford and Cambridge. In fact, after a few years of trial the plan seemed in danger of breaking down. The benefits were not at once evident; some of those formerly in favor of it became skeptical, while opponents were confirmed in their opinions. Until we entered the World War the only other field of concentration which had adopted a general examination of all students for graduation was that of History and Literature, although something of the kind had long been in common use in the case of candidates for distinction or honors.

Crisis Comes After War

The crisis came at the close of the war, when the changes made for military purposes in all instruction had left matters in a somewhat fluid state. A committee of the Faculty was appointed to consider what, if any, extension of the principle could profitably be made in other fields. There was a feeling that such a system ought not to be maintained in one class of subjects alone; that it should either be abolished or extended. After a study of the question in its various phases the committee reported, and in April, 1919, the Faculty voted, that general examinations should “be established for all students concentrating in Divisions or under Committees which signify their willingness to try such examinations,” and that they “be employed for the members of the present Freshman class.” Thereupon all the divisions under the Faculty, except those dealing with mathematics and the natural sciences, decided to make the experiment. Some of them did so reluctantly, with misgiving, and under a condition that they should not be obliged to employ tutors. By the academic year 1924-25, therefore, the students in all the divisions with a general examination had the benefit of tutoring.

Adopted by All Departments

Since that time the progress of the system has been gradual but continuous. In 1926 the departments of mathematics, biology, and bio-chemical sciences adopted it; and in 1928 geology and physics were added to the list; leaving chemistry as the only department with a large number of concentrators that still retains the older methods, and its work is done so much in laboratories that its position is peculiar. The only change in the system has come from a demand by the students themselves. There has been no desire on the part of the University to abandon teaching or examination in courses by copying the practice at Oxford and Cambridge of leaving instruction wholly to the tutor, as that would have seemed ill-adapted to the habits of the College.

Source: Harvard Crimson, January 10, 1933.

 

TUTORIAL SYSTEM HEREAFTER
Rules for Concentration in History, Government and Economics Will Apply Next Year.
April 10, 1914

Beginning with the class of 1917 and applying to all subsequent classes, a new rule in regard to concentration in the Division of History, Government and Economics has been adopted.

Concentration in this Division requires at least six courses which are related to each other. Under the new system all students concentrating in this division will be required to pass in their Senior year a final examination covering their special field within the Division, and consisting of a written examination early in the spring, and an oral examination toward the close of the year. In order to prepare students for these examinations the University will provide special tutors beginning with the Sophomore year.

Only Two Introductory Courses.

Every student intending to concentrate in History, Government, and Economics should state the Department in which he will take at least four courses and the Department in which he will take the remaining two. He will not be allowed to count towards his concentration more than two of the introductory courses, History 1, Government 1, and Economics A. The aim of the system is to enforce a more accurate knowledge and comprehension of studies as a whole. This aim has frequently not been achieved owing to the wide scattering of courses.

Source: Harvard Crimson, April 10, 1914.

 

 

THE TUTORIAL SYSTEM.
April 10, 1914

There are two new features in the recently announced requirements of the Division of History, Government and Economics, namely, the general examination and the tutorial system. And they are complementary. The task of the tutor is to intelligently guide the student in his preparation for the final examination, to assist him in that organization and correlation of his work which is the key-note of the plan. His work begins where the adviser’s work ends. The adviser still superintends the choice of courses made by the student although it is to be expected, probably, that a capable tutor will tend to influence this choice. It will be impossible so sharply to distinguish the task of choosing courses and correlating them as to prevent this. The sanction of the adviser may approximate formal permission, with the guiding force held by the tutor.

The general examination on the other hand, modelled after the plan in use for doctorate examinations, including a general examination for the division work and a supplementary special test for the department or field, reaches over the whole matter of choice and organization and focuses the work of the adviser, tutor and student.

One result is inevitable, that is, the effect of producing a more serious scientific attitude toward the work. The student who chooses this Division will be presumed to have made the choice with serious intent to perfect himself in that line. The student who chose that work because he had to concentrate in something may well feel he is getting more than he bargained for. This is not a criticism; the result-to make study in that division more in the way of laboratory work, to lift it out of the region of inconsequent eclectic undergraduate education may be more serious. The decline or increase in the number of men in the Division will show to what an extent the work there is taken for serious reasons, not as a line of least resistance.

The effect in minimizing course grades, cramming, and mechanical study can only be helpful. To produce capable and broad-minded students, with a wide grasp of their field and an accurate knowledge of their specialty is the very desirable end to which the system aims. And that not by more work but by better organization.

 

Source: Harvard Crimson, April 10, 1914.

 

From the Annual Reports of the President of Harvard College

… the single course is not, and cannot be, the true unit in education. The real unit is the student. He is the only thing in education that is an end in itself. To send him forth as nearly a perfected product as possible is the aim of instruction, and anything else, the single course, the curriculum, the discipline, the influences surrounding him, are merely means to the end, which are to be judged by the way they contribute and fit into the ultimate purpose. To treat the single course as a self-sufficient unit, complete in itself, is to run a danger of losing sight of the end in the means thereto…

…In the College the problem of making the student, instead of the course, the unit in education is more difficult than in the other parts of the University, because general education is more intangible, more vague, less capable of precise analysis and definition, than training for a profession. Nevertheless, in the College, some significant steps have been taken which tend in this direction. The first was the requirement that every student must concentrate six of his seventeen courses in some definite field, must distribute six more among the other subjects of knowledge, and must do so after consulting an instructor appointed to advise him….

…The rule of concentration, coupled with the provision that no tmore than two of the six courses shall be of an elementary character, is intended to compel every man to study some subject with thoroughness, and acquire a systematic knowledge thereof….

…The second step in treating the student, instead of the course, as the unit in education, was taken by the Division of History, Government, and Economics, when, and with the approval of the Faculty, it set up the requirement of a general examination at graduation for students concentrating in that division. The examination, which is entrusted to a committee representing the three departments within the division, is to be distinct from that in the courses elected, and is to include not only the ground covered in them, but also the general field with which they have dealt, and the knowledge needed to connect them. This is a marked departure from the plan of earning a degree by scoring courses; and it will take time to adjust men’s conceptions of education to a basis new to the American college, though familiar in every European university. To assist the students in preparing themselves for the general examination each of them at the beginning of his Sophomore year is assigned to the charge of a tutor who confers with him about his work and guides his reading outside of that required in the courses. As the plan could be applied only to men entering after it was established, the first examinations will be held next spring [1916], and then only for men who graduate in three years.

Source: Harvard University. Report of the President of Harvard College, 1914-15, pp. 8-10.

Courses are merely a means to an end, and that end is the education of the student. One method of placing courses in their true light as a means of education is the provision of comprehensive examinations for graduation, covering the general field of the student’s principal work beyond the precise limits of the courses he has taken. This has long been done in the case of the doctorate of philosophy; and in the year covered by this report [1915-16] it was applied for the first time to undergraduates concentrating in the Division of History, Government, and Economics. Only twenty-four students of the Class of 1917, who finished their work in three years and concentrated in this field, came under its operation; but they were numerous enough to give a definite indication of the working of the plan. To that extent the results were satisfactory. The examination papers were well designed for measuring the knowledge and grasp of the subject, with a large enough range of options to include the various portions of the field covered by the different candidates; and the examiners themselves were satisfied with the plan as a fair means of testing the qualification of the students. During the coming year a much larger number of men will come up for this comprehensive examination, which promises to mark a new departure in American college methods.

