Frank William Taussig (1859–1940) was an American

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

who is credited with creating the foundations of modern

trade theory International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

Early life

He was born on December 28, 1859, in

St. Louis St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which e ...

Missouri Missouri is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it is bordered by eight states (tied for the most with Tennessee ...

, the son of William Taussig and Adele Wuerpel. His parents encouraged his literary and musical interests, and he played the violin at an early age. He was educated in the St. Louis public schools and at Smith Academy in that same city. He then went to

Washington University in St. Louis Washington University in St. Louis (WashU or WUSTL) is a private research university with its main campus in St. Louis County, and Clayton, Missouri. Founded in 1853, the university is named after George Washington. Washington University is r ...

but, after a year transferred to

Harvard Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

from where he graduated in 1879. He traveled in Europe for a year, taking some time to study economics at the

University of Berlin Humboldt-Universität zu Berlin (german: Humboldt-Universität zu Berlin, abbreviated HU Berlin) is a German public research university in the central borough of Mitte in Berlin. It was established by Frederick William III on the initiative o ...

. He then did graduate work at Harvard in law and economics while he was secretary to President

Charles W. Eliot Charles William Eliot (March 20, 1834 – August 22, 1926) was an American academic who was president of Harvard University from 1869 to 1909the longest term of any Harvard president. A member of the prominent Eliot family of Boston, he transfo ...

for some years.

Teaching

He got a law degree in 1886 and was appointed assistant professor at Harvard. He became professor of economics in 1892, and he remained at Harvard for the balance of his professional career except for several years spent in federal service and some time spent traveling in Europe recovering from a nervous disorder.

Beliefs

Taussig was an open advocate of

forced sterilization Compulsory sterilization, also known as forced or coerced sterilization, is a government-mandated program to Involuntary treatment, involuntarily Sterilization (medicine), sterilize a specific group of people. Sterilization removes a person's ca ...

of races and classes he considered inferior. In his 1911 textbook ''Principles of Economics'', Taussing remarked:

Paul Douglas Paul Howard Douglas (March 26, 1892 – September 24, 1976) was an American politician and Georgist economist. A member of the Democratic Party, he served as a U.S. Senator from Illinois for eighteen years, from 1949 to 1967. During his Senat ...

(a future president of the American Economic Association and three-term Senator from Illinois) was a graduate student under Taussig at Harvard in the Fall of 1915 and recalled the experience. Douglas had studied two years in graduate school at Columbia University with

Edwin Seligman Edwin Robert Anderson Seligman (1861–1939), was an American economist who spent his entire academic career at Columbia University in New York City. Seligman is best remembered for his pioneering work involving taxation and public finance. His p ...

, who was an ideological enemy of Taussig. Given the opportunity to criticize the Columbia school of economic thought by confronting Douglas, Taussig attempted to humiliate him to the delight of the Harvard pupils who filled the lecture hall to witness the "slaughter". Eventually, Douglas turned the tables and trapped Taussig in a logical economic debate. Douglas recalled, "The following day, Taussig cordially shook hands with me at the end of the hour. ... We also became fast friends for the rest of his life. Trying as the experience was, it was the best thing to happen to me in my academic life. It forced me to master the reasoning of the great economic theorists and to stand my ground under verbal and logical bombardment."

Beet sugar and tariff

In a 1912 article in The ''

Quarterly Journal of Economics ''The Quarterly Journal of Economics'' is a peer-reviewed academic journal published by the Oxford University Press for the Harvard University Department of Economics. Its current editors-in-chief are Robert J. Barro, Lawrence F. Katz, Nathan N ...

'', Taussig favored protecting the

beet The beetroot is the taproot portion of a beet plant, usually known in North America as beets while the vegetable is referred to as beetroot in British English, and also known as the table beet, garden beet, red beet, dinner beet or golden beet ...

sugar industry The sugar industry subsumes the production, processing and marketing of sugars (mostly sucrose and fructose). Globally, most sugar is extracted from sugar cane (~80% predominantly in the tropics) and sugar beet (~ 20%, mostly in temperate cli ...

with a tariff on sugar imports. A beet sugar industry gives intangible benefits by adding to the versatility and capabilities of American agriculture. Unskilled labor gains employment in the labor-intensive beet sugar sector of agriculture. Beet sugar grows best in cool climates of the irrigated regions of Colorado, Utah, Idaho, Montana, and California.

