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Economics for the Masses: the Visual Display of Economic Knowledge in the United States (1921-1945) Yann Giraud, Loïc Charles
Economics for the Masses: The Visual Display of Economic Knowledge in the United States (1921-1945) Yann Giraud, Loïc Charles To cite this version: Yann Giraud, Loïc Charles. Economics for the Masses: The Visual Display of Economic Knowledge in the United States (1921-1945). 2013. hal-00870490 HAL Id: hal-00870490 https://hal.archives-ouvertes.fr/hal-00870490 Preprint submitted on 7 Oct 2013 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Thema Working Paper n°2010-03 Université de Cergy Pontoise, France Economics for the Masses : The Visual Display of Economic Knowledge in the United States (1921-1945) Giraud Yann Charles Loic June, 2010 Economics for the Masses: The Visual Display of Economic Knowledge in the United States (1921-1945) Loïc Charles (EconomiX, Université de Reims and INED) & Yann Giraud (Université de Cergy-Pontoise, THEMA)1 June 2010 Abstract: The rise of visual representation in economics textbooks after WWII is one of the main features of contemporary economics. In this paper, we argue that this development has been preceded by a no less significant rise of visual representation in the larger literature devoted to social and scientific issues, including economic textbooks for non-economists as well as newspapers and magazines. -
From the Progressives to the Institutionalists: What the First World War Did and Did Not Do to American Economics
From The Progressives to The Institutionalists: What the First World War Did and Did Not Do to American Economics Thomas C. Leonard Review essay on Rutherford, Malcolm (2011) The Institutionalist Movement in American Economics, 1918-1947: Science and Social Control, Cambridge University Press, Cambridge, UK, 410 pp. ISBN: 9781107006997. $95. 1. Introduction Let me begin by recognizing Malcolm Rutherford’s achievement here. In 1998, Geoffrey Hodgson, writing in the Journal of Economic Literature, could say that we lacked an adequate history of Institutionalist Economics. No longer. Thanks to Rutherford’s long labors in the archives, begun before the 21st century was, we now have a splendid history of Institutionalist Economics, and more generally, of the Institutionalist movement, and of American economics between the wars. This is a meticulous, carefully crafted, brick by brick reconstruction of an important but misunderstood era in economic and social thought. At its very best moments, you feel like you are peering into a lost world. Rutherford has produced the new standard against which future contributions will be measured, and also to which historians of American economics will be obliged to respond. Our charge in this symposium is to respond. 2. What the book does The structure of the book is straightforward: we are introduced to the founding group and its students, and we are given compelling portraits of some neglected but important figures, Walton Hamilton and Morris Copeland, who stand in for the first and second generations, respectively. Next we proceed to the core of the book, the professional milieu of the Institutionalist economists, the “personal, institutional, and programmatic bases” of the movement in the Institutionalist academic strongholds – Chicago, Wisconsin, Columbia, Amherst, Brookings, and the National Bureau. -
Visionary Calculations Inventing the Mathematical Economy in Nineteenth-Century America
Visionary Calculations Inventing the Mathematical Economy in Nineteenth-Century America By Rachel Knecht B.A., Tufts University, 2011 M.A., Brown University, 2014 Submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of History at Brown University. Providence, Rhode Island May 2018 © Copyright 2018 by Rachel Knecht This dissertation of Rachel Knecht is accepted in its present form by the Department of History as satisfying the dissertation requirement for the degree of Doctor of Philosophy. Date __________________ ______________________________________ Seth Rockman, Advisor Recommended to the Graduate Council Date __________________ ______________________________________ Joan Richards, Reader Date __________________ ______________________________________ Lukas Rieppel, Reader Approved by the Graduate Council Date __________________ ______________________________________ Andrew Campbell, Dean of the Graduate School iii Vitae Rachel Knecht received her B.A. in History from Tufts University, magna cum laude, in 2011 and her M.A. in History from Brown University in 2014. Her research has been supported by the Program in Early American Economy and Society at the Library Company of Philadelphia, the American Philosophical Society, the American Antiquarian Society, and the member institutions of the New England Regional Consortium, as well as the Department of History and Graduate School at Brown University. In 2017, she received a Deans’ Faculty Fellowship from Brown and joined the History Department as a Visiting Professor in 2018. iv Acknowledgements This dissertation is the product of many years of help, support, criticism, and inspiration. I am deeply indebted not only to the following people, but also to many others who have encouraged me to see this project to its completion. -
Institutional Economics
