Frank William Taussig
Encyclopedia
Frank William Taussig was a U.S.
economist
and educator. Taussig is credited with creating the foundations of modern trade theory
.
, the son of William
and Adele (Wuerpel) Taussig. His parents encouraged his literary and musical interests, and he played the violin at an early age. He was educated in the St. Louis public schools and at Smith Academy in that city. He then went to Washington University there, but after a year transferred to Harvard
from where he graduated in 1879. He then traveled in Europe for a year, taking some time to study economics at the University of Berlin
. He then did graduate work at Harvard in law and economics, and during this time was secretary to President Charles W. Eliot for some years. He got a law degree in 1886 and was appointed assistant professor at Harvard. He became professor of economics in 1892, and remained at Harvard for the balance of his professional career, except for several years spent in federal service, and some time spent traveling in Europe recovering from a nervous disorder.
He was editor of the Quarterly Journal of Economics
from 1889 to 1890 and from 1896 to 1935; president of the American Economic Association
in 1904 and 1905; and chairperson of the United States Tariff Commission from 1917 to 1919. In March 1919, he was called to Paris
to advise in the adjustment of commercial treaties, and in November, on invitation of President Wilson
, he attended the second industrial conference in Washington
for promoting peace between capital and labour. He was a strong supporter of the League of Nations
.
Taussig is buried in Mount Auburn Cemetery
, Cambridge, Massachusetts
.
The successor to his chair at Harvard was Joseph Schumpeter
. In 1888, he married Edith Thomas Guild. One of their four children was Helen Brooke Taussig (1898–1986), a noted pediatrician and cardiologist. F. W. Taussig's first wife died in 1910, and he married Laura Fisher.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and educator. Taussig is credited with creating the foundations of modern trade theory
International trade
International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product...
.
Biography
He was born in St. LouisSt. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
, the son of William
William Taussig
William Taussig wasa St. Louis physician and businessperson. He managed thebusiness affairs associated with building the Eads Bridge and its lateroperation.-Biography:...
and Adele (Wuerpel) Taussig. His parents encouraged his literary and musical interests, and he played the violin at an early age. He was educated in the St. Louis public schools and at Smith Academy in that city. He then went to Washington University there, but after a year transferred to Harvard
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
from where he graduated in 1879. He then traveled in Europe for a year, taking some time to study economics at the University of Berlin
Humboldt University of Berlin
The Humboldt University of Berlin is Berlin's oldest university, founded in 1810 as the University of Berlin by the liberal Prussian educational reformer and linguist Wilhelm von Humboldt, whose university model has strongly influenced other European and Western universities...
. He then did graduate work at Harvard in law and economics, and during this time was secretary to President Charles W. Eliot for some years. He got a law degree in 1886 and was appointed assistant professor at Harvard. He became professor of economics in 1892, and remained at Harvard for the balance of his professional career, except for several years spent in federal service, and some time spent traveling in Europe recovering from a nervous disorder.
He was editor of the Quarterly Journal of Economics
Quarterly Journal of Economics
The Quarterly Journal of Economics, or QJE, is a peer-reviewed academic journal published by the Oxford University Press and edited at Harvard University's Department of Economics. Its current editors are Robert J. Barro, Elhanan Helpman and Lawrence F. Katz...
from 1889 to 1890 and from 1896 to 1935; president of the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
in 1904 and 1905; and chairperson of the United States Tariff Commission from 1917 to 1919. In March 1919, he was called to Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
to advise in the adjustment of commercial treaties, and in November, on invitation of President Wilson
Woodrow Wilson
Thomas Woodrow Wilson was the 28th President of the United States, from 1913 to 1921. A leader of the Progressive Movement, he served as President of Princeton University from 1902 to 1910, and then as the Governor of New Jersey from 1911 to 1913...
, he attended the second industrial conference in Washington
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
for promoting peace between capital and labour. He was a strong supporter of the League of Nations
League of Nations
The League of Nations was an intergovernmental organization founded as a result of the Paris Peace Conference that ended the First World War. It was the first permanent international organization whose principal mission was to maintain world peace...
.
Taussig is buried in Mount Auburn Cemetery
Mount Auburn Cemetery
Mount Auburn Cemetery was founded in 1831 as "America's first garden cemetery", or the first "rural cemetery", with classical monuments set in a rolling landscaped terrain...
, Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
.
The successor to his chair at Harvard was Joseph Schumpeter
Joseph Schumpeter
Joseph Alois Schumpeter was an Austrian-Hungarian-American economist and political scientist. He popularized the term "creative destruction" in economics.-Life:...
. In 1888, he married Edith Thomas Guild. One of their four children was Helen Brooke Taussig (1898–1986), a noted pediatrician and cardiologist. F. W. Taussig's first wife died in 1910, and he married Laura Fisher.
Works
- The Tariff History of the United States (1888; sixth edition, revised, 1914), a standard work
- Protection to Young Industries as Applied to the United States (1883; second edition, 1886)
- History of the Present Tariff, 1860-83 (1885)
- The Silver Situation in the United States (1892; third edition, revised, 1896)
- Wages and Capital (1896)
- Principles of Economics (1911; second edition, 1915)
- Some Aspects of the Tariff Question (1915)
- Inventors and Money Makers (1915), Brown UniversityBrown UniversityBrown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
lectures - Free Trade, the Tariff, and Reciprocity (1919)
Sources
- Britannica Online
- Profile of Frank W. Taussig at the History of Economic Thought website.
- Department of Economics, University of Victoria At Google Books.