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Joseph Livingston

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Joseph Livingston
Born(1905-02-10)February 10, 1905
New York City, US
DiedDecember 25, 1989(1989-12-25) (aged 84)
Bucks County, Pennsylvania, US
EducationB.A.
Alma materUniversity of Michigan
OccupationJournalist
Years active1925–1989
Employers
OrganizationSABEW
SpouseRosalie L. Frenger
Children1
Awards

Joseph Arnold Livingston ( (1905-02-10) (1989-12-25)February 10, 1905 – December 25, 1989) was an American business journalist and economist known for his long-running syndicated economics column for which he received a Pulitzer Prize and three Gerald Loeb Awards. He created the Livingston Survey, a twice-yearly economic forecast survey he personally conducted from 1946 until his death in 1989.

Early life

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Livingston was born on February 10, 1905, in New York City.[1] After graduating from De Witt Clinton High School, he studied English at the University of Michigan, receiving his bachelor's degree in 1925.[2][3][4][5]

Career

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Reporter

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Livingston returned to New York City to begin his journalism career as a cub reporter for the Brooklyn Eagle.[6] By late 1927, he was a staff reporter at The Brooklyn Daily Times.[7] In the second half of the 1920s, he also worked at the Queens County News, The Bronx Home News, and Fairchild's Daily News Record.[5]

Financial and economics reporter, editor

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In September 1929, Livingston began an investment club with some of his university friends, which quickly became underwater when the Great Crash shook the stock market a month later.[3] He realized his university education was insufficient for making informed investment decisions, so he took night classes at the City College of New York from 1929 to 1931 to study investing, accounting, statistics, and economic history.[3][4] Armed with new knowledge, he repeatedly begged his editor to move him from general reporting to financial reporting until he was eventually fired.[3]

Livingston joined the New York Daily Investment News, rising to executive editor in 1931, and wrote the "Talking It Over" column. In 1934, he moved to Financial World to be the public utility editor.[3][4]

In 1935, Livingston joined Business Week as an editor and economist.[3][4] He wrote "The Trend" and "Business Outlook" columns until his departure in 1942.[5] During his tenure, he developed his "story chart" technique, which used charts to dramatically and quickly convey economic information.[4] He extracted the real story from the data, then presented it in a way that the chart and captions clearly expressed everything that was part of the real story and nothing else.[8]

World War II

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Livingston put his journalism career on hold in 1942 to work as an economist for the U.S. government during World War II.[5][3] He worked for the War Production Board to help start War Progress, an internal weekly report distributed among the various war agencies.[8] The reports were noted for Livingston's use of his story charts to concisely deliver information.[8] He served as editor for the publication and became the economic assistant to Chief of Operations Hiland G. Batchellor.[5] In 1944, Livingston wrote a public affairs pamphlet entitled "Reconversion – the Job Ahead" and assisted in the production of two of the Board's "Critical Programs" reports.[5] He transferred to the Office of War Mobilization and Reconversion in 1945 to help compile analytical and statistical reports for the government.[5]

Livingston Survey

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Main article: Livingston Survey

After the war, Livingston joined The Philadelphia Record in 1945 as the financial editor.[4] The following year, he began sending a detailed questionnaire to economists around the U.S. asking for their forecasts of several economic variables for the next six, twelve, and eighteen months.[4] He conducted the survey, which came to be known as the Livingston Survey, every six months for the rest of his life.[4] In 1978, the Federal Reserve Bank of Philadelphia digitized Livingston's historical data to make it available to researchers.[4] The Bank took over conducting the survey after his death in 1989.[4] The survey is the longest continuous record of economists expectations.[4]

Economics columnist

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When the Record closed in 1947, Livingston moved to The Washington Post, where he started writing his semi-weekly "Minding Your Business" column.[5] The column was renamed "Business Outlook" after a few months and was nationally syndicated later in the year, eventually being printed in over 70 newspapers.[1][5][9] He continued writing the syndicated column for the rest of his life.[4][5]

External image
image icon Joseph Livingston speaks to student protesters, september 1969 [10]