INSTITUTIONAL ECONOMICS AT COLUMBIA UNIVERSITY Malcolm Rutherford University of Victoria (This Draft: March 2001) This paper draws on archival work using the James Bonbright Papers, J. M. Clark Papers, Joseph Dorfman Papers, Carter Goodrich Papers, Robert Hale Papers, and Wesley Mitchell Papers, all at the Rare Book and Manuscript Library, Columbia University, the Arthur F. Burns Papers at the Eisenhower Library, Abilene, Kansas, and the John R. Commons Papers at the State Historical Society of Wisconsin. My thanks to Lowell Harriss, Aaron Warner, Eli Ginzberg, Donald Dewey, Mark Perlman, Daniel Fusfeld, Mark Blaug, and Walter Neale for sharing their recollections of Columbia. Thanks also to my research assistant Cristobal Young. Any errors are my responsibility. This research has been supported by a Social Science and Humanities Research Council of Canada research grant (project # 410-99-0465). 1 1. Introduction In a number of recent papers I have attempted to outline the nature of the institutionalist movement in American economics in the interwar period (Rutherford 2000a, 2000b, 2000c). At that time institutionalism was a very significant part of American economics. In terms of research output and the production of graduate students, the main centers for institutionalism were the university of Chicago (until 1926 and the departure of J. M. Clark), the University of Wisconsin, the Robert Brookings Graduate School (which existed only briefly between 1923 and 1928), and, after the arrival of Wesley Mitchell in 1913, and J. M. Clark in 1926, Columbia University. Columbia University became the academic home of a large concentration of economists of institutionalist leaning, and other Schools and Departments in the University, particularly Business, Law, Sociology, and Philosophy, also contained many people of similar or related persuasion. -
Eugenics and American Economics in the Progressive Era Thomas C
“More Merciful and Not Less Effective”: Eugenics and American Economics in the Progressive Era Thomas C. Leonard Oliver Wendell Holmes was made a Progressive lion upon his pithy dis- sent to the U.S. Supreme Court’s landmark decision to overturn a New York statute restricting (male) bakers’ working hours. “The 14th Amend- ment,” said Holmes famously, “does not enact the Social Statics of Mr. Herbert Spencer.”1 Twenty-two years later, in another well-known case, Holmes wrote for the majority, which upheld the constitutionality of a Virginia law proposing involuntary sterilization of persons believed to be mentally retarded—the “feebleminded,” in the jargon of the day. “The principle that sustains compulsory vaccination is broad enough to cover cutting the Fallopian tubes,” Holmes wrote in Buck v. Bell (1927). “Three generations of imbeciles,” Holmes volunteered, “is enough.” How does an opponent of Spencerian Social Darwinism come to en- dorse coercive sterilization of the unfit? This essay argues that, as a mat- ter of history, there is no contradiction in the views that underwrite the Correspondence may be address to Thomas C. Leonard, Department of Economics, Fisher Hall, Princeton University, Princeton, NJ 08544; e-mail: [email protected]. I acknowl- edge with gratitude the constructive criticisms of Malcolm Rutherford, Deirdre McCloskey, David Levy, Sandy Peart, Bob Goldfarb, and seminar participants at the annual meetings of the Eastern Economic Association, and of the History of Economics Society. 1. Lochner v. New York, 198 U.S. 45, 76 (1905) (USSC). As popular as his Lochner dissent was with Progressives, Wendell Holmes was no Progressive. -
From Abundance to Scarcity Implications for the American Tradition Kenneth E
The Hammond Lectures Number 1 From Abundance to Scarcity Implications for the American Tradition Kenneth E. Boulding Michael Kammen Seymour Martin Lipset Number 1 From Abundance to Scarcity Implications for the American Tradition Kenneth E. Boulding Michael Kammen Seymour Martin Lipset With an Introduction by Richard C. Snyder OHIO STATE UNIVERSITY PRESS: Columbus Copyright © 1978 by the Ohio State University Press All Rights Reserved. Library of Congress Cataloging in Publication Data Boulding, Kenneth Ewart, 1910 From abundance to scarcity. (The Hammond lectures; no. 1) CONTENTS: Boulding, K. E. The limits to progress in evolutionary systems.—Kammen, M. From scarcity to abundance—to scarcity?—Lipset, S. M. Growth, affluence, and the limits of futurology. 1. Economic history—1945—Addresses, essays, lectures. 2. Economic development—Addresses, essays, lectures. 3. Social history—1945—Addresses, essays, lectures. 4. Un ited States—Economic conditions—1971—Addresses, es says, lectures. 5. Forecasting—Addresses, essays, lectures. I. Kammen, Michael G., joint author. II. Lipset, Seymour Mar tin, joint author. III. Title. IV. Series. HC59.B653 330.9'047 77-16415 ISBN 0-8142-0288-8 Contents Introduction 7 By Richard C. Snyder The Limits to Progress in Evolutionary Systems 17 By Kenneth E. Boulding From Scarcity to Abundance—to Scarcity? Some Implications for the American Tradition from the Perspective of a Cultural Historian 37 By Michael Kammen Growth, Affluence, and the Limits of Futurology 65 By Seymour Martin Lipset Richard C. Snyder Introduction to the Hammond Lecture Series i The Graduate School of the Ohio State University is privileged to publish the first Hammond Lectures, which were given originally on the successive evenings of 18, 19, and 20 October 1976. -
