Index

Adams, Henry Carter, 231 classification of authors by type of

legal-economic relationships, 204 affiliation, 95
Sherman Antitrust Act, view of, institutional affiliation of authors,
181 – 83, 188 101, 102 – 4
Addams, Jane, 44 mathematics, use of, 92
Adler, Mortimer, 140 – 41, 145 nationality and affiliation of
administered-pricing, 19 authors, 95 – 96
AEA. See American Economic Asso- regression analysis, 94
ciation (AEA) Sherman Antitrust Act, views of,
AER. See American Economic Review 181 – 82
(AER) American Institute of Christian
Aftalion, Albert, 299 – 300 Sociology, 34 – 36
After the War — Full Employment American Journal of Mathematics,
(Hansen), 168 245
Alchian, Armen, 210 – 11 American Mathematical Monthly,
Aldrich, Morton A., 55 243 – 44, 246
algebra, use of in theory articles, 91 American monetary economics,
Allen, R. G. D., 252 1920 – 1970, 293 – 306
American Communist Party, 57 interwar years, 296 – 99
American Economic Association monetary theories, typology, 298
(AEA) postwar years, 299 – 300
directories, 88, 120, 126 American Socialist Party, 39
journal of, 86 – 87 Amoroso, Luigi, 244
officers of, 4 Anderson, Benjamin, 298 – 99
presidential addresses, 204 Andrews, E. Benjamin, 181 – 83
resignations, 55 Annals of the American Academy, 87
American Economic Review (AER), antitrust, 215
86 – 86 Chicago approach, 220
age of authors, 97n See also Sherman Antitrust Act

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 310 Index

Arnold, Thurman, 194, 197 – 98 Brookings, Robert, 68 – 69

personality of, 199 Brookings Graduate School, 22
Arrow, Kenneth, 29, 100 Brookings Institution
Ayres, Clarence creation of, 68 – 69
firing of, 56, 57 grants to, 75
New Republic, 60 Gurley-Shaw project, 300 – 301,
303
Bach, George Leland, 73, 78 International Studies Group, 76 – 77
Backhouse, Roger E. Browder, Earl, 57
changes after 1945, 17, 20 Bryan, William, 294
journal articles, 1920 – 1960, Buckley, William F., Jr.
85 – 107 God and Man at Yale: The Supersti-
popularity of methods, 6 tions of “Academic Freedom,”
Bacon, Francis, 242 – 43 58 – 60
Bailey, Martin, 273 Bulletin of the American Mathemati-
Balisciano, Márcia L. cal Society, 247, 250
New Deal, planning, 23 Bullock, Charles
planning approach of, 5, 46, Sherman Antitrust Act, view of,
153 – 78, 220 183, 187 – 88, 190
Bateman, Bradley W., 29 – 52 Bureau of Agricultural Economics,
American Economic Association 13
(AEA), 4 Burns, Arthur, 71, 146 – 48
market solution, 10 Bush, Vannevar
Social Creed movement, 5 Science, the Endless Frontier, 65
Social Gospel movement, 14 business, as patron of economics,
Becker, Gary, 170 67 – 74
Bellamy, Edward, 54 business economy planning, 162 – 63
Bemis, Edward W., 55 business education, 71 – 74. See also
Benforado, Caroline, 235n specific university
Benton, William
business leadership, 69 Calabresi, Guido, 211, 216
CED, officer of, 70 California, University of
Berkeley, University of California, Evans, papers of, 250
101, 105 Calkins, Robert, 78
Betti, Enrico, 230 careers of economists, 1920 – 1946,
Biddle, Jeff, 22, 108 – 33 118 – 29
Birkhoff, G. D., 241, 250 early-career job types, 124
Blaisdell, Thomas, 173 graduate programs, characteristics
Bork, Robert, 209 of, 120
Bowen, Howard, 58 late-career job types, 125
Bowley, A. L., 248, 253 Carey, Henry, 54
Brady, Dorothy, 16 Carnegie Corporation, 68
Brains Trust, 62, 69, 166 Carnegie Endowment for Inter-
Brewster, Ralph, 165n national Peace, 74