Source: Harvard University. Report of the President of Harvard College, 1915-16, p.19.

A significant event of the year [1915-16] was the inauguration by the Division of History, Government, and Economics of its new examination of candidates for the Bachelor’s degree who have concentrated in the Division. This examination was devised “not in order to place an additional burden upon candidates for the A.B., but for the purpose of securing better correlation of the student’s work, encouraging better methods of study, and furnishing a more adequate test of real power and attainment.” In their preparation students have from the beginning of the Sophomore year special tutorial instruction. The examination embraces three tests: first, a general paper, with a large number of alternative questions, treating comprehensively the subjects of the Division; second, a special paper, covering a chosen specific field; and lastly, a supplementary oral examination which may relate to either the general or the special paper, but ordinarily bears upon the specific field. The results of the first examination, taken by a comparatively small group of men graduating in three years, are in no way conclusive. The members of the examining committee, however, think them distinctly encouraging. Twenty-four candidates appeared, of whom twenty-two passed and two failed. Their selection of questions from the general paper indicated breadth of preparation and their bearing at the oral examination showed more than a little clearness and independence of thought.

Source: Harvard University. Report of the President of Harvard College, 1915-16, pp.75-76.

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DIVISION OF HISTORY, GOVERNMENT AND ECONOMICS
DIVISION EXAMINATIONS FOR THE DEGREE OF A. B.
1915–16

GENERAL DIVISION EXAMINATION

Part I

The treatment of one of the following questions will be regarded as equivalent to one-third of the examination and should therefore occupy one hour. Write on one question only.

  1. Compare the Empires of Rome and of Charlemagne.
  2. Discus the influence of religious ideas on national life and institutions in the Americas.
  3. What were the principal factors in the development of the United States from (a) 1776 to 1818, or (b) 1818 to 1861, or (c) 1861 to 1898, or (d) 1898 to the present?
  4. Discuss and illustrate the economic bases of political party allegiance.
  5. Explain the influence of British policy upon international law.
  6. Why do the peoples of the temperate zones tend to assume leadership among the peoples of the earth?
  7. How does the federal form of government affect the life of a nation?
  8. Sketch the political and economic careers of two of the following: (a) Cobden, (b) Bright, (c) Hamilton, (d) Chase, (e) Colbert, (f) Jaurès.
  9. Compare English, French, and Spanish colonial methods and policies in the New World.

 

Part II

Five questions only from the following groups, A, B, and C, are to be answered, of which three must be from one group. The remaining questions must be taken, one from each of the other groups, or both from one of the other groups.

 

A

  1. In what respects has Roman political organization influenced Western Europe of modern times?
  2. What has been the effect of the embodiment of nationalities in political unities during the nineteenth century?
  3. Why was the influence of Metternich so potent?
  4. Discuss as to municipalities: “The citizens may have as good government as they care to demand.”
  5. To what extent are the constitutional principles of the United States common among Central and South American States?
  6. Why were spheres of interest claimed in Africa and in Asia in the late nineteenth and early twentieth centuries?
  7. To what extent and why should national party preferences be followed in state and municipal elections?
  8. In what countries has municipal government been more highly developed; why and with what results for the citizen and for the municipality?

 

B

  1. The development of the idea of the Balance of Power up to the Peace of Utrecht.
  2. Show how Europe influenced the Far East in the second half of the nineteenth century.
  3. What services did the English colonies in America render to the mother country previous to 1763?
  4. Explain the influence of pro-slavery sentiment on the expansion of the United States.
  5. Explain causes and results of European immigration into the United States within the last fifty years.
  6. Show the development of steam transportation in Europe and its results.
  7. Why are recent constitutions of states in the United States generally lengthy documents?
  8. Write briefly on five of the following: (a) Abelard, (b) Copernicus, (c) Erasmus, (d) Vasco de Gama, (e) Grotius, (f) Huss, (g) Justinian, (h) Locke, (i) Petrarch, (j) Rousseau.

 

C

  1. Is the trust a desirable feature of modern economic organization?
  2. Should England modify her policy of free trade?
  3. Trace and explain the history of the Interstate Commerce Commission.
  4. What caused the failure of the Confederacy?
  5. Analyze the three most important political aspects of the socialist movement; the three most important economic aspects.
  6. To what extent was the failure of the first Bank of the United States to secure a renewal of its charter due to political factors; to what extent, to economic?
  7. What have been the economic and political consequences of state ownership of the railways of Prussia?
  8. Account for the modern increase of public expenditures in (a) Europe; (b) American city government; (c) the Federal government of the United States.

April 27, 1916.

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DIVISION SPECIAL EXAMINATION
Economic history

Answer six questions.

A
Take from this group at least one and not more than two.

  1. Considered in its theoretical aspects the tariff policy of the United States since 1845.
  2. What factors have contributed most to changes in the distribution of wealth in the United States since 1870?
  3. Trace the development of uniform accounting for railroads in this country. Indicate any connections between your uniform accounting and government regulation of the railroads.
  4. Analyze the merits and defects of our current statistics of (a) imports and exports; or (b) wholesale prices; or (c) wages; or  (d) industrial organization.

 

B
Take from this group at least two and not more than four.

  1. Compare tariff changes in England and Germany during the nineteenth century.
  2. Discuss the essential features of the labor movement in England from 1825 to 1850.
  3. What have been the different lines of development in the combination movement in England?
  4. Discussing the economic aspects of the American Revolution with respect to (a) factors contributing to the revolution; (b) resources affecting the outcome; (c) consequences of the War.
  5. Explaining any important national policies developed in the United States between 1815 and 1830.
  6. Write the monetary history of United States during one of the following periods: (a) 1792-1837; (b) 1879-1893; (c) 1893-date.
  7. Trace the history of our mercantile marine, giving special attention to significant government policies.
  8. Give a brief account of organized labor in the United States.
  9. Indicate any important changes in American agriculture since 1900.

 

C
Take from this group at least one and not more than two.

  1. Has private ownership of the railroads justified itself in the United States? What is the case for and against government ownership of railroads in this country?
  2. Explain and criticise the presence policy of the Federal government regarding industrial combinations.
  3. Discuss critically the project of a non-partisan Federal tariff board.
  4. Discuss the causes, extent, and consequences of the change in the price level since 1897.

May 5, 1916.

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DIVISION SPECIAL EXAMINATION
Money and Banking

Answer six questions.

A
Take from this group at least one and not more than two.

  1. State and criticise the quantity theory of money.
  2. Analyze a typical bank statement.
  3. Discuss index numbers of prices with reference to (a) the purposes they may serve; (b) various methods of construction; (c) the best index numbers for wholesale prices in the United States.
  4. Where should you look for statistics of the following : (a) bank clearings of England and the United States; (b) resources and liabilities of banks in Massachusetts; (c) foreign exchange rates in New York in 1903; (d) the monetary stock of the United States; (e) current changes in the value of gold?

 

B
Take from this group at least one and not more than two.

  1. Compare the adoption of the single gold standard by England and by Germany.
  2. To what extent, and by what means, has the financial administration of the Federal government in the United States influenced our monetary history?
  3. Give a critical account of the greenbacks from 1862 to 1878. Indicate all factors, political and other, connected with this episode of monetary history.
  4. Analyze the factors leading to the adoption of the Federal Reserve banking system. Compare these factors with those leading to the establishment of the National banking system.

