120:, which ensured the observed effect given the method of grouping of the observed results that Secrist had used. Secrist stated in his preface that in addition to exhaustive testing of his results on different areas of business, he had asked 38 American and European statisticians and economists to review them. The book has since been frequently used as a bad example in publications on statistics.
61:
He began his teaching career at
Brigham Young University, and later was an instructor at the University of Wisconsin. In 1918 he joined Northwestern University, where he spent most of his career, becoming a professor of economics and statistics and director of the Bureau of Economic Research. He
107:
and of businesses in 73 other fields, he argued that over time, competitive forces under free enterprise cause the success of better-run businesses to decline and that of weaker businesses to increase, leading to an inevitable predominance of mediocrity in
American business; Secrist recommended
456:, July 3, 1933, p. 6: "So long as competition is free, neither superiority nor inferiority will tend to persist. Rather mediocrity tends to become the rule." "Complete freedom to enter trade, and continuation of competition, mean the perpetuation of mediocrity."
1262:
58:, where he earned a bachelor's degree in economics in 1907 and a PhD in 1911 with a dissertation titled "An Economic Analysis of the Constitutional Restrictions Upon Public Indebtedness in the United States".
1303:
296:
Horace
Secrist, "An Economic Analysis of the Constitutional Restrictions upon Public Indebtedness in the United States", PhD dissertation, University of Wisconsin, 1911,
74:
1293:
1131:
Banking Ratios: A Study of the
Operating Results of Member Banks with Special Reference to the Twelfth Federal Reserve District and to California
398:
182:
Banking Ratios: A Study of the
Operating Results of Member Banks with Special Reference to the Twelfth Federal Reserve District and to California
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pointed out in a review, and in a subsequent rebuttal of
Secrist's response, that this argument constituted a misunderstanding of
97:
Secrist published thirteen textbooks in statistics and economics. In several of his publications on economics, particularly in
745:
An
Introduction to Statistical Methods: A Textbook for College Students, a Manual for Statisticians and Business Executives
1308:
62:
held various positions for the federal government: as
Commissioner on Industrial Relations in 1914, statistician for the
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448:"Mediocrity Brands Business Life Of Nation, Economist Finds—Too Many in Trade, All Held To Average, He Asserts"
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An
Economic Analysis of the Constitutional Restrictions upon Public Indebtedness in the United States
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Secrist married May
Alexander in 1904; they had two sons. He died at 61 following an operation in
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Costs, Merchandising Practices, Advertising and Sales in the Retail Distribution of Clothing
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Costs, Merchandising Practices, Advertising and Sales in the Retail Distribution of Clothing
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Costs, Merchandising Practices, Advertising and Sales in the Retail Distribution of Clothing
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103:(1933), the result of a decade's investigation by Secrist and his assistants of 49
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386:, Society for Industrial and Organizational Psychology, retrieved August 17, 2017.
383:
384:"Horace Secrist’s (1933) Theory of Organizational Mediocrity: A Cautionary Tale"
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of the better businesses to offset this effect. Mathematical statistician
940:, 6 Vol by Horace Secrist, The National Association of Retail Clothiers"
526:
Statistics on the Table: The History of Statistical Concepts and Methods
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Expenses, Profits and Losses in Retail Meat Stores: How Much and Why
158:
Expenses, Profits and Losses in Retail Meat Stores: How Much and Why
1266:
1179:
The Annals of the American Academy of Political and Social Science
944:
The Annals of the American Academy of Political and Social Science
528:, 1999, repr. Cambridge, Massachusetts: Harvard University, 2002,
354:
What the Luck? The Surprising Role of Chance in Our Everyday Lives
241:"Utah-Born U. S. Economist Gained Renown In Filling Federal Posts"
1219:
National Bank Failures and Non-Failures; An Autopsy and Diagnosis
552:
Stigler, "Regression Towards the Mean, Historically Considered",
194:
National Bank Failures and Non-Failures: An Autopsy and Diagnosis
902:
Quarterly Publications of the American Statistical Association
860:
Quarterly Publications of the American Statistical Association
300:
637, Economics and Political Science Series 6.1, April 1914,
154:– 1921, with The National Association of Retail Clothiers
854:
Statistics in Business.—Their Analysis, Charting and Use
138:
Statistics in Business: Their Analysis, Charting and Use
1068:
Margins, Expenses and Profits in Retail Hardware Stores
1047:
The Widening Retail Market and Consumers' Buying Habits
1026:
The Widening Retail Market and Consumers' Buying Habits
653:, Cambridge,. Massachusetts: Harvard University, 2016,
493:
How Not to be Wrong: The Power of Mathematical Thinking
170:
Margins, Expenses and Profits in Retail Hardware Stores
164:
The Widening Retail Market and Consumers' Buying Habits
304:, electronic reproduction Getzville, New York: Hein,
1204:
The Journal of Business of the University of Chicago
1158:
The Journal of Business of the University of Chicago
772:
Publications of the American Statistical Association
1110:Banking Standards under the Federal Reserve System
1089:Banking Standards under the Federal Reserve System
626:Statistics Done Wrong: The Woefully Complete Guide
176:Banking Standards under the Federal Reserve System
22:(October 9, 1881 – March 5, 1943) was an American
1304:Fellows of the American Statistical Association
1225:Journal of the American Statistical Association
1053:Journal of the American Statistical Association
965:by North Western University School of Commerce"
613:Journal of the American Statistical Association
597:Journal of the American Statistical Association
560:Volumes 1–5, ed. Neil J Salkind, London: SAGE,
420:Journal of the American Statistical Association
262:"Another Native Son Closes a Brilliant Career"
89:, from the effects of a long-term disability.
75:Fellow of the American Statistical Association
66:in 1918, and supervising statistician of the
8:
917:Readings and Problems in Statistical Methods
896:Readings and Problems in Statistical Methods
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146:Readings and Problems in Statistical Methods
628:, San Francisco: No Starch-O'Reilly, 2015,
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558:SAGE Directions in Educational Psychology
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969:Journal of the Royal Statistical Society
923:Journal of the Royal Statistical Society
709:Journal of the Royal Statistical Society
701:by William B. Bailey and John Cummings;
1240:National Bank Failures and Non-Failures
1198:National Bank Failures and Non-Failures
1173:National Bank Failures and Non-Failures
651:The Seven Pillars of Statistical Wisdom
554:Statistical Methods in Medical Research
548:
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298:Bulletin of the University of Wisconsin
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1183:Appraising the Social Security Program
829:An Introduction to Statistical Methods
808:An Introduction to Statistical Methods
787:An Introduction to Statistical Methods
766:An Introduction to Statistical Methods
724:An Introduction to Statistical Methods
703:An Introduction to Statistical Methods
697:"Reviews: Statistics and Its Methods:
678:An Introduction to Statistical Methods
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130:An Introduction to Statistical Methods
948:Industrial Relations and the Churches
591:The Triumph of Mediocrity in Business
188:The Triumph of Mediocrity in Business
100:The Triumph of Mediocrity in Business
7:
1133:by Horace Secrist, Keith Powlison"
1070:by Horace Secrist and J. A. Folse"
356:, New York: Overlook-Mayer, 2016,
14:
684:The American Mathematical Monthly
1294:20th-century American economists
992:35. No. 137 (March 1925) 138–40.
422:38.223 (September 1943) 365–66,
46:, and received his education at
1227:34.208 (December 1939) 770–71.
1055:22.160 (December 1927) 544–45.
1034:37.148 (December 1927) 639–41.
599:28.184 (December 1933) 463–65.
428:10.1080/01621459.1943.10501821
223:"Horace Secrist Dies, Aged 61"
1:
795:26.10 (December 1918) 986–87.
1299:People from Farmington, Utah
1137:The American Economic Review
1076:38.1 (February 1930) 119–20.
1074:Journal of Political Economy
1011:The American Economic Review
881:Journal of Political Economy
793:Journal of Political Economy
730:The American Economic Review
332:24.5 (May 1916), pp. 511–12.
330:Journal of Political Economy
249:, March 6, 1943, p. 17.
904:17.133 (March 1921) 668–70.
816:36.141 (March 1926) 115–16.
495:, New York: Penguin, 2014,
416:"Horace Secrist, 1881–1943"
268:, March 8, 1943, p. 5.