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 Index 311

Carnegie-Mellon University marginalism, 3, 37, 46, 48

Graduate School of Industrial Sherman Antitrust Act, view of,
Administration, 73 188
CEA. See Council of Economic Clark, John Maurice, 85
Advisers (CEA) articles by, 45 – 46
CED. See Committee for Economic Control of Trusts, 186, 190 – 93
Development (CED) institutional and neoclassical
Chamberlain, Neil, 78 theory, 4
Chamberlin, Edward, 85 macroeconomic planning, 165
Chase, Stuart orthodox theory, 2, 3
defenses against, 70 social management planning, 157,
planning, 156n 159
social management planning, Clayton Act, 191 – 92, 197
159 – 60 Coal industry proposals, 22
technical-industrial planning, 160n Coase, Ronald H.
Veritas Foundation pamphlet, 175n “Federal Communications Com-
Chicago, University of, 198, 199 mission,” 213
authors of journal articles, 1920 – judges’ application of logic, 219
1960, 100 – 101 operation of markets, theorem and,
Committee on Social Thought 221
(CST), 142 “Problem of Social Cost,” 202 – 4,
debate over general education, 211, 213 – 16, 222
139 – 42 cold war
disciplinary competence, 142 – 48 academic effects, 16
economics curriculum, changes in, economic ideologies, 14, 20
7, 23, 134 – 50 post –World War II, fears of com-
firing of radical economists, 55 munism, 56 – 58
legal-economic relationships, Coleman, W. M., 189 – 90
Chicago school and, 208 – 11, Colm, Gerhard, 173
215, 217 – 18 Columbia University
post –World War II economics, 262, authors of journal articles, 1920 –
266 – 74 1960, 100 – 101, 105
progressive-pragmatist education, Statistical Research Group (SRG),
136 – 39 265
“The Chicago Trust Conference” Committee for Economic Develop-
(Hatfield), 188 ment (CED), 70 – 71, 172
Christian Progressives, 44 Committee on Social Thought (CST),
Christian Socialism, 36 142
Civil Rights Movement, 42 Commons, John R., 85
Clark, John Bates controversies, 22
Carnegie Endowment for Interna- data collection, 45
tional Peace, appointment to, 74 documentary histories, 2
Control of Trusts, 186, 190 – 93 Herron, George D., reaction to, 36
legal-economic relationships, 206 institutionalism, 109

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 312 Index

Commons, John R. (continued ) macroeconomic planning, 165,

leadership of, 41 168 – 68
legal-economic relationships, The Supply and Control of Money
205 – 7 in the United States, 298
Legal Foundations of Capitalism,
207 Daily Maroon, 141
return from private sector, 37 Daniel, Price, 238
Stable Money League, 3 – 4 Dante, writings on, 229, 240 – 41
consumer theory, 20 Davenport, H. J., 3
Control of Trusts (Clark and Clark), Davis, Harold Thayer, 274
186, 190 – 93 debate over general education
Cooper, William W., 73 Chicago, University of, 139 – 42
Copeland, Charles Townsend, 229 Debs, Eugene, 39
Copeland, M. A., 2, 6 defense, nuclear war, 64
Copeland, Morris, 119n Delano, Frederic A., 161n
Cornell University Demsetz, Harold
authors of journal articles, 1920 – property rights, economics of,
1960, 100 210 – 11
Council of Economic Advisers (CEA), Dewey, John, 44, 272
62 – 63, 174 social management planning, 157,
Cournot, Augustin, 243, 244, 246, 159
247 Director, Aaron, 267
Cowles, Alfred, 268, 274 Journal of Law and Economics,
NBER and, 276 – 77 209, 215
Cowles Commission, 267 responsibilities at Chicago, 209
arrival of, 268, 282 Douglas, Paul, 70, 267, 282
early years of, 12
Keynes-Slutsky alliance, 280 early-career job types, 124
Marschak, domination by, 274 – 76 Eccles, Marriner, 165, 168
measurement without theory Econometrica, 87
debate, 10 age of authors, 98n
post –World War II economics, Econometric Institute, 256
262 econometrics
seminars, 147 1920 – 1960, journal articles, 94
creativity, changes, 43 – 46 Econometrics Society, 245, 252, 256
Croce, Benedetto, 239 Economica, 252
Croly, Herbert, 44 Economic Bill of Rights, 174
CST. See Committee on Social Economic Journal, 252
Thought (CST) Economics: An Introductory Text
Currency and Credit (Hawtry), 297 (Samuelson), 173
Currie, Lauchlin The Economics of Defense in the
American monetary economics, Nuclear Age (Hitch and
298 – 99 McKean), 64
Bureau of the Budget, 173 Economic Stabilization Board, 170n