 

C
Take from this group at least two and not more than four.

  1. Describe and criticise the existing monetary system of the United States.
  2. Explain and illustrate the gold exchange monetary standard.
  3. What different meanings have been suggested for stabilizing the value of our monetary standards? What objections, if any, are to be raised against each of the proposed measures?
  4. Distinguish the different kinds of banking. To what extent should they be conducted by the same institutions? To what extent have they been combined in the United States? In any other countries?
  5. What measures have been adopted before 1914 by the Bank of England to prevent or allay financial panics? What action was taken in 1914 to meet the banking conditions created by the outbreak of the European War?
  6. Indicate any connections which have existed between the banks and the railroads within the United States.
  7. How and why has the European War affected foreign exchange between United States and other countries?
  8. Account for the financial panic of 1907. To what extent, and by what means, does the Federal Reserve system promise to prevent the recurrence of the conditions of 1907?

May 5, 1916.

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DIVISION SPECIAL EXAMINATION
Corporate Organization, including Railroads

Answer six questions.

A
Take from this group at least one and not more than two.

  1. Discussed critically the “economies of industrial combination.”
  2. What official statistics throw light upon industrial organization in the United States? Criticize the available statistics of the subject.
  3. Trace the development of uniform accounting for railroads in this country. Indicate any connections between uniform accounting and government regulation of the railroads.
  4. Enumerate the principal sources of railway statistics at the present time, Shelbi and show the content, importance, and deficiencies (if any) of each.

 

B
Take from this group at least one and not more than two.

  1. What has been the policy of American states with respect to business corporations?
  2. What have been the different lines of development in the combination movement in England?
  3. Compare the history of water transportation in the United States, England, and Germany.
  4. Give an account of the “trust movement” in the United States since 1898.

 

C
Take from this group at least two and not more than four.

  1. Describe in detail how control is vested and exercised in a typical modern business corporation.
  2. Describes the formation of some large industrial combination effected in the United States since 1898.
  3. What have been the more important economic and social consequences of the corporate organization of industry?
  4. What connections exist between banks and industrial combinations in the United States? Contrast the situation here with that in Germany.
  5. Discuss the Federal Trade Commission with respect to (a) the reasons for its establishment; (b) its tenure of office and powers; (c) its probable future.
  6. Upon what different bases may railway systems be appraised? What are the merits and defects of each of the bases indicated?
  7. Discuss standards of reasonableness (a) for the general level of railway rates; (b) for rates on particular commodities.
  8. Give an account of the relations between organize labor and our railroads.
  9. What different relationships as to ownership, management, and regulation may exist between the government and public service industries? Criticise in turn each of these possible relationships.

May 5, 1916.

 

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DIVISION SPECIAL EXAMINATION
Public Finance

Answer six questions.

A
Take from this group at least one and not more than two.

  1. Discuss critically the different theories of justice and taxation.
  2. From an accounting point of view, wherein are municipal accounts essentially unlike business accounts? What factors impair the value of municipal accounts?
  3. Outline a system of uniform municipal accounts. What provisions have been made in the United States for the use of the uniform municipal accounts?
  4. What are the chief sources of public finance statistics in the United States?

 

B
Take from this group at least one and not more than two.

  1. Give the history of the Federal public land policy to 1835. Show any connections between the public land policy and the treatment of the public debt.
  2. Sketch the development and present status of the general property tax in this country.
  3. Givs a critical account of the Independent Treasury of the United States.
  4. Distinguish “direct” and “indirect” taxes. Describe the separation of direct and indirect taxation under our system of national and state governments. What were the reasons for this separation? What have been its consequences, economic and political?

C
Take from this group at least two and not more than four.

  1. For what different objects has taxation been employed? Give illustrations. What is to be said for and against the employment of taxation for each of the purposes indicated?
  2. Formulate and defend a plan for a state income tax.
  3. Discuss inheritance taxes in the United States with reference to (a) the employment of inheritance taxes by state and Federal governments; (b) The rates applied; (c) the use of progressive rates; (d) the maximum advisable rates; (e) possible effects upon the distribution of wealth.
  4. What is the case for and against the partial or complete exemption of improvements from taxation under the general property tax? Where, if at all, have such a policy been adopted?
  5. What is “double taxation”? Under what circumstances, if any, is it objectionable? Why is the problem of double taxation a serious one today in the United States? What solution can be suggested?
  6. Suppose the Federal government abolishes all import duties upon sugar and substitutes equivalent bounties on sugar production in the United States. How, if at all, does this tend to affect the distribution of wealth? When, and for what reasons, has a change similar to that supposed been actually made in the United States?
  7. To what extent, and by what process, is a tax shifted to consumers when levied upon a commodity produced (a) at constant cost? (b) at decreasing cost? (c) at increasing cost? (d) by a monopoly? Illustrate by diagrams.

May 5, 1916.

 

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OTHER DIVISION SPECIAL EXAMINATIONS (Not transcribed here)

Modern History since 1789 including American History
American Government
Municipal Government
Political Theory

 

Source: Harvard University Archives. Divisional and general examinations, 1915-1975(HUC 7000.18). Box 6, Bound Volume (stamped “Private Library Arthur H. Cole”) “Divisional Examinations 1916-1927”.

Image Source:  1875 Gate at Harvard Yard. From the Wallace Nutting photographic Collection at the Historic New England website.

Categories
Chicago Columbia Sociology Teaching Undergraduate

Columbia. Encyclopedia article on teaching and university research in sociology. Tenney and Giddings, 1913

 

 

About a dozen posts ago I provided the text to a 1913 article on economics education written by E. R. A. Seligman and James Sullivan that was published in A Cyclopedia of Education, edited by Paul Monroe and published by Macmillan. Since the field of sociology was a fraternal twin of economics in many academic divisions at the time and not an uncommon field for graduate students of economics to choose as one of their fields of examination, this post provides now the text for the analogous article on sociology education published in the same 1913 “Cyclopedia”.

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SOCIOLOGY.

Alvan A. Tenney, Ph.D.
Assistant Professor of Sociology, Columbia University.

Franklin H. Giddings, Ph.D., LL.D.
Professor of Sociology and the History of Civilization, Columbia University.

Scope of the Subject. —

Sociology is the scientific study of society. Men, and many of the lower animals, live in groups. The scientific problem is to dis cover, by means of observation, induction, and verification, quantitative expressions for the regular ways in which group life operates, i.e. what, in quantitative terms, are the consequences of the fact that “man is a political animal.” Study of this problem necessitates inquiry into the origin, composition, interrelationships and activities of groups. It includes consideration of the environmental, biological, and psychological factors which, historically, have conditioned the character of such groups as the process of evolution has produced. It requires investigation also of such differences and resemblances among groups as are of significance in explaining the control which the group exercises over the individuals composing it. For quantitative expression the statistical method must be used. The ultimate aim of such study is to create a scientific basis for the conscious control of human society, to the end that evolution may be transformed into progress both for the race and for the individual. Unfortunately the scope of the subject has not been always thus conceived by teachers who label their courses Sociology. The latter half of the nineteenth century, the pioneer period in scientific sociology, witnessed a remarkable development of interest in the problems of philanthropy and penology. Inquiries into the causes of poverty and crime stimulated inquiry into the broader field of social causation in general, and the term sociology was used loosely to cover any portion of these fields. (See Social Sciences.) The term “applied sociology” for some time was equivalent to philanthropy and penology (q.v.). Recognition of the fact, however, that a theory of sociology can be “applied” in the guidance of public policy in every department of social life has initiated a movement, in America especially, to segregate the special problems of philanthropy and penology under the term social economy. This movement has not worked itself out fully, and there are still many courses given as sociology that should be called social economy. Sociology, in the scientific sense, of necessity uses the materials of history, and the demonstration or the concrete illustration of sociological principles has led naturally to systematic treatment of the historical evolution of society. It has been customary, therefore, to include, as a legitimate part of the scientific study of society, the history of social institutions. Beyond these limits there is a more or less indefinite zone of subjects such as social ethics, civics, social legislation, or even certain special questions in political economy and philosophy that have been included under the term sociology. The popular tendency, however, to make the term cover discussion of any social question whatsoever is gradually disappearing.