Livingston was hired by The Philadelphia Bulletin in 1948 to be their financial editor.[5] In 1964, he visited Yugoslavia, Poland, Bulgaria, and Czechoslovakia to research the prospects of trade between the U.S. and Eastern Bloc countries.[9] He toured factories and interviewed government officials at all levels.[9] His research resulted in a six-part series entitled "The Powerful Pull of the Dollar" that earned him the 1965 Pulitzer Prize for International Reporting.[9][11] He stepped down as financial editor in 1968 to focus on outside writing, but continued as an economics columnist.[5][12]

A 1970 column reporting on his six-week investigation into Howard Butcher and suspicious transactions involving Penn Central stock earned Livingston the 1971 Gerald Loeb award for newspapers.[13][14] While still writing for the Bulletin, Livingston taught an economics class ("Seminar on Contemporary Economic Trends") at Temple University in 1971 and 1972.[5]

In 1972, Livingston left the Bulletin for The Philadelphia Inquirer, where he continued writing his economics columns and co-wrote a regular chess column.[5] His decades as a financial writer were honored in 1974 by the first Gerald Loeb Memorial Award.[15] He wrote a 5-part series of columns in 1975 entitled "The Second Battle of Great Britain" on the country's economic difficulties that earned him both the 1975 Bache Halsey Stuart Award from the Overseas Press Club and the 1976 Gerald Loeb award for Columns/Editorial[16][17] In 1981, Livingston spent more than five weeks in Britain interviewing government officials, bankers, businessmen, labor leaders, workers, and members of Parliament for a five-part series entitled "English Lessons for America" that compared the U.S. and British economies and earned him the 1981 Overseas Press Club award for Best Business News Reporting from Abroad.[18][19][20]

Book

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Livingston's book, The American Stockholder, was published in 1958.[5] The book discusses the role of stockholders, finding that the average stockholder plays an insignificant role.[21]

Radio

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In 1961, Livingston recorded the miniseries The Evolution of the American Economic Revolution for the Voice of America.[5]

Livingston contributed the "Business Page" feature on WCAU radio's Evening Edition from 1962 to 1964.[5][22][23]

Personal life

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Livingston met Rosalie Logise Frenger while they were both students at the University of Michigan.[2][24] Rosalie, born October 19, 1903, in Las Cruces, New Mexico Territory, was the daughter of Clara Jacoby and New Mexico District Judge Numa C. Frenger.[25] She was a correspondent for the El Paso Times and the El Paso Herald, and was a teacher at the Las Cruces Union High School.[2] They married on September 26, 1927, at the Frenger family home in Las Cruces in a ceremony presided over by her father.[2]

The couple initially lived in the Bronx.[2] Rosalie joined an insurance company in 1928 as an editorial writer, and worked as an editor for Young Dancer magazine in the 1930s.[26][27] They lived in the New York City area until 1942, when they moved to the Washington, D.C., area.[5]

Livingston resumed investing his investment club's money in 1932 and 1933.[3] The club's portfolio finally became profitable in 1935.[3] His friends, not wanting to press their luck, decided to cash-out and dissolve the club.[3] Livingston and his wife used their proceeds to purchase a farm in Bucks County, Pennsylvania.[3] After the war, they lived in Philadelphia, then returned to Washington, D.C., in 1947. In 1948, they finally settled on their farm in Bucks County while maintaining an apartment in Center City, Philadelphia.[4][5]

Their daughter, Patricia, was born in 1942.[5][28] She graduated from Westtown School and Middlebury College, and received her master's degree from the University of Pennsylvania.[29] In 1967, she married Mathew Herban III.[29] She received her PhD in English from the University of Pennsylvania in 1973.[30]

Livingston served as the president of The Franklin Inn Club in 1955.[5] He helped organize the Society of American Business Editors and Writers (SABEW), serving two terms as its first president in 1964 and 1965.[5][31]

On December 25, 1989, Livingston collapsed while preparing to leave his farm.[4] He was pronounced dead at Doylestown Hospital.[4] Rosalie died in Columbus, Ohio, on February 22, 1992, while visiting her daughter.[24] The couple are buried side-by-side at Forest Hills Cemetery in Ann Arbor, Michigan.[24]

