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Economists Harvard

Harvard. Annual report on the department of economics. Dunlop, 1961-1962

An overview of the annual comings and goings of a department are typically chronicled in a report prepared by the department chair. Such low circulation documents are sometimes targeted to a specific readership, e.g. a visiting committee, a dean, the alumni, but the report transcribed in this post for the Harvard economics department in 1961-62 does not appear to have had a particular audience in mind.

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About  Chairman John T. Dunlop
(Harvard Album, 1960)

Sallying forth from an office in the farther reaches of Littauer to Washington, D.C., JOHN THOMAS DUNLOP, Professor of Economics and faculty member in the Graduate School of Public Administration, is certainly one of the university’s most travelled professors. Dunlop, a labor expert, teaches an undergraduate course on unionism and public policy applying to labor relations and problems; in the grad school he conducts two seminars, in one of which he had worked closely with the late Professor Slichter. But in addition to his teaching, Professor Dunlop is one of the country’s leading strike arbitrators, and he figures that he travels in the vicinity of 150,000 miles a year on this outside work. The occasion for a weekly trip to the nation’s capital is his post as the impartial chairman of a joint committee in the construction industry, comprising representatives of the eighteen major unions and contracting firms. In this position Professor Dunlop must mediate disputes between the union and management. He is also a permanent umpire for the women’s garment industry and in the past has served in similar capacities for the brass companies of Connecticut and the bituminous coal producers. The dispute in 1955 involving the complexities of the ratio of required conductors to the length of a freight train called him back to the role of mediator, following a long term with the Atomic Energy Labor panel. At present he edits the Wertheim series on the histories of various big corporations and unions, and he also administers a Ford Foundation grant to study the functionings of labor and management in the underdeveloped countries of Asia.

Professor Dunlop was born in the Forty-Niner gold region and graduated from the University of California in 1935. He has been with Harvard since 1938, when he joined the faculty as an instructor. He gets back to California at least once a year, and the last time he returned he did so by travelling eastward via Indonesia. Professor Dunlop lives in Belmont, and, when not compiling mileage, he devotes his time to his wife and three children, and concentrates on his tennis game.

Source: The Harvard Album, 1960, p. 29.

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Previously posted departmental reports

Department Reports to the Dean (1932-41)
Department Reports to the Dean (1942-1946)
Department Reports to the Dean (1947-1950)
Department Report to the Dean (1955-56)
Department Newsletter (June 1960)

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June 26, 1962

Report
Department of Economics, 1961-1962

1. Staff

Professor Gerschenkron was Taussig Research Professor for the year, and Professor Albert J. Meyer, lecturer in the Department, was also on leave. Professor Galbraith and Kaysen continued on leave in government appointments. During the spring term Professor Harris was on sabbatical leave; Professor Bergson held a Ford Faculty Research Fellowship, and Professor Leontief was Visiting Professor at the College du France, Paris. Assistant Professors Gill and Vanek were also on leave throughout the year.

As a consequence of the number of senior members on leave, the Department included this year a relatively large number of visiting professors and lecturers. Professor Jesse Markham of Princeton University taught the courses in industrial organization; Dr. Frank Spooner was in charge of economic history; Professor William H. Nicholls of Vanderbilt instructed in agriculture and economic development. Professor Jacob Viner was Taussig Research Professor, and while he taught no courses, we were delighted to have him with us for the year. Professor Schmookler of Minnesota was associated with the science and public policy seminar of the Littauer School, and was a visiting lecturer in the Department. In addition, Professor Domar of M.I.T. taught a course in the Soviet economy in the spring term. Mr. Langley gave courses ordinarily taught by Professor A.J. Meyer, and Professor Caleb Smith of Brown University continued to teach the accounting course.

2. New Appointments

       The Executive Committee unanimously recommended the appointment of Professor Richard Caves as a permanent addition to the Department. Following the established procedures, the governing boards on May 14, 1962 voted his appointment as Professor of Economics effective July 1, 1962. Professor Caves completed his Ph.D. degree in the Department in 1958 and has been on the staff at the University of California (Berkeley) since 1957. He has been vice-chairman of the Berkeley Department. The appointment of Professor Caves will materially strengthen the Harvard Department, particularly in the fields of international trade and industrial organization. Moreover, he is regarded as an excellent undergraduate teacher.

       The Department unanimously recommended and the President and governing boards approved the appointment of four new assistant professors starting July 1, 1962: Clopper Almon, Jr., Elliot Berg, Phoebus Dhrymes, and Thomas Wilson. It is planned that these assistant professors in the Department will devote part time to research and be paid in part from research budgets. Such arrangements, combined with the higher salary scales starting July 1, 1962, should facilitate the recruitment of first rate assistant professors; it has often been difficult in the past to fill this rank in this Department.

       In approving these four appointments on March 5, 1962, President Pusey stated:

“It is my understanding that these four new Assistant Professors will devote part of their five-year tenure to special research projects and that an appropriate fraction of their salaries during these periods will be charged against the project budgets. I approve in principle the idea of experimenting in this way with charging portions of the salaries of assistant professors to grants or contracts, provided these grants or contracts are of sufficient duration to avoid the danger of funds running out when there are still large salary commitments in excess of our normal academic salary budget. Thus I feel that we should move with caution in this direction, treating the above appointments as experimental, and waiting for the results to become apparent before venturing further along this road.”

3. Chair in Modern China Studies and Economics

       The primary responsibility for filling this chair has now been placed in the Department of Economics. After a series of conferences with the East Asia Research Center of Harvard University, President Pusey approved the arrangements under which the Department will seek a permanent appointment competent in Economics and with a command of the Chinese language. In the meanwhile, the Department is to be responsible for providing some instruction on term appointments in the field and is to have the use of the income of the endowment for such instruction and to develop promising scholars in this field.