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 Index 313

Edgeworth, Francis Ysidro, 250, 262 mathematization of economics, 230

efficiency, 44 – 45 “The Role of Hypothesis in Eco-
Efroymson, Clarence, 96 nomic Theory,” 253
1890s, 32 – 37, 54. See also Sherman Ezekiel, Mordecai, 171n, 173
Antitrust Act New Deal, planning, 12
Einstein, Albert, 231 technical-industrial planning,
Eisner, Robert, 16, 58 160 – 61
Ely, Richard T., 44 Towards World Prosperity, 172 – 73
American Institute of Christian
Sociology, 36 FAES. See Federated American Engi-
data collection, 45 neering Societies (FAES)
Monopolies and Trusts, 190 “Federal Communications Commis-
Outlines of Economics, 37 – 38 sion” (Coase), 213
persecution of, 55 Federal Council of Churches, 41
Property and Contract in Their Federal Reserve System
Relations to the Distribution of establishment of, 296 – 97
Wealth, 41 Great Depression and, 299
reform efforts, 41 macroeconomic planning, 165, 168
Social Gospel movement, 34 – 35 World War II, 96
Emmett, Ross B. Federal Trade Commission Act,
University of Chicago economics 191 – 92
curriculum, changes in, 7, 23, Federated American Engineering
134 – 50 Societies (FAES), 194
empirical articles, defined, 89 Fetter, Frank A., 3
empirical techniques resignation from AEA, 55
1920 – 1960, journal articles, 93 – 95 Sherman Anti Trust Act, defense
employment of, 195
Employment Act of 1946, 62, 77 Financial Deepening in Economic
Full Employment Act of 1945, Development (Shaw), 301
174 Fisher, Irving, 85, 252, 304
interwar period, 168. See also New American monetary economics,
Deal 296 – 98
Employment Act of 1946, 62, 77, 174 marginalism, 46
Enke, Stephen, 64 The Nature of Capital and Income,
Evans, Griffith C., 19, 227 – 59 206
Bacon, Francis, writings on, Stable Money League, 3 – 4
242 – 43 Flexner, Abraham, 71
California, Griffith Conrad Evans grants, comments on, 75 – 76
papers, 250 Ford, Henry and Edsel, 77
Dante, writings on, 229, 240 – 41 Ford Foundation
economics, connection to, 243 – 48 business education reform, 72
Mathematical Introduction to Eco- generosity of, 77 – 78
nomics (Evans), 248 – 50 foundations, as patrons of economics,
mathematician, as, 238 74 – 78

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 314 Index

Foundations for Economic Education, post–World War II, 13

58 World War II, government depart-
The Foundations of Economic Analy- ments, 9; 12 – 13
sis (Samuelson), 29, 85 government, as patron of economics,
Free Silver movement, 294 62 – 67
Friedman, Milton graduate economics education. See
American monetary economics, specific university
294 – 95, 300, 302 – 3 Graduate School of Industrial Admin-
“The Marshallian Demand Curve,” istration, 73
271 – 73 Great Depression
“Monetary and Fiscal Framework call for economic action, 5, 11 – 12
for Economic Stability,” 302 Federal Reserve and, 299
money and banking seminar, 147 institutionalism and, 46 – 47
Price Theory, 272 – 73 planning and, 154
Simons, Henry, debate over reap- religion, influence on, 43
pointment of, 209 Greenberg, Clement, 135
Statistical Research Group, 265 Gurley, John, 295, 300 – 301, 303
Frisch, Ragnar, 252, 274
Full Employment Act of 1945, 174 Haavelmo, Trygve, 279
“Fundamental Points of Potential Hadley, Arthur T.
Theory” (Volterro), 241 institutions, studies of, 3
Furniss, Edgar S., 60 post –World War II economics, 13
Sherman Antitrust Act, view of,
Gaither, Rowan, 78 181 – 83
Galbraith, John Kenneth Hagen, Everett F., 58
Buckley, William, and, 60 – 61 Hale, Robert Lee, 205 – 8
institutional affiliation, 100 Hamilton, Earl, 145
persecution of, 58 Hamilton, Walton H.
Gates, George A., 32 – 37 articles by, 45 – 46
General Theory of Employment, Inter- Brookings, Robert, correspondence,
est, and Money (Keynes), 100n, 68
164, 170, 299 case studies, 2
George, Henry, 54 coal industry proposals, attacks for,
German émigrés, 88n 22
Gideonese, Harry, 140 – 42 legal-economic relationships, 204
Girschick, Meyer, 279 Hands, D. Wade, 260 – 92
Gladden, Washington, 32 – 33 consumer theory, 20
Social Gospel movement, 34 Hansen, Alvin
God and Man at Yale: The Supersti- After the War — Full Employment,
tions of “Academic Freedom” 168
(Buckley), 58 – 60 American monetary economics,
Goodwin, Craufurd D., 53 – 81, 198 299 – 300
cold war, 14 defenses against, 70
institutionalism, decline of, 21 macroeconomic planning, 168 – 69

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 Index 315

persecution of radical economists, Homan, Paul T.