Awards

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Selected bibliography

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  • The American Stockholder. 1958. Philadelphia and New York: J. B. Lippincott Company. 290 pages.
  • "The Powerful Pull of the Dollar" series – winner of the 1965 Pulitzer Prize for International Reporting
  1. "East Europe Asks Capitalistic Aid", November 8, 1964[35]
  2. "Communists Borrow Capitalist Techniques", November 15, 1964[36]
  3. "Yugoslavia Treads Capitalistic Byways", November 22, 1964[37]
  4. "West Europe Is Chessboard of Geopolitics", November 29, 1964[38]
  5. "Russians Seek Trade, But on Equal Status", December 6, 1964[39]
  6. "Trade Arguments Called Fallacies", December 13, 1964[40]
  • "Howard Butcher: Broker With Too Much At Once", December 6, 1970[13] – winner of the 1971 Geral Loeb award for Newspapers
  • "The Second Battle of Great Britain" series – winner of the 1975 Bache Halsey Stuart Award and the 1976 Gerald Loeb award for Columns/Editorial
  1. "Britain Faces Second Battle", July 13, 1975[41]
  2. "Wage Freeze Pivotal in Second Battle of Britain", July 14, 1975[42]
  3. "Status of the Pound Shows Monetary Optimism", July 15, 1975[43]
  4. "Britain's Industrial Troubles Keep Growing Worse", July 16, 1975[44]
  5. "The 'Second Battle of Britain' Must Be Won, Too", July 17, 1975[45]
  • "English Lessons for America" series – winner of the 1981 Overseas Press Club award for Best Business News Reporting from Abroad
  1. "English Lessons for America", August 2, 1981[46]
  2. "U.S., Britain are alarmingly alike in lag", August 3, 1981[47]
  3. "The 'Iron Lady' doesn't bend to labor", August 4, 1981[48]
  4. "Postwar issue: Unemployment versus inflation", August 5, 1981[49]
  5. "What an economy needs: The moral equivalent of war". August 6, 1981[50]

