Alfred Marshall, FBA was one of the most influential economists of his time. His book, Principles of Economics, was the dominant economic textbook in England for many years, it brings the ideas of supply and demand, marginal utility, costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. Although Marshall took economics to a more mathematically rigorous level, he did not want mathematics to overshadow economics and thus make economics irrelevant to the layman. Marshall was born in London, his father was devout Evangelical. Marshall grew up in Clapham and was educated at the Merchant Taylors' School and St John's College, where he demonstrated an aptitude in mathematics, achieving the rank of Second Wrangler in the 1865 Cambridge Mathematical Tripos. Marshall experienced a mental crisis that led him to switch to philosophy, he began with metaphysics "the philosophical foundation of knowledge in relation to theology.". Metaphysics led Marshall to ethics a Sidgwickian version of utilitarianism.
He saw that the duty of economics was to improve material conditions, but such improvement would occur, Marshall believed, only in connection with social and political forces. His interest in Georgism, socialism, trade unions, women's education and progress reflect the influence of his early social philosophy on his activities and writings. Marshall was elected in 1865 to a fellowship at St John's College at Cambridge, became lecturer in the moral sciences in 1868. In 1885 he became professor of political economy at Cambridge, where he remained until his retirement in 1908. Over the years he interacted with many British thinkers including Henry Sidgwick, W. K. Clifford, Benjamin Jowett, William Stanley Jevons, Francis Ysidro Edgeworth, John Neville Keynes and John Maynard Keynes. Marshall founded the "Cambridge School" which paid special attention to increasing returns, the theory of the firm, welfare economics. Marshall desired to improve the mathematical rigour of economics and transform it into a more scientific profession.
In the 1870s he wrote a small number of tracts on international trade and the problems of protectionism. In 1879, many of these works were compiled into a work entitled The Theory of Foreign Trade: The Pure Theory of Domestic Values. In the same year he published The Economics of Industry with his wife Mary Paley. Although Marshall took economics to a more mathematically rigorous level, he did not want mathematics to overshadow economics and thus make economics irrelevant to the layman. Accordingly, Marshall tailored the text of his books to laymen and put the mathematical content in the footnotes and appendices for the professionals. In a letter to A. L. Bowley, he laid out the following system: Use mathematics as shorthand language, rather than as an engine of inquiry. Keep to them till you have done. Translate into English. Illustrate by examples that are important in real life Burn the mathematics. If you can't succeed in 4, burn 3; this I do often." Marshall had been Mary Paley's professor of political economy at Cambridge and the two were married in 1877, forcing Marshall to leave his position as a Fellow of St John's College, Cambridge to comply with celibacy rules at the university.
He became the first principal at University College, the institution that became the University of Bristol, again lecturing on political economy and economics. He perfected his Economics of Industry while at Bristol, published it more in England as an economic curriculum. Marshall achieved a measure of fame from this work, upon the death of William Jevons in 1882, Marshall became the leading British economist of the scientific school of his time. Marshall returned to Cambridge, via a brief period at Balliol College, Oxford during 1883–4, to take the seat as Professor of Political Economy in 1884 on the death of Henry Fawcett. At Cambridge he endeavoured to create a new tripos for economics, a goal which he would only achieve in 1903; until that time, economics was taught under the Historical and Moral Sciences Triposes which failed to provide Marshall the kind of energetic and specialised students he desired. Marshall began his economic work, the Principles of Economics, in 1881, spent much of the next decade at work on the treatise.
