Clarence C. Morrison: 1932-2008.(International Atlantic Economic Society )(In memoriam)

To live in hearts we leave behind, is not to die.

Thomas Campbell

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There is a loud silence with the passing of our dear friend and colleague, Clarence C. Morrison, Professor Emeritus, Indiana University at Bloomington. We at the International Atlantic Economic Society (IAES) were deeply saddened by the news and extend our deep sympathies to his wife, Geraldine (Gerry), and their children, Robert and Fred.

Clarence was a good friend and was an integral part of the IAES family since joining the Atlantic Economic Journal (AEJ) Board of Editors in 1977, a position he held until his death in August 2008. He served as the Society's Vice President in 1979-80 and as President in 1995-96. In addition, we were honored to publish several of his works in the AEJ over the course of three decades. They covered a wide variety of topics but the central theme of most of his work dealt with welfare economics and its application to general equilibrium theory.

Ralph W. (Bill) Pfouts (former IAES President) introduced Clarence when Clarence gave his IAES Vice Presidential Address in Boston in 1980. Bill was Clarence's former professor in the Ph.D. program at the University of North Carolina at Chapel Hill and remained a mentor and friend after graduation. You can read Bill's reflections on his former student immediately following these introductory remarks. In the Boston address ("The Lerner Equal Distribution Theorem: A Possible Extension"), Clarence extended Abba Lemer's (former IAES President) equal distribution theorem to the case of ownership dispersion of monopoly firms. Under equal ignorance, ownership dispersion yielded a second-best maximum of the expected sum of satisfaction.

Likewise, in his IAES Presidential Address in Washington, D.C. in 1996 ("A Bully Pulpit"), he continued the analysis of welfare economics. In an economy with only one resource and price-making firms, virtually any price vector is a market-clearing vector if profits are distributed as dividends and consumers correctly anticipate these dividends. Always the realist, Clarence set forth a painless procedure for verifying this counterintuitive fundamental proposition. He drew upon George Stigler's 1964 Presidential Address to the AEA and integrated it with William Vickrey's 1992 IAES Presidential Address. Always the gentleman, Clarence started and finished his "homily" by saying that the International Atlantic Economic Society "has been very ... GOOD .. TO ... ME ... and also has been good to and good for the economics profession."