Word: economist
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Dates: during 1910-1919
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...economist Dean Gay has a wide reputation. He graduated from the University of Michigan in 1892 and in 1902 he was honored by the degree of Ph.D. from the University of Berlin. In that year he was appointed instructor in economics in the University, assistant professor in 1906 and in 1908 was made dean of the Graduate School of Business Administration. He is a member of the Academy of Arts and Sciences...
...Economists are generally agreed that speculation normally performs some very vital functions. The economist does not defend monopolistic speculation--the effort to "corner" the market. Such efforts--more likely to be successful in the stock market than in the grain market, because the capital required to control a corporation is vastly less than that required to control the world's stock of a great staple grain--have been made, and have at times had demoralizing effects. When made, they should be punished mercilessly. It does not appear, however, that monopolistic combinations by speculators dealing in "futures" is the cause...
Dean Gay is the second University professor appointed to an economic board at Washington this year, the other being Professor F. W. Taussig '79, who is now serving as chairman of the Federal Tariff Commission in Washington. He has a wide reputation as an economist and since receiving his degree of A.B. from the University of Michigan in 1892 has been honored by that of Ph.D. from the University of Berlin in 1902. He was appointed instructor in economics in the University in 1902, assistant professor in 1906, and in 1908 was made dean of the Graduate School of Business...
Professor Sprague, of Harvard, a leading authority on finance and a practical economist, has stated recently that the war, instead of reducing by destruction the capital investment of the belligerent nations, has in a large measure actually increased it. He believes that outside of the actual war zone the great question after the war will be, What use can we make of this gigantic industrial machinery...
...Congress is not likely ever to abandon any part of its prerogatives in tariff making, but a body of advisers who have the general confidence of the country cannot fail to exert a powerful influence. Of the capacity of Professor Taussig there can be no question. No living American economist surpasses him in achievement or reputation. Doubtless those who like the old way of tariff-making--a compromise among selfish interests--would call him a "theorist." So he is; so any student of so intricate a subject must be. And his knowledge of theory qualifies him all the more...