Charles Whitney Mixter (b. Sept. 23, 1869 in Chelsea, MA; d. Oct. 21, 1936 in Washington, D.C.) taught a year-long course at Harvard on Adams Smith, Ricardo, and their dissenting followers in 1902-03.
Mixter received his Ph.D. from Harvard in 1897 with the thesis “Overproduction and overaccumulation: a study in the history of economic theory.” Further biographical information about Charles Whitney Mixter (1869-1936) is found in the post about his course offered 1901-1902. Also Economics in the Rear-view Mirror has a post with a student’s description of Mixter as economics instructor at the University of Vermont.
One of the dissenting followers of Adam Smith considered in Mixter’s course below was John Rae. Mixter edited a reprint of the 1834 book by John Rae, which he retitled The Sociological Theory of Capital. A few years before, Mixter had written two Quarterly Journal of Economics articles comparing Rae with Böhm-Bawerk:
“A forerunner of Böhm-Bawerk”, Quarterly Journal of Economics, January, 1897. [“the first article by me upon Rae…had a title which was also in great measure a misnomer. Rae is not a mere ‘anticipator of the discoverer’ (to use one of Cannan’s phrases), but the discoverer himself. By reason of the lack of a theory of invention, Böhm-Bawerk’s doctrine of capital, although coming much later, is in essentials the less complete of the two.”]
“Böhm-Bawerk on Rae,” Quarterly Journal of Economics, May, 1902. [Review of Chapter XI of the second edition of the Geschichte und Critik der Capitalzins-Theorien].
In the preface to his reprint of Rae’s book, Mixter provides us with some backstory to his research revealing the support of Frank Taussig and Irving Fisher at the beginning and the end of this book project:
When I first became interested in Rae’s theory of capital, under Professor Taussig’s direction in the economic seminary at Harvard University, there existed no printed information (except in his Preface) in respect to Rae himself; and for a long time nothing could be learned through inquiry in quarters which promised well in Canada and Great Britain. The late Professor Dunbar of Harvard, who always displayed a keen interest in the undertaking, urged me to persist, and at length a letter printed in the Montreal Star drew forth two replies, one from the Canadian antiquary Mr. H. J. Morgan, the other from the late Robert S. Knight of Lancaster, Ontario, a grand-nephew of Rae. This set me upon the right road to get into communication with several people who knew Rae personally. Of these the one who could tell me most was the late Sir Roderick W. Cameron of New York, a former pupil and life-long friend, at whose summer residence on Staten Island Rae died. Better still, I was able through the interest and kindness of this gentleman to come into possession of what few papers Rae left at his death. That is, I obtained all Rae’s effects of a literary nature which seem now to be in existence. Apparently, from statements made by Sir Roderick, there was another set of papers which Rae had with him at the time, but which were destroyed or in some way lost. The papers I obtained were little more than odds and ends, mostly unfinished fragments on a great variety of subjects, unfortunately but little on economics. Their chief use has been to help me to a fair understanding of Rae’s life, which I have been able, however, only very imperfectly to set forth.
I have received much information and kind assistance in this part of my work from not a few people in Canada, the United States, Honolulu, and Great Britain. I trust they will accept this general acknowledgment of my sense of indebtedness to them.
To Mr. L. W. Zartman of Yale University my especial thanks are due for assistance in preparing the copy for the printer, and in reading the proofs. I am also much indebted to Mr. Wilmot H. Thompson of the Graduate School of Yale, for revision of the classical quotations.
Finally, I wish here to express my obligations to Professor Irving Fisher of Yale University. His interest and encouragement have been of unfailing support. The proof sheets of the whole book have passed his able scrutiny, and his direct help in many other ways has been invaluable.
C. W. M.
Burlington,
Vermont, July, 1905.
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Course Description
- a. Selected Topics in the History of Economic Thought since Adam Smith. , Wed., and (at the pleasure of the instructor) Fri, at 12. Dr. Mixter.
