Frank William Taussig

Frank William Taussig (1859–1940) was an American economist and Harvard professor whose work shaped the study of international trade, tariffs, and economic thought.

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Comparative advantage: The principle that countries can gain from trade by specializing in goods with lower opportunity costs. Taussig developed classical trade theory around the gains and limits of specialization between nations.
Charles Francis Dunbar: An American economist who founded Harvard’s economics department and served as its first professor of political economy. Dunbar was Taussig’s Harvard mentor and preceded him in shaping the department.
United States Tariff Commission: A federal agency established in 1916 to investigate tariffs and trade policy; it is now the U.S. International Trade Commission. Taussig chaired the commission during the 1930s, applying economic expertise to tariff investigations.
Principles of Economics (Taussig): Frank W. Taussig’s influential economics textbook, first published in 1911. The book distilled his teaching and became one of his most widely read works.
Ricardian economics: The economic tradition derived from David Ricardo’s theories of value, distribution, rent, and international trade. Taussig’s trade analysis extended and critically examined Ricardo’s account of comparative costs.
John Bates Clark: An American economist known for marginal productivity theory and his account of income distribution. Clark’s marginalist approach differed from Taussig’s historical and classical orientation.
Smoot–Hawley Tariff Act: A 1930 United States law that sharply raised tariffs on many imported goods. Taussig’s tariff expertise placed him amid debates over the consequences of high duties.
The Tariff History of the United States: Frank W. Taussig’s historical study of United States tariff policy, first published in 1888. This book established Taussig as a leading historian and analyst of American tariff policy.
Tariff: A tax imposed on imported or exported goods, usually collected by a government. Tariffs were the central policy subject of Taussig’s historical and theoretical research.
Alfred Marshall: A British economist whose Principles of Economics helped establish modern microeconomic analysis. Taussig engaged with Marshall’s synthesis while developing his own treatment of value and trade.