Personal Wealth Transfers

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Date
1980-08-01
Authors
Adams, James
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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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Economics
Abstract

This article Is a study of personal wealth transfers, with special emphasis on transfers of assets, such as gifts and bequests. Despite the Interest shown In this topic over the years by writers on economics, little analytical work has been done that directly approaches the problem of defining the behavior which motivates the transfers [main exceptions appear to be Becker (1974), Blinder (1974), Ishikawa (1975), and Parsons (1975, 1976)].^ The paper has two main purposes: to develop a theory which not only defines the behavior, but also has refutable implications, and then to test the theory upon data.

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