University of Michigan
The University of Michigan simply referred to as Michigan, is a public research university in Ann Arbor, Michigan. The university is Michigan's oldest; the school was moved to Ann Arbor in 1837 onto 40 acres of. Since its establishment in Ann Arbor, the university campus has expanded to include more than 584 major buildings with a combined area of more than 34 million gross square feet spread out over a Central Campus and North Campus, two regional campuses in Flint and Dearborn, a Center in Detroit; the university is a founding member of the Association of American Universities. Considered one of the foremost research universities in the United States with annual research expenditures approaching $1.5 billion, Michigan is classified as one of 115 Doctoral Universities with Very High Research by the Carnegie Classification of Institutions of Higher Education. As of October 2018, 50 MacArthur Fellows, 25 Nobel Prize winners, 6 Turing Award winners and 1 Fields Medalist have been affiliated with University of Michigan.
Its comprehensive graduate program offers doctoral degrees in the humanities, social sciences, STEM fields as well as professional degrees in architecture, medicine, pharmacy, social work, public health, dentistry. Michigan's body of living alumni comprises more than 540,000 people, one of the largest alumni bases of any university in the world. Michigan's athletic teams compete in Division I of the NCAA and are collectively known as the Wolverines, they are members of the Big Ten Conference. More than 250 Michigan athletes or coaches have participated in Olympic events, winning more than 150 medals; the University of Michigan was established in Detroit on August 26, 1817 as the Catholepistemiad, or University of Michigania, by the governor and judges of Michigan Territory. Judge Augustus B. Woodward invited The Rev. John Monteith and Father Gabriel Richard, a Catholic priest, to establish the institution. Monteith became its first president and held seven of the professorships, Richard was vice president and held the other six professorships.
Concurrently, Ann Arbor had set aside 40 acres in the hopes of being selected as the state capital. But when Lansing was chosen as the state capital, the city offered the land for a university. What would become the university moved to Ann Arbor in 1837 thanks to Governor Stevens T. Mason; the original 40 acres was the basis of the present Central Campus. This land was once inhabited by the Ojibwe and Bodewadimi Native tribes and was obtained through the Treaty of Fort Meigs. In 1821, the university was renamed the University of Michigan; the first classes in Ann Arbor were held in 1841, with six freshmen and a sophomore, taught by two professors. Eleven students graduated in the first commencement in 1845. By 1866, enrollment had increased to 1,205 students. Women were first admitted in 1870, although Alice Robinson Boise Wood had become the first woman to attend classes in 1866-7. James Burrill Angell, who served as the university's president from 1871 to 1909, aggressively expanded U-M's curriculum to include professional studies in dentistry, engineering and medicine.
U-M became the first American university to use the seminar method of study. Among the early students in the School of Medicine was Jose Celso Barbosa, who in 1880 graduated as valedictorian and the first Puerto Rican to get a university degree in the United States, he returned to Puerto Rico to practice medicine and served in high-ranking posts in the government. From 1900 to 1920, the university constructed many new facilities, including buildings for the dental and pharmacy programs, natural sciences, Hill Auditorium, large hospital and library complexes, two residence halls. In 1920 the university reorganized the College of Engineering and formed an advisory committee of 100 industrialists to guide academic research initiatives; the university became a favored choice for bright Jewish students from New York in the 1920s and 1930s, when the Ivy League schools had quotas restricting the number of Jews to be admitted. Because of its high standards, U-M gained the nickname "Harvard of the West."
During World War II, U-M's research supported military efforts, such as U. S. Navy projects in proximity fuzes, PT boats, radar jamming. After the war, enrollment expanded and by 1950, it reached 21,000, of which more than one third were veterans supported by the G. I. Bill; as the Cold War and the Space Race took hold, U-M received numerous government grants for strategic research and helped to develop peacetime uses for nuclear energy. Much of that work, as well as research into alternative energy sources, is pursued via the Memorial Phoenix Project. In the 1960 Presidential campaign, U. S. Senator John F. Kennedy jokingly referred to himself as "a graduate of the Michigan of the East, Harvard University" in his speech proposing the formation of the Peace Corps speaking to a crowd from the front steps of the Michigan Union. Lyndon B. Johnson gave his speech outlining his Great Society program as the lead speaker during U-M's 1964 spring commencement ceremony. During the 1960s, the university campus was the site of numerous protests against the Vietnam War and university administration.
