Frank William Taussig

Frank William Taussig
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Name	Frank William Taussig
Birth date	December 28, 1859
Birth place	St. Louis, Missouri
Death date	November 11, 1940
Death place	Cambridge, Massachusetts
Nationality	American
Institution	Harvard University
Field	International trade, Economics
Alma mater	Harvard University
Influences	John Stuart Mill, Alfred Marshall
Contributions	International trade theory, Tariff

Frank William Taussig was a renowned American economist and educator, known for his significant contributions to the field of International trade and Economics. He was a prominent figure at Harvard University, where he taught and conducted research, influencing notable economists such as Joseph Schumpeter and Edward Chamberlin. Taussig's work was heavily influenced by John Stuart Mill and Alfred Marshall, and he was a key figure in the development of International trade theory. His research and teachings also had a significant impact on the United States Tariff Commission and the Federal Trade Commission.

● Early Life and Education

Frank William Taussig was born on December 28, 1859, in St. Louis, Missouri, to a family of German descent. He attended Harvard University, where he earned his Bachelor's degree in 1879 and his Ph.D. in 1883. During his time at Harvard University, Taussig was heavily influenced by the works of John Stuart Mill and Alfred Marshall, which shaped his future research and teachings. He also had the opportunity to study under notable economists such as Charles Dunbar and William Graham Sumner. After completing his education, Taussig traveled to Europe, where he studied at the University of Berlin and the University of Vienna, and was exposed to the works of Carl Menger and Eugen von Böhm-Bawerk.

● Career

Taussig began his academic career as a lecturer at Harvard University in 1885, and quickly rose through the ranks to become a full professor in 1892. He taught a variety of courses, including International trade, Economics, and Statistics, and was known for his engaging and informative teaching style. Taussig was also a prolific researcher, and his work was published in numerous academic journals, including the Quarterly Journal of Economics and the American Economic Review. He was a member of the American Economic Association and served as its president from 1904 to 1905. Taussig's expertise in International trade and Tariff policy led to his appointment to the United States Tariff Commission in 1917, where he played a key role in shaping the country's trade policy.

● Contributions to Economics

Taussig's contributions to the field of Economics were significant, and his work had a lasting impact on the development of International trade theory. He was a strong advocate for Free trade and argued that Tariffs were a major obstacle to international trade. Taussig's research on the Theory of international trade was influenced by the works of David Ricardo and John Stuart Mill, and he made significant contributions to the development of the Heckscher-Ohlin model. He also conducted extensive research on the United States Tariff Commission and the Federal Trade Commission, and his work had a significant impact on the development of Trade policy in the United States. Taussig's contributions to Economics were recognized by his peers, and he was awarded the Francis A. Walker Medal in 1917.

● Notable Works

Taussig was a prolific writer, and his notable works include The Tariff History of the United States and Principles of Economics. His book The Tariff History of the United States is considered a classic in the field of International trade and provides a comprehensive history of Tariff policy in the United States. Taussig's book Principles of Economics was a widely used textbook in Economics and provided a comprehensive overview of the subject. He also wrote numerous articles and essays on topics such as International trade, Tariff policy, and Economic theory, which were published in academic journals such as the Quarterly Journal of Economics and the American Economic Review. Taussig's work was widely read and respected by his peers, including notable economists such as John Maynard Keynes and Joseph Schumpeter.

● Legacy

Frank William Taussig's legacy in the field of Economics is significant, and his work continues to influence economists and policymakers today. His contributions to the development of International trade theory and Tariff policy have had a lasting impact on the field of Economics. Taussig's students, including Joseph Schumpeter and Edward Chamberlin, went on to become prominent economists in their own right, and his influence can be seen in their work. The Frank W. Taussig Award is given annually by the American Economic Association to recognize outstanding contributions to the field of International trade. Taussig's work also had a significant impact on the development of Trade policy in the United States, and his legacy can be seen in the work of organizations such as the United States Tariff Commission and the Federal Trade Commission. Today, Taussig is remembered as one of the most important economists of the 20th century, and his work continues to be studied by economists and policymakers around the world, including those at the International Monetary Fund, the World Bank, and the World Trade Organization.