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CONTROLLING FACTORS IN

ECONOMIC DEVELOPMENT

The Brookings Institution-Devoted to Public Service through Research and Training in the Social Sciences-was incorporated on December 8, 1927. Broadly stated, the Institution has two primary purposes: the first is to aid constructively in the development of sound national policies; and the second is to offer training of a supergraduate character to students of the social sciences.

The responsibility for the final determination of the Institution's policies and its program of work for the administration of its endowment is vested in a self-perpetuating board of trustees. It is the function of the trustees to make possible the conduct of scientific research under the most favorable conditions, and to safeguard the independence of the research staff in the pursuit of their studies and in the publication of the results of such studies. It is not a part of their function to determine, control, or influence the conduct of particular investigations or the conclusions reached, but only to approve the principal fields of investigation to which the available funds are to be allocated, and to satisfy themselves with reference to the intellectual competence and scientific integrity of the staff. Major responsibility for "formulating general policies and coordinating the activities of the Institution" is vested in the president. The by-laws provide also that "there shall be an advisory council selected by the president from among the scientific staff of the Institution."

Authors of studies published by the Institution have had the advice, criticism, and assistance both of an administrative officer and of a cooperating committee selected from the staff. In manuscript accepted for publication, the author has freedom to present his final interpretations and conclusions, although they may not necessarily be concurred in by some or all of those who cooperate with him or by other members of the staff. The Institution in publishing the work assumes the responsibility that it meets reasonable tests of scholarship and presents data and conclusions worthy of public consideration.

BOARD OF TRUSTEES

WILLIAM R. BIGGS, Chairman

HUNTINGTON GILCHRIST,

Vice Chairman

ROBERT PERKINS BASS

DANIEL W. BELL

MRS. ROBERT S. BROOKINGS

DAVID K. E. BRUCE

KARL T. COMPTON

HAROLD G. MOULTON, President
LEWIS MERIAM, Vice-President

JOHN S. DICKEY

HAROLD W. Dodds

LEVERETT LYON

HAROLD G. MOULTON

JOHN LEE PRATT

LESSING ROSENTHAL

HARRY BROOKINGS WALLACE

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COPYRIGHT 1949 BY

THE BROOKINGS INSTITUTION

Set up and printed

Published June 1949

Printed in the United States of America
George Banta Publishing Company
Menasha, Wisconsin

06-2-507W

Trans; Direct 10-20-49

To My Wife Frances Rawlins Moulton

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