On March 24, 1965, a group of U-M faculty members and 3,000 students held the nation's first faculty-led "teach-in" to protest against American policy in
Harold Demsetz was an American professor of economics at the University of California at Los Angeles. Demsetz grew up on the West Side of Chicago, the grandchild of Jewish immigrants from central and eastern Europe, he studied engineering and philosophy at four universities before being awarded a B. A. in economics from the University of Illinois, an MBA and a Ph. D. from Northwestern University. While a graduate student, he published an article each in Econometrica and the Journal of Political Economy. Demsetz taught at the University of Michigan, UCLA, 1960–63, the Graduate School of Business at the University of Chicago, 1963–71. In 1971, he returned permanently to UCLA's Economics Department, which he chaired 1978–80, he held the Arthur Andersen UCLA Alumni Chair in Business Economics, 1986–95. He has been affiliated with the Center for the Hoover Institution. Demsetz was a fellow of the American Academy of Arts and Sciences, a director of the Mont Pelerin Society, a past president of the Western Economics Association.
Demsetz belonged to the Chicago school of economic theory, was one of the pioneers of the approach now called New Institutional Economics. He is a founder of the field of managerial economics, he has expanded the theory of property rights now prevalent in law and economics. Though Demsetz never employed game theory, he is a major figure in industrial organization through his writings on the theory of the firm, antitrust policy, business regulation, his expository style is devoid of mathematical formalism to an extent unusual for someone who began his career after 1950. His principal influences include Frank Knight and a number of colleagues: Armen Alchian, Ronald Coase, Aaron Director, George Stigler. Demsetz coined the term "nirvana fallacy" in 1969; the 1972 Demsetz and Armen Alchian article Production, Information Costs and Economic Organization was selected as one of the twenty most important articles published in the first century of the American Economic Review. 1967, "Toward a Theory of Property Rights," American Economic Review.
1968, "Why Regulate Utilities?" Journal of Law and Economics. 1969, "Information and Efficiency: Another Viewpoint," Journal of Law and Economics. 1972, 1979, "Accounting for Advertising as a Barrier to Entry," Journal of Business. 1982, Economic and Political Dimensions of Competition. 1988, The Organization of Economic Activity, 2 vols. Blackwell. Reprints most of Demsetz's better known journal articles published as of date. 1994. Anti-trust Economics: New Challenges for Competition Policy. 1995, The Economics of the Business Firm: Seven Critical Commentaries. 1997, "The Primacy of Economics: An Explanation of the Comparative Success of Economics in the Social Sciences", Economic Inquiry. 2011, "From Economic Man to Economic System: Essays on Human Behavior and the Institutions of Capitalism" Brief biography of Demsetz on the web site of UCLA's Economics Department
Albert O. Hirschman
Albert Otto Hirschman was an influential economist and the author of several books on political economy and political ideology. His first major contribution was in the area of development economics. Here he emphasized the need for unbalanced growth; because developing countries are short of decision making skills, he argued that disequilibria should be encouraged to stimulate growth and help mobilize resources. Key to this was encouraging industries with a large number of linkages to other firms, his work was in political economy and there he advanced two simple but intellectually powerful schemata. The first describes the three basic possible responses to decline in firms or polities in Exit and Loyalty; the second describes the basic arguments made by conservatives in The Rhetoric of Reaction. In World War II, he played a key role in rescuing refugees in occupied France. Otto Albert Hirschmann was born in Berlin, the son of Carl and Hedwig Marcuse Hirschmann, brother of Ursula Hirschmann. After he had started studying in 1932 at Friedrich-Wilhelms-Universität, he was educated at the Sorbonne, the London School of Economics and the University of Trieste, from which he received his doctorate in economics in 1938.