See also

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References

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  1. ^ a b Osir, Jeremy (March 2013). "Joseph Livingston: 1905–1989. Philadelphia Bulletin, Philadelphia Inquirer". Society of American Business Editors and Writers. Retrieved April 10, 2020.
  2. ^ a b c d e "Rosalie Frenger is married in Las Cruces". The El Paso Times. Vol. 47, no. 260. September 17, 1927. p. 3. Retrieved March 30, 2020 – via Newspapers.com.
  3. ^ a b c d e f g h i j k Livingston, Joseph A. (October 28, 1979). "An idea whose time hadn't come". The Philadelphia Inquirer. Vol. 301, no. 120. p. 18 Today section. Retrieved March 30, 2020 – via Newspapers.com.
  4. ^ a b c d e f g h i j k l m n o Waters, Robert L.; Rubin, Daniel (December 26, 1989). "Joseph A. Livingston, columnist, dies at 84". The Philadelphia Inquirer. Vol. 320, no. 360. pp. 1-A, 10-A. Retrieved February 28, 2020 – via Newspapers.com.
  5. ^ a b c d e f g h i j k l m n o p q r s t u v "Joseph A. Livingston Papers". Temple University Libraries. Retrieved April 9, 2020.
  6. ^ Binzen, Peter (December 28, 1989). "Joe Livingston: A journalist who never stopped questioning". The Philadelphia Inquirer. Vol. 320, no. 362. p. 19-A. Retrieved March 30, 2020 – via Newspapers.com.
  7. ^ "Livingston-Frenger". The Brooklyn Daily Times. October 2, 1927. p. 7. Retrieved March 30, 2020 – via Newspapers.com.
  8. ^ a b c Stein, Herbert (April 1990). "Joseph A. Livingston". Business Economics. 25 (2). Springer. Retrieved April 10, 2020 – via Gale in Context: Environmental Studies.
  9. ^ a b c d e "Trips behind iron curtain basis for prize". St. Louis Post-Dispatch. Vol. 87, no. 123 (Final ed.). United Press International. May 4, 1965. p. 7C. Retrieved March 29, 2020 – via Newspapers.com.
  10. ^ "Writer Joseph A. Livingston Speaks to Student Protesters, September 1969". Ann Arbor District Library. 1969. Retrieved December 20, 2020.
  11. ^ a b "J. A. Livingston of Philadelphia Bulletin". The Pulitzer Prizes. Retrieved April 13, 2020.
  12. ^ "This Man's 'ALL BUSINESS'". The Courier-Journal. Vol. 226, no. 90. March 30, 1968. p. B3. Retrieved April 14, 2020 – via Newspapers.com.
  13. ^ a b Livingston, J. A. (December 6, 1970). "Howard Butcher: Broker With Too Much At Once". The Clarion-Ledger. Vol. XVII, no. 9. pp. 20E–21E. Retrieved April 13, 2020 – via Newspapers.com.
  14. ^ a b "UConn names Loeb winners". Hartford Courant. Vol. CXXXIV, no. 142 (Final ed.). May 22, 1971. p. 16. Retrieved February 14, 2019 – via Newspapers.com.
  15. ^ a b "Livingston honored for business writing". The Philadelphia Inquirer. Vol. 290, no. 169. June 18, 1974. p. 1-B. Retrieved February 27, 2019 – via Newspapers.com.
  16. ^ a b "Livingston is cited by Overseas Press Club". The Clarion-Ledger. Vol. XXII, no. 34. May 23, 1976. p. 6-H. Retrieved April 10, 2020 – via Newspapers.com.
  17. ^ a b "Gerald Loeb Awards given to top business journalists". Colorado Springs Gazette-Telegraph. July 25, 1976. p. 2-F. Retrieved February 14, 2019 – via Newspapers.com.
  18. ^ "Livingston in Britain: How this series was written". The Philadelphia Inquirer. Vol. 305, no. 33. August 2, 1981. p. 17-A. Retrieved April 14, 2020 – via Newspapers.com.
  19. ^ a b "Best Business News Reporting from Abroad 1981". Overseas Press Club of America. April 15, 1982. Retrieved April 14, 2020.
  20. ^ a b "Livingston receives award". The Philadelphia Inquirer. Vol. 306, no. 119 (Sports Final ed.). April 29, 1982. p. 2-A. Retrieved April 10, 2020 – via Newspapers.com.
  21. ^ Bayless, Manning (1958). "Livingston: The American Stockholder". The Yale Law Journal (PDF). 67 (8): 1477–1496. doi:10.2307/794012. ISSN 0044-0094. JSTOR 794012.
  22. ^ "Financial opportunities". The Philadelphia Inquirer. Vol. 268, no. 7 (Final City ed.). January 7, 1963. p. 51. Retrieved April 14, 2020 – via Newspapers.com.
  23. ^ "Evening Edition on WCAU Radio... nine men... one year". The Philadelphia Inquirer. Vol. 269, no. 101 (Final City ed.). October 9, 1963. p. 22. Retrieved April 14, 2020 – via Newspapers.com.
  24. ^ a b c "Rosalie L. Livingston, widow of the columnist". The Philadelphia Inquirer. Vol. 325, no. 58. February 27, 1992. p. D10. Retrieved April 15, 2020 – via Newspapers.com.
  25. ^ "Judge Numa C. Frenger Died Today". Clovis News-Journal. Vol. 17, no. 62. Associated Press. June 12, 1945. pp. 1, 6. Retrieved April 9, 2020 – via Newspapers.com.
