Charles William Macfarlane

Background

Charles William Macfarlane was born on November 5, 1850, in Philadelphia, Pennsylvania. He was of Scotch ancestry, the youngest son of David and Catherine (Macfarlane) Macfarlane.

Education

After preparatory work in the Philadelphia Central High School, Macfarlane attended Lafayette College for a year, then transferred to Lehigh University, from which institution he received the degree of civil engineer in 1876.

He remained at Lehigh University for postgraduate work in analytical chemistry, later entering the employment of a Philadelphia manufacturing concern, William Sellers & Company. In 1888-89, he engaged in graduate study at the University of Pennsylvania, emphasizing philosophy, history, and economics.

He then continued his studies in Germany, receiving the degree of Ph. D. at Freiburg, Baden, in 1893. The remainder of his life was spent in study and writing.

Career

Macfarlane's first two years were spent at manual labor in the shops, after which apprenticeship he served as superintendent of the foundry department for seven years. During these days he spent his evenings in study and writing, particularly on Canons of Criticism (1885).

Eventually, he entered business for himself. His operations were chiefly confined to the building of residences in West Philadelphia; he was his own architect, supervisor of building operations, and business manager. When he had attained a small fortune he decided to retire from business and to devote his time to intellectual pursuits. He died in Philadelphia after years of failing health.

In 1893, he published The Ultimate Standard of Value, translated from the German of the Austrian economist, Eugen B"hm von Bawerk. Several of his monographs on economic subjects were published by the American Economic Association and the American Academy of Political and Social Science.

The later years of his life, he devoted to the collection of material for an economic history of Rome. Unable to finish the work, he directed that his library and source material be given to Lehigh University with the understanding that this project be brought to completion.

He also endowed at that institution chairs of philosophy and economics. In February 1931, a few months before his death, several of his works were collected by his wife and published under the title Science and Literature.

Achievements

• Macfarlane's chief theoretical work in economics was Value and Distribution, published in 1899 and republished in 1911. It was an exposition of the Austrian School, attempting a reconciliation of this new approach with the older one of the British classical economists. His best-known work in applied economics was The Economic Basis of an Enduring Peace (1918) which was chiefly devoted to a discussion of the distribution of the coal lands of Germany, France, and Belgium.

Works

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  • Value and Distribution: An Historical, Critical, and Constructive Study in Economic Theory, Adapted for Advanced and Post-Graduate Work

    ( This work has been selected by scholars as being cultur...)

  • Canons of Criticism: An Introduction to the Development of English Poetry 1885

    (Originally published in 1885. This volume from the Cornel...)

  • Some Observations on the Economic Interpretation of Early Roman History: -1915

    (Originally published in 1915. This volume from the Cornel...)

  • The place of philosophy and economics in the curriculum of a modern university;: Read in part as the Founder's day address, Lehigh university, October 4th, 1913,

Personality

Macfarlane and his wife spent most of their lives in Philadelphia, but long visits were made to Europe, especially to France.

Connections

During his collegiate years at Bethlehem, Macfarlane made the acquaintance of Kathleen Selfridge, a gifted singer, whom he married on March 8, 1883.

Father:

David Macfarlane

Mother:

Catherine (Macfarlane) Macfarlane

Wife:

Kathleen Selfridge