Soon thereafter, Hirschman volunteered to fight on behalf of the Spanish Republic in the Spanish Civil War. After France surrendered to the Nazis, he worked with Varian Fry to help many of Europe's leading artists and intellectuals to escape to the United States. A Rockefeller Fellow at the University of California, Berkeley, he served in the United States Army where he worked in the Office of Strategic Services, was appointed Chief of the Western European and British Commonwealth Section of the Federal Reserve Board, served as a financial advisor to the National Planning Board of Colombia and became a private economic counselor in Bogotá. Following that he held a succession of academic appointments in economics at Yale University, Columbia University, Harvard University and the Institute for Advanced Study. Hirschman helped develop the hiding hand principle in his 1967 essay'The principle of the hiding hand'. In 2001, Hirschman was named among the top 100 American intellectuals, as measured by academic citations, in Richard Posner's book, Public Intellectuals: A Study of Decline.
In 2003, he won the Benjamin E. Lippincott Award from the American Political Science Association to recognize a work of exceptional quality by a living political theorist for his book The Passions and the Interests: Political Arguments for Capitalism before Its Triumph. In 2007, the Social Science Research Council established an annual prize in honor of Hirschman, he died at the age of 97 on December 10, 2012, some months after the passing of his wife of over seventy years, Sarah Hirschman. This is a history of the ideas laying the intellectual groundwork for capitalism. Hirschman describes how thinkers in the seventeenth and eighteenth centuries embraced the sin of avarice as an important counterweight to humankind's destructive passions. Capitalism was promoted by thinkers including Montesquieu, Sir James Steuart, Adam Smith as repressing the passions for "harmless" commercial activities. Hirschman noted that words including "vice" and "passion" gave way to "such bland terms" as "advantage" and "interest."
Hirschman described the Interests as the book he most enjoyed writing. According to Hirschman biographer Jeremy Adelman, the book reflected Hirschman's political moderation, a challenge to reductive accounts of human nature by economists as a "utility-maximizing machine" as well as Marxian or communitarian "nostalgia for a world, lost to consumer avarice." In 1945, Hirschman proposed a market concentration index, the square root of the sum of the squares of the market share of each participant in the market. Orris C. Herfindahl proposed a similar index in 1950 unaware of the prior work. Thus, it is referred to as the Herfindahl-Hirschman index. 1945. National Power and the Structure of Foreign Trade 1980 expanded ed. Berkeley: University of California Press 1955. Colombia. Bogotá: Banco de la Republica Press. 1958. The Strategy of Economic Development. New Haven, Conn.: Yale University Press. ISBN 0-300-00559-8 1961. Latin American issues. 1963. Journeys toward Progress: studies of economic policy-making in Latin America.
New York: Twentieth Century Fund 1967. Development Projects Observed. Washington, D. C.: The Brookings Institution. ISBN 0-815-73651-7. 1970. Exit and Loyalty: Responses to Decline in Firms and States. Cambridge, Massachusetts: Harvard University Press. ISBN 0-674-27660-4. 1971. A bias for hope: essays on development and Latin America. New Haven: Yale University Press. 1977. The Passions and the Interests: Political Arguments For Capitalism Before Its Triumph. Princeton, NJ: Princeton University Press. ISBN 0-691-01598-8. 1980. National power and the structure of foreign trade. Berkeley: University of California Press. 1981. Essays in trespassing: economics to politics and beyond. Cambridge. 1982. Shifting involvements: private interest and public action. Princeton, N. J.: Princeton University Press. 1984. Getting ahead collectively: grassroots experiences in Latin America (with photographs by Mitch
Karl Gunnar Myrdal was a Swedish economist and sociologist. In 1974, he received the Nobel Memorial Prize in Economic Sciences with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic and institutional phenomena." He is best known in the United States for his study of race relations, which culminated in his book An American Dilemma: The Negro Problem and Modern Democracy. The study was influential in the 1954 landmark U. S. Supreme Court Decision Brown v. Board of Education. In Sweden his work and political influence were important to the establishment of the Folkhemmet and the welfare state. Myrdal was born on 6 December 1898 in Skattungbyn, Sweden, to Karl Adolf Pettersson, a railroad employee, his wife Anna Sofia Karlsson, he took the name Myrdal in 1914 after his ancestors' farm Myr in Dalarna. There is a apocryphal story about an interaction between him and Gustav Cassel, where Cassel was reported to say, "Gunnar, you should be more respectful to your elders, because it is we who will determine your promotion," and he replied, "Yes, but it is we who will write your obituaries."Gunnar Myrdal graduated with a law degree from Stockholm University in 1923 and a doctorate in economics in 1927.