  26. ^ "News from our Nearby Neighbors". El Paso Herald. Vol. 48, no. 259 (Home ed.). October 31, 1928. p. 12. Retrieved April 15, 2020 – via Newspapers.com.
  27. ^ "Las Cruces, State College and Mesilla Park Social News". El Paso Times. Vol. 57, no. 164. June 13, 1937. p. 16. Retrieved April 15, 2020 – via Newspapers.com.
  28. ^ "Livingstons Are Parents Of Daughter". The El Paso Times. Vol. 62, no. 276. October 3, 1942. p. 6. Retrieved April 9, 2020 – via Newspapers.com.
  29. ^ a b "Miss Livingston, Mathew Herban, 3d, Married Saturday". The Philadelphia Inquirer. Vol. 277, no. 58. August 27, 1967. pp. 2–4. Retrieved April 16, 2020 – via Newspapers.com.
  30. ^ "Patricia L. Herban". University of Pennsylvania Department of English. Retrieved April 16, 2020.
  31. ^ "SABEW History & Past Presidents". Society for Advancing Business Editing and Writing. Archived from the original on April 1, 2020.
  32. ^ "Awards Recipients". Overseas Press Club of America. Retrieved April 10, 2020.
  33. ^ a b "Livingston Winner". The Evening Press. Vol. 90, no. 296. March 28, 1969. p. 1-C. Retrieved April 9, 2020 – via Newspapers.com.
  34. ^ "Livingston, Barlett and Steele Win Hancock Writing Awards". The Philadelphia Inquirer. Vol. 290, no. 170. June 19, 1974. p. 12-C. Retrieved April 9, 2020 – via Newspapers.com.
  35. ^ Livingston, J. A. (November 8, 1964). "East Europe Asks Capitalistic Aid". Minneapolis Tribune. Vol. XCVIII, no. 168 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  36. ^ Livingston, J. A. (November 15, 1964). "Communists Borrow Capitalist Techniques". Minneapolis Tribune. Vol. XCVIII, no. 175 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  37. ^ Livingston, J. A. (November 22, 1964). "Yugoslavia Treads Capitalistic Byways". Minneapolis Tribune. Vol. XCVIII, no. 182 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  38. ^ Livingston, J. A. (November 29, 1964). "West Europe Is Chessboard of Geopolitics". Minneapolis Tribune. Vol. XCVIII, no. 189 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  39. ^ Livingston, J. A. (December 6, 1964). "Russians Seek Trade, But on Equal Status". Minneapolis Tribune. Vol. XCVIII, no. 196 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  40. ^ Livingston, J. A. (December 13, 1964). "Trade Arguments Called Fallacie". Minneapolis Tribune. Vol. XCVIII, no. 203 (Sunday ed.). pp. 5C, 7C. Retrieved April 13, 2020 – via Newspapers.com.
  41. ^ Livingston, J. A. (July 13, 1975). "Britain Faces Second Battle". The Philadelphia Inquirer. Vol. 293, no. 13. pp. 3-F, 8-F. Retrieved April 14, 2020 – via Newspapers.com.
  42. ^ Livingston, J. A. (July 14, 1975). "Wage Freeze Pivotal in Second Battle of Britain". The Philadelphia Inquirer. Vol. 293, no. 14. p. 5-B. Retrieved April 14, 2020 – via Newspapers.com.
  43. ^ Livingston, J. A. (July 15, 1975). "Status of the Pound Shows Monetary Optimism". The Philadelphia Inquirer. Vol. 293, no. 15. p. 8-C. Retrieved April 14, 2020 – via Newspapers.com.
  44. ^ Livingston, J. A. (July 16, 1975). "Britain's Industrial Troubles Keep Growing Worse". The Philadelphia Inquirer. Vol. 293, no. 16. p. 6-B. Retrieved April 14, 2020 – via Newspapers.com.
  45. ^ Livingston, J. A. (July 17, 1975). "The 'Second Battle of Britain' Must Be Won, Too". The Philadelphia Inquirer. Vol. 293, no. 17. p. 6-B. Retrieved April 14, 2020 – via Newspapers.com.
  46. ^ Livingston, J. A. (August 2, 1981). "English Lessons for America". The Philadelphia Inquirer. Vol. 305, no. 33. pp. 1-A, 17-A. Retrieved April 14, 2020 – via Newspapers.com.
  47. ^ Livingston, J. A. (August 3, 1981). "U.S., Britain are alarmingly alike in lag". The Philadelphia Inquirer. Vol. 305, no. 34 (Sports Final ed.). pp. 1-A–2-A. Retrieved April 14, 2020 – via Newspapers.com.
  48. ^ Livingston, J. A. (August 4, 1981). "The 'Iron Lady' doesn't bend to labor". The Philadelphia Inquirer. Vol. 305, no. 35 (Sports Final ed.). pp. 7-B, 14-B. Retrieved April 14, 2020 – via Newspapers.com.
  49. ^ Livingston, J. A. (August 5, 1981). "Postwar issue: Unemployment versus inflation". The Philadelphia Inquirer. Vol. 305, no. 36 (Sports Final ed.). pp. 1-C, 7-C. Retrieved April 14, 2020 – via Newspapers.com.
  50. ^ Livingston, J. A. (August 6, 1981). "What an economy needs: The moral equivalent of war". The Philadelphia Inquirer. Vol. 305, no. 37 (Sports Final ed.). pp. 1-C, 6-C. Retrieved April 14, 2020 – via Newspapers.com.
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