57 – 58 Sherman Antitrust Act, view of,
stagnationist version of Keynesian 196
economics, 69 homo oeconomicus, 235
Harding, President Warren, 45 Hoover, President Herbert
Harrod, Roy, 48 Federated American Engineering
Harvard Corporation, 58 Societies (FAES), 194
Harvard University planning idea and, 156n
authors of journal articles, 1920 – Sherman Antitrust Act, 194 – 96
1960, 100 – 101, 105 Hopkins, Harry, 168
business education, 73 Hotchkiss, Dean, 71 – 72
Keynes at Harvard (Veritas Founda- Hotelling, Harold
tion), 175n Cowles program and, 279
Parsons report, 66 – 67 Friedman’s demand curve, 272,
Hatfield, Henry Rand 273 – 74
“The Chicago Trust Conference,” institutional affiliation, 100
188 legitimacy of economics, 65
Hauge, Gabriel, 71 post –World War II economics,
Hawtry, Ralph 261 – 66
Currency and Credit, 297 review of Evans’ book, 250 – 51
Hayek, Friedrich von, 142 Samuelson, Paul, and, 286, 287
The Road to Serfdom, 172 Hotelling-Schultz impasse. See
Haymarket Riots (1886), 34 Hotelling, Harold; Schultz,
Hedges, Marion H., 174n Henry
Herron, George D., 32 – 37, 44 Houston, Sam, 238
scandal, 39 – 40 Houston Chronicle, 238 – 39
heterodox approaches, 85 Houston Post, 240
Hicks, John R., 48 Houthakker, Hendrik, 286
Value and Capital, 170 Hull House, 44
Hicks-Slutsky approach, 170 Hume, David, 242
higher education, as patron of eco- Hurwicz, Leonid, 16, 274, 281
nomics, 54 – 62 Hutchins, Robert, 136, 268
business education, 71 – 74 Gideonese’s campaign against, 142
persecution of radical economists, reform proposals, 140 – 41, 145
55 – 61
Hillquit, Morris, 39 Illinois, University of
Hitch, Charles J. authors of journal articles, 1920 –
The Economics of Defense in the 1960, 100
Nuclear Age, 64 persecution of radical economists, 58
Hitler, Adolph, 96 Industries monopolisés aux Etats-Unis
Hoffman, Paul (Rousier), 190
business leadership, 69 Innis, Harold, 145
CED, officer of, 70 institutional affiliation of authors,
Ford Foundation and, 78 1920 – 1960, 100 – 104

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 316 Index

institutionalism Journal of Political Economy (JPE),

decline in, University of Wisconsin, 86 – 87
22, 108 – 33 age of authors, 97 – 98n
1920s, 46 Hotelling and Schultz articles, 263
orthodox theory, 2 – 4 institutional affiliation of authors,
scientific investigation, 6 – 7 101
setbacks, 48 – 49 mathematics, use of, 92
waning of, 21 – 23 Sherman Antitrust Act, views of,
institutions 181 – 82, 189 – 90
1920 – 1960, journal articles, JPE. See Journal of Political Economy
100 – 104 (JPE)
Interstate Commerce Commission, 183 Justice Department
interwar period (World War I and II) Anti-Trust Division, 197
American monetary economics,
296 – 99 Kansas State University
legal-economic relationships, firing of radical economists, 55
206 – 8 Kant, Immanuel, 242
planning, 153 – 69 Katona, George, 276
pluralism, 1 – 4 Kelly, H. J., 250
social management planning, Keniston study, 120
157 – 60 Kenyon bills, 165n
standards, changing, 5 – 11 Kerwith, Jerome, 140
Iowa College, 32, 34 Keynes, John Maynard
Israel, Giorgio, 230n General Theory of Employment,
Ives, Charles, 44 Interest, and Money, 100n, 164,
170, 299
Jacoby, Neil, 70 persecution of, 57 – 58
Jakob, Victor Roosevelt, introduction to, 169
Night Thoughts of a Classical Slutsky, alliance with, 280
Physicist, 231 See also Keynesian economics
James, William, 238 Keynes at Harvard (Veritas Founda-
Jenks, Jeremiah, 190 tion), 175n
Jevons, William Stanley, 247 Keynesian economics
John, Isabel Mary, 238 “commercial,” 71
John, Robert A., 238 heresy, as, 58
Johnson, Hugh, 167 market economics and, 16 – 17
Jones, Wesley L., 165n Marxism and, 15
Jordan, David Starr, 55 revolution, 99n
journal articles, 1920 – 1960. See stagnationist version of, 69
1920 – 1960, journal articles success of, 14
Journal of Law and Economics, 216 supplanting by, 47 – 49
editors, 215 Keyserling, Leon, 63, 171n
founding of, 202, 209 King, Martin Luther, Jr., 42
significance of, 217 King, William Lyon Mackenzie, 74

