John Monroe and
the Institute for Economic Inquiry

Frank H. Crane

[On John Monroe's Institute for Economic Inquiry. Reprinted from The Indianapolis Star Magazine, 26 August, 1962]

SOCRATES' METHOD of searching out truth by asking questions still has adherents. And it still works.

It is the method of the Institute for Economic Inquiry, an organization based in Chicago whose mission is to spread among adults a knowledge and understanding of the facts of economic life.

Three small study groups of Indianapolis people made an acquaintance with the IEI last spring. Two groups meeting at Indianapolis Morris Plan and a third at Bridgeport Brass Company, 12 to 15 persons in each group, spent 10 weeks going through the institute's basic course in economics.

This course begins with a listing and evaluation of the most important problems facing the nation today. Here is where the use of the question method begins. The group is not presented with a list of problems to consider, but drafts its own list. Then it takes up man's use of his skills and resources, and explores the nature and workings of such things as rent, wages and prices. It analyzes the cycle of boom and bust, searching for causes and effects. It concludes with consideration of things that influence growth and progress, and the possibilities of controlling recession and depression.

For those who want to go farther and a large proportion of those taking the basic course do -- there is an advanced course. It explores practical applications of principles discussed in the basic course. It gets into such things as ways of raising wages, profit sharing, government direction, the effects of government spending and taxation.

There are no textbooks for these studies, no textbook answers for the problems that are raised. On the basis of study and experiment the institute has evolved a pattern of topics and boundaries to have purpose and continuity to the course of inquiry. But it is just that -- inquiry.

The group members, meeting around a table for two-hour sessions once a week, start with their own ideas on the topics, analyzing and developing their own thinking and discussion. It's not done by laying down prepared declarations or copybook principles, but by questions, questions and more questions.

IS IT worth while? Here are the answers of some of those who participated in the Morris Plan groups.

"It surprised me that there was so much to talk about," said Mrs. Kay Lounsbury. "Looking at the subjects beforehand I wondered what anyone would find to say about them. But in a little while everyone would have things to say.

"Sessions supposed to end at 7:30 sometimes went on to 8:30. Yet I went, home at 8:30 on these nights less tired than at 5:30 on other nights. One night I was so stimulated that I went home and ironed until midnight. And I hate to iron."

Said Bill Herron: "I found this a very good way to get basic knowledge and understanding of economic ideas. I don't know whether I learned anything I didn't really already know. But these discussions helped to organize ideas better and relate them."



THE GROUP leader, of course, must put much more time and energy into the project than the participants.

"It was a joy to lead discussion with people so willing to discuss, so interested," said John T. Stiles, one of the leaders. "It was a chance to relate economic facts to daily operations. It took a tot of time, but I'm ready to do it again."

Mark K. Baer put his reaction this way:

"I feel that in our struggle for economic survival our biggest enemy is going to be ourselves. We have to understand what we have and what we have to do to keep it. We have to keep before us the fact that we had to struggle to get this system and we will have to struggle to keep it. Studies like this can help us to understand our system and how it compares with the Communist system."

The sponsoring firm utilizes its facilities to provide organizational leadership and get the paperwork done, and provides a meeting place. Although participants do it on their own time, inescapably some of the sponsoring firm's time gets involved. What does the firm get out of it?

It doesn't get anything more tangible than satisfaction in the enterprise. This is a fact which helped change the institute's pattern of operations to what it is now. At one time the institute sought to finance itself by selling the course on a fee basis to the sponsoring firm. But it found that too many firms expected something of more measurable gain for that kind of investment.

SO, EXPLAINS John L. Monroe of Chicago, director of the institute, the idea, the course patterns and materials, and all desired help and guidance now are provided without charge. The institute sustains itself by the dues and contributions of members. There is no necessary relationship between membership or contribution and the study group operation.

Neither the sponsoring firm nor any participant is asked to take membership or contribute in connection with a study group. Experience of the institute is that enough firms and individuals become interested in the operation, and willing to aid it, to keep it going.

Robert D. Hammer, vice-president of Indianapolis Morris Plan, since the firm's participation in the program last spring has been elected to the board of trustees of the institute. He thinks the project is well worth while from the sponsor's viewpoint.

"I believe," he said, "that a company which makes its living in the American economic system has a responsibility to help keep the-system alive and working. This is done in part by promoting understanding of the system. And who is to choose who should have the opportunity for this kind of learning? This program offers it to anyone who wants it"

Al Ackerman was disappointed that there were no summaries of the discuss ions, to be kept for analysis and future reference. "I felt that the discussions were very free," he said. "There wasn't any attempt at brainwashing or feeding us ideas. Definite differences of opinion came out sometimes. I don't think my mind was changed and I don't suppose others were. But it was good to talk about these things."

Charles Kilgore majored in economics at Ohio Wesleyan and Butler, and he also figured the sessions were useful. "I found it refreshing." he said. "It's very good to stimulate people's interest in economic affairs. Too many of us tend to leave this interest in the classroom when we leave school.

"In these particular times this is especially important because of the role of economics in political affairs. Seems so many people don't think of this, don't take the trouble to understand economics and relate it to political situations."

Others also remarked on the relevancy of these studies to politics, suggesting they would be useful not only to voters but also to people in public life.

Another result, noted by several, was an increased interest in economic and financial articles in newspapers and other media. They said they are more inclined to read such news, and do so with more confidence that they understand it.

Hammer expects to lead a move to organize more study groups here in the fall. Working with him will be Lewis Scott of the L.F. Scott Company, 6215 Carrrollton Avenue, who led the project of organizing the groups last spring. Scott has been an enthusiastic supporter of the institute since he took its studies in Chicago in the early years of the operation.