JAMES LAURENCE LAUGHLIN Meaning and
Definition
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James Laurence Laughlin was an American economist and educator who lived from 1850 to 1933. He is primarily known for his influential contributions to the field of economics and the development of the American Economic Association.
Born in New Lisbon, Ohio, Laughlin dedicated much of his life to advancing economic theory and education. He completed his undergraduate studies at Harvard College before attending the University of Leipzig, where he earned his doctorate in economics in 1882. Upon his return to the United States, he became a professor of political economy at Cornell University.
One of Laughlin's key achievements was his role in founding the American Economic Association in 1885. Serving as president from 1903 to 1905, he played a crucial role in shaping the association into a prestigious academic organization that promoted the study and research of economics in the United States.
As an economist, Laughlin was associated with the "American Economic School," advocating for a more protectionist approach to international trade and emphasizing the importance of national economic interests. He published numerous works exploring economic theory and policy, with a particular focus on money and banking.
While his economic views were controversial and diverged from mainstream economic thought of the time, James Laurence Laughlin left a lasting impact on the field. His contributions continue to be studied and discussed by economists to this day.