In 1919, he met Alva Reimer, whom he married in 1924. In Gunnar Myrdal's doctoral dissertation, published in 1927, he examined the role of expectations in price formation, his analysis influenced the Stockholm school. He built on Knut Wicksell's theories of cumulative process of endogenous money, stressing the importance of Knightian uncertainty and Ex ante and Ex post expectations role in the economic process. Between 1925 and 1929 he studied in Germany, he was a Rockefeller Fellow and visited the United States in 1929–1930. During this period he published his first books, including The Political Element in the Development of Economic Theory. Returning to Europe, he served for one year as associate professor in the Graduate Institute of International Studies, Switzerland. Gunnar Myrdal was at first fascinated by the abstract mathematical models coming into fashion in the 1920s, helped found the Econometric Society in London. However, he accused the movement of ignoring the problem of distribution of wealth in its obsession with economic growth, of using faulty statistics and substituting Greek letters for missing data in its formulas and of flouting logic.
He wrote, "Correlations are not explanations and besides, they can be as spurious as the high correlation in Finland between foxes killed and divorces." Professor Myrdal was an early supporter of the theses of John Maynard Keynes, although he maintained that the basic idea of adjusting national budgets to slow or speed an economy was first developed by him and articulated in his book Monetary Economics, published in 1932, four years prior to Keynes' General Theory of Employment and Money. William Barber’s comment upon Myrdal’s work on monetary theory goes like this: If his contribution had been available to readers of English before 1936, it is interesting to speculate whether the ‘revolution’ in macroeconomic theory of the depression decade would be referred to as'Myrdalian' as much as'Keynesian'. Economist G. L. S. Shackle claimed the importance of Gunnar Myrdal's analysis by which saving and investment are allowed to adjust ex ante to each other. However, the reference to ex ante and ex post analysis has become so usual in modern macroeconomics that the position of Keynes to not include it in his work was considered as an oddity, if not a mistake.
As Shackle put it: Myrdalian ex ante language would have saved the General Theory from describing the flow of investment and the flow of saving as identically, tautologically equal, within the same discourse, treating their equality as a condition which may, or not, be fulfilled. Gunnar Myrdal developed the key concept circular cumulative causation, a multi-causal approach where the core variables and their linkages are delineated. Gunnar Myrdal became professor at Stockholms Högskola 1933. Myrdal was professor of economics at Stockholms Högskola for 15 years, until 1947, he became a Social Democratic Member of Parliament from 1933 and from 1945 to 1947 he served as Trade Minister in Tage Erlander's government. During this period he was criticised for his financial agreement with the Soviet Union. At the same time he was accused of being responsible for the Swedish monetary crisis in 1947, he coauthored with Alva Myrdal, the Crisis in the Population Question. The work of Gunnar and Alva inspired policies adopted by the Minister of Social Affairs, Gustav Möller, to provide social support to families.
Gunnar Myrdal headed a comprehensive study of sociological, economic and legal data on race relations in the United States funded by the Carnegie Corporation, starting in 1938. The result of the effort was Gunnar Myrdal's best-known work, An American Dilemma: The Negro Problem and Modern Democracy, published in 1944, written with the collaboration of R. M. E. Sterner and Arnold Rose, he characterized the problem of race relations as a dilemma because of a perceived conflict between high ideals, embodied in what he called the "American Creed," on the one hand and poor performance on the other. In the generations since the Civil War, the U. S. had been unable to put its human rights ideals into practice for the African-American tenth of its population. This book was cited by the U. S. Supreme Court in its 1954 decision in Brown v. Board of Education, which outlawed racial segregation in public schools. Myrdal planned on doing a similar study on gender inequal
John Maurice Clark
John Maurice Clark was an American economist whose work combined the rigor of traditional economic analysis with an "institutionalist" attitude. Clark was a pioneer in developing the notion of workable competition and the theoretical basis of modern Keynesian economics, including the concept of the economic multiplier. John Maurice Clark was born November 1884, in Northampton, Massachusetts, he studied at Amherst College, graduating in 1905, received his Ph. D. from Columbia University in 1910. J. M. Clark was the son of economist John Bates Clark and shared his father's concern with ethical and policy issues, in keeping with much intellectual thought during the progressive era. Both father and son worked would work jointly on rewriting and expanding John Bates Clark's 1912 book The Control of Trusts, with the new edition seeing publication in 1914. Work upon this theme would be continued by J. M. Clark in his Social Control of Business. Clark was an Instructor at Colorado College from 1908 to 1910 and at Amherst College from 1910 until 1915, when he left to join the faculty of political economy at the University of Chicago.