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 Index 317

The Kingdom, 32 Legal Foundations of Capitalism

Kingdom movement, 32 – 37 (Commons), 207
decline of, 43 Leibniz, Gottfried, 242, 243
growth of, 39 Leontief, Wassily, 173, 274
Klein, Lawrence R., 257, 279 Lerner, Abba, 173
Knight, Frank, 3, 69, 85, 267 Levi, Edward
example, as, 146 antitrust course at Chicago, 209
general education, debate over, Lewis, H. Gregg, 268
140 – 42 disciplinary competence and,
influence of, 144, 145 146 – 47
institutional affiliation, 100 List, Friedrich, 54
legal-economic relationships, 210 Locke, John, 242
marginalism, 46
Marshall, Alfred, article on, 271 macroeconomic planning, 164 – 65,
natural science method, on, 6 167 – 69
realism and, 44 Macy, Jesse, 34
“The Ricardian Theory of Produc- Malinowski, Bronislaw, 140
tion and Distribution,” 144 marginalism, 3, 37, 46, 48
Slichter, attack on, 47 market solution, 10
Slutsky approach and, 269 – 71 Marschak, Jacob, 269
Koopmans, Tjalling, 277 – 78, 281 Cowles Commission, domination
confrontation, 47 of, 274 – 76
Yale University, move to, 265 Hotelling-Schultz impasse and,
Kuznets, Simon, 173 276 – 81
neoclassicism, verification, 278 – 79
Lange, Oskar, 145, 269 Theory and Measurement of
influence of, 144 Demand, review of, 274 – 75
recruiting by, 274 Marshall, Alfred, 239, 247
Walrasian approach, 267 – 68 Friedman’s article on, 271 – 73
late-career job types, 125 Marshall, Leon C.
Laughlin, Lawrence, 296 – 98 Chicago, University of, 137 – 39,
American monetary economics, 143
304 “The Marshallian Demand Curve”
Lazarsfeld, Paul (Friedman), 271 – 73
survey on threats to academic free- Marx, Karl
dom, 61 – 62 legal-economic relationships, 202
legal-economic relationships, 202 – 24 Marxism
definition of economics, 205 Keynesian economics and, 15
interwar period (World War I and Mason, Edward, 198
II), 206 – 8 Massachusetts Institute of Technology
new law, 211 – 13 (MIT)
old law, 204 – 11 institutional affiliation of authors,
transformation of law and econom- 101, 105
ics, 213 – 22 post –World War II economics, 262

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 318 Index

Masters, Edgar Lee, 44 Minnesota, University of

Mathematical Groundwork of Eco- careers of economists, 1920 – 1946,
nomics (Bowley), 248 118 – 29
Mathematical Introduction to Eco- Mints, Lloyd, 145, 267
nomics (Evans), 248 – 50 Mirowski, Philip, 20, 260 – 92
mathematics MIT. See Massachusetts Institute of
move to, 16, 48 – 49 Technology (MIT)
1920 – 1960, journal articles, 92 Mitchell, Wesley Clair, 85
role in economics, 19 – 20 business cycle, 67
Mayhew, Anne, 220 National Bureau of Economic
market solution, 10 Research (NBER) and, 45,
New Deal, planning, 23 147 – 48
Sherman Antitrust Act, 179 – 201 national security, economics and,
McCarthyism 65
impact on economics, 15, 17 objective methods, 9
McKean, Roland N. quantitative methods, 2, 4, 6
The Economics of Defense in the separation between science and
Nuclear Age, 64 policy advocacy, 22
Means, Gardiner C. social management planning, 159
administered-pricing, 19 Modigliani, Franco, 16, 58
Committee for Economic Develop- “Monetary and Fiscal Framework for
ment, 172 Economic Stability” (Friedman),
legal-economic relationships, 205 302
macroeconomic planning, 165 monetary economics, 1920 – 1970,
New Deal, planning, 23 293 – 306
technical-industrial planning, monetary Walrasianism, 294 – 96,
160 – 62 302 – 4
Medema, Steven G. Money, Income, and Monetary Policy
legal-economic relationships, (Shaw), 301
202 – 24 Monopolies and Trusts (Ely), 190
primacy of economic efficiency, 10 Moody, John
Wisconsin school of institutional- Truth About the Trusts, 186
ism, 22 Moore, Henry Ludwell, 248, 262 – 63
Mehrling, Perry Morgenstern, Oskar, 64
American monetary economics, Mosak, Jacob, 268
1920 – 1970, 293 – 306 Moulton, Harold, 76 – 77
continuity of ideas, 21 muckrakers, 44
new style of economics, 18
Merriam, Charles E., 161n Nathan, Robert, 170
Michigan, University of National Bureau of Economic
careers of economists, 1920 – 1946, Research (NBER), 22
118 – 29 beginnings of, 45
Millikan, Robert, 76 Cowles, strife between, 276 – 77
minimum wage, 41n grants to, 74