       Professor Kuznets is to be Chairman of the Committee of the Department to seek appropriate appointments. It is expected that Mr. Dwight Perkins, a graduate student in the Department, will provide a half course of instruction on the Economy of China in the spring term, 1963.

4. Undergraduate Program

       The enrollment in the undergraduate courses in the Department has grown in the last several years. The aggregate enrollment in undergraduate courses was 926 in the fall of 1959 and 1375 in the fall of 1961; the aggregate enrollment was 1080 in the spring term of 1960 and 1281 in the spring of 1962. These figures include the enrollment in Economics 1 which averaged 540 in 1959 and 628 in 1962. It is thought that these increases in part reflect the reorganization of the undergraduate program placed into effect in the fall of 1960 following several years of work on the part of the committee on undergraduate instruction. The division of full year courses into half year courses, the arrangement of courses into four groups according to prerequisites and level of difficulty, the lectures in Economics 1 and the addition to the curriculum of a few new courses is thought to have stimulated enrollment.

       Despite the increases in enrollment in undergraduate courses, the Department faces a serious continuing problem to maintain and to increase the number of concentrators in the field. The percentage of all concentrators who elect the field of Economics has declined from 7.7 percent in 1956-57 to 6.0 percent in 1960-61. The low concentration in Economics at Radcliffe is of particular concern to the Department, and conferences seeking to increase interest among the students have been held with President Bunting and other members of the Radcliffe staff.

       In order to improve the quality of our instruction, Economics 98 (junior tutorial) is to be reorganized. The adoption of the Gill plan by the Faculty materially increased the number of students in Economics 98 from 40 or 50 to more than 80. The instruction in economic theory by lectures has proven to be inappropriate with the larger group. Next year, 1962-63, it is planned to divide the group into three or four seminars, each of approximately 20 students; each seminar is to be under the direction of a senior member of the Department or an assistant professor. In addition, tutorial groups of four or five students will meet with individual tutors. Professor Caves has been given overall responsibility for this important part of the undergraduate program.

5. Graduate Instruction

       There was a total of 48 first year graduate students in the Department this year including 5 women and 3 enrolled through Littauer. There were 88 continuing graduate students including 6 women, 6 from Littauer, and 2 in joint degrees, for a total of 136 graduate students; in addition, the Department had 10 special students and 10 special auditors. A total of 21 Ph.D. degrees were awarded to students in the Department of Economics.

       The competition for places in the graduate schools for work in the Department of Economics has grown more severe in recent years. From the more than 260 applications for admission to the Graduate School of Arts and Sciences received in the spring of 1962, there will only be about 45 new graduate students in the fall of 1962. Almost half of these students will be from outside the United States and Canada. For the fall of 1962 we have been able to obtain the admission of 8 out of the first 10 on our list, a considerably higher fraction than in recent years.

       The Department faces strong conflicting pressures in making decisions on the number of new graduate students to be admitted. On the one hand, the Department is anxious to provide individual instruction particularly after the first year of graduate study for the highest quality students. A greater enrollment would also complicate materially the teaching of the required graduate courses in economic history, statistics and theory, and after a point would require further manpower so that two senior members of the Department might give parallel courses or sections. On the other hand, the Department is anxious to make its contribution to the increased demands for economists particularly for developing countries. Moreover the quality of a number of the students rejected for admission (perhaps as many as 15 to 20) appears to be very good. In the selection of students from abroad it is particularly difficult to know whether one has made the best selections. When students are admitted whose records turn out to be poor, there are often many complications for both the student and the University. The Department has spent considerable energy in reviewing the records of students admitted during the past decade; a careful statistical study was made under the direction of Professor Houthakker. The Department is continuing to seek to improve admission procedures.

         Financial resources available to the Department for its own use for scholarships and fellowships is a serious problem since the money made available by the generous gift of Mr. Roger Kyes has now been exhausted.

6. Organization of the Department

The Department now performs much of its routine business through committees. The two major committees are on Undergraduate Instruction under Professor Eckstein and on Graduate Instruction under Professor Dorfman.

7. Research

         A very large amount of research activity is carried out by members of the Department of Economics. In addition to individual research by senior members, an increasing number of research projects which employ a number of graduate students and junior staff are being conducted under the direction of senior members. These research projects often provide opportunities for training of graduate students in research methods and afford topics and financing for Ph.D. dissertations.

         Among these research projects with financial support are the following:

Professor Leontief Harvard Economic Research Project which has recently been refinanced for a period of years.
Professor Mason The relations of government and business in economic development.
Professor Mason and Dr. Papanek Overseas operations and training
(Center for International Affairs)
Professor Kuznets Economic growth
Professor Eckstein Economics of public expenditures
Professor Houthakker Forecasting consumers’ expenditures
Professor Harris Education and Public Policy
Professor Schelling Defense studies and Experimental Study of Bargaining
Professor Dunlop Labor-Management History and Economics of Medical Care
Professor Duesenberry Capital Markets
Professor Meyer Business Decisions
Professor Bergson Soviet Economics
Professor Gerschenkron Economic History Workshop

8. Public and Professional Activities

         A number of members of the Department were engaged in a wide variety of professional activities and public service during the year. A few instances may be of interest; no attempt is made for a complete listing.

         The president of the American Economic Association comes from this Department two years in a row. Professor Mason is president for 1962, and Professor Haberler is president-elect.

         Professor Leontief was chairman of the International Conference on Input-Output Techniques held in Geneva, Switzerland in September 1961 and sponsored by the Harvard Economic Research Project in association with the U.S.[sic] Secretariat. He was also a member of the Commission of Experts for the United Nations which reported on the Social and Economic Consequences of Disarmament.