The present status of sociology as a science has been a direct result of the history of the subject itself. No one has yet done for sociology what Marshall did for economics. None of the textbooks is entirely satisfactory nor has entire agreement yet been reached as to the subjects which should receive most attention in a fundamental course. Nearly all the pioneers in sociology, with the exception of the very earliest, still retain leadership both in the science itself and in university chairs. Though all such leaders agree on fundamental points, each has naturally emphasized in his teaching that phase of the subject to which he has contributed most. At the present time, however, both the leaders and the large body of younger teachers who have been trained by them are beginning to place somewhat the same relative emphasis on the various factors that have been found useful in explaining the problems of the science. Nevertheless, even now the teacher is compelled to organize his own courses to a considerable extent on the basis of his own reading and such special training as he may be fortunate enough to have had. The particular form which that organization takes in any given instance is usually dependent to a considerable degree upon the university at which the teacher has studied and upon the sources with which he has become familiar. The conditions which have made this situation inevitable can be appreciated only by understanding the history of the subject itself and thus realizing both the richness of the field and the freedom in choice of material which is open to the teacher.

History of the Subject. —

The beginning of sociology, in the study of society itself, must have commenced far earlier than historical records permit proof of the fact; for the propensity of individuals to take thought as to how a group of men may be controlled can hardly be considered a recently acquired trait. Primitive man early developed systematic methods for teaching youth the means whereby both nature and man could apparently be controlled, and the teaching of that part of primitive magic which pertained to social control must have constituted one of the first courses in sociology. Problems of warfare, leadership, and group dominion must have also led both to practical knowledge of the nature of group activity and to the transmission of that knowledge from generation to generation.

Of necessity the statesman has ever been a sociologist. Likewise the philosopher has always busied himself with the relation of man to his fellow man. When Plato wrote the Republic and Aristotle the Politics the philosophical study of the subject was well advanced. A considerable part of the education of a Grecian youth was thus definitely in the field now called sociology. Later, when the evolution of world-empires led to the study of how great bodies of heterogeneous groups might be maintained in a single organized and harmoniously working system, men began to construct theories of group action, e.g. those of sovereignty and of the contractual nature of the state. Machiavelli, Bodin, Hobbes, Locke, and Rousseau each added elements to the growing body of social theory and helped to render the theory of group action more precise. Finally, in the nineteenth century, when the bounds of knowledge had become world-wide, when the development of the natural sciences had demonstrated the utility of exact scientific method and when the rise of modern nations, the growth of the industrial system, the ideals of democratic government, and the theory of evolution had begun to influence men, Comte and Spencer led the way in the construction of a comprehensive theory of society, utilizing scientific method to elucidate modern problems of social evolution and of social progress. August Comte (q.v.) first used the word sociology in the Cours de Philosophie positive, and it was he who first insisted upon the use of the positive method in the development of the subject. It was Herbert Spencer, however, who in Social Statics, in the various volumes of the Synthetic Philosophy, and in The Study of Sociology attempted by wide observation to demonstrate that universal laws operate in human society. The work of many other men ought, however, to be included in a fuller statement of the important contributors to the development of scientific sociology in the latter half of the nineteenth century. To the influence of Charles Darwin and his kinsman Francis Galton, for example, must chiefly be credited that intensification of interest in the part which biological influences play in society which has resulted in the so-called eugenic school. (See Eugenics.) In the comparative study of institutions the pioneer work of Sir H. S. Maine cannot be forgotten, nor in the philological method of tracing social relationships, that of the Grimm brothers. In anthropo-geography and ethnology, moreover, there were such men as Ratzel, Robertson-Smith, McLennan, Morgan, and many others. Without the work of these men and their followers sociology must have rested upon a far more speculative foundation than is now the case.

Concerning the chief writers who have followed these leaders and who have contributed more particularly to sociological theory in the narrower sense of the term, it must suffice merely to mention names and to indicate the portion of the field in which each has done his chief work. Of such writers Durkheim has particularly emphasized division of labor as the essential factor in the explanation of society; Tarde, imitation; Le Bon, the impression of the mass on the individual; Gumplowicz, the struggle of races; Ratzenhofer, the motivating power of interests; De Greef, social contact and social contract ; Simmel, the forms of society and the process of socialization; Ward, the importance of human intelligence and inventiveness ; Sumner, the unconscious processes in the evolution of institutions; Giddings, sympathy and likemindedness as subjective causes of the origin and maintenance of groups, the tendency to type formation, and the identification of type form with that of the group; Small, the interests to which men react and the methods of the subject; Ross, social control; and Cooley, social organization.

The competent teacher of sociology to-day utilizes the work of all of these men and that of many others who have elucidated less striking phases of the subject. If, perchance, he be capable of contributing to the science, he may be aiding in the recently inaugurated effort to place the entire subject on a quantitative basis.

The Teaching of Sociology.

The organized teaching of sociology as a university subject began long after the questions with which it deals had gained a firm hold upon the public mind. Little by little teachers of other political or social sciences which had already attained a recognized place in the educational system began to introduce sociological material into their courses and sometimes without sufficient justification to call the result sociology. Popular courses of lectures under the authority of recognized institutions of learning and dealing with almost every conceivable social question sprang up in nearly every civilized land and were called sociology. It was on this inclusive basis that in 1886 a report was made to the American Social Science Association that practically all of some hundred or more universities and colleges in the United States gave instruction in some branch of social science. A similar report could doubt less have been made for every country in Europe.

The first teaching of scientific sociology as a regular part of a college curriculum appears to have been in the United States when Professor Sumner in 1873 introduced Spencer’s Study of Sociology as a textbook at Yale. In 1880 the Trustees of Columbia College established the School of Political Science in that institution, and in it Professor Mayo-Smith received the chair of adjunct professor of political economy and social science. The first department of social science was created at Chicago University in 1894. In the same year the first chair of sociology definitely so called was created in Columbia, and was held then, as now, by Professor Giddings.

