Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-12-30
POLITICAL ECONOMY.

Papers Read at Yesterday Afternoons Ses-
sion of the American Economic Association.
Prof Newcomb presided over the afternoon
session of the American Economic Association
yesterday in the absence of the president, Prof.
Walker. The first paper was read by Prof.
William W. Folwell, professor of political
science in the University of Minnesota. The
subject was: "ASyllabus of Political Economy"
The paper was an argument for the recognition
of public economy as distinct though related
science, running parallel with that Of private
or social economics.
The reading OF the paper was followed by an
oral explanation of a set of nine charts show
ing the main features Of a syllabus of Ameri-
can public economy, devised by the speaker
and submitted to the judgment Of the associa-
ton. This syllabus divides the subject mem
toned into three main divisions to which the
government appears, respectively, as % an ex-
elusive manager and proprietor; (2) as regu-
lasor OF private and corporate activity; 60 as q
mere contribution to science and industry.
EDUCATIONAL VALUE OF POLITICAL ECONOMY.
The next paper was entitled ''The Educa-
| tional Value of Political Economy" by Prof.
Simon n. Patten Of the University of Pennsyl-
vania- He began by calling attention to the
study Of mathematics and the monopoly it has
enjoyed as a means OF logical discipline. He
did not think the claim Of mathematics to go
| exclusive place is justified by the content of
the science, the character Of the reasoning or
by the way in which it is taught He then
| sought to show that political economy was in
| many respects fitted to become a substitute for
mathematics a means Of cultivating the
reasoning powers, and that in some regards it
! is even superior to il. As basis Of this claim
| it is advocated that completely deductive
| sciences do not furnish good a mental dis
cipline those sciences that are less advanced,
| being in a state of transition from the induct-
| called attention to the errors into which the
! teacher Of economics is likely to fall and ad-
duced many instances Of these errors. As an
instance of the error Of mixing morals and
| politics with political economy he CITED Henry
| Georges Progress and Poverty" wherein he
said Herbert Spencer's negative morality, the
| moral question Of the confiscation Of land and
politics were mixed up with purely econom-
ical question.
Both papers gave rise to long discussions,
and the time was 80 fully occupied that the
reading Of the third paper on the program,
System OF Land Registration" by Prof J. W.
jerks, was omitted and the association ad-
| journed until today.
| ELECTION OF OFFICERS
The following officers Of the association for
the ensuing year we're selected by the council
Yesterday: President, F. A. Walker; first vice
president, Prof. C. F. Dunbar Of Harvard;
| second vice president, Prof. w. w. Folwell,
| University of Minnesota; third vice president,
| Col C. ID. Wright, department. Of labor; secre-
tary, Richard I. Ely, Johns Hopkins University
treasurer, Frederic B. Hawley, esq, New York
city; publication committee, Prot. H. c. Adams,
Prof. J. Z. Clark, F. II. Giddings, Prof. =. w.
Taussig and Prof. T. r A. Seligman.
Il