         Professor Dorfman served as a member of the President’s Scientific Advisory Committee team on Waterlogging and Salinity in West Pakistan. He is also a member of the President’s Committee to Appraise Employment and Unemployment Statistics.

         Professor Harris is serving as Economic Advisor to the Secretary of the Treasury and is a member of the Public Advisory Board of the Area Redevelopment Program.

         Professor John R. Meyer served as a consultant in connection with the President’s message on Transportation Policy.

         Professor Kuznets is Chairman of the Committee on the Economy of China of the Social Science Research Council.

         Professor Bergson is a member of this same Committee and chairman of the Joint Committee of Slavic Studies of the Social Science Research Council and the American Council of Learned Societies. His study, The Real National Income of Soviet Russia Since 1928, was published in 1961 by the Harvard University Press.

         Professor Mason is Chairman, Advisory Committee, A.I.D.

         Professors Duesenberry, Eckstein and Smithies have been consultants to the Council of Economic Advisors. Professor Duesenberry was on the staff of the Commission on Money and Credit and was chairman of the Joint Economic Committee’s Inventory Study Committee.

         Professor Schelling has been a consultant to the Department of Defense and to the Scientific Advisory Board of the Air Force. His study Strategy of Arms Control (with Morton J. Halperin), was published by the Twentieth Century Fund in 1961.

         Professor Houthakker has worked on revenue forecasting problems for the Department of the Treasury.

         Professor Dunlop was a member of the Presidential Railroad Commission (1960-1962), and is a member of the President’s Missile Sites Labor Commission. He was Chairman of the International Conference on Labor Productivity under the auspices of the International Economic Association held August-September 1961.

9. Visiting Committee

         A series of meetings this year with the Chairman of the Visiting Committee, and others of its members, have improved the relations between the Visiting Committee and the Department of Economics. I believe these new attitudes are reflected in the annual report of the Committee. There is a genuine desire on the part of both the Department and the Committee for a constructive relationship.

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John T. Dunlop
Chairman

Source: Duke University. Economists’ Papers Archive. David M. Rubenstein Rare Book & Manuscript Library. Edward H. Chamberlin Papers, Box 17, Folder “Economics Department 1960-62”.

Image Source: The Harvard Class Album 1960, p. 29.

Categories
Agricultural Economics Economists Harvard

Harvard. Economics Ph.D. William H. Nicholls, 1941

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In his file at the President’s Office of the University of Chicago one finds a carbon copy of William H. Nicholls’ section 18 “Education, Employment, Publications” from what looks to be his U.S. Federal Civil Service application, perhaps required for his consultancy for the Office of Price Administration, Meats Section Washington in 1941-42. We have here a very complete accounting of his activities covering his graduate school years 1934-1940, both coursework and employment.

This post also includes a biographical sketch at his Kentucky alma mater’s Hall of Fame together with a memorial piece in his honor at the department of economics of Vanderbilt University where he was on the faculty for thirty years.

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[Carbon Copy from Federal Civil Service Application(?) ca. January 1941]

18. EDUCATION, EMPLOYMENT, PUBLICATIONS, ETC.

18(a). Chronological Record.

Education

1930-34
(School-years)
University of Kentucky A.B., 1934 Graduated “with high distinction”, Phi Beta Kappa.
1934-37
(School-years)
Harvard University A.M. in Economics, 1937 Also part-time assistantships (see “Employment” below[)].
Feb., 1941 Harvard University Ph.D. in Economics, 1941 Thesis completed in absentia.

 

Foreign Travel

Summer, 1931         Travel in 12 countries of Europe.

 

Employment (Part-time= *)

Place of Employment Dates Institution Immediate Employer Title Salary
Washington, D.C. June-Sep. 1934 Tobacco Section, AAA Dr. J. B. Hutson
Chief
Statistical Clerk $1800.
Cambridge, Mass. Sep.1934-June 1935 Harvard Univ. Dr.John D. Black Research Assistant $600.*
Harrodsburg, Ky. June-Sep. 1935 Farm H.F. Parker Farm hand Room & board
Cambridge, Mass. Sep.1935-June, 1936 Harvard Univ. Dr. John D. Black Research Assistant $720.*
New England (Boston) June-Sep.1936 Bureau of Agri. Econ., U.S.Dept. of Agriculture Mr. R.L. Mighell Field Agent $2000.
Cambridge, Mass. Sep.1936-June 1937 Harvard Univ. Dr.John D. Black Research Assistant $500.*
New England (Boston) June-Oct., 1937 Bureau of Agri. Econ., U.S. Dept. of Agriculture Mr. R.L. Mighell Field Agent $2000.
Cambridge, Mass. Oct.1937-Jan.1938 (Independent Research at Harvard University)
Ames, Iowa Feb. 1938-July 1939 Iowa State College Dr. T.W. Schultz Research Assistant & Instructor $2430.
Ames, Iowa July, 1939-July, 1940 Iowa State College Dr. T.W. Schultz Research Assistant & Instructor $3000.
Ames, Iowa Iowa State College Dr. T.W. Schultz Assistant Professor $3300.

 

 

18(b). Graduate Courses at Harvard University and Research

Graduate Courses at Harvard University

Professor Title of Course Grade
F. W. Taussig Economic Theory A-
Joseph Schumpeter Economic Theory
W. L. Crum Theory of Statistics B, A
C. J. Bullock History of Economic Thought Audit
John H. Williams Theory of Money and Banking A-
E. F. Gay Economic History B plus
John D. Black Economics of Agriculture A-
O. H. Taylor Scope and Method of Economics A
John D. Black Interregional Competition A
John D. Black Commodity Prices and Distribution A-

 

  1. Bureau of Agricultural Economics, Field Agent, June-September, 1936.

Supervisors– Ronald L. Mighell, Senior Agricultural Economist, and Dr. John D. Black, Harvard University.