He accepted a professorship at Columbia in 1923, assuming the post held there by his father. He would remain at Columbia for the remaining three decades of his academic life retiring in 1957. Throughout his career Clark was concerned with the dynamics of a market economy. In his early work Studies in the Economics of Overhead Costs, Clark developed his theory of the acceleration principle, that investment demand can fluctuate when consumer demand fluctuates. In this he anticipated key Keynesian theories of business cycles. Clark examined the relationship between firm size and production cost, demonstrating the way firms with high fixed costs could reduce average cost of production by expanding output, thus explaining the price leverage wielded by giant firms in capital-intensive industries; the work illustrated the critical importance of accurate cost information for those seeking the effective regulation of monopolistic or oligopolistic firms. Clark's next published work, Social Control of Business, continued the theme of national economic governance, detailing the institutional and legal factors that limited social oversight of monopolistic behavior.
Clark argued that accounting provided an essential mechanism for the monitoring of the behavior of economically mighty firms to assure their operation within the limits established by regulation. In his 1931 book The Costs of the World War to the American People, Clark first broached the concept of the economic multiplier, the idea that "all expenditures give rise to subsequent income effects and that their aggregated sum can always be expressed as a multiple of the original disbursement." In this work Clark developed the idea of multiplier effects for foreign trade and capital investment in advancing this thesis that the actual cost of World War I to the American people exceeded the sum of nominal expenditures by the government upon the war. Clark expanded upon the consideration of the multiplier effect in public planning in his 1935 book, Economics of Planning Public Works. With America mired in the Great Depression and book sales weak, Clark was unable to find a commercial or academic publisher for this work.
The National Planning Board of the U. S. Government published the title via the United States Government Printing Office; the opus has since come to be regarded as a classic in its field. Clark is considered one of the founders of the theory of workable competition, neither pure competition nor pure monopoly, a neglected Marshallian insight. Clark was President of the American Economic Association in 1935 and was recognized with that organization's highest award, the Francis A. Walker Medal, in 1952. J. M. Clark died on June 1963, aged 78, in Westport, Connecticut. Standards of Reasonableness in Local Freight Discriminations. New York: Columbia University, 1910; the Control of Trusts. Rewritten and enlarged edition, with John Bates Clark. New York: Macmillan, 1914. Studies in the Economics of Overhead Costs. Chicago: University of Chicago Press, 1923. Social Control of Business. Chicago: University of Chicago Press, 1926; the Costs of the World War to the American People. New Haven, CT: Yale University Press, 1931.
Strategic Factors in Business Cycles. New York: National Bureau of Economic Research, 1934; the Economics of Planning Public Works. Washington, DC: U. S. Government Printing Office, 1935. Preface to Social Economics. New York: Farrar & Rinehart, 1936. An Alternative to Serfdom: Five Lectures Delivered on the William W. Cook Foundation at the University of Michigan, March 1947. Oxford, England: Basil Blackwell, 1948. American edition: 1950; the Ethical Basis of Economic Freedom. Westport, CT: C. K. Kazanjian Economics Foundation, 1955. Economic Institutions and Human Welfare. New York: Alfred A. Knopf, 1957. Competition as a Dynamic Process. Washington, DC: Brookings Institution, 1961. Laurence Shute, John Maurice Clark: A Social Economics for the Twenty-First Century. London: Macmillan, 1997. Charles A. Hickman, J. M. Clark. New York, Columbia University Press, 1975. Joseph Dorfman, The Economic Mind in American Civilization. Volume 5. New York: The Viking Press, 1959. T. W. Hutchison, A Review of Economic Doctrines, 1870–1929.
