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Wisconsin School
The Wisconsin school in economics was based at the University of Wisconsin–Madison, and played a significant role in American economics in the first half of the 20th century. The Wisconsin school was central to institutionalism in the United States, and also played a prominent role in labor economics and in the development of the policy ideas associated with the New Deal. The central figures in the Wisconsin school were Richard T. Ely and his student John R. Commons. Notable students of Commons included Edwin E. Witte, largely responsible for the drafting of the Social Security Act, Selig Perlman, Kenneth Parsons, and Harold Groves. Other notable economists associated with the Wisconsin school include Walter Heller, Robert J. Lampman, Warren Samuels, and Theodore Schultz. Further reading * References See also * Wisconsin idea The Wisconsin Idea is a public philosophy that has influenced policy and ideals in the U.S. state of Wisconsin's education system a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Selig Perlman
Selig Perlman (December 9, 1888 – August 14, 1959) was an economist and labor historian at the University of Wisconsin–Madison. Background Perlman was born in Białystok in Congress Poland (then part of Russia) in 1888. His father, Mordecai, was a Jewish merchant who supplied yarn and thread to home weavers and was a friend of Maxim Litvinov's father. Perlman had a stutter and was extremely shy, which didn't stop him from excelling in the "Cheder" (the local Jewish religious school), and won a scholarship to attend a state-owned high school (or " gymnasium"). While in high school, he learned Russian and a number of other European languages, and his teachers introduced him to the work of Georgi Plekhanov. Thereafter, Perlman became an ardent Marxist. He never joined a political party or radical movement, however, and his advocacy remained more theoretical than practical. Perlman graduated in 1905.Fink, "A Memoir of Selig Perlman and His Life at the University of W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wisconsin Idea
The Wisconsin Idea is a public philosophy that has influenced policy and Ideal (ethics), ideals in the Wisconsin, U.S. state of Wisconsin's education system and politics. In education, emphasis is often placed on how the Idea articulates education's role for Wisconsin's government and inhabitants. In politics, the Idea is most associated with the historic political upheaval and subsequent reformation during the Progressive Era in the United States.Charles McCarthy (football coach), Charles McCarthy. The Wisconsin Idea'. New York: Macmillan, 1912, Chapter 1. First articulated in the educational sense in 1904 when the University of Wisconsin, University of Wisconsin-Madison President Charles Van Hise declared he would "never be content until the beneficent influence of the university reaches every family in the state", the Wisconsin Idea has been used to frame and foster the public university, public universities contributions to the State governments of the United States, state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodore Schultz
Theodore William Schultz (; 30 April 1902 – 26 February 1998) was an American Agricultural economist and chairman of the University of Chicago Department of Economics. Schultz rose to national prominence after winning the 1979 Nobel Memorial Prize in Economic Sciences. Early life and education Theodore William Schultz was born on April 30, 1902 in a small town ten miles northwest of Badger, South Dakota on a 560-acre farm. When Schultz was in the eighth grade, his father Henry decided to pull him out of attending Kingsbury County Schoolhouse. His father's view was that if his eldest son continued to get an education he would be less inclined to continue working on the farm. Schultz subsequently did not have any formal post-secondary education. He eventually enrolled in the Agriculture College at South Dakota State, in a three-year program that met for four months a year during the winter. After being recognized for having great potential as a student, Schultz moved on to a b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warren Samuels
Warren Joseph Samuels (September 14, 1933 – August 17, 2011) was an American economist and historian of economic thought. He received a BBA from University of Miami, Miami, FL and obtained his Ph.D. from University of Wisconsin–Madison. After holding academic posts in the University of Missouri, Georgia State University, Atlanta, and University of Miami, he was appointed Professor of Economics in Michigan State University in 1968, where he stayed until his retirement in 1998. Warren Samuels made contributions to the history of economic thought and the methodology of economics. His work was inspired primarily by his "interest in generating greater clarity as to the economic role of government both in the history of economic thought and in contemporary economics". He described himself as "a self-professed institutionalist (in a blend of several other schools)." Samuels (2011), p.&nbsxix Samuels received the Distinguished Faculty Award from Michigan State Universit He was a f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Lampman