Nature of Work– The project concerned Interregional Competition in Dairying, and was a cooperative endeavor of the Bureau of Agricultural Economics and Harvard University. The work consisted of taking farm-survey records on dairy farms in Vermont and Connecticut. The applicant was also responsible for collecting background material on milk marketing problems, including local hauling, operation of milk plants, milk prices and price plans, rail and truck transportation, governmental programs, and cooperative organization.

  1. Bureau of Agricultural Economics, Field Agent, June-October, 1937.

Supervisors– Ronald L. Mighell Dr. John D. Black, Harvard University.

Nature of Work– This was a continuation of the project outline above. The applicant was in charge of the marketing phases of the study in New England. This work consisted primarily of a study of milk distribution and milk control problems in Hartford, Worcester, and Boston, involving contacts with distributors, cooperative officials, administrators of milk control boards, and health officials in those milk markets, as well as research workers in milk marketing at the state colleges of Vermont, Massachusetts, and Connecticut. A manuscript of 189 pages was prepared, bringing together and analyzing the data gathered. Although this was to be used primarily as service material to the larger study of which it was only a part, it will later be published in some form.

  1. Research Assistant to Dr. John D. Black, Harvard University, September 1934-June, 1935: September, 1935-June, 1936; September, 1936-June, 1937.

Supervisors– Dr. John D. Black, Dr. John M. Cassels, and Dr. J. K. Galbraith, all of Harvard University.

Nature of Work- The duties of these part-time assistantships required some 20-27 hours a week, while the applicant carried a ¾ time graduate study program concurrently.

During the school-year 1934-35, he was responsible for a considerable part of the statistical work on Dr. Black’s book, “The Dairy Industry and the AAA”, as well as two articles in the Quarterly Journal of Economics by J. K. Galbraith and John M. Cassels, respectively.

During the school-year 1935-36 he assisted Dr. Black in the construction of index numbers and the study of farmers’ supply response to price, and made a brief study of tobacco marketing for use in Dr. Black’s course in Prices and Distribution.

During the school-year 1936-37 the applicant made an intensive study and analysis of the dairy-farm records and marketing data collected during the summer of 1936 on the Bureau of Agricultural Economics project. This work was supervised by Dr. Black.

  1. Independent Research, Cambridge, Mass., Oct. 1937-Jan. 1938.

Advisors– Dr. John D. Black and Dr. John M. Cassels of Harvard University.

Nature of Work-During this period, the applicant was working independently on a proposed Ph.D. thesis tracing the historical development of the marketing of manufactured dairy products. This period was one of an extremely intensive survey of the literature on dairy marketing since 1870 in libraries at Harvard and Washington, D. C. It also included several weeks of consulting with the staff of the Dairy Section of the Agricultural Adjustment Administration. This project was dropped as a thesis subject in January, 1938, in order that the applicant might accept a position at Iowa State College. This work served as the foundation for several Iowa Experiment Station research publications at a later date (see next item).

  1. Member of Staff, Department of Economics, Iowa State College, Feb. 1938 to date.

In February, 1938, the applicant became a member of the staff of the Department of Economics, Iowa State College, of which Dr. T. W. Schultz is department head. His initial rank was “Research Assistant” at a salary of $2430. His duties involved full responsibility for initiating and carrying out a aresearch study of the price and production policies in the meat-packing industry. During the following year, largely outside of office hours, the applicant produced manuscripts on the butter and cheese industries, based on data collected just previous to his employment at Iowa State College, which were deemed worthy of publication as research bulletins (see “list of publications”).

The objective of the study of the eat-packing industry was to make a comprehensive survey of the industry, with intensive study of those phases which would shed light on the nature of competition and monopoly elements in the industry.

The procedure was divided into four parts:

(1) Conditions in the livestock and meat markets.

The purpose of this phase of the work was to compile background descriptive material such as was necessary as a foundation for the later, more important phases of the project. This general survey was completed, covering such things as the nature of supply of livestock, demand for meats, the marketing mechanism for livestock and for meats, the composition and degree of concentration in the industry, accounting methods in the industry, and the economics of large-scale plant and firm in the industry.

            (2) Price and production policies followed in the meat-packing industry.

The procedure here was to survey past attempts at control of monopoly in the industry, covering a period of some 50 years. The status of individual packers was examined, as well as the effects on competition of such policies as market sharing, price leadership, price discrimination, advertising and branding, handling of by-products and produce, storage, and trade associations. This program necessitated two important steps: (a) the examination of leading agricultural processing-distributing industries better to determine the true nature of competition in such industries, and the applicability to problems faced by the worker in agricultural marketing research of recent developments in the economic theory of monopolistic competition. The studies of the butter and cheese industries contributed a great deal in this direction, in addition to a full year’s empirical work on the packing industry. (b) the adaptation and extension of the existing theory of monopolistic competition to the somewhat peculiar requirements of the agricultural processing-distributing industries as opposed to the strictly “manufacturing” industries, which have been the main interest of the general economist. It should be realized that the applicant is working in an entirely new field—imperfect competition in agricultural processing and distribution and has, therefore, constantly had to develop or adapt new research techniques and tools.

As a result, under the encouragement of Dr. T. W. Schultz and Dr. John D. Black, the applicant devoted the year 1939-40 primarily to developing the pure theory of imperfect competition, with special application to the agricultural processing-distributing industries. In order to make this theory of as general application as possible, not only were problems of immediate concern in the meat-packing project covered, but the theoretical considerations were broadened to include the theoretical aspects of competition in fluid milk among local country-buying units, and under short-run dynamic conditions as well. Particular emphasis was given to the theory of market-sharing, price leadership, and price discrimination, with major attention to the markets between the farm and the processing-distributing “bottleneck”.