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 Index 319

model developed by Mitchell, Neyman-Pearson language, 279

147 – 48 Niebuhr, R., 43 – 44
new economics, 300, 302 Night Thoughts of a Classical Physi-
National Defense Research Council, cist (Jakob), 231
265 1920 – 1946, careers of economists,
National Economic Council, 163 118 – 29
National Industrial Recovery Act, early-career job types, 124
46 – 47 graduate programs, characteristics
National Planning Association (NPA), of, 120
173 late-career job types, 125
National Recovery Administration 1920 – 1960, journal articles, 85 – 107
(NRA), 12, 62, 69, 166 age of authors, 97 – 99
failure of, 194, 197 authors, 95 – 99
WIB as model, 167 classification of authors by type of
National Resources Committee (NRC) affiliation, 95
Industrial Committee, 160 – 61 contents of articles, 88 – 85
National Resources Planning Board database analysis, 86 – 88
(NRPB), 62, 168 econometrics, 94
Hansen, proposal by, 69 empirical techniques, 93 – 95
Industrial Committee, 172 institutional affiliation of authors,
National Science Foundation (NSF), 100 – 104
65, 67 mathematics, use of, 92
creation of, 77 nationality and affiliation of
natural science method, 6 – 7 authors, 95 – 96
The Nature of Capital and Income regression analysis, 94
(Fisher), 206 theoretical and applied economics,
NBER. See National Bureau of Eco- 88 – 91
nomic Research (NBER) 1920 – 1970, American monetary eco-
Nearing, Scott, 55 nomics, 294 – 306
Nef, John 1920s, 46 – 48
debate over general education, 140, 1930s
142 Sherman Antitrust Act, 193 – 98
disciplinary competence and, 145 Northwestern Congregationalist, 32
neoclassical economics, interwar con- Northwestern University
text, 3 – 4 careers of economists, 1920 – 1946,
Neumann, John von, 281 118 – 29
New Deal, 56 NRA. See National Recovery Admin-
backing of, 49n istration (NRA)
economic policies of, 5, 11, 23 NRC. See National Resources
planning approaches, influences of, Committee (NRC)
155 – 69 NRPB. See National Resources
Wisconsin institutionalism and, 114 Planning Board (NRPB)
New Republic, 44, 60 NSF. See National Science Founda-
new style of economics, 18 – 21 tion (NSF)

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 320 Index

nuclear war, defense, 64 social management planning,

Nutter, Warren, 209 157 – 60
technical-industrial planning,
objective methods, 9 – 10 160 – 62
oligopoly demand curve, 96 World War II, 169 – 71
John M.Olin Foundation, 221 Plant, Arnold, 215
Opie, Redvers, 76 – 77 pluralism, 2 – 5
orthodox economics, interwar interwar pluralism, 1 – 2
context, 3 Poincaré, Henri, 233, 234
Our Country: Its Possible Future Point Four Program, 58
and Its Present Crisis (Strong), Popper, Karl, 272
32 A Positive Program for Laissez Faire
Outlines of Economics (Ely), 37 – 38 (Simons), 208
Posner, Richard A.
Pabst Brewing Company, 171n legal-economic relationships, 215,
Paley Commission, 77 217, 219
Pareto, Vilfredo, 236, 251 post –World War II economics, 13, 30,
criticisms of, 255 260 – 92
Moore influenced by, 263 American monetary economics,
Parsons, Talcott 299 – 300
Social Science Research Council, higher education, attacks on acade-
report to, 66 – 67 mic economists, 55 – 61
Patinkin, Don, 16 planning, 171 – 74
Peel Act (1844), 294 supply and demand, 260 – 62
Pennsylvania, University of pragmatist education
firing of radical economists, 55 Chicago, University of, 136 – 39
Pepper, George W., 165n New Plan for the College, 136
Perlman, Selig, 109 Pratt, John, 76
persecution of radical economists, Price Theory (Friedman), 272 – 73
55 – 61 Princeton
Ph.D. programs authors of journal articles, 1920 –
careers of economists, 1920 – 1946, 1960, 101
118 – 29 “Problem of Social Cost” (Coase),
characteristics of programs, 120 202 – 4, 211, 213 – 16, 222
characteristics of programs employ- Progressives, 5, 44
ing graduates, 128 Chicago, University of, 136 – 39,
Pigou, A. C., 202 – 3 145
planning, 5, 23, 46, 153 – 78 New Deal, backing of, 49n
business economy planning, reform vs. Progressivism, 39n
162 – 63 Wisconsin institutionalism and, 114
ideologies, 158 Property and Contract in Their Rela-
macroeconomic planning, 164 – 65, tions to the Distribution of
167 – 69 Wealth (Ely), 41
post –World War II era, 171 – 74 property rights, economics of, 210 – 11

