The Fallacies of Economics Professor Richard Ely |
[Reprinted from Land and Freedom, July-August 1929]
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We regret that such a high-toned and valuable daily as
the Ohio State Journal of Columbus, Ohio, should
publish in its issue of June 16 an article by the National
Association of Real Estate Boards in praise of Prof.
Richard T. Ely, of the Northwestern University. We do
not know of a university teacher and publicist who has
done so much to degrade academic life, and to make it a
jest and by-word than has Ely. He is a professed teacher
of youth, yet he is in the pay of large landed and public
utility interests.
He is trying to serve two masters Monopoly and
education. To serve the first he has abandoned utterly the
economic teachings of his earlier years and teaches what
even the superficial mind should be able to detect as
exceedingly preposterous notions regarding land values
taxation and public utilities. One has only to compare
his old with his new text books to perceive how
completely he has gone over to the monopolistic interests
which subscribe heavily to his Research Institute. In his
prospectus of the establishment of the new Institute he
announced that there would be years of research world
with the publication of not less than fifty volumes. This
humbug is easily perceived when it is noted that, at the
very outset, he gives his conclusions. This is not
research. The sincere investigator does not do these things.
It is the method of the partisan pleader.
Ely appears as
the economic attorney for the land speculators in their
struggle to retain unjust economic privileges. And the
reason given for the removal of this institute from the
University of Wisconsin to the Northwestern University
is not the true one.
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