Journal Article Tariffs and the Balance of Payments: Reply Get access S. A. Ozga S. A. Ozga London School of Economics Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 72, Issue 2, May 1958, Pages 302–303, https://doi.org/10.2307/1880605 Published: 01 May 1958

I. Introduction, 327. — II. The Hicksian analysis, 328. — III. The integrated model, 332. — IV. The properties of the integrated model, 338. — V. Conclusion, 343. — Mathematical Appendix, 344.

G. A. Elliott, Factor Proportions and the Structure of American Trade: Further Theoretical and Empirical Analysis: Comment, The Review of Economics and Statistics, Vol. 40, No. 1, Part 2. Problems in International Economics (Feb., 1958), pp. 116-117

ECONOMIC theorists have done work of high quality and great quantity in the field of taxation. Public expenditure seems to have been relatively neglected. To illustrate this, let me turn to Professor Pigou. I do so with some diffidence, remembering what Ralph Waldo Emerson said to Oliver Wendell Holmes when Holmes showed him a youthful criticism of Plato. When you strike at a King, Emerson said, sure you kill I have no wish to assassinate Professor Pigou. Nor even to criticize him. But immortality does have its price: if one writes an outstanding treatise such as Pigou's A Study in Public Finance, one must expect other men to swarm about it, picking a nugget here and probing for a weakness there. Of a book of some 285 pages, Pigou devotes most attention to taxes. At least 200 pages to taxes; of the rest, most are concerned with fiscal policy and its impact on the business cycle. What about the pure theory of public expenditure? I can find barely half a dozen pages devoted to the heart of this matter specifically, pages 30-34. And even if we widen the category to include Pigou's definitions of transfer and exhaustive expenditure and his discussion of pricing of state-operated public utilities we still cannot bring the total of pages much beyond twenty. Now it may be that this ratio of 200 on taxes to 20 on expenditure is the proper one. Perhaps there is really nothing much to say about expenditure, and so heavily overbalanced a page budget may be truly optimal. On the other hand, we must admit that fashion has a great influence in economics, which suggests that we ought periodically to survey the neglected areas of theory to make sure that they do deserve to be left in their underdeveloped and backward states. I have previously published (this REVIEW, xxxvi, November I 9 54, 3 8 7-89) some thoughts on public expenditure theory; and in order to widen the discussion among economic theorists, I later gave a non-mathematical exposition (ibid., XXXVII, November I955, 350-56). I do not propose here to give a detailed review of these theories. Rather, I'd like to think aloud about some of the difficulties with expenditure theory and with political decision-making. On these subjects, Richard Musgrave and Julius Margolis have done outstanding research and I must confess my obligation to them for much friendly counsel.

Abstract Economists have long realized that over the years much of the impulse to write anew about economic principles originated in the mood of the times. This awareness of the relativity of economic thought to its time of appearance has produced a special literature history of economic doctrine. The focus of interest in accounting however has for centuries been turned toward its usefulness in practical affairs. Its evolutionary development has been strongly influenced by that fact. Its service from the beginning has been that of expressing and systematically organizing the data of economic acts and business decisions stated in quantitative terms. The acceptability of that kind of service has been so positive that the literature has been concerned with improved technology and the professionalization of independent auditing. Although the recording methodology which developed into accounting is usually called double-entry bookkeeping, a much more descriptive name would be "Italian capital-income accounting." That phrase carries a deeper significance than duality. For dual entry and equality of trial balance totals are very superficial aspects of accounting technology.

Abstract The article presents a study of several business schools offering master's degree in business in the U.S. The Master's degree is sometimes considered as terminal and sometimes as a foundation step toward the doctoral degree. The two objectives are usually well harmonized and actually there need not be too much difference between the requirements. For a long time, it has been recognized that many students of superior ability need financial assistance in order to go to college, and this is particularly true if they continue on beyond the first degree. In general, the schools have been holding scholarships for tuition, fellowships for larger amounts including room and board, assistantships with a little greater flexibility, teaching assistantships, teaching associateships and instructorships for top amounts. Since loans have to be paid back, often with interest, the student is reluctant to take a loan if he can secure the means some other way. The survey shows that as compared with seven years ago, the non-service type of grant is gaining and the requests for loan funds decreasing.

Reviews the book "A Dictionary for Accountants," 2nd ed., by Eric L. Kohler