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 Index 321

Protestantism, 30 – 31, 39, 41, 49 Roiti, Antonio, 230

religious depression, 43n “The Role of Hypothesis in Economic
Theory” (Evans), 253
QJE. See Quarterly Journal of Eco- Rome, University of, 235n
nomics (QJE) Roos, Charles
Quarterly Journal of Economics articles by, 246
(QJE), 86 – 87 Econometric Institute, 256
age of authors, 97 – 98n Econometrics Society, 245, 252
institutional affiliation of authors, mathematical economics, 274
101 NRA and, 12
mathematics, use of, 92 review of Evans’ book, 250
Sherman Antitrust Act, views of, Roosevelt, President Franklin D.
181 – 82, 187 – 88, 192 – 93, 196 Arnold, Thurman, appointment of,
194
Rand, Carrie, 39 – 40 Brains Trust, 62, 69, 166
RAND Corporation, 64 Economic Bill of Rights, 174
Rauschenbusch, Walter Keynes, introduction by Tugwell,
Kingdom Movement, 33 169
rise of, 40 planning ideologies and, 165 – 66,
war, feelings on, 42 – 43 168
Redfield, Robert, 277 Sherman Antitrust Act and,
regression analysis 196 – 97
1920 – 1960, journal articles, 94 victory, reasons for, 299
Reid, Margaret, 16 See also New Deal
Rendiconto Accademia Lencei Ross, Edward A., 55
(Volterra), 228 Rousier, P. de
Review of Economics and Statistics, 87 Industries monopolisés aux
Review of Economic Studies, 87 Etats-Unis, 190
age of authors, 98n Ruml, Beardsley
Reynolds, Lloyd, 78 business leadership, 69
“The Ricardian Theory of Production Laura Spelman Rockefeller Memo-
and Distribution” (Knight), 144 rial Foundation, 75 – 76, 79
Rice Institute, 233, 238 – 41 Russell Sage Foundation, 74
Rice Institute Pamphlet, 240 – 42 Russian planning, interwar period,
Rice University, 248 156
Riis, Jacob, 40
The Road to Serfdom (Hayek), 172 Salant, Walter, 169
Rockefeller, John D. Samuels, Warren, 4
Laura Spelman Rockefeller Memo- Samuelson, Paul, 48, 282 – 87
rial Foundation, 75, 79 age of authors, on, 97
Rockefeller Foundation, 277 Economics: An Introductory Text,
establishment of, 74 173
Laura Spelman Rockefeller Memo- The Foundations of Economic
rial Foundation, 75 Analysis, 29, 85

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 322 Index

Samuelson, Paul (continued ) Sidgwick, Henry, 202 – 3

Hotelling-Schultz impasse, 266 – 67, Simon, Herbert, 73 – 74
286, 287 Simons, Henry Calvert, 70, 267
institutional affiliation, 100 general education, debate over, 141
Keynesian revolution, 99n influence of, 145
persecution of, 58 legal-economic relationships, 208
post –World War II economics, 13, A Positive Program for Laissez
262 Faire, 208
Savage, Leonard, 265 reappointment of, debate, 208 – 9
Schultz, Henry social management planning and,
Cowles program and, 279 157
death of, 267 Sinclair, Upton, 44
empirical techniques, 93 Slichter, Sumner
Friedman’s demand curve, 272 articles by, 45 – 46
post –World War II economics, Knight, attack by, 47
261 – 66 Sloan, Alfred P., 76 – 77
review of Evans’ book, 250–51, 254 Sloan Foundation, 74
Samuelson, Paul, and, 282 – 83, Slutsky, Eugen, 269
286, 287 Keynes, alliance with, 280
Theory and Measurement of See also Slutsky equation
Demand, 264, 282 Slutsky equation, 264, 266, 269 – 71,
Schultz, Theodore, 70 273, 275, 283
Schwartz, Anna J., 300 Small, Albion, 35
Science, the Endless Frontier (Bush), Smith, Adam, 202, 210
65 Social Creed movement, 5
scientific investigation, 6 – 7 acceptance of, 14, 15
scientific jury system, 76 agenda of, 31
Seligman, E. R. A., 38 influence of, 42
Seligman, Edwin, 3 principles of, 40 – 41
Sella, Quintano, 230 – 31 Social Gospel movement, 30 – 32
Shaw, Edward Stone collapse of, 5
American monetary economics, decline of, 41, 48
294 – 95, 300 – 303 influence of, 42 – 43
Financial Deepening in Economic language of, 14 – 15
Development, 301 leadership of, 34
Money, Income, and Monetary message of, 38 – 39
Policy, 301 scandal and, 39 – 40
Sherman, John, 180n Social Science Research Council,
Sherman Antitrust Act, 179 – 201 66 – 67
alternative explanation, 187 – 93 grants to, 75
economists’ views, 181 – 93 Solow, Robert, 29
1930s, 193 – 98 Soule, George, 159 – 60
Whiggish view towards, 184 – 87 Laura Spelman Rockefeller Memorial
Shubik, Martin, 64 Foundation, 75, 79

