Journal Article Winter's Fundamental Selection Theorem: Reply Get access Sidney G. Winter Sidney G. Winter U. S. General Accounting Office Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 105, Issue 4, November 1990, Pages 1075–1077, https://doi.org/10.2307/2937888 Published: 01 November 1990

I. Introduction: Managerialism, behavioralism, and the competitive model, 237. — II. Firm decision processes and the "as if" argument, 240. — III. Selection, decision rules, and competitive outcomes, 244. — IV. A competitive industry: Orthodox analysis, 248. — V. A competitive industry: Assumptions of the selection model, 249. — VI. Proof of the theorem, 254. — VII. Extensions and generalizations, 257. — VIII. Schumpeterian competition, 259. — IX. Concluding comments, 260. — Appendix: Proof of the existence of competitive equilibrium, 261.

The article focuses on the preparation and qualifications of accounting teachers. When increasing the quantity of teachers is a factor of prime importance, it is unsafe to rely on the love of teaching to fill potential needs. The teaching career may well have been generated by the lack of alternative opportunities, rather than by strong interest or compelling desire. Some present teachers, a bit older, come from the period when competition from industry was not so great, when beginning salaries for teachers were even somewhat above those offered in public accounting and other businesses. A more effectively competitive beginning salary, may be regained if and as adequate funds are available, is a strong consensus that to assure increased quantity, and even reasonable quality, of beginning teachers there must be sharp increases in financial inducements. In any realistic discussion of the qualifications of accounting teachers one must relate the cost of preparation in time, money and effort to the probable financial and other returns on such costs.

Reviews the book "Public Accounting Practice and Accounting Education," by Donald P. Perry.

In this article the author comments on the matter of attracting and maintaining a supply of effective accounting teachers introduced by Tom Carroll. He mentions his doubts that lectures are the best method of teaching most of the accounting curriculum. He takes into consideration the re-examination of the badly fractionated semester-hours and quarter-hour schedules. In relation to the question of accounting curriculum of a university or college, he mentions a program of accounting instructions in a college in Iowa. He mentions that accounting students prefer to work in a wholesome atmosphere in which academic freedom is accompanied by truth in academic advertising. He criticizes the use of businessmen as members of accounting faculty in relation to the standards associated with terminal degree requirements of the American Association of Collegiate Schools of Business. He also discusses the salary scale of accounting faculty members, mentioning the mistakes committed in this regard and that the middle range of salary scale as the section most likely to be attained by a majority of the faculty.

Reviews the book "Recent and Prospective Developments in Accounting Theory," by William A. Paton.

Reviews the book "The Position of the Public Accountant in Relation to Business and Government in Great Britain," by Laurence Halsey.

Reviews two books on accounting. "Dickinson Lectures in Accounting," by George O. May, Laurence Halsey and William A. Paton; "Improvement in Financial Accounts," by George O. May.

Reviews the book "Corporate Dividends," by Donald Kehl.

Public accountancy is admittedly one of the newer professions. From time to time accountants have deemed it appropriate to remark the similarities existing between the accounting profession and the professions of medicine and law. There have been fewer likening of accounting to the still older professions of teaching and the ministry. Accounting has been accorded its place in the general educational program. At least one year of accounting, the elementary course, is available in almost every college in the U.S. Nearly all colleges and universities offer, in addition to this elementary course, some courses in "advanced accounting." These "advanced courses" usually include cost accounting and some auditing. Courses carrying the equivalent of from nine to fifteen semester hours of credit constitute a rather common accounting curriculum in even the very small schools. Unquestionably there has been a universal recognition of the demand for instruction in accounting. There are two schools in accounting instruction, that school which emphasizes primarily the philosophy of accounts, and that school which emphasizes primarily the mechanics of accounting.