Economics in the United States: New York, Harvard, Chicago and Princeton

Roberto Marchionatti

Chapter Chapter 6 in Economic Theory in the Twentieth Century, An Intellectual History—Volume II, 2021, pp 253-342 from Springer

Abstract: Abstract The chapter deals with the increasing consolidation of many centers of economic studies in United States, a process that in the 1930s was accelerated by the influx of scholars from Europe. Firstly, the chapter examines economics in New York, at Columbia and at the New School for Social Research, main centers of Institutionalism in United States under the leadership of Wesley Mitchell. Then economics at Harvard is considered: the 1930s represented the golden era of the Department of Economics with the works of Schumpeter, Leontief, Chamberlin, Mason and Hansen. Then economics in Chicago is analyzed: Chicago’s economics represented a mixed bag consisting of three groups of scholars, the precursors of the future Chicago School, the institutionalists and the quantitative economists, connected with the econometricians of the Cowles Commission, center of Haavelmo’s econometric revolution. Lastly the birth of game theory at Princeton as result of the collaboration of Morgenstern and von Neumann is examined.

Keywords: Columbia University; New School; NBER; University in Exile; W. Mitchell; Institutional economics; Business cycles; Harvard Department of Economics; J. Schumpeter; Capitalism; Socialism and Democracy; W. Leontief; Input–output model; E. Chamberlin; Monopolistic Competition; E. Mason; Industrial organization; Chicago Department of Economics; F. Knight; Risk Uncertainty and Profit; J. Viner; Neoclassical microeconomics; Cowles Commission; T. Haavelmo; Econometric revolution; J. Neumann; O. Morgenstern; Game theory (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-80987-4_6

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DOI: 10.1007/978-3-030-80987-4_6

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