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Paul Nystrom

Paul H. Nystrom
Paul Henry Nystrom.jpg
Paul Henry Nystrom
Born (1878-01-25)January 25, 1878
Maiden Rock, Wisconsin
Died August 17, 1969(1969-08-17) (aged 91)
Nanuet, New York
Nationality American
Institution Columbia University
Field Marketing
Alma mater University of Wisconsin
Doctoral
advisor
William Amasa Scott

Paul Henry Nystrom (January 25, 1878 – August 17, 1969) was an American economist, and professor of marketing at Columbia University. He is most known as pioneer in marketing, and for his The Economics of Retailing (1915) and his Economics of Fashion (1928).

Nystrom obtained his Ph.B. from the University of Wisconsin in 1909, and his Ph.M. in 1910, and his Ph.D. in 1914 under William Amasa Scott (1862–1944).

Nystrom started his academic career as Assistant Professor of Political Economy in the University of Wisconsin. He later became Associate Professor of Economics in the University of Minnesota and eventually professor of marketing at Columbia University, where he retired in 1950.

Nystrom served as editor of the American Marketing Journal and as the first editor of its successor, the Journal of Marketing. He was also a founding member of the American Marketing Association.

Nystrom is frequently associated with the philosophy of futility, a phrase which he coined in his 1928 book Economics of Fashion to describe the disposition caused by the monotony of the new industrial age. In this work he also contributed to the concept of Hemline index.

In the preface of "The economics of retailing," Nystrom explained the aim of the book and its restrictions:

And furthermore:

Key concept in the "The economics of retailing" is the concept of distribution. Nystrom explained, that "the term 'distribution' is used in another sense in the standard books on political economy. There it means: the shares of income received by members of society for their participation in, or contribution to, the economic system. The term as used here has no reference to the income of any one."

The term is used in the meaning of logistics. Nystrom It refers solely to the processes of carrying and exchanging material goods, and, used in that sense, is but a part or a phase of what economic treatises call 'production.' Wherever the term distribution is used in this work it should be remembered that it means distribution of goods, and not what technical treatises on economic theory call distribution of wealth."


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