The entire decade in which these last mentioned events occurred, however, showed a marked increase of interest, by educators, in sociology. By 1895 the University of Chicago announced numerous courses in the subject and at least twenty-five other colleges and universities in the United States were teaching sociology proper. As many more had made provision for instruction in charities and correction. In Belgium the Université Nouvelle de Bruxelles, established in 1894, with the eminent sociologist Guillaume de Greef as its first Rector, was itself launched largely because of a revolt against the conservatism of other universities with respect to the social sciences. De Greef’s work is now largely supplemented by that of Professor Waxweiler and his staff of the Institut Solvay in the same city. Instruction is both in scientific sociology and social economy. In Switzerland as late as 1900 the only instruction in the subject consisted of a course by Professor Wuarin, the economist, given at Geneva, and one by Dr. Ludwig Stein, Professor of Philosophy at Bern. Italy has produced a number of sociologists of eminence, e.g.Lombroso, Ferri, Sighele, Ferrero, and Sergi, but even in 1900 not one of them was teaching in a university. In that year also there did not exist a single chair of sociology, so called, in Germany. Throughout the preceding six academic years, however, or during one or more of them, courses in sociology were given by Simmel (Berlin), Sombart (Breslau), Bernheim (Greifswald), Sherrer (Heidelberg), Tönnies (Kiel), and Barth (Leipzig). Schäffle of Stuttgart had also become known as the chief representative of the “organic” school. France, the land of the early physiocrats in economics and the home of Comte, was almost the last to organize instruction in the social sciences. During the first three quarters of the nineteenth century no other social sciences were taught in France than the strictly juridical and moral. At the beginning of the last quarter, however, a place for political economy was made in the examination for the bachelor’s degree in law. Even in 1900, according to Professor Gide, sociology was not taught anywhere in France in the form of a regular course, but three professors of philosophy and one of law were delivering free lectures on the subject, Durkheim at Bordeaux, Bouglé at Montpellier, Bertrand at Lyon, and Haurion at Toulouse. Letourneau, however, had by this time achieved a reputation in Paris. The privately supported Collège Libre des Sciences Sociales, had been found in 1892, but the courses included in its somewhat glittering program consisted of but ten lectures each, and were not well attended. Nevertheless, the most celebrated of French sociologists, Gabriel Tarde, first delivered at that institution in 1897 the lectures that subsequently appeared as his Lois Sociales. The school was later organized as the École des Hautes Études Sociales. At the Collège de France, also, certain courses in sociology were given after 1895, honoris causa.

In Austria Gumplowicz and Ratzenhofer have been the most noted names. The former taught at Graz. Russia contributed Lilienfeld and Novicow, but did not establish chairs for them. In Great Britain there was no chair or lectureship in the subject in any university prior to 1904 in spite of the fact that the Sociological Society was already in existence. The first important systematic series of lectures on sociology in the University of London was given in that year. Prior to that, however, Professor Geddes had been lecturing in Glasgow, and at the London School of Economics the sociological movement had received encouragement.

Such were the beginnings of systematic instruction in sociology. It is not practicable here to follow in detail the later development of the movement in all countries. The United States has introduced the subject in institutions of learning more rapidly than has been the case elsewhere. Nevertheless there has been advance in all countries. The present status of the subject in educational institutions in the United States is well reflected by the report of December, 1910, upon the questionnaire issued by the committee on the teaching of sociology of the American Sociological Society. The questionnaire was sent to 396 institutions, of which over 366 were known to give courses in sociology. One hundred and forty-five replies were received. One hundred and twenty-eight institutions reported one or more courses in sociology. In addition to universities and colleges, five theological and twelve normal schools answered the questionnaire. In an effort to gauge the character of subject matter chiefly emphasized in the 128 institutions the number of times various types of subject matter were specifically mentioned in the replies was tabulated and resulted in the following classification and marks: historical subject matter, 84 ; psychological, 80; practical, 56; economic, 22; descriptive and analytic, 21; biological, 16; In addition, definite reference to “sociological theory” occurred 40 times and to “social pathology” 13 times. Under the first subject was included specific mention of anthropology, ethnology, institutions, and social evolution; under the second, social psychology, association, and imitation; under the third, congestion, housing, philanthropy, criminology, and “social problems”; under the fourth, industrial and labor conditions and socialism; under the fifth, physical influences and the study of a specific social group; under the sixth, eugenics and statistical treatment of population. These figures and classes do not imply exclusive or preponderating attention to any one of the classes of subjects mentioned, but merely indicate roughly the type of sociological subject matter which is primarily emphasized in the educational institutions of the country at large. Eighty-six specific suggestions for subject matter to form a fundamental course distributed emphasis as follows historical, 28; psychological, 25; practical, 16; biological, 7; descriptive and analytic, 7; economic, 3. The same report includes a statement of texts and authorities cited in five or more replies to the questionnaire.

From the foregoing it is possible to understand clearly why sociology has not as yet made its way into the high school. The subject is already beginning to find a place in the curricula of normal schools, however, and sooner or later it will make its way in a simple form either to supplement or eventually to precede elementary courses in economics, civics, and history. Logically, a discussion of the fundamental bases of social organization should precede any of the questions that assume the existence of a particular sort of social organization, and there is, in reality, no reason at all why the essential factors that cooperate to produce the activities of social groups cannot be explained in such a way that a child may appreciate the simpler modes of their operation and thus be helped to understand later the complex relations of the social life of modern civilization.

Methods of Teaching Sociology. —

The subject matter of sociology, as is evident from the preceding review, lends itself most conveniently to the lecture method of presentation — at least when it is taught as a university subject. This is preeminently true if the historical evolution of society is to be treated in an adequate fashion. No student can be required to do the reading necessary for independent judgment upon the disputed points which often baffle the expert, nor would it be possible to discuss all phases of the subject in the brief time which the ordinary student can devote to sociology. The teacher may usually consider his work in this field fairly satisfactory if he succeeds in making clear the fact that the causes of social evolution can be subjected to scientific analysis as truly, if not as exactly, as any other phenomena whatsoever, if he is able to explain how the combination of various factors — physical environment, race, dynamic personality, economic, religious, and other cultural institutions — created the various types of society that have existed from the earliest forms of tribal organization to the modern world society, if he indicates the sources of information and their trustworthiness, and if in the presentation of these subjects he develops in the student a realization of the historical perspective from which it is necessary to view mankind’s development whenever rational criticism of public policy is required.

In the more closely analytical study of sociological theory more use can be made of existing texts. Even with these, however, the teacher must be ready to illustrate, explain, supplement, and criticize on the basis of reading inaccessible to the student or too extensive for him to master. Discussion of special problems in theory that arise from assigned readings in original sources is indispensable, however, if independent thinking is to be gained. For this purpose source books are a valuable aid. Many teachers have found it possible to stimulate intense interest and thought by setting each student the task of independently observing and interpreting for himself by the Le Play monographic method the phenomena of sociological significance in a concrete social group or community with which he himself is or may become familiar (e.g. his home town, college, or club). By collecting, through observation of such a group, data concerning situation, healthfulness, resources, economic opportunities, racial types, religious, educational, political, and other cultural traits, sex and age classes, nationality, ambitions and desire for wealth, justice and liberty, degree of self-reliance or dependence, amount of cooperation, constraint, discipline, tolerance, emotional and rational reactions, relations with other groups and other such matters, the student gains a lively appreciation of the factors which make or mar the efficiency of the group of which he is himself a member. By comparison of the results of such study in the seminar, characteristic and important differences may be made vivid and vitality given to discussion of the regular antecedents of social activities.

More general studies in demography, based on the census or other official records, and pursued in such a way as to throw light on current problems such as immigration, race questions, growth of cities, significant movements of population, mortality, birth, marriage and divorce rates, or sanitary conditions, often serve to give a concreteness to theory that could not otherwise be gained. Such work, moreover, often forms an excellent preparation for the more difficult task of analyzing the mental phases of collective activity, such as mob action and the formation of rational public opinion, or of determining the conditions under which social choice is free or controlled, conservative or radical, impulsive or deliberate, governed by tradition or based on scrutiny of evidence.