Oxford, England: Clarendon Press, 1953. John Maurice Clark at Find a Grave
The United States of America known as the United States or America, is a country composed of 50 states, a federal district, five major self-governing territories, various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is smaller than the entire continent of Europe's 3.9 million square miles. With a population of over 327 million people, the U. S. is the third most populous country. The capital is Washington, D. C. and the largest city by population is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico; the State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean; the U. S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The diverse geography and wildlife of the United States make it one of the world's 17 megadiverse countries.
Paleo-Indians migrated from Siberia to the North American mainland at least 12,000 years ago. European colonization began in the 16th century; the United States emerged from the thirteen British colonies established along the East Coast. Numerous disputes between Great Britain and the colonies following the French and Indian War led to the American Revolution, which began in 1775, the subsequent Declaration of Independence in 1776; the war ended in 1783 with the United States becoming the first country to gain independence from a European power. The current constitution was adopted in 1788, with the first ten amendments, collectively named the Bill of Rights, being ratified in 1791 to guarantee many fundamental civil liberties; the United States embarked on a vigorous expansion across North America throughout the 19th century, acquiring new territories, displacing Native American tribes, admitting new states until it spanned the continent by 1848. During the second half of the 19th century, the Civil War led to the abolition of slavery.
By the end of the century, the United States had extended into the Pacific Ocean, its economy, driven in large part by the Industrial Revolution, began to soar. The Spanish–American War and World War I confirmed the country's status as a global military power; the United States emerged from World War II as a global superpower, the first country to develop nuclear weapons, the only country to use them in warfare, a permanent member of the United Nations Security Council. Sweeping civil rights legislation, notably the Civil Rights Act of 1964, the Voting Rights Act of 1965 and the Fair Housing Act of 1968, outlawed discrimination based on race or color. During the Cold War, the United States and the Soviet Union competed in the Space Race, culminating with the 1969 U. S. Moon landing; the end of the Cold War and the collapse of the Soviet Union in 1991 left the United States as the world's sole superpower. The United States is the world's oldest surviving federation, it is a representative democracy.
The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States, other international organizations. The United States is a developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for a quarter of global GDP; the U. S. economy is post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world. The United States is the world's largest importer and the second largest exporter of goods, by value. Although its population is only 4.3% of the world total, the U. S. holds 31% of the total wealth in the world, the largest share of global wealth concentrated in a single country. Despite wide income and wealth disparities, the United States continues to rank high in measures of socioeconomic performance, including average wage, human development, per capita GDP, worker productivity.
The United States is the foremost military power in the world, making up a third of global military spending, is a leading political and scientific force internationally. In 1507, the German cartographer Martin Waldseemüller produced a world map on which he named the lands of the Western Hemisphere America in honor of the Italian explorer and cartographer Amerigo Vespucci; the first documentary evidence of the phrase "United States of America" is from a letter dated January 2, 1776, written by Stephen Moylan, Esq. to George Washington's aide-de-camp and Muster-Master General of the Continental Army, Lt. Col. Joseph Reed. Moylan expressed his wish to go "with full and ample powers from the United States of America to Spain" to seek assistance in the revolutionary war effort; the first known publication of the phrase "United States of America" was in an anonymous essay in The Virginia Gazette newspaper in Williamsburg, Virginia, on April 6, 1776. The second draft of the Articles of Confederation, prepared by John Dickinson and completed by June 17, 1776, at the latest, declared "The name of this Confederation shall be the'United States of America'".