Robert James Lampman (September 25, 1920 in Plover, Wisconsin, Plover, Wisconsin–March 4, 1997 in Madison, Wisconsin, Madison) was an American economist known for his research on poverty and the measurement of income distribution. Academic career Lampman was a professor of economics at the University of Wisconsin–Madison from 1958 until his retirement in 1987. From 1962 to 1963, he was a member of President John F. Kennedy's Council of Economic Advisors, where he began working after being brought to Washington, D.C. by Walter Heller. He is well known for his work on the Council, which played a major role in the design of the United States government's War on Poverty in the 1960s, including writing the chapter on poverty in the 1964 Economic Report of the President. This work led James Tobin to say in 1997 that Lampman was "the intellectual architect of the War on Poverty". After returning to the University of Wisconsin, he became also a major force behind the founding of the Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Heller
Walter Wolfgang Heller (27 August 1915 – 15 June 1987) was a leading American economist of the 1960s, and an influential adviser to President John F. Kennedy as chairman of the Council of Economic Advisers, 1961–64. Life and career Heller was born in Buffalo, New York, to German immigrants, Gertrude (Warmburg) and Ernst Heller, a civil engineer. After attending Shorewood High School in Shorewood, Wisconsin, he entered Oberlin College in 1931, graduating with a B.A. degree in 1935. Heller received his masters and doctorate degrees in economics from the University of Wisconsin. As a Keynesian, he promoted cuts in the marginal federal income tax rates. This tax cut, which was passed by President Lyndon B. Johnson and Congress after Kennedy's death, was credited for boosting the U.S. economy. Heller developed the first "voluntary" wage-price guidelines. When the steel industry failed to follow them, it was publicly attacked by Kennedy and quickly complied. Heller was one o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harold Groves
Harold Martin Groves (October 3, 1897 – December 2, 1969) was a member of the Wisconsin State Assembly and the Wisconsin State Senate. Biography Groves was born on October 3, 1897, in Lodi, Wisconsin. He attended the University of Wisconsin–Madison and Harvard Law School. From 1927 to 1968, he was a member of the faculty of the University of Wisconsin–Madison. Groves died on December 2, 1969. Political career Groves was a member of the Senate from 1932 to 1936, at which time he was succeeded by Fred Risser. Previously, he was a member of the Assembly from 1930 to 1932. He was affiliated with the Wisconsin Progressive Party The Wisconsin Progressive Party (1934–1946) was a political party that briefly held a dominant role in Wisconsin politics. History The Party was the brainchild of Philip La Follette and Robert M. La Follette, Jr., the sons of the famous Wisco .... One of his achievements in Wisconsin was the passage of the first unemployment compensation law in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth Parsons
Kenneth Herald Parsons (1903–1998) was a professor of agricultural economics at the University of Wisconsin–Madison. He joined the faculty in 1937, received his Ph.D in 1940, and retired in 1974 after a distinguished career of teaching and research. From 1931 to 1936, he worked in Washington DC with the Federal Farm Board, the Farm Credit Administration and the U.S. Department of Agriculture. From 1940 to 1970, Parsons worked with the United Nations Food and Agriculture Organization, the Marshall Plan, the Ford Foundation, and the U.S. Agency for International Development conducting research in Europe, Asia, Africa and Latin America, with a special focus on land tenure and land reform and their economic implementations. As a UW–Madison student in 1929, Parsons was attracted by the ideas of institutional economist John R. Commons, and edited Commons' ''The Economics of Collective Action'' published in 1950 by Macmillan after Commons died in 1945. Parsons wrote "The John R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security Act
The Social Security Act of 1935 is a law enacted by the 74th United States Congress and signed into law by US President Franklin D. Roosevelt. The law created the Social Security program as well as insurance against unemployment. The law was part of Roosevelt's New Deal domestic program. By the 1930s, the United States was the only modern industrial country without any national system of social security. In the midst of the Great Depression, the physician Francis Townsend galvanized support behind a proposal to issue direct payments to the elderly. Responding to that movement, Roosevelt organized a committee led by Secretary of Labor Frances Perkins to develop a major social welfare program proposal. Roosevelt presented the plan in early 1935 and signed the Social Security Act into law on August 14, 1935. The act was upheld by the Supreme Court in two major cases decided in 1937. The law established the Social Security program. The old-age program is funded by payroll taxes, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Wisconsin–Madison
A university () is an educational institution, institution of higher education, higher (or Tertiary education, tertiary) education and research which awards academic degrees in several Discipline (academia), academic disciplines. Universities typically offer both undergraduate education, undergraduate and postgraduate education, postgraduate programs. In the United States, the designation is reserved for colleges that have a graduate school. The word ''university'' is derived from the Latin ''universitas magistrorum et scholarium'', which roughly means "community of teachers and scholars". The first universities were created in Europe by Catholic Church monks. The University of Bologna (''Università di Bologna''), founded in 1088, is the first university in the sense of: *Being a high degree-awarding institute. *Having independence from the ecclesiastic schools, although conducted by both clergy and non-clergy. *Using the word ''universitas'' (which was coined at its foundation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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