Religion and Evolution in Progressive Era Political Economy: Adversaries Or Allies? Thomas C
Religion and Evolution in Progressive Era Political Economy: Adversaries or Allies? Thomas C. Leonard Of the several influences on early Progressive Era American political economy, two stand out, evangelical Protestantism and evolutionary sci- ence.1 Scholarly and popular accounts alike have tended to make sci- ence and religion antagonists, no more so than with the conflict they find between evangelical Protestantism and evolutionary science, as exem- plified by accounts of the 1925 Scopes trial.2 But evangelical Protestant- ism and evolutionary science comfortably coexisted in Progressive Era American political economy. Leading progressive3 economists, not least Correspondence may be addressed to Thomas C. Leonard, Department of Economics, Fisher Hall, Princeton University, Princeton, NJ 08544; e-mail: [email protected]. This essay benefited from the constructive criticism of several distinguished scholars. I especially wish to acknowledge the comments of Marie Griffith and Wallace Best, as well as those of the participants in the American Religious History seminar at Princeton University. 1. The term evangelical can be elusive. In the nineteenth-century American context it refers less to a specific group or church than to a set of widely held Protestant commitments: (1) the need for conversion (being “born again”), (2) the authority of the Bible, (3) an empha- sis on the sacrifice and resurrection of Jesus Christ, and (4) activism, in the form of mission- ary or social work (Bebbington 1989, 2–3). 2. The concept of religion and science in conflict can be found in late-Victorian-era books such as John William Draper’s History of the Conflict between Science and Religion (1875) and Andrew Dickson White’s A History of the Warfare of Science with Theology in Christen- dom (1896). -
Veblen's Institutionalist Elaboration of Rent Theory
Working Paper No. 729 Veblen’s Institutionalist Elaboration of Rent Theory by Michael Hudson Levy Economics Institute of Bard College August 2012 The Levy Economics Institute Working Paper Collection presents research in progress by Levy Institute scholars and conference participants. The purpose of the series is to disseminate ideas to and elicit comments from academics and professionals. Levy Economics Institute of Bard College, founded in 1986, is a nonprofit, nonpartisan, independently funded research organization devoted to public service. Through scholarship and economic research it generates viable, effective public policy responses to important economic problems that profoundly affect the quality of life in the United States and abroad. Levy Economics Institute P.O. Box 5000 Annandale-on-Hudson, NY 12504-5000 http://www.levyinstitute.org Copyright © Levy Economics Institute 2012 All rights reserved ISSN 1547-366X ABSTRACT As the heirs to classical political economy and the German historical school, the American institutionalists retained rent theory and its corollary idea of unearned income. More than any other institutionalist, Thorstein Veblen emphasized the dynamics of banks financing real estate speculation and Wall Street maneuvering to organize monopolies and trusts. Yet despite the popularity of his writings with the reading public, his contribution has remained isolated from the academic mainstream, and he did not leave behind a “school.” Veblen criticized academic economists for having fallen subject to “trained incapacity” as a result of being turned into factotums to defend rentier interests. Business schools were painting an unrealistic happy-face picture of the economy, teaching financial techniques but leaving out of account the need to reform the economy’s practices and institutions. -
American Economic Reform in the Progressive Era: Its Foundational Beliefs and Their Relation to Eugenics Thomas C
American Economic Reform in the Progressive Era: Its Foundational Beliefs and Their Relation to Eugenics Thomas C. Leonard It is a Whiggish temptation to regard progressive thought of a century ago as akin to contemporary progressivism.1 But, befi tting the protean nature of the American reform tradition, the original progressives enter- tained views that today’s progressives, if they knew of them, would reject as decidedly unprogressive (Gerstle 1994). In particular, the progressives of a century ago viewed the industrial poor and other economically mar- ginal groups with great ambivalence. Progressive Era economic reform saw the poor as victims in need of uplift but also as threats requiring social control, a fundamental tension that manifested itself most conspicu- ously in the appeal to inferior heredity as a scientifi c basis for distinguish- ing the poor worthy of uplift from the poor who should be regarded as threats to economic health and well-being. So, while progressives did advocate for labor, they also depicted many groups of workers as undeserving of uplift, indeed as the cause rather than the consequence of low wages (Leonard 2003b). While progressives did advocate for women’s rights, they also promoted a vision of economic and family life that would remove women from the labor force, the better to meet women’s obligations to be “mothers of the race,” and to defer to Correspondence may be addressed to Thomas (Tim) Leonard, Department of Economics, Princeton University, Fisher Hall, Princeton, N.J. 08544; e-mail: [email protected]. 1. In contemporary American political discourse, the label “progressive” is increasingly substituted for the label “liberal” (Nunberg 2006). -