A 460-page manuscript, “A Theoretical Analysis of Imperfect Competition, with Special Application to the Agricultural Industries” resulted. This manuscript represented four times redrafting after critical reading by Professors Black and Mason of Harvard; Professor Stigler of Minnesota; Professors Schultz, Hart, Shepherd, Reid, Lynch and Tintner of Iowa State College; Dr. Frederick V. Waugh and Dr. A. C. Hoffman of the Bureau of Agricultural Economics; and Dr. Harold B. Howe, of the Brookings Institution. All of these critics are highly qualified general or agricultural economists, and their reactions have been generally favorable.

In September, 1940, the manuscript was submitted as a Ph.D. thesis at Harvard University, and has since been accepted by Professors Black and Chamberlin. Professor Chamberlin, the leader in this phase of economic theory, states in a letter of December 23, 1940, that it is “a very fine piece of analysis and a very much worthwhile one…….an chievement of first order ……I can honestly say that I have spent more time in going over and working through some of the complex arguments that I have ever spent on any preceding doctor’s theses. This was partly because I was naturally interested in the subject and also because the thesis itself merited. it.” The plan is to push the manuscript toward publication during the next few months. The applicant expects formally to receive his Ph.D. degree before February 15, 1941.

Beginning July 1, 1939, the applicant’s salary was advanced to $3000 per annum. During the school-year 1939-40, he taught elementary Principles of Economics one-quarter time. On July 1, 1940, he was promoted to the rank of Assistant Professor at a salary of $3300, continuing to teach one-quarter time and pursue research three-quarters time. In the spring of 1941, he is scheduled to initiate a course for graduate students on Imperfect Competition in Agricultural Processing and Distribution.

Concurrently with other work previously outlined, the applicant prepared and presented a paper (unpublished) before a round-table of the American Farm Economic Association on December 28, 1938, entitled “A Suggested Approach to a Research Study in Price and Production Policies of an Agricultural Processing Industry”. Through the combination of theoretical hypotheses and empirical support, as based on the previously described work, he presented a second paper before the American Farm Economic Association in December, 1939. This paper, “Market-Sharing in the Packing industry”, presents statistical data for 1931-37 showing that the four dominant packers still buy relatively fixed proportions of hogs and cattle on the terminal markets as they did in 1913-17. It indicates how this may be evidence of oligopsonistic behavior in buying, the possible limitations of “market-sharing” as a monopolistic device, and how it may affect producer and consumer. This paper, the first published results of the meat-packing project, represents that balanced combination of empirical and theoretical analysis which the applicant considers the ideal research method.

In the December, 1940, issue of the Journal of Political Economy, another article (“Price Flexibility and Concentration in the Agricultural Processing Industries”, pp. 883-88) was published, growing out of previous empirical and theoretical work. This paper discusses the terminology concerning price “Flexibility” and alleged relationships between price flexibility and concentration of control in a given industry. It is argues that, in the agricultural processing industries (where short-run control of the supply of the food product is impossible), unlike the manufacturing industries, flexibility of margins is the important consideration, not flexibility of prices. Previous work of Means, Backman, and others in this field have failed to recognize the necessity for making this important distinction.

The great bulk of the descriptive phases of the price and production policies in the meat-packing industry has been completed. The basis no exists, in the applicant’s opinion, for a much clearer understanding of the nature of competition in the industry. Two important steps yet remain, however:

            (3) The RESULTS of these policies.

This will involve the financial analysis of the leading firms (partially completed), the examination of the relationship of such monopolistic practices as do exist to market price differentials, costs and margins, the method of buying of livestock, and the results in terms of the effects on farmer and consumer. In other words, how far do actual results as to prices, profits, employment, and investment—depart from “ideal” results under more nearly perfect competitive conditions?

(4) Practicable solutions to eliminate any ill-effects on farmer and consumer which are found to exist.

This will involve the consideration as to whether or not reform is necessary. If it is, such alternatives as government regulation, distribution as a public utility, dissolution of large firms, cooperation, government competition, etc., will have to be considered.

 

18(c). List of Publications

“Marketing Phases of Interregional Competition in Dairying”, 189-page manuscript, 1937, to be published.

*Post-War Developments in the Marketing of Butter, Iowa Agr. Exp. Sta., Res. Bul. 250, Feb. 1939, 64 pages.

*”Some Economic Aspects of University Patents”, Journal of Farm Economics, May, 1939, pp. 494-98.

“Short-Circuiting the Butter Middlemen”, Iowa Farm Economist, Jan., 1939, pp. 13-14.

*Post-War Developments in the Marketing of Cheese, Iowa Agr. Exp. Sta., Res. Bul. 261, July, 1939, 100 pages.

“Concentration in Cheese Marketing”, Iowa Farm Econmist, April, 1939, pp. 5[?]-6.

*”Post-War Concentration in the Cheese Industry”, Journal of Political Economy, Dec. 1939, pp. 823-45.

“Suggested Approach to a Research Study in the Price and Production Policies of an Agricultural Processing Industry”, paper read at Round-table on Marketing Research, American Farm Economic Association, Detroit, Dec., 1938, 14 pages, to be published.

*”Market-Sharing in the Packing Industry”, paper read at Annual Meeting, American Farm Economic Association, Philadelphia, Dec., 1939. Published in Proceedings, Journal of Farm Economics, Feb., 1940, pp. 225-40.

Review of Malott and Martin, “The Agricultural Industries”, in American Economic Review, March 1940, pp. 147-48.

*”Price Flexibility and Concentration in the Agricultural Processing Industries2, Journal of Political Economy, Dec., 1940, pp. 883-88.

** A Theoretical Analysis of Imperfect Competition, with Special Application to the Agricultural Industries, Ph.D. Thesis, Harvard University, accepted in December, 1940; 460 pages. To be published on Iowa State College Press by summer of 1941.