His plan for the work extended to a two-volume compilation on the whole of economic thought. The first volume was published in 1890 to worldwide acclaim, establishing him as one of the leading economists of his time; the second volume, to address foreign trade, trade fluctuations and collectivism, was never published. Principles of Economics established his worldwide reputation, it appeared in 8 editions, growing to 870 pages. It decisively shaped the teaching of economics in English-speaking countries, its main technical contribution was a masterful analysis of the issues of elasticity, consumer surplus and diminishing returns and long terms, marginal utility. Many of the ideas were original with Marshall. In a broader sense Marshall hoped to reconcile the modern theories of value. John Stuart Mill had examined the relationship between the value of commodities and their production costs, on t
JSTOR is a digital library founded in 1995. Containing digitized back issues of academic journals, it now includes books and other primary sources, current issues of journals, it provides full-text searches of 2,000 journals. As of 2013, more than 8,000 institutions in more than 160 countries had access to JSTOR. JSTOR's revenue was $86 million in 2015. William G. Bowen, president of Princeton University from 1972 to 1988, founded JSTOR in 1995. JSTOR was conceived as a solution to one of the problems faced by libraries research and university libraries, due to the increasing number of academic journals in existence. Most libraries found it prohibitively expensive in terms of cost and space to maintain a comprehensive collection of journals. By digitizing many journal titles, JSTOR allowed libraries to outsource the storage of journals with the confidence that they would remain available long-term. Online access and full-text search ability improved access dramatically. Bowen considered using CD-ROMs for distribution.
However, Ira Fuchs, Princeton University's vice-president for Computing and Information Technology, convinced Bowen that CD-ROM was becoming an outdated technology and that network distribution could eliminate redundancy and increase accessibility. JSTOR was initiated in 1995 at seven different library sites, encompassed ten economics and history journals. JSTOR access improved based on feedback from its initial sites, it became a searchable index accessible from any ordinary web browser. Special software was put in place to make graphs clear and readable. With the success of this limited project and Kevin Guthrie, then-president of JSTOR, wanted to expand the number of participating journals, they met with representatives of the Royal Society of London and an agreement was made to digitize the Philosophical Transactions of the Royal Society dating from its beginning in 1665. The work of adding these volumes to JSTOR was completed by December 2000; the Andrew W. Mellon Foundation funded JSTOR initially.
Until January 2009 JSTOR operated as an independent, self-sustaining nonprofit organization with offices in New York City and in Ann Arbor, Michigan. JSTOR merged with the nonprofit Ithaka Harbors, Inc.—a nonprofit organization founded in 2003 and "dedicated to helping the academic community take full advantage of advancing information and networking technologies". JSTOR content is provided by more than 900 publishers; the database contains more than 1,900 journal titles, in more than 50 disciplines. Each object is uniquely identified by an integer value, starting at 1. In addition to the main site, the JSTOR labs group operates an open service that allows access to the contents of the archives for the purposes of corpus analysis at its Data for Research service; this site offers a search facility with graphical indication of the article coverage and loose integration into the main JSTOR site. Users may create focused sets of articles and request a dataset containing word and n-gram frequencies and basic metadata.
They may download it in either XML or CSV formats. The service does not offer full-text, although academics may request that from JSTOR, subject to a non-disclosure agreement. JSTOR Plant Science is available in addition to the main site. JSTOR Plant Science provides access to content such as plant type specimens, taxonomic structures, scientific literature, related materials and aimed at those researching, teaching, or studying botany, ecology and conservation studies; the materials on JSTOR Plant Science are contributed through the Global Plants Initiative and are accessible only to JSTOR and GPI members. Two partner networks are contributing to this: the African Plants Initiative, which focuses on plants from Africa, the Latin American Plants Initiative, which contributes plants from Latin America. JSTOR launched its Books at JSTOR program in November 2012, adding 15,000 current and backlist books to its site; the books are linked from citations in journal articles. In September 2014, JSTOR launched JSTOR Daily, an online magazine meant to bring academic research to a broader audience.
Posted articles are based on JSTOR entries, some entries provide the backstory to current events. JSTOR is licensed to academic institutions, public libraries, research institutions and schools. More than 7,000 institutions in more than 150 countries have access. JSTOR has been running a pilot program of allowing subscribing institutions to provide access to their alumni, in addition to current students and staff; the Alumni Access Program launched in January 2013. Individual subscriptions are available to certain journal titles through the journal publisher; every year, JSTOR blocks 150 million attempts by non-subscribers to read articles. Inquiries have been made about the possibility of making JSTOR open access. According to Harvard Law professor Lawrence Lessig, JSTOR had been asked "how much would it cost to make this available to the whole world, how much would we need to pay you? The answer was $250 million". In late 2010 and early 2011, Internet activist Aaron Swartz used MIT's data network to bulk-download a substantial portion of JSTOR's collection of academic journal articles.