In addition to methods of this sort some teachers have even inspired their students with enthusiasm for making sociology a quantitative science by first grounding them well in statistical methods and then setting them simple though definite and concrete sociological problems that involve the use of that method. For example, it is quite within the power of any college class acquainted with such a simple text as Elderton’s Primer of Statistics to count the number of hours per week spent by each person in a group upon such recreational activities as are carried on, plot out the result, find the prevailing tendency, apply the usual statistical measures, median, mode, quartiles, etc., and gradually acquire facility in attacking more extensive data. (See Graphic Curve.) For instruction of this character the regular meeting of seminars or practicums for report by students upon their particular tasks becomes the most convenient pedagogical device to promote independent criticism and discussion. The seminar method is also useful for the discussion of special reports upon readings in the works of the more prominent sociological writers. In order that the observational method may be successfully applied it is evident that the canons of inductive method must be thoroughly understood by the student. It is also apparent that in the review of extant theory there must be appreciation of the criteria for judging the value of evidence. Above all, encouragement must be given to every inclination on the part of the student to investigate particular problems for himself. He must be made to realize, moreover, that sociologists must be as willing to undertake protracted and laborious tasks in the assembling of data as are the biologists, the psychologists, or the chemists.

The foregoing methods are applicable chiefly to the university student. In college or in high school the methods employed are naturally more useful if they arouse the student’s interest in problems that pertain to civic welfare, and if they aid him in understanding the forces that make or mar the efficiency of the particular social groups in which he is himself to play a part. For such purposes the method of studying current social problems becomes extremely useful, provided the teacher is skillful in the selection of the topics for discussion and can utilize sociological principles of interpretation. By using the ordinary facts present in every town or village, it is possible much earlier than is usually supposed to have the pupil observe significant sociological facts and become familiar with the scientific mode of interpreting them.

In addition to these simple statements of method it is, perhaps, unnecessary to remark that in the teaching of the science itself the most inspiring instructor is he who is himself able to employ successfully the usual deductive, inductive, comparative, historical, and statistical methods in the discovery of new truth.

References: —

Bagehot, W. Physics and Politics. (New York, 1887.)

Bernard, L. L. The Teaching of Sociology in the United States. Amer. Jour. of Sociology, Vol. XV, p. 164. (1909-1910.)

Carver, T. N. Sociology and Social Progress. (Boston, 1905.)

Chapin, F. S. Report of the Questionnaire of the Committee on Teaching of the American Sociological Society. Publications of the Amer. Sociological Society, Vol. V. (1900.)

Clow, F. R. Sociology in Normal Schools. Amer. Jour. of Sociology, Vol. XVI, p. 253. (1910- 1911.)

Cooley, C. H. Social Organization. (New York, 1909.)

Dealey, J. Q. The Teaching of Sociology. Publications of the Amer. Sociological Society, Vol. IV, p. 177. (1909.)

Ellwood, C. A. How Should Sociology be Taught as a College or University Subject? Amer. Jour. of Sociology, Vol. XII. p. 588. (1906-1907.)

Giddings, F. H. Modern Sociology. The International Monthly, Vol. II, No. 5. (Nov., 1900.)

___________. Democracy and Empire. (New York, 1901.)

___________. Principles of Sociology. (New York, 1896.)

___________. Sociology. Columbia Univ. Series on Science, Philosophy, and Art. (New York, 1908.)

___________. Sociology as a University Subject. Political Science Quarterly, Vol. VI, p. 635. (1891.)

___________. The Province of Sociology. Annals of the American Academy of Political and Social Science, Vol. I, p. 76. (1890.)

Hobhouse, L. T. Social Evolution and Political Theory. (New York, 1911.)

Howerth, I. W. The Present Condition of Sociology in the United States. Annals of the American Academy of Political and Social Science, Vol. V, Pt. I, p. 260. (1894.)

Ross, E. A. Foundations of Sociology. (New York, 1905.)

___________. Social Control. (New York, 1908.)

Semple, E. C. Influences of Geographic Environment. (New York, 1911.)

Small, A. W. General Sociology. (Chicago, 1905.)

Spencer, H. First Principles, Pt. II. (London, 1887.)

___________. Principles of Sociology. (London, 1885.)

___________. The Study of Sociology. (New York, 1884.)

Sumner, W. G. Folkways. (Boston, 1907.)

Tarde, G. Laws of Imitation. (New York, 1903.)

Tenney, A. A. Some Recent Advances in Sociology. Political Science Quarterly, Vol. XXV, No. 3. (Sept., 1910.)

Thomas, W. I. Source Book for Social Origins. (Chicago, 1909.)

Ward L. F. Contemporary Sociology. Amer. Jour. of Sociology, Vol. VII, p. 476. (1900-1901.)

___________. Pure Sociology. (New York, 1907.)

___________. Applied Sociology. (Boston, 1906.)

___________. Sociology at the Paris Exposition of 1900. Rep. U. S. Com. Ed., 1899-1900, Vol. II, pp. 1451-1593.

For a list of textbooks, together with statistics of their use in institutions of learning, see Reportof the Committee on Teaching of the American Sociological Society in Publications of the American Sociological Society, Vol. V., p. 123. (1910.)

 

Source: A Cyclopedia of Education, Paul Monroe (ed.), Vol. 5. (New York: Macmillan, 1913), pp. 356-361.

Image Source: Franklin H. Giddings in University and their Sons. History, Influence and Characteristics of American Universities with Biographical Sketches and Portraits of Alumni and Recipients of Honorary Degrees. Editor-in-chief, General Joshua L. Chamberlain, LL.D. Vol. II, pp. 453-5.

Categories
Chicago Fields Suggested Reading Undergraduate

Chicago. Recommended public finance textbooks. Viner’s list, 1924

 

The original memo sent to Jacob Viner asking for the names of a few textbooks suitable for college class in the field of public finance is a carbon copy of a common memo, except for the name “Mr. Jacob Viner” and field “Public Finance” that are both clearly typed onto the carbon copy. It appears that the chairman L. C. Marshall might have been surveying his Chicago colleagues to assemble a list of college textbooks by field. There might be other such inquiries with responses, but judging from where I found this memo to Viner, one would have to plow through the Chicago economic department records where the memos are filed by recipients. I’ll keep my eyes open.

The first textbook listed by Viner was written by the 1926 Chicago Ph.D., Jens Peter Jensen, whose dissertation was on the general property tax.

Obituary:  In Memoriam: Jens P. Jensen, 1883-1942 by John Ise in The American Journal of Economics and Sociology, Vol. 2, No. 3 (Apr., 1943), pp. 391-392.

____________________

From the Preface of Jens P. Jensen’s (Department of Economics, University of Kansas) Problems of Public Finance, p. ix.

“Professors Roy G. Blakey of the University of Minnesota and H. A. Millis of the University of Chicago were my teachers in public finance, and through them my interest in the field was aroused and quickened. Dr. J. Viner of the University of Chicago has carefully read the manuscript and suggested many redeeming changes.”

____________________

The University of Chicago
The School of Commerce and Administration

Memorandum to Mr. Jacob Viner from L.C. Marshall
October 2, 1924

Will you please jot down on this sheet the names of two or three texts suitable for college class use in the field of Public Finance?

