Economic Essays: Contributed in Honor of John Bates Clark (Classic Reprint) - Softcover

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Excerpt from Economic Essays: Contributed in Honor of John Bates Clark

More notable than these factors was the-return to the United States in the early eighties of a remarkable company of young scholars from post-graduate study in German universities. Their arrival and activity effected a virtual renascence in American economic thought. With others trained in this country lodgment was found in leading universities; student bodies gathered, and productive scholarship developed.

The dominant characteristics Of the group were an avowal Of the historical inductive method, and an electlon In the main of concrete problems for inquiry. At Harvard, Taussig traced the growth and influence of American protectionism; at Yale, Hadley concerned himself with railway transportation, and Farnam with social problems; at Columbia, Seligman studied the theory and practice of public finance and mayo-smith pursued statistical Inquiries; at Johns Hopkins, Ely made pioneer studies of local taxation and of the labor 'movement; at Pennsylvania, James studied municipal economics and at Michigan, H. C. Adams became identified with fiscal studies. A statement Of principles proposed and accepted in the formation Of the American Eco nomic Association at Saratoga in 1885 as a general indication of the views and the purposes of the founders contained the declaration: While we appreciate the work of former economists, we look not so much to speculation as to the historical and statistical study of actual conditions Of economic life for the further development of political economy.

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