 

* Copy available for submission upon request.
**Topical table of contents or summary available upon request.

Source: University of Chicago Archives. Office of the President. Hutchins Administration. Records. Box 284. Folder “Economics 1943-47”.

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Hall of Distinguished Alumni
[University of Kentucky]

William Hord Nicholls

Born in Lexington, Ky., on July 19, 1914. Died, August 3, 1978. University Professor and Administrator. University of Kentucky, A.B., magna cum laude, 1934.

Serving as President of the Southern Economic Association (1958-59) and the American Farm Economic Association (1960-61), his expertise in the area of farm economics has been recognized also by governmental agencies and by a number of professional journals and societies.

After graduating magna cum laude (A.B., 1934) from the University, he then earned an M.A. degree at Harvard University (1938), the Ph.D., (1941) also at Harvard, and did post-doctoral work as a Fellow at University of Chicago (1941-42).

He was instructor, assistant professor and associate professor of economics, Iowa State College, 1938-44; assistant professor of economics, University of Chicago, 1945-48, and went to Vanderbilt University as a professor of economics in 1948. He became Chairman of the Department of Economics and Business Administration there in 1958, serving until 1961, serving the following year as visiting professor of economics at Harvard University. From 1965-77, he was Director of the Graduate Center for Latin American Studies at Vanderbilt, and was Harvie Branscomb Distinguished Professor at Vanderbilt, 1973-74.

He served briefly in 1934 as a statistical clerk for the Agricultural Adjustment Administration, Tobacco Section, Washington, D.C. During the summers of 1936 and 1937, he was field agent for the Bureau of Agricultural Economics, New England. He was research fellow and research assistant to Prof. John D. Black at Harvard, 1934-37, and a consultant, Office of Price Administration, Meats Section Washington, 1941-42. He was managing editor of “Journal of Political Economy,” 1946-48, and a visiting lecturer in Rio de Janeiro, Brazil, summer of 1947.

He also was a member of the faculty, Salsburg (Austria) Seminar in American Studies, summer of 1949; economist and co-editor of “Mission Report,” “Turkish Mission,” “International Bank of Reconstruction and Development,” Turkey and Washington, in 1950; economist, Executive Office of the President, Council of Economic Advisers, Washington, 1953-54; technical director, Seventh American Assembly on U.S. Agriculture, Columbia University, 1954-56; consultant on Latin America,, Ford Foundation, Brazil and New York, 1960-64; agricultural economist, Fundacao Getulio Vargas, Rio de Janeiro, during the summers of 1965, 1968 and 1970, and for a period in 1963 and early 1964, and guest consultant, Instituto de Planejamento Economics e Social, Ministry of Planning, Rio de Janeiro, 1972-73.

He has served on the board of editors of three professional journals, on a number of national committees and advisory boards, and has won a number of additional honors given by agencies he served in various ways.

His book, “Imperfect Competition Within Agricultural Industries,” (1941) went into a second printing in 1947. He also wrote numerous articles for professional publications, as chapters to books, as papers to be delivered at various professional meetings and as policy reports to various agencies.

William Hord Nicholls was named to the Hall of Distinguished Alumni in February 1965.

Source: Hall of Distinguished Alumni, University of Kentucky website.

___________________

Vanderbilt University Memorial

William H. Nicholls was born in Lexington, Kentucky on July 19, 1914, and died in Nashville on August 4, 1978. Professor Nicholls did his undergraduate work at the University of Kentucky and his graduate work at Harvard University, where he received the Ph.D. in 1941. His doctoral dissertation, published that same year, on Imperfect Competition Within Agricultural Industries, established his reputation as one of the country’s leading agricultural economists. He began his teaching career at Iowa State University in 1938 and moved to the University of Chicago in 1945. While serving as assistant professor at the University of Chicago, he edited one of the major professional journals in economics, the Journal of Political Economy. Nicholls came to Vanderbilt as a full professor in 1948, where he continued his prodigious output of books and articles. He was president of the Southern Economic Association in 1958-59 and presidentof the American Farm Economic Association in 1960-61. He received the Centennial Distinguished Alumnus Award of the University of Kentucky in 1966 and was Harvie Branscomb Distinguished Professor at Vanderbilt in 1973. He chaired the Department of Economics and Business Administration from 1958 to 1961 and directed the Graduate Center for Latin American Studies at Vanderbilt from 1965 to 1977.

Distinguished Professor Nicholas Gerogescu-Roegen, writing in support of Professor Nicholls’ nomination for the Harvie Branscomb Distinguished Professorship, said of him, “He is the originator of the field of regional development. One would be justified in speaking of a Nicholls’ school, which has attracted numerous doctoral students to our Economics Department, and has enhanced the prestige of the University. His works in the area of agricultural economics have no equal. They reflect a unique combination of theoretical power with a keen insight of the relevant aspects of actuality. The best example is supplied by his (now a classic) volume Imperfect Competition Within Agricultural Industries, in which Bill has created some new and efficient tools for the analysis of monopolistic structure.

“His scholarly interest in agricultural economics and its relation to economic development brought him in contact with the problems of Latin America, with Brazil in particular. Here, again, Bill showed his imaginative approach and his scholarly grip of difficult problems. The excellent name our own department (and implicitly the University) has in Latin America and among the specialists on Latin American Economics, is due in the greatest part to Bill’s contributions”.

Source: Department of Economics, Vanderbilt University, full biography link from the In Memorium webpage.

Image Source: Department of Economics, Vanderbilt University, in Memorium webpage.

