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Page Six

SCARLEI XNU SLACK

Friday, October I. "6|

 

Dawson Studies English Economy,
Observes lomlon'siﬁglter Education

By RONALD LANE

John C, Dawson (economics)
spent his leave last year in Lon-
don doing research on the English
financial system and observing
English higher education He spent
much of his time at the London
School of Economics.

Dawson commented about the
English higher educational system
saying. “I visited classes irorn
time to time to see how they op»
ei-tited. The British undergradu-
ates in economics, especially the
seniors, are quite a bit further
along than those in the country.
They are reading the journals and
basic works of the field instead
of text books."

Graduate Level Law

“On the other hand," he went
on to say, "the graduate level ed-
ucatlon is not as well developed
[here as it is here The LDnan
School of Economics has recently
started offering a course program
tor its master's degree in econo-
mics. The school does not yet care
ry iormal graduate study as tar
as we do in the U.S.7IH fact this
can apply to all social studies and
not just to economics.

Dawson continued by saying that
"it used to be that Oxford, Cam-
bridge, and London were the only
real centers of higher learning in
England, but now the new regional
universities are looking very good
>such as the University or Sussex,
and the University at Essex."

Dawson said that there are no

 

liberal arts colleges in England
“for everyone there goes to a unl~
versity tor a particular tield or
study."

Dawson's research consisted of
working on the national financial
accounts for the United Kingdom—
in particular the statistics or var-
ious hairbank financial Institutions
such as insurance companies and
building societies.

His field or specialization is what
is called “llowofrfunds analysis."

He said that he “wanted to see
what the British were doing in
this field” and to use these data
in his analysis or the British econ-
only.

He knew they were “somewhat
behind in these developments."
but he saw that they were “prim
gressing very rapidly." However,
they had not yet put together the
particular data he was seeking.
They lacked a financial statement
for all the non-bank financial
institutions.

The “Old Lady"

Dawson contributed to the sta-
tistical work being done at the
Bank or England and observed
that the “Old Lady of Threadneedle
Street" was a “colorful institu-
tion.”

“It (the bank) is one or the
oldest central banks in the world,
much like a very inscrutable old
lady—very conservative," said
Dawson “The guards still wear
bright red vests, rosecoiored tails,
and black top hats. Although the

 

managing and the decision-making
in this batik were secret, the re-
search department was very help-
ful."

“In the‘Eank of England," com-
mented Dawson, “everyone start—
ed as a clerk and worked up irom
there. This is typical. Professional
economists are just starting to ap-
pear In business and government.
except for a few economic advise
ers in high places.”

Enormous Cultural Life

Dawson also expressed his enthuv
siasni tor London, noting that
”just by living there, one becomes
automatically interested in archi-
tecture, history. literature, and
the arts.”

“London has an enormous cula
tural life," said Dawson. "The
theaters are numerous, excellent,
and less expensive than they are
here. London has rive symphony
orchestras and the renowned CovA
enant Gardens ballet and opera."

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He also noted that the “English
people are unfailingly polite, The
class structure that used to be so
pronounced IS gradually becoming
blurred. This my possibly began
in World War it when they were
all in the bombings together. The
educational system is also become
ing more and more democratic.
although there are still some very
excluswe private schools.“

Bus Serviee Good

“Many things in London don’t
appear uptodate to Americans
who are likely to be critical of
the lack or modern household ap~
pliances,” Dawson pomted out.
He went on to say that the "public
transportation system is very
good. You never have to wait
more than tive minutes for a bus,
which is good tor a sprawling
city.”

“There is one conﬂict that the
British have to face from the
point of view of the national econo-
mic level," said Dawsmi, “It they
try to develop domestically as ra-

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pidly as they would like to, their
balance oi international payments
will be upselr To solve the later
they have to slow the former. They
thus call it a ‘stop and go’ economy.
International trade is, oi course,
a more important aspect of the
British economy than of the Ameiu
ican economy."

“Another problem for the Britv
ish is that, as they become more
modernized, many of the pleasant—
ei- parts at their traditional way
at life may disappear. improved
housing and highways could mar
ihe beauty oi the countryside, In
many or the older towns there
are 14th, 15th, and 16th Century
buildings that cannot remain it dea
cent roads are to be had. This is
a serious problem at Oxiord,"

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