231:, March 6, 1943, p. 6.
184:– 1930, with Keith Powlison
1325:
1118:42.165 (March 1932) 86–89.
1097:39.154 (June 1929) 272–74.
1005:The Widening Retail Market
971:86.1 (January 1923) 76–78.
841:18 (November 1926) 373–74.
774:16.122 (June 1918) 113–14.
753:28.110 (June 1918) 218–20.
615:29.186 (June 1934) 196–99.
1246:Southern Economic Journal
1206:12.2 (April 1939) 213–15.
1139:21.1 (March 1931) 156–58.
925:84.2 (March 1921) 279–80.
883:29.3 (March 1921) 255–56.
686:25.4 (April 1918) 167–68.
476:23.4 (April 1959) 419–20.
470:"Mediocrity in Retailing"
281:Wisconsin Alumni Magazine
1248:6.4 (April 1940) 526–27.
1160:4.2 (April 1931) 212–13.
1013:17.2 (June 1927) 314–16.
950:(September 1922) 147–48.
871:J. Anderson Fitzgerald,
172:– 1928, with J. A. Folse
132:– 1917, revised ed. 1925
52:Brigham Young University
862:17.130 (June 1920) 215.
732:8.2 (June 1918) 401–04.
711:81.3 (May 1918) 521–22.
556:6 (1997) 103–14, repr.
228:Ogden Standard-Examiner
110:governmental protection
56:University of Wisconsin
32:Northwestern University
1001:Norman J. Silberling,
875:Statistics in Business
833:Elements of Statistics
118:regression to the mean
81:Private life and death
892:William O. Weyforth,
405:, accessed 2017-08-21
124:Selected publications
48:Brigham Young College
1309:Economists from Utah
1185:(March 1939) 225–26.
1116:The Economic Journal
1095:The Economic Journal
1032:The Economic Journal
990:The Economic Journal
835:by Arthur L. Bowley"
814:The Economic Journal
751:The Economic Journal
474:Journal of Marketing
436:Taylor & Francis
141:. McGraw-Hill. 1920.
73:In 1918 he became a
42:Secrist was born in
1085:Henry W. Macrosty,
831:by Horace Secrist;
453:Cincinnati Enquirer
68:Railway Labor Board
1242:by Horace Secrist"
1221:by Horace Secrist"
1215:C. Daniel Bremer,
1200:by Horace Secrist"
1194:Ralph R. Pickett,
1175:by Horace Secrist"
1154:by Horace Secrist"
1112:by Horace Secrist"
1028:by Horace Secrist"
1007:by Horace Secrist"
986:by Horace Secrist"
919:by Horace Secrist"
877:by Horace Secrist"
856:by Horace Secrist"
810:by Horace Secrist"
789:by Horace Secrist"
768:by Horace Secrist"
747:by Horace Secrist"
726:by Horace Secrist"
705:by Horace Secrist"
680:by Horace Secrist"
593:by Horace Secrist"
522:Stephen M. Stigler
401:2017-12-01 at the
364:, pp. 173–81.
326:by Horace Secrist"
283:, Volume 9, 1907,
87:Evanston, Illinois
16:American economist
1127:John M. Chapman,
934:Herbert W. Hess,
898:by Horace Secrist
566:978-0-85702-178-6
382:Scott Highhouse,
362:978-1-4683-1375-8
266:Salt Lake Tribune
246:Salt Lake Tribune
105:department stores
1316:
1270:
1263:"Horace Secrist"
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1289:1943 deaths
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432:also online
1278:Categories
913:G. U. Y.,
762:J. H. P.,
699:Statistics
695:E. C. S.,
638:p. 68
201:References
54:, and the
1238:"Review:
1217:"Review:
1196:"Review:
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852:"Review:
839:Economica
827:"Review:
806:"Review:
785:"Review:
764:"Review:
743:"Review:
722:"Review:
676:"Review:
649:Stigler,
589:"Review:
322:"Review:
310:982085927
28:economist
399:Archived
825:F. B.,
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196:– 1938
190:– 1933
178:– 1928
166:– 1926
160:– 1924
148:– 1920
1267:JSTOR
1181:202,
946:103,
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