The chief subject to which attention will be directed in this course is the school of dissenting followers of Adam Smith — Lauderdale, Rae, and those influenced by them — who carried forward Smith’s work to very different results from those attained by the Ricardians. This study of a little known tradition gives a fresh point of view as to the general method of formulating and presenting economics. Some of the other subjects to be discussed are, — the classic doctrine of over-production, and the opposition to that doctrine; the economics of absenteeism; the history of the theory of colonization; early American economic theory.
The exercises will be conducted largely by means of discussion. Oral reports on assigned topics will be required.
- d 2hf. Adam Smith and Ricardo. Half-course (second half-year). Wed., Fri., at 2.30. Professor Taussig.
In this course, a careful study will be made of large parts of the writings of Adam Smith and Ricardo, and comparison made with contemporary authors as well as with the later writers who accepted the teachings of the earlier English school.
Source: Harvard University. Faculty of Arts and Sciences, Division of History and Political Science [Comprising the Departments of History and Government and Economics], 1902-03. Published in The University Publications, New Series, no. 55. June 14, 1902.
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Course Enrollment
Economics 20a. Dr. Mixter. — The History of English Economic Theory from Adam Smith to John Stuart Mill.
Total 5: 3 Gr., 2 Se.
Source: Harvard University. Annual Report of the President of Harvard College, 1902-03, p. 68.
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Mid-Year Examination 1902-03
ECONOMICS 20a
It is expected that questions 3 and 7 will be answered more at length than the other questions.
- Who was Bentham and what does he stand for in the history of economics?
- What is the nature of Rae’s reply to Smith’s 5th argument against protection?
- What would Adam Smith say to the assertion that trades unions are necessary in the United States to prevent a fall of general wages? In what various aspects did Smith examine the subject of wages?
- What are Adam Smith’s four canons or “maxims” of taxation?
- Is “capital” or “labor” the leading concept in the economics proper of the Wealth of Nations?
- What idea of most value have you obtained from Cannan?
- Discuss the Malthusian theory with respect to errors and shortcomings:—
- In its original form of statement and proof.
- In its original application.
- Sum up the modernized Malthusian doctrine in the form which seems to you most sound and useful.
- How has “the Commerce of the Towns contributed to the Improvement of the Country”?
Source: Harvard University Archives. Mid-year Examinations 1852-1943. Box 6. Papers (in the bound volume Examination Papers Mid-years 1902-1903).
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Year-End Examination 1902-03
ECONOMICS 20a
Omit two of the last five questions.
- Criticise the following statement: “What he [Ricardo] really ‘endeavored to show’ was that the rate of profit depends on the productiveness of the last employed, or no-rent-paying agricultural industry, and it is not of much importance to his theory whether this dependence is brought about through rises and falls of money wages, or also by the direct influence of variations in the productiveness of industry.”
- What is Lauderdale’s significance in the history of economics?
- What are the points of similarity and of difference between Rae and Böhm-Bawerk?
- What portions of a complete treatise on economics are lacking in Rae’s work? Give some examples of peculiar terminology.
- Give an account of one of the following writers: Chalmers, Wakefield, Longfield, Senior.
- “His [the capitalist’s] profit consists of the excess of the produce above the advances; his rate of profit is the ratio which that excess bears to the amount advanced.” Comment on this.
- Criticise the phrase “the profits of stock are only another name for the wages of accumulated labour.” Who first advanced this idea?
- What was John Stuart Mill’s treatment of the subject of general overproduction?
- When it is said that a certain writer “took as his type of capital, machinery instead of wage-fund,” what do you understand by the expression? Mention several writers who have done this.
- Give a brief account of Cannan’s description of the discovery of the law of diminishing returns.
Source: Harvard University Archives. Examination Papers 1873-1915. Box 6. Papers Set for Final Examinations in History, Government, Economics, History of Religions, Philosophy, Education, Fine Arts, Architecture, Landscape Architecture, Music in Harvard College, June 1903 (in the bound volume Examination Papers 1902-1903).
Image Source: Harvard scores (1905), John Jepson (artists), Boston. Library of Congress Prints and Photographs Division Washington, D.C.