Find a Grave
Find A Grave is a website that allows the public to search and add to an online database of cemetery records. It is owned by Ancestry.com. It receives and uploads digital photographs of headstones from burial sites, taken by unpaid volunteers at cemeteries. Find A Grave posts the photo on its website; the site was created in 1995 by Salt Lake City resident Jim Tipton to support his hobby of visiting the burial sites of famous celebrities. He added an online forum. Find A Grave was launched as a commercial entity in 1998, first as a trade name and incorporated in 2000; the site expanded to include graves of non-celebrities, in order to allow online visitors to pay respect to their deceased relatives or friends. In 2013, Tipton sold Find A Grave to Ancestry.com, saying that the genealogy company had "been linking and driving traffic to the site for several years. Burial information is a wonderful source for people researching their family history." In a September 30, 2013, press release, Ancestry.com officials said they would "launch a new mobile app, improve customer support, introduce an enhanced edit system for submitting updates to memorials, foreign-language support, other site improvements."As of October 2017, Find A Grave contained over 165 million burial records and 75 million photos.
In March 2017, a beta website for a redesigned Find A Grave was launched at gravestage.com. Public feedback was mixed. Sometime between May 29 and July 10 of that year, the beta website was migrated to new.findagrave.com, a new front end for it was deployed at beta.findagrave.com. In November 2017, the new site became the old site was deprecated. On August 20, 2018, the original Find; the website contains listings of graves from around the world. American cemeteries are organized by state and county, many cemetery records contain Google Maps and photographs of the cemeteries and gravesites. Individual grave records may contain dates and places of birth and death, biographical information and plot information and contributor information. Interment listings are added by individuals, genealogical societies, other institutions such as the International Wargraves Photography Project. Contributors must register as members to submit listings, called memorials, on the site; the submitter may transfer management.
Only the current manager of a listing may edit it, although any member may use the site's features to send correction requests to the listing's manager. Managers may add links to other listings of deceased spouses and siblings for genealogical purposes. Any member may add photographs and notations to individual listings. Members may post requests for photos of a specific grave. Although it does not ask permission from immediate family members before uploading the photos, it will remove and take down photos or a URL for a deceased loved one at the request of an immediate family member. Find A Grave maintains lists of memorials of famous persons by their "claim to fame", such as Medal of Honor recipients, religious figures, educators. Find A Grave exercises editorial control over these listings. Canadian Headstones Interment.net United States National Cemetery System's nationwide gravesite locator Random Acts of Genealogical Kindness Tombstone tourist Official website
Marie-Esprit-Léon Walras was a French mathematical economist and Georgist. He formulated the marginal theory of value and pioneered the development of general equilibrium theory. Walras was the son of a French school administrator Auguste Walras, his father was not a professional economist, yet his economic thinking had a profound effect on his son. He found the value of goods by setting their scarcity relative to human wants. Walras grew tired of engineering, he worked as a bank manager, romantic novelist and railway clerk before turning to economics. Walras received an appointment as the professor of political economy at the University of Lausanne. Walras inherited his father's interest in social reform. Much like the Fabians, Walras called for the nationalization of land, believing that land's productivity would always increase and that rents from that land would be sufficient to support the nation without taxes, he asserts that all other taxes realize effects identical to a consumption tax, so they can hurt the economy.