LCM:OU

*  *  *  *  *  *

Viner’s reply

Jens [Peter] Jensen. Problems of Public Finance.  Crowell [1924]

C. J. Bullock. Selected Readings in P. F. Ginn & Co. [2nded., 1920]

W. M. Daniels, Elements of Public Finance [including the Monetary System of the United States]. Holt & Co. [1899]

H. L. Lutz has a good text in press [D. Appleton and Company, 1924;  fourth edition, 1947]

J.V.

Source: University of Chicago Archives. Department of Economics. Records. Box 35, Folder 14.

Image Source: Jacob Viner (facing camera) playing bridge with Mr. Grabo, Mr. Prescott, and Ralph Sanger, instructor of Mathematics. University of Chicago Photographic Archive, apf1-08487, Special Collections Research Center, University of Chicago Library.

Categories
Exam Questions Harvard Undergraduate

Harvard. Examination questions for Political Economy I, 1884-1888.

 

 

 

With this post we add about fifty new questions to our growing stock of Harvard economics examinations. Nine of the sixty-three questions transcribed below are identical or nearly identical to those found in the 310 questions appended to Laughlin’s abridged version of John Stuart Mill’s Principles that served as the course textbook at Harvard at the end of the 19th century.

See:  Principles of political economy, by John Stuart Mill. Abridged with critical, bibliographical, and explanatory notes, and a sketch of the history of political economy by, J. Laurence Laughlin. New York: D. Appleton, 1884.

The new questions come from what we would today call a “Student’s Guide” to the Mill/Laughlin textbook. He called the printed 72-pages a “Synopsis”.

________________________

About Laughlin’s “Student’s Guide to John Stuart Mill”

This Synopsis is intended to replace the text book in preparing for the examinations, but it will also be found extremely useful during the year in answering the weekly written questions. The index at the end has been prepared especially for use in connection with the examination papers contained in the appendix to this book, and in the second appendix to the text book.

A Synopsis of the First Three Books of John Stuart Mill’s Principles of Political Economy, as revised by Prof. J. L. Laughlin with an appendix containing the recent examination papers in Political Economy I. Cambridge, Mass.: W. H. Wheeler, 1888.

________________________

PAPERS SET FOR EXAMINATION IN POLITICAL ECONOMY I.
[# in Laughlin’s list of 310 questions (1884)]

1883-1884.

  1. Explain carefully the following terms: production, consumption, effectual demand, margin of cultivation, cost of production, value of money, cost of labor, wealth, and abstinence. [#2, virtually identical]
  2. What conclusion as to the limit to the increase of production does Mr. Mill deduce from his investigation of the laws of the various requisites of production? [#54]
  3. Explain clearly how it is possible for the land of a country which is all of a uniform fertility to pay rent. [#105]
  4. Point out distinctly the connection between the money wages of laborers in the United States and the productiveness of the soil. [#244]
  5. Explain the operation of the laws of value by which the relative prices of wool and mutton would be regulated. [#194]
  6. Why is it necessary to make any different statement of the laws of value for foreign than for domestic products? What is the cause for the existence of any international trade? [#199]
  7. (1) What is the true theory of one country underselling another in a foreign market? (2) What weight should be attributed to the fact of generally higher or lower wages in one of the competing countries? [#241]
  8. If capital continued to increase and population did not, explain the proposition that “the whole savings of each year would be exactly so much subtracted from the profits of the next and of every following year.” [#254, virtually identical]
  9. Give the arguments for and against the income tax. Would the tax on any kinds of income not fall upon the persons from whom it was levied? Explain.
  10. Define the term banking-reserve. What is the theory on which only a small part of the total resources is constantly kept as a reserve? What relation exists between the items of deposits, loans, and reserve?
  11. Explain the provisions of the Resumption Act, and show how the actual results were produced.
  12. Was the issue of greenbacks in February, 1862, an actual necessity?

 

1885-1886.

  1. Explain what is meant by the “standard of living” of the laboring class. In a densely populated country would the standard of living have any influence on the general rate of wages?
  2. Show clearly why there must be land in cultivation which pays no rent.
  3. Explain carefully the relation between Cost of Labor and Real Wages. How can an increase of population affect Cost of Labor?
  4. Under what conditions can it be said that normal value depends on the “expenses of production”? State the law of market and normal value for commodities affected by the law of diminishing returns.
  5. Explain the reason for the existence of foreign trade. Is there any different reason for the exchange of goods in domestic trade?
  6. What is inconvertible paper money? From the history of the United States notes state the main events showing the attitude of Congress towards their issue, while the notes were inconvertible.
  7. Why is a bank obliged to limit its loans when its cash reserve is seriously impaired?
  8. Why is it that the products of extractive industries are liable to great variations of market value?
  9. Upon whom would a tax on Rent fall? Would such a tax be a discriminating tax on the agricultural interests?
  10. What are the advantages of direct taxation? State by what kinds of taxation, direct or indirect, the United States gets its revenue.
  11. Is it correct to say that high wages alone prevent us from selling manufactured goods in foreign markets!

 

1886-1887.

  1. Compare the economic effects of defraying war expenditures by loans and by taxation. [#33, virtually identical]
  2. Does the rent of a factory building affect the value of the goods made in it? Does the rent of a farm affect the value of the grain grown on it? Does the rent paid for a lot near a great city, from which gravel is taken, affect the value of the gravel?
  3. It has been said that “the laws and conditions of the production of wealth partake of the character of physical truths. There is nothing optional or arbitrary in them.” State briefly the laws of the production of wealth here referred to, and whether the statement in regard to them is true.
  4. It has been said that the law of population and the law of diminishing returns from land point inevitably to misery and want as the destiny of the mass of mankind. What influence affecting the operation of these laws are to be taken into account; and if they are taken into account, are the laws of population and diminishing returns from land thereby shown to be invalid?
  5. Explain briefly the nature of the remuneration received by the following persons: a farmer tilling his own land; a merchant carrying on business with his own capital; a manufacturer carrying on business with borrowed capital; a holder of railway stocks; a holder of government bonds; a patentee.
  6. Wherein is the value of metallic money governed by different principles from those that regulate the value of commodities in general? And wherein is the value of inconvertible paper money governed by different principles from those that regulate the value of coin?
  7. Credit is said to be purchasing power. Explain what is meant by this proposition, and in what manner it bears on the theory of the value of money. Point out in what form credit, as purchasing power, is most likely to affect prices in the United States and in France.
  8. (a) Suppose that:
    In the U. S. one day’s labor produces 2 bushels of corn;
    In the U. S. one day’s labor produces 10 yards of cotton cloth;
    In England one day’s labor produces 1 bushel of corn;
    In England one day’s labor produces 5 yards of cotton cloth.
    Would trade arise between England and the United States? If so, how?
    (b) Suppose that in England one day’s labor produced 8 yards of cotton cloth, other conditions remaining the same as in (a). Would trade arise? If so, how?
    (c) Suppose that in England one day’s labor produced 2 yards of cotton cloth, other conditions remaining the same as in (a). Would trade arise? If so, how?
  9. Suppose a new article to appear among the exports of a given country. Trace the effects in that country on the course of the foreign exchanges; on the flow of specie; on the value of money; on the terms of international exchange. Would the results be the same if, instead of a new article of export, some article previously exported were to be sold abroad in larger quantity because of a lowering of its cost and price?
  10. (a) Arrange in proper order the following items of a bank account: Loans, $538,000; Bonds and Stocks, $40,000; Capital, $200,000; Real Estate, $26,000; other assets, $26,000; Surplus, $65,100; Deposits $440,000; Notes, $101,550; Cash, 124,000; Cash Items, $52,650.
    (b) Suppose the bank to discount four months paper (at 6 per cent) to the amount of $10,000 of which it purchases one-half by promises to pay the bearer on demand, and one-half by cash. How would the account then stand?
    (c) Suppose a borrower to have repaid a loan of $2000 by giving $1000 in cash, and $1000 in a cheque on the bank. How would the account then stand?
    (d) Suppose the bank to be confronted, in a time of general embarassment, with demands from depositors for cash, and from borrowers for discounts. What policy would be adopted if it were the Bank of England? if it were a United States national bank?

