Economic essays

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Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Title:: Alternatives seen as basic economic facts / Franklin H. Giddings

Collection:: Economics Books

ALTERNATIVES SEEN AS BASIC ECONOMIC FACTS Franklin H. Giddings In the early eighties a young newspaper man following his craft at Springfield, Massachusetts, had the good fortune to become acquainted with Professor John Bates Clark, then of the Faculty of Smith College at Northampton. Opportunity favor- ing, the acquaintance became intimate, and developed into a life-long friendship. The newspaper man was presumptuously writing daily editorials on the tariff, money, and labor troubles. Professor Clark had formulated his Philosophy of Wealth and was working out its implications. The younger man fell under the spell of it, and, encouraged by his preceptor began making excursions of his own in the domain of theory. At Professor Clark’s suggestion four articles were written, two by himself and two by the novice, presenting four aspects of economic distribu- tion under changing modern conditions. These papers, published first in the Political Science Quarterly, afterwards appeared in book form as The Modern Distributive Process. The younger writer from time to time made further small contributions to journals and to the programmes of the American Economic Asso- ciation, nearly all of them studies in theory. Because of that episode, perhaps, it is now his privilege, after many years of activity in another field, to contribute a few pages to this volume of tribute. Acknowledging myself to have been the party of the second part, I may perhaps be indulged in a further prefatory word. I have now and then been asked why I deserted economics for sociology. The answer is that I did no such nefarious thing. The truth is that I came near deserting sociology for economics. My interest in sociology had been awakened by Herbert Spencer’s chapters on “The Study of Sociology,” published serially in The Popular Science Monthly. They had convinced me that whether or not sociology could become an acknowledged science, it should 104

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