Another of Walras's influences was a former schoolmate of his father. Through Cournot, Walras came under the influence of French rationalism and was introduced to the use of mathematics in economics; as Professor of Political Economy at the University of Lausanne, Walras is credited with founding, under the direction of economist and sociologist Vilfredo Pareto, the Lausanne school of economics. Because most of Walras's publications were only available in French, many economists were unfamiliar with his work; this changed in 1954 with the publication of William Jaffé's English translation of Walras's Éléments d'économie politique pure. Walras's work was too mathematically complex for many contemporary readers of his time. On the other hand, it has a great insight into the market process under idealized conditions so it has been far more read in the modern era. Although Walras came to be regarded as one of the three leaders of the marginalist revolution, he was not familiar with the two other leading figures of marginalism, William Stanley Jevons and Carl Menger, developed his theories independently.
Elements has Walras disagreeing with Jevons on the applicability, while the findings adopted by Carl Menger, he says, are in alignment with the ideas present in the book. In 1874 and 1877 Walras published Éléments d'économie politique pure, in English, Elements of Pure Economics, trans. William Jaffé; that work. The problem that Walras set out to solve was one presented by A. A. Cournot, that though it could be demonstrated that prices would equate supply and demand to clear individual markets, it was unclear that an equilibrium existed for all markets simultaneously. Walras's law implies that the sum of the values of excess demands across all markets must equal zero, whether or not the economy is in a general equilibrium; this implies that if positive excess demand exists in one market, negative excess demand must exist in some other market. Thus, if all markets but one are in equilibrium that last market must be in equilibrium. Walras constructed his basic theory of general equilibrium by beginning with simple equations and increasing the complexity in the next equations.
He began with a two-person bartering system moved on to the derivation of downward-sloping consumer demands. Next he moved on to exchanges involving multiple parties, ended with credit and money. Walras wrote down four sets of equations—one representing the quantity of goods demanded, one relating the prices of goods to their costs of production, one for the quantities of inputs supplied, one showing the quantities of inputs demanded. There are four sets of variables to solve for, the price of each good, the quantity of each good sold, the price of each factor of production, the quantity of each of those factor bought by businesses. To simplify matters, Walras added one further equation to his model, requiring that all the money received must be spent, one way or the other, but there are now more equations than unknowns. From the theory of equations, one learns that a necessary but insufficient condition for the existence of a unique solution to a system of equations is that the number of equations must equal the number of variables.
Walras tackled this problem by selecting an arbitrary good, G1, whose price is designated as the standard against which the prices of the other goods shall be compared. The system of equations can now be solved for the prices of all goods in terms of G1, though not for the absolute price levels; the crucial step in the argument was Walras's law which states that any particular market must be in equilibrium, if all other markets in an economy are in equilibrium. Walras's law hinges on the mathematical notion; this means that, in an economy with n markets, it is sufficient to solve n-1 simultaneous equations for market clearing. Taking one good as the numéraire in terms of which prices are specified, the economy has n-1 prices that can be determined by the equation, so an equilibrium should exist. Although Walras set out the framework for thinking about the existence of equilibrium and his attempt to demonstrate existence by counting the number of equations and variables was flawed: it is easy to see that not all pairs of equations in two variables have solutions
Carleton College is a private liberal arts college in Northfield, Minnesota. Founded in 1866, the college enrolled 2,105 undergraduate students and employed 269 faculty members in fall 2016; the 200-acre main campus is located between Northfield and the 800-acre Cowling Arboretum, which became part of the campus in the 1920s. In its 2019 edition of national liberal arts college rankings, U. S. News & World Report ranked Carleton fifth-best first for undergraduate teaching. From 2000 through 2016, the institution has produced 122 National Science Graduate Fellows, 112 Fulbright Scholars, 22 Watson Fellows, 20 NCAA Postgraduate Scholars, 13 Goldwater Scholars, 2 Rhodes Scholars. Carleton is one of the largest sources of undergraduate students pursuing doctorates per one hundred students for bachelors institutions; the school was founded in 1866, when the Minnesota Conference of Congregational Churches unanimously accepted a resolution to locate a college in Northfield. Two Northfield businessmen, Charles Augustus Wheaton and Charles Moorehouse Goodsell, each donated 10 acres of land for the first campus.
