The Early Patinkin—Friedman Correspondence

1998 ◽  
Vol 20 (4) ◽  
pp. 433-448 ◽  
Author(s):  
Robert Leeson
Keyword(s):  
Oral Tradition ◽  
American Economic Association ◽  
Quantity Theory ◽  
Economic Association ◽  
The University

Don Patinkin (1922-95) was a co-author of the Keynesian neoclassical synthesis, and became engaged in several important controversies. One of them involved Milton Friedman's (1956) assertion about a supposed Chicago quantity theory “oral tradition.” From 1968 until his death, Patinkin hardly seemed to miss an opportunity of denigrating what he regarded as Friedman's “invention.” This controversy was taken to the 1970 American Economic Association (AEA) meeting by Harry Johnson (1971), and divided at least two economics departments, Chicago and the University of Western Ontario, where Patinkin and Johnson were frequent visitors, and where two influential monetarists, David Laidler and Michael Parkin, had migrated from Britain (Parkin, 1986; Patinkin, 1986).

J. Laurence Laughlin versus Irving Fisher on the quantity theory of money, 1894 to 1913

2020 ◽  
Vol 72 (4) ◽  
pp. 1032-1049
Author(s):  
Robert W Dimand
Keyword(s):  
Federal Reserve ◽  
Price Level ◽  
Monetary Theory ◽  
Monetary Reform ◽  
Quantity Theory ◽  
Monetary System ◽  
Long Run ◽  
Economic Association ◽  
The Us ◽  
The University

Abstract In the controversy leading to the Federal Reserve Act of 1913, J. Laurence Laughlin of the University of Chicago and Irving Fisher of Yale were the leading opponent and proponent, respectively, of the quantity theory of money as the theoretical basis for reorganizing the US monetary system. Laughlin identified the quantity theory with bimetallist claims that monetizing silver would have lasting real benefits. Laughlin offered a cost of production theory of the value of gold as an alternative to the quantity theory, while his students published empirical critiques of the quantity theory. Fisher upheld the quantity theory as explaining price movements while distancing the theory from assertions of long-run non-neutrality of money. Laughlin and Fisher vigorously debated monetary theory and monetary reform, notably at American Economic Association meetings. Their confrontations illuminate the monetary controversies preceding the Federal Reserve Act, which reflected the views of Laughlin and Willis (adviser to Congressman Carter Glass) while rejecting the mandate to stabilize the price level proposed by Senator Owen and his adviser Fisher.

scholarly journals Irving B. Kravis: Memoir of a Distinguished Fellow

1993 ◽  
Vol 7 (3) ◽  
pp. 175-184 ◽  
Author(s):  
Lawrence R Klein
Keyword(s):  
New Orleans ◽  
University Of Pennsylvania ◽  
American Economic Association ◽  
Distinguished Career ◽  
Economic Association ◽  
The University ◽  
To Receive

The nomination of Irving Kravis as a Distinguished Fellow of the American Economic Association in 1991 crowned a long and distinguished career. He would go on to no further accomplishments, for it was on the trip to the ASSA meetings in New Orleans to receive the award that he passed away at Philadelphia Airport on January 2, 1992. In spite of a debilitating illness, he had continued working until the end on problems and issues that were his main concerns for more than 50 years; with fuller physical powers, he would undoubtedly have made additional contributions to our profession. This paper first discusses his administrative and pedagogical contributions at the University of Pennsylvania and then his notable research contributions.

Irving Fisher and the Quantity Theory of Money: The Last Phase

2000 ◽  
Vol 22 (3) ◽  
pp. 329-348 ◽  
Author(s):  
Robert W. Dimand
Keyword(s):  
Great Depression ◽  
Monetary Economics ◽  
American Economic Association ◽  
Full Agreement ◽  
Monetary Policies ◽  
Quantity Theory ◽  
Milton Friedman ◽  
The Great Depression ◽  
Economic Association ◽  
History Of

Frank Steindl poses a surprising question in the title of his 1997 article, “Was Fisher a Practicing Quantity Theorist?” and reaches the conclusion that, “Clearly, with the decade of the Great Depression, Fisher was no longer a practicing quantity theorist” (Steindl 1997, p. 259). Such a change in Fisher's monetary economics would sharply revise the view of Irving Fisher generally prevailing in the history of monetary economics, which is based primarily on The Purchasing Power of Money (Fisher with Brown 1911). Fisher's photograph (along with photographs of Marshall and Wicksell) appears on the cover of The Golden Age of the Quantity Theory (Laidler 1991). As Mark Blaug (1995, p. 3) put it, “isn't Irving Fisher the quintessential quantity theorist if there ever was one [?]” Perhaps the most striking tribute to Fisher in the quantity theory tradition is from Milton Friedman, who, addressing the American Economic Association on the question “Have Monetary Policies Failed?” and having quoted from Fisher's 1910 exchange with J. L. Laughlin, remarked “And now I must cease quoting from Fisher, with whom I am in full agreement, and proceed instead to plagiarize him—albeit with modifications to bring him down to date” (Friedman 1972, p. 12).