Retrospectives Eugenics and Economics in the Progressive Era
Journal of Economic Perspectives—Volume 19, Number 4—Fall 2005—Pages 207–224 Retrospectives Eugenics and Economics in the Progressive Era Thomas C. Leonard This feature addresses the history of economic terms and ideas. The hope is to deepen the workaday dialogue of economists, while perhaps also casting new light on ongoing questions. If you have suggestions for future topics or authors, please write to Joseph Persky, c/o Journal of Economic Perspectives, Department of Econom- ics (M/C 144), University of Illinois at Chicago, 601 South Morgan Street, Room 2103, Chicago, Illinois 60607-7121. Introduction American economics transformed itself during the Progressive Era. In the three to four decades after 1890, American economics became an expert policy science and academic economists played a leading role in bringing about a vastly more expansive state role in the American economy. By World War I, the U.S. government amended the Constitution to institute a personal income tax, created the Federal Reserve, applied antitrust laws, restricted immigration and began regulation of food and drug safety. State governments, where the reform impulse was stronger still, regulated working conditions, banned child labor, instituted “mothers’ pensions,” capped working hours and set minimum wages. Less well known is that a crude eugenic sorting of groups into deserving and undeserving classes crucially informed the labor and immigration reform that is the hallmark of the Progressive Era (Leonard, 2003). Reform-minded economists of the Progressive Era defended exclusionary labor and immigration legislation on y Tim Leonard is Lecturer in Economics, Princeton University, Princeton, New Jersey. His e-mail address is ͗[email protected]͘. -
PDF Vol 1 History
Comments of Present and Former Colleagues and Graduate Students on This Book “What a completely wonderful, beautiful book! I look forward to reading it. I was really moved by the inscription you wrote. Thank you so much. It is hard for me to believe, but I am now the most senior member of the department. I’m doing my best to keep the spirit of intellectual pluralism and adventurousness alive, but sometimes it is hard given all of the pressures the department is under. Your book, I think, will do much to remind people of values and spirit which have sustained us.” - Erik Wright, colleague, University of Wisconsin (deceased Jan. 22, 2019) “I have recently joined what I suspect are the exclusive ranks of those who have read the entirety of your 1200 plus page colossal, encyclopedic history of the UW Sociology Department (and its Rural Sociology and Anthropology offspring). When I embarked on the Political Science history, I tracked down most of the dozen or so departmental histories then in existence; I can attest that none of them re- motely compare to yours in their scope, the richness of their detail, or the extraor- dinary scope of the research that you undertook. The accomplishment becomes all the more impressive if, as you suggest in the foreword, you were entirely on your own in this venture, and did not have the funding that I did to hire several research assistants. The amount of material you gathered, and the rich biographical de- tail you provide about the generations of Department faculty as well as many of the graduate students is truly breathtaking. -
The Spread of Political Economy and the Professionalisation of Economists
The Spread of Political Economy and the Professionalisation of Economists This book presents the first systematic research and comparative analysis ever attempted on the rise and early developments of the Economic Associations founded in Europe, the USA and Japan during the nineteenth century. Individual chapters reconstruct the events that led to the foundation of economic societies in Britain, France, Italy, Belgium, Spain, Portugal, the Netherlands, Sweden, Germany, Japan and the USA. Contributors analyse the activities and debates promoted by these associations, evaluating their role in: • the dissemination of political economy • the institutionalisation of economics • the construction of professional self-consciousness among economists With contributions from outstanding experts, this book will be of essential interest not only to historians of economic thought, but also to those working more generally in the fields of economics or the history of scientific thought. Massimo M.Augello is Professor of History of Economic Thought and Head of the Department of Economics at the University of Pisa. He has published Joseph Alois Schumpeter. A Reference Guide (1990), and co-edited Le cattedre di economia politica in Italia (1988), Le riviste di economia in italia (1996), and Associazionismo e diffusione dell’economia politica nell’ltalia dell’Ottocento (2000). He is the managing editor of the journal Il pensiero economico italiano and a member of the Advisory Board of History of Economic Ideas. Marco E.L.Guidi is Associate Professor of History of Economic Thought at the Department of Social Studies at the University of Brescia. He is the author of several works on Bentham and classical utilitarianism.