The first students enrolled at the preparatory unit of Northfield College in the fall of 1867. In 1870, the first college president, James Strong, traveled to the East Coast to raise funds for the college. On his way from visiting a potential donor, William Carleton of Charlestown, Strong was badly injured in a collision between his carriage and a train. Impressed by Strong's survival of the accident, Carleton donated $50,000 to the fledgling institution in 1871; as a result, the Board of Trustees renamed the school in his honor. The college graduated its first college class in 1874, James J. Dow and Myra A. Brown, who married each other that year. On September 7, 1876, the James-Younger Gang, led by outlaw Jesse James, tried to rob the First National Bank of Northfield. Joseph Lee Heywood, Carleton's Treasurer, was acting cashier at the bank that day, he was killed for refusing to open the safe. Carleton named a library fund after Heywood; the Heywood Society is the name for a group of donors. In its early years under the presidency of James Strong, Carleton reflected the theological conservatism of its Minnesota Congregational founders.
In 1903, modern religious influences were introduced by William Sallmon, a Yale Divinity School graduate, hired as college president. Sallmon was opposed by conservative faculty members and alumni, left the presidency by 1908. After Sallmon left, the trustees hired Donald J. Cowling, another theologically liberal Yale Divinity School graduate, as his successor. In 1916, under Cowling's leadership, Carleton began an official affiliation with the Minnesota Baptist Convention, it lasted until 1928, when the Baptists severed the relationship as a result of fundamentalist opposition to Carleton's liberalism, including the college's support for teaching evolution. Non-denominational for a number of years, in 1964 Carleton abolished its requirement for weekly attendance at some religious or spiritual meeting. In 1927, students founded the first student-run pub in The Cave. Located in the basement of Evans Hall, it continues to host live music shows and other events several times each week. In 1942, Carleton purchased land in Stanton, about 10 miles east of campus, to use for flight training.
During World War II, several classes of male students went through air basic training at the college. Since being sold by the college in 1944, the Stanton Airfield has been operated for commercial use; the world premiere production of the English translation of Bertolt Brecht's play, The Caucasian Chalk Circle, was performed in 1948 at Carleton's Nourse Little Theater. In 1963 the Reformed Druids of North America was founded by students at Carleton as a means to be excused from attendance of then-mandatory weekly chapel service. Within a few years, the group evolved to engage in legitimate spiritual exploration. Meetings continue to be held in the Carleton College Cowling Arboretum. President Bill Clinton gave the last commencement address of his administration at Carleton, on June 10, 2000, marking the first presidential visit to the college. Carleton is a small, liberal arts college offering 33 different majors and 31 minors, is accredited by the Higher Learning Commission. Students have the option to design their own major.
There are ten languages offered: Spanish, German, Japanese, Arabic, Latin and Hebrew. The academic calendar follows a trimester system where students take three classes per 10-week term. In order to graduate with a degree from Carleton, students must take an Argument & Inquiry Seminar in their first year, a writing course, three quantitative reasoning encounters, international studies, intercultural domestic studies, humanistic inquiry, literary/artistic analysis, arts practice, formal or statistical reasoning, social inquiry, physical education; the average class size at Carleton is 16. 48% have 10–19 students, 24% of all classes have 2–9 students, 21% have 20–29 students, 5% have 30 or more students. The most popular areas of study are biology, political science and international relations, chemistry, psychology and computer science. Carleton is one of the few liberal arts colleges. Studying abroad is common at Carleton: 76% of the senior class of 2018 studied abroad at least once over their four years.