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Columbia Courses Economists Harvard Transcript

Columbia. Search Committee Report. 1950

This report is fascinating for a couple of reasons. The search committee understood its task to identify “the names of the most promising young economists, wherever trained and wherever located” from which a short list of three names for the replacement of Louis M. Hacker in Columbia College was selected. Organizationally, Columbia College is where undergraduate economics has been taught so that teaching excellence, including participation in Columbia College’s legendary Contemporary Civilization course sequence, was being sought as well as was potential for significant scholarship. Appendix C provides important information on James Tobin’s graduate economics education. In a later posting, I’ll provide information on others in the long-list of seventeen economists identified by the search committee.

___________________

January 9, 1950

 

Professor James W. Angell, Chairman
Department of Economics
Columbia University

Dear Mr. Chairman:

The Committee appointed by you to canvass possible candidates for the post in Columbia College that is made available by the designation of Professor Louis M. Hacker as Director of the School of General Studies submits herewith its report.

As originally constituted, this committee was made up of Professors Taylor, Barger, Hart and Haig (chairman). At an early stage the membership was expanded to include Professor Stigler and from the beginning the committee had the advantage of the constant assistance of the chairman of the department.

In accordance with the suggestions made at the budget meeting in November, the committee has conducted a broad inquiry, designed to raise for consideration the names of the most promising young economists, wherever trained and wherever located. In addition to the men known personally to the members of the committee, suggestions were solicited from the authorities at other institutions, including Harvard, Chicago, California and Leland Stanford. By mid December, scrutiny of the records and publications by the committee to the following seventeen:

 

Name Suggested by
Alchian, Armen A. Haley
Bronfenbrenner, Martin Friedman
Brownlee, O. H. Friedman
Christ, Carl L. Angell
Dewey, D. J. Friedman
Du[e]senberry, [James] Stigler
Goodwin, Richard M. Burbank
Harberger, J. H. Friedman
Ho[s]elitz, Bert Friedman
Lewis, H. Gregg Hart
Machlup, Fritz Stigler
Nicholls, William H. Stigler
Nutter, J. W. Friedman
Pancoast, Omar Taylor
Schelling, Thomas Burbank
Tobin, James Burbank
Vandermeulen, D. C. Ellis

[p. 2]

The meeting of the American Economic Association in New York during the Christmas holidays offered an opportunity to meet many of the men on the above list and to make inquiries regarding them. As a consequence, it has been possible for your committee to make rapid progress with its appraisals. Although the committee is continuing to gather information and data, it is prepared at this time to make a series of definite recommendations, with a high degree of confidence that these recommendations are not likely to be greatly disturbed by its further inquiries.

It is the unanimous opinion of the members of your committee that the most eligible and promising candidate on our list is Martin Bronfenbrenner, associate professor of economics at the University of Wisconsin, at present on leave for special service in Tokyo.

Should Bronfenbrenner prove to be unavailable the committee urges consideration of D. J. Dewey, at present holding a special fellowship at the University of Chicago, on leave from his teaching post at Iowa. As a third name, the committee suggests James Tobin, at present studying at Cambridge, England, on a special fellowship from Harvard.

Detailed information regarding the records of these three men will be found in appendices to this report.

Bronfenbrenner, the first choice of the committee, is 35 years old. He received his undergraduate degree from Washington University at the age of 20 and his Ph.D. from Chicago at 25. During his war service, he acquired a good command of the Japanese language. He taught at Roosevelt College, Chicago, before going to Wisconsin and undergraduate reports of his teaching are as enthusiastic as those of the authorities at Chicago. He happens to be personally well known to two of the members of your committee (Hart and Stigler) and to at last two other member of the department (Shoup and Vickrey), all four of whom commend him in high terms.

The following statement from Hart, dated December 6, 1929, was prepared after a conference with Friedman of Chicago:

“Bronfenbrenner is undoubtedly one of the really powerful original thinkers in the age group between thirty and thirty-five. He has always very much enjoyed teaching; my impression is that his effectiveness has been with the upper half of the student body at Roosevelt College and at Wisconsin. He is primarily a theorist but has a wide range of interest and a great deal of adaptability so it would not be much of a problem to fit him in somewhere [p. 3] in terms of specialization. He would do a good deal to keep professional discussion stirring in the University. My impression is that he tends to be underrated by the market, and that a chance at Columbia College might well be his best opportunity for some time ahead. The difficulty is, of course, that there is no chance of arranging an interview; though Shoup and Vickrey, of course, both saw him last summer.”

In a letter dated December 15, Shoup wrote as follows:

“I have a high regard for Martin Bronfenbrenner’s intellectual capacities, and I think he would fit in well in the Columbia scene. He has an excellent mind and a great intellectual independence. In his writings he sometimes tends to sharp, almost extreme statements, but in my opinion, they almost always have a solid foundation, and in conversation he is always ready to explore all sides of the question. When we had to select someone to take over the tax program in Japan, after the report had been formulated, and oversee the implementation of the program by the Japanese government, it was upon my recommendation that Bronfenbrenner was selected. He arrived in Japan in the middle of August and his work there since that time has confirmed me in my expectations that he would be an excellent selection for the job, even though he did not have very much technical background in taxation. I rank him as one of the most promising economists in his age group in this country, and I should not be surprised if he made one or more major contributions of permanent value in the coming years.

“He has gone to Japan on a two year appointment, after having obtained a two year leave of absence from the University of Wisconsin. My understanding is that on such an appointment he could come back to the United States at the end of one year, provided he paid his own passage back. It might be possible that even this requirement would be waived, but I have no specific grounds for thinking so. I believe the major part of his work with respect to implementing the tax program will have been completed by next September. If the committee finds itself definitely interested in the possibility of Bronfenbrenner’s coming to Columbia, I should not let the two year appointment stand in the way of making inquiries.”

The breadth and rang of his interests recommend Bronfenbrenner as a person who would probably be highly [p.4] valuable in the general course in contemporary civilization and the quality of his written work suggests high promise as a productive scholar in one or more specialized fields.