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 Index 323

Stable Money League, 4 Temporary National Economic

stagnationist version of Keynesian Committee, 77
economics, 69 Terbough, George, 70
Stalin, Joseph, 156 Texas, University of
standards, changing firing of radical economists, 56, 57
interwar period (World War I and theoretical and applied economics
II), 5 – 11 1920 – 1960, journal articles, 88 – 91
Standford, Mrs. Leland, 55 theory and empirical articles, 91
Stanford University Theory and Measurement of Demand
firing of radical economists, 55 (Schultz), 264, 274 – 75, 282
Food Research Institute, 263 theory articles
institutional affiliation of authors, algebra, use of, 91
101, 105 defined, 89
state obligation to support sciences, theory-empirical articles, defined, 89
debate over, 64 – 65 The Theory of Business Enterprise
Stein, Herbert, 171n (Veblen), 188n
Steiner. Edward O., 42 – 43 Theory of Functionals and of Integral
Stigler, George and Integro-differential Equa-
institutional economics, comment tions (Volterro), 228
on, 218, 268 Theory of Price (Stigler), 273
Simons, Henry, debate over reap- Thielens, Wagner, Jr., 61 – 62
pointment of, 209 Tobin, James, 295
Statistical Research Group, 265 Towards World Prosperity (Ezekiel),
Theory of Price, 273 172 – 73
Walgreen professorship, 269 transformation
Stowe, Harriet Beecher character of, 1 – 26
Uncle Tom’s Cabin, 32 contexts of, 29 – 81
Strong, Josiah, 32 – 37 1920 – 1960, 85 – 107
Sumner, William G., 11 The Trend of Economics (Tugwell),
The Supply and Control of Money 138
in the United States (Currie), Truman, Harry, 63
298 Bush, Vannevar, report of, 65
supply and demand Point Four Program, 58
post –World War II economics, Truth About the Trusts (Moody), 186
260 – 62 Tugwell, Rexford, 2
Swope, Gerard academic career, 172
business economy planning, 163 articles by, 45 – 46
“Swope plan,” 195, 199 experimental economics, 6
Keynes, introduction to Roosevelt,
Taussig, Frank, 3, 85, 100 169
Taylor, Frederick W. macroeconomic planning, 165
Progressivism and, 44 National Recovery Administration
technical-industrial planning, 162 (NRA), 197
technical-industrial planning, 160 – 62 New Deal, planning, 12, 23, 46, 166

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 324 Index

Tugwell, Rexford (continued ) Wallis, Allen, 265

persecution of, 57 dean, appointment as, 269
Sherman Anti Trust Act and, 196 Walras, Léon, 247, 263
social management planning, 157, Walrasian mathematical theory,
159 267 – 68, 281
technical-industrial planning, War Industries Board (WIB), 160,
160n 167
The Trend of Economics, 138 War Production Board (WPB), 96,
Tullock, Gordon, 209 170
Type P trainers and economists, Watkins, Myron, 192 – 95
117 Weber, Max, 140
Weintraub, E. Roy
Uncle Tom’s Cabin (Stowe), 32 changing nature of mathematics,
31
Value and Capital (Hicks), 170 Evans, Griffith C., marginalization
Veblen, Thorstein, 2 of, 227 – 59
engineers, importance of, 45 science and mathematics, relation-
Sherman Anti Trust Act and, ship between, 19, 20
196 WIB. See War Industries Board
social management planning, (WIB)
159 Willits, Joseph, 277
technical-industrial planning, Wilson, President Woodrow
162 Clayton Act, 191
The Theory of Business Enterprise, ethics and, 45
188n Federal Trade Commission Act,
Veritas Foundation, 58, 175n 191
Viner, Jacob, 3, 267 Progressive Era and, 137
influence of, 144, 145 Social Gospel movement, 42
marginalism, 46 Wirth, Louis, 140
Princeton, departure for, 267 Wisconsin, University of, 22
skepticism, 282 authors of journal articles, 1920 –
Volterra, Vito, 227 – 37 1960, 100 – 101, 105
economic theory and, 234 – 37 careers of economists, 1920 – 1946,
“Fundamental Points of Potential 118 – 29
Theory,” 241 institutionalism, decline of,
Pareto, Vilfredo, critique of, 255 108 – 33
Rendiconto Accademia Lencei Witte, Edwin, 109
(Volterra), 228 Working, Holbrook, 93
Theory of Functionals and of Inte- World Social Economic Congress, 156
gral and Integro-differential World War I
Equations, 227 Progressive Era and, 137 – 38
reactions to, 42
Wald, Abraham, 265 War Industries Board (WIB), 160,
Walgreen professorship, 269 167

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 Index 325

World War II Yale University, 265

nationality and affiliation of careers of economists, 1920 – 1946,
authors, 95 – 96 118 – 29
planning, 169 – 71 Yntema, Theodore, 268
War Production Board (WPB), 170 CED, officer of, 70
See also Interwar period (World Young, Allyn
War I and II); post –World War II American monetary economics,
economics 297 – 98
WPB. See War Production Board realism, 3
(WPB)
Wright, Frank Lloyd, 44 Zoretti, Ludovic, 235n

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