Knowledge that Transforms

The work of Pearl and Reed, 558 — Their postulates, 559. — The logistic formula, 561. — The question of closeness of fit of the formula to the observed data, 562. — The applications of a mathematical formula of growth, 564. — Intercensal interpolation, 564. — Prediction of future growth, 566. — Malthus, 568. — Elkanah Watson, 569. — Department of Agriculture experts, 570. — Pritchett, 571. — Critique of Pearl's assumptions and of his formula as a predictive device, 573. — Cultural influences and cycles of growth, 577. — Empirical versus rational laws, 579. — The use and abuse of analogy, 582. — The analogy between the growth of an individual and that of an aggregate, 583. — Relation of changing birth rates, death rates, and age constitution to the shape of the growth curve, 586. — The Algerian population, 587. — Inconclusiveness of Pearl's analysis, 589. — Further analogy — correlation of population growth with density, 590. — Doubtful value of the logistic formula, 593.

I. The social sciences differ from the physical in that the observer's interest lies within them, 1. — The contractual and the institutional views of society, 5. — Corresponding types of investigation, 6. — The genetic point of view, 7. — II. Group research and its promise, 11. — Induction and deduction, 12. — Fruitful hypotheses essential, 14. — Individual research; the constructive imagination, 15. — Promising types of research, 16. — The limitations and promise of research, 23.

A new method proposed for measuring the trend of the terms of trade, 665. — Germany's pre-war trade balance, 666. — Distribution of imports and exports in main groups, 668; in detail, 669. — Trade balance in physical terms, 671. — Indices of changes, in value and in physical terms, 674. — Explanation of the changes, 674. — Increasing exports of capital after 1908, 680. — Significance of the rates of foreign exchange, 682. — Conclusion, 683.

How statistical demand curves are constructed, 213. — The theory of the demand-and-supply curve analysis applied to a period of time, 217. — Statistical curves which would result under hypothetical conditions, 218. — Data used do not necessarily reflect influence of demand more than of supply, 222. — Whether fitted curve approximates a demand or supply curve depends on the relative variability of demand and supply, 224. — Slope of the fitted curve may not correspond to the true demand curve, 225. — In what sense may statistical demand curves be "general" demand curves? 228. — Distinction between consumer and dealer demand, 230. — Fitted curves are "static" in the sense of showing an "average" relationship, or relationship at a "typical" point of time, 231. — Do statistical demand curves assume all other things equal? 233. — Conclusions, 234.

Among the provisions of the constitution of the American Institute of Accountants, it is stated that one of the objects of the Institute is "to develop and improve accountancy education." The endowment fund was established largely for the promotion of this object; and for years the Committee on Education has been functioning with great vigor in an attempt to analyze and formulate the trend of accounting instruction. In previous regional meetings and in sessions of the Institute, educators have been called upon freely to express their ideas as to the problem which they have. Each year the recommendations which have proceeded from discussions have become more and more specific. Yet is appears that nothing has been said as to the importance to the academic field of the semi-annual examinations set by the Institute's Board of Examiners. Members of the teaching profession have regarded these examinations, especially since their adoption by thirty or more state boards of examiners, as furnishing important criteria for student instruction. No doubt the Institute's Board of Examiners, with appropriate professional modesty, would disclaim any effort, direct or indirect, to invade or in any way to influence the profession of teaching. But a denial of intent cannot alter the use to which the examinations have been put.

Reviews the book "Business Cycles and Business Measurements," by Carl Snyder.

There is always a certain amount of interest attached to the excursion of a state into the field of industry. This is not confined to the state itself, but usually manifests itself as well in even remotely located sister commonwealths. Because of the publicity given North Dakota's program of state ownership, it was thought that a paper dealing with some of the problems of its major industry would find enough interest to justify it. In order to understand clearly the nature of the organization and management of the state mill and elevator, it is necessary to touch briefly on certain acts of the legislature. In the first section of an act passed by the sixteenth legislative assembly of the State of North Dakota and approved February 25, 1919, is found the statement that "for the purpose of encouraging and promoting agriculture, commerce and industry, the State of North Dakota shall engage in the business of manufacturing and marketing farm products and for that purpose shall establish a system of warehouses, elevators, flour mills, factories, plants, machinery and equipment, owned, controlled and operated by it under the name of the North Dakota Mill and Elevator Association." In addition, this act provided for the manner of operation of the Association and the powers and duties of the persons charged with its management.

Reviews the book "Municipal Budget Making," by R. Emmett Taylor.

In recent times, many companies have cut selling cost materially because of better accounting control particularly of the field organization. Also, an increasing interest has been shown by sales executives in sales-cost accounting. The author attempts to show how sales-cost accounting can be made to aid sales executives. The discussion centers around defining and grouping, budgeting, and apportioning selling overhead costs. Various items which are charged to selling expense by some concerns are not so included by others. The wide variation in selling expense items no doubt to a large extent is due to the difference in the sales policies of organizations as well as a lack of a common conception of the functions of the sales department. Effective budgeting of expenses presupposes proper charting of the functions of an organization so that the responsibility of performing each function can be definitely fixed. It has been noted that cost of operating in each territory and the profit and loss of each give the sales manager a basis for reorganizing his sales districts so as to make the efforts of the sales people more effective.

Reviews the book "Motor Bus Accounting Practice," by Orville Augustus May.