Allyn Young: The Peripatetic Economist.

• Author: Bethune, John J.

This book is a contribution to the "Studies in the History of Economics" series, edited by D. E. Moggridge. If the prepublication comments on the back cover are any indication, it should appeal to economists with divergent views, ranging from James Buchanan to Paul Samuelson. If you, however, are like most in the profession, the name of Allyn Young will not be very familiar to you. Blitch addresses the relative obscurity of his subject in his introductory comments, and concludes that Young's modest contribution of professional papers, and his lack of in-depth study on any particular topic, have led to him being almost forgotten. This book, then, is offered as a comprehensive biographical reference for an individual who was considered a great American economist in the early part of the 20th century.

The first chapter provides a detailed sketch of Young's family life and of his early academic endeavors, from grade school in the Dakota Territory to his receipt of the Ph.D. at the University of Wisconsin. At the time, the economics program at Wisconsin provided a fairly broad interdisciplinary education, and Blitch maintains that this was a factor that led to Young's numerous choices of topics for academic inquiry.

Chapter Two, entitled "The Peripatetic Economist," begins by describing Young's early academic career, which included a series of short stays at various institutions. Eventually, Young ended up at Stanford (appointed in 1906, the same year that Thorstein Veblen accepted a position there) and remained for five years until he accepted a position at Washington University in St. Louis. Blitch's colorful presentation of the bureaucratic dealings regarding maneuverings for positions and salaries make this an especially appealing chapter for an academic economist. After commenting on the significance of Young's work while at Washington University, the author concludes this chapter on the moving economist with an acceptance of a position at Cornell.

The title of Chapter Three, "Cornell, Washington, and New York," gives notice that Young continued to be somewhat of a journeyman and indicates that the book is accurately subtitled. While at Cornell, Young met Joseph Schumpeter and arranged for him to deliver a lecture. They developed a friendship that lasted until Young's death. In fact, it was Young who arranged Schumpeter's 1927 appointment at Harvard. During his Ithaca stay, Young supervised a number of dissertations, including those of...