Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-5nwft Total loading time: 0 Render date: 2024-05-01T01:12:35.024Z Has data issue: false hasContentIssue false

5 - Biochemist to Economist

Published online by Cambridge University Press:  05 June 2014

Paul Davidson
Affiliation:
University of Tennessee, Knoxville
Michael Szenberg
Affiliation:
Touro College, New York
Lall Ramrattan
Affiliation:
Pace University, New York
Get access

Summary

My career as “professional economist” spans more than five decades. Entrance into the economics profession, however, began rather later than usual. I graduated from Brooklyn College in 1950 with majors in chemistry and biology. I never took a course in economics during my undergraduate years.

From 1950 to 1952, I went on to graduate training in biochemistry at the University of Pennsylvania, where I easily completed my courses while working as an instructor in biochemistry at the Medical and Dental Schools of the University of Pennsylvania. I decided to do a PhD thesis on DNA (this was before the discovery of the “double helix”). Although I had enjoyed my teaching duties, I quickly lost interest in biochemical research and withdrew from the program.

Not knowing what I would do for a living, I returned to New York and enrolled at City University of New York in an MBA program to prepare myself for the world of commerce. While there I was required to take a course in the principles of economics. As a biochemist trained in the questions of experimental design and statistical inference, I was appalled by the misuse of empirical data by the leading econometricians of that time.

Type
Chapter
Information
Eminent Economists II
Their Life and Work Philosophies
, pp. 72 - 83
Publisher: Cambridge University Press
Print publication year: 2014

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Davidson, P. (1959). “A Clarification of the Ricardian Rent Share,” Canadian Journal of Economics and Political Science 25.CrossRefGoogle Scholar
Davidson, P. (1960). Theories of Relative Shares. New Brunswick, NJ: Rutgers University Press.Google Scholar
Davidson, P. (1963). “Public Policy Problems of the Domestic Crude Oil Industry,” American Economic Review 53.Google Scholar
Davidson, P. (1965). “Keynes’s Finance Motive,” Oxford Economic Papers.
Davidson, P. (1966). “The Social Value of Water Recreational Facilities Resulting from an Improvement in Water Quality in an Estuary: The Delaware – A Case Study,” in Kneese, A. V. and Smith, S. C. (eds.), Water Research. Baltimore: Johns Hopkins University Press.Google Scholar
Davidson, P. (1967). “An Exploratory Study to Identify and Measure the Benefits Derived from the Scenic Enhancement of Federal Aid Highways,” Highway Research Record.
Davidson, P. (1968). “Money, Portfolio Balance, Capital Accumulation, and Growth,” Econometrica 36.CrossRefGoogle Scholar
Davidson, P. (1972). Money and the Real World. London: Macmillan.Google Scholar
Davidson, P. (1977). “A Discussion of Leijonhufvud’s Social Consequences of Inflation,” in Harcourt, G. C. (ed.), The Microfoundations of Macroeconomics. London: Macmillan.Google Scholar
Davidson, P. (1977). “Money and General Equilibrium,” Économie Appliqué 4.Google Scholar
Davidson, P. (1978). “Why Money Matters,” Journal of Post Keynesian Economics 1.CrossRefGoogle Scholar
Davidson, P. (1982). International Money and the Real World. London: Macmillan.CrossRefGoogle Scholar
Davidson, P. (1982–1983). “Rational Expectations: A Fallacious Foundation for Studying Crucial Decision Making Processes,” Journal of Post Keynesian Economics 5.CrossRefGoogle Scholar
Davidson, P. (1994). Post Keynesian Macroeconomic Theory: A Foundation for Successful Economic Policies for the Twenty-first Century. Cheltenham: Edward Elgar.Google Scholar
Davidson, P. (2002). Financial Markets, Money and the Real World. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
Davidson, P. (2009). The Keynes Solution: The Path to Global Economic Prosperity. New York: Palgrave/Macmillan.Google Scholar
Davidson, P. (2011). Post Keynesian Macroeconomic Theory: A Foundation for Successful Economic Policies for the Twenty-first Century, 2d ed. Cheltenham: Edward Elgar.Google Scholar
Davidson, P., Falk, L., and Lee, H. (Summer 1974). “Oil: Its Time Allocation and Project Independence,” Brookings Papers on Economic Activity.
Davidson, P., Falk, L., and Lee, H. (1975). “The Relations of Economic Rent and Price Incentives to Oil and Gas Supplies,” in Brannon, G. M. (ed.), Studies in Energy Tax Policy. Cambridge: Ballinger.Google Scholar
Davidson, P., Seneca, J., and Chicetti, C. (1968). The Demand and Supply for Outdoor Recreation. Washington, DC: US Government Printing Office.Google Scholar
Davidson, P. and Weintraub, S. (1973). “Money as Cause and Effect, Economic Journal 83, no. 332: 1117–1132.CrossRefGoogle Scholar
Hicks, J. R. (1977). “Summary,” in Harcourt, G. C. (ed.), The Microfoundations of Macroeconomics. London: Macmillan.Google Scholar
Hicks, J. R. (1980–1981). “ISLM: An Explanation,” Journal of Post Keynesian Economics 3.CrossRefGoogle Scholar
Seneca, Joseph J., Davidson, Paul, and Adams, F. Gerard (November 1968) “An Analysis of Recreational Use of the TVA Lakes,” Land Economics 44, no. 4: 529–534.
Tobin, J. (1965). “Money and Economic Growth,” Econometrica 33.CrossRefGoogle Scholar
Weintraub, S. (1958). An Approach to the Theory of Income Distribution. Philadelphia: Chilton.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×