FINDING A "BRAINS TRUST"

Evening Post, Volume CXX, Issue 154, 27 December 1935, Page 6

FINDING A "BRAINS TRUST"

The Christmas gift made by Mr. Thomas Lamont to Harvard University is remarkable because of its purpose 'and Mr. Lamont's observations. The donation of 500,000 dollars is for the engagement of , a scholar preeminent in the field of political economy. In his observations on the teaching of economics Mr. Lamont deprecates division along conservative and radical lines, and commends "those principles which take into account experiences of the past and at the same time are alive to the needs and aspirations of the present." This is the political economy that President Roosevelt sought when Jie formed his .''brains trust." He wanted the experience of the past applied in a practical way to the problems of the present. With what he was given he was not satisfied, and no wonder. Political economy is not an exacL science to begin with, but President Roosevelt expected pure science and applied science, and both to be exact. Had he ex-

peeled less he might have been less disappointed.

Great Britain has never had a "brains trust," but long before llie depression she had economic, financial, and trade experls permanently associated with the Treasury, llie Bank of England, and the Board of Trade. They supplied fads and theories, and the political leaders applied those facts and theories to the problems of the day in llie light of their knowledge of the people. ITial is at root the main problem—application of theories in practical ways that will be acceptable lo the people. Mr: Lamont's pre-eminent political economy professor may be fully acquainted with ihc experience of the past, and alive lo the needs and aspirations of the present, but, when he has evolved the. right plan, he or his political collaborators have yet the hardest part of their task left — to'prove to the public that the plan is right. If they fail, the public will prove that the plan is wrong because the incalculable human factor has been misjudged.