Your committee considers that the appropriate rank would be that of associate professor.

Respectfully submitted,

[signed]

Robert M. Haig

 

______________________________

Appendix A – Martin Bronfenbrenner

The following data regarding Bronfenbrenner are taken chiefly from the 1948 Directory of the American Economic Assoication:

Born: 1914

Education and Degrees:

A.B. Washington University, 1934
Ph.D. University of Chicago 1939
1940-42, George Washington School of Law

Fields: Theory, mathematical economics, statistical methods, econometrics

Doctoral dissertation: Monetary theory and general equilibrium

Publications:

“Consumption function controversy”, Southern Economic Journal, January, 1948
“Price control under imperfect competition”, American Economic Review, March, 1947
“Dilemma of Liberal Economics,” Journal of Political Economy, August, 1946

Additional publications:

“Post-War Political Economy: The President’s Reports”, Journal of Political Economy, October, 1948
Various book reviews including one on W. I. King’s The Keys to Prosperity, Journal of Political Economy, December, 1948, and A. H. Hansen’s Monetary Theory and Fiscal Policy, Annals

Additions to list of publications circulated, January 9, 1950

“The Economics of Collective Bargaining”, Quarterly Journal of Economics, August, 1939.
(with Paul Douglas) “Cross-Section Studies in the Cobb-Douglas Function”, Journal of Political Economy, 1939.
“Applications of the Discontinuous Oligopoly Demand Curve”, Journal of Political Economy, 1940.
“Diminishing Returns in Federal Taxation” Journal of Political Economy, 1942.
“The Role of Money in Equilibrium Capital Theory”, Econometrica (1943).

______________________________

Appendix B – D. J. Dewey

On leave from Iowa.

In 1948 studied at Cambridge, England.
1949-50, at Chicago on special fellowship.

Bibliography:

Notes on the Analysis of Socialism as a Vocational Problem, Manchester School, September, 1948.
Occupational Choice in a Collectivist Economy, Journal of Political Economy, December, 1948.

Friedman and Schultz are highly enthusiastic.

Statement by Hart, dated December 6, 1949:

“Friedman regards Dewey as first rate and points to an article on ‘Proposal for Allocating the Labor Force in a Planned Economy’ (Journal of Political Economy, as far as I remember in July 1949) for which the J.P.E. gave a prize as the best article of the year. I read the article, rather too quickly, a few weeks ago and it is definitely an imaginative and powerful piece of work. How the conclusions would look after a thorough-going seminar discussion, I am not clear; but the layout of questions is fascinating.”

______________________________

Appendix [C] – James Tobin

Statement by Burbank of Harvard, dated December 14, 1949:

“We have known Tobin a good many years. He came to us as a National Scholar, completed his work for the A.B. before the war and had advanced his graduate work very well before he went into the service. He received his Ph.D. in 1947. Since 1947 he has been a Junior Fellow. He was a teaching fellow from 1945 to 1947. He is now in Cambridge, England, and will, I believe, begin his professional work by next fall. Since Tobin has been exposed to Harvard for a very long time I believe that he feels that for his own intellectual good he should go elsewhere. I doubt if we could make a stronger recommendation than Tobin nor one in which there will be greater unanimity of opinion. Certainly he is one of the top men we have had here in the last dozen years. He is now intellectually mature. He should become one of the handful of really outstanding scholars of his generation. His interests are mainly in the area of money but he is also interested in theory and is competent to teach at any level.”

Data supplied by Harvard:

Address:    Department of Applied Economics, Cambridge University, England

Married:   Yes, one child

Born:          1918, U.S.

Degrees:

A. B. Harvard, 1939 (Summa cum laude)
A.M. Harvard, 1940
Ph.D. Harvard, 1947

Fields of Study: Theory, Ec. History, Money and Banking, Political Theory: write-off, Statistics

Special Field: Business Cycles

Thesis Topic: A Theoretical and Statistical Analysis of Consumer Saving

Experience:

1942-45 U.S. Navy
1945-47 Teaching Fellow, Harvard University
1947- Junior Fellow, Society of Fellows

[p. 2 of Appendix C]

Courses:           1939-40

Ec. 21a (Stat.)                  A
Ec. 121b (Adv. St.)          A
Ec. 133 (Ec. Hist)            A
Ec. 147a (M&B Sem)      A
Ec. 145b (Cycles)             A
Ec. 113b (Hist. Ec.)       Exc.
Gov. 121a (Pol.Th.)         A

1940-1941

Ec. 121a (Stat.)                A
Ec. 164 (Ind. Org.)          A
Ec. 20 (Thesis)                A
Ec. 118b (App. St.)          A
Math 21                             A
Ec. 104b (Math Ec.)       A

1946-47 Library and Guidance

Generals:       Passed May 22, 1940 with grade of Good Plus
Specials:         Passed May 9, 1947 with grade of Excellent.

 

Data from 1948 Directory of American Economic Association:

Harvard University, Junior Fellow

Born:                1918

Degrees:           A. B., Harvard, 1939; Ph.D., Harvard, 1947j

Fields: Business fluctuations, econometrics, economic theory, and mathematical economics

Dissertation: A theoretical and statistical analysis of consumer saving.

Publications:

“Note on Money Wage Problem”, Quarterly Journal of Economics, 1941.
“Money Wage Rates and Employment”, in New Economics (Knopf, 1947).
“Liquidity Preference and monetary Policy”, Review of Economics and Statistics, 1947.
[pencil addition] Article in Harris (ed.), The New Economics, 1947.

______________________________

Source: Columbia University Rare Book and Manuscript Library. Department of Economics Collection, Box 6, Folder “Columbia College”

Image Source: The beyondbrics blog of the Financial Times.