E.C. Harwood

Edward C. Harwood (October 28, 1900 – December 16, 1980) was an economist who founded the American Institute for Economic Research (AIER) in 1933. Harwood graduated from the U.S. Military Academy in 1920. He went on to attend Rensselaer Polytechnic Institute (RPI) before being appointed an Assistant Professor of Military Science and Tactics at Massachusetts Institute of Technology (MIT). While at MIT, Harwood became interested in economics, particularly money-credit problems, and began an intensive study on the topic. With the encouragement of MIT Vice President Vannevar Bush, Harwood founded AIER in 1933 to provide independent research to the public on current economic conditions. His earliest publications include Cause and Control of the Business Cycle and What Will Devaluation Mean to You?

E.C. Harwood

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12/22/19

The Demolition of Keynesianism

The talents of economists have been consciously or unconsciously prostituted in the interests of political expediency.
E.C. Harwood

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11/11/19

Free Competition Is Voluntary Cooperation

Unlike the competition in games where some lose what the victors win, and unlike war where even the winner may lose more than he gains, freely competitive economic behavior enables each participant t.o gain the greatest possible reward by voluntarily cooperating .
E.C. Harwood

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8/9/18

The Counterrevolution

Fascism often is discussed as though it were the opposite of communism, but such is not precisely the case. Hitler, Mussolini, and Stalin were different in many respects; but the principles of their economic ideologies were the principles of socialism; their initial appeal was to the underprivileged; and the final result, a new despotism, was…
E.C. Harwood

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2/15/18

Harwood’s Letter to Keynes, 1934

Dear Mr. Keynes: Much of your open letter to President Roosevelt, seems so appropriate to be above criticism…. Unfortunately, portions of your advice seem somewhat perplexing.