scholarly journals Matthew Gentzkow, Winner of the 2014 Clark Medal

2015 ◽  
Vol 29 (1) ◽  
pp. 181-192 ◽  
Author(s):  
Andrei Shleifer
Keyword(s):  
Economic Theory ◽  
Industrial Organization ◽  
Digital Environment ◽  
American Economic Association ◽  
Empirical Industrial Organization ◽  
Economic Association ◽  
Economic Forces ◽  
The Media ◽  
The University

The 2014 John Bates Clark Medal of the American Economic Association was awarded to Matthew Gentzkow of the University of Chicago Booth School of Business. The citation recognized Matt's “fundamental contributions to our understanding of the economic forces driving the creation of media products, the changing nature and role of media in the digital environment, and the effect of media on education and civic engagement.” In addition to his work on the media, Matt has made a number of significant contributions to empirical industrial organization more broadly, as well as to applied economic theory. In this essay, I highlight some of these contributions.

Harold Adams Innis 1894–1952

1953 ◽  
Vol 13 (1) ◽  
pp. 1-1
Author(s):  
Edward C. Kirkland
Keyword(s):  
Economic History ◽  
The United States ◽  
American Economic Association ◽  
University Of Toronto ◽  
Charter Member ◽  
Economic Association ◽  
Learned Societies ◽  
The University ◽  
Canadian Economic History

In a long list of publications since 1923 Harold Innis with industry and insight set a pattern for the study and interpretation of Canadian economic history. The University of Toronto, the Dominion Government, and Canadian learned societies in their various fashions paid tribute to the high quality of this achievement. His career, moreover, was a refutation of his own generalization, perhaps playfully formulated, that no Canadian scholar could secure recognition in the United States. He was a charter member of the Committee on Research in Economic History, the second president of the Economic History Association, and at the time of his death president of the American Economic Association.

Conference Reports

2004 ◽  
Vol 54 (3) ◽  
pp. 377-386
Author(s):  
Anita Pelle ◽  
László Jankovics
Keyword(s):  
Hungarian Academy ◽  
Economic Research ◽  
Foreign Direct Investments ◽  
Central Eastern Europe ◽  
Continuity And Change ◽  
Economic Association ◽  
Regional Committee ◽  
The University ◽  
Academy Of Sciences ◽  
European University

(1) The Halle Insitute for Economic Research (Institut für Wirtschaftsforschung Halle, IWH) in cooperation with the European University Viadrina, Frankfurt an der Oder held a conference on 13-14 May 2004 in Halle (Saale), Germany on Continuity and Change of Foreign Direct Investments in Central Eastern Europe. (Reviewed by Anita Pelle); (2) The University of Debrecen, Faculty of Economics and Business Administration in cooperation with the Regional Committee of the Hungarian Academy of Sciences and the Hungarian Economic Association organised an international symposium on the issue of Globalisation: Challenge or Threat for Emerging Economies on 29 April 2004 in Debrecen, Hungary. (Reviewed by László Jankovics)

Book Reviews

2011 ◽  
Vol 49 (3) ◽  
pp. 751-753 ◽  
Keyword(s):  
Public Policy ◽  
Consumer Good ◽  
Campus Culture ◽  
American Economic Association ◽  
American Universities ◽  
Economic Association ◽  
Commercial Enterprise ◽  
Duke University

John J. Siegfried of University of Adelaide and American Economic Association reviews “Big-Time Sports in American Universities” by Charles T. Clotfelter. The EconLit Abstract of the reviewed work begins “Examines the phenomenon of prominent, commercialized university-sponsored athletic enterprises and considers the consequences for the universities that operate them. Discusses strange bedfellows; priorities; the bigness of “big time;” consumer good, mass obsession; commercial enterprise; an institution builder; a beacon for campus culture; ends and means; and prospects for reform. Clotfelter is Z. Smith Reynolds Professor of Public Policy and Professor of Economic and Law at Duke University. Index.”

The Relationship between Theatre and Ritual in the Sogo bò of the Bamana from Mali

2009 ◽  
Vol 25 (3) ◽  
pp. 233-240
Author(s):  
Marie Kruger
Keyword(s):  
Oral Tradition ◽  
Associate Professor ◽  
Sub Saharan Africa ◽  
Structural Elements ◽  
Repetitive Nature ◽  
Sub Saharan ◽  
Metaphorical Expression ◽  
The University ◽  
Shifting Boundaries ◽  
The Relationship

The Sogo bò, primarily an animal masquerade, can be distinguished from Western theatre through its use of a fluid space with shifting boundaries between spectator and performer. An oral tradition dictates the characterization, scenario, and content. The resemblance to ritual can be found in structural elements such as its repetitive nature and the use of non-realistic performance objects and motions. As in ritual, there is a clear sense of order, an evocative presentational style, and a strong collective dimension. The functional resemblance lies in the complex metaphorical expression through which relationships and values are symbolized, objectified, and embodied in a highly artistic way. Marie Kruger is an associate professor and the Chair of the Department of Drama at the University of Stellenbosch, South Africa, where puppetry is offered as a performance and research option. Her research is focused on masquerades in Africa and the various contemporary applications of puppetry in sub-Saharan Africa.

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