Other positions held

He was the editor of the ''

'' from 1889 to 1890 and from 1896 to 1935, president of the

American Economic Association The American Economic Association (AEA) is a learned society in the field of economics. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members. History and Constitution The AEA was esta ...

in 1904 and 1905, and chair of the

United States Tariff Commission The United States International Trade Commission (USITC or I.T.C.) is an agency of the United States federal government that advises the legislative and executive branches on matters of trade. It is an independent, bipartisan entity that analyze ...

from 1917 to 1919. He was elected a Member of both the

American Academy of Arts and Sciences The American Academy of Arts and Sciences (abbreviation: AAA&S) is one of the oldest learned societies in the United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bowdoin, Andrew Oliver, and ...

and the

American Philosophical Society The American Philosophical Society (APS), founded in 1743 in Philadelphia, is a scholarly organization that promotes knowledge in the sciences and humanities through research, professional meetings, publications, library resources, and communit ...

. In March 1919, he was called to

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. S ...

to advise in the adjustment of commercial treaties, and in November, on invitation of

Woodrow Wilson Thomas Woodrow Wilson (December 28, 1856February 3, 1924) was an American politician and academic who served as the 28th president of the United States from 1913 to 1921. A member of the Democratic Party, Wilson served as the president of ...

, he attended the second industrial conference in

Washington, DC ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan ...

, for promoting peace between capital and labour. He was a strong supporter of the

League of Nations The League of Nations (french: link=no, Société des Nations ) was the first worldwide intergovernmental organisation whose principal mission was to maintain world peace. It was founded on 10 January 1920 by the Paris Peace Conference that ...

Death

He died on November 11, 1940, aged 80, in

Cambridge Cambridge ( ) is a university city and the county town in Cambridgeshire, England. It is located on the River Cam approximately north of London. As of the 2021 United Kingdom census, the population of Cambridge was 145,700. Cambridge bec ...

Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ...

. Taussig is buried in

Mount Auburn Cemetery Mount Auburn Cemetery is the first rural cemetery, rural, or garden, cemetery in the United States, located on the line between Cambridge, Massachusetts, Cambridge and Watertown, Massachusetts, Watertown in Middlesex County, Massachusetts, Middl ...

in Cambridge.

Legacy

The successor to his chair at Harvard was

Joseph Schumpeter Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian-born political economist. He served briefly as Finance Minister of German-Austria in 1919. In 1932, he emigrated to the United States to become a professor at Ha ...

. In 1888, he married Edith Thomas Guild. One of their four children was

Helen B. Taussig Helen Brooke Taussig (May 24, 1898 – May 20, 1986) was an American cardiologist, working in Baltimore and Boston, who founded the field of pediatric cardiology. She is credited with developing the concept for a procedure that would extend the l ...

(1898–1986), a noted pediatrician and cardiologist. F. W. Taussig's first wife died in 1910, and he married Laura Fisher.

Works

Much of Taussigs work is available from

Internet Archive The Internet Archive is an American digital library with the stated mission of "universal access to all knowledge". It provides free public access to collections of digitized materials, including websites, software applications/games, music, ...

: * 1883
Protection to Young Industries as Applied to the United States
(second edition, 1886) * 1885
History of the Present Tariff, 1860–83
* 1888
The Tariff History of the United States
eighth edition, 1931, * 1892
The Silver Situation in the United States
(second edition, revised, 1896) * 1896
Wages and Capital
* 1911, 1915, 192
Principles of Economics
volume 1
Volume 2
* 1918
Some Aspects of the Tariff Question
* 1915
Inventors and Money Makers

Brown University Brown University is a private research university in Providence, Rhode Island. Brown is the seventh-oldest institution of higher education in the United States, founded in 1764 as the College in the English Colony of Rhode Island and Providenc ...

lectures * 1920
Free Trade, the Tariff, and Reciprocity
* 1927
International Trade
* 1887–1935
Economic theory exam questions

References

Sources

Britannica Online

at th

* *

External links

* {{DEFAULTSORT:Taussig, Frank William 1859 births 1940 deaths American economics writers American eugenicists American male non-fiction writers American political writers American social scientists Harvard University faculty Writers from St. Louis Burials at Mount Auburn Cemetery International Trade Commission personnel Presidents of the American Economic Association Economists from Missouri Corresponding Fellows of the British Academy Washington University in St. Louis alumni Harvard College alumni Members of the American Philosophical Society