Simon Nelson Patten (May 1, 1852 – July 24, 1922) was an economist and the chair of the Wharton School of Business at the

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a Private university, private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest- ...

. Patten was one of the first economists to posit a shift from an 'economics of scarcity' to an ' economics of abundance'; that is, he believed that soon there would be enough wealth to satisfy people's basic needs and that the economy would shift from an emphasis on production to consumption.

Life and work

Patten attended the

University of Halle Martin Luther University of Halle-Wittenberg (german: Martin-Luther-Universität Halle-Wittenberg), also referred to as MLU, is a public, research-oriented university in the cities of Halle and Wittenberg and the largest and oldest university in ...

(1876–1879), where he came under the influence of

Johannes Conrad Johannes Ernst Conrad (born 28 February 1839 in West Prussia) was a German political economist. Johannes Conrad was a Professor of economics in Halle (Saale), Prussian Germany. He was a co-founder (with Gustav von Schmoller) of the important ' ...

, a member of the German Historical school, a group of economists who believed that scholars should use their expertise to help solve modern social problems. His German experience reinforced his belief in social reform and planned change, but within an American context—that is, change and reform through voluntary action with minimal governmental control. After several years of apprenticeship teaching in primary and secondary schools, Patten in 1887 was appointed professor of economics at the Wharton School of the University of Pennsylvania. He held this important post until 1917, when his vigorous antiwar views got him into trouble and he was forced into premature retirement. Over the years he published 22 books and several hundred articles, both scholarly and popular. The New Basis of Civilization (1907), an outgrowth of lectures he delivered in 1905 at the

New York School of Social Work The Columbia University School of Social Work is the graduate school of social work of Columbia University. It is the nation's oldest social work program, with roots extending back to 1898, when the New York Charity Organization Society's first s ...

, was his most important work. It ran through eight editions between 1907 and 1923. Patten believed that with the new technology the Earth's resources were adequate to provide an economy of abundance for the Western world; that is, there was enough wealth available so that everyone could achieve a proper diet, good basic housing and clothing, and an education that would meet the job requirements of industry. What was lacking was group social action to achieve these desired goals. Nevertheless, he was very influential on

Progressive Era The Progressive Era (late 1890s – late 1910s) was a period of widespread social activism and political reform across the United States focused on defeating corruption, monopoly, waste and inefficiency. The main themes ended during Am ...

politicians and policy. His thought can be juxtaposed with that of his contemporary,

Thorstein Veblen Thorstein Bunde Veblen (July 30, 1857 – August 3, 1929) was a Norwegian-American economist and sociologist who, during his lifetime, emerged as a well-known critic of capitalism. In his best-known book, ''The Theory of the Leisure Class'' ...

Books

*Das Finanzwesen der Staaten und Städte der Nordamerikanischen Union, 1878 *Premises of Political Economy, being a re-examination of certain fundamental principles of economic science, 1885. *The Consumption of Wealth, 1889 *The Stability of Prices, 1889 *Principles of Rational Taxation, 1890 *The Economic Basis of Protection, 1890 *The Educational Value of Political Economy, 1890 *The Theory of Dynamic Economics, 1892 *The Theory of Social Forces, 1896. *The Development of English Thought: A Study in the economic interpretation of history, 1899. *The Theory of Prosperity, 1902. *Heredity and Social Progress, 1903.
New Basis of Civilization
1907. *"Theories of Progress", 1911, AER *The Social Basis of Religion
Preface
and scroll down to chapter-preview links, 1911. *Reconstruction of Economic Theory, 1912 *"Mandeville in the Twentieth Century", 1918, AER

References

* A.W. Coats, 1987. "Patten, Simon Nelson," '' The New Palgrave: A Dictionary of Economics'', v. 3, pp. 818–19. * Trey Popp, November/December 2017.
Prophet of Prosperity
" '' The Penn Gazette'', pp. 48–58.

External links

*
"Simon Patten on Public Infrastructure and Economic Rent Capture"
by

Michael Hudson (economist) Michael Hudson (born March 14, 1939) is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant ...

, October 17, 2011 * * http://www.hetwebsite.net/het/profiles/patten.htm {{DEFAULTSORT:Patten, Simon 1852 births 1922 deaths University of Pennsylvania faculty American economists Presidents of the American Economic Association