Carleton offers a number of its own programs each year, which are led by Carleton faculty and available only to Carleton students. In 2017-2018 there were 17 of such programs offered. Although m
Henry George was an American political economist and journalist. His writing was immensely popular in the 19th century, sparked several reform movements of the Progressive Era, his writings inspired the economic philosophy known as Georgism, based on the belief that people should own the value they produce themselves, but that the economic value derived from land should belong to all members of society. His most famous work and Poverty, sold millions of copies worldwide more than any other American book before that time; the treatise investigates the paradox of increasing inequality and poverty amid economic and technological progress, the cyclic nature of industrialized economies, the use of rent capture such as land value tax and other anti-monopoly reforms as a remedy for these and other social problems. The mid-twentieth century labor economist and journalist George Soule wrote that George was "By far the most famous American economic writer," and "author of a book which had a larger world-wide circulation than any other work on economics written."
George was born in Philadelphia to a lower-middle-class family, the second of ten children of Richard S. H. George and Catharine Pratt George, his father was a publisher of religious texts and a devout Episcopalian, sent George to the Episcopal Academy in Philadelphia. George left the academy without graduating. Instead he convinced his father to hire a tutor and supplemented this with avid reading and attending lectures at the Franklin institute, his formal education ended at age 14 and he went to sea as a foremast boy at age 15 in April 1855 on the Hindoo, bound for Melbourne and Calcutta. He ended up in the American West in 1858 and considered prospecting for gold but instead started work the same year in San Francisco as a type setter. In California, George fell in love with Annie Corsina Fox, an eighteen-year-old girl from Sydney, orphaned and was living with an uncle; the uncle, a prosperous, strong-minded man, was opposed to his niece's impoverished suitor. But the couple, defying him and married in late 1861, with Henry dressed in a borrowed suit and Annie bringing only a packet of books.
The marriage was a happy four children were born to them. On November 3, 1862 Annie gave birth to future United States Representative from New York, Henry George Jr.. Early on with the birth of future sculptor Richard F. George, the family was near starvation. George was raised as an Episcopalian, but he believed in "deistic humanitarianism". Fox was Irish Catholic, but Henry George Jr. wrote that the children were influenced by Henry George's deism and humanism. After deciding against gold mining in British Columbia, George was hired as a printer for the newly created San Francisco Times, was able to submit editorials for publication, including the popular What the Railroads Will Bring Us. which remained required reading in California schools for decades. George climbed the ranks of the Times becoming managing editor in the summer of 1867. George worked for several papers, including four years as editor of his own newspaper San Francisco Daily Evening Post and for a time running the Reporter, a Democratic anti-monopoly publication.
The George family struggled but George's increasing reputation and involvement in the newspaper industry lifted them from poverty. George's other two children were both daughters; the first was Jennie George to become Jennie George Atkinson. George's other daughter was Anna Angela George, who would become mother of both future dancer and choreographer, Agnes de Mille and future actress Peggy George, born Margaret George de Mille. George began as a Lincoln Republican, but became a Democrat, he was a strong critic of railroad and mining interests, corrupt politicians, land speculators, labor contractors. He first articulated his views in an 1868 article entitled "What the Railroad Will Bring Us." George argued that the boom in railroad construction would benefit only the lucky few who owned interests in the railroads and other related enterprises, while throwing the greater part of the population into abject poverty. This had led to him earning the enmity of the Central Pacific Railroad's executives, who helped defeat his bid for election to the California State Assembly.
One day in 1871 George went for a horseback ride and stopped to rest while overlooking San Francisco Bay. He wrote of the revelation that he had: I asked a passing teamster, for want of something better to say, what land was worth there, he pointed to some cows grazing so far off that they looked like mice, said, "I don't know but there is a man over there who will sell some land for a thousand dollars an acre." Like a flash it came over me. With the growth of population, land grows in value, the men who work it must pay more for the privilege. Furthermore, on a visit to New York City, he was struck by the apparent paradox that the poor in that long-established city were much worse off than the poor in less developed California; these observations supplied the theme and title for his 1879 book Progress and Poverty, a great success, selling over 3 million copies. In it George made the argument that a sizeable portion of the wealth created by social and technological advances in a free market economy is possessed by land owners and monopolists via economic rents, that this concentration of unearned wealth is the main cause of poverty.
George considered it a great injustice that private pr