Power and Employment

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Date
1981
Authors
Gardner, Roy
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Economics

The Department of Economic Science was founded in 1898 to teach economic theory as a truth of industrial life, and was very much concerned with applying economics to business and industry, particularly agriculture. Between 1910 and 1967 it showed the growing influence of other social studies, such as sociology, history, and political science. Today it encompasses the majors of Agricultural Business (preparing for agricultural finance and management), Business Economics, and Economics (for advanced studies in business or economics or for careers in financing, management, insurance, etc).

History
The Department of Economic Science was founded in 1898 under the Division of Industrial Science (later College of Liberal Arts and Sciences); it became co-directed by the Division of Agriculture in 1919. In 1910 it became the Department of Economics and Political Science. In 1913 it became the Department of Applied Economics and Social Science; in 1924 it became the Department of Economics, History, and Sociology; in 1931 it became the Department of Economics and Sociology. In 1967 it became the Department of Economics, and in 2007 it became co-directed by the Colleges of Agriculture and Life Sciences, Liberal Arts and Sciences, and Business.

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1898–present

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  • Department of Economic Science (1898–1910)
  • Department of Economics and Political Science (1910-1913)
  • Department of Applied Economics and Social Science (1913–1924)
  • Department of Economics, History and Sociology (1924–1931)
  • Department of Economics and Sociology (1931–1967)

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Abstract

In any economic system, but especially in centrally planned economies, there exists an important interaction between the political structure and the economic outcome. In a society like that of the Soviet Union, there are considerable differences in power among the various segments of society. These differences in power lead to the existence of economic classes, not unlike those in capitalist economies.^ The difference in economic outcome in such circumstances can be striking. During the 1920's the Soviet Union experienced substantial unemployment among the industrial labor force, with unemployment rates exceeding 10?^. At the same time, an industrial worker or employee who belonged to the Communist Party had between 1 and 4^. 2 chance of being unemployed. This paper constructs an explanation of this fact.

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