The final version of the Articles sent to the states for ratification in late 1777 contains the sentence "The Stile of this Confederacy shall be'The United States of America'". In June 1776, Thomas Jefferson wrote the phrase "UNITED STATES OF AMERICA" in all capitalized letters in the headline of his "original Rough draught" of the Declaration of Independence; this draft of the document did not surface unti
Frank Stilwell (economist)
Franklin "Frank" J. B. Stilwell is professor emeritus, he is known for establishing, with Evan Jones, Gavan Butler, Margaret Power and Ted Wheelwright, an independent political economy department at the University of Sydney. His research interests include theories of political economy and regional development, Australian economic policy and the nature of work, his textbooks on the subject are standard teaching material for all university students in Australia studying the field of Political Economy. Stilwell's contribution to heterodox economics makes him a noteworthy figure of the Australian New Left. Frank Stilwell was born in Southampton, in 1945, his mother was an infant school teacher, his father was a junior clerk in the department of Customs and Excise. His father enjoyed local politics and became mayor; as Stilwell claimed in an interview with the Sydney Morning Herald: " was an independent... but he joined the Conservative Party as a Conservative councillor. That was after the Conservatives threatened to stand a candidate against him … he was pragmatic till the end."
Stilwell arrived at Sydney University in 1970, to an economics department, divided on the teaching of the qualitative and quantitative methods in economics. The roots of the dispute were framed by the rise of the new social movements of the late 1960s and the early 1970s, especially: the Anti-conscription campaigns surrounding the Vietnam war, the women’s movement, the the anti-Springbok demonstration and the black rights protests. In politics, the election of Gough Whitlam forged the capacity for an alternative future for Australian economic governance; the crisis of stagflation and free education had impacted the political culture of the period. Dissident academic traditions were being forged in Paris and Berkeley challenging academic hierarchies; the 1960s economics syllabus had been dominated by a mix of microeconomics, macroeconomics, as well as the study of Australian and international economies. Colin Simkin and Warren Hogan were appointed to the Sydney University economics department in 1968-9.
Both academics had been chosen by the Vice-Chancellor, Professor Bruce Williams, professor of economic as Manchester university. They would become the core figures pushing for a mathematical/theory orientated reform. Ted Wheelwright would write to the Vice-Chancellor in 1970, calling for an official enquiry into the department. Several of the academic hired by Hogan would end up aligning themselves with Wheelwright including: Debesh Bhattacharya, Gavan Butler, Frank Stilwell and Evan Jones; the issue was heightened when students began to complain that the new Economics I and Economics II courses were overly abstract and poorly taught. This would lead Simkin, in 1971, to requests the possibility of a Radical Economics course from 1973; this animosity was compounded when Paul Samuelson, arguably among the most influential economists of the period, came to lecture in Sydney. Samuelson's lecture was met with much hostility; as a response, a radical economics conference was organised by three students in 1973— Steve Keen, Richard Fields and Greg Cough.
A large scale student and staff coalition would develop when the Philosophy Department decided to strike over the desire to teach a course in feminist and a course dedicated to Marxist philosophy. The students in Economics I votes to support the strike, emerging in the ‘day of protest’ on July 25, 1973 attend by 200 students; the students held a meeting, determining that they wanted a ‘political economy’ course, combining a range of insights from Heterodox economic thought. This led to a reader in the department of accounting, to set up an official enquiry. Mills found that the establishment of a Department of Political Economy would be the best solution, given that the economics department were unwilling to facilitate the changes to course content suggested by staff and students; the Faculty of economics resolved to endorse the Mills committee findings on 19 April 1974. Joan Robinson would come to speak in April 1975 at the Wallace Lecture Theatre in favour of the political economy movement.
Malcolm Turnbull would emerge in 1975 as a key ‘mediator’ of the dispute, in favour of retaining a united economics department, to no avail. The Students’ Representative Council in 1976, under the presidency of law student David Patch, would support the political economy push; the political economy conference of 1976 would attract 1500 people from all over Australia fuelled by the Whitlam dismissal. In 1982/3 there was some fear that the Economics I and possible Economics II courses would be lost due to opinions emerging from the Vice-Chancellor; as a response, the SRC organised a vote on the forced merger, in which eighty per cent voted for the maintenance of separate streams. When this was not supported by the economics professorship, students organised a demonstration in the winter of 1983. On 8 June some students towed a rented caravan into the university grounds and parked it in the middle of the Quad’s Front Lawns. Adorned with a banner describing it as ‘the Faculty of Political Economy’ the caravan was used as an information centre for the protest movement.
It stayed there for over three weeks, staffed day and night by political economy students such as Stephen Yen, Maria Barac and Paul Porteous. On 15 June students occupied the clock tower in the Quadrangle. Damage, estimated by the univ