 

1886-1887.

DIVISION A.

  1. If taxes levied on the rich cause a diminution in their unproductive expenditure, would that in any way affect the employment offered for labor? Discuss fully.
  2. What principle does Mr. Mill furnish by which the respective shares of labor and capital are determined? Has his Wages-Fund Theory any connection with his exposition of the dependence of “profits” on Cost of Labor?
  3. In discussing the distribution of the product, why is it that the relative shares of labor and capital can be discussed independently of rent? Would an increase of rent affect the share of labor or of capital?
  4. Why is it that city banks make a greater use of the deposit liability than of the note liability? Why is the fact just the reverse with country banks?
  5. State fully the difference between Cost of Labor and Cost of Production. Would a decrease in Cost of Production affect Cost of Labor in any way?
  6. If the returns, and consequently wages, in our extractive industries were to decline, how would the course of our foreign trade probably be affected?
  7. Explain carefully how, and under what conditions, Reciprocal Demand regulates Normal Value.
  8. How do you reconcile the doctrine of comparative cost in international trade with the fact that a merchant regulates his conduct by a comparison of prices at home with prices abroad?
  9. Explain how a tax on “profits” may fall either (1) on the laborer, or (2) on the landlord.
  10. Discuss the argument that protection raises wages.
  11. Is the customs-duties on sugar economically justified?

 

DIVISION B.

  1. Suppose the price of silver to rise to such a point that the ratio of silver to gold would be 15 to 1, what change would take place in the money at present in use in the United States? Is such a change probable? if so, why? if not, why not?
  2. State the essential differences between the coinage acts of 1792, 1834, and 1878.
  3. “All experience has shown that there are periods when, under any system of paper money, however carefully guarded, it is impracticable to maintain actual coin redemption. Usually contracts will be based on current paper money, and it is just that, during a sudden panic or an unreasonable demand for coin, the creditor should not be allowed to demand payment in other than the currency in which the debt was contracted. To meet this contingency, it would seem to be right to maintain the legal tender quality of United States notes. If they are not at par with coin, it is the fault of the Government and not of the debtor, or rather it is the result of an unforeseen stringency not contemplated by the contracting parties.” From the Report of the Treasury, dated December, 1887.
    Under what circumstances was this passage written? Is the recommendation made by it a wise one? Has it been acted on?
  4. Ten men club together to buy flour at wholesale, each taking a part and paying his share of the price. Ten others club together, borrow money jointly, and lend it out to themselves for aid in carrying on their trades. A third ten club together, set up a work shop on joint account and work in it, and periodically divide the net proceeds. What kinds of cooperation are typified, respectively, by these proceedings? In what countries has each kind been most widely applied? Which seems to you to be of greatest intrinsic interest for the social question?
  5. What is meant by the eight-hour law? Wherein does it resemble, and wherein differ from, factory legislation in England?
  6. Compare the regulations of the Knights of Labor in regard to strikes with those of an English Trades-Union.
  7. “The present doctrine is that the workman’s interests are linked to those of other workmen, and the employer’s interests to those of other employers. Eventually it will be seen that industrial divisions should be perpendicular, not horizontal.” Explain what is meant by this passage; state by what devices it is endeavored to promote the ” horizontal ” and the “perpendicular” divisions, respectively; and give an opinion as to which line of division is likely to endure.
  8. The declaration of principles of Knights of Labor demands “the enactment of laws providing for arbitration between employers and employed, and to enforce the decision of the arbitrators.” Is it desirable to comply with that demand in whole, in part, or not at all?
  9. Suppose a tax were levied of ten per cent on the house-rent paid by every person, those who occupied their own houses being assessed for the letting value of their dwellings. Would such a tax be direct or indirect? Would it conform to the principle of equality of taxation? Give your reasons.

 

1887-1888.
Mid-year. 1888.

  1. Is productive consumption necessarily consumption of capital? Can there be unproductive consumption of capital?
  2. Distinguish which of the following commodities are capital, and, as to those that are capital, distinguish which you would call fixed capital and which circulating.
    A ton of pig iron; a plough; a package of tobacco; a loaf of bread; a dwelling-house.
    Can you reconcile the statement that one or other of these commodities is or is not capital with the proposition that the intention of the owner determines whether an article shall or shall not be capital?
  3. Suppose an inconvertible paper money to be issued, of half the amount of specie previously in circulation. Trace the effects (1) in a country carrying on trade with other countries, (2) in a country shut off from trade with other countries.
  4. Explain in what manner the proposition that the value of commodities is governed by their cost of production applies to wheat, to iron nails, and to gold bullion.
  5. Explain the proposition that rent does not enter into the cost of production. Does it hold good of the rent paid for a factory building? Of the rent paid for agricultural land?
  6. It has been said that wages depend (a) on the price of food, (b) on the standard of living of the laborers, (c) on the ratio between capital and population. Are these propositions consistent with each other? Are they sound?
  7. Suppose that
    One day’s labor in the United States produces 10 pounds of copper,
    One day’s labor England produces 8 pounds of copper,
    One day’s labor in the United States produces 5 pounds of tin,
    One day’s labor England produces 5 pounds of tin,
    Would trade arise between England and the United States, and if so, how?
    Suppose that, other things remaining as above, one day’s labor in England produced 12 pounds of copper, would trade arise, and if so, how?
  8. Explain what is meant when it is said that “there are two senses in which a country obtains commodities more cheaply by foreign trade: in the sense of value, and in the sense of cost.”
  9. Arrange in proper order the following items of a bank account: Capital, $300,00; Bonds and Stocks, $35,000; Real estate and fixtures, $20,000; Other assets, $20,000; Surplus, $80,000; Undivided Profits, $10,500; Notes, $90,000; Cash, $110,000; Cash items, $90,000; Deposits, $850,000; Loans, $1,050,000; Expenses, $5,500. ,
    Suppose loans are repaid to this bank to the amount of $100,000. One half by cancelling deposits, one quarter in its own notes, and one quarter in cash; how will the account then stand?
  10. What is the effect of the use of credit on the value of money? Wherein does credit in the form of bank deposits exercise an effect on the value of money different from that of credit in the form of bank notes?

 

Source: A Synopsis of the First Three Books of John Stuart Mill’s Principles of Political Economy, as revised by Prof. J. L. Laughlin with an appendix containing the recent examination papers in Political Economy I. Cambridge, Mass.: W. H. Wheeler, 1888.

Image Source: James Laurence Laughlin. University of Chicago Photographic Archive, apf1-03687, Special Collections Research Center, University of Chicago Library.